5, April 2005	Tuesday	25 Safar 1426

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Wheat procurement Punjab and Sindh seek loans for millers KARACHI, April 4: The two provincial governments — Sindh and Punjab — want resumption of bank loan facilities for flour millers before it is given to the wheat traders and that...		CBR fails to widen tax base ISLAMABAD, April 4: Central Board of Revenue Chairman M. Abdullah Yousaf has admitted that despite all efforts the tax administration has failed to bring potential taxpayers under the tax net. Addressing...
Oil hits $58 on fears of supplies LONDON, April 4: World oil prices hit fresh historic highs on Monday, climbing above $58 a barrel in New York on tight supplies, as Opec began consultations to consider raising output...		July-February Collection of ST, duty on POL rises 9 per cent ISLAMABAD, April 4: The collection of sales tax and CED on petroleum products increased by 9.02 per cent during eight months (July-February) of the current fiscal compared to the same period...
Brokerage houses SBP changes rules for banks, DFIs KARACHI, April 4: The board of directors of a subsidiary, through which a bank or development finance institution (DFI) intends to set up a brokerage house, should be completely independent and...		Pakistan sees energy shortage by 2010 ISLAMABAD, April 4: Pakistan will face a major shortage of oil and gas, source of 80 per cent of its energy needs, by 2010 unless it steps up exploration activity, a...
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KSE 100-share index crosses five barriers at 8,050.25 KARACHI, April 4: The KSE 100-share index on Monday breached through five barriers at 8,050.25 as compared to 7,596.87 last weekend, up 453.38 points or six per cent, signalling that the...		PIA earns Rs2.307bn profit in 2004 KARACHI, April 4: The Pakistan International Airlines (PIA) has posted an after-tax profit of Rs2.307 billion for the financial year ended December 31, 2004. The Board of Directors of the airline...
Cotton output up by 47pc MULTAN, April 4: The country has produced 47 per cent more cotton this year with a record output of over 14.339 million bales that have reached ginneries so far. ...		IMF, World Bank for transparency in fund transfers DUBAI, April 4: The World Bank and the IMF are putting pressure on banking regulatory bodies of the Gulf and the South Asian region for more transparency in informal funds transfers...
Prices higher on cotton market KARACHI, April 4: Cotton prices on Monday rose modestly higher amid fears that the below market expectations of arrivals of phutti into ginneries could fuel the current bullish trend. According to...		Chevron to buy Unocal for $18 billion NEW YORK, April 4: ChevronTexaco Corp., the number two US oil company, announced on Monday that it would purchase rival Unocal in a stock and cash deal valued at $18bn, including...
Karachi Port operations KARACHI, April 4: Eight vessels carrying containers and chemicals are due to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at the wharves was active where...		Petronas begins gas supply KARACHI, April 4: Petronas Carigali (Pakistan), a subsidiary of Malaysia’s national oil and gas corporation Petronas, on Monday announced that it had commenced gas production from the Rehmat field in Block...
Action against substandard ghee makers KARACHI, April 4: The Pakistan Vanaspati Manufacturers Association (PVMA) and the Pakistan Standards and Quality Control Authority (PSQCA) will jointly work out a strategy to deal with unscrupulous ghee and cooking...		Entity ratings maintained LAHORE, April 4: The Pakistan Credit Rating Agency (Pacra) has maintained the entity ratings of the First Punjab Modaraba (FPM) at “A” (single A) and “A1” (single A one) for the...
Europe gold steady LONDON, April 4: Gold prices were pinned in narrow ranges in Europe on Monday, with direction set by closely traded currencies, dealers said. Spot gold eased to $425.40/ 426.10 per troy...		Port Qasim KARACHI, April 4: Four ships carrying containers, rice and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Monday. Meanwhile, three more...