14 January 2005 Friday 03 Zilhaj 1425 Approval of draft pact next month: Protecting FDI ISLAMABAD, Jan 13: The government has finalized a draft of the "Model Agreement on Promotion and Protection of Investment" which is likely to be approved by the federal cabinet in February to help attract the much needed foreign investment. ... Visa policy liberalized for foreign investors ISLAMABAD, Jan 13: The government has liberalized the country's visa policy to facilitate foreign investors and businessmen with a view to boost foreign investment, Interior Minister Aftab Ahmed Sherpao said on Thursday. ... MTU starts functioning in Karachi KARACHI, Jan 13: The Medium Taxpayers Unit (MTU), Karachi, has started full-fledged operations. The function of the unit will ensure minimum direct contact between taxpayers and tax officials. ... Factors hindering growth identified: Industrial strategy ISLAMABAD, Jan 13: The new strategy for rapid industrial growth has identified political and security risks, macroeconomic and banking risks and higher costs of doing business as the major factors affecting investor perception about Pakistan. ... SBP injects Rs9.35bn in inter-bank market KARACHI, Jan 13: The State Bank on Thursday injected Rs9.35 billion into the cash-strapped inter-bank money market to help banks overcome the liquidity shortage created due to withdrawals from rupee deposits ahead of Eidul Azha. ... IPO oversubscribed KARACHI, Jan 13: The initial public offering (IPO) of Jahangir Siddiqui Capital Markets Limited was oversubscribed to the tune of 530 per cent. ... Non-food inflation shows rising trend KARACHI, Jan 13: Whereas general inflation fell to 8.81 per cent year-on-year for July-December 2004 from 9.10 per cent for July-November, non-food inflation went up, instead, to 6.24 per cent from 6.08 per cent. ... Conditions for sugar import ISLAMABAD, Jan 13: The government has notified conditions for duty-free import of 200,000 tons of raw sugar for the purposes of refining to white sugar. ... Fresh EoIs invited for PSO ISLAMABAD, Jan 13: Pakistan on Thursday sought fresh expressions of interest for the privatization of Pakistan State Oil. The Privatisation Commission said interested parties should submit their expressions of interest by March 4 this year. ... Auto shares gave 13pc return in 2004 KARACHI, Jan 13: Auto assemblers' performance at the local bourse had not remained impressive in 2004 as out of 13 listed companies, only six outperformed the KSE 100-share index ... Foreign trade up by 57pc in 3 years ISLAMABAD, Jan 13: Pakistan's foreign trade registered a growth of over 57 per cent during the last three years because of rationalization of tariffs and simplification of procedures as part of the government's macroeconomic reform agenda. ... Insipid conditions on cotton market KARACHI, Jan 13: Cotton market on Thursday lacked normal trading interest as spinners and mills kept to the sidelines just marking time in view of the delivery problems. ...

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