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Federal Minister for National Food Security and Research (MNFS&R) Sikandar Hayat Khan Bosan said here on Friday that the prices of DAP fertilisers will be decreased by Rs 500 per bag and Urea by Rs 145 per bag within the next two or three days. Speaking at a meeting of Senate's Standing Committee on National Food Security and Research, he said that the urea price was increased by Rs 160 per bag following increase in gas prices in September.

The issuance of exemption certificates and the process of tax adjustments have been in abeyance for last six days, following the suspension of FBR's Integrated Tax Management System (ITMS); it is learnt here Friday. According to sources, the FBR through a letter in January informed the taxpayers that Exemption Certificates (EC) were only accepted, if the same was submitted through system.
The Federal Board of Revenue (FBR) will grant income tax exemption on interest payment to ICBC bank of China regarding coal-fired energy projects, subject to agreement and signing of third protocol between Pakistan and China under avoidance of double taxation treaty. Sources told Business Recorder here on Friday that the issue of income tax exemption on interest payment to Chinese banks was discussed at a meeting held at the FBR House to facilitate China-Pakistan Economic Corridor (CPEC) projects.
Sindh government has no objection to the so-far-disputed privatisation of Pakistan Steel Mills (PSM) if the federation safeguards the interest of labourers. The apparently flexible statement came from Finance Minister Syed Murad Ali Shah during the German Unity day celebrated by German Consulate here Monday. "Only if it safeguards the interest of labourers," Shah told Business Recorder on the sidelines of the event.
A partial agreement was signed between Pakistan Airline Pilots Association (Palpa) and the Civil Aviation Authority (CAA) Friday to end the gruelling strike against Pakistan International Airlines (PIA) by the pilots of the national flag carrier. The representatives of the Palpa and the CAA discussed as many as 10 points in the meeting of the Senate Standing Committee on Cabinet that met with Senator Muhammad Talha Mehmood in the chair.
As a result of tough but comprehensive and deep-rooted economic structural reforms together with stabilisation measures undertaken during last two year, foreign exchanges reserves rose to a record level, inflation fell drastically and international ratings improved significantly. This has been stated by Finance Minister Ishaq Dar in a statement available on the International Monetary Fund (IMF) website for the 2015 annual meetings of the Boards of Governors of the World Bank Group and the IMF.
Bulls returned to the driving seat on the Lahore Stock Exchange amid a descending transaction volume on Friday. The LSE-25 index gained 82.73 points to close at 5642.21 against 5559.48 of Thursday while the transaction volume declined to 527,500 shares as compared with the previous volume of 1.263 million shares. Brokers said market players were taking fresh positions in the wake of some positive developments. The levels of a few scrips are attractive and investment in such shares can yield profit.


Index Closing Chg%
Arrow DJIA 17,084.49 0.20
Arrow Nasdaq 4,830.47 0.41
Arrow S&P 2,014.89 0.07
Arrow FTSE 6,416.16 0.65
Arrow DAX 10,096.60 1.04
Arrow CAC-40 4,701.39 0.54
Arrow Nikkei 18,438.67 1.64
Arrow H.Seng 22,458.80 0.46
Arrow Sensex 27,079.51 0.87

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln