| 26 May 2004 | Wednesday | 06 Rabi-us-Saani 1425 |
|
Development levy on petroleum may go
ISLAMABAD, May 25: The ministry of finance is currently examining various proposals, including abolition of Rs45 billion annual petroleum development surcharge in the budget for 2004-05. ... 
|
|
Far-reaching changes in ST regime likely
KARACHI, May 25: The government is expected to bring far-reaching changes in the Sales Tax regime, which may include the abolition of three per cent additional tax and removal of sales tax on raw materials at import stage ...
|
|
||
|
Rupee gains against dollar
KARACHI, May 25: The rupee gained seven paisa against the US dollar in the inter-bank market on Tuesday from 57.75 a dollar to 57.68. Senior bankers said the local currency captured part of the lost ground against the greenback on higher inflows of foreign exchange. ...
|
|
15pc liquid reserves: SBP directive to DFIs
KARACHI, May 25: The State Bank has asked development finance institutions or DFIs to maintain statutory liquid reserves or SLR at 15 per cent of their total time and demand liabilities (deposits) from January 1, 2005. ...
|
|
|
||
|
Major duty cuts in the offing: Engineering, construction
ISLAMABAD, May 25: The government plans to reduce duties on plastic, steel, power sector, ship breaking, aluminium, medical equipment and a number of other engineering industries ...
|
|
World Bank treads new path
SHANGHAI, May 25: World Bank President James D. Wolfensohn said that his organization was "making changes in the way we think," so that more could be done to alleviate poverty in the world. ...
|
|
|
||
|
DFIs asked to maintain capital adequacy
KARACHI, May 25: The State Bank has introduced the concept of capital adequacy ratio to development finance institutions (DFIs). From July 1, the DFIs will maintain this ratio at the rate of eight per cent of their risk-weighted assets. ...
|
|
52 firms' board meetings this week
KARACHI, May 25: Around 52 companies would hold meetings of their Board of Directors in the remaining three days of the current working week. Three-quarters of those companies belong to the cotton textile sector. ...
|
|
|
||
|
Islamic banking branch
KARACHI, May 25: The State Bank on Tuesday issued a licence to Standard Chartered Bank for operating its first ever dedicated Islamic banking branch located in Karachi. ...
|
|
Money-changers can set up mini exchange companies
KARACHI, May 25: The State Bank said on Tuesday it had decided in principle to allow money-changers to establish B category exchange companies. ...
|
|
|
||
|
Firm trend on cotton market
KARACHI, May 25: Cotton market on Tuesday maintained firm trend as spinners and mills indulged in forward trading apparently in an effort to beat an imminent price flare-up based on a short crop. ...
|
|
Stocks remain flat on lack of general interest
KARACHI, May 25: Stocks on Tuesday lacked normal trading interest as both leading institutional traders and general investors remained conspicuous by their absence for no apparent bearish reasons. ...
|
|
|
||
