Pakistan news of July 9, 2008
2008-07-09 14:34:58 (GMT) (Caymanmama.com - Pakistan News News)Pakistanis living in the US and the North America can now read the latest Pakistan news of July 9, 2008 in passing published by Caymanmama press release distribution service
Socio-economic stability issues discussed at D-8 Muslim states summit
Free fall in value of Pakistani Rupee - State Banks cuts forward cover to 25% against imports
Sindh Chief minister gives law enforcing agencies two days to provide report on Karachi blasts
State Bank of Pakistan meets head of all Banks to chalk out plan to curb free fall of Pakistani Rupee
Karachi Stock Exchange sheds 98.69 points
Socio-economic stability issue discussed at D-8 Muslim states summit
Kaula Lumpur: Shortage of food, changing environmental conditions and sky rocketing food prices forced the D-8, Muslim developing nations to pledge to join hands to counter the socio-economic problems jointly. Looking at the serious global threats the participating nations agreed to work together in increasing production of food and agreed on the road map of 10 years program to boost trade.
Free fall in value of Rupee - State Banks cuts forward cover to 25% against imports
Karachi: State Bank of Pakistan took some urgent steps to curb the free downslide of rupee against the US Dollar. The forward cover against imports has been reduced from 50% to 25%. According to State Bank the forward booking margins have been temporarily suspended against all types of imports.
Sindh Chief minister gives law enforcing agencies two days to provide report on Karachi blasts
Karachi: The law enforcing agencies have been given two days by Mr. Qaim Ali Shah, the Sindh Chief Minister to provide report on Karachi blasts. He also directed the them to remain vigilant to tackle any terrorist activity in the city.
State Bank of Pakistan meets head of all Banks to chalk out plan to curb free fall of Pakistani Rupee
Karachi: The value of rupee fell to 73.90 against US $1.00 yesterday. The State Bank of Pakistan has directed the heads of all Pakistani Banks to join in the meeting with the governor of the State Bank and the Finance Minister of Pakistan to chalk out the strategy to halt the sinking of rupee.
Karachi Stock Exchange sheds 98.69 points
Karachi: The free fall of rupee, bomb blasts in major cities of Pakistan and political uncertainty kept the investors at the sideline during the days trading activities at the Karachi Stock Exchange. The KSE-100 fell by 98.69 leaving the index at 11,812.24 points.
For details on the above Pakistan news visit: http://www.dawn.com/2008/07/09/index.htm
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