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April 15, 2003 Tuesday Safar 12, 1424 Private sector credit shoots up to Rs102bn KARACHI, April 14: Banks have sped up credit disbursement—but only after learning the lesson the hard way. On the other hand the private sector is showing no hurry in credit retirement... Foreign stationery floods market KARACHI, April 14: Foreign made fountain pens, ball points, pencils and a variety of other stationery items have flooded the market threatening the local industry.... Mid-term tax reforms by June 2004 ISLAMABAD, April 14: The Central Board of Revenue (CBR) has assured the International Monetary Fund (IMF) of implementing the medium-term reform strategy (MTRS) of the tax administration by end of June... Banks wary about falling T-bill yields KARACHI, April 14: The fall in Treasury bill yields is expected to slow this week amid a growing view among banks that yields have fallen too much and is starting to... Oil prices up LONDON, April 14: Oil prices rose on Monday after initially slipping amid hopes that the war in Iraq is drawing to a close, as dealers fell prey to fears about when... KSE 100-share index crosses 2900-point barrier KARACHI, April 14: Stocks extended the weekend gains on Monday as leading institutional traders were not inclined to take a technical breather despite postponement of the PSO bidding date amid predictions... Rs150.3bn revenue target set for Q4 ISLAMABAD, April 14 : The tax authorities have set Rs150.3 billion target for the forth quarter (April-June) aimed at realising Rs460.6 billion target for 2002-03.... Corporates may give mixed results KARACHI, April 14: Corporates are expected to turn out a mixed bag of results as quarterly financial figures are released this month and the next. The oil, PSF, auto and gas... Bush to seek $100m for developing states WASHINGTON, April 14: The Bush administration said on Monday it will ask Congress for an additional $100 million in the next fiscal year for the World Bank for providing interest-free loans... SBP extends write-off scheme KARACHI, April 14: The State Bank has extended up to June 30, 2003, the scheme designed for write-off of bank loans and communicated to banks in October last year. The scheme... State Bank invites comments KARACHI, April 14: The State Bank has invited views and suggestions on the draft of Prudential Regulations it has been revising.... NWFP misses own receipts target PESHAWAR, April 14: The NWFP government netted slightly over Rs1.8 billion through the provincial own receipts (PORs) during July-February 2002-03 leaving little chance for the province to meet its annual target,... Active trading on cotton market KARACHI, April 14: The cotton market on Monday reopened on a higher note as leading spinners indulged in big-lot business on the perception that post-Iraq war export scenario could undergo a... Taxation pact KARACHI, April 14: The President of Pakistan Japan Business Forum (PJBF), Farrukh Sheikh, has urged the government to enter into a pact on priority basis for avoidance of double taxation with... FMA elections KARACHI, April 14: Country treasurer of the Mashreq Bank, Nasim Akbar has been re-elected as president of Financial Markets Association of Pakistan (FMA) for a second time in a row. Masroor... UAE expects lion share in Iraqi business DUBAI, April 14: The business community in the UAE is hoping for a boom in its trade with Iraq and is expecting to get the lion’s share in $2.5 billion earmarked... China’s economy BEIJING, April 14: China’s economy grew 9.9 percent from a year ago in the first quarter, the country’s highest growth rate in six years, state press reported on Monday. China’s industrial... Karachi Port operations KARACHI, April 14: Four ships carrying containers and to load naphtha are expected to arrive at the outer anchorage on Tuesday, according to KPT sources....

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