KP budget with total outlay of Rs. 505 billion announced

The Khyber Pakhtunkhwa balanced budget amounting to five hundred and five billion rupees was announced on Tuesday evening. Presenting the budget in the Provincial Assembly, Finance Minister Muzaffar Said Advocate said the province will receive two hundred and ninety three billion rupees from the federal divisible pool which is seventeen percent more than the amount received in the outgoing fiscal year. The province will also get thirty five billion rupees from the federal government for war on terror, about nineteen billion rupees as net-profit of hydel power generation and seventeen billion rupees as royalty of oil and gas.

Punjab budget: A hefty allocation for agriculture

Punjab on Monday made a combined, and massive, allocation of Rs147 billion for agriculture and its sub-sectors – livestock, irrigation, forestry and food. The allocation also includes Rs50 billion Chief Minister’s Relief Package, which he had announced in April. Out of this package, the Punjab plans to contribute Rs11.60 billion to the federal fertiliser subsidy on Urea and DAP. The provincial government would also spend Rs17.70 billion on credit subsidies to the farmers. It would be in addition to the Rs7 billion to be spent on subsidising tubewell operations in the province.

Pakistan offers huge opportunities of investments: Javed Malik

Pakistan's Ambassador to Bahrain Javed Malik says Pakistan offers huge opportunities of investments. He was talking to the Minister of Bahrain for Industry and Commerce Zaid Rashid Al-Zeyani in Manama. Pakistan offers vast opportunities of investments and trade for foreign investors. Economic relations between the business communities of the two countries will be further strengthened in future.

PSX witnesses bullish trends

Pakistan Stock Exchange, Karachi witnessed bullish trend at the start of the business on Tuesday. PSX hundred indexes reached 37,280 points with the addition of three hundred points.

Gold touches four-week high

Gold hit its highest since mid-May on Monday, driven by rising investor risk aversion before central bank meetings this week and Britain’s June 23 vote on whether to leave the European Union. The pound fell to a two-month low against the dollar, pushing gold denominated in sterling to its highest in nearly three years at 909.83 pounds an ounce, up 1.9pc. Spot gold was up 0.5pc at $1,280.51 an ounce at 1405 GMT, off an earlier peak of $1,287.00. US gold futures for August delivery were up $7.20 an ounce at $1,283.10.

Exchange Rates for currency 

Live broadcast of budget 2016-17 of Khyber Pakhtunkhwa

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