06 November 2004 Saturday 22 Ramazan 1425 LPG price shoots up to Rs50 per kg KARACHI, Nov 5: Price of liquefied petroleum gas (LPG) has again come under pressure, rising to Rs48-50 from Rs42-43 per kg in just two days, thus adding sufferings of the poor consumers. ... WB preparing provincial level GDP KARACHI, Nov 5: The World Bank is preparing a provincial-level gross domestic product (GDP) for all the provinces in consultation with the federal government, reveals a Concept Note of the World Bank submitted in October this year. ... Rupee gains 1.8pc in five days KARACHI, Nov 5: A number of measures taken by the State Bank have helped the rupee recover 1.8 per cent value against the US dollar within five days of this month. Earlier between July-October 2004 ... Rs24.368bn refunded to exporters ISLAMABAD, Nov 5: The tax authorities paid Rs24.368 billion refund/rebate to exporters during the first four months of the current fiscal year against Rs20.612 billion paid during the same period last year. ... Banks face temporary shortage of cash: Eid-related withdrawals KARACHI, Nov 5: Banks on Friday ran short of cash towards the close of the business and as a result of Rs885 million discounting or overnight borrowing from the State Bank took place. ... Lenders support corporatization of Wapda: Transfer of assets ISLAMABAD, Nov 5: All the international lenders, except the Asian Development Bank (ADB), have given their consent for legal transfer of assets and liabilities of Wapda to its corporate entities - Distribution Companies (Discos) ... Indian team for direct trade with Pakistan GUJRANWALA, Nov 5: A delegation of Indian industrialists and traders visited various industrial units here on Friday. The delegates, including women, appreciated Gujranwala products, particularly cloth and jewellery ... Number of cell phone users to grow rapidly LAHORE, Nov 5: The mobile phone penetration rate in Pakistan and other countries like Bangladesh, Indonesia and Vietnam is less than 10 per cent, which indicates their tremendous potential for growth. ... First Modaraba earns Rs53m KARACHI, Nov 5: First Prudential Modaraba (FPM) earned a net profit of over Rs53 million in July-June 2003-04, but the company has not declared any dividends for its shareholders. ... More tax reforms stressed HYDERABAD, Nov 5: Outgoing Income Tax Commissioner (Hyderabad region) Sardar Aminullah Khan has said that due to the pragmatic and constructive approach of the federal government the confidence of the taxpayers ... Indian POL price hike to stoke inflation NEW DELHI, Nov 5: India's inflation rate spiked higher on Friday and analysts forecast it would climb further on the back of a government hike in fuel prices aimed at offsetting the surge in global oil costs. ... Oil prices rebound above $49 LONDON, Nov 5: Oil prices rallied above $49 on Friday, partly reversing sharp falls on technical factors and worries over the critical condition of Palestinian leader Yasser Arafat, analysts said. ... Prices fall on higher phutti arrivals KARACHI, Nov 5: The cotton market on Friday was in virtual turmoil as arrival figures of phutti into the ginneries were well above the analysts' predictions and should have crashed it but ginners held on to their unsold positions. ... Stocks finish weekend session with modest gain KARACHI, Nov 5: Stocks finished the weekend session on a steady note as leading shares came in for active support at the lower levels and rose modestly higher amid a lightly traded session. ...

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