July 22, 2005	Friday	Jumadi-us-Sani 14, 1426

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Five-year term of NFC expires today KARACHI, July 21: The five-year term of the National Finance Commission (NFC) expires on Friday July 22, 2005. But it will not die an “unwept and unsung death” as the tears...		Steps to liberalize import ISLAMABAD, July 21: The government on Thursday allowed import of various types of used machinery. The list of the used machinery was announced by the Commerce Minister Humayun Akhtar Khan to further liberalize the import regime....
Fight against inflation not over: SBP KARACHI, July 21: The State Bank says it will continue to fight inflation through further hikes in interest rates in the first half of this fiscal year....		Pakistan exports onions, tomatoes to India KARACHI, July 21: Pakistan has so far exported around 14,000 tons of potatoes and 12,000 tons of onions to India on having a good crop of both the commodities which started arriving late April....
Three-year-old cars’ import allowed KARACHI, July 21: Used car dealers anticipate arrivals of 30,000-35,000 used cars in the current fiscal year following the government’s decision to amend baggage, transfer of residence and gift scheme for used cars under the Trade Policy 2005-06....		Wheat: govt may hire foreign inspectors KARACHI, July 21: Wheat traders are expected to be given further concession in the import as the government is said to be considering to removing the condition of sending officials from Pakistan to inspect the consignment at the port of loading....
China revalues yuan by 2.1pc: Decade-old peg ends BEIJING, July 21: China finally bowed to two years of political and market pressure on Thursday by revaluing the yuan by 2.1 per cent and leaving the door open to further rises by abandoning the currency’s decade-old peg against the dollar....		London blasts overshadow trade policy KARACHI, July 21: The Trade Policy 2005-06 announced by Commerce Minister Humayun Akhtar Khan on Thursday was overshadowed by a fresh wave of bomb blasts in London, as people were glued...
SBP sets up SMEs dept KARACHI, July 21: The State Bank has set up a new department for the promotion of development finance and growth of Small & Medium Enterprises or SMEs sector....		Stock market fails to extend overnight run-up KARACHI, July 21: Stocks on Thursday failed to extend the overnight run-up as follow-up support turned shy owing to liquidity problems in the backdrop of conflicting reports about badla and margin financing and allied reservations on the part of lenders....
Cotton market rules steady KARACHI, July 21: Cotton prices on Thursday ruled steady as ginners are literally following the lead of TCP auctions and were not inclined to lower their asking prices irrespective of the quality considerations....		Karachi Port operations KARACHI, July 21: Six vessels carrying railway bogies, general cargo and containers are due to arrive at the outer anchorage on Friday, according to KPT sources....