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July 9, 2002 Tuesday Rabi-us-Sani 27,1423 Wapda defies President’s orders: NWFP net hydel profits PESHAWAR, July 8: Non-payment of the net hydel profit share to NWFP on monthly basis during the out-going financial year by Water and Power Development Authority (Wapda) has come in defiance... Export finance facility for fisheries ISLAMABAD, July 8: “Fisheries sector will be facilitated in availing export re-finance scheme of the State Bank so that fisheries community can obtain loans at softer interest.”... Discounting falls sharply in June KARACHI, July 8: Banks resorted to much lesser discounting last month as the liquidity crisis that had hit them in May in the wake of growing tension on Pakistan-India borders eased... 5 oilfields handed over to buyers: $158m received ISLAMABAD, July 8: The Privatization Commission has received $158 million on account of disinvesting five oilfields, and formally handed them over here on Monday to the buyers.... PC to evaluate PIA assets abroad ISLAMABAD, July 8: President General Pervez Musharraf on Monday directed the Privatization Commission to evaluate the PIA assets abroad for its dis-investment.... Sri Lanka hopes for free trade pact by Sept COLOMBO, July 8: Sri Lanka expressed the hope on Monday that a free trade agreement (FTA) with Pakistan would be in effect by September.... HK most expensive city SINGAPORE, July 8: Hong Kong has replaced Tokyo as the world’s most expensive city, and Asia is the most expensive region, according to a global survey released on Monday, which placed... Leather goods exports to US KARACHI, July 8: Chairman, Pakistan Leather Garments Manufacturers & Exporters Association (PLGMEA), Fawad Ijaz Khan and executive board members held a meeting with minister-designate (trade) to Pakistan embassy in US, Ashraf... Saudi Pak Commercial Bank KARACHI, July 8: The new owners of the fallen Prudential Commercial Bank Limited are taking time to release the audited accounts for the year ended December 31, 2001, and it is... Stocks decline as follow-up support turns shy KARACHI, July 8: Stocks resumed trading on Monday on a higher note but later turned mixed as follow-up support turned shy even on the blue chip chip counters, although rumours of... Global economic recovery under way BASEL, Switzerland, July 8: A global economic recovery appears to be under way, especially in industrialized countries, but several obstacles could hold the rebound back, the Bank for International Settlements (BIS)... Karachi Port operations KARACHI, July 8: Seven ships including those whose arrivals were delayed are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Two-year term proposed for KCCI president KARACHI, July 8: The managing committee of the Karachi Chamber of Commerce and Industry (KCCI) has proposed changes and amendments in the memorandum and articles of the KCCI in which one... Ginners, spinners locked in price war KARACHI, July 8: Cotton market on Monday consolidated weekend gains as ginners and spinners remained locked in a price war but it appears to be a no-win situation for the both.... FPCCI submits budget anomalies to govt body KARACHI, July 8: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has submitted the 2002-03 budget anomalies to the federal finance minister and chairman anomaly committee for consideration.... India may become 2nd largest rice exporter NEW DELHI, July 8: India, saddled with large grain stocks, could become the world’s second largest rice exporter after Thailand if infrastructure problems are ironed out, traders and analysts said on... Transfer, posting in CBR ISLAMABAD, July 8: The Central Board of Revenue (CBR) on Monday notified the transfers and postings of seven officers of BS-20 and BS-21 with immediate effect and till further order.... Indian equity funds rise NEW DELHI, July 8: Net asset values of Indian equity funds, which fell sharply in May, recovered in June because of attractive valuations and easing tensions between India and Pakistan, analysts... REAP seeks end to price bar KARACHI, July 8: Rice Exporters Association of Pakistan (REAP) has urged the government to abolish the minimum price restriction on all rice exports and quality review system on IRRI-6 rice.... Exports facilitation KARACHI July 8: The Export Promotion Bureau has provided pro and re-active facilitation to exporters as part of the national drive to improve the country’s exports....

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