6, April 2005	Wednesday	26 Safar 1426

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Islamic Bank to provide $600m for oil imports ISLAMABAD, April 5: The Islamic Development Bank (IDB) will provide $600 million to Pakistan for importing crude oil during 2004-05. This was stated by Vice-President of IDB Dato Dr Syed Jaffar...		Prices of essentials keep moving up KARACHI, April 5: The consumers have either managed extra money or curtailed their expenditure on monthly budget for buying essential commodities because of the increase in prices of onion, milk, pulses,...
China may allow duty free import of marble KARACHI, April 5: China is considering allowing duty free import of Pakistani marble. At the same time it wants Pakistan to bring the import duty on Chinese granite to zero. Some...		Stocks shed 229 points as profit-selling sets in KARACHI, April 5: Stocks on Tuesday failed to sustain the overnight rally as follow-up support turned shy after the withdrawal of institutional support for no apparent bearish reason followed by profit-selling...
Non-financial firms Condition to change auditors goes KARACHI, April 5: With the Enron debacle behind us, the Securities and Exchange Commission of Pakistan (SECP) has decided to withdraw the condition of rotation of external auditors after every five...		$20m IDB credit for HBL KARACHI, April 5: Habib Bank Ltd. and the Islamic Development Bank have signed an agreement by way of which IDB will offer a credit facility of $20 million to HBL. ...
SBP clarifies KARACHI, April 5: The State Bank says that banks/DFIs are now free to appoint their employees or the members of their boards on the board of directors of their subsidiaries without...		Rice prices KARACHI, April 5: Pakistani rice prices came under pressure over the past week because of a lack of export orders, which were unlikely to pick up soon, dealers said on Tuesday....
Sindh E&T Dept collection rises 45pc KARACHI, April 5: The Sindh Excise and Taxation Department, which has eight taxes under it, has pushed up the collection of these taxes by 45 per cent in eight months (July-February)...		Karachi Port operations KARACHI, April 5: Five ships carrying RBD palm olein, containers and crude oil are expected to arrive at the outer anchorage on Wednesday, according to KPT sources. Berthing activity...
Wapda plans Rs8 billion Islamic bonds LAHORE, April 5: The Water and Power Development Authority (Wapda) plans to float first ever Islamic bond in local currency to raise Rs8 billion for financing Mangla Dam project. The authority...		Cement sales up 12pc in 3rd quarter LAHORE, April 5: The cement sales grew by only 11.93 per cent during the third quarter of the current fiscal year compared to the previous quarter. “Demand growth in cement consumption...
Issue of cotton standardization put in abeyance MULTAN, April 5: The issue of cotton standardization has been put in the cold storage since the newly-created textile ministry has taken over the affairs of the Pakistan Cotton Standard Institute...		Govt to protect automobile industry ISLAMABAD, April 5: Pakistan has decided to give tariff protection to local automobile industry rather to seek further waiver for the continuation of deletion programme under the agreement for trade related...