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July 16, 2003 Wednesday Jumadi-ul-Awwal 15, 1424 GDP growth aimed at 6.5pc in five years KARACHI, July 15: Macroeconomic stabilization will continue to remain focus of all economic policies of the government for the next five years during which the plan is to modestly raise the... Stocks plunge on rules change KARACHI, July 15: The KSE 100-share index on Tuesday plunged by 129 points or 3.5 per cent followed by panic selling by all and sundry triggered by changes in the broker... Special tax free industrial zone under study ISLAMABAD, July 15: Commerce Minister Humayun Akhtar Khan said on Tuesday the government is planning to set up a special tax free industrial zone for promotion of foreign investment and industrialization.... MCA begins probe into formation of cement cartel ISLAMABAD, July 15: Monopoly Control Authority (MCA) has opened investigations into alleged formation of a cartel by the cement industrialists as evident from the fact that the cement price has not... Oil prices fall LONDON, July 15: Oil prices fell slightly in choppy trading on Tuesday as concerns about the imminent arrival of Hurricane Claudette off the oil-rich coast of Texas were offset by predictions... Auto sector registers robust growth in 2002-03 KARACHI, July 15: The fiscal 2002-03 concluded with a promising note for the entire auto sector, marked by rising sales of cars by 46 per cent followed by 56 per cent... General Tyre KARACHI, July 15: The 10-rupee share in General Tyre and Rubber Company of Pakistan Limited is now trading at Rs57.20; at the beginning of the current year, it was priced at... ECO moot discusses uniform tariffs ISLAMABAD, July 15: The second ministerial meeting of Economic Cooperation Organization (ECO) here on Tuesday started discussions on the proposed agreement on trade to work out a uniform tariff for all... Govt to increase wheat price ISLAMABAD, July 15: Minister of State for Food, Agriculture and Livestock Sikandar Hayat Khan Bosan assured the farmers here on Tuesday that the government would suitably increase the support price of... Enforcement wing ISLAMABAD, July 15: The Central Board of Revenue (CBR) is planning to set up an enforcement wing within the board for effective application of tax laws and bring more taxpayers under... India-BD trade talks fail to make headway DHAKA, July 15: Prime Minister Khaleda Zia has told India’s visiting External Affairs Minister Yashwant Sinha that increased trade among South Asian neighbours would go a long way to make the... EOBI asked to go for direct investment KARACHI, July 15: Labour, Manpower and Overseas Pakistanis Minister Abdus Sattar Lalika on Tuesday asked the Employees Old Age Benefit Institution (EOBI) to go for direct investment and explore viable and... Prices keep rising on cotton market KARACHI, July 15: Cotton market on Tuesday showed firm trend as new crop prices are heading to hit the seasonal high of Rs2,400 per maund as mill demand is progressively picking... Rs150m for crop maximization ISLAMABAD, July 15: The government will provide Rs150 million for completion of Crop Maximization Project aimed at enhancing productivity of agriculture sector by 30 to 40 per cent on sustainable basis.... EU stability pact BRUSSELS, July 15: EU economy and finance ministers on Tuesday pushed aside calls to soften European Union’s Stability and Growth Pact, but the raging debate over how to apply its rules... Investment prospects in Iraq SINGAPORE, July 15: Unlimited investment opportunities await Asian businesses in Iraq if they are not deterred by the continuing violence and long rebuilding process in the war-ravaged country, senior US officials... Karachi Port operations KARACHI, July 15: Six ships carrying containers, gas oil and to load general cargo are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Romania seeks investment KARACHI, July 15: Romanian economic counsellor in Pakistan Czar Paun has invited Pakistani businessmen and industrialists to invest in his country.... Port Qasim KARACHI, July 15: Two ships, Chemstar Eagle and Al-Masi carrying edible oil and coal, were arranged berthing at Multipurpose Terminal during the last 24 hours, said PQA press release on Tuesday.... Ratings LAHORE, July 15: The Pakistan Credit Rating Agency (Pacra) has maintained both long-term and short-term ratings of Tri-Pack Films Ltd at “A+” (single A plus) and “A1” (single A one), respectively....

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