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Showing posts with label BoJ chief sees Japan economy shrinking in H1. Show all posts
Showing posts with label BoJ chief sees Japan economy shrinking in H1. Show all posts

FBR chief orders recovery of Rs150bn arrears

Facing an imminent shortfall in revenue collection, chairman, Federal Board of Revenue, on Monday asked top tax officials to work out a mechanism to expedite clearance of around Rs150 billion revenue stuck up in litigation for the past few years, an official source told Dawn.
The tax machinery will have to collect Rs568 billion at any cost in the last quarter (April-June) to reach the downward revised revenue

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BoJ chief sees Japan economy shrinking in H1

 Bank of Japan governor Masaaki Shirakawa said the economy will likely contract in the first half mainly due to stalled production after the quake-tsunami, the Wall Street Journal reported Saturday.

"We are now expecting production and GDP will decline in the first quarter and the second quarter," Shirakawa said in an interview with the paper on Friday.

He said stalled production was the "heart of the problem" facing the Japanese economy in the aftermath of the monster March 11 quake and tsunami disaster which has left 26,455

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