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Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (February 26, 2015).

The federal government on Wednesday hinted at convening an all-party conference (APC) to replace the 'secret balloting' rule with a show of hands for Senate elections with a view to eliminating the menace of horse-trading. This was stated by senior leaders of ruling Pakistan Muslim League-Nawaz (PML-N) and Pakistan People's Party (PPP) after they reached a decision to do away with horse-trading in upcoming Senate elections scheduled for March 05.
Prime Minister Muhammad Nawaz Sharif Wednesday asked the members of the two committees, formed on 23rd February, to contact different political parties to ensure transparency in Senate elections and discourage horse-trading. In a meeting here at the PM House, the Prime Minister asked the members of these committees to enhance contacts with political parties so that procedures necessary for stopping horse-trading, including a Constitutional amendment, if required can be agreed upon before the upcoming Senate elections.
Declaring 2015 "the year of general election", Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan has claimed that his party will form government in Centre after success in polls. Imran, who is currently on a visit to Dubai, stated this while talking to media persons here on Wednesday. He held the US responsible for pushing al Qaida militants from Afghanistan into tribal areas of Pakistan which sabotaged peace and deteriorated the security situation there. The PTI chief expressed his hope that withdrawal of US troops from Afghanistan will restore peace in the region.
The Tax Reforms Commission (TRC) constituted by Finance Minister Ishaq Dar has recommended a flat rate of sales tax on petroleum products, a fixed rate of turnover tax on small retailers, rationalisation of extra tax regime, withdrawal of all tax amnesties/fixed tax and value-addition schemes and new incentives for registered persons. Sources told Business Recorder here on Wednesday that TRC has submitted its interim report containing proposals on sales tax and federal excise duty to the Federal Board of Revenue (FBR).
Country Director, the World Bank, Rachid Benmessaoud, met Federal Minister for Finance Senator Ishaq Dar here on Wednesday to discuss important matters regarding future development roadmap of the country. Benmessoud formally informed on behalf of the WB Management that Pakistan has again become eligible for availing the International Bank for Reconstruction and Development (IBRD) funding after a lapse of three years.
Pakistan and Iran have agreed on a two-year extension in completion of Iran-Pakistan (IP) gas pipeline project, it is learnt. Official sources told Business Recorder here on Wednesday that Iran agreed to an extension only Pakistan invoked force majeure on IP due to international sanctions against Iran to circumvent the penalty clause of the agreement. According to the penalty clause, if any country fails to complete the deadline it shall have to pay $2 million per day to the other 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 $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln