$5.3b bailout package: Govt gives in to key IMF demand
In a bid to avoid potential financial default, Pakistan has conceded to a major demand of the International Monetary Fund (IMF) by agreeing to withdraw tax exemptions to the wealthy.
Sources revealed on Tuesday that the concession has paved the way for a new bailout programme worth around $5.3 billion. A formal announcement is expected within the next 24 hours, sources added.
‘GSP plus status could benefit agri, fishery’
Generalised System of Preferences (GSP) plus status can generate additional space for the country’s exports to EU, which is Pakistan’s single largest trade partner with bilateral trade exceeding 10 billion euros.
Investors, company officials meet before Lalpir IPO
The much-awaited public subscription of 37.9 million shares of Lalpir Power Limited (LPL) will begin on July 3 and remain open till July 4, 2013. Lalpir Power is an independent power producing company owned by the Nishat Group. more... (ET)
Rs.322 billion paid to IPPs: ECC told
The Economic Coordination Committee of the Cabinet (ECC) was informed on Tuesday that as per its June 27 decision, Rs 322 billion had been paid to Independent Power Producers (IPPs). more...(BR)
Iran gas pipeline project to be completed in national interest: Abbasi
Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi on Tuesday said the Iran gas pipeline project would be completed in the larger national interest. more...(BR)
ECC approves import of 300,000 tonnes urea
The Economic Coordination Committee (ECC) of the Cabinet in its meeting on Tuesday approved to import a total of 300,000 tonnes of urea for Kharif 2013.
GDP to go up by 1.5% if trade with India normalised
The gross domestic product (GDP) of Pakistan could be at least 1.5 percent higher than the expected growth by 2014-15 if trade with India is fully normalised, trade experts said here Tuesday.
Beverage Association to take up Capacity Tax issue with Dar
The Lahore chamber of Commerce and Industry (LCCI) has announced that it would strongly take up the ‘Capacity Tax’ issue of the Beverage Association on their serious concern with Federal Finance Minister Ishaq Dar.