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| June 15, 2002 | Saturday | Rabi-us-Sani 3, 1423 |
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Rs8 billion subsidy to refineries to go
ISLAMABAD, June 14: The government has decided to withdraw Rs8 billion subsidy to the oil refineries in a three-year phased programme, starting fiscal year 2002-03.... 
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Banks, DFIs boards made more effective: SBP fresh guidelines
KARACHI, June 14: The State Bank on Friday issued a set of fresh guidelines for the boards of directors of the banks and the financial institutions to improve the prevailing corporate...
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CBR notifies new rules for account book
ISLAMABAD, June 14: The Central Board of Revenue (CBR) has notified new rules for maintaining proper books of account, documents and records of income derived from businesses or profession by all...
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Interest-based, Riba-free system to run parallel: Ishrat opens online banking
KARACHI, June 14: State Bank Governor Dr Ishrat Hussain on Friday said the interest-based prevailing system and Riba-free banking mode would run parallel, leaving the onus of elimination of interest-based system...
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Bomb blast intercepts pre-budget rally on KSE
KARACHI, June 14: A bomb blast close to the US consulate on Friday, killing nine persons and injuring many others, intercepted the market’s pre-budget rally as investors hastened to off-load long...
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Blast casts gloom on business
KARACHI, June 14: The bomb blast in front of US Consulate raised serious concerns among the foreigners as well as local businessmen....
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Only 323 software houses operating
KARACHI, June 14: Only 323 out of total 664 (SWHs) registered houses are operating, while 211 are closed. As many as 86 are not traceable because of wrong addresses or shifting...
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Reserves touch $6.12bn mark
KARACHI, June 14: Pakistan’s foreign exchange reserves exceeded $6 billion figure on Friday for the first time in over 50 years following the release of $500 million World Bank loan....
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Dollar falls against yen, euro
LONDON, June 14: The dollar was hit hard on Friday, falling half a per cent against the yen and to within a whisker of 17-month lows against the euro, as futures...
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Pakistan unable to find new export markets: Japan, China & Africa
ISLAMABAD, June 14: Pakistan is facing difficulties in finding out new export markets in Japan, China, Africa and Latin America, says Minister for Commerce Abdul Razak Dawood....
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Price bull-run to sustain on cotton market
KARACHI, June 14: Cotton prices on Friday rose further as spinners and mills remained active buyers around the current levels amid predictions of continued bull-run until the new crop arrives....
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NWFP 3-year budget plan sees rise in deficit
PESHAWAR, June 14: The NWFP government in its three-year medium term budgetary framework (MTBF) is anticipating a constant rise in its fiscal deficit....
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Cos fined for not holding AGM
ISLAMABAD, June 14: The Securities & Exchange Commission of Pakistan (SECP) has initiated prosecution proceedings against as many as 29 companies for failure to hold AGM and present their annual, half-yearly...
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Reseller
KARACHI, June 14: Microsoft Pakistan has appointed Asiasoft as its first reseller for Afghanistan, says a press release....
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PICIC rating upgraded
LAHORE, June 14: Pakistan Credit Rating Agency has upgraded PICIC’s long-term and short-term ratings to “A” (single A) and “A1” (A one), respectively....
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Palm oil firmer
KUALA LUMPUR, June 14: Malaysian crude palm oil futures closed firmer on Friday, recouping all of their Thursday’s losses as the market tracked overnight gains in Chicago soyoil futures....
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US steel duty exemptions ‘positive’
BERLIN, June 14: German Economy Minister Werner Mueller welcomed on Friday a US decision to exempt some German steel products from hefty import duties but said it did not go far...
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Indian rupee ends flat
MUMBAI, June 14: The rupee finished flat on Friday, rising from lows after corporate dollar buying, which has dragged the Indian unit down since mid-week, petered out....
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Karachi Port operations
KARACHI, June 14: Nine ships including an oil tanker carrying 12,000 tons of soyabean oil are due to arrive at the outer anchorage on Saturday, according to KPT sources....
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Rs40bn fresh taxes likely in budget
ISLAMABAD, June 14: Fresh taxation of Rs30-40 billion is being envisaged in the new federal budget by imposing 15 per cent GST on vegetable ghee and cooking oil, increase of 5...
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