July 13, 2005	Wednesday	Jumadi-us-Sani 5, 1426

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India asked to remove non-tariff barriers KARACHI, July 12: Commerce Secretary Tasneem Noorani said on Tuesday that land route trade with India was linked to removal of non-tariff barriers because Pakistani exporters were unable to export to...		Pakistan and China take joint stand on farm issues DALIAN (China), July 12: Pakistan on Tuesday assured its all-out support to the developing countries on ensuring free access of their agriculture products to the world market, under the new WTO’s arrangements....
New GSP treats India, Pakistan equally ISLAMABAD, July 12: The European Union (EU) member countries have allowed equal preferential treatment in duties in the range of 2.5 per cent on import of clothing from both Pakistan and...		Car sales up by 32pc in 2004-05 KARACHI, July 12: Consumers’ passion for new cars remained volatile in the last fiscal, thus pushing up car sales by 32 per cent during 2004-2005 to 127,309 units as compared to 96,674 units in 2003-2004....
Stocks shed 42 points as liquidity problems persist KARACHI, July 12: Stocks on Tuesday fell further as liquidity problems continued to haunt investors limiting their operational activity to modest proportions as was reflected by steep decline in the traded volume....		Trading remains slow on cotton market KARACHI, July 12: Physical activity on the cotton market on Tuesday failed to significantly pick up but some brokers said some of the spinners who did not take part in TCP auctions managed to cover positions in the central Sindh variety....
LTU Karachi collects Rs35bn KARACHI, July 12: The Large Taxpayers Unit (LTU), Karachi, collected a record Rs35 billion revenue in direct taxes during the fiscal year 2004-2005, exceeding the target by 25 per cent....		WT on pulses import cut to 2pc KARACHI, July 12: The government has reduced withholding tax on pulses, including lentil, grams, chickpeas and yellow peas and done peas from 6 per cent to 2 per cent to check...
Oil surges $2 on fresh hurricane concerns LONDON, July 12: World oil prices soared on Tuesday, rocketing by more than $2 in New York, on concerns that Tropical Storm Emily could end up a hurricane and damage oil rigs in the Gulf of Mexico....		168 firms penalized in June ISLAMABAD, July 12: The Securities and Exchange Commission of Pakistan penalized 168 companies last month for violating different legal provisions....
Wheat import deals may be finalized this week SINGAPORE, July 12: Pakistan is likely to finalize wheat import deals this week — the first ones since it abolished duties on the grain earlier this month, traders in Singapore, Hong Kong and Pakistan said on Tuesday....		PSO tender SINGAPORE, July 12: Middle East trader FAL Oil has made the best offer into Pakistan State Oil’s tender to buy 165,000 tons of 180-centistoke (cst) fuel oil for July-August delivery, industry sources said on Tuesday....
Trade offices abroad to be re-organized KARACHI, July 12: The Federal Secretary of Commerce, Tasneem Noorani said on Tuesday trade offices abroad would be re-organized and the ministry had selected people from multinationals....		Row over deadline for refund ISLAMABAD, July 12: A row has erupted between the officials of the Central Board of Revenue (CBR) and exporters of five sectors over the deadline for issuance of sales tax refund on the duty paid stock....
Rice prices firm on low stocks KARACHI, July 12: Pakistani domestic rice prices were stable over the past week on low stocks and dealers said on Tuesday that they would not slide until fresh arrivals start in September....		75 surgical instruments qualify for zero ST ISLAMABAD, July 12: The Central Board of Revenue has notified a list of 75 surgical instruments for the purpose of zero rating of sales tax....
Chinese economy BEIJING, July 12: China’s economic growth will slow to 8.6 per cent in the third quarter and to 8.2 per cent in the fourth amid government efforts to make growth more sustainable, the China Securities Journal quoted a think-tank as predicting....		Commodity markets LAHORE, July 12: The following were Tuesday’s upcountry commodity market rates in rupees. Foodgrains (per 40 kg): Wheat 450 to 460; Jowar 700 to 900; Maize 340 to 500; Bajra 880; Barley 600 to 620....
Equity fund KARACHI, July 12: The Dubai-based asset management fund — Abraaj Capital — announced a first closing of the Abraaj Buyout Fund II (ABOF II) with commitments of $300 million....		Karachi Port operations KARACHI, July 12: Seven vessels carrying steel billets, crude oil and to load general cargo are due to arrive at the outer anchorage on Wednesday, according to KPT sources....