09 January 2004 Friday 16 Ziqa'ad 1424 Railways may be privatized partially ISLAMABAD, Jan 8: The Pakistan Railways is likely to be privatized partially to help minimize its losses and make the organization financially viable. Official sources told Dawn here on Thursday ... High levels of debt depress growth: IMF ISLAMABAD, Jan 8: High levels of debt can depress economic growth in low-income countries like Pakistan through its effect on the efficiency of resource use, says a latest study of the International Monetary Fund (IMF). ... Foreign fund enters financial market KARACHI, Jan 8: With the launch of Crosby Dragon Fund on Thursday, Pakistan saw the entry of first multinational-managed foreign fund into its financial markets. ... Export target ISLAMABAD, Jan 8: The government has set $6.280 billion as export target for the second half (January-June) of the current financial year against $5.963 billion earned during the same period last year, an increase of 5.31 per cent. ... SNGPL revenues may rise to R67bn LAHORE, Jan 8: Sui Northern Gas Pipeline Limited (SNGPL) revenues are expected to shoot up from the last year's Rs46 billion to Rs67 billion this year, according to its senior officials. ... Enhanced role of leasing stressed KARACHI, Jan 8: The Securities and Exchange Commission of Pakistan (SECP) has advised leasing companies and modarabas to aim at multi-dimensional growth to achieve an enhanced role in the financial sector of the country. ... Research study on SMEs ISLAMABAD, Jan 8: Securities and Exchange Commission of Pakistan considers the promotion of small and medium enterprises (SMEs) pivotal to the development of corporate sector. ... Euro slips against rupee KARACHI, Jan 8: The euro on Thursday lost 48 paisa against the rupee in the inter-bank market and 90 paisa in the open currency market following a slight recovery of the dollar in international currency markets. ... WB-IFC fact-finding mission ISLAMABAD, Jan 8: The government was committed to improving the private sector by facilitating them for increasing their productivity and efficiency. ... Saudi firm KARACHI, Jan 8: A Saudi investment group has shown willingness to enter into a joint venture leasing setup to exclusively finance the needs of small and medium enterprises. ... OGDCL shares ISLAMABAD, Jan 8: The Privatization Commission has announced that the physical shares of Oil and Gas Development Company (OGDCL) along with the transfer deeds will be delivered to the bankers to the offer by January 9, 2004. ... 4 bidders shortlisted for wheat import KARACHI, Jan 8: Pakistan has shortlisted one Australian and three US exporters to negotiate price and quality for the import of 150,000 tons of milling wheat, a government official said on Thursday. ... Faletti's Hotel pre-bid moot on 12th ISLAMABAD, Jan 8: Privatization Commission is holding a pre- bid conference for Faletti's Hotel, Lahore on January 12. ... 137 cos put accounts on websites ISLAMABAD, Jan 8: The facility provided by the Securities and Exchange Commission in May last to place their quarterly accounts on their websites has so far been availed of only by 137 out of 700 listed companies. ... Spinners, mills cut daily intake KARACHI, Jan 8: The cotton market showed a slight weakness on Thursday but ginners were not inclined to lower their asking prices despite steep decline in New York cotton futures. ... Energy scrips receive massive battering KARACHI, Jan 8: Stocks on Thursday experienced a modest correction after a sustained run-up followed by profit-selling in leading shares caused by negative reports about the final bidding date for the privatization of controlling shares of PSO to one of the shortlisted bidders. ...

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