May 7, 2006	Sunday	Rabi-us-Sani 8, 1427

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EU cuts dumping duty on bedlinen KARACHI, May 6: The European Union has implemented the reduced anti-dumping duty of 5.8 per cent on imports of bedlinen from Pakistan, with effect from May 7, 2006....		Paris Club loan on the rise despite $1.66bn payment KARACHI, May 6: Although Pakistan has serviced $1.669 billion over the last three years, the Paris Club loan has been rising, reflecting high interest rates even after rescheduling and restructuring of loans....
WB calls for framework to boost exports: Fish, farm products ISLAMABAD, May 6: The World Bank has asked the government to adopt an “institutional and legal framework” for enhancing fish and agro based exports, as mandated by the World Trade Organisation (WTO)....		Pakistan urges US to show flexibility: BIT draft clauses ISLAMABAD, May 6: Prime Minister Shaukat Aziz on Saturday urged the United States to show flexibility in some clauses of the draft bilateral investment treaty (BIT) that delayed the signing of the agreement....
Next Sindh budget within medium-term fiscal framework KARACHI, May 6: Following the directives of the World Bank, the Sindh government is preparing the next budget within a medium-term fiscal framework that will stipulate next three to five years’...		19 EoIs for Heavy Mechanical Complex ISLAMABAD, May 6: The Privatisation Commission (PC) has received 19 Expressions of Interest (EoIs) for acquiring 90 per cent shares of Heavy Mechanical Complex (HMC) with management control on an “as is where is” basis....
Tea imports from India may rise to 10-15m kg KARACHI, May 6: Pakistani traders are eyeing import of 10-15 million kg of Indian tea this year as compared to 9.3 million kg in 2005 after exchanging healthy negotiations with Indian traders during their recent visit to the neighbouring country....		CFS rates fall on hectic selling KARACHI, May 6: The weighted average CFS rate on the Karachi Stock Exchange last week fell by 240 basis points at 15 per cent from the previous 17.4...
Hotel bills payment in foreign currency sought KARACHI, May 6: Foreigners visiting Pakistan should be required to pay their hotel bills in foreign currency, the Institute of Chartered Accountants of Pakistan (ICAP) makes this interesting suggestion in its pre-budget proposals for different industries....		Call to reduce business cost KARACHI, May 6: The Member Sales Tax, Central Board of Revenue, Shahid Ahmed, while identifying the major challenges confronting the economy, has stressed the need for steps to bring the cost of doing business down in the country....
TCP buys sugar KARACHI, May 6: The Trading Corporation of Pakistan has purchased 75,000 tons of white sugar at $509 per ton C&F Karachi, a company spokesman said on Saturday....		CBR, Sindh to reconcile excise duty accounts KARACHI, May 6: The Central Board of Revenue (CBR) and Sindh Finance Ministry will reconcile their accounts on excise duty paid by telecom operators to determine their share in the excise duty collected....
Cotton market firm on ginners’ high demand KARACHI, May 6: Cotton market on Saturday showed firm trend as ginners raised their asking prices in an apparent move to keep a bold face in the backdrop of higher unsold stocks lying in their godowns....		$500m bond HYDERABAD, May 6: Sri Lanka will go ahead with its maiden $500m sovereign bond issue despite political problems and violence in the country, a government minister said on Saturday....
Tea plucking NAIROBI, May 6: A leading Kenya tea plantation grower defended on Saturday a decision to use machines to pluck tea, saying figures of massive job losses quoted by labour unions were exaggerated....		Opec members may be sued on price issue: New US law in offing RIYADH, May 6: Energy issues are getting increasingly mired into the geo-strategic politics. Mind boggling moves, with possibly disastrous consequences, are being made on the global energy chessboard, all around....
CDC branch to widen capital base HYDERABAD, May 6: Chairman Securities and Exchange Commission of Pakistan Razi-ur-Rahman Khan on Saturday inaugurated the branch office of Central Depository Company of Pakistan Limited (CDC) in Hyderabad....		Karachi Port operations KARACHI, May 6: Seven ships including a car carrier with 160 old vehicles are due to arrive at the outer anchorage on Sunday, according to KPT sources....