Pakistan to decide on IMF package by November
Pakistan would be required to take a decision to take a new International Monetary Fund (IMF) programme in June-July or October-November this year because the country would need to make a payment of SDR 1.685 billion to IMF by November 2013. more... (BR)
Hubco power plant in Narowal shut down
Hub Power Company's (Hubco) 225MW thermal power plant in Narowal has been shut down due to shortage of fuel. "Circular debt continues to affect the operations of its plants and the Narowal plant, which had been partially operating since the first week of January, has been completely shut since 26 March 2013 on account of fuel shortage.
Revenue body to use WHT data to broaden tax base
The Federal Board of Revenue (FBR) has gathered information regarding withholding tax deducted by banks and decided to use it for broadening the tax base. Sources in FBR said that Large Taxpayers Unit (LTU) Karachi had submitted the information regarding withholding tax deductions made by 30 banks between July 1, 2011 and June 30, 2012.
Uncertainty over elections badly impacts exports
The business community has urged the caretaker government to hold the next general elections on time, as uncertainty is continuously causing losses to exports. “The elections should be held on time and at any cost,” Gulzar Firoz, vice president of the Federation of Pakistan Chambers of Commerce (FPCCI), said.
CPI to clock in at 5% in April
Pakistan’s Consumer Price Index (CPI) inflation for the month of April 2013 is expected to clock in at 4.50 percent to 5.0 percent, marking a new low since July 2007, mainly due to decline in prices of the food items group, analysts said on Tuesday.
NBP surpasses agri credit disbursement target
National Bank of Pakistan (NBP) has surpassed with wide margin the agriculture credit disbursement target fixed for first nine months of the fiscal July-March period of ongoing fiscal year 2012-13. Against the target of Rs 35.625 billion actual disbursement amounted to Rs 42.384 billion projecting disbursement at 119 percent of the target. .