NEC may approve 20 percent raise in government employees salaries: revenue collection target to be set at Rs 1.25 trillion
The National Economic Council (NEC) is going to approve 20 percent increase in the government employees' salaries, besides setting an ambitious revenue collection target of Rs 1.25 trillion for 2008-09, against revised figure of Rs 990 billion for the Federal Bureau of Revenue (FBR) in its meeting scheduled here for Monday more... (BR)

National Assembly budget session today
The fifth National Assembly session of PPP-led coalition government will start here from June 2 at the National Assembly. The budget for the next fiscal year would be presented on June 7. Under the rules, no other business can be transacted during the budget session. This will be the first budget of the coalition government, which has inherited economy in a bad shape more... (BR)

GDP is expected to drop below six percent for the first time in five years
All key macroeconomic indicators have presented a poor performance during the current fiscal year, mainly due to a combination of adverse domestic and international developments and low output of commodity producing sectors more... (BR)

Selective indemnity proposed in expanded PPP package
Pakistan people’s Party’s constitution amendment package contains insertion of Article 270AAA to give indemnity to certain actions of President Pervez Musharraf, including ordinances issued between July 12 and more... (D)

EC declares Sharif brothers qualified to contest polls
The Election Commission on Sunday declared PML-N leaders Nawaz Sharif and Shahbaz Sharif qualified to contest the by-elections more... (D)


Sheikh Rashid quits PML-Q, forms Awami Muslim League
Former federal minister Sheikh Rashid Ahmed has finally parted ways with the Pakistan Muslim League-Q and set up his own party after withdrawing his candidature for the by-election for National Assembly’s NA-55 seat more... (D)

CFS investment sees 29.6 percent decline
Investment under Continuous Funding System (CFS) witnessed a massive decline of 29.6 percent to Rs 31.3 billion last week as compared to Rs 48.6 billion a week earlier. more... (BR)

THE RUPEE: sharp recovery versus dollar
Thanks to the expectations of inflows from some friendly countries, the rupee was able to recover handsome gains in relation to dollar in both open and interbank markets during the week ended on May 31, 2008. In the interbank, the rupee rose by 170 paisa against dollar for buying to 66.30 and 160 paisa for selling at 66.50 more... (BR)


Pak-Oman Micro Bank to give loans
Dr Azhar has said that Islamic Development Bank Jeddah, Pak-Oman Micro Finance Bank and Smeda are working jointly for the marketing and to increase the exports of the products of Multan Cottage Industry to 57 Islamic countries more... (BR)