05 February 2005	Saturday	25 Zilhaj 1425

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KESC goes to Saudi group: Rs15.85 billion offered ISLAMABAD, Feb 4: A consortium led by Kanooz Al Watan for Projects of Saudi Arabia that offered a bid of Rs1.65 per share or Rs15.85974 billion for 73 per cent ordinary shares of Karachi Electric Supply Corporation ...		Saudi Pak to set up insurance company ISLAMABAD, Feb 4: The State Bank of Pakistan and the Securities and Exchange Commission of Pakistan (SECP) have allowed Saudi Pak Investment and Agricultural Company to set up its Saudi Pak General Insurance Company ...
Sindh yet to name candidate for NFC KARACHI, Feb 4: The Sindh government has not been able to select one candidate out of three retired bureaucrats to be nominated on the National Finance Commission to replace Abdul Karim Lodhi ...		Country reaps record 14.016m cotton bales KARACHI, Feb 4: Amid sustained flow of phutti (seed cotton) from fields into ginneries even during the third picking, the country has managed to produce a record 14.016 million bales of cotton up to February 1, 2005. ...
CBR yet to evolve audit strategy ISLAMABAD, Feb 4: The Central Board of Revenue (CBR) has yet to evolve an effective audit strategy to detect the non-compliance in the four federal taxes resulting in revenue loss to the national kitty. ...		Average lending rate rises to 6.69pc KARACHI, Feb 4: Weighted average lending rate of all the banks combined went up to 6.69 per cent in December 2004, from 6.49 per cent in June 2004, showing an increase of 20 basis points in the first half of this fiscal year. ...
Expo 2005 positive image builder KARACHI, Feb 4: Commerce Minister Humayun Akhtar Khan said on Friday that Expo Pakistan 2005 was a positive image builder for all foreign visitors including buyers. ...		Kapco's IPO from 21st KARACHI, Feb 4: The public subscription to the initial public offering (IPO) of Kot Addu Power Company Limited (Kapco) will open from February 21 to 24, 2005. ...
Marine dept may collect light dues KARACHI, Feb 4: The government is planning to make necessary amendments in the Lighthouses Act 1927 so that light dues are collected by the Mercantile Marine Department (MMD) instead of Customs. ...		Eight MoUs signed KARACHI, Feb 4: Karachi Chamber of Commerce and Industry on Friday signed Memorandum of Understandings with eight more countries, making a total of 15 MoUs with various countries at the third day of the Expo 2005 in Karachi. ...
Modest trading on cotton market KARACHI, Feb 4: Modest trading was witnessed on the cotton market on Friday as spinners curtailed their daily off-take owing to Saturday's closure on annount of Kashmir day and allied delivery problems. ...		Selling on stock market promptly absorbed at dips KARACHI, Feb 4: Stocks finished the weekend session on an easy note as leading investors indulged in selling at the inflated levels but it was promptly absorbed at the dips, indicating the current run-up is not overdone. ...