July 10, 2005	Sunday	Jumadi-us-Sani 2, 1426

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FPCCI for experts’ panel: Monetary policy KARACHI, July 9: Pakistan’s private sector wants involvement of independent economists in formulation of monetary policy to make it more responsive to the economic challenges....		Petrol offtake likely to rise by 5-6pc in 2005-06 KARACHI, July 9: The increase in petrol prices to about Rs50 per litre is unlikely to make a big impact on the annual petrol...
EOBI earned Rs2.41bn profit in 2004-05 KARACHI, July 9: The Employees Old Age Benefits Institution (EOBI) realized a phenomenal profit of Rs2.41 billion on its actively managed portfolios and other investments in 2004-05....		Trade gap shot up by 93pc in 2004-05 ISLAMABAD, July 9: Pakistan’s trade deficit rose by 93.04 per cent in the outgoing fiscal year 2004-05 over the same period last year. Provisional figures obtained by Dawn on Saturday showed...
Steady conditions on cotton market KARACHI, July 9: Cotton market finished the weekend session on a steady note after having confidently consolidated the mid-week gain of Rs25 per maund. There was a relative quiet after that...		Sindh, Balochistan develop differences: Resource distribution Karachi, July 9: Two of the three proposals offered by the Balochistan government for setting distribution criteria of the resources in the current National Finance Commission (NFC) include revenue collection as...
Govt urged to ensure sugar supply in Ramazan KARACHI, July 9: Sugar importers have urged the government to immediately take such measures that could help the country have sufficient stocks of the commodity during the month of Ramazan....		Jute bags’ use banned for carrying phutti ISLAMABAD, July 9: The government on Friday imposed a ban on the use of polypropylene and jute bags for the transportation of raw cotton (phutti) to ginning factories to control the level of contamination....
MTU Karachi collected Rs17.624bn in 2004-05 KARACHI, July 9: The Medium Taxpayers Unit (MTU), Karachi, collected Rs17.624 billion during the fiscal year ending on June 30, 2005. The collection exceeded the target of Rs17.070...		Badla rates fall by 7pc KARACHI, July 9: Investment on the Carry Over Trade (COT) fell further from Rs11.9bn from the previous Rs12.7bn during the last week after having touched the mid-week low of 11.9...
Will G8 hold promises? GLENEAGLES, July 9: Some might grumble, but the Gleneagles summit of the world’s most powerful leaders produced more than most if not all previous G8 conclaves, political analysts say....		Import duty on sugar goes ISLAMABAD, July 9: The CBR has exempted the import of raw sugar from whole of customs duty. The decision was taken through a customs notification issued here on Saturday by amending the budgetary notification of SRO567 of 2005....
US stocks rise after jobs data NEW YORK, July 9: A powerful rally lifted stocks on Friday as a solid if less than spectacular report on job growth helped Wall Street traders focus on an economic scenario that is neither too hot nor too cold....		US denies EU offer on WTO farm talks WASHINGTON, July 9: The United States denied on Friday it had received an offer from the European Union to unlock sensitive WTO talks on agricultural subsidies, an official said....
NY cotton easier on speculative sales NEW YORK, July 9: Cotton futures finished with slight losses on Friday on light speculative sales as most of the trade sat back to mull the approach of Hurricane Dennis and wait for a government report next week, analysts said....		Dollar mixed NEW YORK, July 9: The dollar was mixed on Friday as sterling remained under pressure after weaker-than-expected US jobs growth data and speculation about an emergency rate by the Bank of England cut after the London bombings....
US to press China over market access, IPR WASHINGTON, July 9: The US government said on Friday it would press China to open up its markets and protect intellectual property at annual trade talks in Beijing next week....		London commodities LONDON, July 9: Commodities prices endured a roller-coaster ride this week after bombs ripped through London’s transport network, killing more than 50 people and fuelling concerns about the strength of global economic growth....
Upgradation of rice mills in Sindh stressed KARACHI, July 9: The Small and Medium Enterprises Development Authority (Smeda) on Saturday held a meeting with managing committee members of the Pakistan Rice Syndicate (PRS) to finalize a strategy for the upgradation of rice mills in Sindh....		Women to head 10pc of NBP branches KARACHI, July 9: National Bank President Syed Ali Raza says 10 per cent of NBP branches would be headed by women bankers. He said this while addressing a dialogue session with branch/operation managers to improve NBP’s “top down, bottom-up” communication....