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Growth rate stays at 3.6pc in 2012-13, 3pc in last five years ISLAMABAD: Terming the energy crisis one of the major causes of low performance of economy, Federal Minister for Finance Mohamamd Ishaq Dar Tuesday said that growth rate during the outgoing fiscal year stayed at 3.6 per cent against the target of 4.3 per cent.The average growth rate for the past five years remained as low as 3 per cent, which is alarming when compared to the 2.1 pc growth in the population, said Dar while addressing a press conference at the launching ceremony of Economic Survey of Pakistan 2012-13.He was flanked by Federal Minister for Planning and Development Ahsan Iqbal, Secretary Finance Waqar Masood and other officials of Finance and Planning divisions.He said almost 2 per cent of GDP growth was lost due to the energy crisis that aggravated due to circular debt and line losses.Ishaq Dar said that fiscal deficit was also alarming. Against the fiscal deficit target of ...

Google grabs maps app Waze in billion-dollar deal NEW YORK: Google on Tuesday announced a deal reported to worth over $1 billion for crowd-sourced map app Waze in a move to stay ahead of Apple and Facebook in lifestyles centered on smartphones and tablets.The US Internet search giant did not reveal the price it is paying for Israel-based Waze, but Israeli news outlets Globes and Calcalist over the weekend estimated the deal's value at $1.3 billion."To help you outsmart traffic, today we're excited ...

PM chairs high level meeting; cabinet committee on energy constituted ISLAMABAD: A Cabinet Committee on Energy (CCE) constituted on Tuesday would meet fortnightly to take decisions on matters relating to the entire power chain including generation and distribution.The CCE will be chaired by Prime Minister Muhammad Nawaz Sharif with Ministers for Finance, Water and Power, Petroleum and Natural Resources and Chief Minister Punjab as its members.The decision was taken during a high level meeting chaired by the Prime Minister to review the energy situation which ...

Minister emphasizes good governess, transparency in every sector ISLAMABAD: Minister of State for Science and Technology Khurram Dastgir Tuesday said good governess, transparency, integrity and efficiency in every sector is the priority of the government.He stated this while chairing a meeting of the heads of organizations and senior officers of the ministry.Federal Secretary for Science and Technology Akhlaq Ahmad Tarar gave a detailed presentation of the ministry and its organizations.The minister was pleased to know that NUST and Comsats are the centre of ...

PML (F), PML (N) submit application for allocation of opposition seats KARACHI: Pakistan Muslim League (Functional) and Pakistan Muslim League (Nawaz) have submitted an application to the Speaker of Sindh Assembly for allocation of opposition seats to them in the house.Earlier MPAs belonging to the two parties in their joint meeting held on Sindh Assembly premises, Tuesday, formally decided to sit on the opposition seats in Sindh Assembly.The meeting was attended by Imtiaz Ahmed Shaikh, Haji Khuda Baksh Rajar, Pir Mohammad Rashid Shah, Waryam Faqir, Said ...

PPP, PML-N exhibiting democratic behaviour: Wassan KARACHI: Sindh Minister Manzoor Hussain Wassan has said that Pakistan People's Party (PPP) and Pakistan Muslim League- Nawaz (PML-N) are exhibiting democratic behaviour and an example of this was witnessed during President Asif Ali Zaradri's address to the Parliament's joint session.He said this on the occasion of visit to the Sindh Chief Minister (CM) House Complaint Cell here on Tuesday.About Lyari, Wassan said that this is an old locality of Karachi city and that the ...


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Foreign Debt $60.9bn
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WeeklyJuly 10, 2014
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