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The government has projected a GDP growth rate of 5.5 percent for 2015-16 backed by projected growth of 3.9% in agriculture, 6.4% industry (with 6 percent in large scale manufacturing sector, 8.3 percent in small and household, 8.5 percent in construction industry and 6% in electricity generation and gas distribution), and 5.7 percent in services sector, according to an official document. The government is projecting a growth of 15.2% in indirect taxes in 2015-16 budget - a projection less than half of 34.2 % which it claims was achieved between 2013-14 and 2014-15.

The Federal Board of Revenue (FBR) is proposing the government to enhance Federal Excise Duty (FED) on sugar, beverages and edible oil to generate additional revenue in budget (2015-16). Sources told Business Recorder on Monday that the budget makers are examining different options for raising the incidence of taxes on these commodities/items its effect on common man.
Violent protests engulfed Daska, a tehsil of Sialkot, on Monday as protesting lawyers set ablaze several government offices and damaged private property after a police officer killed two lawyers, including the president of the local bar association. Lawyers in Lahore, Faisalabad, Gujranwala, and Multan also staged protest demonstration against the killing of their colleagues.
A lawyer, Aamir Shehzad Bajwa, went to the record room of Daska Tehsil Municipal Administration (TMA) to get a copy of a 'Nikkah Nama' where record keeper Farooq Ahmed allegedly misbehaved with him. The lawyer called in some colleagues who allegedly thrashed the TMA employees, including Khalid Pervaiz (President Employees Association TMA Daska), Shani Mehar, Khurram Shehzad, Naeem Khan and Maulavi Muhammad Ishaq.
DPO Asif Shahzad said things turned violent when police tried to stop lawyers who were "rioting" in the tehsil's Municipal Administration Office. He said that following a confrontation, the SHO fired gun shots which severely injured three lawyers including the bar association president. Shahzad said that the SHO who fired the shots has been taken into custody.
President Alexander Lukashenko of Belarus is arriving on a two-day official visit today (Tuesday). This will be the first ever visit by a Belarusian President to Pakistan. The President of Belarus is leading a high powered delegation. According to Foreign Office spokesperson Qazi Khalilullah, a number of important agreements/MoUs are expected to be signed during his visit to the country.
Adviser to the Prime Minister on National Security and Foreign Affairs on Monday declared that "enemies of Afghanistan are enemies of Pakistan" and the two neighbours have resolved to root out the menace of terrorism through co-ordinated efforts. Inaugurating the first senior officials' meeting of the Heart of Asia- Istanbul Process here, the Adviser said that peace and prosperity in the region - an essential element for socio-economic development - can only be achieved in an environment of trust and mutual confidence.
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln