11 January 2004 Sunday 18 Ziqa'ad 1424 Safta to open new avenues for exports KARACHI, Jan 10: Industrialists are optimistic about the outcome of the South Asia Free Trade Area (Safta) treaty and do not feel threatened by its implementation when regional economic relations specially between Pakistan and India take a new turn in the next two years. ... Again on foreign investors' agenda KARACHI, Jan 10: "Pakistan is back on our agenda," says a German corporate executive on a brief familarization visit to Pakistan. "We see stability. We are looking for long-term investment. We are open to anything," Dr Andreas Otto ... Average lending rate inching up KARACHI, Jan 10: The weighted average lending rate of all the banks combined inched up 17 basis points in November but the weighted average deposit rate crept up only two basis points. ... Machinery import up by 19.65pc ISLAMABAD, Jan 10: The imports of machinery group as well as most of industrial and agricultural inputs surged during the first half of financial year 2003-04 ... Efforts on to avoid EU duty on bedlinen ISLAMABAD, Jan 10: Secretary Commerce, Kamal Afsar is currently leading a high-level delegation to EU member countries to lobby against the imposition of anti-dumping duty on Pakistani bedlinen by the European Commission. ... NBFCs raise assets by 16pc ISLAMABAD, Jan 10: The 30 NBFCs (Non-Banking Finance Companies), exclusively engaged in the business of leasing, increased their assets by 16pc to Rs51.28 billion in 2002-03, says the just-released Annual Report of the Securities and Exchange Commission of Pakistan. ... Chinese firms interested in joint venture BEIJING, Jan 10: Chinese companies are keen to set up export-oriented industries in Pakistan. A cross-section of Chinese businessmen during an interview with APP ... China, India capturing shoe market KARACHI, Jan 10: The chairman, Pakistan Tanners Association (PTA), S M Naseem, said that shoe industry was steadily shifting from Europe to China and India as both the countries are catering to the needs of buyers at cheaper rates. ... US trade team due on 19th LAHORE, Jan 10: A high-level joint delegation of the US Chamber of Commerce and the US-Pakistan Business Council will visit provincial metropolis on January 19 ... SPI moves up by 0.5 per cent ISLAMABAD, Jan 10: Sensitive Price Indicator (SPI) moved up by 0.5 per cent during the week ending Jan 8, 2004, as compared to previous week, hitting the lowest income households the hardest. ... High insurance premiums criticized: Auto loans LAHORE, Jan 10: The Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) has called for bringing insurance mechanisms of auto loans into normal audit practices. ... SRO410 extension sought KARACHI, Jan 10: Large consignments of imported accessories, raw material and fabrics used by value-added textile industry for re-export of goods are held up by the customs at the port on the expiry of SRO410, on December 31, 2003. ... Workshop on WTO regime ISLAMABAD, Jan 10: The National Tariff Commission will hold a one-day workshop on "WTO subsidies, countervailing duties, laws and procedures" to create awareness among the stakeholders. ... Prices steady on cotton market KARACHI, Jan 10: Cotton prices on Saturday remained stable at the previous levels as spinners again made selective buying mostly of fine lots against their forward sales of fine counts of cotton yarn to foreign buyers. ...

© The DAWN Group of Newspapers, 2004