Increase in Inflation Rate

The Sensitive Price Indicator (SPI), for the week ended on September 08, 2011, for the lowest income group up to Rs.3,000, has registered increase of 0.53 percent over the previous week.

The SPI for the week under review in the above mentioned group was recorded at 316.11 points as against 314.44 points registered in the previous week, according provisional figures of Federal Bureau of Statistics (FBS).

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Pakistan State Oil Demand 50 Billion from Government

Pakistan State Oil Company (PSO) urgently needs Rs50 billion for paying the outstanding amounts of international suppliers.

Sources said that PSO needs this amount latest by 15/16 of the current month, as its total outstanding amounts were as high as of Rs90 billion out of which Rs50 billion was required urgently for averting default.

Additional secretary, ministry of petroleum in a memo to the ministry of water and power hat termed this situation alarming. 

On the other hand, PSO recoveries from the power sector companies and the government have swelled up to Rs174 billion.

In this backdrop, the company has demanded from the government immediate payment of Rs50 billion.

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