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Chief of Army Staff General Raheel Sharif met Prime Minister Nawaz Sharif in Islamabad on Monday. They discussed overall security situation prevailing in the country. They also reviewed progress of the operation Zarb-e-Azb. The Prime Minister and army chief exchanged views over Altaf Hussain's speech in which the London-based MQM leader made highly objectionable remarks against the armed forces and called for the deployment of the UN and the NATO troops in Karachi.

Chief of Army Staff (COAS) General Raheel Sharif Monday said the Army will break the nexus between drug dealers, financiers and terrorists. "We will break the nexus between drug dealers, financiers and perpetrators of terrorism. We will not allow these drug barons to negatively influence and spoil our future generations," the COAS reiterated. During his visit to Anti-Narcotics Force Headquarters in Rawalpindi, he said that drug peddlers and those involved in its production are as much detrimental to national security as terrorists.
Interior Minister Chaudhry Nisar Ali Khan on Monday categorically dismissed reports that Tehreek-e-Insaf's (PTI) sit-in was a conspiracy against Chief of Army Staff (COAS) General Raheel Sharif, saying that such reports were completely baseless. The Interior Minister while talking to reporters after the inauguration ceremony of on-line renewal of Computerised National Identity Card (CNIC) at National Database and Registration Authority (Nadra's) headquarters, he said that the army, government and nation have full confidence in COAS.
China's approach to "democracy" issues attained a kind of a violent form in certain instances in the former middle kingdom following a qualitative intensity in the Arab Spring that had triggered popular uprisings on an unprecedented scale in North Africa and the Middle East. This prompted the founder of modern Singapore Lee Kwan Yew to famously say that what China or the Communist Party of China seeks to obtain at all cost in the country-a sea of humanity-"is not only law and order but very good law and order" to continue to pursue a higher economic growth objective religiously in a largely irreligious society. This is necessary to realisation of its ambitions of overtaking the world's largest economy, the US, in due course.
Ms. Sri Mulyani Indrawati, Managing Director World Bank called on Prime Minister Muhammad Nawaz Sharif at PM House here today. The Prime Minister appreciated the World Banks' continuous support to Pakistan. He said that priority areas of development strategy are Energy, Economy, and Education sectors. He welcomed the co-operation of World Band and the Development Partners in these areas.
World Bank Managing Director Sri Mulyani Indrawati along with her economic team met Finance Minister Ishaq Dar at the Finance Division Monday. Mulyani and her team discussed with the minister important issues related to growth and energy DPCs of the World Bank and the progress so far being made to reform the economy of Pakistan.
Banks have asked the Federal Board of Revenue (FBR) to clarify whether withholding tax under section 236P of the Income Tax Ordinance, 2001 is applicable on foreign currency accounts, instruments and Home Remittance Exchange Companies transactions. Sources told Business Recorder Monday that Pakistan Banks Association (PBA) has asked the FBR to respond to the queries and clarifications with respect to applicability of collection of advance tax under section 236P of the Income Tax Ordinance, 2001.
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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln