Ramzan moon sighted

ISLAMABAD: The first of Ramazan will be on Tuesday, according to an announcement by Central Ruet-e-Hilal Committee met with Mufti Muneebur Rehman in chair.

Following the meeting, Mufti Muneeb announced in a press conference that the committee received evidences of Ramazan's moon sighting from various parts of the country and the first day of the holy month will fall on August 2 (tomorrow).

Mufti Muneeb said that the meetings of provincial and district Ruet-e-Hilal committees were also held and the decision has been made after receiving the evidences from across the country.

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POL prices being revised upward

ISLAMABAD: The officials of Petroleum Ministry have once again decided to raise the prices of petroleum products, Geo News reported Sunday.

According to the officials of the Petroleum Ministry, the price of petrol is being raised by Rs1.9 per litre after which its price will climb to Rs84.80.

The rate of Kerosene oil is being increased to Rs1.97 per litre to Rs86.62; High Octane price will see a rise of Rs5.34 per litre; light diesel price is being jacked up by Rs2.13 per litre and; the price of High Speed Diesel is being kept unchanged at Rs92.10 per litre.

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SBP cuts policy rate by 50 basis points

KARACHI: The State Bank of Pakistan (SBP) on Saturday slashed the discount rate by 50 basis points or 0.5 percent to 13.5 from 14, Geo News reported Saturday.

Acting Governor SBP Yasin Anwar while announcing the monetary police for the next two months here said the energy crisis and bad law and order situation adversely affected the growth and feared that the fiscal deficit could climb to 6.2 percent for the previous financial year.

He said the government debt is not an issue exclusively relating to 2011 rather it is a basic problem while the tax to GDP ratio presently stood at 8.6 percent which, he regretted, was at a very low level.

The acting governor of the central bank said improved exports and remittances helped make foreign payments and the trade deficit remained within a limit of 0.8 percent.

He said the foreign exchange reserves held by the SBP had surged to Rs14.8 billion while the rupee value slipped by 0.5 percent during the past fiscal year.

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Good news for Seraiki areas this Ramzan: Babar

ISLAMABAD: Senator Babar Awan said Friday that the government would announce good news for Seraiki areas during this Ramzan and this would be a momentous event in the history of Pakistan, Geo News reported. Speaking to the media Awan added that the current government would implement orders of the Supreme Court and would complete its five year tenure.

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Seven devotees killed in Sariab road firing

QUETTA: At least seven devotees were killed and several others injured when unidentified armed men opened fire at them, rescue sources said.

According to sources, devotees were waiting for van at Sariab road when unidentified armed assailants opened fire killing four people on the spot while three succumbed to their injuries at the hospital.

The police said Kalashnikovs and pistols were using in the firing incident.

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