New government in no hurry to seek IMF deal
The new government does not need to seek immediate International Monetary Fund (IMF) programme as it would be able to comfortably manage balance of payment position for the next two to three months. more... (BR)
Peaceful transition: Capital market sees phenomenal growth: SECP chief
Chairman Securities and Exchange Commission of Pakistan (SECP) Tahir Mahmood on Thursday said the peaceful transition of democratic government through elections has built confidence in the political system of the country, as evident from phenomenal growth in stock market. more... (BR)
Pakistan to repay IMF $541.47m by end-June
Pakistan will repay approximately $541.47 million worth of debt to the International Monetary Fund (IMF) by June 30, say analysts. The payments have to be completed under the international lending agency’s standby and extended credit facility arrangements with the government.
FPCCI rejects plan to tax foreign remittances
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has opposed the plan of the revenue authorities to impose tax on inflows of foreign remittances. In a statement issued on Thursday, Zubair Ahmed Malik, president of the FPCCI, opposed the Federal Board of Revenue (FBR) plan to bring foreign remittances in the tax net.
China takes over operational control of Gwadar Port
China has successfully taken over the operational control of Gwadar Port on Thursday. With its financial and technical assistance China built this port on Pakistan’s southwest coast. The contract of operation of Gwadar Port has been given to China Overseas Ports Holding Company Limited.
Budget for 2013-14 likely on June 14
The incoming PML-N government is expected to present the first budget for 2013-14 by June 14. A senior official told Dawn that the finance ministry had proposed June 7 for presentation of the budget so that it could be approved by parliament before June 30 after a debate.
‘China can help Pakistan in economic crisis’
Former Ambassador Shahid Amin has said China could help Pakistan in coping with the economic crisis. Everyone in Pakistan agreed upon friendship with China and the relations of China with Pakistan are of political and geographical importance besides their economic significance. more...(DT)