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The Economic Co-ordination Committee of the Cabinet in its meeting chaired by Finance Minister Ishaq Dar Saturday approved an amount of Rs 960 million for payment of two months' salaries to workers of Pakistan Steel on an urgent basis. Chairman Pak Steel briefed the meeting about the current profile of Pak Steel saying some difficulties were being faced in production due to power and gas shortage.

India's finance minister pledged major investment in infrastructure on Saturday, saying it was time for the economy to "fly", as he unveiled the new right-wing government's first full budget. Arun Jaitley said his government had inherited an economy dominated by "doom and gloom" when it took power last year, trumpeting its achievements in conquering inflation and kick-starting growth.
India announced Saturday a cut in corporate taxes and other initiatives for a more stable and predictable tax regime in a bid to woo foreign investors and spur faster growth in Asia's third biggest economy. Finance Minister Arun Jaitley unveiled his right-wing government's first full budget after storming to power at last year's general elections on a pledge to reform and revive the economy.
China's central bank on Saturday announced that it will cut the benchmark deposit and loan interest rates by 25 basis points, as authorities seek to prop up flagging growth in the world's second-largest economy. The move, which goes into effect Sunday and marks the second cut in four months, was largely expected amid a raft of weakening economic indicators, analysts said.
The Federal Board of Revenue (FBR) is compiling authentic data of pending and issued refunds with regard to income tax and sales tax/federal excise duty (FED) for the period July 1, 2014 to January 31, 2015 for onward transmission to the Federal Tax Ombudsman (FTO), investigating case of alleged figure fudging.
Greece's prime minister vowed Saturday not to back down in his "battle" with the country's creditors, in line with his election promise to abandon austerity and avoid a third bailout. "The battle will continue," Prime Minister Alexis Tsipras told the central committee of his hard-left Syriza party. "Anybody thinking that we are going to go away will be disappointed."
The Chief Executive of TDAP S M Muneer has urged the government to immediately pay sales tax refund to business community which were delayed for last two years. This is a great hurdle in the economic growth of country. "If government pays this refund to all business community, he takes responsibility to take export to $5 billion during this year," he added.
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Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65







ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln