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June 13, 2002 Thursday Rabi-us-Sani 1, 1423 SBP sees over 3pc GDP growth: Third quarterly report issued KARACHI, June 12: In a somewhat cautious optimism, the State Bank of Pakistan expects the GDP growth in the current fiscal year to ‘comfortably’ exceed 3 per cent mark supported by... Phutti price fixed at Rs800 per 40kg ISLAMABAD June 12: The government has fixed the price of seed cotton (phutti) grade III at Rs800 per 40 kg against the current year’s price of Rs780 per 40 kg and... State Bank wants public investment raised by 20pc KARACHI, June 12: The State Bank of Pakistan has suggested the government to accelerate the pace of public investment and “raise it by at least 20 per cent” in the forthcoming... KSE index rises by 46pc in 3rd quarter KARACHI, June 12: Sharp rise of 46 per cent in equity index; increase in foreign portfolio investment; slower corporate debt market and a bevy of reforms were the salient features of... Stocks suffer fresh pruning KARACHI, June 12: Stocks on Wednesday suffered fresh pruning on the blue chip counters, but bears failed to tilt the balance in their favour thanks to the presence of support at... Price flare-up likely KARACHI, June 12: The State Bank expects a price flare up in the coming months due to higher monetary expansion coupled with increasing energy prices after all the three price indices... Inflation soars by 4.15pc in 11 months ISLAMABAD, June 12: Inflation based on Consumer Price Index (CPI) soared by 4.15 per cent during the period July-May of 2001-02 compared to the same period of previous year, says the... Revenue target Enhanced taxes on POL fail to cover shortfall KARACHI, June 12: The increase in petroleum development levy (PDL) by Rs0.75 per litre and Rs0.25 per litre increase in the tax on other petroleum products could not help in overcoming... NWFP yet to get Rs4.2bn hydel profit PESHAWAR, June 12: With the current financial year is about to end, the NWFP is yet to get over Rs4.2 billion on account of net hydel profit from Water and Power... Enron episode haunts financial markets WASHINGTON, June 12: The International Monetary Fund said on Wednesday concerns over the quality of corporate profits in the aftermath of the Enron failure is the main risk to an otherwise... CBR unable to collect more than Rs400bn ISLAMABAD, June 12: The tax authorities have conceded that they would not be able to collect more than Rs400 billion by the end of this fiscal year against the target of... Euro hits 18-month high as dollar falls out of favour LONDON, June 12: The euro topped $0.95 on Wednesday for the first time for 18-months as sentiment soured again towards the US unit, fuelling speculation that the euro-zone unit might regain... European stock markets slump LONDON, June 12: European stocks slumped on Wednesday towards recent eight-month low points, as the rollercoaster ride on US equity markets continued amid concerns over stock valuations, the global economic outlook... Malaysian palm oil prices lower KUALA LUMPUR, June 12: Malaysian crude palm oil futures ignored friendly official May crop data and ended lower on Wednesday as players booked profits from Tuesday’s rally ahead of exports figures... Indonesia signs new pact with IMF JAKARTA, June 12: Indonesia said on Wednesday it has signed a new agreement with the International Monetary Fund (IMF) after promising to cut its budget deficit, push ahead with the sale... An overview of SBP third quarterly report KARACHI, June 12: The State Bank of Pakistan on Wednesday released third quarterly report for 2001-2002. Following is the text of overview of the report:... Prices maintain upward drive on cotton market KARACHI, June 12: Cotton prices on Wednesday maintained their upward drive for the third session in a row as those spinners holding short positions were not inclined to take even a... Indian stocks marginally lower MUMBAI, June 12: Share prices closed 0.5 per cent lower Wednesday on the Bombay Stock Exchange on moderate profit-taking after recent gains triggered by easing India-Pakistan tensions, dealers said.... Oil prices rebound LONDON, June 12: Oil prices rebounded slightly on Wednesday following the release of supportive statistics on US inventory levels, and further violence in the Middle East.... Amendments to HSN in budget ISLAMABAD, June 12: The government will announce amendments to the Harmonized System Nomenclature (HSN) during the upcoming budget....

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