09 June 2004 Wednesday 20 Rabi-us-Saani 1425 New leasing scheme for farmers on cards ISLAMABAD, June 8: The Kissan Package to be unfolded by President Gen Pervez Musharraf on June 10 is expected to envisage a new leasing scheme for agriculture machinery to boost agriculture production for export-led economic growth. ... Duties on raw material may be reduced ISLAMABAD, June 8: The government would reduce duties on raw materials and basic inputs in the forthcoming budget to promote industrial activity particularly focusing on the export-oriented industry ... Interest rate likely to go up KARACHI, June 8: Expectations are building up for an immediate hike in interest rates but the State Bank wants to dampen it to ensure that no abrupt changes creep into interest rate structure. ... Hotel business declines due to blasts, unrest KARACHI, June 8: Various incidents of terrorism and unrest in the city over the last few weeks have not only cost the city dearly, but adversely affected the hotel business as well. ... 13pc reduction in Exim Bank financing cost ISLAMABAD, June 8: Following the upgradation of Pakistan's credit rating by OECD and other agencies, the Exim Bank of the United States has reduced its financing cost by 13 per cent, its first President April H. Foley stated here on Tuesday. ... Banks asked to set up complaint cell KARACHI, June 8: The State Bank has finally made it binding on the banks and development finance institutions or DFIs set up complaint cells to respond to the problems of their customers and redress the same. ... Corporate, southern regions net 0.1m taxpayers KARACHI, June 8: The Corporate and Southern Regions of Income Tax, Karachi, have netted over 100,000 new taxpayers, surpassing the target of 98,610, officials said on Tuesday. ... SSGC ships 160 meters to Germany KARACHI, June 8: The Sui Southern Gas Company (SSGC) has shipped 160 gas meters to Germany out of total supply order of 500 Renus G 1.6 type of gas meters. ... $15.254 billion purchased from open market ISLAMABAD, June 8: The government purchased $15.254 billion in four-and- half years from the open market to build up foreign exchange reserves amounting to $12.5 billion at a cost of Rs25 billion, the National Assembly was told on Monday. ... KESC sell-off govt's top priority ISLAMABAD, June 8: The privatization of KESC is top priority transaction for the government and full support is being extended to all potential bidders with a level-playing field through most transparent process. ... Trading stays firm on cotton market KARACHI, June 8: The cotton market on Tuesday stayed firm despite reports of sharp decline in New York cotton futures as ginners held on to their positions rather than following the price trend on the New York Cotton Exchange. ... Selling in cement fails to halt upward rally on KSE KARACHI, June 8: Stocks on Tuesday maintained their uppish leaning and managed to finish with an extended gain despite profit-selling in the cement sector at the highly inflated levels. ...

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