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May 9, 2002 Thursday Safar 25, 1423 4 firms in run for CBR revamping bid ISLAMABAD, May 8: The government will select one of the four international consulting firms who have sent their bids for the implementation of tax administration restructuring plan.... Business sees slump in trade activities KARACHI, May 8: Business leaders have foreseen a slump setting in trade activities again following the Wednesday suicide bombing in the city that claimed a dozen lives, including nine Frenchmen and... Rs59.17bn paid to exporters in 10 months ISLAMABAD, May 8: The Central Board of Revenue has paid Rs59.17 billion refund/rebate to exporters during the July- April period of the current financial year against Rs42.6 billion it paid during... Competition Ord 2002 in final stages ISLAMABAD, May 8: The government has decided to repeal the Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance 1970 to establish Competition Commission of Pakistan (CCP) in view of emerging... Decline in major crops hits GDP target ISLAMABAD, May 8: The unanticipated reduced agricultural production specially rice and wheat crops has marred the hopes of achieving 3.5 per cent GDP growth rate during 2001-2002.... Sigma Leasing Corporation: CORPORATE PROFILE KARACHI, May 8: The Board of Directors of Sigma Leasing Corporation Limited announced on Tuesday that it proposed to issue 5 million right shares at Rs 7 each.... Shaukat leaves for China ISLAMABAD, May 8: Minister for Finance Shaukat Aziz left here on Wednesday for Shanghai to attend the annual meeting of the Board of Governors of the Asian Development Bank (ADB).... Bomb blast sends stock market reeling KARACHI, May 8: The KSE 100-share index plunged 3 per cent or 55 points on panic-selling triggered by reports of early morning suicide bomb attack near a local hotel killing over... Minister seeks incentives for NWFP car makers PESHAWAR, May 8: Expressing his views about the lackadaisical approach of the Pakistan car assemblers and the negative posture of certain vested interests against the import of used cars, the NWFP... Slow trading on cotton market KARACHI, May 8: Physical trading on the cotton market on Wednesday was relatively slow as spinners again withdrew to the sidelines after Tuesday’s hurricane buying at the dips amid fears of... Asian interest rates to remain low SINGAPORE, May 8: Asian interest rates should stay at their current lows until late this year despite hikes in Australia and South Korea as economic recovery remains fragile, economists said on... Pakistan, Turkey to enhance trade ISLAMABAD, May 8: Pakistan and Turkey have agreed to expand scope of their cooperation for increasing bilateral trade and utilize all means including providing customs facilities to each others specially for... PTA against export duty on finished leather KARACHI, May 8: Pakistan Tanners Association (PTA) has taken strong exception to the demand made by the leather garment manufacturers and exporters of imposing a duty on export of tanned leather... PSO saves $850,000 in fuel oil import KARACHI, May 8: The Pakistan State Oil (PSO) has saved $850,000 foreign exchange in import of 275,000 tons HSFO and 75,000 tons of LSFO.... Investment in African countries LAHORE, May 8: Pakistan’s ambassador to Libya has urged businessmen to invest in African countries to promote bilateral trade.... Palm oil futures higher KUALA LUMPUR, May 8: Malaysian palm oil futures ended higher on Wednesday due to a technical rebound and gains in Chicago Board of Trade soyaoil futures, traders said.... Sri Lanka tea prices weak COLOMBO, May 8: Sri Lanka tea prices were soft at the latest auction due to a seasonal drop in quality in high and medium grown teas, brokers said on Tuesday.... Karachi Port operations KARACHI, May 8: Two ships carrying containers and to load molasses are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Al-Baraka to invest Rs1bn LAHORE, May 8: Al-Baraka Islamic Investment Bank plans to open more branches in various cities of Pakistan with an investment of Rs1 billion this year and next year.... Oil discovered CHAKWAL, May 8: Pakistan Oilfields has made a huge oil discovery near village Balkassar and explored the new well of H-2 in this area....

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