06 January 2005	Thursday	24 Ziqa'ad 1425

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Pakistan proposes separate project: Gas pipeline ISLAMABAD, Jan 5: Islamabad has told Tehran that Iran-to-Pakistan gas pipeline should be pursued as a stand-alone and independent project in case India is not ready to join it, it is learnt. ...		Draft industrial policy for cut in gas, power rates ISLAMABAD, Jan 5: The government is finalizing a draft of the new industrial policy that seeks to reduce power and gas tariffs with a view to promoting local and foreign investment. ...
OGDC stock free-float to cross $500m KARACHI, Jan 5: Oil and Gas Development Company Limited (OGDC) would be the first company listed on the stock exchanges in Pakistan to attain a free-float of over half a billion dollars ...		SBP creates fund for micro finance banks KARACHI, Jan 5: The State Bank has created a $15-million new bank fund (NBF) to provide financial help to micro finance banks operating within a district or province. ...
KPT plans projects worth Rs88 billion KARACHI, Jan 5: The Karachi Port Trust (KPT) is embarking upon major development works for enhancing cargo handling capacity and accommodating larger-sized container ships belonging to fourth and fifth generation. ...		Yield on six-month TBs rises to 4.16pc KARACHI, Jan 5: The State Bank on Wednesday raised the weighed average yield on six month treasury bills to 4.16 per cent, which means that exporters will get export loans at 5.5 per cent in February. ...
Taxation pact with Bosnia ISLAMABAD, Jan 5: The federal cabinet has ratified the convention for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income with Bosnia and Herzegovina. ...		Oil prices fall LONDON, Jan 5: Oil prices skidded lower on Wednesday after a US government report showed rises in stockpiles of heating fuel, assuaging worries about winter supplies in the world's biggest consumer. ...
Heavy buying on cotton market KARACHI, Jan 5: Trading activity on the cotton market on Wednesday was maintained on the higher side as spinners were not inclined to sit on the sidelines on the hope of fall in prices owing to higher phutti arrival figures. ...		Stocks lose 12 points after hitting new peak KARACHI, Jan 5: The KSE 100-share index on Wednesday suffered modest pruning on profit-selling in some leading base shares at the fag-end of the session but the underlying sentiment remained uppishly inclined. ...