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ICCI calls for documented economy to broaden tax net ISLAMABAD: President, Islamabad Chamber of Commerce and Industry (ICCI) Muzzamil Hussain Sabri on Friday said that business community supports documented economy and wants to pay taxes because no economy could develop without tax revenue.While addressing a meeting at Islamabad Chamber of Commerce and Industry (ICCI),Muzzamil H.Sabri expressed concerns over the complicated e-filing system of tax returns and called upon the Federal Board of Revenue (FBR) to simplify it in order to make it more user-friendly and easier for taxpayers, according to a press release issued.He said the prevailing e-filing system needs to be further simplified as it requires considerable time and effort to provide all required details.President ICCI said the system is particularly difficult for small traders who are not well computer literate and they have to hire the services of experts for preparing and e-filing of their tax returns due to which it imposes extra cost on them.He said ...

Gems exports up 12.67pc, jewellary down by 96.84pc in two months ISLAMABAD: Gems exports from the country during the first two months of current financial year registered an increase of 12.67 percent as compared to the same period of last financial year.About 2 metric tons of gems worth US$ 1.06 million exported from July- August 2014 as compared to the exports of one metric tons worth US$ 0.947 million of corresponding period of last financial year.According to the data of Pakistan Bureau of Statistics, Jewellary exports ...
Pak's pharmaceutical exports likely to touch $ 2000mn by 2018 KARACHI: Pakistan's pharmaceutical exports are presently over $ 800 million, annually, expected to touch $ 2000 million mark by 2018.This was said by Member Senate Standing Committee on National Health Services, Regulations and Coordination, Senator Abdul Haseeb Khan while talking to media at Karachi Press Club here on Thursday.He said that existing laws be strictly implemented in letter and spirit to check and eliminate manufacturing and sale of spurious and substandard drugs in the country.He ...
FBR collects Rs.549bn revenues in first quarter of current financial year ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs.549 billion till September 30, 2014 in the first quarter of current fiscal year 2014-15 against the collections of Rs.481 billion taxes in the same period of last fiscal showing an increase of 14 percent, a senior official of the board said.Member Inland Revenues and Spokesman of the FBR, Shahid Hussian Asad told APP here on Wednesday that the FBR as collected Rs.230 billion revenues in the ...
SECP gets re-elected to Global Securities Regulatory Board ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) got re-elected to the International Organization of Securities Commissions (IOSCO) Board on Wednesday at the organization's Annual Conference in Rio, Brazil."This will be the SECP's second consecutive term to represent the Asia-Pacific region within the Board 2014-2016 after the successful completion of first term on the Board 2012-2014", said a statement issued by the Commission here today.The IOSCO is a global standard setting body for securities ...
CPI-based inflation up by 7.68pc in September ISLAMABAD: The country's Consumer Price Index (CPI) based inflation rate during September 2014 increased by 7.68 percent as compared to that of September 2013.The Wholesale Price Index (WPI) and Sensitive Prices Index (SPI) in September increased by 2.74 percent and 5.37 percent respectively when compared to September 2013.On month-on-month basis, the CPI inflation increased by 0.4 percent in September 2014 compared to August 2014.According to data released by Pakistan Bureau of Statistics (PBS) on Wednesday, ...
Food department materializes measures to enhance wheat storage capacity KARACHI: Sindh Food Department is in fast process to complete construction of 767 concrete procurement platforms enhancing its wheat storage capacity to minimum 10,00,000 metric tones at any given time, said Jam Mehtab Hussain Dharki, provincial minister for food.Chairing a meeting in his office Wednesday, he said 221 of these platforms have already been completed, under development work initiated by the department while 546 are near completion."Once all these procurement platforms are completed we would ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln