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April 29, 2003 Tuesday Safar 26, 1424 GDP growth may surpass 4.5 pc, says ADB ISLAMABAD, April 28: Pakistan’s large scale manufacturing growth declined significantly, investor confidence remained weak and investment declined as both unemployment and fiscal deficit increased during the year 2001-02.... Pulses output to rise by 46 per cent KARACHI, April 28: Pakistan is anticipating a 46 per cent rise in the production of various pulses. The cumulative production of pulses is projected at 967,000 tons this year as compared... 306 firms declare dividend ISLAMABAD, April 28: More than half of the companies, which held their annual general meetings during the first three quarters of 2002-03, declared dividend for their shareholders, according to the data... Tax relief tied to focused outcome KARACHI, April 28: The budget for 2003-04 will provide tax incentives linked to “focused outcomes” in areas targeted for growth and employment.... PTCL profit goes up by 18pc ISLAMABAD, April 28: The Pakistan Telecommunication Company (PTCL) has earned a profit of more than Rs15 billion during the nine-month period ending on March 31.... MNCs remit $503.106m in three years ISLAMABAD, April 28: An amount of $503.106 million was remitted out of Pakistan during the last three years by 69 multi-national companies as their profit/dividend, the National Assembly was informed in... PIA profit up by 37pc in 3 months KARACHI, April 28: Pakistan International Airlines has earned an operating profit of Rs1.5 billion for the first quarter of the current year.... Oil prices slip LONDON, April 28: Oil prices fell on Monday as traders remained concerned about the prospect of excess supply on world markets after the Opec cartel raised its production quotas last week.... Chip sales AMSTERDAM, April 28: Global semiconductor sales growth slowed to 13 per cent year on year in March from 17.9 per cent in February as the industry was hit by oversupply and... PC earns Rs39bn from 30 units’ sell-off ISLAMABAD, April 28: The Privatization Commission has sold 30 industrial/commercial organizations since January 1999 to date and realized a sale proceeds of approximately Rs39 billion, the National Assembly was informed in... KSE 100-share index posts fresh gain of 13.39 points KARACHI, April 28: Trading on the stock market on Monday resumed on a higher note on active short-covering in some of the pivotals ahead of board meetings of some leading companies... Bush facing a tougher battle, at home WASHINGTON, April 28: The US Congress returns from spring break on Monday to consider President George W. Bush’s measures to revive the ailing economy.... Freight subsidy claims KARACHI, April 28: A large number of exporters have urged the Export Promotion Bureau (EPB) to extend the date of filing of freight subsidy claims up to May 31, 2003.... Physical business remains at low ebb KARACHI, April 28: The cotton market on Monday showed firm trend but physical business remained at a low ebb as spinners were not inclined to make fresh commitments owing to some... Askari Leasing Ratings LAHORE, April 28: The Pakistan Credit Rating Agency (Pacra) has maintained entity ratings of Askari Leasing Ltd. (ALL) at single A plus for long-term and single A one for short-term.... EU may release quota KARACHI, April 28: The European Union (EU) is likely to release the exceptional flexibility quota of 4000 tons not allocated in the year 2002, for towels (category 9).... Karachi Port operations KARACHI, April 28: Five ships carrying containers and raw jute and to load molasses are due to arrive at the outer anchorage on Tuesday, according to the KPT sources.... MCB cash dividend LAHORE, April 28: The Muslim Commercial Bank has announced an interim cash dividend of Rs 1.50 per share for the first quarter of 2003 ending March 31.... Betel nut containers not released QUETTA, April 28: The Collectorate Customs, Quetta, has denied the contents of a news report about release of betel nut consignments from Quetta dry port, which appeared in the April 26... FTO order ISLAMABAD, April 28: Federal Tax Ombudsman (FTO) Justice (Retd) Saleem Akhtar has asked Regional Commissioner of Income Tax (RCIT), Corporate Region, Karachi to decide the assessment case of a complainant on...

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