IMF concerned over political turmoil
The International Monetary Fund (IMF) is said to have expressed concern over the current political turmoil in Pakistan, fearing that the incumbent government would not be able to achieve the agreed economic targets if unrest continued, sources told Business Recorder more...

Government planning to reduce mark-up in March: BoI
The Chairman of the Board of Investment (BOI), Saleem H Mandviwala, has said that the government is planning to reduce mark-up rates in March 2009. Speaking at a seminar on 'Public-Private Partnership' (PPP), organised jointly by Karachi Chamber of Commerce and Industry (KCCI) and the government of Pakistan, he said that the future interest rates were likely to be reduced by 12 percent by June 2009 more... (BR)

NOCs for export to Afghanistan: commerce ministry and FBR probing misuse
The Federal Board of Revenue (FBR) and Ministry of Commerce are jointly investigating misuse of no-objection certificates (NOCs), clarifications, and authorisations used by certain exporters to clear export of banned/restricted items to Afghanistan more... (BR)

Time now to refocus on Pakistan, Afghanistan: Obama
A day after announcing a timeline to withdraw US troops from Iraq, President Barack Obama said on Saturday that now was the time to refocus on Afghanistan and Pakistan more... (D)

Soofi sets March 15 as deadline for Sharia law
Soofi Mohammed said on Sunday he wanted Islamic courts set up in two weeks. He said he was not happy there had been no tangible progress since February 16 when the government of North West Frontier Province agreed to accept Islamic law as the system of justice in Swat more... (BR)

PPP senator meets Nawaz
Pakistan People's Party (PPP) made first contact with Pakistan Muslim League-Nawaz top leader when PPP Senator Enver Baig met Nawaz Sharif at the latter's Raiwind residence on Sunday. Sources in PML-N told Business Recorder that Enver Baig during the meeting expressed reservations over the disqualification of the Sharif brothers and imposition of governor rule in Punjab more... (BR)

Banking system's NPLs surge by Rs 37.037 billion
Non Performing Loans (NPLs) of banking system have register a noticeable growth during the second quarter of current fiscal year, as these surged by Rs 37.037 billion to new peak of Rs 325 billion. Bankers said that consumer financing portfolio has a major contribution in the rising trend of NPLs, which is estimated around one-third of the total NPLs more... (BR)

SNGPL to add 250 mcf more gas by June
The gas shortage in the country during the next winter season would be reduced significantly, as 250 mcf per day additional gas would be added in the system from June this year more... (BR)

OGRA says domestic oil prices to remain unchanged
The Oil and Gas Regulatory Authority (OGRA) has finalised its monthly calculations of the rise and fall in international oil prices and suggested that domestic oil prices should not be changed for another month more... (D)