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May 24, 2003 Saturday Rabi-ul-Awwal 21,1424 Economic revival tops agenda:Musharraf KARACHI, May 23: President Pervez Musharraf has emphasized that reviving economic growth is top of the government agenda.... 4pc deficit target likely for 2003-04 ISLAMABAD, May 23: The government is expecting about Rs177 billion overall budgetary deficit (about 4 per cent of the GDP) during 2003-04 to maintain a steady progress towards achieving five-year targets... Yield stabilizes Borrowing thru TBs doubles in 9 months KARACHI, May 23: The stock of the government debt raised through treasury bills has almost doubled in nine months to March 2003 — thanks to a record four per cent cut... Fridge industry reduces freon gas use by 50pc KARACHI, May 23: Manufacturers of refrigerators and deep freezers have phased out 40-50 per cent ozone depleting substance (ODS) gas much earlier against the actual target of phasing out of 50... APCC may enhance PSDP to Rs161bn ISLAMABAD, May 23: The Annual Plan Coordination Committee (APCC) meets here on Saturday to finalize Public Sector Development Programme (PSDP) and macroeconomic framework for the year 2003-04.... Rupee up on lower SBP dollar buying KARACHI, May 23: The rupee on Friday inched up to 57.62/57.64 against the US dollar in the inter-bank market from 57.66/57.68 on Thursday as the State Bank did not intervene in... Germany to follow cautious visa rules KARACHI, May 23: German consul general in Karachi Ms Verena G Von Roedern on Thursday said that her visa section had to strictly follow the Shengen countries’ visa rules which were... GlaxoSmithKline Pakistan KARACHI, May 23: Mr M. Salman Burney, chairman/chief executive of GlaxoSmithKline could be an envy of many corporate bosses in the country. Last year he received what might possibly be one... KSE 100-share index maintains upward drive KARACHI, May 23: Stocks on Friday posted fresh gains on a wide front as investors were not inclined to take even a weekend technical breather amid predictions of fresh price flare-up.... Pakistan may engage India in gas pipeline KARACHI, May 23: Pakistan plans to persuade India in peace talks to join a transnational natural gas pipeline project, Petroleum Minister Nauraiz Shakoor Khan said on Friday.... Towel makers want QSC powers restored KARACHI, May 23: Patron-in-chief of Towel Manufacturers’ Association of Pakistan S.M.A. Rizvi has urged the commerce minister to restore the powers of Quota Supervisory Council (QSC) if smooth transition has to... July-April collection stands at Rs352.1bn ISLAMABAD, May 23: The tax authorities collected Rs352.1 billion during 10 months of the current financial year against the target of Rs348.4 billion, showing an increase of 1.06 per cent.... New IT return form under USAS introduced ISLAMABAD, May 23: The Central Board of Revenue (CBR) has introduced a new income tax return form to be effective from July 1, 2003 under the Universal Self Assessment Scheme (USAS).... Yamaha, Suzuki cut bike prices KARACHI, May 23: Two more motorcycle makers have reduced the prices by Rs3,000-10,000 in the last few days.... CresBank ratings upgraded LAHORE, May 23: The Pakistan Credit Rating Agency (Pacra) has upgraded the long-term and short-term ratings of Crescent Investment Bank Limited (CresBank) to “A-” (single A minus and “A1” (single A... Physical business remains low KARACHI, May 23: Physical business on the cotton market on Friday remained at a low ebb despite the fact that ginners have lowered their asking prices to clear the backlog of... RCCI seeks cut in tax rate to 26pc RAWALPINDI, May 23: The Rawalpindi Chamber of Commerce and Industry (RCCI) on Thursday asked the government to slash the rates of personal and corporate income tax to a maximum of 26... Palm oil prices lower KUALA LUMPUR, May 23: Malaysia’s palm oil futures tracked lower on Friday after the market failed to sustain earlier gains in the face of chart resistance, traders said....

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