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Media watch: Taxing times
Media discusses the possibility of the the RGST and flood tax being implemented and its implications for the country.
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Stocks fall as investor interest turns sour
The Karachi Stock Exchange benchmark 100-share index ended 0.34 per cent or 36.7 points lower at 10,905.24.
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Government policy, business reality at odds
‘Pakistan market over-regulated and under-developed’.
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Trade deficit widens by 11.9% for July-October
Exports grow by 19 per cent, imports by 16 per cent.
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KAPCO removed from MSCI Pakistan Index
Foreign funds may offload their positions from the scrip.
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Sugar prices ease as supply resumes
Sugar prices recede for second day in a row throughout wholesale markets of the country.
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Draft exempts food, life-saving drugs, books
General Sales Tax Bill draft also excuses 184 textile units from paying sales tax on utilities.
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Remittances rise by 13% to $3.5b
Remittances continue to show a rising trend as a total of $3,501.4 million is received first 4 months of fiscal year.
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Car sales increase by 14 per cent
Higher demand despite rising prices leaves some analysts baffled.
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Emirates keen to expand business in Pakistan
Country contributes 12 per cent to airline’s regional revenue.
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Pakistan hits back on allegations of corruption
Some countries do not want to pledge money for reconstruction and they are using the corruption pretext.
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Inflation hovers above 15%
October figure suppressed because of drop in prices of perishables, trouble expected next month.
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National air-carrier confident of turnaround
PIA spokesperson Sultan Hassan says operational profits show that PIA can become self-reliant.
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EU capitals approve trade aid package for Pakistan
The package covers 75 Pakistani exports which will be allowed to enter the EU duty-free from 2011.
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Inflation rises over 14%
The Federal Bureau of Statistics says inflation rate for the first 4 months of current fiscal year is 14.17 per cent.
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Uproar over sugar price hike
Sugar prices continue to rise as the commodity is available for no less than Rs115 per kilogramme across the country.
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Holbrooke lauds RGST bill approval
US Special Envoy Richard Holbrooke says Washington supports proposed RGST bill, plans to reform tax system.
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PIA seeks state bail out to survive
PIA promises to make cutbacks and better its fleet in a bid to improve fortunes, if treasury agrees to cancel debt.
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Flood tax, RGST get cabinet nod
Federal cabinet approves bill to overhaul tax regime primarily to rebuild flood-hit areas.
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Sugar-starved Punjab to receive 10,000 tons daily
TCP to increase the supply of sugar to Punjab from 50,000 tons to 100,000 tons.
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Broad-based, fair and inclusive tax structure proposed
Pakistan Business Council launches National Business Agenda 2010.
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K-P seeks increase in profit share from hydropower
Province demanding an increase of 10 per cent on the initial Rs6 billion cap for the last eight years.
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Chinese bank to arrive soon
State Bank of Pakistan assures extension of support.
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Seven new trusts registered by PC
Stock option scheme gives employees of state-run units 12% of govt shares.
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India likely to free sugar exports soon
Move could push New York futures from 30-year highs by eliminating uncertainty over the exportable surplus.
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Trouble ahead for tobacco companies
Government to increase size of pictorial health warnings on cigarette packs, from the existing 30 to 50 per cent.
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Vegetable import from India allowed
Import of vegetables, including green chilli, capsicum, cabbage, ginger and carrot allowed through the Wagah border.
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KSE falls 50 points, fails to cross 11,000 again
The KSE-100 index fell 50.34 points, or 0.46 per cent, to close at 10,941.94 points.
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Licences of eight sugar mills revoked
Sindh ministry for industry sends strong message to polluters, land grabbers.
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Iranian restrictions may hit kinnow exports
Pakistan to lose out on 80,000-100,000 tons of exports if Iranian market remains closed.
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Cotton prices surge to all-time high
Brokers predict prices will touch Rs12,500; 5,000 workers laid off in 15 days.
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Dreams of a digital rockstar
Ahmed Hashim discusses his evolution from local metal band Messiah to digital marketing, Facebook and more.
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Islamabad seeks to transfer all of ministries’ liabilities as well
Finance ministry opposes delegation of ministries’ employees to federation’s surplus pool.
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Why Pakistan should increase holdings in gold
Since January 2007, forex reserves have moved from $12.87 billion to $16.77 billion in September this year.
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‘Sales tax on fertilisers to be catastrophic’
A 17 per cent sales tax on fertilisers will adversely affect wheat production.
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‘KESC will not use subsidy to buy furnace oil’
Utility official, union leader believe cash flow will never improve.
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Policy issued for shifting
OGRA issues policy for shifting CNG stations which have been closed down or affected by public sector constructions.
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Plastic is safe, more secure
The increase in debit card usage can be attributed to the deteriorating law and order situation.
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Online firms offer animal sacrifice services
Customers can even browse through pictures of the available animals online and make selections on the basis of weight.
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Deal with Singapore firm may be cancelled
Raisani pledges to challenge in court what he terms “one-sided” deal with Singapore-based company to run Gwadar Port.
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Wheat production target set at 25m tons
Local consumption assessed to be 23.5 million tons for next year as production target for rabi season 2010-11 is set.
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Fifth discovery of oil and gas at Tal block
3,200 barrels of oil, 11mmcfd of gas to be obtained by MOL Pakistan in Tal block in Kohat district.
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Businessmen berate govt for anti-growth policies
Fiscal and monetary policies killing industry, says former FPCCI president.
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Oil sales surge 34% as flood water recedes
Furnace oil and high speed diesel lead recovery as oil sales surge to 1.9 million
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Pakistan races the clock to table RGST
Islamabad decides to go solo to secure IMF tranche as federal and provincial secretaries' meeting remains fruitless.
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Stocks surge 110 points to 27-month peak
Soaring oil prices, foreign inflows, positive investors sentiment among the triggers.
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Hydropower policy to be taken up at CCI by K-P
Province demands increase in power charges, future hydro projects to be returned to provinces.
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Leave services to us, Sindh tells FBR
Sindh government decides to withdraw authority given to Federal Board of Revenue to collect sales tax on services.
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Plea for re-negotiating Reko Diq deal
SC requested to order federal and provincial govts to renegotiate Reko Diq mining contract.
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Commerce ministry accuses provinces of inaction
Prices continue to surge, retailing as high as Rs125 per kg.