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Chinese President Xi Jinping is arriving here on Monday on a two-day (April 20-21) state visit with a massive economic package. Both Pakistan and China are expected to sign $45 billion energy, communication and infrastructure projects during the Chinese President's visit to Pakistan.

Pakistan and China are re-negotiating agreement for the avoidance of double taxation convention and the prevention of fiscal evasion with respect to taxes on income. Sources told Business Recorder Saturday that the revised convention may not be inked during the upcoming visit of Chinese President as the re-renegotiations have yet to be started between the tax authorities of both the countries.
The Securities and Exchange Commission of Pakistan (SECP) has declared that an insurance company can not engage in self-insurance by insuring its own assets and issuing different policies covering its head office, branches, machinery breakdown, fire, motor and health, etc.
The powerful auto industry has reportedly forced Chairman Privatisation Commission (PC) Muhammad Zubair to withdraw a proposal meant to make mandatory for auto assemblers to change their models after every ten years, well informed sources told Business Recorder.
Finance Minister Ishaq Dar Friday said Prime Minister Nawaz Sharif has enunciated peace for development as the defining principle of Pakistan's foreign policy. "Building a peaceful neighbourhood and a rebalancing between geo-strategic and geo-economic priorities constitute the main pillars of this policy. Our government has embarked on resolute efforts to create a peaceful external and internal environment so that the core national objectives of economic development are achieved," Dar said while addressing at reputed think tank, Carnegie Endowment for International Peace Washington on "Revival of Pakistan Economy and its Future Prospects."
The International Monetary Fund warned in a communique on Saturday that while economic growth in developed countries had strengthened, some emerging nations were being hit by weaker commodity prices and exports. With the United States poised to hike interest rates, the IMF member nations said it was essential that moves to "policy normalisation" were accompanied by effective communication of changes to reduce risks of spillovers.
The Pakistan Cotton Ginners Association (PCGA) fortnightly report shows that around 1,48,63,963 cotton bales were sourced to the country's ginners by April 15, 2015, which shows an increase of 11 percent than last year when ginneries received 1,33,90,788 bales.

 



 
Index Closing Chg%
Arrow DJIA 17,826.30 1.54
Arrow Nasdaq 4,931.82 1.52
Arrow S&P 2,081.18 1.13
Arrow FTSE 6,994.60 0.93
Arrow DAX 11,688.70 2.58
Arrow CAC-40 5,143.26 1.55
Arrow Nikkei 19,652.88 1.17
Arrow H.Seng 27,653.12 0.31
Arrow Sensex 28,442.10 0.78





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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln