September 3, 2005	Saturday	Rajab 28, 1426

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IMF asks CBR to review decision: Tax on cash withdrawal ISLAMABAD, Sept 2: The International Monetary Fund (IMF) has asked the Central Board of Revenue (CBR) to review the decision of levying of 0.1 per cent withholding tax on cash withdrawals from banks....		Plan under study to raise SBP, SECP capacity ISLAMABAD, Sept 2: The government is considering proposals to enhance the institutional capacity of the State Bank and the Securities and Exchange Commission of Pakistan (SECP)....
PIA, Railways suffered losses in April-June KARACHI, Sept 2: Pakistan International Airlines or PIA suffered Rs1.87 billion loss during April-June 2005, the profit and loss account of the national flag carrier shows....		Trade bodies lack research-based knowledge KARACHI, Sept 2: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and its 49 member chambers and 128 associations do not have required intellect and vision which could transform...
Rs9.061bn refunded in two months ISLAMABAD, Sept 2: The Central Board of Revenue (CBR) paid Rs9.061 billion refund/ rebate to exporters during the first two months (July-August) of the current fiscal year compared to Rs8.613...		Soomro seeks investment from Singapore ISLAMABAD, Sept 2: Senate Chairman Mohammedmian Soomro has called upon the Singaporean businessmen and industrialists to invest in Pakistan. Delivering a lecture on “Liberalizing Pakistan’s economy — challenges and prospects,” at...
Stocks rise 20.55 points on active short-covering KARACHI, Sept 2: Stocks on Friday finished higher on active short-covering at lower levels in most of the pivotals amid rumours of a sustained run-up during the next week....		Spinners remain active buyers of new cotton KARACHI, Sept 2: Active trading was witnessed on the cotton market on Friday, as spinners remained active buyers of the new crop lint on falling prices....
BD exports to Pakistan, India rise DHAKA, Sept 2: Bangladesh’s exports to India, Pakistan and Bhutan marked an impressive growth, but overall sales of products in the regional bloc still remained insignificant, accounting for less than 2.6...		Pakistan, China to enhance trade BEIJING, Sept 2: Representatives of major Chinese companies reassured support to Pakistan, enhancing bilateral trade under the Early Harvest Programme (EHP), particularly through land route....
Hubco declares 26pc cash dividend KARACHI, Sept 2: The Hub Power Company Limited (Hubco) announced on Friday net profit of Rs5,385 million for the year ended June 30, 2005, which translated into earnings per share (eps) of Rs4.65....		Oil drops as Europe set to tap reserves LONDON, Sept 2: Oil prices fell close to $2 a barrel on Friday as Europe prepared to tap one million barrels a day of gasoline from emergency stockpiles to relieve an energy crisis threatening the United States....
World economy faces serious risks GENEVA, Sept 2: The global economy faces serious risks of a slowdown, the UN Conference on Trade and Development (UNCTAD) said in its annual report on Friday....		Import policy criticized KARACHI, Sept 2: Pakistan Adhesive and Rubber Solution Manufacturers and Traders Association has said that the new import policy restricts access to, usage and sale of Toluene and MEK, that are the basic raw-materials for the adhesive and rubber solution industry....
Palm oil up KUALA LUMPUR, Sept 2: Malaysian crude palm oil futures ended firmly up on Friday as a burst of short-covering and speculative buying helped strengthen a market lukewarm earlier in the day....		SECP camp ISLAMABAD, Sep 2: In order to facilitate registration of companies, the SECP has established a registration camp office at the Rawalpindi Chamber of Commerce and Industry (RCCI)....