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July 5, 2003 Saturday Jumadi-ul-Awwal 4,1424 Allied Bank may go to professional bidder ISLAMABAD, July 4: The State Bank of Pakistan is inviting selected financial institutions and commercial banks next week to take part in the bidding of the remaining 51 per cent shares... Delay in release hits textile exports: Blocked carry-over quota KARACHI, July 4: Delay in release of blocked carry over quota and over programming (OP) by the Export Promotion Bureau (EPB) is crippling exports because exporters of value-added textile goods are... Exchange risk cover may be re-introduced: Machinery imports ISLAMABAD, July 4: The government is expected to re-introduce exchange risk cover for machinery imports for enhancing the country’s exports and allow utilization of foreign exchange reserves for project financing.... Entering new area of lending needs caution: SBP advice to banks KARACHI, July 4: The governor, State Bank, Dr Ishrat Hussain has cautioned the banks and financial institutions to engage competent people, develop right processes and acquire proper technology before entering into... NSS rates, PIBs gap shrinks KARACHI, July 4: The latest lowering of the rates of return on national saving schemes has narrowed the gap between the yield on Pakistan Investment Bonds and the NSS rates. But... Exports via Karachi customs up by 20pc KARACHI, July 4: The collectorate of customs (exports) Karachi, has registered a substantial increase of 20 per cent in exports to $8.1 billion in 2002-03 as against $6.7 billion a year... Pakistan trade team arrives in India NEW DELHI, July 4: A Pakistani business delegation arrived here on Friday in hope of boosting trade with India amid a thaw in tension between the nuclear arch-rivals, but warned that... Banks asked to indicate service charges KARACHI, July 4: The State Bank has made it clear to the banks that they can levy service charges on PLS deposits — but they will have to indicate the same... Quetta killing triggers panic-selling on KSE KARACHI, July 4: The KSE 100-share index on Friday crossed the barrier of 3,500 points but the crucial level could not be sustained owing to late panic selling triggered by reports... FPCCI finds 87 anomalies in budget 03-04 KARACHI, July 4: The budget 2003-04 budget contains over 87 irritants/anomalies in which 40 relate to customs duty, 26 to income tax and 21 relate to sales tax, says a memorandum... Trading remains slow on cotton market KARACHI, July 4: Physical trading on the cotton market on Friday remained relatively slow as spinners lent guarded support to the new crop lots from the lower Sindh ginneries amid reports... Associated Cement assets attract 21 buyers ISLAMABAD, July 4: The sale of assets of Associated Cement (Rohri) Limited having production capacity of 270,000 tons per annum has attracted 21 domestic parties.... Karachi Port operations KARACHI, July 4: Six ships carrying containers, highspeed diesel and DAP fertilizer are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... SBP body to probe borrowers’ complaints KARACHI, July 4: The State Bank of Pakistan has set up a resolution committee headed by the director of its Banking Policy Department to examine borrowers complaints.... Profit rates KARACHI, July 4: Bank Al Habib Limited has announced four per cent and 3.5pc return on ordinary saving deposits and saving deposits — monthly profit plan, respectively, for the six months... Loan write-off KARACHI, July 4: The State Bank has asked all banks and DFIs to settle up to August 31, 2003, all the cases received for write-off of irrecoverable loans and advances under... Pre-bid moot ISLAMABAD, July 4: The Privatization Commission is holding a pre-bid meeting on Saturday with the prospective investors who have submitted expressions of interest (EoIs) for Thatta Cement Company Limited.— Our Staff... Rating withdrawn LAHORE, July 4: The Pakistan Credit Rating Agency (Pacra) on Friday withdrew long-term and short-term ratings of Crescent Investment Ltd (CresBank) after the approval by the central bank of its amalgamation...

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