Tag Archives: Monetary

Sharia and monetary policy

Many opponents of Islamic banking and finance claim that an Islamic financial system does not offer a credible framework for running monetary policy, as in the absence of an interest rate mechanism,

Son kills father over monetary dispute

KASUR – Chuniaan police registered a case against Gulzar Ahmed for allegedly killing his father at Mughlanpur village. Reportedly, Gulazar exchanged hot words with his father Shafi over a monetary issue and shot him dead.
TWO BLIND MURDERS’ MYSTERY SOLVED: Kasur police on Saturday claimed they had traced two blind murders. According to Station House Officer (SHO) Mian Muazzam, the accused Hassan Ali killed Bashir over the suspicion that he had developed illicit relations with his

Mohsin demands monetary rewards for selectors

LAHORE – Chief selector Mohsin Khan has demanded monetary reward for selectors after the team’s performance in the recently-concluded ICC World Cup 2011. Mohsin’s demand follows a similar statement by national team coach Waqar Younis.
Mohsin stated the example of India, where he claimed the national selectors were given bonuses of 2.5 million each for the Indian team’s World Cup title victory. Mohsin said Pakistani selectors also deserved a similar treatment. “When you consider

KSE slides over monetary policy fears

KARACHI – The local bourse underwent a slump of 12.12 points or 0.10 percent on Friday primarily due to, what analysts said, investors’ cautiousness a day ahead of the monetary policy statement (MPS) by the State Bank of Pakistan.
The KSE 100-share index closed at 11,552.13 points against 11,564.25 points, the previous day. The day saw the intraday high and low, respectively, at 11,636.89 and 11,531.65 points, while the day’s turnover at the ready-counter was recorded at 66.38

Monetary expansion on rise – Government borrowing rings alarm

KARACHI – Monetary expansion in the country continues to be on the higher side owing to a couple of factors, including the higher net foreign assets (NFA) and ever-increasing government borrowings from the banking system. The provisional data released by the State Bank of Pakistan (SBP) on Tuesday reveals that Broad Money (M2) witnessed a robust growth of 8.06 percent or Rs 465.663 billion in value terms during July 1 to February 19, 2010-11.
It shows a growth of Rs 218.54

Man shot dead in monetary dispute

LAHORE – Muhammad Fahad was gunned down by his business partner over some monetary issue in Wahdat Colony on Wednesday. The deceased lived at 218-ferozpur Road near an old film studio. Police investigators claim Fahad ran a printing press with Rashid Butt near Muslim Town Morh.
Police suspects that a scuffle may have started over a monetary issue between Butt and Fahad, in their office last night. Allegedly, Butt shot Fahad and managed to escape from the scene. Police have

‘I will claim monetary loss’

QUETTA – Shahzain Bugti, the provincial president of Jamhoori Watan Party (JWP) and grandson of slain Baloch leader Nawab Akbar Khan Bugti, Thursday rejected the ban imposed on his and his brother’s movement and said he would claim compensation from the government for the loss of millions of rupees suffered daily.
He was talking to reporters after the hearing of his petition challenging the government order of restricting his movement. Shahzain said during the hearing, the

Volumes plunge on eve of SBP monetary statement

KARACHI – Pakistani shares ended almost flat as volume fell to a one month low as cautious investors remained on the sidelines ahead of the monetary policy announcement on Saturday by the State Bank of Pakistan. The Karachi Stock Exchange’s benchmark 100-share index ended 0.04 percent, or 4.44 points, higher at 12,481.44 points.
Turnover fell to 87.9 million shares, compared with 112.3 million shares traded on Thursday.
“Despite healthy corporate results in the energy

FPCCI unnerved by SBP monetary policy

KARACHI – Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Vice President Khalid Tawab has expressed serious reservations of the State Bank of Pakistan’s (SBP) new Monetary Policy to be announced on January 29; it is anticipated that the discount rate will be raised by a further 50 basis points. He said that the SBP continues to operate a tight monetary policy despite clear evidence that such policy strangulates investment and trade in Pakistan and has hampered the

One killed, three injured in a monetary dispute

LAHORE – A man died while three others including two women were injured in a monetary dispute in Bagbanpura police precincts on Saturday.
The deceased was identified as Haider Ali (26), a resident of the Krol Bazaar Baghbanpura. Police investigators told Pakistan Today that no FIR had been lodged against the accused and no on has been arrested till now.
Haider’s brother Ghulam Mustafa had a monetary issue with his old business partner, Shakeel Butt. Shakeel with some armed

KSE remains sluggish, investors await monetary policy announcement

KARACHI: The local bourse underwent another range bound session, as investors remained at the sidelines and awaited the monetary policy announcement due later in the day.
Though Farrukh Khan’s announcement as the new SECP chairman was welcomed by investors, but it failed to provide an impetus against anticipation over the MPS.
The benchmark KSE-100 index accumulated 18 points to close at 11,163 levels. The KSE-30 index squeezed 3.13 points and closed at 10745.17 levels,

Text of the ‘Monetary Policy Decision’

The economy’s ability to achieve sustainable recovery remains constrained owing to slow progress in the prevailing security and economic conditions. The key economic variables impeding stabilisation and thereby growth are high and persistent inflation, continuing fiscal slippages and unresolved power sector issues.
Whereas adjustments in administered prices of fuel and energy and the post-flood disruption in the supply chain of food items have contributed to the recent upsurge