Petrol, diesel prices up by Rs three per litre
The government on Thursday has increased the prices of all oil products by Rs 3 per litre except kerosene oil. Kerosene oil price has been kept at the previous level to basically protect the poor from additional financial burden, who use it as fuel more... (BR)

ADB to give $800 million for power projects
The Asian Development Bank (ADB) has agreed, in principle, to provide Pakistan a multi-tranche financing facility of $800 million for various projects in power sector. The facility is extendable to $1,200 million more... (BR)

Democrats discuss new aid package for Pakistan
The Democrats, who already control the US Congress and are likely to win the 2008 presidential election as well, have started consultations to offer a new $7 billion aid package to Pakistan more.... (D)

SBP buys Rs21.8bn of T-bills
The State Bank of Pakistan bought back Rs21.80 billion of Treasury bills on Thursday at 10 per cent under two-day reverse-repo contracts to inject liquidity into a tight money market more.... (D)

Pakistan believes in minimum credible deterrence: Gilani
Prime Minister Yousuf Raza Gilani reiterating his government's commitment to the country's strategic programme said on Thursday that Pakistan believed in maintaining Minimum Credible Deterrence as a cornerstone of its national security poli more.... (BR)

ECP extends bye-polls date to June 18
Election Commission of Pakistan has decided to extend polling date of the upcoming bye-elections till June 18, citing the ongoing sessions of National and Provincial assemblies as major reasons more.... (BR)

Hints at encashing Standby Letter of Credit: Hubco expresses inability to make payment to PSO
A serious crisis is brewing in the power sector as the Hub Power Company Limited (Hubco), the largest independent power producer (IPP), has expressed its inability to pay dues to Pakistan State Oil (PSO) while informing the Pakistan Electricity Producer Company (Pepco) about the possibility of initiating the process for encashing the Standby Letter of Credit more... (BR)

Rs five billion released to OMCs for capping oil prices
The finance ministry has released Rs 5 billion to the Oil Marketing Companies (OMCs) payable as price differential claim (PDC) for capping the oil prices more... (BR)

Separate policies urged for textile sub-sectors
The value-added textile exporters want the federal government to formulate separate policies for various sub-sectors of the textile industry in order to resolve their sector-specific issues and problems more.... (D)