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UN chief strongly deplores latest deadly attack in Ukraine -
UNITED NATIONS, Jan 25 (APP):  United Nations Secretary-General Ban Ki-moon has strongly condemned Saturday’s rocket attack in the eastern Ukrainian city of Mariupol which reportedly killed dozens of civilians and left another one hundred injured.


Obama likely to raise question of resuming India-Pakistan dialogue with Modi: Report -
NEW YORK, Jan 24 (APP): US President Barack Obama is likely to raise with Indian Prime Minister Narendra Modi the issue of how the two nuclear-armed neighbours can resume dialogue and reduce their hostilities when the two leaders hold talks during the American leader’s shortened trip to India, The Wall Street Journal reported Saturday.


Peshawar school massacre reflects Muslim suffering at hands of terrorists -
WASHINGTON, Jan 24 (APP): The United States has welcomed the additional Pakistani steps to wipe out militants operating on its soil and citing December 16, 2014 atrocious attack on Peshawar’s Army Public School underscored that more Muslims have been victims of terror than anybody else.


US backs Pakistan commitment to act curb violent extremism -
WASHINGTON, Jan 23 (APP): The United States has said it backs Pakistan’s commitment to take steps against militant groups operating on its soil without any discrimination. 


UN pays tribute to late Saudi King's role in advancing development, humanitarian causes -
UNITED NATIONS, Jan 23 (APP):  Secretary-General Ban Ki-moon has "learnt with sadness" of the death of King Abdullah Bin Abdulaziz Al-Saud, the late King of Saudi Arabia and Custodian of the Two Holy Mosques, who passed away on Friday at the age of 90.


Sport News
UAE being considered as venue for Pacquiao- Amir Khan title fight
ISLAMABAD, Jan 25 (APP): UAE is being considered as a venue for a title fight between Manny Pacquiao and British boxer of Pakistan origin Amir Khan, if the proposed May 2 showdown between Floyd Mayweather and the Filipino ring legend doesn’t happen.
 
PIA jumps to top of points table in First COAS Challenge Hockey Cup
RAWALPINDI, Jan 25 (APP): Pakistan International Airlines (PIA) moved to the top of the points table in pool A after a 4-2 thrashing of Police in a match of the First Chief of the Army Staff Challenge Hockey Cup (COAS) here at the Army Hockey Stadium on Sunday.
 
Ajmal optimistic of getting cleared after retest
ISLAMABAD, Jan 25 (APP): Off-spinner Saeed Ajmal, who underwent official ICC retesting on his remodeled bowling action in Chennai on Saturday, believes that his “doosra” is within the legal limit now and is hopeful of being cleared to bowl again in international cricket.
 
Rookie Seifert, Nicholls tons stun Pakistan
KARACHI, Jan. 25 (APP): The batsmen duo of Tim Seifert and Henry Nicholls banged contrasting centuries as New Zealand Board President’s XI inflicted a six wickets defeat on touring Pakistan team in a practice game at Bert Sutcliffe Oval, Lincoln, near Christchurch on Sunday despite captain Misbah-ul-Haq’s century.
 
ICC to take up to illegal bowling actions on Jan 28
ISLAMABAD, Jan 25 (APP): Issues relating to illegal bowling actions, anti-corruption and anti-doping matters will be discussed at the ICC Board Meeting to be held at its headquarters in Dubai on January 28-29.
 
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Latest News
Report on power situation presented to PM - Work underway to restore power supply countrywide: Secretary - SSGCs Usman Tariq suspended for one match - Bahria university holds 11th Convocation - Afghan Border Police delegation arrives on 5-day visit - Shahbaz okays converting govt school to solar energy
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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