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August 23, 2002 Friday Jamadi-us-Saani 13,1423 10-year Engg Vision okayed: $12bn investment likely ISLAMABAD, Aug 22: President Pervez Musharraf on Thursday approved a 10-year “Engineering Vision 2002” with an initial funding plan of Rs4.5 billion.... Money launderers have large clientele KARACHI, Aug 22: The clientele of illegal brokerage houses is diverse: Money changers. Stock brokers. Builders. Gold and cloth merchants. Cotton traders and exporters.... Bidding for TCCL on Sept 7 ISLAMABAD, Aug 22: The bidding for the sale of 90 per cent shares of Thatta Cement Company Ltd (TCCL) will be held on September 7, 2002.... MCA probing move to set up cement cartel ISLAMABAD, Aug 22: The Monopoly Control Authority (MCA) has initiated an investigation into the recent moves of cement manufacturers to set up a cartel for the second time in about four... Bull-run continues: index crosses 1,900-point barrier KARACHI, Aug 22: The prevailing dividend-led bull run further intensified on the stock market on Thursday followed by heavy buying triggered by reports of above investor expectations final dividend plus bonus... PSO profit up by 42pc to Rs3.2bn KARACHI, Aug 22: The after-tax profit of Pakistan State Oil (PSO) has surged by 42 per cent to Rs3.2 billion in 2001-02 as compared to Rs2.25 billion in 2000-01.... Housing finance system discussed ISLAMABAD, Aug 22: A World Bank delegation currently visiting Pakistan, on Thursday called on Finance Minister Shaukat Aziz and discussed various policy options for the development of a viable housing finance... Leather export KARACHI, Aug 22: Despite global recession and slower demand after Sept 11 incident export of leather and its goods during fiscal 2001-02 were fairly encouraging at $672 million.... Investment climate still a challenge: SBP chief KARACHI, Aug 22: The State Bank of Pakistan governor said on Thursday the country’s economy was showing signs of improvement but the shaky investment climate still poses a challenge to economic... Prices remain firm on cotton market KARACHI, Aug 22: Cotton prices on Thursday remained stable as some of the spinners continued to cover their positions but the physical activity remained relatively slow owing to the absence of... ADBP asked to provide relief to Balochistan farmers ISLAMABAD, Aug 22: Finance Minister Shaukat Aziz has directed the officials of the Agricultural Development Bank of Pakistan (ADBP) to look into problems of the farmers in Balochistan and provide them... Karachi Port operations KARACHI, Aug 22: Two ships carrying general cargo and chemicals are due to arrive at the outer anchorage on Friday, according to KPT sources.... Gas deal TEHRAN, Aug 22: Iran will sign a $2 billion contract with a foreign company next week to exploit the latest phases of Iran’s offshore South Pars gas field, Oil Minister Bijan... US jobless WASHINGTON, Aug 22: The number of people filing new claims for US jobless benefits fell 2,000 to a seasonally adjusted 389,000 last week, the government said on Thursday.... Workshop on export credit ISLAMABAD, Aug 22: Askari Commercial Bank organized a workshop in Rawalpindi on Thursday to create awareness among the exporters about how they can benefit from the newly-launched Export Credit Guarantee Scheme.... German GDP grows WIESBADEN, Aug 22: The German economy, the biggest in the 12-country euro zone, grew by 0.3 per cent in the second quarter of the current year from the figure for the... Pound tracks euro lower against dollar LONDON, Aug 22: Sterling tracked the euro down against the dollar on Thursday after lacklustre retail sales data suggested Britain’s consumer boom may be losing momentum.... Rs1.3m released on drawback claims ISLAMABAD, Aug 22: The Collector of Customs (Exports) has released an amount of over Rs1,300,000 against 22 duty drawback claims by Knitter (Pvt) Limited on the Federal Tax Ombudsman directive.... Palm oil futures firmer KUALA LUMPUR, Aug 22: Malaysia’s crude palm oil futures were firmer on Thursday due to technical covering as players ignored declines in CBOT soy markets, traders said.... IT officials KARACHI, Aug 22: The Member Central Board of Revenue (CBR), Habib Fakhruddin, has said that the board officials under the Income Tax Ordinance 2001 has no powers to issue directives with...

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