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‘Taxpayer Honour Card’ scheme: FBR yet to chalk out basic parameters  SOHAIL SARFRAZ ISLAMABAD: The Federal Board of Revenue (FBR) is yet to chalk out basic parameters of the ‘Taxpayer Honour Card’ scheme announced by Finance Minister Dr Abdul Hafeez Sheikh in his Budget (2012-13) speech. It is reliably learnt on Monday that the FBR has not even started even basic work on this most important announcement made for honest taxpayers during budget (2012-13). The details of the ‘Taxpayer Honour Card’ scheme have also not been made part of the budget explanatory circular issued after the budget. In budget speech (2012-13), the Finance Minister announced that, “the tax  collection  has  improved  due  to  the  cooperation  of  law  abiding businesses and individuals. The government appreciates them. To recognize them, a Taxpayers’ Honour Card is being introduced. It will entitle its holders to concessions and facilities at various public and private forums such as Nadra, Passport offices, Airports, Customs, Immigration, FBR and other public offices. ...

Poultry items likely to cost more  RECORDER REPORT MULTAN: Former chairman of Pakistan Poultries Association Syed Tahir Ali Zaidi feared that eggs and chicken are likely to cost more in the coming months following considerable increase in poultry feed prices due to lack of rainfall and higher global rates this year. Talking to newsmen here on Monday, he said that average prices of poultry feed consisting of oilseed cakes, rice bran, grounded maize and soya rose up to 39 percent year-on-year in July, ...
Reap hails 150bps reduction in policy rate  RECORDER REPORT LAHORE: The Rice Exporters Association of Pakistan (Reap) hailing the move of the State Bank of Pakistan to slash its benchmark interest rate by 150 basis points to 10.5 percent has asked the central bank to also cut the rate of export refinance to bring down cost of doing business of exporters. Reap Chairman Javed Islam Agha in a statement here on Monday said that cut in policy rate to 10.5 percent was a first ...
Pakistani business leader urges expansion of US economic engagement  WASHINGTON: The United States should expand its economic engagement with Pakistan to help foster prosperity and security in the region, a leading Pakistani industrialist, Javed Elahi, said. Elahi told a gathering in the Washington and Pakistani notables that the events of the last decade have proved that force cannot resolve problems. "The people of Pakistan are not against the American people, they only oppose some US policies like the over-reliance on military power," he said in reference ...
FWBL and SMEDA join hands KARACHI: The First Women Bank Limited (FWBL) and Small and Medium Enterprise Development Authority (SMEDA), an autonomous statutory body working under the Ministry of Industries, for the development and promotion of the small and medium enterprises, have joined hands to work together for the promotion and development of women entrepreneurship in Pakistan. A spokesperson for the FWBL said that a signing ceremony was held at the FWBL Head office here on Monday. Mrs. Shafqat Sultana, President FWBL, ...
SNGPL-based fertilizer plants face Rs5.5bn revenue loss  LAHORE: In first half of current year, the SNGPL-based fertilizer plants including Agritech, DH Fertilizers, Pak Arab and Engro's new plant faced a collective revenue loss of Rs5.5 billion, following their total urea sales of 150,000 tonnes as compared to 316,000 tonnes during corresponding period last year. While, the total urea production of the plants operating on Sui Northern Gas Pipeline Limited (SNGPL) in the first six months of 2012 remained at 198,000 tonnes against 297,000 ...
Tax record, soft data: FBR, AGP finally sort out contentious issues  RECORDER REPORT ISLAMABAD: The Federal Board of Revenue and Auditor General of Pakistan have decided to sort out the most controversial issue related to provision of sales tax registered person’s record to the AGP and access to FBR’s soft data to the audit officers of the AGP for scrutiny. Sources told Business Recorder here on Saturday that the FBR and AGP would convene a meeting on August 15, 2012 in this regard. The FBR and the AGP ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln