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MQM suggest Indian trade, tourism links via Bwp, Wahga, Khi ISLAMABAD: The Muttahida Qaumi Movement Wednesday suggested the government to start trade with India through borders of Bahawalpur and Wahga, besides a ferry service between Karachi and Mumbai for tourists. Resuming his speech on the federal budget 2012-13, Minister for Overseas Pakistanis and MQM's Parliamentary Leader Dr Farooq Sattar said the creation of more provinces including Bahawalpur, Janoobi Punjab, Hazara and FATA was inevitable that had been suggested in the shadow budget presented by the MQM. He sought special allocations for Karachi Circular Railways, up-gradation of sewage and water supply projects in Karachi, adding during last four years no special projects have been executed in Karachi as well as other Sindh cities. Sattar stressed the government to prioritize energy sector and that power crisis issue can be resolved by reprioritizing the gas distribution to various sectors. He proposed the establishment of solar panels industry at local level instead of banking upon imported products to ...

SCO to provide platform to discuss bilateral issues ISLAMABAD: Professor Peshawar University, Dr. Sarfaraz Khan said that Shanghai Cooperation Organization (SCO) provides a platform to the countries of the region to negotiate on bilateral issues and Pakistan gives importance to it. Talking to a private news channel, he said it was established to cope with terrorism and prevent drug trafficking in the region after the incident of 9/11. He added that gradually economic cooperation among the member countries also became part of the organization. Dr. Sarfaraz ...
Value-added textile sector seeks to set up buffer stock of 4mn cotton bales  ANWAR KHAN KARACHI: The value-added textile sector wants the government to establish buffer stock of over four million of cotton bales to avoid yarn crisis in the country, as it apprehending at least $1.25 billion decline in export during the current fiscal year. The fiscal budget 2012-13 left manufacturers and exporters of value-added textile sector disappointed as the government failed to earmark funds for the textile sector, exporters said. They say the shortage of gas and electricity ...
Alternate documentation measures to help collect 1pc tax  SOHAIL SARFRAZ ISLAMABAD: The Federal Board of Revenue Member Inland Revenue Shahid Hussain Asad on Tuesday said the business community has strongly resisted sales tax SRO 191(I)/2011 for the last one year and now an alternate documentation measure would be taken by making mandatory for manufacturers to collect one percent tax against the sales made to traders/distributors under Finance Bill (2012-13). Top tax manager informed the Senate Standing Committee on Finance that the FBR tried its level ...
FBR to clip IR officers RECORDER REPORT ISLAMABAD: The Federal Board of Revenue will curtail the powers of the Inland Revenue officers for valuation of the assets for which the Board has been empowered under the Finance Bill (2012-13) to prescribe rules for valuation or determination of the market value of the assets for implementation of the Capital Gains Tax (CGT) on sale of property. While reviewing Finance Bill (2012-13) here on Tuesday, FBR Member Inland Revenue Shahid Hussain Asad and Chief ...
Economic weakness will weaken the national integrity: Sattar  ISLAMABAD: The Muttahida Qaumi Movement Tuesday stressed the people's involvement in economic policy making, warning the government that lack of participation in the national affairs by the less developed areas could be harmful to the national integration. Taking part in the general discussion on federal budget 2012-13, Minister for Overseas Pakistan and MQM's Parliamentary Leader Dr Farooq Sattar said it was unfortunate 98 percent people have no say in economic policy making. He said though the parliament ...
No decision on imposition of new levy on CNG sector: Spokesman  ISLAMABAD: The Ministry of Petroleum & Natural Resources on Tuesday termed the call for indefinite strike by CNG Dealers Association against reported imposition of new levy on CNG sector as unjustified and uncalled for. A spokesman of the ministry referred to media reports suggesting about the strike and clarified that no decision regarding imposition of new levy/cess had yet been taken so far and the office bearers of all Pakistan CNG Association (APCNGA) had been apprised ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln