TOKYO, Mar 2: Japan plan, lo outline It* new economic package in late March to appease growing calls from other leading industrial nations to boost tts flagging economy, a press report said Monday, says AFT'

The Group-of Seven meet Ing in London on Saturday urged Japan to stimulate domestic demand In a way to slash its huge trade surplus, the Jlji press quoted conference and G7 sources as saying.

The Japanese government intends lo officially unveil the outline of the package after parliament passes a state bud get for the fiscal year begin ning on April 1, Jtjl quoted

government sources as saying.

The budget is expected lo go through the ruling party dominated House of Repre-sentatlves this week although opposition parties, which control the House of Councillors, were seeking to enforce tax cuts as well

The package will supplement Japan s 10.7 trillion yen (90 billion dollar) set of pump-priming measures, which was announced In August, and may smooth out a US-Japan summit expected to be held in mid April

Finance Minister Yoshiro Hayashi hinted that Japan had come under pressure at the G7 meeting of finance ministers

and central bankers to reduce its trade surplus which lopped 1OO billion dollar in 1992.

It Is natural for those with a deficit to make demand* lo those with a surplus.' I layashi commented at the lower hous< committee on Ihc G7 meeting

Meanwhile. Prime Minister Kite hl Miyazawa continued to snub an opposition demand for lax cuts of 4.26 trillion yen (36 billion dollar) -- mainly a reduction tn the countiy's tn come tax — lo be covered by defiett financing bond*

It is necessary to examine various problems related to an Income taxcut such ns Ils cf fectlvencss and financial source." Miyazawa said