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SECP initiates 86 show-cause proceedings ISLAMABAD: The Enforcement Department of Security and Exchange Commission (SECP) has initiated 86 show-cause proceedings and concluded 54 proceedings against chief executives, directors and auditors of companies in February and March 2014.The proceedings have been started to enforce compliance of corporate and allied laws, according to SECP press statement issued here Tuesday.The statement said, while facilitating companies to strengthen their capital base, the department allowed three listed companies to issue shares by way of otherwise than right at a discount and at par.In order to strengthen the existing regime of Corporate Social Responsibility (CSR) reporting, the SECP has joined hands with the ICAP for the external assurances of the CSR reports.CSR reports assist organizations in understanding and communicating their vision of combining a company's profitability with social responsibility and environmental care.Both the SECP and the ICAP have reaffirmed their commitment to developing a framework for external assurance in accordance with ...

Textile exports up 7.99pc in 3 quarters ISLAMABAD: Exports of textile products from the country witnessed positive growth of 7.99 percent during the first nine months of the current fiscal year when compared to the corresponding period of last year.The overall textile exports from the country were recorded at $10.385 billion during July-March (2013-14) as compared to the exports of $9.616 billion during July-March (2012-13), according to the latest data of Pakistan Bureau of Statistics (PBS).The textile products that witnessed positive growth ...
TDAP to be made corporate entity LAHORE: Trade Development Authority of Pakistan (TDAP) will be purged of work shirkers to turn it into a corporate entity having close coordination and liaison with all the chambers of commerce in the country. The TDAP Chief Executive Officer S.M. Muneer this assurance to business leaders here at Lahore Chamber of Commerce and Industry on Monday. The Authority, he added, would be revamped to ensure that no one dares to flout the rules. "I will ...
PTC contributes more than Rs 17 billion in government taxes in Q1 ISLAMABAD: Pakistan Tobacco Company (PTC) has announced its quarterly results for the first quarter ending March 31, 2014.According to the financial results released, the company contributed more than Rs. 17 billion in Government revenues on account of excise duty, sales tax and income tax, which depicts a 21% increase over the same period last year."This impressive growth in tax contribution even surpassed company's net turnover growth. The company also declared a profit of merely Rs. ...
TDAP committed to ensure maximum incentives to exporters  FAISALABAD: The Trade Development Authority of Pakistan (TDAP) is determined to ensure maximum incentives and facilities to exporters. This was stated by TDAP CEO S.M. Munir while talking to a delegation of Faisalabad Chamber of Commerce & Industry (FCCI) which met him at Iqbal Rice Mills, Chiniot, on Saturday. He said that business community and industrialists have to play their proactive role to achieve the cherished objective of progress and prosperity. He acknowledged the importance ...
IP rights crucial for competitive economy: DG IPO ISLAMABAD: Director General Intellectual Property Organization (IPO) Aamir Hassan Saturday said intellectual property rights were crucial for competitive economy in the backdrop of ongoing globalization.A comprehensive strategy and action plan regarding IP rights has been finalized and sent to the Cabinet Division for approval, he said in a statement."Media can play pivotal role in raising awareness of the menace of counterfeiting and piracy affecting the rights of consumers and investors," he added.The Director General said ...
SECP undertakes strict monitoring & vigilance of corporate sector KARACHI: The Chairman Securities and Exchange Commission of Pakistan (SECP) Tahir Mahmood has said that the SECP has been remaking its Standard Operating Procedures (SOPS) and procedures to ease the regulatory compliance.He was addressing a joint press conference here on Friday to highlight the recent achievements and developments of the SECP.Commissioner Specialized Companies Division Imtiaz Haider, Commissioner Insurance Asif Arif and Commissioner Securities Market Division Zafar Abdullah were also present at the occasion.Tahir Mahmood said ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln