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March 25, 2003 Tuesday Muharram 21, 1424 Long-term contingency plan under study: Impact of war on economy ISLAMABAD, March 24: Pakistan is preparing a long-term contingency plan to minimize the impact on its trade volume and increasing cost of exports and imports as Iraq war appeared to prolong.... Capital market absorbs shocks of Iraq war KARACHI, March 24: Only a week before the war began, almost every analyst was out with the same forecast: stocks would plunge by 100-200 points in the first two days of... WTO to discuss modalities on farm agreement GENEVA, March 24: The WTO member countries on Tuesday schedule to start negotiations on the draft modalities to reach a compromise for finalizing agreement on agriculture.... NWFP yet to get royalty on oil PESHAWAR, March 24: The NWFP’s proceeds under the head of royalty on crude oil stood at zero level during the first eight months of the current financial year, according to official... TCP to sell 25,000 tons of sugar KARACHI, March 24: The Trading Corporation of Pakistan (TCP) said on Monday it had issued a tender to sell 25,000 tons of white refined sugar from government-owned stocks next month.... Oil prices rise by over $1 LONDON, March 24: Oil prices raced higher on Monday, bouncing back from a recent drop as news of reverses for US and British forces fighting in Iraq prompted traders to question... Big entities sell-off on track, says Hafeez ISLAMABAD, March 24: Prime Minister’s Adviser on Privatization and Investment Dr Hafeez Sheikh said on Monday after the bidding of the PSO, to be held on April 26, the privatization of... SECP to regulate pension schemes ISLAMABAD, March 24: The government has assigned the regulation of Private Pension Schemes and Funds to the Securities and Exchange Commission of Pakistan (SECP), according to an official source.... Surcharge on delayed clearance waived ISLAMABAD, March 24: The Central Board of Revenue (CBR) has waived the 2 per cent surcharge on delay in clearance of imported goods if these are cleared by March 31, 2003.... Dollar falls against euro, yen LONDON, March 24: The dollar dropped against other major currencies on Monday as dealers absorbed a string of reverses for US and British forces in Iraq that sparked fears the conflict... Stock market declines on Iraq war concerns KARACHI, March 24: Stocks on Monday turned mixed as leading shares came in for active profit-selling at higher levels as the assumptions of a quick end of Iraq war seem to... European stock markets tumble LONDON, March 24: European share prices lurched lower on Monday as jitters about how long the war in Iraq might drag on put the brakes on a recent rally.... Prices remain stable on cotton market KARACHI, March 24: Cotton prices on Monday remained stable around the previous levels as spinners and mills were not inclined to go for bigger lots above their benchmark of Rs2,650.... BD business for cut in markup, power tariff: Iraq war DHAKA, March 24: The leading chambers and trade associations of Bangladesh have requested the government to reduce bank interest rates, gas and power tariffs and port charges to protect the country’s... Govt urged to check rising yarn prices KARACHI, March 24: Towel manufacturers and exporters have urged the government to immediately look into the problem of rapidly rising yarn prices which is likely to result in large-scale closures and... Japan trade surplus rises 20.4 per cent TOKYO, March 24: Japan’s trade surplus in February rose 20.4 per cent from a year earlier led by growth in exports of semiconductors and audio-visual components, the finance ministry said on... Palm oil prices KUALA LUMPUR, March 24: Malaysia’s palm oil futures failed to sustain earlier gains and fell across the board on Monday, uncertain about how long the US-led war in Iraq would continue.... SMEs want early gas, power connections KARACHI, March 24: Small and medium enterprises have taken strong exception of the slow and lukewarm response by utility companies in giving new connections, resulting in long delays in commencing commercial... Essential items shortage ruled out KARACHI, March 24: Sindh Minister for Food and Agriculture, Arif Mustafa Khan Jatoi has ruled out any shortage of essential items in case the US-Iraq war prolongs.... Karachi Port operations KARACHI, March 24: Five ships carrying containers, palm oil and steel coils are expected to arrive at the outer anchorage on Tuesday, according to KPT sources....

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