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March 04, 2008 Tuesday Safar 25, 1429 Only 4,600 corporate units pay income tax KARACHI, March 3: The chairman, Federal Board of Revenue (FBR), Abdullah Yousuf, has stated that of the 25,000 registered corporate taxpayers only 14,000 have filed tax returns this year.“While... Euro, gold, oil surge to record highs LONDON, March 3: The euro surged to a new high against the dollar on Monday, while gold and oil also struck records on a turbulent day for global financial markets....   July-Feb collection falls short of Rs25bn ISLAMABAD, March 3: The next coalition government, possibly led by the Pakistan People’s Party, is likely to face a massive revenue shortfall for the current fiscal year, raising fears of higher than expected budget deficit.... Cement prices up by Rs5-15 per 50kg KARACHI, March 3: While cement prices started climbing up in the market, retailers and dealers blame the manufacturers for the rates increase ahead of rising demand during March to June.... SECP to provide figures on daily basis: Portfolio investment KARACHI, March 3: The Securities and Exchange Commission of Pakistan (SECP) has decided to determine non-resident investors net flows in the local capital market on a daily basis and to pass... Customs new condition termed blow to exports KARACHI, March 3: The Federal Board of Revenue (FBR) has directed customs authorities to only accept cheques against custom duty, which carry assurance of ‘good for payment’ from banks for goods re-exported after processing.... Pakistan at 103rd on tourism index ISLAMABAD, March 3: The World Economic Forum (WEF) on Monday launched its annual Travel and Tourism Competitiveness Report 2008, in which Pakistan ranked at 103 out of 124 countries because of... Banks’ profit up despite odds KARACHI, March 3: Despite emergence of new banks, the monopoly of five large Pakistani banks in the banking sector further strengthened as their collective profits constituted over 80 per cent of the entire profits of the banking industry for 2007.... No sales tax on import of small tractors ISLAMABAD, March 3: The Federal Board of Revenue on Monday exempted sales tax on import and local supply of agriculture tractors below 35 HP.... Decision on Sukuk size this month KARACHI, March 3: Pakistan will issue a local currency Islamic bond, or sukuk, in the fiscal year ending on June 30, and the size and tenure is likely to be decided this month, officials said on Monday.... World stocks tumble LONDON, March 3: Global stock markets fell on Monday as weak economic data and downbeat comments from billionaire investor Warren Buffett led to renewed fears of a US recession, traders said.... Stocks get heavy battering as world bourses falter KARACHI, March 3: The share market on Monday fell across a broad front on near-panic selling partly in response to steep fall in world bourses amid renewed fears over the US... Dubai-based firm buys stake in Bosicor DUBAI, March 3: Dubai-based private equity company Abraaj Capital said on Monday it bought into Pakistani energy firm Bosicor to tap growing demand for petroleum products in the world’s sixth most-populous nation.... Conversion rates KARACHI: The following are March 4 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds.... Strong buying keeps cotton prices higher KARACHI, March 3: Cotton market maintained a bullish trend on Monday as prices were quoted further higher on strong mill buying in a brisk physical trading.... Karachi Port operations KARACHI, March 3: Six ships carrying containers and to load cement are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, March 3: Two ships carrying wheat and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Monday.... ‘Safta to be made more effective’ NEW DELHI, March 3: Saarc Chamber of Commerce & Industry President Tariq Sayeed says Safta would be made more effective to revive economic cooperation for free trade in the region.... Aptma plea KARACHI, March 3: The All-Pakistan Textile Mills Association (Aptma) has urged the government to cut petroleum development surcharge and sales tax on oil products to reduce their prices in the country.... Port Qasim capacity being raised KARACHI, March 3: Port Qasim Authority Chairman Rear Admiral Syed Afzal has said that 10 private sector projects were being implemented for capacity enhancement of the port.... Banks asked to monitor role of CEO, CFOs KARACHI, March 3: The State Bank of Pakistan on Monday asked the board of directors of banks and development finance institutions (DFIs) to clearly define the role and responsibilities of chief... SBP sells Rs1.5bn in 57-day repo KARACHI, March 3: The State Bank of Pakistan sold Rs1.5 billion in 57-day Treasury bills at 9.45 per cent to primary dealers on Monday in an outright sale, to mop up funds from the money market.... Asian stocks plunge on US recession fears HONG KONG, March 3: Asian stocks plunged on Monday with Tokyo ending down almost 4.5 per cent, battered by a slumping dollar and fears that the US economy is slipping into recession, dealers said.... Malaysian palm oil up KUALA LUMPUR, March 3: Malaysian crude palm oil futures climbed 8.2 per cent on Monday, the biggest increase in a single day, as supply concerns and speculative funds propelled global vegetable oil markets to new highs.... Eurozone inflation steady BRUSSELS, March 3: Inflation in the 15 nations sharing the euro held steady in February at a record 3.2 per cent, the Eurostat data agency said on Monday....

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