News Pulse (August 30, 2013) July-August 29: FBR provisionally collects Rs 239.436 billion (BR) With record growth of 93.2 percent in sales tax collection (domestic), the Federal Board of Revenue (FBR) has provisionally collected net Rs 239.436 billion during July-August 29, 2013 against Rs 176.884 billion in the corresponding period of last fiscal, reflecting an increase of 35.4 percent. According to the provisional data compiled here on Thursday, the monthly collection in August 2013 showed a remarkable growth of 66 percent when compared with the same period of last fiscal. So far, the provisional revenue collection in August 2013 stood at Rs 116.223 billion against Rs 70.007 billion during the corresponding period of previous fiscal, showing a handsome growth of 66 percent. MoU signed on 6,600 megawatts coal-based projects at Gadani (BR) The federal government has signed a Memorandum of Understanding (MoU) with Punjab government, China National Power and Q Investment, Qatar for more than 6,600 megawatt coal-based projects worth $5 billion. Punjab Chief Minister Muhammad Shahbaz Sharif, Federal Minister for Water and Power Khawaja Muhammad Asif, Provincial ministers, various federal and provincial secretaries as well as senior officers were present. Federal Secretary Water & Power Saifullah Chatha, Secretary Energy Punjab Usman Bajwa, Chief Executive Officer of Q Investment Qatar Tamim Hamad Al Kuwari and President Middle East of China National Power Company Wu Wenhao signed the document. PSO turnover at all-time high (Dawn) The Pakistan State Oil (PSO) reported profit after tax (PAT) at Rs12.6 billion for the year ended June 30, 2013, translating into earning per share (eps) at Rs50.84, up by 39 per cent over the earlier year’s PAT at Rs9.10bn and eps at Rs36.67. Strong fiscal measures must for IMF assistance: Dar (TN) The Federal Finance minister Ishaq Dar told the country’s top bankers that strong fiscal measures are necessary for Pakistan in order to get financial assistance from the International Monetary Fund (IMF), said the sources in the banking sector. The finance minister did this while taking the bankers into confidence about the policies that Pakistan needs to implement to achieve the IMF specified goals. “We have taken prior actions set by the IMF for the new lending program,” Dar said. Bike assemblers body calls for new auto sector policy (TN) Pakistan’s new government should take on board all stakeholders and market players while formulating new policies related to the auto sector, the Association of Pakistan Motorcycle Assemblers (APMA) said. This was particularly important if the government seriously want to generate revenues, APMA spokesman Muhammad Sabir Shaikh told the News. APMA comprises of companies who are specifically involved in the assembly of Chinese made motor bikes. Pakistan defends quality of its cement exported to SA (Nation) Cement imports from Pakistan to South Africa will continue and are expected to increase, says Qamar Zaman, commercial secretary at the High Commission of Pakistan in South Africa. Last year issues were raised about the quality of Pakistani cement but Zaman said on Thursday that lower prices gave his country’s product a competitive edge. South Africa consumes about 12-million tonnes of cement a year, with imports sitting at 5pc, according to Stanlib analyst Anashrin Pillay. For further details contact: Hassan Amin [email protected] +9221-111-226-100 – Ext 702 701-702 7th Floor, Business & Finance Centre, I.I. Chundrigar Road, Karachi, Pakistan Regards, Research Department Summit Capital (Pvt.) Limited Phone: +9221-111-226-100 Direct: 92-21-32467964 Fax: 92-21-32467959 Email: [email protected]
Posted on: Fri, 30 Aug 2013 04:50:26 +0000
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