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September 5, 2002 Thursday Jamadi-us-Saani26,1423 Govt may refund 15pc GST to pharma cos ISLAMABAD, Sept 4: The government is likely to refund the amount accruing on account of 15 per cent General Sales Tax (GST) to the drug manufacturers on their unsold drug stocks... EoIs invited for second lot of ICP funds ISLAMABAD, Sept 4: The Privatization Commission (PC) on Wednesday invited Expressions of Interest (EoIs) for the sale of management rights of second lot of Investment Corporation of Pakistan (ICP) mutual funds.... SBP starts dollar-rupee swap KARACHI, Sept 4: The State Bank on Wednesday bought $12-$15 million from some local and foreign banks through its newly set up swap desk.... Rs14.35bn refunded in July-Aug ISLAMABAD, Sept 4: The Central Board of Revenue (CBR) has paid Rs14.35 billion refund/rebate to exporters during July-August 2002-03 against Rs14.20 billion the same period last year, showing a marginal increase... SBP okays Emirates merger in Union Bank KARACHI, Sept 4: Union Bank Limited—a private sector listed commercial bank—announced on Wednesday that it had received the State Bank of Pakistan approval for take-over of Emirates Bank branches in Pakistan.... Facilitation centres set up to collect returns KARACHI, Sept 4: The corporate and southern regions of Income Tax have taken extensive measures for collecting tax returns by opening up tax facilitation centres. These centres are directly hooked up... Ishrat proposes five-year term for SBP chief KARACHI, Sept 4: The Governor of the State Bank of Pakistan, Dr Ishrat Hussain has suggested to the government to appoint central bank chief for one term of five years period... NWFP fails to meet even revised target: Land, farm tax PESHAWAR, Sept 4: The NWFP government could not meet even the downward revised target under the land and agriculture income tax during the 2001-02 financial year, according to official sources.... Kabul announces new currency KABUL, Sept 4: Afghan President Hamid Karzai said on Wednesday his government would replace its troubled afghani currency with new banknotes in a bid to bring stability to volatile exchange markets.... Prices fall on steady phutti arrivals KARACHI, Sept 4: Cotton prices on Wednesday fell below the Rs2,000 per maund level as ginners were not inclined to hold on to their unsold positions owing to steady rise in... SECP out to regularize third party insurance: Vehicles ISLAMABAD, Sept 4: Securities and Exchange Commission of Pakistan (SECP) has directed the insurance companies to advertise their services in the area of vehicles third party insurance to eliminate the menace... New York puts 9/11 cost at $95bn NEW YORK, Sept 4: The financial toll exacted by the September 11 attacks in New York could total up to 95 billion dollars, depending on the number of jobs relocated out... Euro-zone jobless stable BRUSSELS, Sept 4: The unemployment rate in the euro zone remained stable at 8.3 per cent of the workforce in July from June but had risen 0.3 percentage points over 12... Submarine cable MUMBAI, Sept 4: India’s largest international telephone service provider Videsh Sanchar Nigam Ltd (VSNL) and 12 foreign telecom companies on Wednesday signed a pact to build a new submarine cable linking... CU Managed Fund KARACHI, Sept 4: Commercial Union Life Assurance Co (Pakistan) Ltd has announced that the Offer and Bid Prices for the insured units of its Managed Fund effective from September 5... Meeting KARACHI, Sept 4: Honorary consul general Farooque A Khwajah recently held meeting with President of Rwanda Paul Kagame in Kigali. The meeting focussed on bilateral relations between Rwanda and Pakistan and... Partnerships KARACHI, Sept 4: In order to strengthen yEvolve’s commitment to provide as complete a solution as possible to its clients, yEvolve has been working on channel partnerships with the PDA vendors,... Fresh buying in Hub-Power KARACHI, Sept 4: Stocks on Wednesday finished with an extended gain as fresh active buying in Hub-Power ahead of its board meeting and expectations of higher final dividend kept investors in... Riba-free dollar saving scheme LAHORE, Sept 4: Al-Meezan Investment Bank Limited, the pioneer of Islamic banking in Pakistan, will launch its riba-free dollar saving account scheme shortly.... NBP named best bank KARACHI, Sept 13: World’s leading bankers magazine The Banker, UK, on Wednesday named National Bank of Pakistan as the best bank in Pakistan for the second consecutive year....

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