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January 15, 2003 Wednesday Ziqa'ad 11, 1423 SRO-410 to stay until DTRE flaws removed LAHORE, Jan 14: Commerce Minister Humanyun Akhtar on Tuesday said SRO-410, governing duty-free import of the machinery, spares and raw materials for the value-added textile industry would not be withdrawn “unless... Govt asked not to sell strategic units ISLAMABAD, Jan 14: Dr Akhtar Hasan Khan, former secretary, Planning and an eminent economist, speaking at the meeting of Pakistan Society of Development Economics here on Tuesday, urged the government to... Higher farm production cuts food prices ISLAMABAD, Jan 14: Higher agriculture production leads to reduction in food prices, thus lowering the cost of industrial development.... Foundations for real growth laid, says Shaukat: Stock boom, rising reserves ISLAMABAD, Jan 14: Economic Adviser to the Prime Minister Shaukat Aziz on Tuesday said a booming stock market, reduced debt payments and rising forex reserves were the foundations for real growth... Oil prices rally LONDON, Jan 14: Oil prices soared to a new two-year high here on Tuesday on worries that a war in Iraq is drawing closer, dashing hopes among oil consumers that an... Stocks recover partially on active short-covering KARACHI, Jan 14: Stocks on Tuesday extended the overnight reaction on renewed selling in most of the pivotals but active short-covering toward the fag-end of the session at the lower levels... Telecom sector stands deregulated KARACHI, Jan 14: With the end of exclusive right of the Pakistan Telecommunication Company Limited (PTCL) on all core infrastructure services including international data and voice- services on December 31, 2002,... Defaulting US firm to get licence: Exploration ISLAMABAD, Jan 14: The government signs here on Wednesday a $15 million petroleum agreement with a US-based company to start drilling and exploration of more than 2100 sq. km area in... UAE raises customs duty to 5pc KARACHI, Jan 14: The United Arab Emirates (UAE) has increased customs duty from 4 per cent to 5 per cent on all goods and commodities from January 1, 2003.... Sugar exports await govt incentives KARACHI, Jan 14: A larger sugarcane crop in 2002 is expected to boost sugar output in the current 2002-03 marketing year and leave a big surplus for export, agriculture and industry... Capital cost hits investment firms ISLAMABAD, Jan 14: The cost of capital has strong implication for investment firms and public institutions because of its vulnerability to the fiscal incentives and public actions on part of the... Spinners resume covering purchase KARACHI, Jan 14: Cotton market on Tuesday maintained a firm trend as spinners resumed their covering operations mostly in line with the asking prices of ginners.... Common rating scales to benefit modarabas KARACHI, Jan 14: Modarabas are likely to attract more clients after JCR-VIS decision to do away with separate rating scales that were in use for rating modarabas until late last year.... Ishrat defends cut in NSS return rates ISLAMABAD, Jan 14: Dr Ishrat Hussain, the governor, State Bank of Pakistan, on Tuesday defended the drastic reduction in the rates of return on National Saving Schemes in view of the... Removal of cap on fabrics demanded KARACHI, Jan 14: The exporters have urged the State Bank to remove the cap of $3 per sq metre on grey and bleached fabric for availing export finance facility.... Aptma criticizes PCGA KARACHI, Jan 14: All Pakistan Textile Mills Association (APTMA) has criticized the statement of Pakistan Cotton Ginners’ Association with regard to the size of cotton crop as well as demand for... Withdrawal of ST on raw cotton sought LAHORE, Jan 14: Textile millers have urged the government to withdraw sales tax from raw and ginned cotton to allow farmers to sell their product directly to the mills.... ST refund: inventory record term to be waived KARACHI, Jan 14: The chairman CBR, Riaz Ahmed Malik on Tuesday agreed to waive the condition of furnishing records of inventory in actual for filing sales tax refund claims. However, inventory... Karachi Port operations KARACHI, Jan 14: Five ships carrying containers, general cargo and crude oil are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Sri Lanka tea prices up COLOMBO, Jan 14: Sri Lanka tea prices rose at Tuesday’s auction, as brokers said reduced quantities boosted low-growns and the market showed renewed interest in teas from the temperate Nuwara Eliya...

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