Japan pledges up to $1 billion aid: stability in Pakistan critically important
Japans prime minister announced Thursday that Tokyo will provide up to $1 billion in aid to Pakistan to support the countrys economic reforms and fight against terrorism. Prime Minister Taro Aso said the pledge will be made on Friday, when Japan hosts a one-day Japan pledges international donors conference. Aso made the announcement after meeting with Pakistani President Asif Ali Zardari more... (BR)

LSM sees decline of six percent in eight months
Large Scale Manufacturing (LSM) growth has decelerated and registered a decline of 6 percent during the first eight months of the current fiscal year, mainly due to the energy shortages, high cost, lower domestic and external demands. The performance of the manufacturing sector was impressive during the last five years, as it posted an average growth of over 10 percent per annum since 2003 more... (BR)

IMF wants Pakistan to focus on tax reforms, lower inflation
Pakistan must focus on reforming its tax system and lowering inflation to restore its economy, but political instability is a key risk to growth, the International Monetary Fund (IMF) said on Thursday ahead of a donors conference. Allies of cash-strapped Pakistan meet in Tokyo on Friday to pledge aid and seek assurances from the nuclear-armed country that it will implement economic reforms and take more urgent action against an increasingly militancy more... (BR)

PML-N decides not to rejoin government
Pakistan Muslim League-Nawaz (PML-N) on Thursday decided not to join government in centre, as invited by the Prime Minister Yousuf Raza Gilani, assuring the government of its support while remaining on opposition benches. The decision was taken in the meeting of Central Working Committee (CWC) of the party, which held here with PML-N chief Mian Nawaz Sharif in the chair more... (BR)

ROZs in tribal areas, Balochistan: Pak-US talks to revive Tifa soon
Pakistan and the United States of America (USA) are to hold negotiations to revive the apparently "dead" Trade and Investment Framework Agreement (Tifa) in the last week of current month, top of the agenda will be Reconstruction Opportunity Zones (ROZs) in the battered Tribal Areas, Azad Jammu and Kashmir (AJK) and some parts of Balochistan, bordering Afghanistan more... (BR)

Zardari urges a ‘Marshall Plan' for Pakistan
‘Pakistan alone cannot bear the huge social and economic burden of terror war, clearly we need massive assistance.’ more... (D)

IFC to make $50 million equity investment in Packages Limited
International Finance Corporation (IFC) has decided to make a 50 million-dollar equity investment in Packages Limited, Pakistans largest paper and board producer, to support a socially responsible company that directly provides jobs to nearly 3,500 people and indirectly employs about 27,000 more... (BR)

Forgery on losses: ECC accuses oil refineries of misusing deemed duty
The Economic Co-ordination Committee (ECC) of the Cabinet has accused oil refineries of involvement in forgery on losses and misusing deemed duty being collected from the consumers, official sources told Business Recorder on Thursday more... (BR)

Government pocketed Rs 58.533 billion PDL during July-February 2009
The government has pocketed Rs 58.533 billion petroleum development levy (PDL) from consumers during the first eight months (July-February) of the current fiscal year. Sources told Business Recorder that it is the actual collection of PDL in addition to Rs 12 billion PDL during the period under review, which the government is still to recover from Pak Arab Refinery (Parco) more... (BR)