Forex reserves fall to $10.390bn
Pakistan’s foreign exchange reserves fell to $10.390 billion in the week ending August 23, from $10.399 billion the previous week. more... (DT)
Int’l consortium offers $1.5 billion to SECMC
An international consortium has offered $1.5 billion to Sindh Engro Coal Mining Company (SECMC) for its Thar Coal Mining and Power Project and terms of this financing are being discussed to finalise the deal.
Strong fiscal measures must for IMF assistance: Dar
The Federal Finance minister Ishaq Dar told the country’s top bankers that strong fiscal measures are necessary for Pakistan in order to get financial assistance from the International Monetary Fund (IMF), said the sources in the banking sector. more... (N)
July-August 29: FBR provisionally collects Rs 239.436 billion
With record growth of 93.2 percent in sales tax collection (domestic), the Federal Board of Revenue (FBR) has provisionally collected net Rs 239.436 billion during July-August 29, 2013 against Rs 176.884 billion in the corresponding period of last fiscal, reflecting an increase of 35.4 percent. more...(BR)
Clash of clans: Cement makers face split in their ranks
A strong lobbying group of cement manufacturers in Pakistan is facing one of its toughest challenges. The differences have grown to such a point where Lucky Cement, the largest cement manufacturer in the country with 18% market share, has decided to leave the body – the All Pakistan Cement Manufacturers Association (APCMA) – as it disagreed with some of the policies of the association.
LDI traffic on the rise
The Long Distance International (LDI) telecommunication traffic in minutes increased to 610 minutes for August 2013, up 21 percent as compared to 505 minutes in July, revealed an official data. more...(N)
Self-clearance system: Country suffers yearly loss of Rs 3 to Rs 5 billion
The country is suffering a revenue loss of Rs 3-5 billion approximately per annum; it is learnt here on Thursday. The reason being that the self-clearance system for commercial sector promotes underinvoicing and misdeclaration culture. more...(BR)