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The government has decided to provide 1,000 acres of land to Pakistan Navy in Pishukan area of Gwadar in lieu of 584 acres of land that the Navy has agreed to hand over to Gwadar Port Authority. Dostain Khan Jamaldini, Chairman Gwadar Port Authority, told Business Recorder in an exclusive interview on Tuesday that all the land disputed with Pakistan Navy has been settled amicably.

Finance Minister Ishaq Dar's claim of around 17 per cent growth in revenue collections was challenged by Senators who maintained that it was achieved by blocking sales tax refunds of Rs 415 billion. The Senate Standing Committee on Finance chaired by Chairman Nasreen Jalil requested tax authorities to appear before the committee today (Wednesday) to explain why sales tax refunds have not been paid.
The Federal Board of Revenue is required to collect Rs 674.11 billion during the last quarter (April-June) of 2013-14 to reach the downward revised tax collection target of Rs 2,345 billion. Sources told Business Recorder on Tuesday that the FBR has provisionally collected Rs 1,670.89 billion during July-April 22 against Rs 1,449.79 billion in the same period last fiscal year, reflecting an increase of 15.3 percent.
Services trade performance continued to deteriorate as Coalition Support Fund (CSF) inflows saw slow arrivals this year. The services trade deficit posted a notable increase of 176 percent during the first nine months of FY14. Analysts said the country received a less amount on account of CSF during this fiscal year compared to pervious year which resulted in higher services trade deficit.
National Electric Power Regulatory Authority (Nepra) on Tuesday slashed power tariff of Discos by Re 1 per unit for March 2014 due to rupee appreciation under monthly fuel adjustment formula. Central Power Purchasing Agency (CPPA) had filed a petition to Nepra for a cut in power price by Re 1 per unit for hearing. This reduction in power tariff is not applicable on so-called lifeline consumers who use only 50 units per month and K-Electric.
The government is all set to go for the long-awaited 3G/4G spectrum auction today to generate over $1.3 billion non-tax revenue, besides introducing latest technology, official sources said. Pakistan Telecommunication Authority (PTA) has finalized all the arrangements for the auction where a total of 50MHz is being offered for this purpose, of which 30MHz has been offered in 2100 band and 20MHz has been offered in the 1800 band.
The Privatisation Commission on Tuesday appointed three consortia as Financial Advisors (FAs) for divestment of government shares in Oil and Gas Development Company (OGDCL), Pakistan Petroleum Limited (PPL) and United Bank Limited (UBL). The decision has been taken in the 4th meeting of the PC Board under the chairmanship of Muhammad Zubair.
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Index Closing Chg%
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln