Pakistan news of July 30, 2008
Pakistan government must protect its neighbors says US
State Bank of Pakistan’s bid to contain inflation and budget deficit
Pakistani army refutes charges of violation of LOC
Nawaz Sharif returns from London – expects talks with Asif Ali Zardari soon
Karachi Stock Exchange shed another 130 points
Pakistan government must protect its neighbors says US
Washington: After the meeting between the US President and the Prime Minister of Pakistan the facts sheets issued by the US government stated that “The Pakistani government has an international obligation to deny any space to militants and terrorists. We seek to work with the Pakistani government as it takes responsibility for protecting the Pakistani people and neighbors.”
State Bank of Pakistan’s bid to contain inflation and budget deficit
Karachi: State Bank of Pakistan, yesterday, revised interest rates in a move to contain the unprecedented hike in inflation and also to contain the budget deficit. The governor of State Bank of Pakistan, during a press conference said “Considering the risk related to rising external current account and fiscal deficits and worsening inflation outlook, the central bank has decided to raise its policy rate by 100 basis points to 13 per cent effective July 30, 2008.”
Pakistani army refutes charges of violation of LOC
Islamabad: The allegation levied by the Indian army that Pakistani army crossed the line of control has been refuted by the Pakistan army stating that Indian army initiated the cross border firing and that Indian claims that their soldiers have been killed are false. Pakistan army’s spokesman said “No Pakistani soldier had crossed the LoC. Indian soldiers wanted to establish a forward post in the area on the Pakistani side of the LoC, which was objected to by our soldiers.”
Nawaz Sharif returns from London – expects talks with Asif Ali Zardari soon
Lahore: While answering questions of journalists upon his return from London at the Lahore Airport, the chief of Pakistan Muslim League –N, Mian Nawaz Shairf said that he is concerned over the non fulfillment of promise of reinstatement of judges by Pakistan People Party. He said that he had written a letter to Asif Ali Zardari requesting reasons for not fulfilling the promise made to the pubic but as yet he has received no reply. He expects to meet the PPP leader to discuss all outstanding issues.
Karachi Stock Exchange shed another 130 points
Karachi: Change in the monetary policy by the State Bank of Pakistan was responsible to the downfall in the KSE-100 index. The trading floor was full of rumors about increase in discount rate. The trading session ended well above the session low at 10,448.19 marking a decrease of 130.30 points.
For details on the above Pakistan news of July 30, 2008 visit: http://www.dawn.com/2008/07/30/index.htm
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