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PM offers Isha prayers, Nawafil in Masjid-e-Nabwi -
MADINA MUNAWWARA, March 5 (APP): Prime Minister Muhammad Nawaz Sharif on Thursday offered Isha prayers and Nawafil in Masjid-e-Nabwi and prayed for peace, progress and prosperity of the country.


Top UN official calls for enforcing human rights amid rising tide of extremism -
UNITED NATIONS, March 5 (APP):  The world may be at a turning point as violent extremism and intolerance remain pervasive across the spectrum of global society, the United Nations High Commissioner for Human Rights said Thursday as he urged Member States to uphold the human rights principles underlying their communities in their fight against radicalism.


Libya crisis festering,UN envoy warns, urging decisive action to build national unity - UNITED NATIONS, Mar 5 (APP): The overall situation in Libya is “deteriorating rapidly”
amid a growing terrorist threat and continuing violence, the United Nations envoy to the Arab country has warned the Security Council, as he urged national stakeholders to move firmly in defining the country’s future.


PM performs Umrah; prays for sovereignty, peace in Pakistan -
MAKKAH, Mar 5 (APP): Prime Minister Muhammad Nawaz Sharif Thursday performed Umrah and prayed for sovereignty, prosperity and peace in Pakistan.


US acknowledges efficacy of Zarb e Azb operation -
WASHINGTON, March 4 (APP): The United States has vowed continued cooperative relationship with Pakistan, with a top military general acknowledging the effectiveness of the ongoing Zarb e Azb operation in clearing militant strongholds in North Waziristan.  


Sport News
Azeem Ghumman to lead Dollar East in Patrons Trophy
KARACHI, Mar 5 (APP): Dashing opening batsman and former Pakistan Under-23 captain, Muhammad Azeem Ghumman has been named to lead Dollar East squad in Patrons Cricket Trophy Grade-II Cricket Championship starting at various parts of country from March 9.
 
Azeem Ghumman to lead Dollar East in Patrons Trophy
KARACHI, Mar 5 (APP): Dashing opening batsman and former Pakistan Under-23 captain, Muhammad Azeem Ghumman has been named to lead Dollar East squad in Patrons Cricket Trophy Grade-II Cricket Championship starting at various parts of country from March 9.
 
Azeem Ghumman to lead Dollar East in Patrons Trophy
KARACHI, Mar 5 (APP): Dashing opening batsman and former Pakistan Under-23 captain, Muhammad Azeem Ghumman has been named to lead Dollar East squad in Patrons Cricket Trophy Grade-II Cricket Championship starting at various parts of country from March 9.
 
Pakistan beat Lebanon in Jr Fed Cup
ISLAMABAD, Mar 5 (APP): Pakistan beat Lebanon by 3-2 in the Junior Fed Cup (Girls Event) being played at Kuching, Malaysia. 
 
Pakistan win gold in SA Futsal Cup
ISLAMABAD, Mar 5 (APP): Pakistan Futsal soccer team bagged gold medal in the South Asian Soccer Futsal Cup held at Nepal from February 27 to March 2.
 
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Chairperson BISP takes serious notice of fraudulent messages - Foreign Secretary briefs P-5, EU envoys - Gerry’s visa application handling fee reduced to ś30 - Asif Kirmani felicitates newly elected PML-N Senators - SC directs law ministry to ensure regulatory framework on law books ... - CM congratulates newly elected PML-N senators
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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