19 February 2005	Saturday	09 Muharram 1426

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Pakistan asked to enhance budget: Infrastructure ISLAMABAD, Feb 18: The World Bank and the Asian Development Bank (ADB) have urged Pakistan to spend $1.5-2 billion annually to urgently improve its what they termed "grossly inadequate" ...		Foreign debt up by $1.5bn in July-Dec KARACHI, Feb 18: Pakistan's external debt increased from $33.307 billion at the end of June 2004 to $34.828 billion at the end of December that year, showing an increase of $1.521 billion within six months. ...
Banks lend Rs57.5bn to farm sector KARACHI, Feb 18: All 21 banks, involved in distribution of agricultural credit under the State Bank's mandatory scheme, offered Rs57.51 billion loans in seven months to January 2005. ...		Account not compulsory for Kapco IPO: Hafeez ISLAMABAD, Feb 18: Privatization and Investment Minister Dr Hafeez Shaikh said on Friday that there was no compulsion of having a bank account to submit an application for initial public offering (IPO) of Kapco shares. ...
Sindh govt rejects micro bank idea of ACAC KARACHI, Feb 18: The Sindh government has turned down a suggestion of the Advisory Committee on Agricultural Credit (ACAC) of the State Bank of Pakistan to convert the Sindh Provincial Cooperative Bank into a micro-finance bank. ...		ABAMCO announces Rs1.02bn in dividend KARACHI, Feb 18: ABAMCO Limited announced a staggering sum of Rs1.02 billion in cash dividends for certificate holders in its closed-end mutual funds. ...
Towel makers demand change in policy: Exports to EU KARACHI, Feb 18: Textile ancillary industry has demanded that if the developed nations are not willing to give duty free access across the board, then only those items which do not hurt their industry should be picked up for negotiations. ...		Meezan Mutual Fund gives 10pc dividend KARACHI, Feb 18: The shareholders of Al-Meezan Mutual Fund Ltd (AMMF) will get an interim cash dividend of 10 per cent and interim bonus shares of 10 per cent plus 50 per cent right shares ...
Saudi Pak declares dividend ISLAMABAD, Feb 18: The Board of Directors of Saudi Pak Industrial and Agricultural Investment Company on Friday recommended a 15 per cent dividend for the year 2004. It also approved the financial statements of the company for the year ended December 31, 2004. ...		Wholesale prices jump in US WASHINGTON, Feb 18: Inflation moved to the front burner on Friday after a report showing the sharpest increase in wholesale prices at the "core" rate in six years prompted a reassessment of the US economic outlook. ...
Trading gets slow after phutti data KARACHI, Feb 18: Physical activity on the cotton market on Friday shrank to modest proportions amid fears that steep decline in arrival figures of phutti for the fortnight ended Feb 15, could fuel the current run-up. ...		KSE 100-share index crosses two barriers in one go KARACHI, Feb 18: The KSE 100-share index on Friday breached through two barriers in a row, being the fifth during the week boosted by strong speculative buying ahead of board meetings of some leading companies including PSO and PPL and some others. ...