08 February 2004 Sunday 16 Zilhaj 1424 Provinces seek govt's clear-cut policy: Sales tax on services KARACHI, Feb 7: All the four provinces have sought from the federal government a precise definition of sales tax on services. They also want to know a clear demarcation between the services that falls within the federal domain ... Joint stock co for textile city to be set up KARACHI, Feb 7: A joint stock company (JSC) with a task to look after the affairs and management of the proposed textile city near Port Qasim will be set up in two weeks time and the first meeting of its shareholders will be held on Monday. ... Economy with virtues vs de-regulated market KARACHI, Feb 7: A decade or more of management of national economies by technocrats worldwide, has provoked a debate whether economies with virtues or de-regulated markets, perform better. ... Govt to raise Rs1.74bn through SSGC offering KARACHI, Feb 7: The government is expecting to be able to comfortably raise the targeted Rs1.74 billion, through the secondary public offering of shares in Sui Southern Gas Company Limited (SSGC). ... Trade gap widens to $974m in 7 months ISLAMABAD, Feb 7: Foreign trade deficit rose further to $974.17 million (Rs55.99 billion) during the first seven months of 2003-04, over the corresponding period of previous year. ... Pakistan, Singapore discuss free trade SINGAPORE, Feb 7: Finance Minister Shaukat Aziz said on Saturday he had discussed a possible free trade agreement (FTA) with Singapore during a meeting with Prime Minister Goh Chok Tong. ... Pakistan, Yemen JMC meets on 14th ISLAMABAD, Feb 7: Ghaleb Saeed Al-Adoofi, Ambassador of Yemen to Pakistan on Saturday called on Federal Minister for Industries and Production, Liaqat Ali Jatoi and discussed matters of mutual interest relating to Industrial sector. ... $ down 0.7pc in seven months KARACHI, Feb 7: The US dollar lost 41 paisa or 0.7 per cent of its value against the rupee in the inter-bank market during the first seven months of this fiscal year. ... Evaluation reports being processed: 5 power projects ISLAMABAD, Feb 7: Pakistan Power and Infrastructure Board (PPIB) will soon finalize pre-qualification of various companies for five power projects, worth more than $1 billion, in gas ... Expatriates urged to buy SSGC shares ISLAMABAD, Feb 7: Privatization and Investment Minister Dr Abdul Hafeez Shaikh here on Saturday urged overseas Pakistanis to subscribe to the secondary public offering of Sui Southern Gas Company shares opening from Monday. ... Iran asked to relax tariff barriers KARACHI, Feb 7: Participants of a seminar on Saturday noted that like Pakistan, Iran should relax tariff barriers and visa policy to increase bilateral trade. ... Agro EPZ project reviewed KARACHI, Feb 7: The development of an Agro Export Processing Zone project was reviewed by Sindh Food Minister Arif Mustafa Jatoi at a meeting here on Saturday. ... Cotton, yarn price hike hits small industries FAISALABAD, Feb 7: Textile ancillary industry is knee-deep in crisis following further increase in the prices of cotton and polyester yarn during the last two weeks. ... Cotton market rules steady KARACHI, Feb 7: The cotton market on Saturday ruled steady as ginners were not inclined to lower their asking prices owing to an expected pressure on ready supplies amid fears of a short crop. ...

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