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January 25, 2003 Saturday Ziqa’ad 21, 1423 Govt working out Rs6bn package: Sugar export KARACHI, Jan 24: Three members of the federal cabinet are meeting in city either on Sunday or on Monday to bring about a reconciliation to the conflicting interests of the growers... UAE terms increase in taxes arbitrary: Pak-Arab Fertilizers ISLAMABAD, Jan 24: The United Arab Emirates (UAE) has protested over alleged arbitrary increase in taxes on Pak-Arab Fertilizers Company (PAFCO) and has decided not to make further investments in it.... Export loans rate to fall in February KARACHI, Jan 24: Banks may offer export loans at 5.5 per cent in February down from six per cent in January as the State Bank seems ready to lower export refinance... Committee to solve traders problems KARACHI, Jan 24: The government is considering to set up a high-powered ministerial committee to remove irritants confronting trade and industry in general and exporters in particular at various ministries and... Kabul relaxes rules for investment ISLAMABAD, Jan 24: A business delegation from Afghanistan on Friday said that since rules regarding establishing business in Afghanistan have been relaxed, Pakistani investors should explore investment opportunities in Afghanistan specially... Gold touches new peak KARACHI, Jan 24: Gold prices on the local bullion market on Friday soared to a record high of Rs6,905 per ten grams owing to panic buying triggered by fears of Iraq... Humayun briefed on textile quota KARACHI, Jan 24: Denial of exceptional flexibility by the European Union (EU) during 2002 quota year would mean embargo on bedlinen, towels, pants and shorts.... Settelment process goes smooth on KSE KARACHI, Jan 24: On account of stringent monitoring and careful risk management, the trading and settlement process was proceeding smoothly and there was no reason for investor concern, the KSE Managing... Govt to rationalize tariff by June ISLAMABAD, Jan 24: Minister for Industries and Production, Liaquat Ali Jatoi on Friday said rationalization of tariff to make the country’s products competitive in the world market would be finalized by... Rescheduling WASHINGTON, Jan 24: The International Monetary Fund said on Friday it has approved a short-term accord that will reschedule $6.78 billion of payments Argentina owes the lender in the coming months.... No oil crisis DAVOS, Jan 24: The secretary general of the Organization of Petroleum Exporting Countries said on Friday he believed the world was not on the verge of an oil crisis but the... Buying at fag-end averts major fall on stock market KARACHI, Jan 24: Stocks on Friday resisted larger decline as investors covered positions in most of the blue chips at the lower levels amid strong presence of the financial institutions and... Afghan importers seek removal of more items: ATT negative list ISLAMABAD, Jan 24: The Afghan importers have requested the Pakistani government to remove maximum items from the negative list of Afghan Transit Trade (ATT) to help them enhance import under the... Quieter conditions on cotton market KARACHI, Jan 24: Cotton market on Friday passed through a relatively quieter session as buyers and sellers were locked in price war followed by reports of pressure on ready supplies.... ADB’s SME promotion plan from next year LAHORE, Jan 24: The Asian Development Bank (ADB) is expected to begin its SME development programme in Pakistan by January 2004.... UBL ratings upgraded KARACHI, Jan 24: JCR-VIS credit rating company has upgraded the medium to long-term rating of United Bank Ltd to single A with a positive outlook. It has also upgraded UBL’s short... Karachi Port operations KARACHI, Jan 24: The cargo handling activity at the Karachi port is expected to gather fresh momentum as nine ships are due to arrive on Saturday, according to KPT sources.... UTP rating KARACHI, Jan 24: Pakistan Credit Rating Agency (Pacra) has maintained the mutual fund rating of AA (double A) for Unit Trust of Pakistan (UTP), said a statement on Friday.... German inflation WIESBADEN, Jan 24: Headline inflation in Germany remained firmly under control in January, preliminary consumer price data showed on Friday, even though higher oil prices were generating pressure further up the... Bhit gas field begins production KARACHI, Jan 24: Commercial production has commenced from December 30 last at Bhit Gas Field, located some 180-km north of Karachi in the Kirthar Region....

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