June 12, 2005	Sunday	Jumadi-ul-Awwal 4, 1426

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Rs24 billion uplift plan ‘unfunded segment’: Sindh budget briefing KARACHI, June 11: Sindh Finance Minister Syed Sardar Ahmad has contended that after the suspension of cash development loans facility from the federal government, the development programme...		Significant gas found in Sindh ISLAMABAD, June 11: Hycarbex American Energy Inc (Hycarbex Inc), the operator of Yasin Block No 2768-7, has made a significant gas discovery, as a result of drilling and testing of exploratory...
Lists of goods for duty wavier notified: FTA with Sri Lanka ISLAMABAD, June 11: The Central Board of Revenue (CBR) has notified the lists of goods for duty exemption on import from Sri Lanka under the free trade agreement (FTA),...		Assemblers want meeting with PM: Used car imports KARACHI, June 11: Car vendor industry and assemblers have sought meetings with the prime minister and the industries and production minister to get two budgetary decisions reversed...
CBR to raise Rs20 billion additional revenue: New taxation measures ISLAMABAD, June 11: The government has projected to raise additional revenue of around Rs20 billion on account of a range of new taxation measures taken in the budget 2005-06...		KSE: still best performing market in the world? KARACHI, June 11: After the Karachi Stock Exchange came down crashing in March, its claim to fame as the ‘best performing market in the world’ might sound a little frivolous...
G8 scraps $40bn in Third World debt LONDON, June 11: The world’s richest nations struck an historic deal on Saturday to write off immediately all multilateral debt owed by 18 of the world’s poorest countries, mostly in Africa,...		Carryover rates fall to 9.6pc KARACHI, June 11: The weighted average carryover rates on the Karachi Stock Exchange last week fell into a single digit owing to freezing of volumes from June 7. ...
Iran, India in talks on gas pipeline TEHRAN, June 11: Energy ministers from Iran and India voiced hope on Saturday that negotiations would be wrapped up soon on a proposed multi-billion dollar pipeline between the two countries...		Unisame invited to Indian trade fair KARACHI, June 11: The Union of Small and Medium Enterprises (Unisame) has been invited to visit India International Trade Fair being held in November this year...
Joint body on budget irritants KARACHI, June 11: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Ch Muhammad Saeed has announced that a joint committee of FPCCI and Karachi Sales Tax Bar Association (KSTBA)...		China to limit EU textile exports BEIJING, June 11: China has agreed to limit growth in exports of 10 textile and clothing products to the European Union to between eight and 12.5 per cent per year,...
Metals prices dull, oil gains LONDON, June 11: Metals prices dropped this week as the dollar firmed, while oil extended gains and coffee fell from five-year high points....		Dollar hits 9-month high against euro NEW YORK, June 11: The dollar surged to a fresh nine-month high against the euro on Friday as its recent rally gained extra momentum from a narrower-than-expected US trade deficit...
New York cotton closes firm NEW YORK, June 11: Cotton futures settled firmer on Friday as switch trade was again the dominant factor in the market due to investors transfering positions out of spot July two...		Enforcing of WTO rules a challenge KARACHI, June 11: The biggest challenge for Pakistan in regard to World Trade Organization (WTO) is quick implementation of its rules and creating awareness among the people about the benefits...
Inflation, over-investment under control: China LONDON, June 11: Inflation in China is under control and government curbs have succeeded in checking over-investment in some sectors of the red-hot economy, Finance Minister Jin Renqing said on Friday....		Dubai to build first ME energy exchange NEW YORK, June 11: The New York Mercantile Exchange, the world’s largest physical commodities exchange, has joined with Dubai, the prosperous United Arab Emirates city, to build the first energy futures...
Prices move up on cotton market KARACHI, June 11: Cotton market closed the weekend session on a steady note as some of the mills raised their buying rates in an apparent effort to grab the floating stock...		S. Arabia backs hike in Opec output OSLO, June 11: Saudi Arabia’s powerful oil minister said on Saturday he supported a 500,000 barrel per day rise in Opec’s output ceiling and that current prices above $50 a barrel...