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FBR warns cotton ginners to pay taxes by March 30

Advertisements ISLAMABAD: Federal Board of Revenue has warned ginners to pay their taxes of Rs 1 billion by March 30 to save themselves from trouble in case of default in payment of tax up to prescribed time. Advertisements Officials of Pakistan Cotton Ginners Association (PCGA) has also said to the …

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State Bank of Pakistan cut discount rate to 8%

The State Bank of Pakistan (SBP) reduced its major discount rate to 8% on Saturday, citing a downward trajectory in inflation and an improving economy. The press release of SBP says: Increasing number of economic indicators in the current fiscal year has moved in a favourable direction. Headline CPI inflation …

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World Bank approves $187 million to assist Agriculture Sector in Sindh

WASHINGTON: The World bank has approved US$ 187 million for Sindh Irrigated Agriculture Productivity Enhancement Project (SIAPEP) to enhance irrigation water management at basic and field levels in Sindh. The fund will be used to support efficient management of scarce water resources and is designed to augment adaptation under different climate changes. …

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Banks achieved 57.8% target in ‘Agriculture Credit Disbursement’

ISLAMABAD: Banks have disbursed Rs. 288.7 billion as agriculture credit during first eight months of fiscal year 2015 (Jul to Feb) according to State Bank of Pakistan. Disbursed amount by now is the 57.8% of the budgeted annual target of Rs. 500 billion and 32.3% higher than disbursement of Rs …

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Karachi Stock Exchange Closed in Red

KARACHI: The Karachi Stock Exchange market continued its losing trend in the mid of the day. KSE suffered overall loss in all sectors includes KSE 100, KSE All Share, KSE 30, KMI 30, BATi and OGTi. KSE 100 closed at 31518.84 points from early day level of 32416.99 points by …

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NAB directs FBR to control ‘Tax Evasion’

ISLAMABAD: The National Accountability Bureau’s prevention Committee on Federal Board of Revenue (FBR) forwarded its recommendations and directs to plug the heavy leakages caused through corrupt practices that are resulting in tax evasion. On February 19, 2015, a Prevention Committee was formed under section 33C of National Accountability Ordinance (NAO), …

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SECP ideates new regulations for REIT

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) ideates new regulations for Real Estate Investment Trust (REIT) to remove hurdles for new willing entrants and to attract investment in real estate, reported by Media and Corporate Communications Department of SECP. The SECP held a discussion session in Karachi to …

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Punjab Industrial Expo 2015 to start in April

LAHORE: Three day Punjab Industrial Expo 2015 is going to start from April 03, 2015 in Lahore International Expo Centre, Johar Town, Lahore under the administration of Punjab Industrial Estates Development and Management Company (PIEDMC). Following the huge success of the show in 2014, this year PIEDMC has plan to …

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Pak-Azerbaijan Joint Business Forum inaugurated in Baku

BAKU: President of Pakistan Mamnoon Hussain and his counterpart President of Azerbaijan, Ilham Heydar Aliyev jointly inaugurated Pak-Azerbaijan Business Forum in Baku (capital of Azerbaijan). Both the countries have agreed to strengthen cooperation in diverse sectors. Speaking on the occasion, Mamnoon Hussain said the forum will help to promote economies …

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Pakistan’s economy is improving: IMF

ISLAMABAD: Pakistan’s economy is improving due to prudent monetary and fiscal policies, strong capital inflows, robust remittances and lower international oil policies according to Press Release No. 15/106 released by the International Monetary Fund (IMF) on March 11, 2015. After the conclusion of visit of Mr. Masood Ahmed, Director of …

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Govt appreciated progressive role of women in agriculture sector

ISLAMABAD: Minister of National Food Security and Research Skindar Bosan said that government recognizes the role of women in agriculture sector and they will be fully backed to achieve high productivity. Addressing to the two days and 3rd AAN Share Mela- Farmer’s Alumni Associations Network organized by Food and Agriculture …

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Foreign remittances rise 14.66% in the first eight months of FY15

ISLAMABAD: According to External Relations Department of the State Bank of Pakistan, overseas Pakistani workers remitted $11.75 billion in first eight months (July to February) of Fiscal Year 2015, showing an impressive growth of 14.6% compared with $10.25 billion received during the same period of FY14. During February 2015, the …

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Pak Economy starts to grow: Finance Minister

ISLAMABAD: Finance Minister Ishaq Dar has said that economy of the country has started to grow again and it is on right track due to far-reaching structural reforms, stabilization measures and initiatives of the past 21 months. Delivering a key-note address at the “Third Pakistan-US Business Opportunities Conference” in Islamabad …

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SECP launches fee payment facility by credit cards

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has taken another step to facilitate the stakeholders. SECP has introduced the facility of paying fee via Credit Cards in its eServices regime. This is another step towards plastic money environment. According to press release by the Media and Corporate Communications …

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