30 July 2004 Friday 12 Jamadi-us-Saani 1425 Oil, gas from Chanda field to save $30 million KARACHI, July 29: Oil and Gas Development Company Limited (OGDCL) stated that the production from Chanda would gradually be increased to 13-15 mmscfd of gas and 3000 bbls per day of oil ... Rich, poor states still divided on farm trade GENEVA, July 29: A new proposal on the framework of a world trade treaty was delayed on Thursday as ministers and diplomats struggled to bridge the divide between rich and poor nations over farm trade negotiations. ... Outsourcing may be tied to dispute resolution: Cross-border ISLAMABAD, July 29: The need for resolving potential cross-border jurisdictional disputes before allowing the outsourcing of financial services in the emerging market countries has been emphasized in a report presented to the Standing Committee-3 (SC3) ... Woven garment exports may go up in 6 months: Declining cotton prices LAHORE, July 29: The declining cotton prices in the local and international markets are expected to push up export of woven garments from Pakistan in the next six months or so, say industry sources. ... Govt to speed up state units listing: Hafeez ISLAMABAD, July 29: Pakistan's government plans to accelerate the listing of state-run companies to take advantage of the strong demand for new issues, the minister for privatization and investment said. ... Another US trade team to visit Pakistan WASHINGTON, July 29: Ms Esperanza Gomez, executive director, US-Pakistan Business Council, has said that another delegation of US businessmen will visit Pakistan "next fall" i.e. around the month of October. ... PSO profit up by 4.5pc to Rs4.2bn KARACHI, July 29: Pakistan State Oil (PSO) has earned an all time high after-tax profit of Rs4.2 billion in 2003- 2004, up by 4.5 per cent from the previous fiscal despite major decline in fuel oil sales volume to 2.3 million tons. ... CBR, car dealers fail to resolve CGO issue ISLAMABAD, July 29: Tax authorities and car dealers on Thursday failed to develop a consensus on the controversial Customs General Order (CGO) issued recently by the Central Board of Revenue for import of cars. ... Drawback rates on leather goods revised downward ISLAMABAD, July 29: The government has revised downward the rates of duty drawback on export of leather goods. The new rates will be effective from July 29, 2004, said a customs notification issued on Thursday. ... IFC okays $9.25m for Karachi container terminal WASHINGTON, July 29: The International Finance Corporation (IFC) has committed $9.25 million to an investment in the Karachi Container Terminal, a project at the port of Karachi, where container traffic is increasing at over 7 per cent a year. ... Cotton market lacks normal trading KARACHI, July 29: Cotton market on Thursday lacked normal trading interest in the absence of strong demand both from the spinners and the mills. Stray lots of both the current and the new crop did change hands around the previous rates ... KSE 100-share index closes lower by 47.57 points KARACHI, July 29: Stocks on Thursday again turned lower as despite higher final dividend of 75 per cent by Pakistan State Oil investors were not inclined to make fresh commitments for no apparent bearish reasons. ...

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