Tax collection target missed by Rs7b

The government has managed to increase tax collection in October but fell Rs7 billion short of the target amid excessive reliance on indirect taxes. more... (ET)

Power issues: Govt willing to ‘hook up’ with India

In its desperate search for solutions to the chronic power crisis, the government is willing to ‘hook up’ with its traditional ‘adversary’. At a meeting chaired by Prime Minister Yousaf Raza Gilani, the government decided to seek a connection between Pakistan and India’s power grids to allow the import of electricity from the country’s larger neighbour. more... (ET)

Foreign firms express interest in Thar coal

There is a lot of interest in Thar coal project from foreign investors and several leading companies from China, United Kingdom and Hong Kong have expressed their interest in coal mining and power generation, said Sindh Board of Investment Chairman Zubair Motiwala on Tuesday. more... (ET)

Gas consumers: Senate panel objects to infrastructure levy

Desperate attempts on the part of the government to collect Rs40 billion annually through a new tax on gas consumers seemed to be fizzling out on Tuesday when a parliamentary panel moved to block passage of the bill in its existing form which undermines constitutional powers of the Senate and provinces. more... (ET)

Why Engro's debt has been good for Fauji

After every earnings report, Fauji Fertilizer, and its subsidiary Fauji Fertilizer Bin Qasim, should send a thank-you note to the Engro Corporation: the latter’s decision to finance its expansion plan through leverage has resulted in an earnings bonanza for the Fauji group, and caused investors to flee from Engro. more... (ET)

Circular Debt: Private sector owes Rs130b in electric bills, Secretary Finance

Secretary Finance, Waqar Masood said on Tuesday that the private sector owes Rs130b to the country’s electricity companies in unpaid bills. more... (ET)

Minister says Steel Mills a liability, wants govt to get rid of it

Federal Minister for Production Anwar Ali Cheema said on Tuesday that the government should rather get rid of the Pakistan Steel Mills, instead of struggling to keep the loss-making entity going. more... (D)

Corporate results: Earnings season ends, but not with a bang

Corporate profits soared by 43% on a yearly basis during the first quarter of fiscal 2012, led by the two usual heavyweights, exploration and production from the energy sector and banks from the services sector. more... (ET)

PPP,MQM agree to bring new LG System-2011

Pakistan Peoples Party (PPP), and Muttahida Qaumi Movement (MQM), has agreed to introduce a single Local Government System-2011 without rural and urban discrimination, prior to expiry on November 6, of the Local Government Ordinance-2001 which had been issued by the Sindh Governor. more... (BR)

Opposition to wait for elections in 2013: Gilani

Prime Minister Syed Yusuf Raza Gilani directed opposition to must follow the constitution and project masses for election in 2013, and demand to early election unwise. more... (BR)

PM directs to pace up mega water projects

Prime Minister Syed Yusuf Raza Gilani on Tuesday expressing concern over delay in the Neelum-Jhelum Hydropower Project, directed the Ministry of Water and Power and WAPDA to work out financial plan in consultation with Finance Ministry to expedite the project. more... (BR)

Trilateral summit: Agreements, but no breakthrough in Istanbul

A trilateral summit between Turkey, Pakistan and Afghanistan found some common ground between Islamabad and Kabul – but, at the same time, served to highlight the continued distrust between the neighbours ahead of an international conference on Afghanistan’s future to start today in Istanbul. more... (ET)

UAE to select uranium supplier early next year

The UAE will select a uranium supplier for its $20 billion nuclear energy programme in the first half of next year, Hamad Al Kaabi, the UAE's Permanent Representative to the International Atomic Energy Agency, said here Tuesday. more... (Gulf News)

GCC will spend $25b to expand power generation capacity

The Gulf Cooperation Council (GCC) countries are likely to spend up to $25 billion (Dh91.80 billion) over the next decade to install new power generation capacity to meet their burgeoning electricity demand, Adnan Ameen, director-general of the International Renewable Energy Agency (Irena) said here Tuesday. more... (Gulf News)

Oil prices tumble on Greek rescue vote, Chinese data

Crude oil prices slumped on Tuesday after Greece called for a referendum on its EU bailout deal, raising tensions in the eurozone debt crisis which threatens to hit energy demand, traders said. more... (Zawya)

Regulations benefit Islamic institutions

Dubai Islamic finance institutions have more to gain from complying with regulations because their objectives are based on fairness and trust, panelists at a corporate governance conference said. more... (Zawya)