July 21, 2005	Thursday	Jumadi-us-Sani 13, 1426

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SBP wants provinces involved in development: Infrastructure projects KARACHI, July 20: The State Bank Governor, Dr Ishrat Husain told a platform of policymakers here on Wednesday that the central bank wants active involvement of provincial governments in the development of infrastructure projects....		Trade policy to benefit textile sector KARACHI, July 20: The trade policy for 2005-06, which is scheduled to be announced on Thursday, would be tailored to benefit the textiles sector. That would be in line with previous trade policies and would conform to the government’s declaration...
Wold Bank likely to offer $2.5bn under MTDF ISLAMABAD, July 20: The World Bank is expected to provide $2.5 billion concessional assistance to Pakistan over the next four years for infrastructure development, power sector reforms and other development schemes under the Medium Term Development Framework (MTDF)....		Dealers claim cement prices still high KARACHI, July 20: Contrary to cement makers claim that the prices have come down from Rs320-330 to Rs260-275 per 50 kg bag all over the country especially in Punjab, cement dealers...
KSE 100-share index recovers 91.21 points KARACHI, July 20: Stocks on Wednesday shrugged off the last two session’s sluggishness as some of the bulls were back in the market and covered positions in leading oil shares at...		Trading remains slow on cotton market KARACHI, July 20: Physical activity on the cotton market remained relatively slow, but some brokers claim that second-tier mills are active buyers at the prevailing rate of Rs2,400 per maund....
Investors seek early provision of PQ plots KARACHI, July 20: Sindh Governor Dr Ishratul Ibad Khan has said that the establishment of an industrial park and provision of cheaper plots under the fast track system by the Port...		Pakistan, China trade crosses $3bn mark KARACHI, July 20: Consul General of People’s Republic of China Sun Chun Ye has said that the bilateral trade between Pakistan and China has made a historical record by surpassing $3 billion mark last year....
Iran will provide export guarantee KARACHI, July 20: Iran will provide export guarantee to cover the risk of non-payment of all types of credit against the trade purchase by businessmen of both Iran and Pakistan....		Oil prices dip LONDON, July 20: World oil prices weakened on Wednesday as traders digested a smaller-than-expected drop in US crude inventories despite hurricane conditions in the Gulf of Mexico....
Government to announce trade policy today ISLAMABAD, July 20: The government will announce the new trade policy on Thursday laying emphasis to further liberalize foreign trade with export target of around $16.5...		Yields on T-bills remain unchanged KARACHI, July 20: Yields on Treasury bills remained unchanged at an auction on Wednesday indicating interest rates would hold current levels given a downtrend in inflation, analysts and dealers said....
Banks profit rates KARACHI, July 20: Habib Bank AG Zurich has announced two per cent rate of return for their depositors for six months ending in June 2005, says a press release....		Hotels body identifies four major irritants KARAHCI, July 20: The Pakistan Hotels Association (PHA) has identified four main irritants — levy of bed tax, lack of industrial status, customs duty and sales tax — that hamper the growth of tourism in Pakistan....
Greenspan signals more rate hikes WASHINGTON, July 20: Federal Reserve chief Alan Greenspan pointed on Wednesday at more rate rises to come in a generally upbeat assessment of the US economy that still warned of challenges....		PS sell-off process begins ISLAMABAD, July 20: The Privatization Commission (PC) on Wednesday initiated the formal process for sell-off of Pakistan Steel Mills Corporation (PSMC). A meeting held at PSMC Bin Qasim, Karachi with Secretary...
Tea auction NAIROBI, July 20: Prices for Kenyan tea generally improved at this week’s auction on strong demand, traders said on Wednesday. Mombassa-based Africa Tea Brokers said Brighter Best Pekoe Ones fetched $1.82-$2.71...		Bank branch KARACHI: KASB Bank is going to open its Site branch soon. Tariq M. Rangoonwala, Chairman of the International Chamber of Commerce, Pakistan, inaugurated the open house branch on Wednesday....
Port Qasim KARACHI, July 20: Three ships carrying containers and chemicals were allotted berths at QICT and EVT during the last 24 hours, said a PQA press release on Wednesday....		Karachi Port operations KARACHI, July 20: Five ships carrying containers and loading rice are due to arrive at the outer anchorage on Thursday, according to KPT sources. Berthing activity at the wharves was active...