03 November 2004 Wednesday 19 Ramazan 1425 Govt set to earn Rs49bn in dividend: Investment in securities KARACHI, Nov 2: The government is likely to earn Rs49 billion on account of dividend from its investment in listed securities in FY'05, which would be 53 per cent or Rs17 billion more than its budgetary expectations of Rs32 billion. ... Stronger rupee to raise interest rates KARACHI, Nov 2: The State Bank decision to pay for oil import bills out of its foreign exchange reserves will kill two birds with one stone: it will make the rupee stronger and, in the process, push up interest rates- so necessary to check rising inflation. ... Rupee gains 31 paisa KARACHI, Nov 2: The rupee on Tuesday recovered 31 paisa against the US dollar in the inter-bank market as demand for dollars remained sluggish. ... 202 firms registered in October ISLAMABAD, Nov 2: A total of 202 companies were registered with the Securities and Exchange Commission of Pakistan (SECP) during October under the Companies Ordinance, 1984, forty more than what were registered during the same month last year ... Export proceeds from quota to exceed $3bn: US, European markets KARACHI, Nov 2: Pakistan's export proceeds from the textile export quota market of the US and Europe will exceed $3 billion during 2004 giving a strong message that exporters ... Saarc states fail to reach consensus on tax draft ISLAMABAD, Nov 2: Tax experts of the seven Saarc-member countries failed to develop consensus on a draft multilateral tax treaty with limited scope with regard to avoidance of double taxation among the member countries at their recent meeting in Kathmandu. ... Body to initiate FTA talks with China ISLAMABAD, Nov 2: The government has constituted a high-level committee to work out measures for initiating dialogue on the proposed Free Trade Agreement (FTA) with China. ... LCCI, Indian body to promote trade LAHORE, Nov 2: Lahore Chamber of Commerce and Industry and Punjab-Haryana-Delhi (PHD) Chamber of Commerce and Industry will form a 12-member joint committee to promote trade and business between Pakistan and India. ... Process to reshape EPB under way LAHORE, Nov 2: The chairman, Export Promotion Bureau (EPB), Tariq Ikram on Tuesday said that a lot of spade work for the restructuring of the bureau has been completed. Talking to newsmen at regional office of the EPB ... Car price increased KARACHI, Nov 2: Indus Motor Company (IMC) has increased the price of two models of Cuore cars by Rs10,000-20,000. Cuore CL and CX models will now be available at ex-factory price of Rs359,000 and Rs419,000 as compared to Rs349,000 and Rs399,000 respectively. ... SBP gets new deputy governor KARACHI, Nov 2: Mansur-ur-Rehman Khan has been appointed as Deputy Governor State Bank of Pakistan (SBP) for a period of three years or till his superannuation, which is earlier. ... Fuel oil prices raised KARACHI, Nov 2: Oil marketing companies have increased the furnace oil prices by Rs852 to Rs1,015 per ton from November 1, 2004. Shell Pakistan Limited (SPL) has enhanced the price of fuel oil (ex-Keamari) by Rs852 per ton ... Active trading on cotton market KARACHI, Nov 2: An active trading was witnessed on the cotton market on Tuesday as spinners and mills were not inclined to take even a technical breather fearing an increase in prices. ... Index recovers 83 points on active short-covering KARACHI, Nov 2: Stocks on Tuesday recovered from the overnight lows followed by an active short-covering by all and sundry under the lead of institutional traders and punters at the lower levels. ...

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