May 18, 2005	Wednesday	Rabi-us-Sani 9, 1426

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Govt wants tax-to-GDP ratio at 13 per cent: Budget for 2005-06 ISLAMABAD, May 17: The federal government has directed the budget planners to make sure that the present tax-to-GDP ratio of 11.1 per cent rises to 13 per cent in the budget...		Private sector borrows Rs363bn in 10 months KARACHI, May 17: The private sector’s borrowing from banks crossed Rs363 billion in 10 months of this fiscal year, beating the full year revised target of Rs350 billion. In July-April 2004-05,...
AHSL board to decide buy-back shares on 20th KARACHI, May 17: Arif Habib Securities Limited (AHSL) announced on Tuesday that a meeting of the company’s board would be held on May 20 to “consider buy-back of shares of the...		Cellphone users to hit 20m mark in 2-3 years: PM ISLAMABAD, May 17: Prime Minister Shaukat Aziz here on Tuesday said the number of cellphone users in the country would touch the 20-million figure within the next two to three years....
CBR plans desk audits to check tax evasion ISLAMABAD, May 17: The Central Board of Revenue (CBR) has constituted special teams for carrying out desk audits of the income tax returns filed this year to detect taxpayers who have...		10pc UBL shares IPO may start on June 2 ISLAMABAD, May 17: In continuation of its “Privatization for the People” programme, the Privatization Commission is set to offer 10pc (51.8m) shares of the United Bank Limited (UBL) (with a green-shoe...
Govt issues warning to freight forwarders KARACHI, May 17: The Ministry of Ports and Shipping has warned customs-approved freight forwarders and shipping companies against causing long delays in the delivery of imported cargo and recovery of unauthorised...		Oil prices steady LONDON, May 17: World oil prices steadied on Tuesday as traders focused on supplies before publication of official US crude inventories data and amid comments from Opec, analysts said....
PTCL bidding as per schedule LAHORE, May 17: The bidding for the privatization of state-owned Pakistan Telecommunication Company Limited (PTCL) will take place on June 10 as scheduled. Speaking to reporters at the International Telecommunication Union...		5pc rebate on leather garments sought KARACHI, May 17: Textile Ministry has asked the Central Board of Revenue (CBR) to give 6 per cent compensatory rebate on export of leather garments as allowed by the Economic Coordination...
PTCL-driven rally pushes index up by 122.45 points KARACHI, May 17: Stocks on Tuesday resumed trading on a bullish note as PTCL-driven rally engulfed the entire market after conflicting rumours about the change in its bidding date were discounted....		Trading remains slow on cotton market KARACHI, May 17: Physical trading on the cotton market on Tuesday remained slow as leading spinners and mills were preparing for the next TCP auction. However, a stray lot of 800...
Karachi Port operations KARACHI, May 17: a dozen ships carrying tallow,palm oil and to load molasses are expected to arrive at the outer anchorage on Wednesday,according to KPT sources. Berthing activity at the wharves...		Hassan elected SASRF chairman ISLAMABAD, May 17: The Securities and Exchange Commission of Pakistan (SECP) Chairman Dr Tariq Hassan and the Securities Board Nepal Chairman Deepak Raj Kafle have been elected as chairperson and vice-chairman,...