Govt decides to transfer their assets to the managements in order to give autonomy to state-run units.

Pilot project already implemented at regional office in Lahore.

Aim to finalise second phase of free trade agreement.

Move comes as part of bid to curb under-valuation, under-invoicing

Board aims to raise tax-to-GDP ratio, stop under-invoicing.

First phase of reforms project to be completed by 2012.

Government had set the petroleum levy collection target at Rs110 billion in the 2010-11 fiscal budget.

The board collected Rs865 billion during this period.

Facing Rs52 billion shortfall for eight months.

Power distribution companies had sought an increase of 39 paisa per unit as part of fuel adjustment for January.