May 28, 2005	Saturday	Rabi-us-Sani 19, 1426

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Inefficiency endangers reform agenda: Donors tell Pakistan ISLAMABAD, May 27: The World Bank and the Asian Development Bank (ADB) have urged the government to improve its weak implementation capacity that “poses risks to the key reform policies and...		Withholding tax may be raised: Textiles export proceeds ISLAMABAD, May 27: The Federal Textile Board (FTB) on Friday proposed zero-rating of sales tax on the whole chain of textile-related products along with the raising of withholding tax rate on...
Tax reforms to improve revenue collection ISLAMABAD, May 27: The revenue collection will register a growth of 0.3 per cent of GDP every year during the Medium Term Development Framework (MTDF) 2005-10 because of initiation of reform...		Auto industry to raise output LAHORE, May 27: Pakistan’s auto industry, which increased its production by 46 per cent in the last 10 months, is projected to make 5,000 more units than the market demand from...
Textile industry forms two bodies ISLAMABAD, May 27: The textile industry on Friday constituted two committees for improving efficiency of the powerloom sector and production of long staple cotton in the country. The committees will submit...		Unisame for forum to resolve disputes KARACHI, May 27: The Union of Small and Medium Enterprises (Unisame) has urged the government to establish the office of Solicitor General and the Pakistan Institute of Arbitrators Referees and Umpires...
Oil climbs as demand from US to rise sharply LONDON, May 27: World oil prices rose on Friday as the United States prepared for the start of its summer driving season when demand for gasoline, or petrol, increases sharply. New...		China to reinstate rebate on IT items BEIJING, May 27: China will reinstate a tax rebate of 17 per cent on the exports of some IT products to improve the competitiveness of domestic companies, the Ministry of Commerce...
Japanese reform starts paying off SEOUL, May 27: The head of the Japan’s central bank said on Friday that Japan’s painstaking economic reforms are paying off but its debt-burdened public sector still needs to be overhauled....		Asian central banks discuss currency policy SINGAPORE, May 27: Asian central banks stepped up efforts on Friday aimed at coordinating their currency policies and stamping out sharp fluctuations in exchange rates to promote investment, growth and trade...
EU offers China formal talks on textiles BRUSSELS, May 27: The European Union’s executive commission said on Friday it has made a request for formal talks with Beijing over two types of textile imports from China, bringing the...		Local TCP lint buyers demand equal terms KARACHI, May 27: The textile industry has taken strong exception of the discriminatory approach of the Trading Corporation of Pakistan (TCP) as it has allowed two months period to foreign buyers...
Stocks shed another 198 points on bomb blast KARACHI, May 27: The KSE 100-share index on Friday plunged by another 198 points on panic-selling triggered by reports of a bomb blast in a shrine in Islamabad and heavy death...		Listless trading on cotton market KARACHI, May 27: Quieter conditions prevailed on the cotton market on Friday as ready business remained sluggish in the absence of strong mill demand despite the fact that some of the...
Karachi Port operations KARACHI, May 27: Two ships carrying steel bars and containers are expected to arrive at the outer anchorage on Saturday, according to KPT sources. Berthing activity at the wharves was active...		Infrastructure development TOKYO, May 27: Japan and Brazil signed an agreement on Friday for Tokyo to lend $500 million to the South American nation to develop infrastructure with an eye to helping Japanese...