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August 30, 2003 Saturday Rajab 1, 1424 Efforts on to reduce power tariff: Jamali KARACHI, Aug 29: Prime Minister Mir Zafarullah Khan Jamali has asked the businessmen in particular and people in general to bear for two more years the Wapda-related higher electricity tariffs.... Customs duty on 13 items reduced ISLAMABAD, Aug 29: The federal government on Friday reduced customs duty on 13 items and converted $160 million loan to provinces under the drought emergency relief assistance (DERA) into grant.... Pakistan for relaxation in drug rules ISLAMABAD, Aug 29: Pakistan along with other developing countries at Cancun would ask for further relaxation in the WTO rules concerning patents on drugs.... Local financing to cut projected cost to 43pc: Pakistan-Iran gas pipeline LAHORE, Aug 29: The 1500-km Pakistan-Iran gas pipeline can be laid at only 43 per cent of the cost of $3.5 billion projected by multilateral lenders if the two countries agree... Indian initiatives to boost trade with Pakistan NEW DELHI, Aug 29: India on Friday announced three major initiatives to boost trade between New Delhi and Islamabad, including setting up of India-Pakistan trade website, launching an India-Pakistan CEO’s Business... WTO states make fresh bid to save drugs deal GENEVA, Aug 29: Weary trade negotiators made a new bid on Friday to overcome last-minute objections that held up a pact intended to make it easier for poor nations to import... Deposit certificates KARACHI, Aug 29: The State Bank of Pakistan said on Friday it planned to start issuing short-term certificates of deposit shortly to absorb liquidity and manage interest rates, prompting relief from... Refinance rate unchanged KARACHI, Aug 28: On Thursday, when the company announced much-awaited date of the board meeting: September 15, the price of the share in Refinance rate unchanged Limited (POL) took a massive jump... Lucky Cement KARACHI, Aug 29: On Thursday, Lucky Cement Limited unveiled financial results for the year ended June 30, 2003, posting net profit at Rs228 million. The board also recommended cash dividend at... Weekend-selling halts upward drive on stock market KARACHI, Aug 29: Heavy profit-selling in blue chips at the inflated levels at the fag-end of weekend session halted the market’s upward drive on Friday but leading bulls are not inclined... Pakistan committed to transit facility ISLAMABAD, Aug 29 : Pakistan would take further steps to provide easy, efficient and cost effective transit access to the landlocked neighbours to facilitate them in their international trade.... Ginners again raise asking prices KARACHI, Aug 29: Trading activity on the cotton market on Friday slowed down as spinners withdrew to the sidelines after ginners again raised their asking prices.... EU backs S. Arabia joining WTO BRUSSELS, Aug 29: The European Union has agreed to back Saudi Arabia’s candidacy to join the World Trade Organization (WTO), a spokesman for European Trade Commissioner Pascal Lamy said on Friday.... Jatoi asks Chinese co to make cars ISLAMABAD, Aug 29: Industries and Production Minister Liaquat Ali Jatoi has asked Dong Feng Motor Corporation to manufacture cars in Pakistan, which should be available to common man at affordable price.... Karachi Port operations KARACHI, Aug 29: The activity at the Karachi port is expected to pick up further as eight ships carrying containers, general cargo and rock phosphate are due to arrive on Saturday.... Section 73 of ST act deferred ISLAMABAD, Aug 29: The government has deferred the implementation of the provision of section 73 of the Sales Tax Act 1990 till September 30 on the persistent demand by business community.... Reservations over USAS KARACHI, Aug 29: Textile bodies have shown some reservation over the Universal Self Assessment Scheme (USAS) and believe that without allowing some immunity it would not be effective.... PICIC declares 15pc bonus share KARACHI, Aug 29: Pakistan Industrial Credit and Investment Corporation (PICIC) has declared a bonus share of 15 per cent for the period ending June 30, 2003.... Revenue collection cost ISLAMABAD, Aug 29: The constant decline in the cost accruing on revenue collection during the last nine years has resulted in lowering overall efficiency of tax officials.... Intervention TOKYO, Aug 29: Japan’s finance ministry said on Friday it did not intervene in foreign exchange markets from July 30 through August 27 despite a series of warnings by Japanese authorities...

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