June 30, 2005	Thursday	Jumadi-ul-Awwal 22, 1426

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Withholding tax idea imported from India: Cash withdrawal ISLAMABAD, June 29: The idea of 0.1 per cent withholding tax on cash withdrawals has been imported from Indian banking cash transaction tax, informed sources told Dawn on Wednesday....		Port Qasim to set up repair workshop KARACHI, June 29: The Port Qasim will set up its own marine repair workshop and dry-dock facilities at an estimated cost of $10 million. This will be the second facility of its kind in the country after the Karachi Shipyard and Engineering Workshop (KS&EW)....
Trade policy to announce new schemes ISLAMABAD, June 29: The government will announce new schemes in the trade policy for the export of surgical, sports and leather goods. An official in the commerce ministry told Dawn...		Demand for split A/Cs outstrips supplies KARACHI, June 29: The rising demand for split air-conditioners has outstripped supplies in the market...
Stocks recover 63 points on follow-up support KARACHI, June 29: Stocks on Wednesday maintained their upward drive on active follow-up support in most of the pivotals aided by reports that margin and badla financing may go parallel beyond...		Steady trend on cotton market KARACHI, June 29: Cotton market on Wednesday showed steady trend as spinners remained conspicuous by their absence making arrangement to lift the recently purchased lint from the TCP godowns...
UN sees energy costs slowing economic growth UNITED NATIONS, June 29: World economic growth will slow substantially this year, mainly in industrialized countries, blunted by high energy prices and rising...		Passenger information system to be set up ISLAMABAD, June 29: The government has decided to establish advanced passenger information system (APIS) to regulate clearance of passengers, goods at all airports and seaport....
Oil prices drop by one dollar LONDON, June 29: World oil prices fell further on Wednesday as traders digested a surprise rebound in US crude stocks, and after slumping by more than two dollars on profit taking the previous day....		NA panel formed for recovery of taxes ISLAMABAD, June 29: The National Assembly Standing Committee on Finance and Revenue on Wednesday constituted a six-member sub-committee to work out measures for the recovery of taxes...
TCP sells 89,400 bales of cotton KARACHI, June 29: Trading Corporation of Pakistan (TCP) on Wednesday sold 89,400 bales of cotton to 37 local mills against the bids for 110,100 bales. According to the TCP official,...		OGDCL disowns financing ISLAMABAD, June 29: The Oil and Gas Development Company Limited (OGDCL) on Wednesday said it was actively considering appropriate legal action against Zaver Petroleum Company Limited (ZPCL)...
China to purchase Pakistani rice SUKKUR, June 29: Federal Minister for Food and Agriculture Sikandar Hayat Bossan on Tuesday said that China would purchase millions of tons of rice as a result of trade agreement between...		Commodity markets LAHORE, June 29: The following were Wednesday’s upcountry commodity market rates in rupees. Foodgrains (per 40 kg): Wheat 330 to 400; Jowar 500 to 750; Maize 400 to 500; Bajra 800; Barley 600....
Wheat import ISLAMABAD, June 29: Pakistan may have to import 500,000 to 700,000 tons of wheat as bad weather has damaged its domestic crop, a senior official said on Wednesday....		Palm oil higher KUALA LUMPUR, June 29: Malaysian palm oil shadowed the trend in rival US soyaoil on Wednesday to clamber back from the previous day’s selldown. Players also bought in on speculation...