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June 7, 2003 Saturday Rabi-us-Sani 6, 1424 58pc NITL shares offered for sale ISLAMABAD, June 6: The Privatization Commission has offered for sale the 58 per cent shares and management control of the National Investment Trust Limited (NITL), directly or indirectly owned by the... Industrial POL offtake registers 2.1pc growth KARACHI, June 6: The consumption of petroleum, oil and lubricants (POL) has registered a growth of 2.1 per cent in white oil products (petrol, diesel, HOBC and JP-1) during July-May 2002-2003... Steps under way to check tax evasion: Tobacco industry ISLAMABAD, June 6: The government will introduce strict budgetary measures to curb the persistent tax evasion by the tobacco industry, causing an annual loss of around Rs6 billion to the national... Farm credit up by 7.5 per cent ISLAMABAD, June 6: Agriculture credit provided by various financial institutions amounted to approximately Rs37.62 billion during the first nine months of the current financial year as compared to Rs35 billion in... Gulf states growth DUBAI, June 6: Gulf states must institute major diversification of their oil-dependent economies and open up to foreign investors to boost sustainable growth, the International Monetary Fund (IMF) said on Friday.... Trade deficit stands at $1.17bn ISLAMABAD, June 6: Pakistan incurred a deficit of $1.17 billion (Rs68.38 billion) in foreign trade during the first 11 months of the current financial year, the aggregate export-import figures compiled by... Fertilizer prices may be cut by Rs20 ISLAMABAD, June 6: The government is likely to announce a Rs20 per 40-kilogramme reduction in the price of fertilizer in the budget 2003-04, an official told dawn on Friday.... New Jubilee Insurance sets sights on stocks KARACHI, June 6: New Jubilee Insurance Company recorded about 22 per cent increase in its investment income during the first quarter of this fiscal year but like all other corporates it... ‘Business forums sans FPCCI nod illegal’ KARACHI, June 6: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has taken strong exception to the ‘mushroom growth’ of business forums and alliances and termed them ‘illegal and... Humayun leaves for US ISLAMABAD, June 6: Commerce Minister Humayun Akhtar Khan on Friday left for the United States to formally seek textile quota re-configuration providing maximum market access for the country’s textile products in... KSE-100 index hits new high ahead of budget KARACHI, June 6: Stocks on Friday finished the pre-budget session on a cautious note as investors played safe despite impressive economic indicators amid fears of an opposition protest over the LFO... $25bn Saudi gas initiative to be restructured RIYADH, June 6: With the shelving of the prime project in the $25 billion Saudi gas initiative, the Core Venture 1 worth $15 billion, it is now apparent that the entire... Ginners not ready to lower asking price KARACHI, June 6: The cotton market on Friday passed through the pre-budget session without showing any sign of normal trading as ginners held on to their positions unwilling to sell below... Resumption of Iraqi oil exports seen in July NICOSIA, June 6: Regular Iraqi oil exports are not expected to restart until early July at the earliest, the Middle East Economic Survey (MEES) reports in its Monday edition.... Europe’s outlook remains cloudy BRUSSELS, June 6: The European Central Bank’s cut in interest rates could help kickstart Europe’s ailing economy, but recovery remains far from certain amid stubbornly weak confidence and a strong euro,... FTO orders refund ISLAMABAD, June 6: The Federal Tax Ombudsman (FTO), Justice (Retd) Saleem Akhtar has asked collector of customs appraisement, Karachi, to immediately release the refund of a complainant.... Dollar gains vs euro LONDON, June 6: The euro fell sharply against the dollar on Friday on news that the US economy lost many fewer jobs in May than had been feared.... Karachi Port operations KARACHI, June 6: Five ships carrying containers, general cargo, chemicals and to load ethanol are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Afghanistan rebuilding BISHKEK, June 6: The representatives of 10 countries from Central Asia and its environs will meet here next week to discuss the reconstruction of Afghanistan, Kyrgyzstan’s foreign ministry said on Friday.... Palm oil prices fall KUALA LUMPUR, June 6: Malaysia’s palm oil futures were softer on Friday due to news of favourable weather in India and the United States, traders said....

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