17 February 2005	Thursday	07 Muharram 1426

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Utilization of fund in Sindh slow KARACHI, Feb 16: The Sindh government has shown an extremely low utilization of the development funds during the first half of the current fiscal year that is being attributed to painfully slow release of money by the provincial finance department. ...		PC invites EoIs for Pakistan Petroleum ISLAMABAD, Feb 16: The Privatization Commission (PC) has invited qualified strategic investors to submit Expressions of Interest (EoIs) for acquiring 51 per cent equity stake, with management control ...
200 illegal oil depots operating in Karachi KARACHI, Feb 16: As many as 200 illegal oil depots are operating in Karachi where petrol and diesel are said to have been sold at Rs2 to 4 per litre cheaper than what the three oil marketing companies (OMCs) retail at their outlets. ...		Textile ancillary seeks 20 per cent shares: Relief package KARACHI, Feb 16: The textile ancillary industry is seeking a minimum of 20 per cent shares in relief package to counter the current galloping cost of production which has almost rendered the entire value-added textiles un competitive ...
Askari, APL, Union Bank profits rise KARACHI, Feb 16: As the reporting season progresses, Askari Commercial Bank Limited came up with financial figures for the year ended December 31, 2004 ...		Importers book 0.315m tons of sugar KARACHI, Feb 16: Pakistani importers booked around 315,000 tons of sugar after a duty cut earlier this month and orders for another 100,000 tons are expected in the coming days, an official said on Wednesday. ...
Pakistan, Qatar to cooperate in pipeline project ISLAMABAD, Feb 16: Pakistan and Qatar have agreed to cooperate in the gas pipeline project, liquefied natural gas (LNG), technical assistance and investment in the oil and gas sector. ...		Chinese team due on 20th for FTA talks ISLAMABAD, Feb 16: A Chinese delegation is due on February 20 to start formal negotiations with Pakistani authorities on the proposed Free Trade Agreement (FTA). ...
Trade data not yet finalized ISLAMABAD, Feb 16: The government has so far failed to finalize trade data for the month of January 2005 because of a disagreement between the Central Board of Revenue (CBR) and the Federal Bureau of Statistics ...		Malaysian telecom giant opens subsidiary ISLAMABAD, Feb 16: Leading Malaysian telecommunication company on Wednesday established a wholly-owned subsidiary for its Pakistan operations, called Red tone Telecommunications Pakistan (Private) Limited (Red tone Pakistan). ...
EPZA board to be revamped: Tareen ISLAMABAD, Feb 16: Federal Minister for Industries, Jahangir Khan Tareen on Wednesday said that the Export Processing Zones Authority (EPZA) board of directors would be reconstituted and more EPZs and Special Economic Zones would be set up. ...		Kenya-Pakistan trade row hits tea auction NAIROBI, Feb 16: Kenya's weekly tea auction suffered a serious lack of demand this week, pushing prices lower, as buyers from its largest tea market Pakistan stayed away, traders said on Wednesday. ...
Bullish trend on cotton market KARACHI, Feb 16: Cotton prices on Wednesday rose further higher as supply worries forced spinners to buy lint at the ginners' options but leading among them remained reluctant sellers, brokers said. ...		Index crosses 7,500-point barrier amid massive turnover KARACHI, Feb 16: The KSE 100-share index on Wednesday confidently breached through the second consecutive barrier of 7,500.00 in the last two sessions as investors continued to build-up long positions on selected counters ...