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June 3, 2003 Tuesday Rabi-us-Sani 2, 1424 PC Board to offload four major units’ shares ISLAMABAD, June 2: The Privatization Commission Board (PCB) on Monday decided to offload around Rs4 billion shares of four major public sector entities — PTCL, NBP, SSGC and OGDCL — till... Onion, tomato, poultry become costlier KARACHI, June 2: Increase in prices of onion, tomato, poultry and ginger in the last one month put some burden on consumers’ monthly expenditure.... Austrian firm offers to expand Pakistan Steel ISLAMABAD, June 2: An Austrian company has offered to expand the Pakistan Steel from 1.1 million tons per year to 1.5 million tons and consequently to 3 million tons per year... 25pc fall in wheat output likely LAHORE, June 2: The high hopes of the government for another bumper wheat crop have been dashed to the ground as there has been a 20-25 per cent reduced yield across... Cement makers demand 50pc cut in CED KARACHI, June 2: Cement producers are demanding 50 per cent cut in Central Excise Duty (CED) on cement — from Rs50 to Rs25 per bag, which analysts say would be justifiable... Pak Kuwait to set up Islamic insurance co KARACHI, June 2: Pak Kuwait Investment Company (PKIC) is expected to set up an Islamic insurance company as a joint venture with some foreign investors from the Gulf and Far East.... Income Tax Law may be amended ISLAMABAD, June 2: The government is considering various proposals to introduce further amendments in the new income tax law 2001 to make it more user-friendly.... IDBP refuses to settle 3 firms’ loans LAHORE, June 2: Industrial Development Bank of Pakistan (IDBP) has declined to settle the loans of its four delinquent borrowers under the State Bank’s guidelines on the write-off of irrecoverable loans... Oil prices up LONDON, June 2: Oil prices rose to a two-month high here on Monday amid worries about gasoline supplies and nervousness ahead of a meeting of the Opec producer cartel next week,... KSE index recovers 4.87 points amid dull trading KARACHI, June 2: Stocks on Monday remained unsettled as investors were not inclined to take fresh positions despite reports of some positive developments on the LFO issue and a possible agreement... Increase in duty on oilseeds import sought ISLAMABAD, June 2: The edible oil manufacturers have asked the government to increase customs duty on import of oilseeds in the forth-coming budget to provide protection to the local suppliers.... Cotton market lacks lustre KARACHI, June 2: Trading on the cotton market on Monday resumed on a dull note where physical business remained at a low ebb as price ideas of buyers and sellers failed... Private sector receives Rs116bn credit KARACHI, June 2: The banks have made disbursement of Rs116 billion in the private sector during 10 months of current fiscal year, said Governor State Bank of Pakistan (SBP), Dr Ishrat... Karachi Port operations KARACHI, June 2: Seven ships carrying containers, high speed diesel and to load naphtha and molasses are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Energy alternatives TOKYO, June 2: Oil and gas will continue to trump renewable energy alternatives as the world’s main source of energy for at least another 20 years, BP chief executive..... PSMA seeks waiver of sales tax KARACHI, June 2: Pakistan Sugar Mills Association (PSMA), Sindh Zone, has suggested the government to exempt sugar mills from sales tax as it was a food item.... Port Qasim KARACHI, June 2: Three ships carrying edible oil, general cargo and coal were allotted berths at Multipurpose Terminal and Steel Jetty during the last 24 hours, says a PQA press release... Dollar up by Bush remarks LONDON, June 2: The dollar drove back the euro on Monday after US President George W. Bush reaffirmed the US commitment to a strong dollar, with all eyes in the market... Palm oil fimer KUALA LUMPUR, June 2: Malaysia’s palm oil futures pressed upwards on Monday, boosted by chart-driven short covering after benchmark August contract briefly broke the 1,420 ringgit resistance level, traders said.... Exports fall JAKARTA, June 2: Indonesian exports declined slightly to $5 billion in April from $5.07 billion in March, the Central Bureau of Statistics said Monday....

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