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Weekly Review: KSE-100 drops below 14,000 points

KARACHI:  The stock market continued to suffer heavy losses for the second week in a row, resulting in the benchmark KSE-100 index dropping below 14,000 points during the week ended on May 18. Profit-taking was witnessed throughout the week as investors chose to cash in on the recent highs touched by the index. With the […]

Scraping through: 45% population living below the poverty line, reports BISP

ISLAMABAD:  As many as 45.7% of the entire population is living under the poverty line, according to a door-to-door survey carried out by Benazir Income Support Programme (BISP). The results sharply negate the outcome of another official survey which calculated incidence of poverty at 12%. BISP Chairperson Farzana Raja told the National Assembly Standing Committee […]

Proposed allocation: BISP budget 20% higher yet below requirement

ISLAMABAD:  With authorities expected to allocate Rs60 billion to the Benazir Income Support Programme (BISP) for 2012-13, the government’s flagship social safety initiative will get less than its budgetary requirement for a second consecutive year. The proposed allocation while 20 per cent higher than the budget for the current fiscal year – ending on June […]

Paid to sit idle: Govt may compensate IPPs for running below capacity

ISLAMABAD:  The government has devised a novel formula to ‘compensate’ independent power producers (IPPs), according to which they will be paid Rs600 million per month for operating below capacity due to financial crunch – a plan which may turn into another scandal like rental power projects. The new formula was floated with a tag to […]

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