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| June 11, 2008 | Wednesday | Jamadi-us-Sani 06, 1429 |
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Tax-to-GDP ratio stands at 10pc
ISLAMABAD, June 10: Pakistan’s tax revenue to GDP ratio stood at only 10 per cent during 2007-08 compared to an average of 18 per cent for other developing countries, says Economic Survey 2007-08.... 
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Economy presents bleak picture
KARACHI, June 10: The irresponsible macro-economic management in a period of political instability and challenging external factors moderated the pace of economic growth in the country from targeted 7.2...
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Telecom sector generates Rs100bn
ISLAMABAD, June 10: Telecom sector remains a major source of revenue generation for the government as Rs100.5 billion were collected in the form of taxes, duties and regulatory charges during the previous year, the Economic Survey 2007-08 said....
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Sukuk holding limit for SLR raised to 7pc
KARACHI, June 10: The State Bank of Pakistan has raised the limit of Sukuk holding for SLR purposes from 5 per cent to 7 per cent and also declared Term Finance Certificates (TFC) of electric companies acceptable for the same purpose....
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Meals and deals!
KARACHI, June 10: Belying the belief that in the cold calculating world of high finance, there is no place for compassion; the Karachi Stock Exchange has announced that the stockbrokers have set out to feed the hungry....
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Stamp duty revenue to fall by Rs1.4bn
KARACHI, June 10: Stamp duty collection is likely to suffer a shortfall of Rs1,471 million during the current fiscal year against a target of Rs5,500 million....
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Only 4 crops get all benefits
KARACHI, June 10: No reason was mentioned in the Economic Survey as to why all successive governments had been focusing on only four major crops, which collectively accounts for one third of the entire agriculture sector.However,...
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Transport contributes 10pc to GDP
ISLAMABAD, June 10: The transport and communications sector accounts for about 10 per cent of GDP and 22 per cent of Gross Fixed Capital Formation in the outgoing financial year, according to Economic Survey 2007-08....
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MCC’s collection up by 47pc
KARACHI, June 10: The Model Customs Collectorate (MCC) collected Rs37.662 billion customs duty during the first 11 months (July-May) of 2007-08 compared to Rs25.583 billion collected in the corresponding period last year, showing a growth of 47 per cent....
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KSE shows 3.7pc growth
ISLAMABAD, June 10: The Karachi Stock Exchange (KSE) 100-index recorded a stunted growth of just 3.7pc during FY07-08, compared with a 23pc growth last year, the Economic Survey revealed....
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New EU chemical rule
KARACHI, June 10: The European Union has introduced a new chemical regulation known as Reach (registration, evaluation, authorisation and restriction). It will progressively replace the existing 40 chemicals regulations and directives...
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Stocks shed 30.19 points on budget eve
KARACHI, June 10: The market on Tuesday remained unsettled amid conflicting rumours about fiscal steps in the budget and political tensions but managed to finish well above the session’s lows on late flurry of buy-stops at the dips on selected counters....
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Cotton market lacks lustre
KARACHI, June 10: Cotton market on Tuesday lacked normal trading interest as spinners and mills remained conspicuous by their absence owing partly to higher asking prices by the ginners....
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Karachi Port operations
KARACHI, June 10: Five ships carrying containers and to load cement and clinker are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....
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IEA trims oil demand
LONDON, June 10: World oil demand will rise at its slowest pace in six years during 2008 as a raft of fuel subsidy cuts in Asia erodes consumption, the International Energy Agency said on Tuesday....
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Port Qasim
KARACHI, June 10: Four ships scheduled to load/offload containers, rice, chemicals and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Tuesday....
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Saudi talks call seen as bid to shift oil price blame
KUWAIT CITY, June 10: A call by oil powerhouse Saudi Arabia for a meeting between producers and consumers to discuss the root causes of record high crude prices is aimed at...
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Russia biggest oil producer
PARIS, June 10: Russia is the biggest oil producer in the world, extracting 10.08 million barrels per day last year ahead of Saudi Arabia pumping 8.48...
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Meeting on 22nd
PARIS: Saudi Arabia is to host a meeting of oil producers and consumers on June 22, Opec Secretary General Abdalla El-Badri told AFP on Tuesday....
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Asian stocks tumble on oil concerns
HONG KONG, June 10: Asian stocks fell sharply on Tuesday amid concerns soaring oil prices will stoke inflation, with Shanghai suffering its worst slump in a year after China’s central bank tightened credit conditions....
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Palm oil off 3.6pc
KUALA LUMPUR, June 10: Malaysian crude palm oil futures fell 3.6 per cent on Tuesday as dismal overseas demand and a build-up in supplies at home dragged down the market from near-two week highs hit the day before....
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Gold prices lower in Europe
LONDON, June 10: Gold extended losses in Europe on Tuesday as the US dollar firmed on speculation an increased focus on inflation by the Federal Reserve may lead to a hike in US interest rates later this year....
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