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Finance Minister Ishaq Dar has said that another round of dialogue between government and traders would be held today (Tuesday) on the issue of withholding tax on banking transactions. Finance Minister said he himself would chair the meeting between the FBR and the business community representatives with a view to resolving their genuine reservations. On the conclusion of meeting between FBR and traders, Finance Minister Ishaq Dar reached FBR House and got input on a day-long meeting between the FBR and business and trade community.

Bears dominated the Karachi share market Monday on panic selling after a major slump in global stocks. The benchmark KSE-100 index lost 640 points to close at 35,175 points compared to 35, 815 points Friday. The reason for the market correction due to the following reasons:
Bears dominated the Karachi share market Monday on panic selling after a major slump in global stocks. The benchmark KSE-100 index lost 640 points to close at 35,175 points compared to 35, 815 points Friday. The reason for the market correction due to the following reasons:
Prime Minister Nawaz Sharif on Monday directed completion of infrastructure projects under the China Pakistan Economic Corridor (CPEC) by end of 2017, by mobilising resources and completing financial and technical formalities. He was chairing a high-level meeting of CPEC to review the progress of infrastructure and energy projects. Federal Minister for Planning and Development Ahsan Iqbal, Secretary Water and Power and Secretary Planning and Development briefed the Prime Minister on various projects.
State Bank of Pakistan has projected that headline inflation would pick up modestly in the second half of FY16 due to the base effect of its lower level in FY15. Firming up of crude oil prices at their current level in the international market also supports this trend. International price of crude oil (Saudi Arabian Light) fell from $109.7 in June 2014 to $44.5 in February 2015 before recovering to $64.0 in June 2015, it added.
Federal Board of Revenue (FBR) and Oil and Gas Regulatory Authority (Ogra) to jointly formulate a mechanism for recovery of Regulatory Duty on crude oil and petroleum products from consumers, well-informed sources told Business Recorder. Details reveal Economic Co-ordination Committee (ECC) of the Cabinet had approved petroleum product pricing formula under which the prices of petroleum products of the local refineries are linked with the corresponding actual import price of petroleum products imported by the PSO.
State Bank of Pakistan (SBP) on Monday lifted ban, allowing Exchange Companies to import cash US dollars against export of permissible foreign currencies. Presently, only banks were allowed to import cash dollar against the export of permissible foreign currencies and all exchange companies were surrendering permissible foreign currencies with these authorised dealers.

 



 
Index Closing Chg%
Arrow DJIA 17,6630.27 1.09
Arrow Nasdaq 5,089.21 0.98
Arrow S&P 2,093.25 1.24
Arrow FTSE 6,555.28 0.77
Arrow DAX 11,173.91 1.06
Arrow CAC-40 4,977.32 1.01
Arrow Nikkei 20,328.89 0.10
Arrow H.Seng 24,503.94 0.62
Arrow Sensex 27,459.23 0.37





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln