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June 4, 2003 Wednesday Rabi-us-Sani 3, 1424 Govt may reduce customs tariff: Raw materials ISLAMABAD, June 3: The federal government is likely to reduce customs tariff on raw materials of around 200 items in the budget for 2003-04 to make the local products competitive with... 85 new items export costs Rs138 million subsidy ISLAMABAD, June 3: The chairman, Export Promotion Bureau (EPB), Tariq Ikram on Tuesday said around 85 new products were exported to 38 new countries during first 10 months of the current... Rs135bn may be collected from energy levy ISLAMABAD, June 3: The government is targeting to collect around Rs130-135 billion revenue during 2003-04 from the energy sector, including general sales tax (GST) on electricity and surcharges on gas and... $2.232bn balance of payment support likely ISLAMABAD, June 3: The federal government is expecting $2.232 billion balance of payment (BOP) support from external resources during fiscal 2003-04.... CED on beverages likely to be raised ISLAMABAD, June 3: The government is considering a proposal to raise rate of central excise duty (CED) on beverages for arresting the constant decline in revenue collection from the commodity.... Pakistan, US trade talks soon ISLAMABAD, June 3: Commerce Minister Humayun Akhtar Khan said on Tuesday Pakistan would soon initiate dialogue on signing trade and investment facilitation agreement (TIFA) with the United States to enhance volume... Minfal sees wheat output at 19.2m tons ISLAMABAD, June 3: The output of current wheat crop may come to 19.25 million tons from 8.09 million hectares which, though short of the target, still exceeds last year’s harvest (18.23... SBP mops up Rs15bn KARACHI, June 3: The State Bank on Tuesday indicated it would not allow further fall in the interest rates by mopping up Rs15 billion from an excessively liquid inter-bank market. The... SLCL right shares KARACHI, June 3: The shareholders of Security Leasing Corporation Limited (SLCL) approved 150 per cent right issue of preference shares at an extraordinary general meeting held on Tuesday.... US deflation BERLIN, June 3: The probability that the United States economy could be facing deflation is low, US Federal Reserve Chairman Alan Greenspan told the International Monetary Conference here.... Oil prices dip LONDON, June 3: Oil prices trickled lower on Tuesday as traders banked profits from a powerful rally a day earlier and US officials in Iraq said a resumption of the country’s... Political uncertainty forces bulls to play safe KARACHI, June 3: A massive disinvestment programme announced by the Privatization Commission sent a wave of an optimism on the stock market on Tuesday but negative news from the political front... NWFP to revise medium term budget plan PESHAWAR, June 3: The Medium Term Budgetary Framework (MTBF), a provincial government document setting budgetary targets for a period of four financial years starting from the 2002-03 fiscal year, would be... Cotton market lacks normal trading KARACHI, June 3: Cotton market on Tuesday lacked normal trading interest as spinners remained conspicuous by their absence despite reports of falling unsold stocks with the ginners.... Kabul needs fast growth, aid to beat poverty KABUL, June 3: Afghanistan needs double-digit economic growth over the next five years to haul itself from poverty, Finance Minister Ashraf Ghani Ahmadzai said on Tuesday.... Pakistan offers CNG expertise to Iran ISLAMABAD, Jun 3: Pakistan has offered Iran cooperation to help convert 1.6 million vehicles from petrol to CNG during the next seven years.... Raise in tax exemption limit sought KARACHI, June 3: Union of Small and Medium Enterprises (Unisame) has sought increase in tax exemption limit to Rs150,000 for small and medium enterprises in the forthcoming budget.... Onion, tomato wholesale prices fall ISLAMABAD, June 3: The weekly national average wholesale prices of onion and tomato for the week ending May 30, 2003, respectively, was Rs140 and Rs201 per 40 kg, which is 46... Molasses exporters demand ST refund KARACHI, June 3: The molasses exporters have sought Minister for Finance Shaukat Aziz’s intervention for the release of huge outstanding sales tax refunds.... Pakistan to hold expo in Kabul ISLAMABAD, June 3: Pakistan will hold a single country exhibition in Afghanistan to introduce and seek greater market access for new products....

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