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ICCI concerns over consecutive decline in textile exports ISLAMABAD: Textile industry is the only hope for the revival of country's economy which is currently jolted by the high cost of energy and prolonged power outages. This was stated by Yassar Sakhi Butt, President Islamabad Chamber of Commerce and Industry while commenting on the decline of textile exports by 10.38 percent in FY11-12. ICCI President was responding to the released figures of the Pakistan Bureau of Statistics which shows that textile sectors cumulative exports have declined to $12.35 billion against $13.78 billion in the same period last year. He said that energy shortage was the prime cause of decline in exports because 40 percent of production capacity of textile industry is dysfunctional due to short supply of electricity and gas.  He said that Pakistan is one of the largest cotton-producing countries of the world that employs the largest number of human resource. Government should immediately review the situation and provide uninterrupted power supply to ...

ST on services: SRB asks taxpayers to deposit dues by 25th  RECORDER REPORT KARACHI: Sindh Revenue Board (SRB) on Friday advised its registered taxpayer companies and individuals to deposit their sales tax on services dues by July 25. A notification issued here on Friday said: “In exercise of the powers conferred by section 81 of the Sindh Sales tax on services Act 2011, SRB is pleased to permit registered taxpayers and withholding agents to deposit the amounts of sales tax o b services for the tax period of ...
REAP urges govt to reinstate former TDAP chairman  RECORDER REPORT LAHORE: The Rice Exporters Association of Pakistan (REAP) on Thursday urged the government to reinstate the former Chairman of Trade Development Authority of Pakistan (TDAP) Tariq Iqbal Puri for the sake of trade and industry. In a statement issued here, the REAP Chairman Javaid Islam Agha said that Tariq Puri was one of the most successful chairmen of TDAP and had close liaison with all the chambers and sector-specific associations in the country. It is ...
Work on 250 KV Hydro power project inaugurates at Kalash valley  CHITRAL: The construction work on 250 KV Kalash hydro power project was inaugurated in Kalash valley for electrification the entire valley. A function was held in this connection where District Coordination Officer (DCO) Chitral Rahmatullah Wazir was the chief guest. Addressing the occasion Engineer Temour Shah, Coordinator of Rural Community Development Program (RCDP) informed that new Kalash hydro power project will bring revolutionary change in Kalash valley. He thanked the USAID and National Rural Support Program for ...
SECP takes enforcement action against directors, auditors  ISLAMABAD: In order to ensure the compliance of prevailing laws and statues by regulatees, the Enforcement Department of the Securities and Exchange Commission of Pakistan (SECP) has taken enforcement action against directors and auditors of 20 listed and unlisted companies. According to a statement issued by the SECP here Thursday, the SECP monitors the affairs of listed and unlisted companies and their statutory auditors. During May and June, various regulatory and punitive actions were initiated against directors ...
Growth signs in Pak economy inspiring: Australian Economic Counseller ISLAMABAD: Pakistan's natural and human resource potential was matchless, Economic Counseller of Australian High Commission, Melissa Kelly, said Thursday while declaring some of the recent signs of growth in Pakistan as very inspiring. Melissa Kelly was talking to a delegation of Federal of Pakistan Chambers of Commerce and Industry (FPCCI) that included Chairman FPCCI Standing Committee on Diplomatic Affairs, Sheikh Humayun Sayeed and Chairman Media FPCCI, Malik Sohail. "Despite numerous challenges Pakistan's economy was doing well which ...
Farmers advised to complete Corn sowing by August 15 RAWALPINDI: The Punjab Agriculture Department on Thursday advised the farmers to ensure sowing of Corn seed with appropriate ploughing by August 15 for getting better results. A spokesman of the department said the Punjab Seed Corporation is providing services to supply quality seeds to farmers, adding that hybrid seeds are equally suitable for both the Kharif and Rabi seasons. The seeds have the capacity to produce 90 to 100 and 100 to 120 maund production per acre ...


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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