September 27, 2005	Tuesday	Sha'aban 22, 1426

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Cotton offtake may go up this season: Rising PSF cost KARACHI, Sept 26: A quantum jump in polyester fibre cost caused by the rising international petroleum prices will force the textile mills in Pakistan and other parts of the world to consume more cotton this season, cotton watchers say....		Inefficient units burden on govt, says Hafeez ISLAMABAD, Sept 26: Dr Abdul Hafeez Shaikh, Federal Minister for Privatization and Investment has stated that the inefficiencies of public sector entities are a constant burden on national exchequer and the...
WB for removal of tax waivers KARACHI, Sept 26: The World Bank has suggested to the government to remove exemptions and waivers to improve tax-to-GDP ratio, which today stands amongst the lowest in the world at around 12 per cent....		China to import mineral products from Pakistan BEIJING, Sept 26: China will get a big quantity of mineral products, particularly zinc and lead from Pakistan on regular basis. Zhuzhou Smelting, China’s second-largest zinc producer by capacity, is looking...
Cabinet may take up power tariff revision ISLAMABAD, Sept 26: The National Electric Power Regulatory Authority (Nepra) has sought the federal government’s views on increasing power rates for lifeline consumers and other categories and the overall size of subsidy before making the final determination....		Refining of 1m tons of raw sugar suggested: Output shortfall LAHORE, Sept 26: In view of likely shortage of sugar during the next crushing season (Nov-March), some sugar millers suggest that the government should make it mandatory for the industry to...
Condition for duty concession abolished ISLAMABAD, Sept 26: The government has decided to abolish the condition of prior declaration of goods for seeking duty concession under the new baggage rules for the overseas Pakistani....		JOV & Co posts loss of Rs64m KARACHI, Sept 26: Javed Omer Vohra & Company Limited (JOV & Co.) — the corporate stock brokerage firm — reported a loss after tax of Rs63.7...
Stocks recover 37 points as short-covering sets in KARACHI, Sept 26: Stocks on Monday shrugged off the weekend hesitancy and finished recovered across-the-board under the lead of blue chips on active short-covering at the lower levels....		Prices stay firm on cotton market KARACHI, Sept 26: Trading on the cotton market on Monday resumed on a firm note as spinners and mills continued to build-up long positions both in Sindh and Punjab varieties at the current levels....
IT return form annexes clarified ISLAMABAD, Sept 26: The Central Board of Revenue (CBR) has issued clarifications regarding the annexes attached with the new prescribed income tax return form for the tax year 2005....		Barriers to export growth identified KARACHI, Sept 26: Present high growth in Pakistan’s exports is likely to be discouraged due to various barriers i.e. high tariffs, technical barriers, quality standards and compliance regulators, limited supply capacity...
Korean investment sought KARACHI, Sept 26: Sindh Senior Minister for Finance Syed Sardar Ahmed has asked the Korean Hyundai Engineering and Construction Company to operate Daewoo buses in the mega city....		Asian stocks close sharply higher HONG KONG, Sept 26: Asian stock markets closed sharply higher on Monday after Hurricane Rita struck the southern coastline of the United States but failed to emulate the destruction of Katrina at the end of August....
European stocks LONDON, Sept 26: European stock markets closed higher on Monday amid widespread relief that Hurricane Rita had not caused catastrophic damage to US Gulf Coast oil production facilities....		Greenspan renews warning on real estate WASHINGTON, Sept 26: US Federal Reserve chairman Alan Greenspan warned on Monday that consumer spending could take a hit from a rise in interest rates because so many consumers are tapping their homes for equity....
Karachi Port operations KARACHI, Sept 26: Five vessels carrying steel cargo and containers are expected to arrive at the outer anchorage on Tuesday, according to KPT sources. A single-session cargo of 0.283m...		Port Qasim KARACHI, Sept 26: Four ships carrying containers, edible oil and chemicals were allotted berths at QICT, MPT and EVT during the last 24 hours, said a PQA press release on Monday....