October 1, 2005	Saturday	Sha'aban 26, 1426

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Parliament ignored in decision making: Selection of mega plans KARACHI, Sept 30: A national consultative workshop on “economic literacy and budget analysis” on Friday came down hard on government’s selection of mega projects in the Public Sector Development Programme (PSDP),...		WB to help reform taxation policies ISLAMABAD, Sept 30: The World Bank will provide technical assistance to Pakistan in reforming the taxation policies for achieving a quantum jump in tax-to-GDP ratio, which is the lowest in the region....
SPI shows modest fall of 0.10pc ISLAMABAD, Sept 30: The Sensitive Price Index (SPI) showed a modest fall of 0.10 per cent during the week ending September 29 as compared to the previous week, according to the...		Pakistan to raise fuel oil imports by 25pc SINGAPORE, Sept 30: Pakistan is expected to increase its fuel oil imports by 25 per cent in the financial year 2005-06 as the country’s robust growth is increasing demand for power, industry sources said on Friday....
Index up by 74 points as rumours about PTCL deal denied KARACHI, Sept 30: Stocks on Friday were back on the rails on active covering purchases in PTCL and bank shares followed by reports that Etisalat has denied rumours of its back out from the PTCL deal....		Cotton prices rise on active demand KARACHI, Sept 30: Cotton market on Friday showed steady, which appears to be a belated positive reaction to the rising world prices followed by active mill demand....
SNGPL declares 30pc cash dividend LAHORE, Sept 30: The pre-tax profit of Sui Northern Gas Pipelines Ltd (SNGPL) increased by 17 per cent to Rs4.280 billion during the year 2004-05 from Rs3.664 billion in 2003-04....		US yet to comply with 5-year old WTO ruling GENEVA, Sept 30: The United States has failed to respect a World Trade Organization ruling issued more than five years ago which condemned corporate tax break legislation, the global commerce’s referee said on Friday....
BTM assets: final round of bidding today ISLAMABAD, Sept 30: In order to implement the decision of the Cabinet Committee on Privatization, the Privatization Commission on Friday invited top three bidders for a final round of bidding for...		Extension in stocks’ utilization date sought KARACHI, Sept 30: The five major exporting sectors, which have been granted zero-rated sales tax status on exports, have urged the government to extend the last date of September 30 for the utilization and consumption of carry-over stocks....
Oil prices slip despite US refinery fears LONDON, Sept 30: World oil prices fell on Friday ahead of the weekend, as jitters about the slow recovery of US Gulf Coast refineries were tempered by concern that demand may be falling, dealers said....		Rs1.5bn loan facility KARACHI, Sept 30: A financial syndicate led by National Bank of Pakistan will provide Rs1.5 billion to Gharibwal Cement Limited to purchase new plant. According to an announcement here on Friday,...
Govt buildings lack required standards KARACHI, Sept 30: Institute of Architects in Pakistan (IAP) President Syed Akeel Bilgrami has said that a great number of newly constructed government buildings, particularly schools and hospitals do not meet the required minimal standards of quality and design....		Fixation of utilities tariff proposed KARACHI, Sept 30: The Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) has proposed that the utilities tariff should be fixed for at least three years so that exporters can plan their export commitments for longer period....
European stocks LONDON, Sept 30: European shares closed near 40-month highs on Friday as rising semiconductor makers such as Infineon and STMicroelectronics buoyed and as Wall Street seemed to weather gloomy economic data....		Sugar import tariffs JAKARTA, Sept 30: Indonesia, Southeast Asia’s largest sugar buyer, will cut sugar import tariffs by up to 55 per cent effective in November in a bid to ease inflationary pressure from higher domestic fuel prices, government officials said....
Asian stocks mixed HONG KONG, Sept 30: Asian stocks closed mixed on Friday, consolidating another strong week marked by increasing investor confidence that the economic prospects are sound despite the threat of soaring oil prices, dealers said....		Palm oil prices up KUALA LUMPUR, Sept 30: Malaysian palm oil prices jumped 0.8 per cent on Friday, capping a week of speculation of stronger demand in coming months as Europe’s thirst for biofuels grows....
Karachi Port operations KARACHI, Sept 30: Five ships, including Ryong Gang-2 with 13,000 tons of sugar, are due to arrive at the outer anchorage on Saturday, according to KPT sources....		Port Qasim KARACHI, Sept 30: Three ships carrying containers and edible oil were allotted berths at QICT and MPT during the last 24 hours, said a PQA press release on Friday....