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February 15, 2002 Friday Zilhaj 2, 1422 IMF agrees to Rs14.9bn cut in tax target ISLAMABAD, Feb 14: The International Monetary Fund has asked the Central Board of Revenue to collect Rs207.71 billion in the next five months (February-June) of the current financial year to achieve... Hubco declares 40pc cash dividend KARACHI, Feb 14: The Hub Power Company Limited (Hubco) announced on Thursday, interim cash dividend at 40 per cent or Rs4 per share, which was almost twice as good as most... PSO suffers Rs620m loss in six months ISLAMABAD, Feb 14: Notwithstanding a saving of $527 million to Pakistan, the falling international oil prices have caused a net loss of Rs620 million to Pakistan State Oil (PSO) during the... Inflation rises in seven months ISLAMABAD, Feb 14: Inflation rate based on Sensitive Price Indicator (SPI), Consumer Price Index (CPI) and Wholesale Price Index (WPI) during the first seven months of this fiscal, July-January 2001-2002, surged... Strong buying sends index up by 56 points KARACHI, Feb 14: Stocks on Thursday staged a broad recovery on strong buying at the lower levels aided by an enhanced interim dividend of 40 per cent by the Hub-Power management.... Lint buying KARACHI, Feb 14: The Trading Corporation of Pakistan (TCP) on Thursday signed contracts for the purchase of 4,900 bales from the centres of Sukkur, Rahim Yar Khan, Bahawalpur, Haroonabad, Multan, Dera... Ordinance soon to improve trade KARACHI, Feb 14: The government is in the process of promulgating an ordinance to give effect to its policies for the improvement of trade and transportation.... Privatization as ‘single entity’ ISLAMABAD, Feb 14: The government has decided to privatize Pakistan State Oil (PSO) as a “single entity” within this year.... CED levied on ship plates ISLAMABAD, Feb 14: The government has levied central excise duty on import of ship plates at a rate of Rs500 per ton.... PIA earns Rs300m profit KARACHI, Feb 14: The overall performance of Pakistan International Airlines, particularly its financial position during the second half of last year was reviewed by PIAC’s Board of Directors here on Thursday.... Cotton market lacks lustre KARACHI, Feb 14: Quieter conditions prevailed on cotton market as spinners and mills again adhered to the sidelines apparently assessing the impact of TCP procurement operations on the price line.... EC reviewing dumping measures: Indian bedlinen KARACHI, Feb 14: The European Commission (EC) has initiated interim review of the anti-dumping measures on imports of cotton-type bedlinen from India, trade sources in Karachi said.... Turkish team ISLAMABAD, Feb 14: A 16-member delegation, led by Turkish ministers Sukru Sina Gurel and Prof. Dr. Suayip Usenmez, currently on a visit to Pakistan will hold a meeting with Privatization Minister... Bank Alfalah profit up KARACHI, Feb 14: Bank Alfalah Ltd. posted an after-tax profit of Rs310 million in year 2001 up from Rs215 million in 2000.... Euro stocks gain ground LONDON, Feb 14: European share prices moved further ahead on Thursday, shoring up gains from the previous session as they tracked US markets higher and took heart from some fair corporate... Oil price climbs LONDON, Feb 14: The price of oil climbed here on Thursday in response to a warning from US President George W. Bush that he would keep “all options available” for dealing... Karachi Port operations KARACHI, Feb 14: Two ships including a car carrier with 96 units are due to arrive at the outer anchorage on Friday, according to KPT sources.... MFN status LAHORE, Feb 14: The European Union and Northern America Free Trade (Nafta) nations must accord the “most favoured nation” (MFN) status to Pakistan to help it revive its economy that has...