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March 5, 2003 Wednesday Muharram 1, 1424 Govt to resolve exporters’ problems: Textile over-shipment ISLAMABAD, March 4: Commerce Minister, Humayun Akhtar Khan said on Tuesday that the problems faced by textile exporters would be resolved as soon as possible.... Road-map for auto industry under study ISLAMABAD, March 4: Amid complaints of high prices and delayed deliveries, the government is considering to do away with extra-ordinary protection being enjoyed by the automobile industry through a long-term road-map... 0.1m tons sugar to be exported ISLAMABAD, March 4: The government has given approval for the export of surplus stocks of 0.1 million tons sugar to provide relief to the mill owners so that they could give... DTRE rule to be simplified KARACHI, March 4: The Central Board of Revenue (CBR) has agreed to further simplify direct tax relief on export (DTRE) scheme to make it more exporter-friendly.... TCP to purchase 25,000 tons sugar KARACHI, March 4: The Trading Corporation of Pakistan (TCP) has doubled the quantity of sugar to be purchased by the corporation from mills through tender bids being opened on Friday, official... Poverty reduction with macro-economic stability KARACHI, March 4: The government has reassured IMF that it would focus on poverty reduction policies and programmes “without compromising macro-economic stability”.... Pakistan to face gas shortfall by 2009 KARACHI, March 4: Pakistan will face a shortfall of 600 mmcfd of gas by the year 2009 despite recent gas discoveries, which would be insufficient to meet the rising demand in... PASSCO floats wheat sale tender KARACHI, March 4: Pakistan Agriculture Storage and Services Corporation (PASSCO) said on Tuesday it had issued a tender to sell 300,000 tons of milling wheat from government-owned stocks.... Mobilink to spend $130m on network expansion ISLAMABAD, March 4: The Mobilink cellular phone company here on Tuesday signed an agreement with four other telecom companies to expand its network for another million subscribers at a cost of... KSE-100 index loses 71.82 points KARACHI, March 4: Stocks on Tuesday fell across a broad front followed by active selling in the energy shares, warning investors any snap rally amid fears of Iraq war could be... BoP declares dividend LAHORE, March 4: The Bank of Punjab (BoP) has approved a cash dividend of 17.5 per cent to shareholders for the year ended on December 31, 2002.... Cotton prices up on slow phutti arrivals KARACHI, March 4: Cotton prices on Tuesday rose further as lower than market expectation arrivals of phutti into the ginneries caused panic-like conditions among the spinners and mills.... Phutti arrival declines KARACHI, March 4: Further fall in fortnightly arrival of phutti has dampened the hope of achieving the government’s estimated target of over 10.5 million bales this season (2002-03).... Karachi Port operations KARACHI, March 4: Eight ships carrying containers, steel rails and to load naphtha are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Rating watch KARACHI, March 4: JCR-VIS credit rating company has placed the BBB/A-3 ratings assigned to Al-Zamin Leasing Modaraba on “rating watch” in view of its proposed merger with First Professional Modaraba, says... US house prices WASHINGTON, March 4: US house prices may slip from giddy heights, eroding consumers’ buying power, but they are unlikely to burst like a bubble, Federal Reserve chairman Alan Greenspan said on... US steel exemptions WASHINGTON, March 4: A top US industry executive said on Tuesday he expected the Bush administration to exempt only a small amount of additional foreign steel from the US tariffs imposed... Eurozone BRUSSELS, March 4: Unemployment in the 12-nation euro zone rose to 8.6 per cent of the work-force in January from a rate of 8.5 per cent the previous month, seasonally adjusted...

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