KSE made EAC member for input on CGT levy
The finance ministry has included Karachi Stock Exchange (KSE) as member of the Economic Advisory Council (EAC) for reaching some understanding on levy of capital gain tax (CGT) on the stock markets, incorporating inputs of brokers and KSE board of directors during the budget preparation exercise more... (BR)

Budget to be pro-poor, business friendly: Zardari
The Co-Chairman Pakistan Peoples Party Asif Ali Zardari says the next budget will be pro-poor and business friendly and they will continue negotiations for strengthening of democracy. He was speaking at a reception hosted by Mian Manzoor Ahmad Wattoo in Islamabad on Thursday during which Wattoo along with his supporters announced to join the PPP more... (BR)

External debt at peak level of $44.59 billion
The country's external debt witnessed a rise of over 5.5 billion dollars to hit a new peak of some 44.59 billion dollars during the current fiscal year mainly due to rising current account deficit. As per Fiscal Responsibility and Debt Limitation Act, 2005, the government has to reduce its foreign debt by 2.5 percent every year and current year it should be 24.5 percent of GDP from 27 percent more... (BR)

Military rule causes polarisation: PM
Prime Minister Syed Yousuf Raza Gilani has blamed an ‘unholy alliance’ in the military leadership and a class of politicians, bureaucrats and affluent members of the civil society for the gloomy state of affairs in the country more... (D)

Rumours and denials galore: Bigwigs gather at Presidency dinner
Rumours that President Pervez Musharraf is on his way out took the country by storm on Thursday, severely affecting the public and commercial life more... (D)

Zardari asks Musharraf to quit before June 10
President's aide Tariq Aziz is said to have delivered an important message of PPP co-chairman Asif Ali Zardari to Pervez Musharraf. According to Aaj TV, Zardari, through his message, has demanded of the President to quit before June 10 more... (BR)

Investors rise in protest against stocks meltdown
Investors at the Karachi Stock Exchange rose in protest at mid-day on Thursday against the incessant meltdown in stock prices more.... (D)

Oil prices plunge in volatile trading
Oil prices fell sharply in volatile trade on Thursday after getting an initial boost on news of plunging energy stockpiles in key consumer the United States more... (D)

Import of secondary steel products: FBR agrees to cut duty by 10 percent
The Federal Board of Revenue (FBR) has agreed to a proposal of the Engineering Development Board (EDB) to reduce customs duty on import of secondary products of steel by 10 percent in the next budget and abolish one percent special excise duty, it was learnt more... (BR)