ISLAMBAD (January 06, 2009): Banks would provide information on salaries and interest to the Large Taxpayers Unit (LTU), Karachi for monitoring of withholding taxes from the banking sector. It has been learnt here on Monday that the banks, who received notices for monitoring of the withholding taxes, have approached the LTU with the plea that it would be difficult for banks to simultaneously provide all kinds of withholding taxes related information in consolidated form.

ISLAMABAD (January 06, 2009): The National Electric Power Regulatory (Nepra) is to increase power tariff by Rs 2.00 to Rs 2.25 per unit for the consumers of Karachi Electric Supply Corporation (KESC) within a couple of days, a top government official hinted on Monday. "We are expecting Rs 2.00 to Rs 2.25 per kwh raise in KESC's consumer end tariff due to tariff determination, to be finalised by Nepra within a couple of days," he said.

ISLAMABAD (January 06, 2009): The Federal Board of Revenue (FBR) has exempted customs duty on the temporary import of power generation plants by the Karachi Electric Supply Company (KESC). The board has amended SRO.567(I)/2006 through a notification issued here on Monday.

KARACHI (January 06, 2009): The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed on 7th and 8th January, 2009 (Wednesday and Thursday) being public holidays declared by the Government of Pakistan on the occasion of 9th and 10th Muharram-ul-Harram (Ashura).

KARACHI (January 06, 2009): Complying with the IMF's one of the primary conditions, the Federal Government has not only restrained from borrowings but also retired some Rs 98 billion to the central bank. The federal government was constantly borrowing from the banking system including the State Bank of Pakistan (SBP) and other banks since last one and a half years to meet its budgetary deficit, sources said on Monday.

ISLAMABAD (January 06, 2009): Finance Ministry has achieved all IMF targets, including 2 percent fiscal deficit by the end of December 2008, and tax collection likely to touch 10.5 percent of GDP as discussed and agreed, said Advisor to PM on Finance, Shaukat Tarin.

ISLAMABAD (January 06, 2009): India on Monday handed over to Pakistan what it said was 'evidences' against Pakistani based militants' involvement in Mumbai terrorist attacks. Indian High Commissioner in Islamabad called on Foreign Secretary Salman Bashir at the Foreign Office and handed over the file to him.

ISLAMABAD (January 06, 2009): US Assistant Secretary of State for South and Central Asian Affairs, Richard Boucher on Monday said that Mumbai attacks have links to Pakistan or it leads to Pakistan soil. Talking to a select group of journalists at the American embassy, Boucher said it is first and positive step that both Pakistan and India have exchanged information and would follow the leads so that the perpetrators of Mumbai attacks could be arrested and punished.

GAZA CITY (January 06, 2009): The expansion of Israel's offensive against Gaza's Hamas rulers into ground battles and artillery salvos is taking a heavier toll on the civilians of the crowded sliver of land, including three toddlers killed Monday by the blast of a crashing shell.

DUBAI (January 06, 2009): Iran has sealed a gas oil supply deal with Singapore trader Hin Leong to cover a shortfall as an Indian contract looked likely to fall through over a pricing dispute, industry sources said on Monday. Iran is the world's fourth-largest oil exporter, but lacks the refining capacity to meet domestic needs and relies in international imports to satisfy demand.