July 1, 2005	Friday	Jumadi-ul-Awwal 23, 1426

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Export finance rate rises to 9pc KARACHI, June 30: The new fiscal year brings a full percentage point increase in mark-up on export loans — much to the chagrin of small exporters who cannot borrow from banks through other modes of financing....		Government to issue Rs8bn Wapda bonds ISLAMABAD, June 30: The government has decided in principle to issue a total of Rs8 billion Wapda bonds to finance Mangla Dam raising project and convert Rs21 billion worth of Wapda loans into federal...
Cement makers to cut prices in two weeks ISLAMABAD, June 30: Cement manufacturers have assured the government of considerably bringing down prices of cement within next two weeks by cutting its export and improving supplies across Pakistan....		SBP gets $260m from Etisalat KARACHI, June 30: The UAE-based Etisalat, which has bought 26 per cent shares of Pakistan Telecommunication Company ...
Stocks shed 44 points on profit selling KARACHI, June 30: Stocks on Thursday failed to sustain the last two sessions run-up and ended on an easy note as investors generally played safe apparently awaiting some official word...		Listless trading on cotton market KARACHI, June 30: Quieter conditions prevailed on the cotton market on Thursday as the physical centre of trading has shifted to the TCP headquarters where spinners and mills are the sole buyers....
No levy on foreign currency accounts ISLAMABAD, June 30: The Central Board of Revenue on Thursday exempted the foreign currency accounts from the levy of 0.1 per cent withholding tax on cash withdrawals....		Forex deposits Terms for NBFCs ISLAMABAD, June 30: The Securities and Exchange Commission of Pakistan (SECP) has prescribed certain conditions in addition to those imposed by the State Bank for the Non-Banking Finance Companies...
US restores trade benefits for Pakistan WASHINGTON, June 29: US President George W. Bush restored trade benefits to certain Indian and Pakistani products on Wednesday, citing progress on intellectual property protections and worker rights....		USTDA to send adviser on ports, shipping KARACHI, June 30: The US Trade and Development Agency (USTDA) would post institutional adviser on ports and shipping in Pakistan, which would help in getting grants for upgradation of technical expertise...
Pharma raw materials exempted from ST ISLAMABAD, June 30: The government has withdrawn the facility of zero rating of sales tax on three items and exempted pharmaceutical raw materials from the levy of sales tax....		Oil prices rise LONDON, June 30: World oil prices rose on Thursday after shedding over four dollars over the past three days, and as oil cartel Opec halted consultations over a further output hike...
CBR delays announcement of revenue collection ISLAMABAD, June 30: The Central Board of Revenue is finding it difficult to meet the revised target of Rs590 billion for the outgoing fiscal year and has delayed the announcement of revenue collection figures...		Marking fee on 2 to 3 wheelers cut to 0.1pc ISLAMABAD, June 30: The government on Thursday revised downward the marking fee to 0.1 per cent from existing 0.25 per cent levied by Pakistan Standards and Quality control Authority (PSQCA) on two and three wheelers....
SBP advice to banks KARACHI, June 30: Banks shall continue to avail refinance from the State Bank Banking Services Corporation against overall revolving limits sanctioned for them for fiscal year 2004-05...		HBL ratings KARACHI, June 30: JCR-VIS Credit Rating Company has upgraded the ratings of Habib Bank Ltd to double A/A-One plus with a “stable” outlook says a press release....
European gold prices down LONDON, June 30: Gold traded narrowly in Europe on Thursday in quiet business ahead of the result of the US Federal Reserve’s interest rate setting meeting later in the day, dealers said....		Opec output LONDON, June 30: The Organization of Petroleum Exporting Countries has suspended talks on a fresh rise in its crude production quota, a spokesman for the oil cartel told AFP on Thursday....
UK current account LONDON, June 30: The British current account deficit widened in the first three months of the year compared with the figure for the previous quarter, official data showed on Thursday....		Karachi Port operations KARACHI, June 30: A dozen vessels carrying containers, chemicals, crude oil and general cargo are expected to arrive at the outer anchorage on Friday, according to KPT sources....