Seeking withdrawal of subsidies: World Bank and IMF set December 31 deadline
The World Bank and the International Monetary Fund (IMF) have set December 31, 2008 deadline for Pakistan to withdraw subsidies on oil gas and electricity. Sources said the World Bank and the IMF missions, which visited Pakistan last month for getting briefing from the officials on Budget 2008-09, had conveyed the officials their demand in black and white more... (BR)

$5.90 billion remittances received in 11 months
Remittances by overseas Pakistanis rose to $5.903 billion in 11 July-May period of the current fiscal year 2007-08, showing an increase of $915.73 million, or 18.36 percent, over the same period of last fiscal year more... (BR)

Rs 267.76 billion Sindh budget shows Rs 14 billion deficit
Sindh budget worth Rs 267.764 billion for the fiscal year 2008-09, showing a deficit of Rs 14.019 billion, was presented by Chief Minister Qaim Ali Shah in the Sindh Assembly on Monday. The total outlay is around Rs 33.274 billion higher than the current fiscal year's revised budget estimates of Rs 234.49 billion more... (BR)

Bush upholds Afghan threat
LONDON, June 16: President Bush has virtually backed President Karazai's threat to send troops into Pakistan in hot pursuit of Taliban as in answer to a question on the issue at more... (D)

PPP to control presidency: Asif
Pakistan People’s Party (PPP) co-chairman Asif Ali Zardari mocked the lawyers’ long march on Monday and declared his party would soon control the presidency more... (D)

Struggle is for rule of law, Iftikhar tells US audience
Deposed Chief Justice Iftikhar Mohammad Chaudhry told his first tele-conference in the United States on Monday that he was struggling to restore the supremacy of the Constitution and the rule of law in Pakistan more... (D)

Duty-free import of all agriculture machinery allowed
The Federal Board of Revenue (FBR) has allowed the agriculture sector to import machinery, equipment, horticulture/floriculture machinery, irrigation/draining equipment, harvesting/threshing machinery and greenhouse farming equipment, etc, whether locally manufactured or not, without payment of customs duty and sales tax more... (BR)

NCEL appoints BMA Capital its financial advisor
The National Commodity Exchange Limited (NCEL), the first technology driven, demutualised, on-line futures exchange in Pakistan, has appointed BMA Capital Management Limited as its financial advisor for the private placement of its shares more... (BR)

Power generation to be raised to 22,297 megawatts
The Director-General, Energy Management Cell of Wapda, Tahir Bashir Cheema, has said that to meet the energy shortfall, the government has planned to increase power generation capacity to 22,297 mw in 2008-09 from 20,097 mw in 2007-08, with net addition of 2,200 mw more... (BR)