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Friday, 28 August 2015

 

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Maleeha highlights Pakistan's investor-friendly policies as she rings N.Y. Stock Exchange's opening -
NEW YORK, Aug. 28 (APP): Pakistani Ambassador to the United Nations, Dr. Maleeha Lodhi, Friday rang the opening bell at the NASDAQ Stock Exchange in New York to signal the ceremonial start of trading, saying Pakistan's economy is on the upswing as it pursues liberal economic and investor-friendly policies.


Top tennis player Novak Djokovic appointed new UNICEF Goodwill Ambassador -
UNITED NATIONS, Aug 27 (APP): Novak Djokovic, the world's top ranked tennis player, was today appointed Goodwill Ambassador by the United Nations Children's Fund (UNICEF), after having served as the agency's Serbia Ambassador and promoting children's rights within his own private foundation.


PM leaves for home at end of two day visit to Kazakhstan -
leaving.jpgASTANA, Aug 26 (APP): Prime Minister Nawaz Sharif left here for home at the conclusion of a two-day official visit at the invitation of President Nursultan Nazarbayev.


Pakistan, Kazakhstan agree to build long-term economic cooperation -
ASTANA, Aug 26 (APP): The leadership of Pakistan and Kazakhstan on Wednesday expressed mutual resolve to further strengthen bilateral trade and investment, and build long-term economic cooperation between the two countries.


Water must not be used to achieve'military and political gains'in Syria: UNICEF -
UNITED NATIONS, Aug 26 (APP): Amid the unending brutality of the war in  Syria and a scorching heat wave, there is increasing evidence that parties to the conflict are using water to achieve military and political gains, warned the United Nations Children's Fund (UNICEF).


Sport News
Bodla breaks another World Record
ISLAMABAD, Aug 28 (APP): Pakistani Taekwondo black belt Ahmad Amin Bodla his own Guinness World Record by striking 852 kicks in three minutes.
     
 
Pak-India series matter of both countries cricket boards, Zaheer Abbas
LAHORE, Aug 24 (APP)- President, International cricket council, Zaheer Abbas Monday said that Pak-India cricket series was an internal matter of both the cricket boards and ICC could not play a role in this regard.
 
Farooq wins Badminton championship
ISLAMABAD, Aug 23 (APP): Farooq Ali clinched the National Disabled Badminton Championship played here at the Rodham Hall of Pakistan Sports Complex.
 
Emirates Board seeks dates for Pak-India series
ISLAMABAD, Aug 23 (APP): The Emirates Cricket Board has sought from the Pakistan Cricket Board (PCB) dates for the proposed Pakistan-India series likely to be held in December.
 
Int'l Murad enters into 4th NBP Badminton Championship semi-finals
PESHAWAR, Aug 23 (APP): Top seeded and international Murad Ali entered into semi-finals after defeating Khian Ahmad of Dera Ismail Khan in the first quarter-finals of the Men Singles event of the 4th NBP Badminton Championship being played here at Tariq Wadood Hall, Qayyum Sports Complex on Sunday.
 
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Latest News
Govt to take all possible steps for boosting exports: Dar - Rana Tanveer visits British engineering, manufacturing companies - Dastagir challenges PTI to compete with PML-N on performance basis - Aziz condemns killing of civilians in Indian firing on working bound... - Pak-China joint Working group to prepare work plan on Indus Cascade ... - COAS inquires after health of Indian shelling victims
Base year for national accounts to change every 10 years: Dar PDF Print E-mail
ISLAMABAD, Dec 11 (APP): Federal Minister for Finance, Economic Affairs Senator Mohammad Ishaq Dar Wednesday said government had decided to change the base year for national accounts after every ten years, and the next re-basing  would be held in the financial year 2015-16.Highlighting the change of base years from time to time, the Minister said that the base year for the national account was changed in financial year 1980-81, then in the year 1999-2000 and the last base year was changed in the year 2005-06.He stated this while addressing a press conference here after presiding over the meeting of the Board of Directors of Pakistan Bureau of Statistics (PBS).
Senator Dar said that previously the figures relating to economic performance were released or announced annually, but now it had been decided that these figures would be announced on quarterly basis and made public to know about the performance of the national economy.
He said that Quarterly National Accounts (QNA) for Pakistan has been prepared and presented for the first time.
He said that the QNA has been adopted on the same principles and definitions as the Annual National Accounts (ANA).
Senator Dar said that QNA will be consistent with ANA and pattern of finalization will be the same for both accounts.
The Minister said that Gross Domestic Product (GDP) for the 1st quarter (July-September) has shown growth by 5.1%.
Highlighting the fiscal position of current financial year upto November 30, 2013, the Minister said that FBR has collected a tax revenue of Rs 792 billion as against Rs 679 billion realized by FBP upto November 2012 (last year), showing a growth of 17%.
Senator Mohammad Ishaq Dar said that the government during the first quarter of the current financial year has released Rs 143 billion against the total allocation of Rs. 340 billion under Public Sector Development Programme (PSDP).
He said that budget deficit has been brought down to 2.2% equal to Rs 570 billion compared to  2.9% equal to Rs 690 billion last year.
Regarding the Foreign exchange reserves, the Minister said that reserves were falling on account of overall negative inflows.
The Minister said that Foreign exchange will improve from now onwards due to short term BOP support borrowing ($ 225 million / $ 100 million received).
He added that the second tranche of US $137 million from Islamic Development Banks (IDB) has been received.
The Minister said that IFC has announced trade financing facility of ($ 500 million) while Global rupee bond, Euro Bond $ 500 million would be launched and Financial Advisor (FA) in this regard would be appointed shortly.
Senator Ishaq Dar said that Remittance-based Bond would be launched while (FA appointment will follow Euro Bond launch.
He added that fast-track of capital-market-based disinvestment of government shares would be made while $ 1.6 billion World Bank and ADB policy loans, $ 850 million Coalition Support Fund (CSF) and $ 800 million outstanding from Etisalat would also be recovered.
Government, he said has expedited its efforts for the recovery of $800 million from Etisalat company.
He added that government has also expedited its efforts for $ 1.2 to $ 2 billion spectrum auction while overseas Pakistanis workers remittances have increased to US $ 6.4 billion showing a 7% growth.
Secretary Finance Dr Waqar Masood Khan, Advisor Finance Ministry Rana Asad Ameen, Governor State Bank of Pakistan Yasin Anwar, Secretary PBS Asif Bajwa and Chairman Federal Bureau of Revenue (FBR) Tariq Bajwa and senior officials of the ministry of finance and economic affairs were also present on the occasion.
 
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