May 8, 2005	Sunday	Rabi-ul-Awwal 28, 1426

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Duty-free imports draw mixed reaction: Vegetables, meat KARACHI, May 7: The government’s decision to allow duty-free import of vegetables, meat and live animals draws a mixed reaction among the market people, as vegetable dealers think that the decision...		KESC losses increase to Rs6.75bn in 9 months KARACHI, May 7: Contrary to the claims of the military management of Karachi Electric Supply Corporation (KESC), the losses to the utility increased by more than Rs1.76 billion to Rs6.75 billion...
Traders expect incentives in next budget KARACHI, May 7: Businessmen hope that the government will provide incentives to them as well as small and medium enterprises in the budget 2005-2006 so that they could face the challenges...		Exporters seek action against freight forwarders KARACHI, May 7: Exporters have alleged that freight forwarders are indulging in fraud and unfair trade practices in shipment of export cargo by changing the title of consignments to their name...
POL off-take stands at 11.4m tons KARACHI, May 7: Total domestic petroleum consumption in the nine-months of FY’05 stood at 11.4m tons, which reflected 17.2 per cent increase over consumption of 7.2m tons in the same period...		Wet spell may hit wheat target ISLAMABAD, May 7: The government is likely to miss the revised 22 million tons wheat target for the Rabi 2004-05 due to unexpected changes in the weather and intermittent rain during...
Current account deficit soars to $1.3bn KARACHI, May 7: Pakistan posted a big $1.338 billion current account deficit in nine months of this fiscal year against a $2 billion surplus in a year-ago period. Indications are that...		SAFA moot concludes KARACHI, May 7: The two-day conference of South Asian Federation of Accountants (SAFA) concluded at a local hotel on Saturday. Speakers and accounting experts from Pakistan and other Saarc countries expressed...
Dollar surges in US NEW YORK, May 7: The dollar surged on Friday after the April jobs report signaled the US labour market was stronger than anticipated. The creation of 274,000 new jobs in April,...		‘Gold investment products woo investors away’ VANCOUVER, May 7: New gold investment products are luring money away from gold mining shares, weighing down stocks’ performance, a Canadian miner warned on Friday. Sean Boyd, Agnico-Eagle Ltd.’s chief executive,...
UAE shares dip DUBAI, May 7: United Arab Emirates stocks ended the week lower, as investors pocketed profits days after the Gulf state’s bourses hit all-time highs, analysts said on Friday. The drops came...		Duty-free import of animals KARACHI, May 7: Pakistan Tanners Association (PTA) chairman Khawaja M Yousuf appreciated government decision for allowing duty free import of one million live animals from India and neighbouring countries. In a...
World oil prices rebound LONDON, May 7: World oil prices rebounded this week in volatile trading amidst rising US crude inventories and production by Opec approaching the highest level for 26 years. Cocoa future dropped...		Commission on agriculture sought HYDERABAD, May 7: The vice president, Sindh Abadgar Board, Mr Gada Hussain Mahessar has appealed to the President and Prime Minister to appoint two separate commissions of experts for the improvement...
FPCCI proposes cut in GST rate ISLAMABAD, May 7: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed reduction of general sales tax rate to 10 per cent from 15 per cent within a...		Pakistan, Malaysia sign MoU for JBC KARACHI, May 7: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Malaysian National Chamber of Commerce and Industry (NCCIM) have signed a memorandum of understanding to set up a...
Textile exports losing edge FAISALABAD, May 7: Renowned textile exporters and representatives of different industrialist bodies have warned that owing to decrease in export orders of textile fabrics, made-ups, bed sheets and knit garments during...		Options to reduce dependence on oil RIYADH, May 7: Are there enough oil and other energy resources available underneath to sustain the current life style - and the modern civilization? From President Bush to Crown Prince Abdullah...
TCP asks parties to raise bids for lint KARACHI, May 7: The Trading Corporation of Pakistan on Saturday received the highest bid of Rs2,300 per maund for local sales and 47.07 cents per lb for export sales against its...		Cell phone ISLAMABAD, May 7: A new mobile operator is joining Pakistan’s cellular network from Thursday with a pre-launch subscriber base of 1.5 million. “We are starting from where other mobile cellular companies...