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Deadly shelling of another UN school in Gaza draws condemnation -
UNITED NATIONS, July 30 (APP): As another United Nations school serving as a shelter for Palestinians in Gaza was hit by shells on Wednesday, killing children, senior UN officials strongly condemned the attacks and warned against the targeting of civilians.


US hails PM’s focus on energy crisis and campaign against extremism: Fatemi -
By IFTIKHAR ALI
NEW YORK, July 30 (APP): Tariq Fatemi, a top Pakistani diplomat, has wrapped up his US visit during which he met with senior Obama administration officials, key legislators and think-tanks members, saying there is appreciation for the way Prime Minister Muhammad Nawaz Sharif is tackling the energy crisis and confronting the scourge of extremism and militancy.



“Gaza in critical condition,” while pushing for immediate ceasefire -
UNITED NATIONS, July 29 (APP): UN Secretary-General has once again joined the Security Council in calling on the parties to agree on an “immediate and unconditional” ceasefire, allowing for the delivery of urgently needed humanitarian assistance to the Gaza Strip.


Pakistani-Americans celebrate Eid ul Ftir -
WASHINGTON/NEW YORK, July 28 (APP): Pakistan-Americans joined their fellow American Muslims in celebrating Eid ul Fitr on Monday as they offered prayers at hundreds of mosques and Islamic centers and thanked Allah Almighty for blessing them with the opportunity to fast during the holy month of Ramadan.


UNSC calls for 'unconditional' ceasefire in Gaza -
UNITED NATIONS, July 28 (APP):  The U.N. Security Council on Monday, meeting in an emergency session just after midnight, called for an "immediate and unconditional" ceasefire, allowing for the delivery of urgently needed humanitarian assistance to the Gaza Strip.


Sport News
Warid national ranking tourney from Aug 2
ISLAMABAD, July 30 (APP): Pakistan Tennis Federation (PTF) will hold Warid National Ranking Tennis Tournament from August 2-7 here at PTF Complex.
 
FIH announce teams for Youth Olympic Games
ISLAMABAD, Jul 30 (APP): The International Hockey Federation (FIH) has announced the 20 teams that will be competing in the Hockey competition at the 2014 Youth Olympic Games in Nanjing next month.
 
Sarfraz urges players to focus on physical fitness
ISLAMABAD, July 29 (APP): Former Test Cricketer Sarfraz Nawaz has urged the national players to work on their physical fitness keeping in mind the tough weather conditions of Sri Lanka in August.
 
Sarfraz urges players to focus on physical fitness
ISLAMABAD, July 28 (APP): Former Test Cricketer Sarfraz Nawaz has urged the national players to work on their physical fitness keeping in mind the tough weather conditions of Sri Lanka in August.
 
62 member Pakistani contingent participates in CGames march past
ISLAMABAD, Jul 25 (APP): The 62-member Pakistani contingent, dressed up in traditional shalwar qamiz participated in the march past at the opening ceremony of the Glasgow 2014 Commonwealth Games on July, 23.
 
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PM returns home after performing Umrah - Eight persons drown at sea during Eid festivity - Small Software Technology Parks to be upgraded into ICT Parks - Biometric verification essential for new mobile SIMs - BoI approves Special Economic Zone at Port Qasim - MoIT setting-up holistic ‘ICT Parks’ to promote exports
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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