09 March 2005	Wednesday	27 Muharram 1426

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KESC bid money not yet deposited KARACHI, March 8: The successful bidder of the 73 per cent shares of Karachi Electric Supply Corporation (KESC) has not deposited the bid money of Rs20.24 billion by Tuesday (March8) ...		Stocks gain 45pc since Jan 1 KARACHI, March 8: In nine weeks since January 1, this year, the Karachi stock exchange has risen by an incredible 45 per cent with the index crossing over the 9,000 levels. ...
Essential items show 50 paisa rise: POL price hike KARACHI, March 8: An increase in petroleum prices forces transporters and carriage contractors to enhance the transportation charges, thus pushing up the per kg price of vegetables by 50 paisa to Re1 per kg ...		US, UK firms to invest $2bn: Power sector ISLAMABAD, March 8: Two major power companies of the US and the UK - AES Corporation and Globeleq - have offered to invest $2 billion in Pakistan's power sector in the near future. ...
Domestic oil, gas output up KARACHI, March 8: The domestic oil and gas production has increased by three per cent and 22 per cent respectively during the first quarter of the current financial year, a report said here on Tuesday. ...		Govt mulling amendments in Patents Ordinance ISLAMABAD, March 8: The government would introduce amendments in the Patents Amendment Ordinance 2002 following consultation with the local and multinational pharmaceutical companies. ...
Export refinance rate hike flayed KARACHI, March 8: The Pakistan Hosiery Manufacturers Association (PHMA) has taken a strong exception of the increase in export refinance rate by half a percentage point to 4.5 per cent from this month. ...		Setting up of two more urea plants sought LAHORE, March 8: Punjab on Tuesday asked the federal government to allow setting up of two more urea plants in the country due to six per cent annual increase in the consumption of the commodity. ...
Duty conversion issue raised at WTO meeting ISLAMABAD, March 8: Pakistan, along with other developing countries, has asked developed countries for the conversion of specific rates of customs duty at import stage to ad valorem rates. ...		PICIC seeks SBP approval for merger KARACHI, March 8: Pakistan Industrial Credit and Investment Corporation (PICIC) has applied to State Bank of Pakistan (SBP) for merger with PICIC Commercial Bank. ...
Dullness prevails on cotton market KARACHI, March 8: Trading on the cotton market on Tuesday remained insipid as both leading spinners and mills kept to the sidelines most of the time, sending nervous signals among the ginners notably to those who still hold long unsold positions. ...		Bulls go wild as index up by record 355 points KARACHI, March 8: The KSE 100-share index on Monday posted highest-ever single-session gain of 355 points or four per cent and analysts said it could well be a prelude to its virtual run-up to its new chart level of 10,000 points ...