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September 7, 2003 Sunday Rajab 9, 1424 Privatization fetches Rs7.6bn in 8 months ISLAMABAD, Sept 6: The Privatization Commission has carried out privatization worth Rs7.6 billion in the first eight months of the present government through the sale of government shareholdings in the capital... Banks’ profits surge 117pc KARACHI, Sept 6: The after-tax profit of commercial banks listed at the Karachi Stock Exchange (KSE) during six months (Jan-June 2003) recorded a surge of 117 per cent.... SBP seeks credit data in 10 days KARACHI, Sept 6: The State Bank has asked all banks and other financial institutions to submit to it online the monthly credit data of their borrowers of half a million rupees... Wapda, KESC losses need to be rectified: IMF ISLAMABAD, Sept 6: The International Monetary Fund (IMF) has expressed its concern over Wapda and KESC’s continued transmission and distribution losses.... SPI moves up by 0.35 per cent ISLAMABAD, Sept 6: Sensitive Price Indicator (SPI), pushed by yet another hike in the cost of carbon fuels, shot up by 0.35 per cent during the week ending Sept 4, 2003,... Investment in foreign markets falls UNITED NATIONS, Sept 6: Investment in foreign markets fell to $651 billion in 2002, a drop blamed on the slow global economy, a UN study said on Friday.... Arab states jobless rate rises CAIRO, Sept 6: Unemployment in the Arab states stands at 19.4 per cent of their total 90-million strong active population, according to figures disclosed on Saturday at an inter-Arab economics conference... Opec to maintain supply KUWAIT, Sept 6: Kuwait’s energy minister Ahmad al-Fahd al-Sabah said on Saturday that he believes OPEC’s current... Pakistan’s global investment rating KARACHI, Sept 6: Pakistan’s potential performance rating on foreign direct investment (FDI) has dropped from 72 in 1989-90 to 129 1999-2001, according to an UNCTAD report.... Industrial sector growth up by 5.18pc ISLAMABAD, Sept 6: The overall production growth of 39 Large Scale Manufacturing items was recorded 5.18pc in July 2003 as compared to same period last year.... Exceptional flexibility quota ISLAMABAD, Sept 6: The European Commission authorities have finally agreed to release 4,000 tons of Exceptional Flexibility quota for 2003 in categories 6, 9 and 20.... Taxation treaty with Vietnam ISLAMABAD, Sept 6: A two-member tax officials delegation of Vietnam will arrive here on Sunday to initiate the second round of negotiations on signing bilateral convention on avoidance of double taxation... Promotes free trade among unequals KARACHI: Like people of all other developing countries, Pakistanis too consider the World Trade Organisation (WTO) a highly bureaucratic institution that impinges on their national sovereignty and is forcing globalization on... ‘We see it more as an opportunity’ ISLAMABAD: Pakistan at Cancun would stress on the developed countries to scale down their tariffs on imports of agriculture and industrial products from developing countries to help them overcome poverty and... NWFP industry fearing another hit PESHAWAR: With well over 40 per cent of the total number of industrial units established in NWFP already experiencing closure, the feeble industrial sector of the Frontier province appears to be... Banks alert but not feeling threatened KARACHI: At the Cancun ministerial conference Pakistan and other developing nations will ask the developed countries to make room in the agreement on agriculture (AOA) for reducing farm subsidies. If this... Balochistan wants subsidies to stay QUETTA: Balochistan’s agriculture and industry would badly be hit by the implementation of WTO agreement in 2005 when subsidies on electricity and farm sector would be withdrawn, leading businessmen, economists and... Small units to suffer most in post-WTO era LAHORE: “WTO? Oh, phasing out of textile quota!” It is how most businessmen in Punjab react to questions about the possible impact of the WTO regime on their businesses and export.... Textile industry faces non-tariff barriers ISLAMABAD: The major textile exporting countries including Pakistan will face yet another dilemma in the post-textile quota regime when the developed countries will take advantage of non- tariff barriers (NTB) for... Protection for domestic farm items urged ISLAMABAD: Developing countries, including Pakistan, should put up a demand at the Cancun summit that under the garb of market access developed countries should not press for reduction in duties for...

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