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April 16, 2002 Tuesday Safar 2, 1423 $176.3m offered for 9 oil, gas fields ISLAMABAD, April 15: The Privatization Commission has received a total offer of $176.3 million from the highest bidders for the divestment of the government’s shareholding in nine oil & gas concessions.... Karachi Port to be made gateway for region: Container terminal project opened KARACHI, April 15: Federal Minister for Communications and Railways Lt-Gen (Retd) Javed Ashraf said on Monday that, with private sector collaboration, the government is determined to make the Karachi Port as... Corporate rehabilitation law on cards LAHORE, April 15: Foreign exchange reserves, presently touching $5.2 billion, are a matter of daily debit-credit balance sheet of the State Bank and, precisely for this reason, no one can fudge... Encashment of dollar bonds on the rise KARACHI, April 15: People encashed around $233 million special US dollar bonds between October 2001-February 2002 as they got a chance to earn 5 per cent premium on redemption of three-year... Direct tax system ISLAMABAD, April 15: The government has decided to set up direct tax system on functional basis in order to reduce the interaction between the taxpayers and tax collectors.... Investors take long positions in selected scrips KARACHI, April 15: Stocks opened the week on a higher note as investors continued to build up long positions on selected counters amid predictions of a sustained bull-run.... No change in POL prices KARACHI, April 15: The Oil Companies Advisory Committee (OCAC), for the second time, has kept the prices of petrol, diesel, HOBC, light diesel and kerosene “unchanged”.... ICCI chief seeks exchange of visits KARACHI, April 15: Secretary General, Islamic Chamber of Commerce and Industry (ICCI), Aqeel A. Al-Jassem has urged the businessmen of Islamic countries to bridge the information gap and have exchange of... Govt may procure 5.5m tons wheat ISLAMABAD, April 15: The Economic Coordination Committee, in its meeting on Tuesday, is likely to approve wheat procurement target of 5.5 million tons for this season. The Punjab would increase its... Great scope for Pakistan, China cooperation: Textile sector BEIJING, April 15: Pakistan and China can join hands to further develop their textile industry, increase export of garments and other cotton- based products, said a senior member of China’s Textile... Spinners lift quality lots on cotton market KARACHI, April 15: Physical business on cotton market on Monday remained modest as spinners continued to lift selected lots, the major thrust being on the fine lots.... Budget proposals Shaukat for promotion of investment ISLAMABAD, April 15: Finance Minister Shaukat Aziz has directed the Central Board of Revenue (CBR) that proposals for the next budget (2002-03) should focus on promotion of investment in the country.... Karachi Port operations KARACHI, April 15: Six ships carrying containers, general cargo and to load molasses are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Microsoft, APTECH sign pact KARACHI, April 15: Microsoft and APTECH on Monday signed an agreement to make Pakistan an important player in the Information Technology (IT) world.... Profits rise CHARLOTTE, N.C., April 15: Bank of America Corp., the No. 3 US banking company, on Monday posted a 17 per cent rise in quarterly profits as low interest rates cut the... Malaysian palm oil prices higher KUALA LUMPUR, April 15: Malaysian palm oil futures rallied after export estimates for the first half of April met trade expectations when they were issued on Monday, dealers said.... Indian gold demand rising MUMBAI, April 15: Gold demand in India, the world’s largest consumer, is likely to rise from the next week due to more buying for marriages, traders said on Monday.... Indian rupee MUMBAI, April 15: The rupee eased to a new closing low on Monday on dollar purchases by state-owned banks, which sometimes intervene on behalf of the central bank, and late buying...

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