14 December 2004 Tuesday 01 Ziqa'ad 1425 Sindh considering names for its NFC member KARACHI, Dec 13: The Sindh government is expected to propose the name of Ashraf Wasti as the private and non-statutory member on the National Finance Commission following protest resignation of Abdul Karim Lodhi last week. ... President for increased regional trade ISLAMABAD, Dec 13: President Pervez Musharraf said on Monday that the initiatives taken by the government was having far-reaching effects on poverty reduction but asked the private sector to join hands in expanding micro finance ... High freight costs hit exports ISLAMABAD, Dec 13: Pakistan is facing high freight costs for exporting goods to the markets of developed countries, particularly to the United States, which resulted in decreasing the competitive edge over the goods coming from other countries. ... Kapco, Hubco to enhance capacity: Power shortage ISLAMABAD, Dec 13: The Kot Addu Power Company (Kapco) and Hub Power Company (Hubco) are expected to enhance their generation capacity significantly to avert looming power shortages in the country. ... Quota crisis resolved KARACHI, Dec 13: The quota crisis arising out of the US embargo on fast running categories was finally resolved on the intervention of Commerce Minister Humayun Akhtar Khan. ... Collectors empowered to condone time limit of cases ISLAMABAD, Dec 13: The CBR has empowered collectors of sales tax to condone the time limit of adjustment and refund of input sales tax beyond the prescribed period. ... Battle expected between giants: EoIs for National Refinery KARACHI, Dec 13: Monday was the last day for submitting Expressions of Interest (EoIs) for 51 per cent shares in National Refinery Limited (NRL) and the market expects the transaction to have received a momentous response from local and foreign investors. ... Aptma wants to take part in TCP tender LAHORE, Dec 13: Textile mills want the government to also allow them to participate in the tender advertised by the Trading Corporation of Pakistan (TCP) to sell 25,000 bales of cotton on Dec 18. ... Pakistan Business Council in UAE ISLAMABAD, Dec 13: The Pakistan Business Council in UAE was formally launched in Abu Dhabi on Sunday to help promote trade, commerce and investment between the two countries. ... Saudi ITCN RIYADH, Dec 13: Fourteen Pakistani IT companies, showcasing Pakistani prowess in software development are participating in ITCN Saudi Arabia, which got underway in Dhahran on Sunday. ... Prices ease on cotton market KARACHI, Dec 13: Cotton prices on Monday eased from Saturday's higher levels as ginners lowered their asking prices followed by reports of slowdown in TCP's procurement operations owing to storage problems. ... Index gains 57.46 points on year-end buying KARACHI, Dec 13: Stocks on Monday shrugged off the weekend easiness as investors covered positions at the lower levels aided partly by strong year-end buying on selected counters by institutional traders. ...

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