01 October 2004 Friday 15 Shaban 1425 Sindh cess on Afghan goods withdrawn ISLAMABAD, Sept 30: Prime Minister Shaukat Aziz on Thursday ordered withdrawal of the 0.5 per cent infrastructure cess levied by the Sindh government on goods imported under Afghan Transit Trade (ATT). ... US assured of new rules implementation: Security at ports WASHINGTON, Sept 30: Federal Commerce Minister Humayun Akhtar has assured American businessmen that Pakistan is taking steps to meet security requirements of a new US law that forbids trade ... Remittances: exchange companies to set up booths KARACHI, Sept 30: The State Bank has allowed foreign exchange companies to set up booths for making payments in local currency to those who receive workers' remittances or foreign exchange sent back home by overseas Pakistanis. ... SBP sucks in Rs3.9bn KARACHI, Sept 30: The State Bank on Thursday drained out Rs3.95 billion from an excessively liquid inter-bank market for two weeks through repo sale of treasury bills at an open market operation called for this purpose. ... Export finance rate rises to 4.5 per cent KARACHI, Sept 30: Banks will charge 4.5 per cent maximum mark-up on export loans in October, as the State Bank has raised the rate of export refinancing by 50 basis points to 3 per cent. ... SBP issues guidelines on IT security KARACHI, Sept 30: The State Bank has asked banks and Development Finance Institutions or DFIs to make adequate and reliable arrangements for Information Technology or IT security and has issued a set of guidelines for this purpose. ... SSGC declares 15pc dividend KARACHI, Sept 30: Sui Southern Gas Company Limited (SSGC) declared a 15 per cent cash dividend (Rs1.50 per share) for the year ended June 30, 2004. ... LoIs issued for nine power plants LAHORE, Sept 30: Nine letters of intent (LoIs) have been issued for the establishment of nine power plants, including two hydel power plants, to help bridge the gap between demand and generation of electricity. ... Takaful: draft rules submitted ISLAMABAD, Sept 30: The Task Force constituted by the Securities and Exchange Commission of Pakistan (SECP) to prepare rules for Takaful business - Islamic mode of insurance - has submitted its report to the SECP. ... Office-bearers elected KARACHI, Sept 30: Mohammad Akhlaq Memon and Mohammad B. Moulvi have been elected Chairman and Vice-Chairman, respectively, of the Pakistan Ship Breakers Association (PSBA). ... Cotton prices plunge to new seasonal lows KARACHI, Sept 30: Cotton prices on Thursday plunged to new seasonal lows as predictions of a higher crop allowed spinners and mills to remain selective buyers mostly at dips after fears for future supplies were allayed. ... Stocks put fresh gain of 21.37 points amid brisk trading KARACHI, Sept 30: Stocks on Thursday finished with an extended gain as predictions of higher dividend continued to inspire fresh covering purchases by all and sundry on selected counters under the lead of PTCL and OGDC. ...

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