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March 23, 2002 Saturday Muharram 8, 1423 74pc KESC shares being sold in Sept KARACHI, March 22: Federal minister for Privatization Altaf Saleem on Friday said that 74 per cent of KESC shares are being sold in September to an investor who would pump around... Govt may reduce tax on petrol ISLAMABAD, March 22: The government is expected to reduce taxation on petrol (motor spirit) and increase on diesel fuel oil (DFO) under a new petroleum policy to be announced next month.... Inter-bank market wallows in liquidity: Borrowers suffer KARACHI, March 22: The inter-bank market has been excessively liquid these days but corporate borrowers should not expect that they will get cheaper credit from the banks.... Gas sale accord signed ISLAMABAD, March 22: The government on Friday signed a gas sales agreement with Sawan Joint Venture for the sale of 170 mmcfd of gas that is expected to provide a saving... Gwadar port to open business opportunities KARACHI, March 22: With a population of less than 50,000, the small sleepy town Gwadar on Mekran Coast is now set on way to become a hub of shipping, commercial and... Record number of 402 shares traded on stock market KARACHI, March 22: A record number of 402 shares were traded on the stock market on Friday as investors opted for the undervalued and low-priced scrips from the high-profile ones amid... India dumps infested chillies in Pakistan ISLAMABAD, March 22: Ministry of Commerce has asked the Central Board of Revenue to investigate on priority basis the import of infested chillies from India and stop the release of consignments... Subsidies may go from next fiscal KARACHI, March 22: The Federal Privatization Minister Altaf Saleem hinted on Friday of elimination of subsidies in the next budget as a part of structural changes programme in the national economy... Shell offloading management staff KARACHI, March 22: Shell Pakistan Limited (SPL) has decided to offload its permanent and confirmed management staff as a part of its on-going review of business in Pakistan.... 20pc duty: PTA opposed to demand KARACHI, March 22: The Pakistan Tanners Association has taken exception to the leather garment manufacturers demand for imposing a 20 per cent duty on export of leather.... Shaukat seeks debt relief for developing states: Financing moot ISLAMABAD, March 22: Finance Minister, Shaukat Aziz has urged the developed countries to enhance Official Development Assistance (ODA), remove trade barriers against the product of the developing countries and provide debt... Prices rise on cotton market KARACHI, March 22: Cotton prices on Friday soared to new seasonal peak level as ginners further raised their asking prices followed by reports of higher export orders for the textile goods.... Removal of tax on bonus shares notified ISLAMABAD, March 22: The Central Board of Revenue (CBR) has notified abolishing of withholding tax on bonus shares.... Duty relief for pharma industry: SRO amended ISLAMABAD, March 22: The Central Board of Revenue (CBR) has notified exemption of customs duty in excess of five per cent ad valorem on import of raw materials for the basic... Karachi Port operations KARACHI, March 22: Six ships carrying containers an general cargo are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Yen falls LONDON, March 22: The yen sank to two-week lows against the dollar and four-week lows against the euro on Friday as traders bet that recent flows into Japanese assets would reverse...

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