First half current account depicts $26 million surplus
The country's current account balance has become positive and registered a surplus of 26 million dollars in the first half of current fiscal year (2010-11) primarily driven by massive decline in trade and services deficit and high foreign inflows.
ADB loans UK firm for Pak power plant
The Asian Development Bank (ADB) said Tuesday it will lend up to $100 million to UK-based International Power to build a Pakistani gas-fired plant to help address the country's energy crisis. The 404-megawatt power plant in Balochistan is scheduled to be completed by September 2013.
New tax measures post-Finance Bill 2010
The federal government imposed additional taxes subsequent to the passage of Finance Bill 2010, and these include 3.5 percent withholding tax on agri-trading, penalties on late filers/non-filers of returns, exclusion of non-compliant taxpayers from "List of Active Taxpayers" and collection of data from clubs, and private schools, colleges and universities. more... (BR)
Mutual funds appreciate by 12 per cent
The size of the mutual funds industry appreciated 12 per cent in the last six months (July-December) to stand at Rs223 billion. The industry showed signs of recovery on the back of demand witnessed in the money market funds category as well as the equity market's tremendous performance over the last three to four months, says InvestCap in a research note. more... (ET)