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March 19, 2002 Tuesday Muharram 4, 1423 Engg sector saving $3.2 billion forex ISLAMABAD, March 18: The Engineering sector is currently saving $3.2 billion foreign exchange, which would be increased manifold with the better “Engineering Vision”.... President to meet small businessmen KARACHI, March 18: President Gen Pervez Musharraf is to meet small and medium size businessmen to have first hand information about their problems, official sources said.... Kabul prefers India, Iran: Drugs import PESHAWAR, March 18: The local pharmaceutical industry is, apparently, losing initiative to enhance its market share in Afghanistan due to policy curbs applied by the anti-Pakistan elements in the interim Afghan... CBR framing tax rules for IT Ord 2001 KARACHI, March 18: The Central Board of Revenue is presently framing tax rules for the Income Tax Ordinance 2001, which is to be implemented from July 1, 2002.... Banks to get $318m FCY deposits back KARACHI, March 18: From next month the State Bank would start returning to the banks more than $318 million foreign currency deposits that they had placed with the SBP and got... Church attack pushes index down by 26 points KARACHI, March 18: The stock market on Monday resumed on an easy note as jobbers indulged in hasty selling, fearing a political fallout of the terrorist attack on Islamabad church. The... 6.63pc rise in crude oil import ISLAMABAD, March 18: Pakistan imported nearly 4.86 million tons of petroleum crude during the period July-February 2001-02 — 6.63 per cent more than the same period of previous year.... Remittances reach $1.3bn in 8 months KARACHI, March 18: Overseas Pakistanis sent back home a little more than $1.3 billion during the first eight months of this fiscal year (July 2001-February 2002). In the same period of... Shell awards HSD tender KARACHI, March 18: Shell Pakistan Limited (SPL) has awarded the high speed diesel (HSD) tender to three international companies for the supply of 385,000 tons in April-June.... Tax collection falls short of target: July-Feb ISLAMABAD, March 18: Despite thrice downward revision in the annual tax target, the revenue receipts fell short by 21.11 per cent to Rs27.61 billion against the target of Rs35 billion in... Firm trading on cotton market KARACHI, March 18: Cotton market opened on a firm note on Monday as despite higher arrivals of phutti into the ginneries prices maintained their upward trend followed by active mill demand.... Govt urged to promote exports SIALKOT, March 18: Sialkot Chamber of Commerce and Industry (SCCI) has urged the government to introduce some long-term trade policies for the promotion of export culture in the country.... SECP for no curbs on investment in associated co ISLAMABAD, March 18: There will be no restriction on the amount of investment a company may make in an associated company or companies under the amendments in company laws suggested recently... HK group posts record profit HONG KONG, March 18: Noble group of Hong Kong announced a record profit of $23.5 million during the year ended December 31, 2001, according to a press release of the company.... UK inflation seen moderating LONDON, March 18: The biggest one-month jump in Britain’s inflation rate for over 10 years in January has added some uncertainty to Tuesday’s inflation data, but most economists expect price rises... Dollar up against yen TOKYO, March 18: The dollar rose against the yen on Monday as confidence in a US economic recovery grew and Japanese stock prices sagged, dealers said.... Malaysian palm oil prices up KUALA LUMPUR, March 18: Malaysian crude palm oil futures relinquished earlier gains on profit-taking and disappointment over slow imports by India, China and Pakistan, traders said on Monday.... Rs255 million loans disbursed KARACHI, March 18: Khushhali Bank has disbursed about Rs255 million to the needy people and our recovery rate is 100 per cent, said Ghalib Nishtar, President of the bank, while speaking... SPI shows increase ISLAMABAD, March 18: The Sensitive Price Indicator (SPI) for the week ended on March 14, registered an increase of 0.15 per cent over the corresponding week.... Surcharge waived ISLAMABAD, March 18: The Central Board of Revenue has waived two per cent penal surcharge on over-storing of imports consignments lying in the government warehouses....

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