29 October 2004 Friday 14 Ramazan 1425 Processing time cut to 185 days: Power sector investment ISLAMABAD, Oct 28: The Federal Government on Thursday drastically reduced the time period for processing of power sector investment proposals to encourage fast track development of new projects in the private sector. ... Foreign currency loans lose charm for importers KARACHI, Oct 28: A huge fall of three per cent in the rupee value so far during this month has made foreign currency loans extremely unattractive for the importers. ... Monthly inflation to determine mark-up ISLAMABAD, Oct 28: The State Bank of Pakistan (SBP) will revisit the mark-up rates on the basis of the inflation figures for the month of October, said SBP governor Dr. Ishrat Hussain. ... Punjab debt may come down to 64.80 per cent LAHORE, Oct 28: Punjab's total debt stock is expected to come down to 64.80 per cent of its total revenues in 2007-08 from 83.90 per cent during the current financial year, according to the provincial government's projections. ... Industrial strategy by Jan 10 ISLAMABAD, Oct 28: Political instability, law and order situation and higher tax and cost of doing business were identified by the speakers at a seminar as the major irritants, slowing industrialization in the country. ... State Bank sucks in Rs25.95 billion KARACHI, Oct 28: The State Bank, on Thursday, sucked in Rs25.95 billion from an extremely liquid inter-bank market. The central bank mopped up Rs11.45 billion through one-week repo of treasury bills ... Volume of ATT goods to Kabul grows manifold PESHAWAR, Oct 28: The volume of goods being transported from Peshawar to Afghanistan under the Afghan Transit Trade has grown manifold as a result of Islamabad's decision to liberalize its trade policy towards the war-torn country. ... Rupee sheds 12 paisa KARACHI, Oct 28: The rupee, on Thursday, lost 12 paisa and closed at 61.22 per US dollar in the inter-bank market, down from 61.10 on Wednesday. ... PPL to drill 35 wells in 5 years KARACHI, Oct 28: Pakistan Petroleum Limited, the country's second biggest exploration company, plans to drill 35 exploration and appraisal oil wells in the next five years and is seeking a joint venture to foray into international exploration. ... PTCL 1st quarter revenue up by Rs40m ISLAMABAD, Oct 28: Pakistan Telecommunication Company Limited (PTCL) registered an increase of Rs40 million in its revenue during the first quarter ended September 30, 2004. ... Govt taking steps to raise farm output LAHORE, Oct 28: Federal Minister for Agriculture Sikandar Hayat Bosan has said that lack of awareness among growers about modern farming techniques is the main hurdle in enhancing wheat output and achieving self-sufficiency. ... CBR chief for early disposal of cases ISLAMABAD, Oct 28: The chairman, Central Board of Revenue (CBR) M. Abdullah Yousuf has asked all the Commissioners of Income Tax (Appeals) to clear all pending cases by June 30, 2005 to ensure a fresh and promising start from the next financial year. ... EOBI shifts to accrual accounting system KARACHI, Oct 28: The Employees Old-Age Benefits Institution (EOBI) has switched over to accrual accounting system to exercise better control on collection system, eliminate discretion ... TCP can buy 3,000 bales from each ginnery LAHORE, Oct 28: The government has allowed the Trading Corporation of Pakistan (TCP) to enter into contract for up to 3,000 bales of lint per ginnery at a time. ... Cotton prices up on strong mill demand KARACHI, Oct 28: The cotton market on Thursday showed firm trend as prices tended further higher in an actively traded session amid strong mill demand. Official spot rates were further revised upward by Rs40 at Rs2,040 per maund ... Stocks suffer fresh decline on mid-session selling KARACHI, Oct 28: Stocks on Thursday suffered fresh decline as investors again played on both sides of the fence in the absence of strong demand from the institutional traders despite higher interim dividend announcements by some of the leading companies. ...

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