Tag Archives: Reserves

SC reserves verdict on contempt proceedings against PCO judges, generals

SC reserves verdict on contempt proceedings against PCO judges, generals

ISLAMABAD – The Supreme Court on Wednesday reserved its verdict on whether it could initiate contempt proceedings against PCO judges and the army generals involved in the promulgation of November 3, 2007 emergency in the country in defiance of a seven-member Supreme Court bench’s restraining order.
The court also reserved its decision on employing the assistance of the Pakistan Bar Council (PBC) and presidents of provincial bar associations in contempt proceedings against the PCO

Forex reserves inch up to $17.28b

KARACHI – Liquid foreign exchange reserves, held by Pakistan, have exhibited a slight rise and reached $17.28 billion compared to $17.09 billion during the week ending on January 15. According to the State Bank, the country’s foreign exchange reserves stood at $17,281.6 million on January 15. During the week under review, reserves of the State Bank also increased and stood at $13.657 billion, compared to $ 13.437 billion last week. A downward trend of foreign exchange reserves held by

LHC reserves judgment on petition challenging BB monument

LAHORE – The Lahore High Court (LHC) on Wednesday reserved its judgment on a petition challenging construction of former PM Benazir Bhutto’s monument memorial at the Liaqat Bagh, Rawalpindi. The court was hearing a petition filed by Feroz Shah Gilani against construction of the monument costing Rs 1 billion from the national exchequer.
Deputy Attorney General Naveed Inayat Malik submitted a report on the federal law secretary’s behalf stating that Benazir was a personality of

Forex reserves dip to $17.09b

KARACHI – The country’s total liquid foreign reserves have slightly shrunk to $17.09 billion, after hitting a record high of $17.19 billion last week.
Coalition Support Funding (CSF) to Pakistan, Washington’s major non-Nato ally in the war against terror, had taken the country’s foreign exchange reserves up to an all time high of over $17.197 billion during the week that ended on January 1.
According to the state bank, the country’s foreign exchange reserves stood at

Samar tells SC Pakistan can refine Reko Diq reserves

ISLAMABAD – Noted nuclear scientist and member of the Planning Commission, Dr Samar Mubarakmand, on Wednesday told the Supreme Court that Pakistan had the capability and expert staff to explore, mine and refine the natural reserves of gold and copper at Reko Diq in Balochistan.
A three-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday was hearing petitions against the lease of Reko Diq gold and copper reserves to a

SC reserves judgment in Dogar’s case

ISLAMABAD – Verdict was reserved by the Supreme Court on Tuesday after the objections raised by the counsel of the former de-facto chief justice of Pakistan (CJP) Abdul Hameed Dogar which alleged that the bench hearing the case was not ‘competent’.
A four-member bench comprising Justice Mahmood Akhtar Shahid Siddiqui, Justice Jawwad S Khawaja, Justice Khilji Arif Hussain and Justice Tariq Pervez, after hearing arguments of Raja Muhammad Ibrahim Satti, counsel for former CJP

China forex reserves hit record

BEIJING – China said Tuesday its foreign exchange reserves hit a record high at the end of 2010, which is likely to fuel calls for a stronger yuan when President Hu Jintao visits Washington next week.
The increase in the forex holdings, already the world’s largest, highlighted imbalances in global trade and the challenge Beijing faces in stemming a flood of liquidity into the country.
China’s foreign exchange reserves expanded 18.7 percent from a year earlier to $2.847

Forex reserves inch up to $16.424b

KARACHI – The country’s foreign exchange reserves slightly rose by 0.18 percent to over $ 16.424 billion during the week ending on December 25, the State Bank said Thursday. During the week under review, the country witnessed its foreign exchange reserves surging by $ 31 million against last week ending on December 18 when the liquid reserves were calculated at $ 16.393 billion.
During the week the central bank counted its foreign exchange reserves at over $ 12.709 billion,

Harassment of defaulters – SHC reserves verdict on identical petitions

KARACHI – The Sindh High Court (SHC) on Saturday reserved its verdict on identical constitutional petitions filed against the staff of different private banks and institutions for engaging in harassment for loan recovery.
The petitions were filed by Anwer Mehmood and others, who approached a three-member SHC bench headed by Chief Justice Sarmad Jalal Osmany. They impleaded the State Bank of Pakistan (SBP) governor; presidents and heads of recovery departments of ABN Amro Bank,

