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| May 30, 2006 | Tuesday | Jumadi-ul-Awwal 2, 1427 |
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Competition Commission to replace MCA
ISLAMABAD, May 29: Adviser to Prime Minister on Finance Dr Salman Shah announced here on Monday that the Monopoly Control Authority (MCA) was being transformed into a ‘Competition Commission’ to be effective from the fiscal year 2006-07.... 
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Budget aims at 7pc GDP growth, 6.5pc inflation ISLAMABAD, May 29: The budget for 2006-07 will have seven per cent GDP growth rate, 4.2 per cent fiscal deficit target, 6.5 per cent inflation rate and a suitable increase in...
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Dollar hits 19-month high against rupee
KARACHI, May 29: The US dollar on Monday hit 19-month high against the rupee amid fears that the government might impose some restrictions on imports which swelled to record high during the current fiscal....
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FPCCI for 10pc GST to boost industrial growth
KARACHI, May 29: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to reduce the 15 per cent general sales tax (GST) to 10 per cent in order to speed up industrial growth and economic uplift....
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No formula for feed gas delays expansion: New urea plants
LAHORE, May 29: The federal government’s failure to decide a fresh criterion for feed gas (raw material) allocation for the establishment of the proposed urea plants, as well as to announce...
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$300m fund launched
ISLAMABAD, May 29: Prime Minister Shaukat Aziz on Monday launched a $300 million buyout fund by two private equity firms and said it would facilitate up to $1 billion investment in Pakistan’s various industries in four years....
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Banks need different regulatory settings: SBP
KARACHI, May 29: State Bank Governor Dr Shamshad Akhtar here on Monday said that different regulatory settings were required to examine, evaluate and analyse banks differently from other corporate entities....
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GI law on products yet to be drafted
ISLAMABAD, May 29: The government is likely to miss the second deadline of June 30 set for drafting a law to protect geographical indications (GIs) — ownership rights of certain products...
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Lucky becomes largest cement producer
KARACHI, May 29: Lucky Cement Limited has started its new plant at Karachi with a production capacity of 4,000 tons per day, making it the single largest cement manufacturing company in Pakistan,” Executive Director Mr....
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KSE plunge wipes out Rs113bn from market capital
KARACHI, May 29: Stocks on Monday took another massive plunge on panic- selling originating from all and sundry wiping out Rs113bn from the market capital as shares prices of oil and bank giants fell like house of cards....
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Wheat export
BUENOS AIRES, May 29: Argentine export commitments of 2005-06 wheat were 7.01 million tons by May 26, up from 6.915 million tons a week earlier, the Agriculture secretariat said on Monday....
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Karachi Port operations
KARACHI, May 29: Seven ships carrying palm oil and fertiliser are expected to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at the wharves was maintained on the higher side where a dozen ships were berthed....
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Port Qasim
KARACHI, May 29: Two ships carrying 47,743 tons of diesel oil and 17,100 tons of sugar were accommodated at Fotco Terminal and MPT during the last 24 hours, said a PQA press release on Monday....
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European shares down
PARIS, May 29: European shares closed down in holiday-thinned trade on Monday as interest rate worries continued to gnaw away, although steel stocks again rose on hopes of further consolidation....
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Trading gets slow on cotton market
KARACHI, May 29: Trading on the cotton market resumed on a steady note but physical business remained at low ebb as price idea of ginners and spinners failed to find a meeting ground....
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Palm oil lower
KUALA LUMPUR, May 29: Malaysian crude palm oil futures ended lower on Monday, with sentiment soured by rising production, lower exports and a slightly firmer ringgit currency....
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