11 April 2004 Sunday 20 Safar 1425 Investment treaty with US on cards ISLAMABAD, April 10: Pakistan and the United States have decided in principle to shortly sign a bilateral "investment treaty" to greatly facilitate each others' investors. ... 'Mutual funds still to go a long way' KARACHI, April 10: The Federal Minister for Finance, Shaukat Aziz, has said that the mutual fund industry has finally started to develop to a reasonable level but there still is a long way to go. ... Poverty problem largely tackled, says Shaukat KARACHI, April 10: Finance Minister Shaukat Aziz claimed on Saturday that his government "has effectively tackled the poverty problem". ... Balance of payments surplus nosedives to $119m KARACHI, April 10: The balance of payments surplus has fallen to just $119 million in the first seven months of this fiscal year from a huge $3.174 billion in the year-ago period. ... Updated anti-monopoly law to combat cartels KARACHI April 10: The existing anti-monopoly law is being updated and it's core principles are expected to be spelt out in the coming budget by finance minister Shaukat Aziz. ... KSE proposal to relax exposure rules rejected ISLAMABAD, April 10: Pakistan's market regulator said on Friday it had rejected the Karachi Stock Exchange's proposal to relax exposure rules for leveraged equity investors. ... Badla rates settle in double digit KARACHI, April 10: Carryover rates after having fluctuated either-way during the last week depending on the size of liquidity finally again settled in the double digit. ... Businessmen invited to invest in Sharjah zone KARACHI, April 10: Director general and board member of the Hamriyah Free Zone Authority (HFZA), Sharjah, Dr Rashid Al Leem, has invited Pakistani businessmen to invest in the zone as it offers attractive incentives. ... Reforms agenda to continue: CBR chief KARACHI, April 10: The Central Board of Revenue on Saturday said that reforms agenda of removing mistrust, minimizing direct contact between taxpayers and collectors and giving maximum facilities to the taxpayers will continue for attracting much-needed local and foreign investment. ... UAE businessmen meets PM ISLAMABAD April 10: Prime Minister Mir Zafarullah Khan Jamali said on Saturday that Pakistan was an investor-friendly country and it offered excellent opportunities of investment to foreign entrepreneurs and investors. ... Jatoi invites soap makers: Advisory body meeting KARACHI, April 10: Federal Minister for Industries and Production Liaquat Ali Jatoi has invited the business community to attend his ministry's 'Advisory Committee Meeting' in Islamabad on April 14. ... Smeda may sign MoU with banks: More credit facilities LAHORE, April 10: The Small and Medium Enterprises Development Authority (Smeda) is expected to sign an MoU with the Banking Association of Pakistan for enhancing credit facilities to SMEs. ... Chinese, Russian makers keen to produce vehicles KARACHI, April 10: Chinese and Russian auto makers are keen to come to Pakistan to produce affordable vehicles, Industries and Production Minister Liaquat Ali Jatoi said here on Saturday. ... Bank loans on cash flow basis sought KARACHI, April 10: The Union of Small and Medium Enterprises (Unisame) has urged the State Bank to promote the system of "discounting and factoring" to facilitate small and medium enterprises in maintaining their cash flow. ... SPI declines by 0.22pc ISLAMABAD, April 10: The Sensitive Price Indicator decreased by 0.22 per cent during the week ending April 8, as compared to the previous week, according to a weekly price review released by the Federal Bureau of Statistics here on Saturday. ... Cotton prices suffer modest decline KARACHI, April 10: Cotton prices on Saturday suffered a modest decline of Rs25 per maund as some of the ginners lowered their asking prices followed by reports of larger import of foreign lint by the mills and spinners. ...

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