12 April 2005	Tuesday	02 Rabi-ul-Awwal 1426

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SBP raises discount rate to 9 per cent KARACHI, April 11: The State Bank on Monday increased its discount rate by one-and-a-half percentage points to nine per cent after more than two years to fight inflation. The SBP had...		Three-nation body meets today: Gas pipeline ISLAMABAD, April 11: The 8th meeting of the steering committee of Turkmenistan-Afghanistan-Pakistan (TAP) gas pipeline begins here on Tuesday to consider future course of action and signing a protocol to take...
Stock market mauled by discount rate hike KARACHI, April 11: The hike in discount rate from 7.5 to 9 per cent resulted in a massive fall of 348 points or 4.59 per cent in the KSE-100 index, which...		Efforts on to improve tax-to-GDP ratio KARACHI, April 11: The Central Board of Revenue (CBR) is striving hard to improve the tax-to-GDP ratio and is seeking help from the tax bars to expand the tax base to...
French team coming tomorrow KARACHI, April 11: A high-powered trade delegation from France is arriving on Wednesday to enter into negotiations with various government departments and agencies for the development and investment in the areas...		Capital market reforms KARACHI, April 11: Prime Minster Shaukat Aziz hoped that KSE Managing Director Moin Fudda would continue to work closely with the Board of Directors of KSE and the SECP in implementing...
PICIC to offer margin financing KARACHI, April 11: Pakistan Industrial Credit and Investment Corporation (PICIC) is ready to offer margin financing facility to members of Karachi Stock Exchange for their customers. “PICIC has become the...		Export refinance KARACHI, April 11: Textile ancillary industry has taken strong exception of the recent hike in export refinance rate by 0.5 per cent bringing the total rate to 6 per cent. ...
Dull conditions on cotton market KARACHI, April 11: The cotton market on Monday lacked lustre as millers and spinners kept to the sidelines in anticipation of decision being taken by the government for the TCP’s procured...		Unisame hails final draft of SME Act KARACHI, April 11: The Union of Small and Medium Enterprises (Unisame) has hailed the final draft of the SME Act 2005 which has broadened the definition of an enterprise to an...
ECC to approve package for garment industry LAHORE, April 11: An incentive package for the garment industry would be approved in a meeting of the Economic Coordination Committee of the cabinet on Tuesday, Commerce Minister Humayun Akhtar Khan...		Tysons Oil interested in PSO ISLAMABAD, April 11: A high-level investors and trade delegation led by Varouj Varjabedian, Advisory Council Chairman of Tysons Oil and Energy, have shown their keen interest in the privatization of Pakistan...
Cabinet committee okays UBL IPO ISLAMABAD, April 11: The Cabinet Committee on Privatization (CCoP) on Monday approved the initial public offering of 15 per cent shares of United Bank Limited, including a green-shoe option of five...		Duty cut on kinnoo sought ISLAMABAD, April 11: Pakistan will seek duty concession on export of kinnoo to Indonesia under the proposed free trade agreement (FTA) between the two countries. An official told...
Gwadar zone Body formed to make rules for allotment QUETTA, April 11: The Balochistan government has constituted a committee with a task to make rules and regulations for allotment of plots in the proposed Gwadar industrial zone. A high-level meeting...		IMF rate hike proposal irks BD traders DHAKA, April 11: The central bank of Bangladesh and leading trade bodies of the country take diametrically opposite positions on a recent IMF prescription that the country should raise lending rate...
Textile exports surge BEIJING, April 11: China’s textile exports soared 29 per cent in the first three months of the year, fueled by a steep hike in exports to the United States, government statistics...		Asian stocks close lower HONG KONG, April 11: Asian stocks closed mostly lower on Monday, tracking a weaker Wall Street despite easier oil prices, with Tokyo hit as anti-Japanese protests in China badly unsettled investors,...