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Thursday, 02 October 2014

 

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Pakistan to host International Cotton Advisory Committee in 2016 -
WASHINGTON, Oct 1 (APP): Pakistan will host the 75th Plenary Meeting of the International Cotton Advisory Committee in 2016, the Pakistani embassy said here after the ICAC Standing Committee accepted the country's offer in this regard.


Increased pension coverage key to future global development agenda, says UN agency -
UNITED NATIONS, Oct 1 (APP): In order to promote economic recovery and prevent pensionable citizens from relapsing into poverty, social protections must be placed at the forefront of the future development agenda currently being framed by member states, the United Nations labour agency says.


Obama hails BSA with Kabul as framework for targeting al-Qaeda, training Afghan forces -
WASHINGTON, Sept 30 (APP): US President Barack Obama on Tuesday hailed the formal conclusion of Bilateral Security Agreement with Afghanistan, saying it provided American forces the legal framework to target al-Qaeda remnants beyond 2014 and training the Afghan National Security Forces.


Kashmiris protest outside White House as Modi begins Washington visit -
WASHINGTON, Sept 30 (APP): Hundreds of Kashmiri-Americans protested  India's blatant violation of human rights in the Indian Occupied Kashmir, holding a vociferous demonstration outside the White House when President Barack Obama hosted Indian Prime Minister Narendra Modi for a private dinner Monday evening.



Pakistan seeks improved ties with Afghanistan under new leader -
NEW YORK, Sept 30 (APP):  Pakistan hopes to work with Afghanistan's new president, Ashraf Ghani to reverse a recent deterioration in its relations with Kabul, Sartaj Aziz, the adviser to Prime Minister on national security and foreign affairs has said.


Sport News
Trials to select final lineup for Sultan of Johor Tournament on Saturday
ISLAMABAD, Oct 1 (APP): The trials to select final lineup for Fourth  Edition of Sultan of Johor Junior Hockey Tournament will be held at Naseer Bunda Hockey Stadium Islamabad on Saturday.
 
Pakistan face formidable Iran in Asian Games Kabaddi semis on Thursday
INCHEON, South Korea, Oct 1 (APP): Pakistan Kabaddi team will face formidable Iranian team in the semifinal of XVII Asian Games at Songdo Global University Gymnasium on Thursday.
 
Pakistan Rugby suffers third major defeat in Asian Games
INCHEON, South Korea, Oct 1 (APP): Pakistan Rugby team Wednesday suffered third defeat against Malaysia in classification match of XVII Asian Games for 9-12th place at Namdong Asiad Rugby Field.
 
Naseer leads Pakistan to 11th spot in Asian Games Volleyball
INCHEON, South Korea, Oct 1(APP): Spectacular Naseer Ahmed scored 20 points to spearhead Pakistan to 11th position when they defeated Saudi Arabia 3-0 in Asian Games Volleyball classification match of the 17th Asian Games at Ansan Sangroksu Gymnasium on Wednesday.
 
Waseem eager to make Asian Games boxing final
INCHEHON, South Korea, Oct 1 (APP): Pakistan's top pugilist Muhammad Waseem is fully geared-up to reach the final of his flyweight division bout of XVII Asian Games Boxing Tournament on Thursday.
 
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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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