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March 23, 2003 Sunday Muharram 19, 1424 PC receives Rs786.78m bid for ICP Fund ISLAMABAD, March 22: The Privatization Commission on Saturday received highest bid of Rs786.786 million to transfer the management rights for Investment Corporation of Pakistan State Enterprise Mutual Fund (ICP-SEMF) from the... Growers selling wheat below fixed price KARACHI, March 22: A bumper wheat crop of almost 21 million tons this season is forcing farmers to sell their produce at lower than officially fixed price of Rs300 for 40... Manufacturers asked to optimize output KARACHI, March 22: The Sindh government, in a late wake up call on March 19, just a day before US attack on Iraq, has asked the industrialists and manufacturers to optimize... KSE registers major rise in second quarter KARACHI, March 22: Commenting on the performance of the capital market, the second quarterly report of the State Bank of Pakistan acknowledged that the Karachi Stock Exchange had posted stunning 112.2... Private banks’ growing market share KARACHI, March 22: The private banks are showing a sustained and robust growth, outperforming their foreign and local peers.... Pakistan, China to cooperate in textile KARACHI, March 22: Minister of state and chairman, Export Promotion Bureau, Tariq Ikram, on Saturday suggested for joint ventures between Pakistan and China in textile industry with utilization of quotas being... Dullness persists on cotton market KARACHI, March 22: The cotton market on Saturday finished the week on a dull note as both buyers and sellers remained locked in a price war but it appears to be... Differences in CBR over USAS LAHORE, March 22: Serious differences exist in the Central Board of Revenue (CBR) on the issue of introducing Universal Self Assessment Scheme from the next fiscal year because its opponents insist... Specialized tax officials allowed ISLAMABAD, March 22: The International Monetary Fund (IMF) has proposed to the Central Board of Revenue (CBR) to hire experts at market rates in highly specialized positions to improve the competency... US Senate rejects bid to slash Bush tax cut WASHINGTON, March 22: The US Senate on Friday rejected a bid to slash President George W. Bush’s tax cut in half by a group of moderates worried about the cost of... Oil shipments unaffected in Gulf despite war CAIRO, March 22: Petroleum shipments from the Gulf were unaffected on Saturday despite reports of blazing wells in Iraq’s southern oil fields, shipping sources said.... Oil prices plunge by 18 per cent, gold dips LONDON, March 22: Oil prices plummeted this week after the United States ditched diplomacy and embarked on a long-awaited war in Iraq that triggered a partial reversal of safe-haven flows out... Time for action on economic reforms: EU BRUSSELS, March 22: The European Union must start matching words with deeds if it is to achieve its ambition of becoming the world’s most dynamic economy, EU leaders were to say... US excludes 400,000 tons more steel from tariffs WASHINGTON, March 22: The Bush administration on Friday said it has excluded another 295 foreign steel products from tariffs President George W. Bush imposed one year ago to help the struggling... No plans for ECB rate cut: Issing FRANKFURT, March 22: The European Central Bank’s chief economist indicated on Saturday it had no plans for an immediate rate cut as a result of the Iraq war, but that it... US stocks rise with hopes for quick end to war NEW YORK, March 22: Stocks rallied some more in late Friday afternoon trade, leading the Dow and the S&P 500 toward their eighth straight session of gains, as investors hoped a... Dollar higher against euro NEW YORK, March 22: The dollar rallied to its highest level in two months versus the euro and its best in three months against the yen on Friday as the US-led... WB says economy ‘still fragile’ ISLAMABAD, March 22: World Bank Vice President Ms. Mieko Nishimizu said on Saturday Pakistan’s economy was “still fragile” which could be further hit by the war in Iraq.... SPI posts 0.61pc increase ISLAMABAD, March 22: The Sensitive Price Indicator established a record of sorts by registering an increase of 0.61 per cent during the single week ending March 20, 2003, as compared to... IMF wants CBR to draw effective audit system ISLAMABAD, March 22: The International Monetary Fund (IMF) has recommended to the Central Board of Revenue to draw up an effective audit programme for the income tax returns 2003 to realise...

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