Forex reserves rise to $16.417b

KARACHI – The country’s liquid foreign exchange reserves underwent a slender increase of $27.4 million and reached $16.417 billion during the week ending on December 11, the State Bank said on Saturday.
The week under review saw the foreign exchange reserves held by the country augment 0.16 percent. Foreign exchange reserves had dwindled $350 million and reached $16.39 billion in the week ending on December 4.
The funds-starved country’s foreign exchange reserves had faced a

Punjab reserves 3.5m tonne wheat for export

LAHORE: Punjab Food Secretary Irfan Elahi has said that the Punjab government has reserved 3.5 million tonnes of wheat for export from six divisions.
Providing further details to the media on Saturday, he said that 490,000 tonnes of wheat has been reserved from Faisalabad, 294,000 tonnes from Sargodha, 822,000 from Multan, 584,000 from Sahiwal, 443,000 from D G Khan and 868,000 metric tonnes from Bahawalpur.
Irfan Elahi informed that a special cell has been set up to

PCO judges’ case – SC reserves verdict

ISLAMABAD: The Supreme Court on Friday reserved its verdict until December 6 on a plea against the composition of the bench hearing contempt of court cases against PCO judges.
The five-member larger bench of Justice Muhammad Sair Ali, Justice Mahmood Akhtar Shahid Siddiqui, Justice Jawwad S Khawaja, Justice Khilji Arif Hussain and Justice Tariq Parvez, was hearing contempt of court cases against superior courts’ judges, who had taken oath under the Provisional Constitutional

Debt payments reduce forex reserves to $16.852 billion

KARACHI: The country’s foreign exchange reserves have dropped further and reached $16.852 billion for the week that ended on November 19, 2010, State Bank’s statistics revealed on Thursday.
According to the central bank, the country’s foreign exchange reserves contracted $57.4 million or 0.33 percent in the week under review against $16.910 billion last week.
“The state bank’s reserves registered a nominal dip due to routine debt payments,” SBP Chief Spokesman Syed

FSC reserves verdict in WPA case

ISLAMABAD: A three-member bench of the Federal Shariat Court (FSC), headed by FSC Chief Justice Agha Rafiq Ahmed Khan, on Tuesday reserved its verdict on a set of identical petitions challenging the ‘Women Protection Act 2006’.
The petitions were by Muhammad Akhtar, Abdul Latif Sufi and Mian Abdul Razzaq Aamir. The petitioners contended that the removal of the offences of Zina and Qazf from the two hudood ordinances through the Women Protection Act 2006 was contrary to the

Forex reserves dip to $16.910b

KARACHI: The country’s liquid foreign exchange reserves have dwindled by 0.21 percent or $37 million to $16.910 billion for the week ending on November 22, the State Bank’s statistics revealed on Monday.
According to the central bank, the total liquid foreign reserves held by the country stood at $16,910.2 million on November 12, 2010 against $16.947 billion on October 11, 2010.
Talking to Pakistan Today, Chief Spokesman of the State Bank of Pakistan Syed Wasimuddin

LHC reserves judgment on Ajmal Kansi’s extradition case

LAHORE: The Lahore High Court Monday reserved judgment on a petition seeking the registration of a case against former Prime Minister Nawaz Sharif for handing over Mir Aimal Kansi to American, where he was executed.
The petition was filed by Pir Ally Immrawn Saher Essraphel through Barrister Iqbal Jafree.
The petition stated that Aimal Kansi had nothing to do with the murder of the two CIA employees in 1993; the government however extradited him on the mere allegation of

Forex reserves jack up KSE

KARACHI
A record increase in the foreign exchange reserves and birth of a soft corner over law and order situation jacked up the Karachi Stock Exchange 100-Index by 93.74 points on Friday as it closed at 10,652 points. The volume of trading also climbed to 114.67 million shares, as investors traded shares worth Rs 5.11 billion on Friday.
High trading activity kept the volume generating machine busy as the benchmark index hit a six month high, primarily associated with an

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