Rs903bn budget for 2004-05: Stress on growth and investment -•One million jobs to be created •Incentives to boost agriculture •Power tariff cut •Sales tax on cotton seed oil •Duty, ST relief for industry
ISLAMABAD, June 12: Finance Minister Shaukat Aziz presented the federal budget 2004-05 in the National Assembly on Saturday
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Cabinet approves budget
ISLAMABAD, June 12: The federal cabinet, which met here on Saturday with Prime Minister Mir Zafarullah Khan Jamali in the chair, approved a Rs903 billion (approximately) budget for 2004-05. The prime minister then signed the budget document. He appreciated the efforts of Finance Minister Shaukat Aziz and his team for preparing a 'people friendly' budget
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Reaction to budget mixed
ISLAMABAD, June 12: Political parties have reacted variously to the budgetary proposals presented in the National Assembly and Senate here on Saturday evening.
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Govt employees get 15pc raise: Relief for pensioners
ISLAMABAD, June 12: Finance Minister Shaukat Aziz on Saturday announced a number of relief measures including a 15 per cent dearness allowance for government employees and 8 to 16 per cent raise for pensioners.
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Rs202bn for development programme
ISLAMABAD, June 12: Finance Minister Shaukat Aziz unfolded here Saturday a Public Sector Development Programme (PSDP) with a total outlay of Rs202 billion for the fiscal 2004-05, which is 31 per cent higher than the outgoing year.
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Provinces to receive 20pc more
ISLAMABAD, June 12: The federal budget 2004-05 has projected Rs256.7 billion net transfers to the provinces compared to Rs213 billion during the current year, showing an increase of 20.5 per cent.
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Rs6bn allocated for 46 health projects
ISLAMABAD, June 12: The health sector allocation recorded a significant jump with enhanced funding of Rs6 billion proposed for fiscal year 2004-05 under the public sector development programme (PSDP), against Rs4.37 billion allocated in the current year.
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Income tax exemption limit increased to Rs100,000
ISLAMABAD, June 12: The government has proposed to increase the income tax exemption limit to Rs100,000, reduce the rates of withholding tax on three agriculture products, withdraw three income tax exemptions and allow tax exemption for technical education.
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Railway board separated from ministry
ISLAMABAD, June 12: Finance Minister Shaukat Aziz on Saturday announced separation of the railway board from the ministry of railways.
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Rs925m for women development
ISLAMABAD, June 12: An amount of Rs925 million has been allocated for women development in the Public Sector Development Programme 2004-05.
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Precision bombs hit Shakai hide-outs
WANA, June 12: Air force jets and military helicopters bombed suspected hide-outs of foreign militants in the remote tribal region for the second day on Saturday.
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'Cold start doctrine' being closely studied: ISPR
RAWALPINDI, June 12: Pakistan is closely studying India's 'Cold start doctrine', though the country feels that it is not directly threatened by the doctrine, director general Inter-Services Public Relations Major General Shaukat Sultan said on Saturday.
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India urged to avoid 'hard talk'
ISLAMABAD, June 12: Pakistan on Saturday pleaded for avoiding any "hard talk" between the governments in New Delhi and Islamabad, emphasising that both sides were about to enter into a crucial stage and their delegations would be negotiating important nuclear confidence building measures (CBM).
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Karachi attack: 8 suspects arrested
ISLAMABAD, June 12: Federal Minister for Information Sheikh Rashid Ahmed on Saturday disclosed that eight people suspected of planning a terrorist attack on the convoy of Corps Commander Karachi on Thursday had been nabbed and, according to preliminary reports
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Afghan governor attacked
KABUL, June 12: Suspected rebels rocketed a convoy carrying UN officials and electoral staff as well as an Afghan governor and US-led coalition troops but there were no casualties or damage, an official said on Saturday
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Diplomat shot dead in Baghdad
BAGHDAD, June 12: Gunmen killed a top diplomat on Saturday in the first high-profile assassination in Iraq since an interim government took over on June 1.
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