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FPCCI President for extension in date for tax returns filing KARACHI: President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zakaria Usman has called for extension in the date for filing of income tax returns to Dec.31, 2014 from the present deadline of Sept.30, 2014.He also urged the Federal Board of Revenue (FBR) to avoid making changes in taxation rules, said FPCCI release here on Thursday.President FPCCI, Zakaria Usman has expressed his serious reservations over the imposition of new rules in FBR for filing income tax returns till the month of December 2014. At a time when taxpayers will have only less than 12 days to file tax return forms, the FBR has almost finalized the return form for the tax year 2013 which is not practically possible to follow for the tax payers. He recalled that in the past also the FBR introduced new tax return forms in different periods. But, it had to take them back due ...

Services trade deficit up by 22.96pc in July ISLAMABAD: Services trade deficit during first month (July) of current fiscal year 2014-15 expanded by 22.96 percent as services exports decreased by 3.85 percent while imports witnessed an increase of 6.78 percent as compared to the same period of last year.On month of month basis, the services trade deficit decreased by 18.25 percent in July 2014 when compared to the deficit of June 2014, according to the latest data of Pakistan Bureau of Statistics (PBS).According ...
Sindh to freeze wheat issue price at Rs 3450/100 kg KARACHI: Sindh Chief Minister Syed Qaim Ali Shah has approved the previous issue price of wheat at Rs 3450 per 100 kg for current financial year to maintain the flour price.He said that the provincial government had earmarked Rs 3 billion for the wheat subsidy but the decision to maintain the issue price at of the last year would require an additional amount of Rs 1.7 billion and raise total subsidy amount to Rs 4.7 ...
Prices of vegetable witness upward trend ISLAMABAD: The prices of vegetable have been witnessing upward trend in the federal capital as a result of flash floods in various parts of Punjab province.According to price list issued by Directorate of Municipal Administration (DMA), Capital Development Authority (CDA) for Tuesday H-9 bazaar, the prices of vegetables have shown increase.The H-9 bazaar officials said that the increase is due to flood situation in various parts of Punjab, adding that in various areas, standing crops ...
Weekly Inflation goes up ISLAMABAD: The Sensitive Price Indicator (SPI) for the week ended on September 11 for the lowest income group up to Rs. 8,000 registered increase of 0.62 percent as compared to the previous week.The SPI for the week under review in the above mentioned group was recorded at 209.28 points against 208.00 points registered in the previous week, according to data of Pakistan Bureau of Statistics (PBS).The weekly SPI has been computed with base 2007-2008=100, covering ...
Danish trade delegation to visit Pakistan in October: Ambassador KARACHI: Ambassador of Denmark, Jesper Moller Sorensen has said that for the first time, a trade delegation from Denmark will be visiting Pakistan in October 2014 to explore ways and means of enhancing trade and look for partnership in various sectors.Exchanging views with KCCI office bearers during his visit to Karachi Chamber on Thursday, the Danish Ambassador said that representatives of eight Pakistani companies will also be visiting Denmark this month (September) where they will ...
China to invest $50bn in development projects in Pakistan ISLAMABAD: China intends to invest as many as $50 billion by 2017 in various sectors of Pakistan's economy, particularly in energy sector to help the country overcome power crisis and help sustainable economic growth, President Pak-China Joint Chamber of Commerce and Industry Shah Faisal Afridi said."China has planned to replicate the model of Shanghai Free Trade Zone (SFTZ) by investing $50 billion into a number of projects including coal, solar and wind energy till 2017 ...


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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