The decision was announced after a meeting of the ECC of the cabinet presided over by Finance Minister Shaukat Tarin.
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TOP STORIES
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Plan ready to reshape public sector entities
New boards are needed for corporate structuring of Pakistan Railways, Pepco, PIA, PSM, NHA, USC, TCP and Passco. -
Investors want regulators to disclose material information
The stock market is now in a state of limbo, with investors not knowing whether to take an entry or an exit. -
Tax-to-GDP ratio projected at 12.1 per cent
The Budget Strategy Paper once approved will set the benchmark to fix priorities in budget making for the next three years. -
Plan to realise true potential of energy firms
Efficiency and cash flows of energy companies need to be improved to attract foreign investment in such entities. -
Car dealers charging premium on spot buying
The assemblers deliberately or due to some other reasons are not increasing their production to meet the demand.
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FRAGILE RECOVERY
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MEDIA GALLERY
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HIGHLIGHTS
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CSF identifies causes of decline in fisheries
Over-fishing and poor quality controls threaten the growth of the local fishing industry. -
Political will needed to tax informal sector
Trade bodies continue to resist documentation of the economy to evade taxes. -
On the decline?
The state of America’s finances is raising questions about the future of the country’s great power status. -
PIDE warns of challenges to growth revival
Stubborn inflation, slow industrial activity and security issues threaten growth. -
Public debt balloons to Rs7.6tr
Reversal of the decline in debt during 2007-08 and 2008-09 is alarming.
WEATHER - PAKISTAN
Cities
RESTRICTIONS NEEDED
Most goods imported through Afghan Transit Trade find their way into the domestic market and harm local industry.
WB COOPERATION
The bank said Pakistan was in a more robust position after taking some tough decisions, such as ending subsidies.
RISING RESERVES
However, Finance Minister Shaukat Tarin said that a final decision will be taken closer to the end of the year.
NEGATIVE RETURNS
The average banking spread for 2009 stood at 7.48pc as banks made large gains at the cost of depositors.
TRANSPORT COSTS
Consumers are set to pay up to Rs2 per kg more on various commodities as a result of the increase in petroleum prices.
STAGFLATION PERSISTS
The central bank kept the primary interest rates unchanged at 12.5 per cent to stabilise the double-digit inflation.
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