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September 3, 2003 Wednesday Rajab 5, 1424 Drilling of 41 OGDCL wells approved ISLAMABAD, Sept 2: The federal government has approved Oil and Gas Development Corporation Limited’s (OGDCL) “Revised Development of Oil and Gas Resources Project” to drill 41 exploratory wells at a cost... Pakistan at disadvantageous position: Cancun round KARACHI, Sept 2: There is a greater possibility that the advantages which may be gained by Pakistan along with other developing countries from the WTO ministerial conference at Cancun, Mexico are... Market capitalization touches Rs1,000bn on KSE KARACHI, Sept 2: The total market capitalization on Tuesday soared to a historic level Rs1,000bn or about $17 bn allying analysts fears that the market’s current sustained run-up is overdone and... NTC initiates probe into GAA dumping ISLAMABAD, Sept 2: The National Tariff Commission has launched an investigation into alleged dumping in Pakistan of Glacial Acetic Acid (GAA), an industrial input, by a producer/exporter of Taiwan following a... High premiums being charged on new models: Demand outstrips supply KARACHI, Sept 2: The issue of premium on newly assembled cars, being charged by the authorized dealers, has again surfaced due to rising demand which the assemblers could not meet despite... Surveyors finalizing report on oil losses: Tasman Spirit KARACHI, Sept 2: The oil spill of more than 30,000 tons of oil from the broken and half sunk ship Tasman Spirit has raised the compensation liabilities for the insurance companies.... IT return forms notified ISLAMABAD, Sept 2: The government on Monday approved the new income tax return forms for individuals, association of persons (AOPs) and companies with minor changes in it.... WTO moot: govt may finalize plan today ISLAMABAD, Sept 2: The government is likely to finalize a strategy here on Wednesday for negotiations at the forthcoming ministerial conference at Cancun, Mexico.... Auto sector: body to look into higher car prices ISLAMABAD, Sept 2: Federal Minister for Industries and Production Liaquat Ali Jatoi has constituted a high-powered task force to look into the automobile sector to ascertain the possibility of reducing prices... Star Textile majority shares go to Matell Ltd KARACHI, Sept 2: The majority shareholding in Star Textile Mills Limited has passed from the Dadabhoy group to Matell Limited — a company incorporated in the British Virgin Islands.... Pre-bid meeting ISLAMABAD, Sept 2: Privatization Commission is all set to hold a pre-bid for sale of the assets of Karachi Hotel Project formerly allotted to Hyatt Regency Hotel Project on “as is... Ogra decision on gas sale licence today ISLAMABAD, Sept 2: The Oil and Gas Regulatory Authority (Ogra) will announce its decision on Wednesday on the applications of SSGC and SNGPL for grant of exclusive licence for transmission, distribution... NWFP revenue falls by Rs40 million PESHAWAR, Sept 2: NWFP recorded a revenue shortfall of over Rs40 million in the financial year 2002-03. The short fall was due to reduced... SECP action against 22 brokerage firms ISLAMABAD, Sept 2: The Securities and Exchange Commission of Pakistan (SECP) has taken further regulatory action against 22 brokerage companies engaged in illegal and unauthorized business under sections 472 and 88... Internet trading on ISE by year-end ISLAMABAD, Sept 2: The chairman of Islamabad Stock Exchange Chaudhry Sharif said ISE would launch internet trading by year-end.... Karachi Port operations KARACHI, Sept 2: Six ships carrying crude oil, high speed diesel and general cargo are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... KASB rating KARACHI, Sept 2: JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the medium to long-term entity rating of KASB Bank Limited to BBB- (triple B minus) from BB+ (double B plus).... BD tea CHITTAGONG, Sept 2: The average price of Bangladesh teas fell on lower overseas demand at the weekly auction on Tuesday, brokers said.... Prices decline on cotton market KARACHI, Sept 2: Cotton prices on Tuesday fell from the recent higher levels followed by hasty selling by some of the central Sindh ginners amid reports of steady arrivals of phutti.... Palm oil prices stable KARACHI, Sept 2: Pakistan’s palm oil prices were stable on the back of good local demand and dealers said on Tuesday that they expected more imports as traders build up their...

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