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Budget is of no help: PTEA Chairman  RECORDER REPORT FAISALABAD: The budget is full of wrong allocation of funds and misplacement of priorities. Budget makers have failed to realise the importance of major irritations besetting the economy and evolving appropriate strategy for their solutions, Pakistan Textile Exporters Association (PTEA) Chairman Rana Arif Tauseef said here on Saturday. Addressing a press conference Rana Arif Tauseef welcomed but termed insufficient and misappropriate use of suggestions to drag out textile sector from crisis and said it was once again sending its recommendations to the parliamentarians for consideration in the debate on federal budget.  He said the three main points were identified including energy crisis, immediate payment of duty drawbacks and exemption of withholding tax on exports. He said the government had touched all those issues but failed to resolve any one on permanent basis. Elaborating he said they had demanded 30 billion rupees for drawback refund but the government had allocated this amount in ...

All Pakistan Trade Unions Organization hails federal budget  KARACHI: The All Pakistan Trade Unions Organization has hailed the federal budget for the fiscal 2012-13. In a statement here on Saturday, the central chairman of the organization, Habibuddin Junaidi, said that inspite of the international recession and difficult economic situation in the country, this budget was a balanced one. He also hailed 20 percent increase in the salaries of the government employees and enhancement in pension rate to Rs 3,600 per month. Junaidi demanded that the salaries ...
WAPDA Chairman directs safety, protection of national asset Tarbela Dam foremost priority LAHORE: In wake of fire incident in jungle adjacent to Tarbela Dam Thursday night, Water & Power Development Authority WAPDA Chairman Shakil Durrani Saturday had detailed round of various components of project, switchyard and power station in particular. Talking to WAPDA Member (Power) Muhammad Qasim Khan, General Manager Tarbela Dam Project Hazrat Umar, General Manager (Hydel) Operation Wajid Hameed, other senior officers, Durrani said Tarbela Dam had been playing pivotal role for national economy since its ...
Rs.183bn reserved to solve power crisis ISLAMABAD: Minister for Finance Dr. Abdul Hafeez Shaikh on Saturday said Rs. 183 billion had been reserved in the budget to solve the energy crisis in the country. Speaking at a post-budget news conference here at a local hotel he said that around Rs. 250 billion had been spent so far to provide relief to people. Some of that amount was paid for circular debt, while subsidy was also given to provide electricity to people at ...
PTCL organizes retailers KARACHI: The Pakistan Telecommunication Company Limited (PTCL), held a rigorous retailers' conference here as part of its sustained national outreach for retailers and distributors. An official of the company said here on Saturday that the conference was attended by a large number of PTCL's retailers, business partners and national distributors. He said that PTCL SEVP Commercial, Naveed Saeed (Center); SEVP Business Zone South, Furqan Habib Qureshi; and other senior PTCL officials were present on the occasion. The official ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln