No change in oil prices until budget
The government has decided not to change oil prices until the next budget to meet the revenue target set in consultation with the International Monetary Fund (IMF). Sources told Business Recorder that this is the policy decision because the government wants to meet the revenue target through Petroleum Development Levy (PDL) collected by taxing petroleum products more... (BR)

IMF changes revenue target to 10.2 percent of GDP growth
The International Monetary Fund (IMF) has removed the current revenue target slab of Rs 1.327 trillion after negotiations with the team of taxmen in Dubai, and linked it with 10.2 percent of annual GDP growth, Business Recorder learnt on Saturday more... (BR)

World Bank to release $961 million by June 30
During April-June this year the World Bank is releasing $439 for various project loans and $522 program loans more... (D)

EU presidency plans first summit with Pakistan
The European Union plans to hold the bloc's first ever summit with Pakistan in June to "help strengthen the civilian government" there, an EU presidency source said Saturday. The decision to hold the summit is also "a testament to the political importance the EU attaches to its relationship with the country," the Czech EU presidency source said more... (BR)

Pakistani state is not going to collapse: Zardari
President Asif Ali Zardari, in an interview aired Sunday, strongly rejected the notion that his country might collapse and called for international efforts to fight Islamic extremism more... (BR)

200 miscreants killed in operation: ISPR
Security forces have killed 180 to 200 miscreants in last 24 hours in various areas of Swat and Shangla during the ongoing military operation, said Inter Services Public Relations (ISPR) here on Sunday. It said suspected locations of miscreants were targeted in Kanju, Mingora, Venaibaba, Namal, Qambar, Peochar (Miscreants Headquarters), Fizagath, Tiligram, Chamtalai. Reportedly 50-60 miscreants were killed since Sunday morning more... (BR)

Pepco to release Rs 12 billion to IPPs to clear circular debt
Pakistan Electric Power Company (Pepco) will release Rs 12 billion in a couple of days to independent power producers (IPPs) to clear the circular debt. Pepco Managing Director Tahir Basharat Cheema, addressing a press conference here on Saturday, that out of Rs 180 billion circular debt, Rs 80 billion had been retired in March and the remaining would be cleared by the end June more... (BR)

Egypt's Orascom Telecom buys $140 million of Mobilink's debt
Egypt's Orascom Telecom said on Sunday its Pakistan unit had repurchased up to $140 million in senior notes at a 27 percent discount to face value. The unit, Pakistan Mobile Communications Limited (Mobilink), will spend around $100.6 million to buy back almost $138 million of senior notes due in 2013, OT said in a statement more... (BR)

Steel industry rejects 15 percent regulatory duty on flat rolled products
Pakistan Steel-line Pipe Industry Association (PSPA) has rejected the proposed imposition of regulatory duty at the rate of 15 percent on all flat rolled products which are used as raw material for manufactures of steel welded pipes more... (BR)