May 29, 2005	Sunday	Rabi-us-Sani 20, 1426

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Building up of inflationary pressures KARACHI: Inflation was projected to be averaged at five per cent during 2004 to 2007 in the budget speech given by Finance Minister Shaukat Aziz on June 12 last year when...		Russia offers 25pc cut in duty: 26 items ISLAMABAD, May 28: Russia has offered a 25 per cent concession in import duty on around 26 items under its generalized system of preferences (GSP) scheme. Officials told Dawn on Saturday...
EC begins probe into ‘dumping’: Ethyl alcohol ISLAMABAD, May 28: The European Commission (EC) is investigating alleged dumping of ethyl alcohol into European Union (EU) member countries by exporters from Pakistan. Well-placed sources told Dawn on Saturday that...		Growers get low price for gram ISLAMABAD, May 28: Gram growers in the country are getting 35 per cent less price than the official procurement rate, sources told Dawn here on Saturday. They said the government had...
China to launch steel futures SHANGHAI, May 28: The Shanghai Futures Exchange and China’s futures regulator are considering the launch of steel futures, which to date have eluded efforts to identify a product standard enough to...		US relying on ‘unprecedented borrowing’: IMF WASHINGTON, May 28: The US economy has “solidified” over the past year and the outlook is favourable, but is relying on “unprecedented borrowing” from foreign sources, the International Monetary Fund said...
A case for private sector employees KARACHI, May 28: Besides other factors, the rapidly rising POL prices are instrumental in raising the cost of production of all goods and services. That in turn pushed the prices up...		Kazakhstan binds tariff between 5 to 23pc ISLAMABAD, May 28: The Kazakhstan government has offered to reduce substantially customs duty on Pakistan’s major exportable products to increase trade between the two countries. Officials told Dawn on Saturday that...
Coping with inflation KARACHI: The economy is growing this year by 8.35 per cent, which is much faster than the targeted growth of 6.6 per cent, and very impressive, and the government deserves its due....		‘Prices to come down in two months’ ISLAMABAD: The government has launched a three-pronged strategy — tightening of monetary policy, improving supply side management of food items and preparing local producers for international competition — to fight rising...
Banks in NWFP fear defaults PESHAWAR: Lower income groups, particularly the salaried class, will be forced to experience further difficult days in case recent changes brought about under the State Bank’s monetary policy fail to check...		No respite in Balochistan QUETTA: The rising cost of living is playing havoc with people’s lives in Balochistan. The lives of the salaried and low-paid workers have become miserable as they have no means to...
Less jobs mean more miseries for rural people MULTAN: The incidence of poverty is alarmingly high in rural areas of the country and majority of the people live at the subsistence level, thus, a large chunk of the rural...		Middle class vanishing in Punjab LAHORE: Most of his friends were astonished when Yawar Khan (real name being withheld on request), an accounts officer working with a semi-autonomous government agency, asked them to find him a...
Lower-middle class hardest hit KARACHI: It’s hard to believe that till the early 80s a lower-middle class family of five in Karachi managed to make ends meet on incomes ranging between Rs1,000 and Rs1,500. Nowadays...		Credibility of inflation data KARACHI: For a vast majority of the 150 million people of Pakistan, the inflation rate is Latin and Greek. Even persons like former President Ghulam Ishaq Khan, who served for many...
High production cost badly hits textile industry KARACHI: Measures taken in the last budget and trade policy to reduce the cost of doing business in the country have failed miserably, as the government was not able to contain...		Record rise in property prices KARACHI: Perhaps Pakistan is the only country in the world where property prices have jumped by 200-300 per cent from 2001. However, this phenomenal rise does not match with the rentals...
Consumer durables comparatively cheaper KARACHI: The trend of inflation in food items has been on rise for the last four years, while prices of domestic appliances, television, clothes, kitchen utensils, etc., have either remained pegged...		Too little, too late KARACHI: “An economist is an expert who will tell you tomorrow why the things he predicted yesterday did not happen today”. Economic managers in our country are no exception. They are...