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Updated round-the-clock, with a major update before 10:00 PST (05:00 GMT)
Tax cut proposed to boost investment
ISLAMABAD, June 6: The government has proposed to scale down customs duty to zero per cent on raw materials and machinery of export-oriented industries, reduce duty on cars, exempt 319 edible items from duties and reduce customs duty on import of life-saving drugs. Through the finance bill 2005-6, the government has proposed to reduce customs duty on vitamins to five per cent from 10 per cent to give a boost to poultry industry. At present, cars in CBU (completely built-up units) condition....
PSDP goes up by 34.7pc to Rs272bn
ISLAMABAD, June 6: The Public Sector Development Programme (PSDP) for the 2005-06 fiscal unfolded by the Minister of State for Finance and Planning Omar Ayub Khan in the National Assembly on...
15pc hike in pay, 10pc in pension
ISLAMABAD, June 6: The government has announced new relief measures in the budget for financial year 2005-6, including increase in salaries and pension of government employees, which will come into effect...
Budget without NFC award termed illegal
ISLAMABAD, June 6: The opposition parties have termed the federal budget for 2005-06 ‘unconstitutional and illegal’ as it has been presented without finalizing the National Finance Commission award....
PM disputes claims on poverty level
ISLAMABAD, June 6: Prime Minister Shaukat Aziz on Monday rejected as incorrect claims of poverty rise in Pakistan and described the new fiscal budget for 2005-06 as people-friendly,...
Pakistan hopeful of Kashmiris’ role in dialogue
ISLAMABAD, June 6: The foreign ministry on Monday expressed the hope that talks between leaders from the valley in the Indian-held Kashmir and political leaders of Azad Kashmir as well as...
16 killed in Kashmir violence
SRINAGAR, June 6: Mujahideen shot dead five people while Indian troops killed eleven militants in separate clashes in the past two days in occupied Kashmir, police said on Monday....
PTCL workers threaten strike
ISLAMABAD, June 6: The Pakistan Telecommunication Company Workers’ Action Committee on Monday gave a 24-hour deadline to the management to announce a package of over Rs3 billion for the employees and...
US toughens law on asylum
WASHINGTON, June 6: A new immigration law, enacted on May 11, makes it difficult for people to seek asylum in the United States and gives law -enforcement agencies more power to...
WI 38 for one as rain stops play
KINGSTON (Jamaica), June 6: Bad light suspended play before tea on the fourth day of the second and final Test between Pakistan and West Indies in Jamaica on Monday....
ISLAMABAD, June 6: The government on Monday presented in the National Assembly what it termed a relief-oriented and investment-friendly budget for 2005-06 with a total outlay of nearly Rs1.1 trillion, a...
ISLAMABAD, June 6: Islamabad and New Delhi on Monday formed a joint working group to get the Iran-Pakistan-India gas pipeline project “off the ground”....
