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October 25, 2003 Saturday Sha’aban 28, 1424 Sindh ignores constitutional demand: WB: Budget-making KARACHI, Oct 24: The World Bank has found the Sindh government failing to observe the implementation of constitutional requirements “in letter and spirit” in annual budget-making exercises.... Banks, DFIs fear withdrawals from panicky savers: Reporting to CBR KARACHI, Oct 24: The State Bank has not withdrawn its circular of June 30, 2003 that made it compulsory for the banks and DFIs to report to the CBR details of... Licences to new oil companies to be restricted ISLAMABAD, Oct 24: The federal government has agreed with the oil companies to restrict new companies from starting oil marketing business in the country.... SBP pumps in Rs3.5bn ahead of Ramazan KARACHI, Oct 24: The State Bank on Friday pumped into banking system Rs3.5 billion to keep banks liquid ahead of Ramazan. People withdraw money from banks ahead of Ramazan to avoid... Cotton crisis: FCA meeting delayed MULTAN, Oct 24: The meeting of the Federal Committee on Agriculture (FCA), which was scheduled to be held on October 25 (Saturday) in Islamabad, has reportedly been called off.... Engro posts Rs362m profit KARACHI, Oct 24: Engro Chemical Pakistan Limited posted net profit for the quarter ended September 30, 2003 at Rs362 million, compared with Rs440 million attained in the same period last year.... Hubco profit falls by 13pc in July-Sept KARACHI, Oct 24: The Hub Power Company Limited (Hubco) announced financial results for first quarter ended September 30, 2003, posting net profit of Rs1,276 million. The profit was 13 per cent... Termination Aptma receives no formal request LAHORE, Oct 24: The All Pakistan Textile Mills Association (Aptma) said on Friday it had not received any formal request for termination of membership from individual member companies of the Kohinoor... US energy bill WASHINGTON, Oct 24: Senate and House energy bill negotiators will not meet on Tuesday to vote on the final language of the legislation because the ethanol tax credit remains “a major... Bulls stage comeback, index recovers 95 points KARACHI, Oct 24: Stocks on Friday staged a robust recovery on active short-covering by leading investors at the lower levels amid moderately brisk trading. The KSE 100-share recovered 95 points and... Pakistan to negotiate PTA with Iran, Turkey ISLAMABAD, Oct 24: Pakistan has decided to start negotiations for entering into preferential trade agreements (PTAs) with two neighbouring countries — Iran, Turkey — to increase its share in the regional... Lint prices continue upward journey KARACHI, Oct 24: Cotton prices on Friday reacted bullishly to fresh limit-gains in the New York cotton futures followed by strong speculative buying aided by reports of global shortage of the... Pakistan, Vietnam to enhance trade ISLAMABAD, Oct 24: Pakistan and Vietnam will strive to enhance bilateral trade, it was agreed during a meeting between Finance Minister Shaukat Aziz and the Vietnamese Vice Minister of Trade, Mr... CBR drive to register 0.3m more taxpayers ISLAMABAD, Oct 24: The Central Board of Revenue has started a drive for tapping around 0.3 million more potential taxpayers for registration with the income tax department during the year 2003-04.... IBA-CBR agreement signed KARACHI, Oct 24: The Central Board of Revenue (CBR) and Institute of Business Administration (IBA) signed here on Friday an agreement to start an MBA programme in tax management.... Karachi Port operations KARACHI, Oct 24: Five vessels carrying steel scrap, chemicals and to load molasses are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Preferential trade to benefit OIC states ISLAMABAD, Oct 24: Commerce Secretary Kamal Afsar has said that preferential trading arrangement among the OIC-member states would result into uplifting of all the Islamic countries.... Port Qasim KARACHI, Oct 24: Two container ships, Ayrshire and E.R Albany, arrived at the outer anchorage of Port Qasim on Friday, according to a PQA press release.... European stocks inch up LONDON, Oct 24: European stocks edged higher on Friday but investors remained nervous about corporate earnings and whether the recent equities rally may be derailed by expected higher interest rates.... Kenyan tea output rises NAIROBI, Oct 24: Kenyan tea production rose by 14.3 per cent in September 2003 against the same month a year ago boosted by unexpected rainfall, the Tea Board of Kenya (TBK)...

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