30 October 2004 Saturday 15 Ramazan 1425 Five options discussed with US authorities: Greater access to markets ISLAMABAD, Oct 29: Pakistan has worked out a detailed strategy for greater access to the markets of the United States and European Union (EU) member countries. ... SBP annual report for 2003-04 today KARACHI, Oct 29: For the first time in 30 years, the State Bank governor is addressing a press conference on Saturday afternoon to present the central bank's annual report for 2003-04. ... Iran, China sign $100bn gas deal TEHRAN, Oct 29: Iran and China have signed a preliminary accord under which China would buy 10 million tons a year of liquefied natural gas (LNG) for 25 years in a deal worth $100 billion, the student news agency ISNA said on Friday. ... Polypropylene industry seeks duty cut KARACHI, Oct 29: Pakistan Polypropylene Woven Sack Manufacturers Association has written a letter to Prime Minister Shaukat Aziz requesting him to reduce the customs duty from 10 to 5 per cent on import of polypropylene. ... SBP's forex reserves decline KARACHI, Oct 29: Official liquid foreign exchange reserves held by the State Bank fell to $9.94 billion on October 23, from about $9.967 billion a week earlier, weekly data issued by the State Bank on Friday show. ... 26 DCITs transferred to ST dept ISLAMABAD, Oct 29: The Central Board of Revenue (CBR) has transferred 26 Deputy Commissioners of Income Tax (DCITs) to the Sales Tax Department for the first time at various locations as part of re-structuring of tax administration. ... Rupee down 5.5 per cent since July KARACHI, Oct 29: The rupee lost 11 paisa to a US dollar in the inter-bank market on Friday and closed at 61.33, down from 61.22 on Thursday. Senior bankers said the local currency fell due to increased dollar demand for payment of oil import bills. ... Rs77.5m penalty imposed on SNGPL ISLAMABAD, Oct 29: The Oil and Gas Regulatory Authority (Ogra) on Friday imposed a Rs77.5 million penalty on Sui Northern Gas Pipelines Limited (SNGPL) for failing to reduce its targeted system losses commonly known as unaccounted for gas (UFG). ... SSGCL sale volume up by 12pc KARACHI, Oct 29: Sales volume of Sui Southern Gas Company Limited (SSGCL) increased to 84,065 million cubic feet (mmcf) in July-September 2004 as compared to 75,242 mmcf in the corresponding period of last year, up by 12 per cent. ... US economy grows 3.7pc WASHINGTON, Oct 29: The US economy grew at a slower-than-anticipated but still solid 3.7-per cent annual pace in the third quarter, the government said on Friday in the last major report before November 2 elections. ... Cotton prices ease from recent highs KARACHI, Oct 29: Cotton prices on Friday eased from the recent highs as some of the leading ginners lowered their asking prices in line with the New York cotton futures that ran into massive profit-selling. ... Index suffers fresh sharp pruning, off 35 points KARACHI, Oct 29: Stocks on Friday fell across a broad front as higher corporate announcements by some of the leading companies failed to lure investors back in the market in the absence of financial institutions. ...

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