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June 26, 2003 Thursday Rabi-us-Sani 25,1424 SBP leaves huge liquidity in market: T-bills yield falls KARACHI, June 25: The SBP did not allow banks on Wednesday to invest large amounts of surplus liquidity in treasury bills, thus preparing the market to participate aggressively in the upcoming... Govt may miss deadline: Wapda corporatization ISLAMABAD, June 25: The government is likely to miss June 30, 2003 deadline for legal transfer of Wapda assets and liabilities to 12-corporate companies and grant of tax exemptions to these... Export refinance limits extended KARACHI, June 25: Banks may continue to avail export refinance from the State Bank till their new limits are finalized for the next fiscal year or by end of September 2003... TCP pays Rs89.63m to sugar mills KARACHI, June 25: The Trading Corporation of Pakistan has further disbursed Rs89.630 million to eight sugar mills being the cost of 5,604 tons sugar purchased by the corporation.... Informal paint makers capture 80pc market KARACHI, June 25: Paint makers in the informal sector have captured 80 per cent of the market share in the last few years owing to shift of consumers’ demand towards low... GST relief for utility stores under study ISLAMABAD, June 25: The government is considering a proposal to compensate the Utility Stores Corporation (USC) against collection of GST on sale of goods at its outlets and enhance its quota... Oil prices rocket LONDON, June 25: Oil prices rocketed on Wednesday after weekly figures for US crude inventories showed an unexpected drop, confounding traders’ expectations that they were on the way up.... Banks, DFIs to pay returns in 20 days KARACHI, June 25: The State Bank has asked all banks and DFIs to ensure that returns on investments and deposits are declared and paid within 20 days of closing of the... State Bank warns banks on fake cheques KARACHI, June 25: The SBP has asked all banks to take certain measures to check printing of fake cheques by unauthorized printers on sub-standard paper.... Stocks gain 41 points on US aid package KARACHI, June 25: The initial investors’ reaction to a $3-billion US aid package was fairly encouraging as institutional-led support figured prominently on all the counters on Wednesday, pushing the KSE 100-share... Home loan NEW YORK, June 25: The number of US homeowners looking to refinance a home or applying for a loan to buy a home fell last week as rates rose from their... Trade missions seek incentives: Tapping new markets ISLAMABAD, June 25: Pakistan’s trade missions abroad have recommended a string of proposals for consideration in the forthcoming trade policy 2003-04 aimed at facilitating and increasing the volume of exports.... Interaction with Kenyan businessmen urged KARACHI, June 25: Kenyan High Commissioner Mohammad Omar Soba on Wednesday said there was great scope for Pakistani goods in Kenyan market as they could well compete against costlier imports from... Trading remains low on cotton market KARACHI, June 25: Physical trading on the cotton market on Wednesday remained at a low ebb as spinners were not inclined to make fresh commitments despite the fact that some of... Karachi Port operations KARACHI, June 25: Five ships carrying containers and chemicals are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... General Tyres expanding capacity KARACHI, June 25: General Tyres is expanding its production capacity to 1.3 million tyres per year from 1 million with an investment of Rs500 million, Haroon Zuberi, the Managing Director of... TMA stands for social compliances KARACHI, June 25: Towel Manufacturers’ Association of Pakistan (TMA) has advised the Export Promotion Bureau to discard the policies of SROs, circulars and public notices and instead should assist exporters in... Tea prices COLOMBO, June 25: Sri Lankan tea prices were mixed at the latest auction on Wednesday with high growns dipping but low-grown teas seeing improved prices after part of the crop... Indian rupee MUMBAI, June 25: The Indian rupee ended slightly weaker on Wednesday, but off an intra-day low hit due to month-end dollar demand, while premiums on forward dollars climbed in anticipation of... Section 40-B of ST Act resented FAISALABAD, June 25: The All Pakistan Sizing Industries Association has demanded of the federal government to withdraw the amended section 40-B of the Sales Tax Act, otherwise it would destroy the...

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