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  ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani has expressed gratitude to the European Union for the approval by the World Trade Organization for a European Union waiver on duties for 75 products from Pakistan. He said the approval of the scheme intended to boost textile exports would help Pakistan recover from massive floods in 2010 and the losses it incurred in the war against terror. Gilani said Pakistan was thankful to all WTO member countries for their ...
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  KARACHI: Various strategies to broaden the tax base were mulled at the Institute of Chartered Accountants of Pakistan (ICAP) during a group discussion by the Southern Regional Committee and Taxation Committee of the ICAP on anomalies in income tax, sales tax and excise laws. An ICAP statement here on Friday said that the members from taxation committee proposed different strategies in this connection that would be suggested to Federal Board of Revenue (FBR) after finalisation. The ICAP ...
  ISLAMABAD: With World Trade Organization's (WTOs) approval on unilateral trade liberalization from the European Union, Pakistan now eyes on roping in Generalized System of Preference (GSP) Plus status to enhance its exports with reduced duty rates to the EU Markets, official sources said. "Of course getting duty free access of 75 products to EU is a great achievement with healthy impact on the economy and the credit goes to Prime Minister who at diverse levels pleaded ...
  ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs 972 billion as tax during the last seven months, Minister for Finance Dr Hafeez A Shekih Thursday told National Assembly. Responding to calling attention notice, he said 26 percent more tax has been collected as compared to previous year. The tax collection has been increased due to bold decisions, prudent measures and introduction of reforms in the tax collected system, he said. FBR has collected Rs 1558 ...
  ISLAMABAD: British Member of European Parliament, Sajjad Karim has welcomed World Trade Organization (WTO) approval of European Union (EU) on duties from Pakistan "The approval at WTO level of the package of assistance for Pakistan is extremely good news in terms of the development of the relationship between the European Union, Pakistan and indeed South Asia," says a message received here from Brussels (Belgium) here on Thursday. He informed that Baroness Ashton will be in Pakistan in ...
  KARACHI: Chief Minister Sindh Syed Qaim Ali Shah Wednesday presided over a meeting to review the progress on implementation of development schemes. The meeting held at the C.M. House was attended among others by Sindh Finance Minister, Syed Murad Ali Shah, Chief Secretary Sindh, Raja Muhammad Abbas, Additional Chief Secretary (P&D), Israr Malik, Special Secretary Finance, Sohail Rajut, Secretary to C.M. Sindh, Hafeezullah Abbasi, Special Secretary (Development) Dr. Noor, and others. The meeting was informed that there ...
  ISLAMABAD: The food group exports from the country during the first half of current financial year increased by 17.58 percent as compared the exports of same period last year. According the data of Pakistan Bureau of Statistics (PBS), during the period from July-December 2011, the country earned US$ 1.88 billion by exporting the food commodities including rice, fruits, vegetables, fish, meat and other edible items. Fruit export from the country during first six months of the current ...

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9098.8   Arrow 29.37
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Banking Review 2011


The Wall

ArrowEuro 1.3158
ArrowSterling 1.5815
ArrowSwiss Franc 0.9182
ArrowYen 76.6015
ArrowGold 1740.300
ArrowCotton 96.340
ArrowOil 97.840
Index Closing Chg%
Arrow DJIA 12,862.20 1.23
Arrow Nasdaq 2,905.66 1.61
Arrow S&P 1,344.90 1.46
Arrow FTSE 5,901.07 1.81
Arrow DAX 6,766.67 1.67
Arrow CAC-40 3,427.92 1.52
Arrow Nikkei 8,831.93 0.51
Arrow H.Seng 20,757.00 0.08
Arrow Sensex 17,605.00 0.99

The Rupee

Interbank closing rates for dollar on Friday.
BuyingRs 90.40
SellingRs 90.45
All-round decline

Annual2010/11
Foreign Debt $59.53bn
Per Cap Income $1254
GDP Growth 2.4%
Average CPI 14.10%
MonthlyDecember
Trade Balance $-2.41 bln
Exports $1.85 bln
Imports $1.26 bln
WeeklyJanuary 26, 2012
Reserves $16.802 bln
ArrowBRIndex-30 9,104.17
ArrowKSE-30 Index 11,258.08
ArrowKSE-100 Index 11,982.62
ArrowLSE-25 Index 3,122.96
ArrowISE-10 Index 2,627.71
ArrowGold Per 10gm 50,914.00
ArrowKCA Spot Rate 5,700.00
ArrowLibor Rate 0.76850

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