IMF says Pakistan has met initial targets
The International Monetary Fund said on Thursday that data indicated Pakistan had met its end-December targets under its 23-month IMF funding programme, suggesting the government was making some headway in its balance of payments crisis more... (D)

SBP may cut policy rate in second half calendar year 2009
Economists believe that State Bank of Pakistan would cut policy rate in the second quarter of 2009, however, in the upcoming monetary policy SBP is likely to continue with a tight monetary stance with no change in the policy rate more... (BR)

Incorrect profit rates: SECP issues notices to four banks
The Competition Commission of Pakistan (CCP) has issued notices to four banks for advertising term/time deposit accounts giving what it says exaggerated and incorrect profit rates ranging between 16-18 percent. Official sources told Business Recorder on Thursday that some banks have offered return of 16-18 percent to general public more... (BR)

Obama asked to show more restraint in Pakistan
President Barack Obama should deepen US engagement in Afghanistan but show more restraint in Pakistan, ministers participating in special session on "Pakistan and its neighbours" said Thursday as the volatile region took centre stage in Davos more... (BR)

Fresh strategy to crush Swat militants:
Malik names terror outfits behind insurgency
Prime Minister’s Adviser on Interior Affairs Rehman Malik told the Senate on Thursday that a new strategy had been worked out to combat militancy in Swat more... (D)

Cement makers not to entertain orders from India
Cement manufacturers on Thursday unanimously decided to stop and not to accept cement export orders from India after the baseless allegations that RDX was being smuggled into India in the name of cement from Pakistan, industry sources said more... (BR)

Government releases Rs 3.6 billion to PSO for fresh oil import
Government has released Rs 3.6 billion to Pakistan State Oil (PSO) for fresh oil import to ensure unhindered fuel supply. Sources revealed that Finance Ministry had released Rs 6.35 billion to Pakistan Electric Power Company (PEPCO) on Wednesday to pay KAPCO and HUBCO dues more... (BR)

Oil refineries withhold Rs 40 billion PDL
Oil refineries have reportedly withheld Rs 40 billion Petroleum Development Levy (PDL) on POL products payable to the government. Sources told Business Recorder that Advisor to Prime Minister on Finance Shaukat Tarin held a meeting on Monday in the Finance Ministry on the issue of circular debt. The advisor expressed deep concern when informed that oil refineries had withheld Rs 40 billion PDL amount payable to the government more... (BR)