21 July 2004 Wednesday 03 Jamadi-us-Saani 1425 Punjab yet to notify lifting of ban: Wheat movement KARACHI, July 20: Price of 100 kg wheat bag, which had declined to Rs1,125 per bag on Friday from Rs1,200 after a decision of allowing inter-provincial wheat movement, has again started climbing up due to delay in issuance of notification by the Punjab government. ... Centralized system rules out role for PAs: Fiscal policies KARACHI, July 20: Pakistan's fiscal system is highly centralized and virtually there is no room for the provincial legislatures and legislators to play any role in framing of the fiscal policies. ... Balochistan to have model quarry ISLAMABAD, July 20: Federal Commerce Minister Humayun Akhtar Khan said on Tuesday that his ministry would set up a model quarry in Balochistan to boost the export of marble, gems and granite. ... Rupee weaker against dollar KARACHI, July 20: The rupee extended losses on Tuesday because of increased dollar demand to cover import-related payments, dealers said. The dollar ended at Rs58.27, up from Rs58.25 on Monday. ... Govt help sought to stabilize market: Falling cotton prices LAHORE, July 20: Textile millers on Tuesday warned that the losses being incurred by them as a result of the crisis unleashed by the falling cotton prices will cause liquidity crunch for them and force most mills to default on their bank loans "if it is not handled prudently and timely". ... Exporters advised to avail DTRE scheme KARACHI, July 20: Central Board of Revenue chairman Mohammad Abdullah Yousuf has advised the business community to take advantage of the mechanism of alternate dispute resolution that is applicable to income tax, customs, central excise, etc. ... Phosphatic fertilizer: tax rate cut to 1pc ISLAMABAD, July 20: The government has reduced the rate of withholding tax from 6 per cent to 1 per cent on import of phosphatic fertilizers. ... Drawback on sport goods lowered ISLAMABAD, July 20: The Central Board of Revenue has revised downward rates of duty drawback on export of sport goods. The new rates of duty drawback will be applicable on exports of goods from July 20, 2004 ... KSE investor education programme KARACHI, July 20: The Karachi Stock Exchange conducted an investors education programme on Tuesday. Some of the experts on equity investments addressed a gathering of about 100 participants. ... Oil prices up amid rising demand LONDON, July 20: Oil prices in New York took a step closer to record levels on Tuesday as the market fretted over rising demand, analysts said. The price of Brent North Sea crude oil for delivery in September, the new reference contract ... Cotton prices maintain downward drift KARACHI, July 20: Cotton prices on Tuesday maintained their downward drift as spinners and mills remained selective buyers followed by bearish reports from the world yarn markets. ... Stocks recover 10 points in mixed trading KARACHI, July 20: Stocks on Tuesday turned mixed as active short-covering in some of the leading base shares allowed the index to finish partially recovered but the broader market stayed weak in light trading. ...

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