Bilateral trade up by 70% in 5-year, Pakistan’s exports grow over 100%
Bilateral relations between Pakistan and China are rapidly growing to new heights, said Deputy Chief of Mission of the Chinese Embassy Yao Wen on Thursday.
Banking spreads hit record 8-year low level in February
Banking spreads, based on outstanding lending and deposit rates hit 6.18 percent in February 2013, which is the lowest-ever level in last eight years. It witnessed a massive decline of 112 basis points as compared to February 2012 level of 7.30 percent, according to the data recently released by the State Bank of Pakistan (SBP).
VPS, other retirement schemes: FBR partially accepts SECP tax proposals
The Federal Board of Revenue has partially accepted tax proposals of the Securities and Exchange Commission of Pakistan (SECP) to promote Voluntary Pension System (VPS) and other retirement schemes in the country. more... (BR)
Government set to clear Rs 11 billion of KESC dues to PSO
The government has decided to clear outstanding dues amounting to Rs 11 billion of Pakistan State Oil (PSO) against Karachi Electricity Supply Company (KESC) on account of furnace oil supply from 2009-13. This was decided here at a meeting on Thursday, which was attended by senior officials of the Finance Ministry, Ministry of Water and Power and Ministry of Petroleum. more... (BR)
SBA instalment: IMF paid $143.75 million
Pakistan on Thursday successfully paid 11th installment worth $143.75 million of Stand-By Arrangement (SBA) to the International Monetary Fund (IMF). Despite the fact that the country is facing a serious challenge of depleting foreign exchange reserve, the IMF payment has been made on time. Like previous practice, the 11th repayment has also been made from the reserves held by the State Bank of Pakistan (SBP), sources said. more... (BR)
Forex reserves dip by $66.1 million
The country's foreign exchange reserves continued to decline following rising debt payment, as these fell by $66.1 million during the week ended on March 22, 2013. According to the State Bank of Pakistan (SBP) the country's total reserves decreased to $12.37 billion as on March 22, 2013 from $12.43 billion as on March 15, 2012. more... (BR)