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The World Trade Organisation remained deadlocked Monday, two months after failing to seal a key deal on a global customs pact. Officials said that the United States blocked efforts by the WTO's trade facilitation committee because of continued wrangling with India. At a meeting of the committee - which seeks to make customs procedures faster and more efficient - New Delhi refused to soften its position.

Sentiment at the Karachi share market remained negative on the first day of the new trading week Monday. The benchmark KSE-100 index lost 323 points with slim volumes. Overall, the KSE-100 index declined by 1.09 percent to close at 29,383 points Monday compared to 29,706 points Friday.
Sentiment at the Karachi share market remained negative on the first day of the new trading week Monday. The benchmark KSE-100 index lost 323 points with slim volumes. Overall, the KSE-100 index declined by 1.09 percent to close at 29,383 points Monday compared to 29,706 points Friday.
Ministry of Finance and Ministry of Water and Power are equally responsible for the prevailing problems of power sector with no visible improvement in the system during the last sixteen months. Sources said that Finance Minister Ishaq Dar, who enjoys full confidence of Prime Minister Nawaz Sharif, has been calling the shots in terms of accepting politically challenging International Monetary Fund (IMF) conditions on power sector.
Lahore Electric Supply Company (Lesco) has reportedly installed 43 meters at Jati Umra estate Raiwind - the official residence of Prime Minister, Nawaz Sharif and Chief Minister, Punjab, Mian Shahbaz Sharif and their families - well informed sources told Business Recorder. Multan Electric Power Company (Mepco) on Monday issued a notice to Vice-Chairman Pakistan Tahreek-i-Insaf, Makhdoom Shah Mehmood Qureshi against installation of six meters at his residence and sought a clarification.
Federal Secretary Ministry of Ports and Shipping Babar Yaqoob told National Assembly Standing Committee on Ports and Shipping that foreigners are illegally fishing in the sea of Pakistan and a big local mafia is involved in the illicit business. While briefing on the function and performance of Marine Fishers Department (MFD), Karachi, the Secretary Port and Shipping said.
The Federal Board of Revenue (FBR) has set new benchmarks for the Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) to reduce the number of non-filers/short-filers of returns below one percent in LTUs, less than 10 percent medium size non-filers and below 25 percent small size non-filers in RTOs. Sources told Business Recorder here on Monday that the Annual Integrated Enforcement Action Plan-2014 prepared by the FBR for the LTUs and RTOs revealed a new enforcement strategy for 2014-15 to broaden the tax base.
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Index Closing Chg%
Arrow DJIA 17,071.22 0.25
Arrow Nasdaq 4,505.85 0.14
Arrow S&P 1,977.80 0.25
Arrow FTSE 6,646.60 0.04
Arrow DAX 9,422.91 0.71
Arrow CAC-40 4,358.07 0.83
Arrow Nikkei 16,310.64 0.50
Arrow H.Seng 23,229.21 1.90
Arrow Sensex 26,597.11 0.11





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln