May 14, 2005	Saturday	Rabi-us-Sani 5, 1426

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Duty cut fails to check tea smuggling KARACHI, May 13: Although the cut in import duty on tea from 20 to 10 per cent and advance income tax from six to two per cent in last budget has...		Saarc Securities Regulators Forum set up ISLAMABAD, May 13: Prime Minister Shaukat Aziz on Friday urged the capital market regulatory bodies and stock exchanges in the South Asian region to establish greater level of cooperation and co-ordination....
Sindh all set to introduce road usage charge KARACHI, May 13: The Sindh government is all set to introduce a ‘road usage charge’ in place of motor vehicle tax in the next budget and is in consultation with the...		Tariff revision of 700 items under study LAHORE, May 13: The Central Board of Revenue is considering tariff revision of some 700 items to bring the menace of smuggling, under-invoicing and misdeclaration under control. “We are thinking of...
Russian trade team due next week KARACHI, May 13: The Russian businessmen are targeting Pakistan for their future relationship and are despatching in quick succession one trade delegation after the other to explore trade as well as...		Pakarab Fertilizers bidding today ISLAMABAD, May 13: The Privatization Commission is holding bidding for the privatization/sale of 94.8 per cent shares of Pakarab Fertilizers (Pvt) Limited (PAFL) on Saturday (today) at the PC conference room....
KCCI seeks 37 items free-import from India KARACHI, May 13: The Karachi Chamber of Commerce and Industry (KCCI) has sought import of 37 items from India under free trade. The items on which the Chamber seeks import from...		IT-to-GDP ratio stands at 3 per cent ISLAMABAD, May 13: Only 55,111 taxpayers out of a total 518,384 non-salary taxpayers were showing an annual income of more than Rs250,000, which showed that most of the taxpayers have understated...
Exports to Sri Lanka up by 80pc KARACHI, May 13: Pakistan’s exports to Sri Lanka rose more than 80 per cent in nine months of this fiscal year to $109.6 million from $60.8 million. A senior official of...		Climate for investment conducive, says PM ISLAMABAD, May 13: Prime Minister Shaukat Aziz has said that there has been a record cotton crop this year and a bumper wheat crop and an overall growth in the GDP...
CBR to implement ACP in 15 days KARACHI, May 13: The Central Board of Revenue (CBR) is going to implement Automated Clearance Procedure (ACP) within a fortnight which will facilitate exporters for speedy clearance of low risk export...		TMA seeks action against forwarders KARACHI, May 13: The Towel Manufacturers’ Association of Pakistan (TMA) has urged the government to take action against freight forwarders’ (consolidators) for issuing fake bill of ladings in connivance with shipping...
Stocks recover 127 points on PTCL bidding date KARACHI, May 13: The KSE 100-share index on Friday recouped a major portion of the overnight loss as all the pivotals including PTCL and leading oil shares came in for strong...		Dullness prevails on cotton market KARACHI, May 13: Trading activity on the cotton market on Friday remained insipid as price ideas of buyers and sellers were poles apart because of quality factors. After having purchased about...
Karachi Port operations KARACHI, May 13: Eight ships carrying chemicals, general cargo and to load ethanol are due to arrive at the outer anchorage on Saturday, according to KPT sources. Berthing activity at the...		Banks borrow Rs33bn from State Bank KARACHI, May 13: Pakistani banks borrowed heavily from the central bank on Friday to meet their cash reserves requirement ahead of the weekend as the money market remained short of funds,...