June 5, 2005	Sunday	Rabi-us-Sani 27, 1426

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Executive summary of Economic Survey 2004-05 ISLAMABAD, June 4: Following is the executive summary of the Economic Survey 2004-05, released here on Saturday....		Tax-to-GDP ratio falls to 9pc ISLAMABAD, June 4: The tax-to-GDP ratio has declined to 9 per cent in 2004-05 from the 9.4 per cent of last year, says the Economic Survey released on Saturday....
Stock market faces double trouble: PTCL, CVT issues KARACHI, June 4: The postponement of PTCL sell-off is likely to cast a devastating impact on the stock market, but more so, on the credibility of government’s privatization programme....		Contingent liabilities up by 25pc ISLAMABAD, June 4: Contingent liabilities (both explicit and implicit) have increased by 25 per cent to Rs95 billion during the current fiscal year from Rs75.9 billion last year, reveals Economic Survey 2004-05....
Tax exemptions cause Rs24.8bn revenue loss ISLAMABAD, June 4: The revenue loss to the national exchequer because of major tax exemptions, particularly in the customs duty, widened by 25.5 per cent to Rs24.851 billion in the year...		Survey gives wrong data on banking spread KARACHI, June 4: The Economic Survey 2004-05 released on Saturday contains wrong data on the banking spread, or the gap between lending and deposit rates of banks. While discussing the interest...
Pakistan loses $245m on export of major items ISLAMABAD, June 4: Pakistan lost $245.3 million on the export of major items during the July-March period of the fiscal year 2004-05,...		Budget to benefit exporters: Humayun LAHORE, June 4: The budget for the next fiscal year will carry a number of incentives for exporters, addressing a number of their longstanding demands....
Rs1bn funds for PCSIR KARACHI, June 4: The government is providing more than a billion rupees in next five years to the Pakistan Council of Scientific and Industrial Research (PCSIR) for purchase of equipments, training...		Trade deficit widens ISLAMABAD, June 4: Trade deficit has widened by 141.49 per cent to $4.842 billion during the July-April period of current fiscal year as against $2.005 billion over the same period last...
KSE 100-share index up by 47.2pc in nine months ISLAMABAD, June 4: The Karachi Stock Exchange (KSE) crash in April was not a “fault” of the brokers as had been case in some previous market fall but was mainly due...		Cotton market lacks lustre KARACHI, June 4: The cotton market closed the weekend session on a cheerless note as spinners and mills were again conspicuous by their absence amid slow trading. Market sources said selling...
Badla rates show modest increase KARACHI, June 4: The weighted average carryover rates on the Karachi stock market last week showed a modest increase of 60 basis points at 11.4 per cent as compared to 10.8...		Karachi Port operations KARACHI, June 4: Three ships carrying general cargo, containers and steel are expected to arrive at the outer anchorage on Sunday, according to KPT sources. Berthing activity at the wharves was...
Gold medal for KPT KARACHI, June 4: The International Association of Ports and Harbours (IAPH) have awarded the Karachi Port Trust (KPT) a gold medal on its development programme for 2003-04. The chairman, KPT, Admiral...		US economy WASHINGTON, June 4: US President George W. Bush on Saturday said the US economy “is on the right track,” but he urged Congress to take action on “four key priorities” to...