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March 20, 2003 Thursday Muharram 16, 1424 Next budget to focus on growth, development ISLAMABAD, March 19: Pakistan had met or exceeded all financial targets till December 31, 2002, which would help the government to formulate development and growth-oriented new budget in June this year,... Essential commodities shortage ruled out: US-led war on Iraq KARACHI, March 19: Amid little anxiety among the traders and importers over duration of war between the US and Iraq, the commodity markets have yet to witness either any buying euphoria... Level-playing field for textile industry sought KARACHI, March 19: All Pakistan Textile Mills Association (Aptma) chairman Anjum Saleem on Wednesday urged the government to ensure level playing field for the textile industry to keep its exports competitive... IMF team gives green signal for 6th tranche ISLAMABAD, March 19: The Executive Board of the IMF will meet in the first week of May this year to approve sixth disbursement of $117 million tranche to Pakistan under Poverty... Index falls 20 points as follow-up support turns shy KARACHI, March 19: Stocks on Wednesday remained under pressure as follow-up support turned shy in the absence of financial institutions and leading bargain-hunters. The KSE 100-share index fell by 20 points... Oil prices mixed LONDON, March 19: Oil prices rose slightly in London but fell in New York on Wednesday, a day after suffering heavy losses, with nerves fraying before an expected war in Iraq... Gas tariff hike on cards PESHAWAR, March 19: The Federal government is likely to effect increase in the gas tariff in the near future as the Oil and Gas Regulatory Authority (Ogra) is in the process... NIT’s per unit NAV rises by 55.7pc: July-Dec 2002 KARACHI, March 19: The per unit Net Asset Value of National Investment Trust (NIT) rose by 55.7 per cent during the six months July-December 2002, outperforming the KSE-100 share index by... Rupee gains against major currencies KARACHI, March 19: The rupee has significantly appreciated against the major currencies in kerb during the last couple of sessions as investors are unloading long positions in them fearing a negative... Pakistan to invest in Bangladesh EPZs ISLAMABAD, March 19: Pakistan would invest in the Export Processing Zones of Bangladesh particularly in textile, agro- based and pharmaceutical sectors.... SBP mops up Rs40.23bn KARACHI, March 19: Yields on three- and 12-month Pakistan treasury bills fell sharply at an auction on Wednesday but dealers said they expected overnight money market rates to remain largely stable.... Prices continue upward drive on cotton market KARACHI, March 19: Cotton prices on Wednesday rose further as spinners continued to make panic buying amid fears of pressure on supplies after the US attack on Iraq.... Electronic bourse: efforts on to resolve dispute LAHORE, March 19: Securities and Exchange Commission of Pakistan (SECP) chairman Abdul Rehman Qureishi has said attempts are being made to amicably resolve the dispute over the issuance of licence for... Listed cos given relaxation: 2nd quarter accounts ISLAMABAD, March 19: The Securities and Exchange Commission of Pakistan has granted a further one-month relaxation in respect of submission by the management and auditors of listed companies of their second... Karachi Port operations KARACHI, March 19: Three tankers carrying chemicals, gas oil and to load molasses are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... ‘Powerlooms on verge of collapse’ KARACHI, March 19: All Pakistan Powerlooms Association (APPA) has urged the government to reduce tariffs on import of polyester yarn.... Textile sector seeks relief FAISALABAD, March 19: Textile exporters have demanded abolition of export development surcharge (EDS) and adequate compensatory rebate to offset sudden jump in raw material and overheads costs.... Kenyan tea prices MOMBASA, March 19: The threat of war in Iraq cast a dark cloud over the weekly east African tea auction here Wednesday with exporters to the Gulf region apprehensive that combat... Palm oil prices mixed KUALA LUMPUR, March 19: Malaysian palm oil futures ended mixed on Wednesday after trading in a narrow band ahead of a US deadline for Iraqi President Saddam Hussein to go into... KCCI for contingency plan KARACHI, March 19: The KCCI has expressed its concern for not making any contingency plan by the government, in consultation with the trade and industry, to combat the negative impact of...

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