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Pakistan news October 9, 2008 - State Bank of Pakistan injects $100M to improve liquidity
2008-10-09 15:10:34 (GMT) (Caymanmama.com - Pakistan News News)Pakistan news of October 9, 2008
- Pakistani banks get breathing space - SBP feeds Banks with $100 million
- Newly appointed advisor to the PM on finance faces tough task ahead
- Tehrik-i-Taliban warns political leaders against supporting military operations
- US and Pakistan must solve issue of cross border raids - respect Pakistan’s sovereignty
- Karachi stock exchange back to the falling spree
Pakistani banks get breathing space - SBP feeds Banks with $100 million
Karachi: State Bank of Pakistan moved in yesterday to rescue the banks. The central bank took two steps (1) It injected $100 million to improve liquidity and (2) lowered cash reserve requirement by 2% that is from 9% to 7%. These moves will help curtailing the free fall of rupee against the US dollar which, yesterday, was being quoted in the open market at the all time high of 80.10
Newly appointed advisor to the PM on finance faces tough task ahead
Lahore: The Lahore Chamber of Commerce and Industry delegation met Mr. Shaukat Tareen and appraised him on the current deteriorating situation of the Pakistan’s trade and economy. The delegation also urged Mr. Tareen to take immediate steps to help in restoring the confidence of the traders and investors.
Tehrik-i-Taliban warns political leaders against supporting military operations
Mingora: Maulana Fazlullah, the chief of Tehrik-i-Taliban in Swat, warned the legislators and asked them to refrain from supporting military action against the Taliban. He gave conditional amnesty to all political leaders and government officials who would stop resistance to activities of Taliban in the region.
US and Pakistan must solve issue of cross border raids - respect Pakistan’s sovereignty
United Nations (APP): “I would … urge the parties concerned to resolve this issue, respect each other’s concerns as well as sovereignty and territorial integrity,” said the UN secretary general while replying to the newsmen. He said that US and Pakistan should resolve their issues of US raids inside Pakistan. He emphasized on respecting the sovereignty of the nation.
Karachi stock exchange back to the falling spree
Karachi: The Karachi Stock exchange gave back what it had accumulated a day earlier. The market shed 2.75 points bringing the index back to 9,178.73 points. The investors at the stock market maintained their distance as they were keenly watch the downslide of rupee against the dollar were Pakistani rupee stood at Rs.80 in exchange for 1US$
For details and more Pakistan news of October 9, 2008 visit: http://www.dawn.com/2008/10/09/index.htm
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