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August 13, 2002 Tuesday Jamadi-us-Saani 3, 1423 Govt, IMF agree not to revise tax target ISLAMABAD, Aug 12: The government and the IMF have agreed that Rs460 billion revenue collection target set for the current financial year will ‘not’ be revised downward.... SECP approves 14 schemes of mergers ISLAMABAD, Aug. 12: Securities and Exchange Commission of Pakistan (SECP) has cleared 14 schemes of mergers involving leasing companies, modarabas and mutual funds as part of its efforts to bring about... Demand for local goods to increase: Consumer finance KARACHI, Aug 12: The consumer financing will increase the demand of locally produced items but it is hard to predict any specific percentage at this moment, Habib Bank president Zakir Mehmood... System evolved to expedite refunds ISLAMABAD, Aug 12 : The government has decided to establish a Sales Tax Automated Refund Repository (STARR) system at Custom House, Lahore with the aim to speed up refunds. The move... Stocks soar 27 points as volume touches new 183m mark KARACHI, Aug 12: Stocks on Monday maintained upward drive as the strength of the blue chip sector spilled over into other counters after some of the foreign funds reportedly joined hands... Consumer durables financing allowed ISLAMABAD, Aug 12: The State Bank has allowed commercial banks to make financing available for purchase of consumer durables.... Forex reserves SBP waits for further fall of euro KARACHI, Aug 12: The State Bank believes that the euro at its present value at 97 cents is too expensive. Central bankers say it would be imprudent to purchase euro at... Sugar mills fear liquidity crunch KARACHI, Aug 12: Sugar mills in Sindh fear acute liquidity crunch and financial constraints with the start of new crushing season owing to huge carryover stock of over 0.385 million tons.... Cotton prices raised by Rs50 KARACHI, Aug 12: After having risen sharply higher during the last couple of sessions, cotton prices on Monday took a technical pause as spinners remained busy to take part in tomorrow’s... NWFP hydel profit may not exceed Rs6bn PESHAWAR, Aug 12: NWFP is not expecting to get increased its annual net hydel profit share beyond the existing level of Rs6bn due to poor economic health of the Water and... EPB urged to change exhibition strategy KARACHI, Aug 12: The exhibitors of the Interjeans Cologne, which was this year overshadowed by the Dusseldorf fair, have urged the Export Promotion Bureau (EPB) to change its exhibition strategy and... KCCI body term may be reduced to two years KARACHI, Aug 12: The term of the president Karachi Chamber of Commerce and Industry (KCCI) as well as the managing committee, has been proposed for two years, which would enable the... ‘Economy sound’ KARACHI, Aug 12: Finance Minister Shaukat Aziz has said that India in a bid to cripple Pakistan economy, mounted pressure on the border but failed terribly as the country’s steady growth... Karachi Port operations KARACHI, Aug 12: Six ships carrying containers and chemicals are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Award LAHORE, Aug 12: President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Iftikhar Ali Malik has been conferred the ‘CNCI Achiever of Industrial Excellence’ Gold Award by the Ceylon National... Port Qasim KARACHI, Aug 12: Two ships scheduled to load and discharge crude oil and containers were allocated berths at Fotco Oil Terminal and Qasim International Containers Terminal during the last 24 hours,... European shares slide ahead of Fed rate cut LONDON, Aug 12: European share prices took a dive on Monday as investors treaded water ahead of a US interest rate decision, economic data and a deadline for US executives to... Gold firms in Europe LONDON, Aug 12: Gold ran up to three-week highs in Europe on Monday, pulled up by falling stock markets and buoyed by euro strength against the greenback.... Malaysian palm oil ends flat KUALA LUMPUR, Aug 12: Malaysian palm oil futures were flat in late trade on Monday, unsure over which direction to take after cargo surveyor SGS released disappointing exports data, traders said.... Oil prices LONDON, Aug 12: IPE Brent crude oil futures climbed into positive trading territory on Monday, maintaining momentum after major crude producer Iraq said UN weapons inspections were over and funds purchased...

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