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| June 10, 2007 | Sunday | Jamadi-ul-Awwal 24, 1428 |
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Reliance on indirect taxes to fuel inflation
LAHORE, June 9: The government’s increased reliance on indirect taxes, as indicated by the measures like imposition of 1 per cent surcharge on all imports proposed in the finance bill for... 
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Reserves cross $15bn
KARACHI, June 9: The country’s foreign exchange reserves crossed $15 billion mark after the inclusion of latest inflows of the Euro Bonds....
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Text of budget speech for 2007-08
ISLAMABAD, June 9: State Minister for Finance Omar Ayub Khan presented the budget for next fiscal year 2007-08 in the parliament here on Saturday. Following is the text of his budget...
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Subsidy on DAP fertilizers increased
ISLAMABAD, June 9: The government here on Saturday announced 20 per cent subsidy on electricity charges for tubewells and increased subsidy on DAP fertilisers from the existing Rs400 per bag to Rs470....
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A balancing act for the stock market
Karachi, June 9: “Robbing Peter to pay Paul” is how the government went about performing a balancing act for the stock market. None of those fears materialised regarding levy of heavy...
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Additional tax burden may offset concessions
KARACHI, June 9: Difficult to measure, but the budget 2007-08 presented on Saturday has opened up a debate whether the relief and concessions outweigh additional taxation or it is otherwise....
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Withholding tax on incomes rationalised
ISLAMABAD, June 9: The government has rationalised rate of withholding tax on various incomes and introduced separate schedule for banking....
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Exporters criticise new tax measures
KARACHI, June 9: Exporters have expressed displeasure over the 2007-08 budget proposals and feel that it totally lacks measures to support the dwindling export trade and make it competitive in the world market....
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Budget lacks incentives for export industry
KARACHI, June 9: Industrialists and businessmen offered divergent views on the budget 2007-08 as some termed it a politically motivated document focusing more on controlling food inflation and steps to promote...
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FED relief on POL products
ISLAMABAD, June 9: The government has exempted federal excise duty (FED) on POL products and cable operators....
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7.20pc GDP growth and 6.2pc inflation projected
ISLAMABAD, June 9: The government has projected the Gross Domestic Product (GDP) growth target for the next fiscal year 2007-08 at 7.2pc against the current 7pc while inflation rate at 6.5pc...
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Sales tax rates rationalised
ISLAMABAD, June 9: The government has rationalised sales tax rates, removed irritants and reduced the cost of doing business....
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Government claims on employment, poverty questioned
KARACHI, June 9: It was not easy to digest the tall claim of the government that it created 10 million jobs while it failed to justify why still over 37 million...
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Budget fears mar trading on cotton market
KARACHI, June 9: Budget uncertainties dominated the trading on the cotton market on Saturday as both buyers and sellers awaited tax relief and incentives for the textile sector....
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Dollar firm
NEW YORK, June 9: The dollar firmed against the other major currencies Friday as US trade data showed a surprisingly shrinking deficit that reinforced the notion of stronger growth that could mean higher interest rates..
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Customs duty reduced on 400 tariff lines
ISLAMABAD, June 9: The government on Saturday reduced customs duty on more than 400 tariff lines of raw materials and machinery, introduced a zero tariff slabs in customs tariff and announced a package of incentives for the textile industry....
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