InfoAnda - Pakistan budget seen having little impact on stocks

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

U.S. men's release awaits return of Iran judge: lawyer | | 20 September 2011
Environmentally Friendly Washer Uses Plastic And One Cup Of Water To Clean | 24 June 2009
U.S. women's soccer team opens World Cup with win | 29 June 2011

Landmine 'kills eight Pakistani troops' | 12 November 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : Pakistan budget seen having little impact on stocks

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Pakistan budget seen having little impact on stocks Reuters - Monday, June 15 By Sahar Ahmed ADVERTISEMENT ISLAMABAD, June 14 - Pakistan's budget for the 2009/10 fiscal year is likely to have little impact on the stock market despite a new tax on the services sector, dealers said on Sunday. Unveiling the budget in parliament on Saturday, Minister of State for Finance Hina Rabbani Khar said the government aimed to boost gross domestic product growth to 3.3 percent in the fiscal year beginning on July 1 from an expected 2 percent this year. The economy is being kept afloat by a $7.6 billion bail-out by the International Monetary Fund agreed in November and more than a third of Pakistan's 170 million people are living in poverty. Adviser to the prime minister on finance Shaukat Tarin said on Sunday "the measures taken are to revive the economy but with a human face". But the macro-economic targets for the new fiscal year seem ambitious, analysts said, warning of problems if foreign funds, which the government is depending on to meet its goals, do not materialise. In announcing several new taxes, Khar said a 16 percent federal excise duty would be charged on fees charged by banks, stock brokers, insurance companies and ports. That is projected to raise 16 billion rupees ($197.4 million). However, a member of the government's economic advisory council told Reuters that the government decided to remove a 0.02 percent capital value tax on the purchase of shares while imposing the new tax on brokers' commissions. "In view of the new sales tax on stock brokers' commissions, the government has decided to abolish the CVT on the purchase of shares," said Sakib Sherani, a member of the government's economic advisory council. FRAGILE MARKET The decision to remove the capital value tax and instead charge the excise duty on commissions would have little impact on the stock market, dealers said. "The affect of the FED on brokers' commission will be neutralised by the removal of CVT," said Asif Qureshi, director at Invisor Securities Ltd. Dealers said there may be a neutral to negative impact on the banking and insurance sector following the announcement to impose the 16 percent excise duty on the fees they charge. The Karachi stock market benchmark index <.KSE> has risen 20.4 percent this year, after a 58.3 percent drop in 2008. But dealers said it is still a fragile market, with worry about security clouding the outlook in the medium- to long-term. Nuclear-armed Pakistan, a major Western ally, is fighting Islamist militancy and is also trying to revive an economy in virtual recession. Separately, a wave of violence between rival political factions is sweeping the country's biggest city and financial capital Karachi. The KSE-index ended 0.46 percent, or 32.48 points, lower at 7,059.48 on turnover of about 107 million shares on Friday. De facto finance minister Tarin said he was confident that foreign funds would come, adding that $4.8 billion had come in this year from multilateral agencies and another $4 billion was expected next year. The Friends of Pakistan group of allies and donors is expected to provide funding worth $5.28 billion over the next two years, he said. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business Global says bond holders agree to extend maturityReuters - 2 hours 24 minutes ago Pfizer eyes deals to raise emerging mkts presenceReuters - 2 hours 25 minutes ago HIGHLIGHTS-Comments from Italy G8 finmins meetingReuters - 2 hours 31 minutes ago Lloyds to take 450 mln stg hit on pubs loan -paperReuters - 2 hours 32 minutes ago PREVIEW-Israel yr/yr inflation seen easing to 2.7 pct in MayReuters - Monday, June 15 Most Popular – Business Viewed Earth-Venus smash-up possible in 3.5 billion years: study Dumped mattress lands cash in trash in Israel Obama signs note for girl who played hooky to see him Paris bailiffs chase Saudi princess for unpaid bills Luanda is world's most expensive expat city: survey View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Sunday, 14 June 2009
US Embassy: 2 more US contractors released in Iraq
Berlusconi denounces 'subversive' smear campaign
Clashes erupt in Iran over disputed election
Queen Elizabeth II celebrates official birthday
Saudi's Kingdom hires Emaar for kilometre-high skyscraper
Iraqi leaders rally after murder of Sunni lawmaker
Paris bailiffs chase Saudi princess for unpaid bills
G8 finance chiefs dampen recovery hopes
Venezuela TV channel urges Chavez talks | International |
New Moroccan party wins most local election seats | International |
Berlusconi complains of subversive campaign | International |
6,000 climate activists rally in Australia
N Korea vows to build more nuclear bombs after UN sanction
Bachchans take early honours at 'Bollywood Oscars'
AP Interview: Detainee move to Palau is tentative
Sheriff: Arizona home invaders wanted all dead
Clinton praises new UN tools against North Korea
North Korea issues nuclear threats
Calif kids quarantined in China over flu scare
Backers mourn cleric; Taliban claim fatal attacks
U.S. firm accuses China of stealing software: report | Technology |
American student grilled in Italy sex-murder trial
NKorea: Will never give up nuclear ambitions
