Trade deficit down 10pc from July to Feb
Pakistan’s economy has recorded a trade deficit (an excess of imports over exports) of $13.185 billion between July 2012 and Feb 2013, down 10 percent compared with $14.66 billion registered in the same period of last fiscal year, showed data by the Pakistan Bureau of Statistics (PBS) on Tuesday. more... (TN)
Security clearance procedure relaxed for foreign investors
The policy of obtaining a prior security clearance for the companies seeking incorporation with foreign investment in Pakistan or foreigners intending to invest in local companies has been relaxed by the Interior Ministry.According to the new policy, the SECP will issue certificate of registration to the foreign investors that will be subject to the clearance from the ministry.
Govt releases Rs 136.3 billion under PSDP
The Planning Commission of Pakistan (PC) has so far released Rs 136.3 billion under its Public Sector Development Programme (PSDP) against the total allocations of Rs 233 billion for the fiscal year 2012-13. more... (DT)
Non-bank financial sector proposes tax deferrals to boost savings
The Non-Bank Financial Sector Reform Committee, comprising leading market professionals, has advocated tax incentives in the form of tax deferral instead of exemptions for long-term savings. more... (TN)
Iran-Pakistan gas pipeline: In snub to US, China offers $500m loan
The United States has made clear its strong stand against the Iran-Pakistan gas pipeline – but the first world power will perhaps be further irritated to hear that China is backing it with a $500 million loan to Pakistan. more... (ET)
NA Secretariat’s proposed budget approved
The Finance Committee of the National Assembly on Tuesday approved the proposed budget of the National Assembly Secretariat for the fiscal year 2013-14 amounting to Rs 2,445,194,000. The committee was informed that there was no variation between the revised estimates and sanctioned budget for the fiscal year 2012-13.