24 April 2004 Saturday 03 Rabi-ul-Awwal 1425 Japan firms for long-term plan with Pakistan: Economic development KARACHI, April 23: Business leaders of 29 Japanese companies want to lay foundations of economic development for next 50 years with Pakistan as they are convinced that "this is the most auspicious time and excellent leadership". ... Shaukat, US officials discuss trade WASHINGTON, April 23: Finance Minister Shaukat Aziz on Friday said that the Spring Meetings provided an opportunity to meet and hold bilateral discussions with World Bank and International Monetary Fund officials ... Desalination plant being set up at Keamari KARACHI, April 23: The Karachi Port Trust (KPT) is setting up desalination plants at Keamari and other port areas to meet the growing requirement of potable water by visiting ships, port users and residents. ... SBP warns exchange companies: Rising dollar KARACHI, April 23: The State Bank on Friday finally acted up to contain the rising gap between inter-bank and open market exchange rates that has made a dent into the official transfers of money from overseas Pakistanis. ... Engro earns Rs274m profit in 1st quarter KARACHI, April 23: Engro Chemical Pakistan Limited posted net profit for the first quarter (Q1) ended March 31, 2004 at Rs274 million, up from Rs234 million in the corresponding quarter of the previous year. ... Sindh sugar mills yet to pay Rs2.8bn to growers KARACHI, April 23: Sugar mills in Sindh have to pay an outstanding amount of Rs2.8 billion to growers against their purchase of cane during the current crushing season. ... US firm to set up coal gasification plant LAHORE, April 23: Industries and Production Minister Liaquat Ali Khan Jatoi on Friday said that a US-based firm, GSB Technologies, has planned to set up a coal gasification and waste-into-energy project in Pakistan at a cost of $500 million. ... Incentives for traders in budget sought FAISALABAD, April 23: Chairman, Standing Committee for Industries of the Federation of Pakistan Chambers of Commerce and Industry, Mian Zahid Anwar, has demanded of the government to announce a package of incentives ... US women chamber team due next month ISLAMABAD, April 23: The United States Commerce Department is sending a representative delegation of the Colorado Women Chamber of Commerce (CWCC) next month for initiation of joint venture with Pakistani women entrepreneurs in various sectors. ... 600 BD garment factories may face closure: Quota-free regime DHAKA, April 23: Some 600 garment factories could face closure and 800,000 garment workers become jobless as immediate fallout of the phasing out of the Multi-Fibre Arrangement in 2005, apprehends the government of Bangladesh. ... Prices move up on cotton market KARACHI, April 23: Cotton market on Friday showed firm trend as ginners further raised their asking prices in line with the international prices but spinners were not inclined to bid above Rs2,900 per maund. ... Stocks undergo massive pruning of 169 points KARACHI, April 23: The KSE 100-share on Friday took another major dip as leading base shares fell like the house of cards from their overnight highs on massive selling ...

© The DAWN Group of Newspapers, 2004