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| May 8, 2002 | Wednesday | Safar 24, 1423 |
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Govt repays Rs22bn KESC loans
KARACHI, May 7: The government on Monday repaid on behalf of Karachi Electric Supply Corporation Rs22 billion to a number of banks that had lent to cash-strapped KESC.... 
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NWFP plans to levy ‘fuel toll tax’: User charges to go up in next budget
PESHAWAR, May 7: The NWFP government is likely to introduce a new type of user charges in shape of ‘fuel toll tax’, which would be charged over and above the price...
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IMF review for third tranche under way: CBR briefing today
ISLAMABAD, May 7: The Central Board of Revenue (CBR) will be briefing here on Wednesday the visiting technical team of International Monetary Fund (IMF) on tax administration restructuring....
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SSGC launches Rs1.25bn TFCs
KARACHI, May 7: The Sui Southern Gas Company (SSGC) on Tuesday signed agreement with consortium of banks for launch of its 5-year tenor second Term Finance Certificate worth Rs1,250 million....
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Duty exemptions, RD to go
ISLAMABAD, May 7: The government has decided to do away with all time-bound exemptions and regulatory import duties without further extension....
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Pakistan EuroBonds price rises to $1
ISLAMABAD, May 7: The price of Pakistan EuroBonds has risen from $0.60 to $1 between December 1999 and May 7, 2002 — an increase of 67 per cent, claims an official...
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Oil Prices slump
LONDON, May 7: Oil prices slumped here on Tuesday as the market braced itself for the resumption of Iraqi oil exports after a month-long stoppage, a move that will ramp up...
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Pak-Kuwait AGM endorses dividend
KARACHI, May 7: The 23rd Annual General Meeting of Pakistan Kuwait Investment Company Limited (Pak Kuwait) was held on May 6 which was attended by Abdulazim M.A. Al-Shamali, representing Kuwait Investment...
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Working group formed
KARACHI, May 7: A meeting between officials of the Auditor General of Pakistan and the Institute of Cost and Management Accountants of Pakistan (ICMAP) held in Islamabad on Tuesday discussed areas...
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IDB okays $388m new financing
RIYADH, May 7: The Islamic Development Bank (IDB) said it has approved Islamic financing facilities worth $388 million for its member states....
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Revival of sick units
PESHAWAR, May 7: The Corporate and Industrial Restructuring Committee (CIRC) would decide cases of sick industrial units on the basis of principal amount or force sale value....
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Heavy selling brings index down by 39 points
KARACHI, May 7: Stocks on Tuesday fell across the board as heavy selling in most of the pivotals at the inflated levels pushed the entire market into a deeper recession. The...
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Asia told to boost corporate governance
KUALA LUMPUR, May 7: Asia must improve its corporate governance standards to face the challenges of globalisation and to win over foreign investors, officials said on Tuesday....
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Cotton prices fall sharply on panic selling
KARACHI, May 7: Cotton prices on Tuesday fell sharply as ginners indulged in near-panic selling disappointed apparently by larger unsold stocks and falling mill demand....
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EPB assures benefit to small exporters
SIALKOT, May 7: Export Promotion Bureau chairman Tariq Ikram on Tuesday said the bureau had improved the provision of infrastructure, laws and other requirements to benefit the exporting community....
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Pakistan, China border trade yet to resume
GILGIT, May 7: Trade and tourism activities between the Northern Areas of Pakistan and Chinese province of Xingiang are yet to resume given the delay in signing the fresh agreement to...
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Dollar rebounds against yen
TOKYO, May 7: The dollar bounced back against the yen in late trading here Tuesday on short covering after comments by Japanese officials on possible intervention, dealers said....
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Malaysian palm oil higher
KUALA LUMPUR, May 7: Malaysian palm oil futures firmed at the close on Tuesday, aided by a technical rebound and short covering on the physical side, traders said....
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Palm oil imports seen picking up
KARACHI, May 7: Palm oil prices in Pakistan remained firm during the past week on buoyant local demand, with traders looking to boost stocks on reports of falling palm oil production...
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E-commerce risks: IFAC guidelines
KARACHI, May 7: The International Federation of Accountants (IFAC) has issued new international guidance to help auditors address the e-commerce risks....
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