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ECC rejects hike in sales tax on sugar

ECC rejects hike in sales tax on sugar

Wednesday, June 9, 2010 19:33

ISLAMABAD: The Economic Coordination Committee (ECC) rejected on Tuesday proposals to increase by 25 per cent transportation charges for 400,000 tons of urea imported through Gwadar port and to double sales tax on sugar. The meeting, presided over by Finance Minister Dr Abdul Hafeez Shaikh, strongly criticised the ministry ...

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Pakistan Federal Budget 2010 - 2011

Pakistan Federal Budget 2010 – 2011

Wednesday, June 9, 2010 12:29

Budget speech for fiscal year 2010-11 Madam Speaker! Allow me to submit the highlights of taxation proposals for the year 2010-11. The tax measures being proposed by the government are fair, just and equitable guided by the principle of 'ability to pay' set in context of a war economy. Customs No customs ...

Shell Gas acquired by OPI for Rs500m

Shell Gas acquired by OPI for Rs500m

Tuesday, June 8, 2010 12:41

KARACHI: OPI Gas has won the bid to buy Shell Gas for around Rs500 million from its parent company, Shell Pakistan, according to sources familiar with the matter. OPI Gas bid of around Rs33 per share for 67.91 per cent shares of Shell Gas was accepted by Shell Pakistan, ...

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Rejected tax reforms plan made part of Finance Bill

Rejected tax reforms plan made part of Finance Bill

Monday, June 7, 2010 18:54

ISLAMABAD: In a smart move, the government has incorporated into the Finance Bill 2010 a key presidential ordinance for harmonisation of taxes that lost its legal life on June 5 and whose extension for 120 days was rejected by parliament a day before the announcement of federal budget ...

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Budget sets optimistic tax target

Budget sets optimistic tax target

Sunday, June 6, 2010 11:52

ISLAMABAD: The government announced on Saturday an overall consolidated budget of Rs3.259 trillion for 2010-11, including additional taxation measures of Rs133 billion, and offered some relief to the poor and salaried people. Pledging to increase tax revenue, pursue a tight fiscal policy, check inflation and protect economic recovery and ...

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Federal budget to be Rs 2.9 trillion in volume

Federal budget to be Rs 2.9 trillion in volume

Saturday, June 5, 2010 18:36

KARACHI: Sources on Friday revealed that the Federal Budget for 2010-11 will be Rs 2.9 trillion in volume. According to sources Rs 441 billion have been allocated for Defence, while the budget deficit will be 4 percent of the GDP. Sources also said that Rs 1660 billion has been set as the ...

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Economic recovery termed fragile

Economic recovery termed fragile

Saturday, June 5, 2010 12:19

ISLAMABAD: The government will pursue a guarded fiscal policy and try to restrict its spending during the next financial year in view of fragility of recent recovery, in spite of raising its growth projections for 2009-10 to 4.1 per cent from the earlier estimate of 3.3 per cent. “The recovery in ...

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Pak assures IMF of power tariffs hike

Pak assures IMF of power tariffs hike

Friday, June 4, 2010 10:53

ISLAMABAD: The Advisor to Prime Minister on Finance, Dr Abdul Hafeez Sheikh, and State Bank Governor Salim Raza have confirmed to the International Monetary Fund (IMF), in the May 3, 2010 Letter of Intent (LoI) submitted by the government to the IMF board, that electricity tariffs will be ...

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Margin Financing approved by law ministry

Margin Financing approved by law ministry

Thursday, June 3, 2010 19:57

KARACHI: The Ministry of Law had vetted the draft of ‘Margin Financing’ rules and delivered them to the Securities and Exchange Commission of Pakistan on Wednesday, SECP chairman Salman Ali Sheikh confirmed to Dawn. [caption id="attachment_2325" align="alignright" width="300" caption="Margin Financing approved by law ministry "]...

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SBP governor calls it quits

SBP governor calls it quits

Thursday, June 3, 2010 11:52

KARACHI: Governor State Bank of Pakistan (SBP) Syed Salim Raza has tendered his resignation, citing personal reasons, announced the Finance Division in a press release late on Wednesday. Coming just three days before the announcement of the federal budget 2010-11 on June 5, the resignation has given rise to ...

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