IMF to meet politicians on RGST
International Monetary Fund (IMF) has decided to convince political leadership over Reformed General Sales Tax (RGST), media reported. According to the sources in finance ministry, a team of IMF is scheduled to visit Pakistan in the last week of January and will talk to political parties regarding RGST.
Foreign inflows fall by half WoW
Though global market remained depressed but offshore investors once again emerged as the net-buyer in Pakistan equity market with $14.7 million worth of buying in the last week as per the National Clearing Company of Pakistan Limited (NCCPL) data. However, foreign portfolio investment was reduced 49.6 per cent WoW compared with $29.2 million witnessed in week ended on 14th January 2011.
Fiscal deficit: Government expenditure is not the problem
The efforts by the federal and provincial governments to reduce their expenditures, while admirable, will do no appreciable damage to the size of the fiscal deficit. Despite the high prevalence of corruption and inefficiency, the government does not actually spend too much money. Its fiscal deficit stems from not collecting enough taxes from its citizens. more... (ET)
POL prices: Ogra expecting 12 percent increase in February
Oil and Gas Regulatory Authority (Ogra) is expecting 12 percent increase in prices of petroleum products during month of February 2011 due to hike in global oil prices. more... (BR)