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Thursday, 24 April 2014

 

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Pakistan calls for strengthening UN General Assemly’s role in shaping Security Council -
UNITED NATIONS, April 24 (APP): Pakistan on Wednesday called for strengthening the role and authority of the General Assembly, the most representative UN organ, in shaping the Security Council, as talks continue on ways to reform the 15-member body.


Pakistan can produce cost-effective energy from geothermal resources: Expert -
WASHINGTON, April 24 (APP): The development of Geothermal energy resources available in all provinces of Pakistan can provide cost effective energy for the long-term and save billions of dollars spent on import of fossil fuels, a Pakistani energy expert said.


UN chiefs make impassioned plea to save besieged civilians in Syria -
UNITED NATIONS, April 23 (APP): The heads of five U.N. humaniarian agencies Wednesday made an urgent call on Syrian authorities and the opposition to allow aid access, end siege warfare and halt the indiscriminate bombing of civilians, saying ‘those with the responsibility, power and influence’ should work to re-energize a thus-far failed diplomatic push to end the brutal three-year conflict.


CNS Admiral Asif Sandila meets top PLAN officials -
QINGDAO, Apri 23 (APP): Chief of Naval Staff Admiral (CNS) Muhammad Asif Sandila held a detailed meeting with top officials of People’s Liberation Army (Navy) here Wednesday, official sources said.


Pak Navy frigate Shamsheer participates in multi-country maritime exercises -
BEIJING, Apr 23 (APP): Pakistan’s Navy frigate Shamsheer took part in multi-country maritime exercises held off the coast of the eastern Chinese city of Qingdao on Wednesday.


Sport News
Sharjeel stuns World Champion Asif in KC Challenge Snooker
KARACHI, Apr 23 (APP): Sharjeel Mehmood stunned former World Champion Muhammad Asif 4-1 to chalk out his third victory on the third day of 18th Karachi Club Open Challenge Snooker Tournament at KC’s Amir Bakhsh Billiards Hall on Wednesday.
 
A unique feat at KBA Bridge
KARACHI, Apr 23 (APP): A Dead Heat of three bridge players-Shakeel Chandna, Pak Day International Pairs Bridge winner, Shahab Khan and enthusiast Muhammad Rafique, all of them finished on top with a handsome score of 59.38 percent, Karachi Bridge Association (KBA) announced on Wednesday.
 
Three matches decided in Nishan-e-Haider hockey Tournament
LAHORE, Apr 23 (APP): Pakistan Railways, Wapda and National Bank of Pakistan marched ahead in the Ninth Nishan-e-Haider Hockey Tournament after winning their respective matches on Wednesday at the Mutiullah hockey stadium Bahawalpur.
 
Sherwani, Jan optimistic about hockey revival
KARACHI, Apr 23 (APP): Former Olympian Salim Sherwani and international Jan Muhammad are optimistic about the revival of Pakistan hockey despite a bleak scenario.
 
Zaheer Abbas named principal advisor to Chairman PCB
LAHORE, Apr 21 (APP): Pakistan Cricket Board has appointed, former test cricketer, Zaheer Abbas as the Principle Advisor to PCB Chairman and Moin Khan as Chief Selector and Manager of National Cricket Team.
 
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Education plays important role in nation building: - CM takes notice of raid at potatoes cold storage - President telephones Mrs Hamid Mir - 3G, 4G auction fetches Rs.111 bln to national exchequer - Pakistan, Mauritius to enhance cooperation in education sector - KP differs with NAB over release of corrupt through plea bargain: CM
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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