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| June 06, 2006 | Tuesday | Jumadi-ul-Awwal 9, 1427 |
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CVT raise dampener for stock business
KARACHI, June 5: The increase in capital value tax (CVT) from 0.01 per cent to 0.02 per cent was invariably considered as an unwise proposal by stock brokers, analysts and investors.... 
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Tax on property to have little impact
KARACHI, June 5: Market analysts and real estate dealers on Monday gave a mixed reaction over the levy of two per cent capital value tax (CVT) on the value of land measuring 500 yards....
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Govt reverses its policy of free market
KARACHI, June 5: The government hitherto a strong preacher of free market economy decided on Monday to intervene into market affairs with administrative tools and devised a strategy to check the exploitation by the advocates of free market....
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Profit-making banks spared from tax
KARACHI, June 5: Instead of checking banks against profiteering at the cost of depositors, the government has decided to extract more from the public. State Minister for Finance Omar Ayub Khan...
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7pc GDP growth, 6.5pc inflation anticipated
ISLAMABAD, June 5: The government has projected real GDP growth target for the fiscal year 2006-07 at 7pc while inflation rate at 6.5pc as against the average of 8pc recorded in the outgoing year....
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Oil price climbs to $73
WASHINGTON, June 5: World oil prices surged above $73 a barrel on Monday despite US assurances that Iran could not carry out its threat to disrupt oil movements in the Persian Gulf....
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Revenue collection target raised to Rs835bn
ISLAMABAD, June 5: The government on Monday increased the revenue collection target by 18.6 per cent to Rs835 billion for the fiscal year 2006-07 as against the revised target of Rs704 billion for 2005-06....
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Budget ignores trade, industry
KARACHI, June 5: Business leaders were taken aback when Minister of State for Finance Umer Ayub Khan suddenly concluded his budget speech in the National Assembly on Monday without giving details...
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Stocks finish with clipped gains
KARACHI, June 5: Trading on the stock market on Monday resumed on a cautious note as the pre-budget session did not show violent either-way movement as investors were not inclined to...
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HK gold
HONG KONG, June 5: Hong Kong gold prices closed markedly higher on Monday at $643.00-643.50 an ounce, up on Friday’s close of $627.60-628.10. The market opened at $639.00-639.50.—AFP...
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Flat income rates proposed on gross income
ISLAMABAD, June 5: The government has proposed flat rates for taxing gross income of salaried and non-salaried taxpayers in the budget 2006-07 besides special tax concessions for women taxpayers....
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Customs duty on 5 sectors waived: TBS introduced
ISLAMABAD, June 5: The government has exempted customs duty on five sectors and introduced new Tariff Based System (TBS) for automobile sector. It has also rationalised duty on raw materials used...
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WT rates on some goods, services rationalised
ISLAMABAD, June 5: The government on Monday rationalised rates of withholding taxes on various goods and services, exempted various kinds of machinery from income tax and reduced the age limit for seeking exemptions of the senior citizens....
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Prices stay firm on cotton market
KARACHI, June 5: Cotton market on Monday finished on a firm note despite the absence of spinners and mills ahead of the federal budget which was announced later in the evening....
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Karachi Port operations
KARACHI, June 5: Five ships carrying containers, project cargo and to load ethanol are expected to arrive at the outer anchorage on Tuesday, according to KPT sources....
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Palm oil prices higher
KUALA LUMPUR, June 5: Malaysian crude palm oil futures ended higher in slow trade on Monday as players waited for clearer market direction, dealers said. The benchmark third-month August contract on...
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