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Chinese President Xi Jinping is arriving here on Monday on a two-day (April 20-21) state visit with a massive economic package. Both Pakistan and China are expected to sign $45 billion energy, communication and infrastructure projects during the Chinese President's visit to Pakistan.

Pakistan and China are re-negotiating agreement for the avoidance of double taxation convention and the prevention of fiscal evasion with respect to taxes on income. Sources told Business Recorder Saturday that the revised convention may not be inked during the upcoming visit of Chinese President as the re-renegotiations have yet to be started between the tax authorities of both the countries.
President Mamnoon Hussain, on the advice of Prime Minister Nawaz Sharif, has summoned joint session of the parliament on April 21. Chinese President Xi Jinping will address the joint session of the parliament, summoned at 9:25 AM on April 21. Sources said 60-man entourage including China's first lady will also attend the session as guest.
Finance Minister Ishaq Dar Friday said Prime Minister Nawaz Sharif has enunciated peace for development as the defining principle of Pakistan's foreign policy. "Building a peaceful neighbourhood and a rebalancing between geo-strategic and geo-economic priorities constitute the main pillars of this policy. Our government has embarked on resolute efforts to create a peaceful external and internal environment so that the core national objectives of economic development are achieved," Dar said while addressing at reputed think tank, Carnegie Endowment for International Peace Washington on "Revival of Pakistan Economy and its Future Prospects."
The International Monetary Fund warned in a communique on Saturday that while economic growth in developed countries had strengthened, some emerging nations were being hit by weaker commodity prices and exports. With the United States poised to hike interest rates, the IMF member nations said it was essential that moves to "policy normalisation" were accompanied by effective communication of changes to reduce risks of spillovers.
The Securities and Exchange Commission of Pakistan (SECP) has declared that an insurance company can not engage in self-insurance by insuring its own assets and issuing different policies covering its head office, branches, machinery breakdown, fire, motor and health, etc.
The Islamic State group claimed responsibility for a suicide attack in Afghanistan Saturday that killed 33 people and wounded more than 100 others, President Ashraf Ghani said, in what appears to be the first major attack by the jihadists in the country.


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln