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Tax Reforms Commission meeting on Saturday ISLAMABAD: Tax Reform Commission would meet on October 18 (Saturday) to review the tax collection progress and addressing the issues to promote tax culture in the country.According to a statement issued by the Ministry of Finance here Wednesday Federal Minister for Finance, Senator Mohammad Ishaq Dar will chair the first meeting of the Tax Reforms Commission.The Commission was constituted last month with the resolve to facilitate the general public regarding tax issues and promoting tax culture in the country.While the Commission also taking into consideration the suggestions of the people to improve the taxation system and improving the tax to GDP ratio for boosting the economy.The Commission as its duties, shall undertake, review and rationalization of direct and indirect taxes, customs tariff rationalization, review of autonomy and administrative structure of Federal Board of Revenue and creation of border force to deal with illegal movement of persons and goods across the ...

Winter wear sale shoot up in twin cities ISLAMABAD: With the arrival of a cold wave, sale of new and used winter clothes shoot up as witnessed in different markets in the twin cities of Islamabad and Rawalpindi.The winter season, just at the corner, the recent showers and yesterdays gushing winds forced the people, especially the motorcyclist to put up wind breakers and jackets. Those who were caught up misway, preferred to buy afresh while others made early winter shopping."I have come here ...
Pakistani mangoes no more under observation by European Union: Khurram ISLAMABAD: Federal Minister for Commerce, Engr. Khurram Dastgir Khan has said that European Union has removed the yellow flag that they put on Pakistani mangoes at the start of the current mango season and now the Pakistani mangoes are no more under observation by the European Union.According to the details, last year, 237 consignments of Pakistani mangoes were rejected by the EU authorities mainly due to infestation with fruit fly.The situation was worse in case ...
SECP prepares drafts bill for introducing Limited Liability Partnership ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) here on Monday said that the Commission has prepared a draft bill for introducing Limited liability Partnership (LLP) in the country.The proposed LLP aiming at documentation of national economy by improving the legislation for the corporate sector which is expected to enable entrepreneurs, professionals and enterprises providing services of any kind or engaged in scientific and technical disciplines to form commercially efficient model suited to their requirements.In ...
Setting up new small industrial estates on cards SIALKOT: The Punjab government is actively considering to establish more small industrial estates to facilitate the SMEs, vendors and manufacturers of the city.Official sources told APP here Saturday that the step was being taken on the pressing demands of local trade bodies including Sialkot Chamber of Commerce and Industry (SCCI) to accommodate the vendors and manufacturers of the city.After conducting a joint survey by the Punjab Small Industries Corporation (PSIC) in collaboration of Sialkot Chamber ...
KCCI urges FBR to make public its list of non tax payers KARACHI: President, Karachi Chamber of Commerce and Industry (KCCI), Iftikhar Ahmed Vohra has urged the Federal Bureau of Revenue (FBR) to make public the list it has frequently claimed to compile of more than 700,000 individuals leading a lavish life style.In a statement the KCCI chief said the FBR officials have repeatedly said that majority of these 700,000 people also hold assets worth millions but are not paying any taxes.Vohra regretted that neither this list ...
Production of automobiles goes up in July ISLAMABAD: The production of various automobiles witnessed considerable increase during the first month of current fiscal year (July 2014) compared to the production of the same month of last year.According to the data of Pakistan Bureau of Statistics (PBS), the production of trucks witnessed increase of 30.12 percent in July 2014 compared to the output of July 2013. As many as 216 trucks were manufactured in July 2014 compared to the production of 166 trucks ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln