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February 2, 2002 Saturday Ziqa’ad 18, 1422 World Bank to finance NWFP fiscal gap PESHAWAR, Feb 1: The World Bank is likely to extend a $200 million soft loan this fiscal to NWFP. The loan is aimed at bridging the provincial fiscal gap.... Decentralization fails to improve revenues PESHAWAR, Feb 1: Decentralization of revenue collection as part of the devolution of power plan, introduced on August 14 last, could not yield impressive results, at least, during the first five... Prices of ghee, cooking oil move up by Rs2 KARACHI, Feb 1: The increase in prices of sugar, ghee, cooking oil and egg in last one month has offset the impact of relief for consumers in other items like pulses... SBP repo window opens to DFIs, investment banks KARACHI, Feb 1: The investment banks and development financial institutions (DFIs) can now borrow money for up to three days from the State Bank of Pakistan. Till now this facility was... PQA raises draught KARACHI, Feb 1: The Port Qasim Authority (PQA) has enhanced the permissible draught by 0.5 meter to 11.5 meters, to be effective from second week of this month.... PTCL signs deal with Chinese firm ISLAMABAD, Feb 1: Pakistan Telecommunication Company Ltd (PTCL) on Friday singed accord with Chinese company Huawei Technologies Corporation for enhancement of its fiber optic cable capacity by equipping it with 10... Non-listed cos Default period extended by one year ISLAMABAD, Feb 1: The Securities and Exchange Commission of Pakistan (SECP) has provided further relaxation of one year to non-listed and private companies to regularize their default in filing of statutory... Shaukat for New York to attend WEF meeting ISLAMABAD, Feb 1: Finance Minister Shaukat Aziz left here on Thursday night for New York to attend the three-day World Economic Forum’s Annual Meeting, official sources said.... Pakistan to hold fair in Tripoli KARACHI, Feb 1: Pakistan will hold a single country trade exhibition in Tripoli in June this year. The fair is aimed at capturing Libyan market.... Shell invests $22.3m in SPL KARACHI, Feb 1: Shell Petroleum Company Limited, UK, has invested $22.3 million in Shell Pakistan Limited (SPL) by purchasing additional shares.... Fresh buying in pivotals sends index up by 50 points KARACHI, Feb 1: Stocks remained in a bullish frame of mind on Friday as heavy fresh buying in the pivotals, notably PSO ahead of its privatization kept bears out, allowing the... Cement firms get 2,500 tons export order from Kabul KARACHI, Feb 1: Cement industries expect a sharp pick-up in demand from Afghanistan, and have already received several large export orders, industry officials said on Friday.... Spinners make active covering purchases KARACHI, Feb 1: Cotton prices on Friday remained stable at the previous levels as spinners and some of the leading textile groups again made active covering purchases against their forward sales.... Core spun yarn makers allowed drawback ISLAMABAD, Feb 1: The government has allowed duty drawback facility to manufacturers of core spun yarn with lycra.... Adil Mufti quits General Tyres KARACHI, Feb 1: Dr Adil Mufti, a senior corporate leader has relinquished his charge as the Chief Executive of the General Tyres on Friday and has joined Dun and Bradstreet in... Karachi Port operations KARACHI, Feb 1: Berthing activity at the Karachi Port was maintained on the higher side on Friday thanks to steady arrivals and as a result all the newcomers were toed to... Export finance: PCMA flays condition KARACHI, Feb 1: Pakistan Cloth Merchants’ Association (PCMA) chairman Abid Chinoy welcomed the restoration of financing facility for grey cloth exporters, but regretted the price condition of above $3 per square... Tokyo stocks slump TOKYO, Feb 1: Asian stocks had a patchy session on Friday with most markets ignoring a perky Wall Street as Tokyo dived to its worst close since September.... Oil prices up LONDON, Feb 1: Oil prices turned higher on Friday after an explosion at a Kuwaiti plant threatening output disruptions, while possible strike action at US refineries further upset the market.... Indonesian exports JAKARTA, Feb 1: Indonesian exports fell 9.8 per cent in 2001, the biggest percentage slump in 12 years, the Central Bureau of Statistics said on Friday....

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