28 March 2004 Sunday 06 Safar 1425 Exporters asked to explore new markets KARACHI, March 27: Finance Minister Shaukat Aziz said on Saturday that the next budget would be investment and growth-oriented and would ensure continuity of economic policies. ... Pakistan to challenge duty on matches ISLAMABAD, March 27: The government has decided to challenge the decision of the Egyptian Investigation Authority (EIA) for levying 29 per cent import duty on Pakistani matches ... Credit to private sector shoots up KARACHI, March 27: The private sector borrowing from banks has risen to Rs230 billion in eight and a half months of this fiscal year. This is more than three times the private sector borrowing of Rs78 billion in the comparable period of the last fiscal year. ... Property prices go up by 30-50pc KARACHI, March 27: Property rates in Karachi are heating up. Heavy influx of investors has triggered the prices to go up by 30-50 per cent in almost every area of the megacity in the last six months to one year, which in real terms has shattered the hopes of genuine buyers ... 5,000-acre land acquired for third phase: Super Highway estate KARACHI, March 27: The Sindh Industrial Trading Estates (Site) will develop third phase of the Super Highway Industrial Estate on a 5,000-acre area for which land has already been acquired from the Sindh government. ... Booming stock market clue to improved economy KARACHI, March 27: Dr Tariq Hasan, chairman Securities and Exchange Commission of Pakistan (SECP) said that stock index was a barometer of the economy and share prices reflected performance of corporate sector, political stability or otherwise and government policies. ... Pre-bid moot for PFL on April 5 ISLAMABAD, March 27: The Privatization Commission is holding a pre-bid conference for the sale of 94.8 per cent shares of Pak-Arab Fertilizer Limited (PFL) on April 5. ... Online shares trading KARACHI, Mar 27: Total worth of shares traded online through the AKD Trade website (akdtrade.com) crossed Rs100 billion mark. A company press release stated that akdtrade.com was Pakistan's first investment website ... Pakistan to install 7 container scanners LAHORE, March 27: Pakistan will install seven container scanners - four in Karachi and one each in Chamman, Torkham, and Lahore - at a cost of $6 million for selective container scanning on a "risk basis to take care of the security concerns of foreign buyers". ... Shaukat to attend IMF, WB meetings WASHINGTON, March 27: Finance Minister Shaukat Aziz will undertake a five-day visit of the United States from April 22. According to officials, he along with the State Bank governor ... Manufacturers urged to produce quality goods ISLAMABAD, March 27: Speakers at a seminar have stressed the need for a greater cooperation between Pakistani and American businessmen to manufacture quality goods for their consumption in both countries. ... CITs empowered to select any taxpayer: Audit under USAS ISLAMABAD, March 27: The government has empowered the Commissioner of Income Tax under the Income Tax Ordinance 2001 to select any taxpayer for audit under Universal Self Assessment Scheme (USAS). ... Detergent powder makers seek protection ISLAMABAD, March 27: Can the customs duty on intermediate goods derived from an industrial product be reduced, irrespective of the present system of four slabs, levied? ... Excess tax collection irks new CBR chief ISLAMABAD, March 27: Central Board of Revenue Chairman M. Abdullah Yousuf has directed all line members to carry out studies for devising measures to eliminate the chances of excess tax collection from taxpayers. ... Peshawar customs utilize budget funds for refund PESHAWAR, March 27: The customs collectorate, Peshawar, has utilized the current financial year's budgetary allocation for payment against exporters' claims of duty rebate, officials said. ... Zooming in on Safta KARACHI, March 27: The South Asian Free Trade Area (Safta) agreement was signed on January 6 at Islamabad this year during the Saarc summit. It is way ahead Sapta (South Asia Preferential Trade Agreement) ... SPI shows 0.16pc decline ISLAMABAD, March 27: The Sensitive Price Indicator (SPI) went down 0.16 per cent during the week ending March 25, mainly due to the decline for the first time in a whole year ... Prices ease on cotton market KARACHI, March 27: Cotton prices on Saturday eased by another Rs25 per maund as some of the ginners holding odd lots of low-mic lint sold in a bit haste. ...

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