| 07 May 2004 | Friday | 16 Rabi-ul-Awwal 1425 |
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Punjab not to budge on population as criterion: NFC formula
LAHORE, May 6: In what is billed to be final meeting of the National Finance Commission (NFC) scheduled for next week, Punjab will stick to its stand that population should be retained as the sole indicator for resource distribution among the provinces in the next award. ... 
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CBR chairman admits loopholes in tax system
KARACHI, May 6: The Chairman of Central Board of Revenue Abdullah Yousuf acknowledged on Thursday evening that there was a huge gap and many loopholes in the sales tax system which need to be plugged. "Sales tax is relatively a new tax and we are going through a trial and error phase," ...
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Dollar moves up in open market
KARACHI, May 6: Import of around $25 million worth of gold and silver in the past three days created extra demand for dollars in open currency market increasing the gap between official and open market exchange rates. ...
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Employees to get shares at 50pc discount
ISLAMABAD, May 6: The government has decided to offer 10 per cent shares of four privatized units to their employees at 50 per cent discount and if they fail, take these shares to the market. ...
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KCCI seeks duty relief on 69 items: Next trade policy
KARACHI, May 6: The Karachi Chamber of Commerce and Industry (KCCI) has identified 69 items, prone to smuggling, urging the government that the rate of custom duty on such items ...
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Islamabad to enhance trade with Dushanbe
ISLAMABAD, May 6: Pakistan and Tajkistan agreed on Thursday to enhance bilateral trade and economic cooperation and set up road and air-link. ...
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Pakistan may import Tajik cotton
ISLAMABAD, May 6: Federal Commerce Minister, Humayun Akhtar Khan said on Wednesday that government was considering a proposal to import cotton from Tajikistan to meet the local demand. ...
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Budget to focus on investment
ISLAMABAD, May 6: The budget for 2004-05 will focus on eliminating irritants to local and foreign investment, says a senior government official. ...
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Code may cover non-listed companies: Corporate governance
ISLAMABAD, May 6: The Federal Finance Minister, Mr Shaukat Aziz, stressing the need of making the public sector companies imbibe transparency and accountability ...
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Oil prices soar to 13-year highs
LONDON, May 6: World oil prices soared to fresh 13-year highs on Thursday, nearing $40 in New York on fears of terrorist attacks on Middle East oil facilities and US gasoline shortages, traders said. ...
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Ginners, spinners lock in price war
KARACHI, May 6: Steady conditions were witnessed on the cotton market on Thursday as ginners and spinners remained locked in a price war but it appears to be a no-win situation for the latter. ...
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Stocks recover 21.45 points on short-covering
KARACHI, May 6: Stocks on Thursday rose from the overnight lows on active short-covering at the lower levels but the buying support lacked the aggressiveness associated with a bull market. ...
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