Baxter in 'full production' of swine flu vaccine
4 years in Afghanistan, Turks suffer only 1 attack
White House keeps close watch on Iran campaign
Pakistan's Zardari vows to fight 'until the end'
Lejeune water study finds no definite disease link
Pakistan says 41 militants killed in NW offensive
Trail to commemorate 'Long Walk' divides tribes
Afghan ballots to have 41 candidates for president
Museum experts ID birds that bring down planes
Inmate reporters are pen men with a difference
US says no recovery, 'too early' to cut stimulus
Pakistan unveils deficit budget, ups defence spend
Pakistan's 09/10 budget shows dependence on friends
G8 finance chiefs see 'signs of stabilisation'
Kapoor dismisses 'Slumdog' criticism
Could Palin flap be Letterman's Hugh Grant?
Fighting the war on terror with outsourcing
Communism propaganda exhibit brings Bulgarians smiles
Tanya Tucker reconnects with fans at CMA festival
Venezuela Bans Coke Zero Citing Drink's Danger To Health
Judge Acquits "Phony Toni" Of Fooling Songstress Braxton Fans
Missouri Family Shocked To Find Their Photo In Prague Ad
Miss California USA Carrie Prejean Stripped Of Crown
Heather Graham Wants To "Get Naked" At "The Hangover's" London Premiere
Mariah Carey Insists On Recording Her New Album Only At Night
Iran cracks down on reformists after vote sparks riots
Paris bailiffs chase Saudi princess for unpaid bills
U.S. company accuses China of stealing software
Ahmadinejad's victory greeted by Tehran protests | International |
Britain to unveil Iraq inquiry this week: reports
Former senior minister killed in Ingushetia: report
SNC-Lavalin bags 1.1 bln dlr contract in Algeria
US switches to all-digital TV
Ahmadinejad's victory greeted by Tehran protests
Netanyahu to outline Israel's policies in speech | International |
Doomed Air France flight crashed suddenly: experts
Tribal fighters attack south Sudan food barges
Gul, Parnell gatecrash T20 batting paradise
Mobile phones, Facebook, YouTube cut in Iran
Koenigsegg co-owner confident of saving Saab: report
Tribal fighters attack South Sudan food barges | International |
Israel's foreign minister sees threat in Iran vote
Mobile phones, Facebook, YouTube cut in Iran
GOP says Democrats' climate bill is another tax
FBI: Holocaust Museum suspect expected to survive
Sotomayor impresses in interviews, senators say
Pilot of small plane dies in crash at NH resort
Hiker falls to his death from Yosemite's Half Dome
Obama looks to relocate Gitmo detainees overseas
Bill Clinton: United States growing more diverse
Student charged with keeping teachers from grading
Malaysian opposition party reforms voting rules
800,000 callers phone digital TV hot line
Weather forecast for the Asia-Pacific region
US military deaths in Iraq war at 4,312
Mixed-marriage love story tops 'Bollywood Oscars'
Product Recall: Soft Mexican-style cheese
Myanmar dismisses EU concerns over Karen refugees
China confirms 22 more cases of swine flu
'Drunk' Cahill kicked out of nightclub
Coach backs Gower's shaky Italian rugby debut
NKorea's Kim praises military amid nuclear moves
French inflict further injury pain on All Blacks
Analysis: NKorean nuclear moves tied to succession
Hundreds honor David Carradine at funeral
G8 talks turn spotlight on Europe's banks
Shape up for investors, Africa told at WEF
Emerging big four economies flaunt power at summit
Nestle expanding in SEAsia despite crisis: CEO
Bollywood's Jodhaa Akbar wins at Indian film awards | Entertainment |
Hundreds honor David Carradine at funeral
In rare fest appearance, the Boss plays Bonnaroo
US-ENTERTAINMENT Summary
Bollywood's Jodhaa Akbar wins at Indian film awards
Thousands join gay pride parades in Europe
'Jodhaa Akbar' dominates Bollywood awards
Somali Islamists issue blanket ban on movies
Netanyahu could use Iran vote in policy speech
Two policemen killed in Chechnya: report
Two killed in clash in Turkey's Kurdish southeast
Netanyahu set to deliver peace policy speech | International |
Most Israelis could live with a nuclear Iran: poll | International |
Netanyahu set to deliver peace policy speech
Blast in Pakistan market kills 8; U.S. drone strikes | International |
Taliban raids increase, plan to disrupt Afghan poll: government | International |
Israeli PM to unveil Mideast peace policy
Yemen says arrests Saudi financer of al Qaeda | International |
Madagascar's government quits crisis talks | International |
Iran leading reformist says more than 100 arrested
South Sudan river ambush kills at least 40: official | International |
Netanyahu unlikely to back Palestinian state: observers
Airbus urges patience on crash, says A330 safe | International |
Belarus-Russia rift widens, Minsk snubs Moscow meet | International |
Obama eyes tighter controls on banks, Wall Street
PROMISES, PROMISES: Indian health care's victims
Hiroshima mayor 'fury' over N.Korea nuclear plans
Truckdriver dies in fiery Calif. freeway crash
The Nation's Weather
Blast in Pakistan market kills 8
Pakistan: Suspected US missile, bomb kill 13
Christian Albin, 'culinary Rip van Winkle,' dies
Swine flu cases jump in Thailand, New Zealand
Authorities: teen arrested in Fla. cat mutilations
5,000 cabbies strike in NW China
Orthodox Jews launch kosher search engine | Technology |
Pakistan blast kills eight
Australia set to raise swine flu alert level
NKorea warns of nuclear war amid rising tensions
Afghan gov't: No control in 5 districts in Helmand
Vietnam arrests defender of pro-democracy activists
Pakistan budget seen having little impact on stocks
Triumph the Insult Comic Dog skewers Bonnaroo
China's first gay pride festival closes
Malawi father drops fight to stop Madonna adoption | Entertainment |
'Best job' Brit 'no whingeing Pom'
Radford plans Spanish civil war movie
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01