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March 21, 2003 Friday Muharram 17, 1424 Iraq war Export target in jeopardy KARACHI, March 20: Pakistan’s export trade is likely to come under severe strain from the US-led war against Iraq launched on Thursday and business leaders now fear that the 10.4 billion... SBP concern at low development spending KARACHI, March 20: The State Bank has expressed its concern over the government’s current expenditure growing much faster than development spending during July-December 2002.... Infrastructure fund planned ISLAMABAD, March 20: The government has decided to establish Pakistan Infrastructure Fund (PIF) through issuance of government-guaranteed bonds of 5-20 years of maturity period for developing strategic infrastructure projects, the Ministry... Essentials remain costly KARACHI, March 20: Prices of essential items in the second quarter of 2002-03 remained on the higher side mildly as compared to the same period of 2001-02.... Shipping lines hint at war risk premium KARACHI, March 20: The foreign shipping companies started giving warning signals to the exporters for imposing war risk premium (WRP) charges hours after the US attacked Iraq early on Thursday morning.... Rupee-dollar exchange rate adjustments KARACHI, March 20: The State Bank of Pakistan has hinted at the possibility of slowly adjusting rupee-dollar exchange rate adjustments “to benefit the economy through cheaper imports and saving in external... July-Feb collection up by 15pc ISLAMABAD, March 20: The Central Board of Revenue collected Rs271.705 billion revenue during the July-February period of the current financial year, as against Rs234.934 billion collected during the same period last... Bidding for ICP fund tomorrow ISLAMABAD, March 20: The Privatization Commission (PC) is holding on Saturday the bid opening ceremony for the transfer of the management rights for Investment Corporation of Pakistan’s (ICP) State Enterprise Mutual... Heavy buying pushes index higher by 84.17 points KARACHI, March 20: The US attack on Iraq seems to have given a green signal to the investors who on Thursday indulged in speculative buying amid hopes that the war may... PC board reshaped ISLAMABAD, March 20: The federal government here on Thursday reconstituted the Privatization Commission Board (PCB), which would be headed by Prime Minister’s Adviser on Privatization and Investment Senator Dr. Abdul Hafeez... Oil supplies VIENNA, March 20: Opec president Abdullah bin Hamad al-Attiyah repeated Thursday after the start of the war against Iraq that the oil-producing organisation was ready to make good any shortage of... $2.5bn ADB loan LAHORE, March 20: The Asian Development Bank will extend financial assistance of $2.5bn to Pakistan during next three years, said senior economic adviser of the bank, Naveed Hamid here on Thursday.... Banks, DFIs receive 11,000 requests: Loans write-off LAHORE, March 20: Different nationalized and private banks and DFIs are said to have received some 11,000 requests involving an outstanding default amount of about Rs26 billion under the State Bank’s... Prices rise to record level on cotton market KARACHI, March 20: Cotton prices on Thursday rose to a record high level as spinners and mills indulged in panic-buying fearing interruption in physical shipments from the overseas sources because of... Plan to export surplus potatoes ISLAMABAD, March 20: The Ministry of Commerce is devising a mechanism for export of 0.26 million tons of surplus potatoes to provide protection to the growers in the wake of constant... Pakistan offers great prospects for investment KARACHI, March 20: At the two-day, 10th Annual Asia Pacific Issuers & Investors Forum organized by Euromoney in Singapore, the Managing Director, Karachi Stock Exchange, Moin M. Fudda presented Pakistan’s case... Karachi Port operations KARACHI, March 20: Four ships carrying palm oil, containers and steel coils are expected to arrive at the outer anchorage on Friday, according to KPT sources.... Single member cos: rules notified ISLAMABAD, March 20: The Securities and Exchange Commission of Pakistan here on Thursday notified the Companies (Single Member Private Limited Companies Rules), 2003 and invited the views of general public thereon... WB support to tax reforms reaffirmed KARACHI, March 20: Appreciating the working of Large Taxpayers Unit (LTU), the vice president of the World Bank (WB) Mieko Nishimizu during a visit to LTU on Thursday assured continued support... Palm oil off lows KUALA LUMPUR, March 20: Malaysian palm oil market fell across the board on Thursday and at one stage hit its lowest level in five months due to fears of disruption in...

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