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Govt allocates Rs.72m for Labour Dept PESHAWAR: Finance Minister Khyber Pakthunkhwa Engr Hamayun Khan on Friday announced Rs.72.290 million for Labour Department in budget for year 2012-13. The Minister said, in his budget speech, that the Labour Department had an important role in maintaining the supervisory and regulatory standards for employees of both the formal and informal sectors. The department's development portfolio focuses upon establishment of child and bonded labour unit and construction of building for its directorate. An allocation of Rs.72.290 million has been made for three schemes in this sector. Copyright APP (Associated Press of Pakistan), 2012 ...

4,655 MW power shortfall recorded  ISLAMABAD: The electricity shortfall in the country on Thursday remained at 4,655 MW as the total power generation was recorded as 12,045 MW against the demand of 16,700 MW during the last 24 hours. According to report on daily power generation and load-management position, the hydel generation stood at 4,673 MW, WAPDA thermal 1,398 MW and IPPs 5,974 MW. As many as 700 MW was supplied to Karachi Electric Supply Company (KESC), the report further said. The hydel ...
Forex reserves slips to $ 15.536bn  KARACHI: Country's foreign exchange reserves have plunged by $ 470 million to around $ 15,536 billion as on June 1, 2012 on foreign payments. According State Bank of Pakistan here Thursday, the foreign exchange reserves held by the Central Bank decreased to $ 11.244 billion while reserves held by banks dropped to about $ 4.292 billion dduring the week. Copyright APP (Associated Press of Pakistan), 2012 ...
110,059 cars produced this year; 9.1pc growth registered  ISLAMABAD: Pakistan has produced 110,059 cars during first three quarters of current fiscal year as compared to 100,870 units during the same period last year, showing 9.1 percent growth. The automobile industry seems to be less buoyant in comparison with the corresponding period of last year as its four sectors showed mixed trends of growth during the period. Pakistan Automotive Manufacturing Association (PAMA)'s data said on Thursday that buses, cars, Light Commercial Vehicles (LCVs) and two/three wheelers ...
Commercial exporters: SRO 191, audit condition withdrawn  RECORDER REPORT KARACHI: The Federal Board of Revenue (FBR) has, in principle, decided to withdraw SRO 191 and an audit condition for commercial importers paying 3 percent value-addition tax with immediate effect. Sources said that now, FBR would not asked registered persons to collect NTNs or CNICs of unregistered buyers or sellers. Pereviously, FBR had been pressing registered persons to provide details of unregistered buyers in their monthly sales tax returns. A round of talks was held between tax ...
FBR ready could reduce ST, corporate income tax rates  RECORDER REPORT ISLAMABAD: Federal Board of Revenue (FBR) Member Inland Revenue Shahid Hussain Asad has said that the Federal Board of Revenue (FBR) is ready to bring down rates of sales tax and corporate income tax following broadening of the tax-base and documentation of economy which would be instrumental in generating additional revenue. FBR Member Inland Revenue informed the Senate Standing Committee on Finance here on Wednesday, if the government achieves the desirable results of the broadening ...
FBR presents legal viewpoint  RECORDER REPORT ISLAMABAD: Federal Board of Revenue (FBR), Member Legal Muhammad Aqil Usman on Wednesday submitted legal viewpoint of the Law and Justice Division on the imposition of the capital gain tax (CGT) on immovable property before the Senate Standing Committee on Finance, paving way for the FBR to collect the CGT on sale of property after amendment in entry No. 50 of the Federal Legislative List through the Constitution Eighteenth Amendment Act, 2010. Aqil Usman having ...


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