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July 2, 2002 Tuesday Rabi-us-Sani 20,1423 Ghee, cooking oil, poultry become dearer KARACHI, July 1: The new budget has not caused any major shake up in the prices of essential commodities except for increase in rates of ghee and cooking oil. While the... Pakistan Steel pays Rs2.28bn to banks: Second instalment KARACHI, July 1: Pakistan Steel on Monday made a payment of Rs2.28 billion to banks as second instalment due for fiscal 2001-02 against restructured loans.... State Bank changes criteria for director: Banks, DFIs board KARACHI, July 1: The State Bank of Pakistan has changed the instructions issued earlier on January 1 this year on ineligibility of the stock brokers, those associated with money changing business... ‘Revenue collection to surpass Rs400bn’ KARACHI, July 1: The total revenue collection for July-June 2001-02 will surpass Rs400 billion mark.... ADBP’s restructuring plan KARACHI, July 1: The Agricultural Development Bank of Pakistan (ADBP) has engaged Tasir Hadi Khalid & Co. to have an in-depth assessment of three completed fiscal years of loans, equity and... SBP to continue supervising NBFIs Karachi, July 1: The State Bank said here on Monday that non- bank financial institutions (NBFIs) would continue to be regulated by it till further orders.... WorldCom defaults on part of debt WASHINGTON, July 1: WorldCom said on Monday it had defaulted on two unsecured credit facilities worth a total of 4.25 billion dollars.... Dawood for Morocco to attend JMC ISLAMABAD, July 1: Minister for Commerce, Industries and Production, Abdul Razak Dawood left here for Morocco on Monday to attend Joint Ministerial Commission being held at Rabat from July 2.... Gold price slips LONDON, July 1: Gold prices slipped to six-week lows in Europe on Monday as a stronger US dollar, bolstered by central bank interventions late last week, and firmer stock markets dimmed... Euro zigzags LONDON, July 1: The euro zigzagged towards parity against the dollar on Monday on a groundswell of concern about the outlook for the US economy and corporate world after a string... Pakistan, Thailand to trade in own units ISLAMABAD, July 1: Pakistan and Thailand have agreed to start counter trade in their respective currencies for boosting bilateral trade, and proposed to form a rice exporting consortium of four Asian... NWFP dist govts to get Rs15bn under PFC PESHAWAR, July 1: The NWFP district governments would  get over Rs15 billion from Rs 46 billion total annual revenue receipts of the province during 2002-03 under the recently announced Provincial Finance Commission... Bulls stage comeback on stock market KARACHI, July 1: Stocks opened the new year account on a positive note, as investors made active covering purchases at the lower levels but there was no matching selling amid predictions... Turkish additional quota to boost ties ISLAMABAD, July 1: Additional market access for textile exporters by Turkey worth $11 million per annum will post fresh resilience to country’s exports.... Few NWFP schemes included in PSDP PESHAWAR, July 1: NWFP’s proposed new development schemes under the federally-funded Public Sector Development Programme (PSDP) for 2002-03 were not paid much heed, according to official sources.... PCGA flays cotton sale by TCP KARACHI, July 1: Pakistan Cotton Ginners’ Association (PCGA) has opposed the proposed sale of cotton by Trading Corporation of Pakistan (TCP) in the local market.... Enron, WorldCom show rich nations vulnerable: IMF UNITED NATIONS, July 1: IMF Managing Director Horst Koehler said on Monday the Enron and WorldCom scandals showed the international community had to worry as much about economic risks in wealthy... Fertilizer offtake declines ISLAMABAD, July 1: The offtake of chemical fertilizers dropped to the level as low as 2,196,000 tons during 2001-02 and about 26 per cent less than the previous year, according to... SSGC-SNGPL gas plant sold to PPL KARACHI, July 1: Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) have sold their gas purification plant, situated at Sui, to Pakistan Petroleum Limited (PPL) on Monday.... Karachi Port operations KARACHI, July 1: Eight ships carrying containers, chemicals and rock phosphate are expected to arrive at the outer anchorage on Tuesday, according to KPT sources....

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