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April 2, 2003 Wednesday Muharram 29, 1424 Govt to simplify tax rules in budget ISLAMABAD, April 1: The government has decided to thoroughly “simplify” customs, sales tax and income tax rules in the next budget to encourage voluntary payment of taxes both by the corporate... Milk, beef, poultry become costlier KARACHI, April 1: Consumers paid last month higher prices for loose milk, curd, milk powder, beef and poultry products. Whereas, the prices of greens, pulses, rice, sugar and flour had either... SECP notifies NBFC rules ISLAMABAD, April 1: The Securities and Exchange Commission of Pakistan (SECP) notified the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 which will require all NBFIs into NBFCs, whether conducting a... KSE outperforms other global stock markets KARACHI, April 1: The Karachi Stock Exchange index of 100 shares (KSE-100) has risen 51.42 per cent between March 31, 2002 and March 31, 2003 which has enabled it to hold... Banks can remit 50pc of import bill in advance KARACHI, April 1: Banks can now make more outward remittances against imports in advance — if the importers so desire.... Implementation of TRIMs Pakistan seeks 4 years’ extension GENEVA, April 1: Pakistan has sought an extension for yet another three to four years for implementation of trade related investment measures (TRIMs) in the country on the plea to give some... Investment moot 300 OIC delegates confirm participation ISLAMABAD, April 1: Over 300 delegates from the Organization of Islamic Conference (OIC), including Syria, Iran, Saudi Arabia, Yemen, Turkey, Egypt, Oman, Sudan, the UAE and Bangladesh, have confirmed their participation... Land in EPZs reserved for Chinese investors KARACHI, April 1: Industries and Production Minister Liaquat Ali Jatoi said on Tuesday land had been reserved in all export processing zones (EPZs) for Chinese investors.... Stocks finish with extended fall of 9.56 points KARACHI, April 1: Stocks on Tuesday finished with an extended fall as leading base shares came in for renewed selling at the higher levels and took the entire market along with... US economy WASHINGTON, April 1: The Iraq war has frozen much of the US economy, throwing a four-month manufacturing expansion into reverse, trapping consumers at home and unnerving employers, surveys showed on Tuesday.... Ginners not ready to lower asking price KARACHI, April 1: The cotton market on Tuesday maintained firm trend as ginners were not inclined to lower their asking price in the backdrop of reports of a short crop.... Ex-Im Bank backs sales to Pakistan WASHINGTON, April 1: The US Export-Import Bank on Monday said it is helping support short-term credit sales of up to $125 million worth of US consumer goods, spare parts, raw material... Karachi Port operations KARACHI, April 1: Six ships carrying containers and chemicals are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Release of fund demanded KARACHI, April 1: Pakistan Tanners Association (PTA) chairman S.M. Naseem has expressed concern over non-release of fund from the Export Development Fund (EDF) for the completion of combined effluent treatment plant... ‘Sufficient sugar stock available’ KARACHI, April 1: The Pakistan Sugar Mills Association does not expect any price flare-up in sugar after flotation of export tenders because there is a hefty surplus stock of about 0.9... Exporters urged to understand dumping law FAISALABAD, April 1: All Pakistan Cloth Exporters Association (APCEA) chairman Khurram Iftikhar has said that Pakistani exporters must understand the anti-dumping law to emphatically defend themselves and survive in the international... Development of Gwadar port discussed ISLAMABAD, April 1: Chief Minister of Balochistan Jam Yousaf on Tuesday met Prime Minister’s Adviser on Finance Shaukat aziz and discussed with him progress on ongoing Gwadar sea port and infrastructure... Clarification KARACHI, April 1: The forthcoming conference of OIC countries is being held in Islamabad on scheduled dates of April 19 and 20, and the members countries have also confirmed their participation,... TFC rating KARACHI, April 1: JCR-VIS credit rating company has assigned preliminary rating of single A minus to the proposed TFC issue of Rs700 million of the Pakistan Services Limited. This initial rating... Donation KARACHI, April 1: Rice Exporters Association of Pakistan (REAP) chairman Abdul Rahim Janoo has appealed to the members to donate rice for the war stricken people of Iraq....

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