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| November 01, 2006 | Wednesday | Shawwal 8, 1427 |
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Privatisation of three key units shelved
ISLAMABAD, Oct 31: The government has put on hold the privatisation of three major units including flagship Heavy Mechanical Complex (HMC) on political considerations ahead of upcoming general elections next year, Dawn has learnt.... 
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Rs2bn tax fraud unearthed in raw material imports: Misuse of exemption limits
KARACHI, Oct 31: The Central Board of Revenue (CBR) has unearthed a scam of Rs34.7 billion ($578 million) in import of raw material where an importer, by misusing income tax exemption certificates, deprived the national exchequer to the tune of Rs2.08...
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Minfal hijacked by sugar millers: PAC
ISLAMABAD, Oct 31: The Public Accounts Committee (PAC) has observed that the inability of the agriculture ministry to make the sugar mills start crushing in October not only incur heavy financial...
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Punjab mills may delay crushing by a week
LAHORE, Oct 31: As the sugar prices begin to escalate after the imposition of five per cent regulatory duty and 10 per cent customs duty on the import of the sweetener,...
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Stocks plunge on near-panic selling
KARACHI, Oct 31: Stocks on Tuesday fell from the recent highs on near-panic selling triggered apparently by reports of killing of seven dozen persons in an army action on a seminary...
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Revenue figures delayed
ISLAMABAD, Oct 31: The CBR has delayed the announcement of the revenue collection figures for the first month (October 2006) of second quarter of the fiscal year 2006-07....
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PSO, Hubco, Adamjee skip payouts
KARACHI, Oct 31: On the last day of the current reporting season on Tuesday, three briskly traded companies unveiled their financial figures. Those included Pakistan State Oil (PSO), Hub Power Company (Hubco) and Adamjee Insurance....
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214 vie for franchise utility stores
KARACHI, Oct 31: Some 214 people have applied for opening franchise utility stores in Karachi and many applicants have shown bank statement of over Rs1 million as against the required demand of Rs500,000 by the Utility Stores Corporation (USC)....
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Banks asked to provide data on forex deals
KARACHI, Oct 31: The State Bank has asked all banks to provide additional information regarding the foreign exchange transactions....
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SBP’s directive to banks
KARACHI, Oct 31: The State Bank of Pakistan, as part of restructuring, has decided to consolidate the licensing, regulation and corporate governance of commercial banks, Islamic banks and micro-finance banks at Banking Policy and Regulations Department (BPRD)....
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Brisk trading on cotton market
KARACHI, Oct 31: Brisk trading was witnessed on the cotton market on Tuesday as spinners and mills indulged in near-panic buying to grab the floating stock at the prevailing prices....
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Leather industry seeks relief
KARACHI, Oct 31: Leather garment industry is seeking relief package from the government to make it competitive and also help arrest rapidly falling exports. The industry apprehends that if the government...
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Karachi Port operations
KARACHI, Oct 31: Four vessels carrying containers are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....
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Import bill up by 13.38pc in first quarter
ISLAMABAD, Oct 31: The country’s import bill rose by 13.38 per cent to $7.428 billion during the first quarter (July-Sept) of 2006-07 as compared to $6.551...
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Asian stocks close higher
HONG KONG, Oct 31: Asian stocks closed mostly higher on Tuesday in lacklustre trade following a mixed performance by Wall Street overnight with investors wary about the prospects for the world''s largest economy....
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Gold slips
LONDON, Oct 31: Gold slipped back towards $600 an ounce on Tuesday as oil prices held below $60 a barrel and the dollar bounced, but analysts expect prices to rise over coming weeks as economic worries dominate sentiment....
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