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June 25, 2002 Tuesday Rabi-us-Sani 13, 1423 OMCs allowed to import HSD: Cost competition ISLAMABAD, June 24: The Economic Coordination Committee of the Cabinet (ECC) here on Monday approved the import of High Speed Diesel (HSD) by oil marketing companies on cost competition basis.... Rs9bn of Punjab ADP go to districts LAHORE, June 24: Punjab has provided Rs9 billion (inclusive of Khushhal Pakistan Programme) to the districts from its Rs20.750 billion annual development programme for the fiscal 2002-03.... RD on sugar import to rise by 10 per cent ISLAMABAD, June 24: The government has decided in principle to increase the regulatory duty on sugar import from 20 per cent to 30 per cent, informed sources told Dawn here on... Balochistan, NWFP to get less grants PESHAWAR, June 24: The federal government’s claim of having registered significant reduction in the inflation rate has impacted the financial conditions of NWFP and Balochistan after the size of special grants... SBP policy towards new foreign banks KARACHI, June 24: The new foreign banks wanting to enter the local market would be required to set up incorporated subsidiaries, according to the State Bank sources.... Punjab debt stands at Rs127.28bn LAHORE, June 24: The total quantum of outstanding debt of Punjab, as shown in the provincial budget for the fiscal year 2002- 2003, stood at Rs127.283 billion, showing an accumulation of... $ sheds 5 paisa in inter-bank KARACHI, June 24: The rupee gained five paisa against the US dollar in the inter-bank market on Monday. It closed at Rs60.03/ 60.05 per dollar for ready buying and selling against... KSE seeks tax cut for listed cos KARACHI, June 24: The Board of Directors of the Karachi Stock Exchange (KSE) has welcomed various budgetary proposals including the finalisation and approval of takeover law, but identified a few other... SLCL right issue gets approval KARACHI, June 24: The Security Leasing Corporation Limited stated that it had received approval of the Securities and Exchange Commission of Pakistan, to the proposed 50 per cent right issue.... Euro rises against dollar LONDON, June 24: The dollar remained under heavy pressure against other leading currencies after US stocks took another pounding as trading got underway on Wall Street.... Renewed war fears keep investors on sideline KARACHI, June 24: Stocks on Monday lacked normal trading interest as both leading investors and institutional traders adhered to the sidelines amid renewed fears of war with India followed by threatening... Low stocks, high prices halt rice exports KARACHI, June 24: Pakistani rice prices were firm during the past week due to good local demand, but traders said on Monday higher domestic prices and falling stocks had halted exports.... Cotton trading resumes on firm note KARACHI, June 24: Trading on the cotton market on Monday resumed on a firm note as spinners and exporters remained active buyers at the prevailing rates but physical business was slow.... London stocks at 9-month low LONDON, June 24: Britain’s FTSE 100 index closed at a fresh nine-month low on Monday, pressured by weak banking and drug shares as doubts about earnings prospects and the wider economic... FDPT online tracking system FAISALABAD, June 24: Faisalabad Dry Port Trust (FDPT) will introduce online tracking system for 24-hour monitoring of its bonded luggage carriers, from Faisalabad to Karachi Port.... Palm oil prices higher KUALA LUMPUR, June 24: The Malaysian crude palm oil futures market was waiting for June 1-25 exports data later this week which would provide players with fresh ideas about the appetite... Indian rupee firmer MUMBAI, June 24: The rupee ended firmer, hitting levels last seen in mid-April, as the weak dollar globally spurred heavy sales by exporters.... R&D award KARACHI, June 24: LG Electronics recently won the Research and Development Award for the year 2002. The ceremony was held at the Amoris Hall at the LG Kangnam Tower in South...

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