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Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif on Tuesday chaired a meeting of experts in which various immediate measures were discussed to minimise electricity loadshedding. Sources in the PML-N told Business Recorder that the meeting decided to use all available options to tackle the electricity crisis in minimum possible time.

Pakistan and China are expected to sign a number of Memoranda of Understanding (MoUs) in various fields including energy and science and technology during the two day (May 22-23) visit of Chinese Prime Minister Li Keqiang who is arriving in Islamabad on Wednesday (today), official sources told Business Recorder.
The federal ministry of finance on Tuesday released Rs 15 billion to the ministry of water and power with an aim to ease severe crisis of power outages in the country. The amount has been released on instructions of the caretaker Prime Minister Mir Hazar Khan Khoso. Sources said that the amount will be utilised to buy furnace oil for thermal power plants.
The Supreme Court on Tuesday issued directives to Auditor General of Pakistan (AGP) to conduct a special audit of all development schemes initiated under People's Work Development Programme-II (PWDP) by the then Prime Minister, Raja Pervez Ashraf, by using discretionary powers during financial year 2012-13.
Pakistan received foreign assistance of $1.78 billion in the first nine months (July-March) of the current fiscal year which includes $930.7 million from multilateral donors and $257.2 million from bilaterals. Documents obtained by Business Recorder revealed that from July 2012 till March 31, 2013, China remained the largest loan provider to Pakistan disbursing $412.3 million.
Presidential Ordinance on taxation measure has proposed 16 percent standard rate of sales tax on sugar. Sources told Business Recorder here on Tuesday that earlier the FBR has proposed to enhance sales tax on sugar in coming budget (2013-14). Now, the 16 percent sales tax on the commodity would be imposed through the Presidential Ordinance before the announcement of budget.
The Federal Board of Revenue has provisionally collected Rs 1,591.6 billion during July-May 18 (2012-13) against Rs 1,502.9 billion in same period last fiscal year, reflecting an increase of 5.9 percent. Sources told Business Recorder here on Tuesday that the budgetary target of Rs 2,381 billion was revised downward to Rs 2,191 billion for 2012-13.
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Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyApril
Trade Balance $-1.779 bln
Exports $2.130 bln
Imports $3.909 bln
WeeklyMay 20, 2013
Reserves $11.601 bln