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March 11, 2003 Tuesday Muharram 7, 1424 5 big banks to disburse Rs21.30bn farm loans KARACHI, March 10: All the five big commercial banks have promised to disburse Rs21.30 billion credit to the farmers during the current fiscal year as against a target of Rs18.70 billion... IMF assured of meeting revenue target ISLAMABAD, March 10: The tax authorities will have to collect Rs191 billion during the next four months (March-June) to achieve the Rs460 billion target set for the current financial year.... Advice for parliamentary consensus: Economic reforms KARACHI, March 10: The IMF advised the Jamali government “to build a consensus within the coalition government and in the parliament” on economic reforms “that are threatened by well entrenched groups.”... Sri Lanka raises duty on rice KARACHI, March 10: The Rice Exporters Association of Pakistan (REAP) has urged Commerce Minister Humayun Akhter Khan to take up the issue of enhanced duty rates on rice with the Sri... $ to fall as SBP slows buying from banks KARACHI, March 10: The State Bank will allow the US dollar to lose some of its extra weight this month as keeping the buck artificially stable has started hurting the exporters... Stocks turn erratic as investors play safe KARACHI, March 10: Stocks on Monday turned in a highly erratic performance as leading investors played on both sides of the fence because of heating up of the political scene after... SBP body to settle write-off disputes LAHORE, March 10: The central bank has constituted a six-member committee to settle the disputes relating to the write-off of irrecoverable loans and advances (under the SBP circular No.29 issued in... Tax reforms to complete by 2006 ISLAMABAD, March 10: Tax authorities have finalized schedule for comprehensive tax reforms strategy to be completed by 2006.... Afghans train local carpet weavers KARACHI, March 10: Pakistani carpet weavers have started learning the art of weaving on the pattern on Afghan weaving technique in order to offset the impact of massive exodus of Afghan... Exporters asked to increase share in market KARACHI, March 10: The adviser to the prime minister on finance and economic affairs Shaukat Aziz has advised the businessmen to vigorously strive for increasing their share in export market to... Textile share in exports goes up ISLAMABAD, March 10: Textile manufactures raised their share in total exports to 70.79 per cent during the July-February 2002-03 period, as against 69.92 per cent during the corresponding period of previous... HBL okays rules for write-off LAHORE, March 10: The HBL board of governors had approved the central bank’s guidelines for the “write-off of irrecoverable loans and advances” issued through its circular No. 29 in October.... Cotton market lacks lustre KARACHI, March 10: Trading on the cotton market on Monday resumed on a relatively dull note as spinners were not inclined to make fresh bigger commitments owing to delivery problems.... SMEs want seat on rice board KARACHI, March 10: The Union of Small and Medium Enterprises (Unisame) has urged the Ministry of Commerce to give SMEs proper representation on the rice board.... Karachi Port operations KARACHI, March 10: Nine ships carrying tallow, crude oil, containers and to load ethanol are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... 28 sugar mills offer accepted KARACHI, March 10: Tender Evaluation Committee of Trading Corporation of Pakistan (TCP) on Monday accepted offer of Rs19,200 per ton given by 28 sugar mills being lowest one for purchase 25,000... IMF official visits SECP ISLAMABAD, March 10: The Executive Director of International Monetary Fund (IMF), Mr Abbas Mirakhor, during a visit to the Securities and Exchange Commission of Pakistan, here on Monday, stressed the need... Rebate sought KARACHI, March 10: The chairman, Falahi Anjuman Wholesale Vegetable Market, Super Highway, Haji Shahjehan has urged the government to provide rebate of Re1 per kg on potato and onion so that... MCB M-NET KARACHI, March 10: Customers of Bolan Bank have been facilitated to use ATM facilities offered by Muslim Commercial Bank and other M-NET partner banks under an agreement the two banks signed... Palm oil prices KUALA LUMPUR, March 10: Malaysia’s palm oil futures fell across the board on Monday due to heavy liqudation after a main cargo surveyor failed to provide much-needed direction to the volatile...

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