Economic and Business Updates From March 22 to 28, 2010
Tuesday, March 30, 2010
- THE OPEC Fund for International Development will extend a loan of over $31 million for the Neelam-Jhelum Hydropower Plant Project. An agreement to this effect has been signed.
- THE North West Frontier Province value-added tax bill is tabled in the provincial assembly.
- THE International Monetary Fund is likely to extend March 31, deadline set for the resolution of the issue of circular debt, sources say.
- THE Federal Board of Revenue will suffer a massive shortfall of around Rs10 billion due to low collection of four per cent of capital value tax levied on immovable property in 2009-10 budget.
- THE World Bank extends Tax Administration Reform Project up to December 31, 2010 in view of satisfactory performance of the Federal Board of Revenue in smooth implementation of reforms.
- THE Competition Commission of Pakistan stops all ongoing investigations against cartels and companies involved in anti-competition activities, deceptive marketing practices and abuse of dominance etc., as the Competition Ordinance has expired.
- AGRICULTURAL credit disbursement by commercial and specialised banks increases by 11.02 per cent to Rs144.703 billion in eight months (July-February) of the 2009-10 fiscal year. In absolute terms, the disbursement increased by Rs14.361 billion.
- THE State Bank of Pakistan announces 2.5 per cent markup rate facility on outstanding loans of textile industry under its Export Finance Scheme, and three per cent markup rate support against long-term loans availed from banks/DFIs.
- THE Cabinet Committee on Energy Crisis directs the finance ministry to arrange Rs43 billion for Pakistan Electric Power Company to make payments to Pakistan State Oil till April 2, 2010.
- THE Trading Corporation of Pakistan, accepting the second lowest bid of $396.10 per ton offered by a Dubaibased supplier, finalises deal for import of 200,000 tons of white refined sugar.
- THE Gulf Cooperation Council decides to relax trade safeguards measures in iron goods import from Pakistan applied in the import of angles, channels and beams iron products used in construction.
- THE Compensation Commission of Pakistan imposes a penalty of Rs25 million on Pakistan Steel Mills for abuse of its dominant position and anti-competitive practices, reflecting violations of relevant provisions of the Competitive Ordinance 2009.
- THE Federal Board of Revenue recovers a sum of Rs34,229,556 from four payphone companies allegedly involved in obtaining inadmissible refund of excise duty.
- THE country’s service trade deficit during eight months of the current fiscal year amounts to $1.69 billion.
Labels: Economy and Business, Pakistan Economy
posted @ 9:46 AM,
0 Comments:
Post a Comment