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August 1, 2003 Friday Jumadi-us-Sani 2, 1424 Pressure mounts on cement producers: Price reduction KARACHI, July 31: Cement producers continue to be under pressure from various quarters to reduce prices. The current retail price at Rs220 per bag, up from Rs175 per bag in the... Banks make Rs7bn recovery in 6 months: NPLs at Rs162bn KARACHI, July 31: The stock of loan defaults of all banks fell from Rs133.8 billion at end-June 2002 to Rs124.2 billion at end- June 2003 showing an improvement of Rs9.6 billion... Jatoi assures more incentives for industry LAHORE, July 31: Industries and Production Minister Liaquat Ali Jatoi on Thursday said that provision of more incentives and rationalization of tariff structure could help expedite industrialization process in the country.... US firm ready to invest $1.5bn in 3 projects: Hydel power ISLAMABAD, July 31: A Washington-based company has offered to invest around $1.5 billion in Pakistan’s three hydel power projects providing an overall tariff range between 2 cents to 4.5 cents per... Body for Smeda role LAHORE, July 31: Industries and Production Minister Liaquat Ali Jatoi has constituted a three-member committee to make the role and organizational structure of Smeda more effective and pro-active for countrywide equitable... Tomato prices jump to Rs80/kg KARACHI, July 31: Suspension of arrival of trucks in the Sabzi Mandi from Balochistan has caused a phenomenal jump in price of tomato to Rs60-80 per kg, depending on the quality,... July tax collection stands at Rs23.62bn ISLAMABAD, July 31: The Central Board of Revenue collected Rs23 billion in the first month of the financial year 2003-04 against Rs23.629 billion in the same month last fiscal, showing a... KSE 100-share index crosses 3,900-point barrier KARACHI, July 31: The KSE 100-share index on Thursday finished well above the barrier of 3,900 points as bulls were not inclined to take even a technical breather in an overbought... Licence for exchange co KARACHI, July 31: The State Bank has issued another licence for setting up foreign exchange company to Eastern Union. With this the number of the licences issued so far has risen... Islamic Bank honours economists RIYADH, July 31: Dr Mohsin Khan of Pakistan and Dr Abbas Mirakhor of Iran have been jointly declared winner of the Islamic Development Bank (IDB) Prize in Islamic Economics for the... FBS plans survey to collect household data ISLAMABAD, July 31: Federal Board of Statistics (FBS) is about to start a new survey entitled “Core Welfare Indicators Questionnaire Survey” to provide household data at district level for the PRSP... Task force on WTO challenges set up KARACHI, July 31: Minister for Commerce Humayun Akhtar has constituted a task force to face ‘new challenges arising out of global trading regime’ after 2004.... Development of coal mines sought KARACHI, July 31: Experts and consultants at a seminar here on Thursday recommended faster development of existing coal mines through mechanization to meet the growing demand by the domestic industries.... FTO for rule of tax law ISLAMABAD, July 31: The Federal Tax Ombudsman (FTO), Justice (Retd) Saleem Akhtar has asked the chairman, Central Board of Revenue (CBR), to direct the senior tax officials to ensure rule of... Upward trend on cotton market KARACHI, July 31: Ginners on Thursday raised their asking prices modestly higher after spinners resumed their normal covering operations against forward sales of cotton yarn and finished textiles.... Karachi Port operations KARACHI, July 31: Three ships carrying containers, soyabean meal and logs are due to arrive at the outer anchorage on Friday, according to KPT sources.... Conversion of project: deal signed LAHORE, July 31: Maple Leaf Cement Factory Limited has signed an agreement with a leading cement plant supplier — F.L. Smidth A/S Denmark — for conversion of the existing wet process... Soyabean oil KARACHI, July 31: The Trading Corporation of Pakistan has floated a tender for the sale of 4,550 tons of soyabean oil imported from the US under 416(b) programme.—APP... NRL sell-off KARACHI, July 31: Privatization Commission on Thursday invited expressions of interest (EoIs) for the appointment of financial advisor for the privatization of National Refinery.... Palm oil lower in choppy trade KUALA LUMPUR, July 31: Malaysian palm oil futures ended lower in choppy trade on Thursday that saw speculators trying to push up benchmark October to 1,300 ringgit a ton, traders said....

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