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February 14, 2002 Thursday Zilhaj 1, 1422 Large scale units to grow during January-June KARACHI, Feb 13: Mounting demands for food items, construction material and a host of other goods from Afghanistan is expected to improve the performance of large scale manufacturing in the second... SG may acquire 10pc stake in Al-Meezan Bank KARACHI, Feb 13: French bank Societe Generale (SG) is negotiating to acquire a 10-per cent stake in Pakistan’s first Islamic commercial bank, which is due to begin operating next month, an... Business concerns opening offices in Peshawar: Prospects in Afghanistan PESHAWAR, Feb 13: Sensing greater investment and trading prospects amidst high hopes of peace in Afghanistan, several Pakistani and international firms are setting up their offices in Peshawar.... CED payment mode amended ISLAMABAD, Feb 13: The government has brought about changes in the mode of payment of central excise duty on imported materials and its finished goods to avoid double taxation.... BBF, SSF decide merger KARACHI, Feb 13: The Board of Directors of BSJS Balanced Fund Limited (BBF) and Security Stock Fund Limited (SSF) have decided to merge the two companies, an announcement by BBF on... Local co keen to set up ghee mills in Kabul KARACHI, Feb 13: A leading group of companies is interested in setting up a cooking oil and ghee making plant in Afghanistan with facilities to manufacture soap as well.... Sugar price soars by Rs2 per kg KARACHI, Feb 13: The retail price of sugar has surged by Rs2 per kg in the last 10 days to Rs23 from Rs21 per kg.... Revenues fall short by 6pc of target: July-Jan ISLAMABAD, Feb 13: The revenue receipts fell short by 6.03 per cent of Rs220.6 billion target to Rs207.29 billion during the first seven months of the current financial year.... Supply by same person: withholding tax abolished ISLAMABAD, Feb 13: The government has abolished withholding tax on supply of the goods provided these were imported by same person.... Travellers cheques KARACHI, Feb 13: The State Bank has allowed banks to issue foreign currency travellers cheques to Pakistanis as well as foreign nationals provided they surrender equivalent amount of foreign exchange in... Index plunges by 5pc on panic unloadings KARACHI, Feb 13: Stocks on Wednesday plunged by about 5 per cent on panic unloadings prompted by a spate of negative rumours including defaults and compliance notices in regard to members... Berlin averts EU reprimand: Budget deficit BRUSSELS, Feb 13: European Union finance ministers formally ended rebuke procedures on Germany’s widening budget deficit on Tuesday saying their skillfully-forged political deal would not hurt the euro.... Dull trading on cotton market KARACHI, Feb 13: Cotton market on Wednesday lacked normal trading interest as spinners were conspicuous by their absence apparently having an overview of price situation after the entry of the Trading... Karachi Port operations KARACHI, Feb 13: Berthing activity at the Karachi Port on Wednesday was maintained on the higher side where nine ships were berthed including an oil tanker to offload palm oil.... CED on hydraulic cement waived ISLAMABAD, Feb 13: The government has exempted central excise duty on import of hydraulic cement.... Asian stocks mixed TOKYO, Feb 13: Asian stock markets put in another mixed day’s performance on Wednesday, although many remained closed for Chinese New Year holidays.... Oil price steady LONDON, Feb 13: The price of oil steady here on Wednesday despite figures showing that the recent rise in US crude stock levels continues unabated.... Solvent oil: duty structure ISLAMABAD, Feb 13: The government has clarified duty structure on local supply of solvent oil.... Industrial plots HARIPUR, Feb 13: The executive body of Haripur Chamber of Commerce & Industry has condemned increase in the prices of industrial plots at Hattar Industrial Estate and termed the decision of... Job cuts LONDON, Feb 13: British Airways said on Wednesday it was axing 5,800 more jobs and slashing 10 routes in a bid to reverse mounting losses triggered by the September 11 hijackings...

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