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May 21, 2002 Tuesday Rabi-ul-Awwal 8,1423 Medicines worth Rs400m lying at port: Dispute over 15pc GST KARACHI, May 20: Large consignments of imported drugs and medicines worth over Rs400 million have been lying at the port for last two months over a dispute of payment of 15... Stocks crash on war fear: Index loses 132.5 points KARACHI, May 20: Stocks on Monday crashed under the weight of mounting panic unloadings as fears of an imminent Indian attack gripped the market followed by free-for-all, which pushed the KSE... KSE board scurries to put floor under fall KARACHI, May 20: The 132 points plunge in stock index — the heaviest fall post-Kargil — sent the board of Karachi Stock Exchange scurrying to put floor under a further fall.... TV industry fears losing Rs3bn investment: Zero rate import KARACHI, May 20: The local television industry is up in arms against a possible government move to include television import at zero rate duty in the Afghan Transit Trade (ATT) agreement,... Important transactions in few months ISLAMABAD, May 20: President Pervez Musharraf has emphasized the importance of privatization as a reform programme and directed that for the continuity of the process, a long-term vision and strategy should... Rupee up in inter-bank; holds firm in kerb KARACHI, May 20: Whereas the stocks crashed heavily on Monday on news of Indian aggression near Pakistan borders the rupee managed to hold firm — both in the inter-bank and open... ADBP recovers Rs22bn in 10 months LAHORE, May 20: The Agriculture Development Bank of Pakistan (ADBP) has shown six per cent growth in the recovery of its loans during the first 10 months of the current fiscal... PTA to issue Rs1bn right shares KARACHI, May 20: Pakistan PTA Limited told the stock exchange on Monday that the company had received approval of the Securities and Exchange Commission of Pakistan to issue one billion right... NWFP further revises farm IT target PESHAWAR, May 20: The NWFP government has revised downward its annual receipts target for the second time during the current financial year under the agriculture income tax and land tax heads... TCP tender KARACHI, May 20: The Trading Corporation of Pakistan (TCP) has floated a tender for the export of 23,000 bales of cotton from current crop.... Banks folly belittles liquidity injection KARACHI, May 20: The State Bank injected Rs7.25 billion into the inter-bank market on Monday but the injection was too small to satiate the cash-strapped banks. So they resorted to a... High price, low stocks hit rice exports KARACHI, May 20: High domestic prices and depleting stocks kept the rice exports under pressure in the past week and are likely to keep business dull in coming weeks, dealers said... NWFP losing business to Punjab traders: Afghan markets PESHAWAR, May 20: The low-priced items manufactured in Punjab are fast capturing the consumer markets of Afghanistan due to their higher competitive value against the goods produced in NWFP.... Private sector help sought in port projects ISLAMABAD, May 20: Steps are under way to obtain the cooperation of private sector in development projects of Karachi Port Trust and Port Qasim Authority.... PBEA for token penalties KARACHI, May 20: Chairman Pakistan Bedwear Exporters Association (PBEA) Shabir Ahmed has urged the Sindh government to charge token penalties for regularizing excess construction area in exporting industrial establishment.... United Fund KARACHI, May 20: An open-end mutual fund “United Money Market Fund” is shortly to be launched by the United Assets Management Company Limited — a wholly owned subsidiary of United Executors... Agreement KARACHI, May 20: Muslim Commercial Bank on Monday signed another agreement with Agfa Geveart Pakistan Ltd in respect of its product Cashplus, facilitating collection of funds through its branch network across... War fear grips cotton market KARACHI, May 20: The increasing tension on the borders and fears of war with India kept buyers out of the market on Monday and as a result physical business remained at... Gold hits 27-month high on $ dive LONDON, May 20: Gold hit its highest level in 27 months on Monday as investors piled into the safe haven asset in face of a sick dollar and fears of renewed... Karachi Port operations KARACHI, May 20: Five ships carrying containers and rock phosphate and to load molasses are expected to arrive at the outer anchorage on Tuesday, according to KPT sources....

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