December 1, 2005	Thursday	Shawwal 28, 1426

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New tariff system yet to be made effective: Automobile sector KARACHI, Nov 30: The government is yet to issue a notification on the Tariff Based System (TBS) for the entire automobile sector despite its approval by the board of management of the Engineering Development Board (EDB) in October 2004....		July-Nov Revenue collection exceeds target ISLAMABAD, Nov 30: The Central Board of Revenue (CBR) collected Rs243.2 billion during the July-November period of the current fiscal year, which is Rs2.1 billion more than the target set for the period....
‘Export financing still costly’ KARACHI, Nov 30: The State Bank of Pakistan has decided to keep the export refinance rate unchanged for December 2005 despite frequently increased lending rates by the banks and overall higher interest rates....		7 Pakistani companies receive IiP awards KARACHI, Nov 30: Seven Pakistani companies receive Investors in People (IiP) awards for successfully completing the programme initiated by the European Union’s Asia Invest rubric in collaboration with the Pakistan-Belgium Business Forum (PBBF)....
SECP terrifying brokers into submission KARACHI, Nov 30: The directive from Securities & Exchange Commission of Pakistan (SECP) to the three stock exchanges to appoint a non-member director as the chairman of the stock exchanges came on Tuesday, as a bolt from the blue....		Controversy surrounds cotton import ISLAMABAD, Nov 30: A controversy has arisen between the ministries of agriculture and textile over 2.5 million bales of cotton that the latter wanted to import to meet the growing demand...
Drive to clear refund claims by Dec-end KARACHI, Nov 30: The Corporate and Southern Regions of Karachi are working on war-footing to clear all outstanding refund cases to ensure that payments and liquidations are made by December 31,...		Rs21.32bn refunded ISLAMABAD, Nov 30: The tax authorities paid Rs21.327 billion as refund/rebate to exporters during the July-November period of the current fiscal as against Rs30.242 billion the same period last year, indicating a decrease of 29.4...
Regulator agrees to withdraw directive ISLAMABAD, Nov 30: The Securities and Exchange Commission of Pakistan (SECP) has agreed to take back the directive it had issued to all the three stock exchanges on Tuesday asking them...		Stock market extends losses on renewed selling KARACHI, Nov 30: Stocks on Wednesday suffered widespread decline as investors took profit at the highly inflated levels on the blue chip counters under the lead of overvalued oil shares in an actively traded session....
Conditional opening up of services sector urged ISLAMABAD, Nov 30: Pakistan should further open up its services sector for foreign services providers but it should be linked with the condition of getting greater market access for domestic services...		Prices stay firm on cotton market KARACHI, Nov 30: Cotton prices on Wednesday remained stable around the previous levels as spinners and mills continued to make fresh commitments amid brisk trading. “There was a virtual scramble for...
Asian stocks close mixed HONG KONG, Nov 30: Asian stocks closed mixed on Wednesday amid an on-going investor consolidation following another uninspiring performance by Wall Street overnight, dealers said. Of the markets that stood out,...		Humayun to act as facilitator for NAMA talks ISLAMABAD, Nov 30: The Hong Kong secretariat for the sixth WTO ministerial conference has designated Commerce Minister Humayun Akhtar Khan to act as a “facilitator” for the Non-Agricultural Market Access (NAMA) negotiations....
Karachi Port operations KARACHI, Nov 30: Three ships carrying containers and chemicals are due to arrive at the outer anchorage on Thursday, according to KPT sources. Berthing activity at the wharves was active where...		Tea auction NAIROBI, Nov 30: Kenya’s tea prices were mixed at this week’s auction, with some grades improving because of better quality, traders said on Wednesday. Mombassa-based Africa Tea Brokers said there was...
Erratic power supply KARACHI, Nov 30: The Pakistan Tanners Association (PTA) has complained that its member units are getting erratic electric supply, which was affecting the production of leather and made-up units at the Korangi industrial area....		Palm oil prices lower KUALA LUMPUR, Nov 30: Malaysian crude palm oil futures closed down on Wednesday, reversing a firm trend at the midsession, on fears that poor demand through November could leave the physical market with its highest ever stocks of oil....