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June 22, 2007 Friday Jamadi-us-Sani 06, 1428 Rs13 billion PSDP for Balochistan: No new scheme QUETTA, June 21: For the third consecutive year the Balochistan development budget for 2007-08 does not carry any new scheme for want of funds.... 29 districts to get Rs16.8 billion QUETTA, June 21: The Balochistan government will transfer Rs16.81 billion to its 29 districts in the year 2007-08 as against Rs15.23 billion in the current fiscal year, said Finance Minister Syed...   Tea smuggling to reach 90m kg KARACHI, June 21: Smuggling of tea will surge to 90 million kg in 2007 as compared to 70 million kg in 2006 as the government has further made legal imports costlier by levying one per cent surcharge in the budget 2007-08.... Govt drops Competition Commission plan ISLAMABAD, June 21: The government has shelved its own proposal to create a “Competition Commission” aimed at preventing cartalisation and restrictive trade practices because of immense pressure by a group of influential businessmen.... Stocks falter on delay in PSO bidding KARACHI, June 21: Stocks on Thursday reacted from the overnight higher levels as follow-up support turned shy owing to delay in PSO bidding and rumours of dissolution of assemblies leading to snap elections.... Capital gains tax waiver to cost Rs112bn ISLAMABAD, June 21: The extension in deferment of the capital gains tax, allegedly under pressure from a lobby, is expected to deprive the national kitty of over Rs112 billion during the next fiscal year 2007-08.... Talks among key WTO players collapse POTSDAM, June 21: Crunch talks between four key players in the World Trade Organisation on a global trade deal collapsed on Thursday, sending hopes for an accord this year into a tailspin.... Pakistan hopeful of positive outcome ISLAMABAD, June 21: Pakistan is optimistic of positive outcome of the current round of negotiations for an early finalisation of the Doha development agenda. Commerce Minister Humayun Akhtar Khan told Dawn... Export ban to stay till wheat prices stabilise LAHORE, June 21: The government will not allow export of wheat till its price in the domestic markets drops to the level prevailing during May 2007, the adviser to the ministry of finance Dr Ashfaq Hassan Khan said.... Levy of ST on steel industry ISLAMABAD, June 21: Stakeholders of steel industry on Thursday agreed that draft notification about sales tax rate and mechanism will be issued after evolving a consensus.... Proposal to import rice under study ISLAMABAD, June 21: Pakistan is likely to encourage rice imports for market stabilisation owing to lower than projected domestic produce this year, it is learnt.... Oil prices LONDON, June 21: The price of oil on world markets rebounded on Thursday from heavy losses the previous day that were sparked by rising energy inventories in major consumer the US.... 8pc shortfall in customs duty collection KARACHI, June 21: Despite a 20 per cent increase in imports during the first 11 months (July to May) of the current fiscal, revenue collection on account of customs duty remained... Lint prices go wild on panic-buying KARACHI, June 21: Trading on the cotton market on Thursday turned bullish as spinners and mills indulged in panic-buying to corner the floating stock of fine lots from the Punjab cotton belt.... Opec unmoved over US threat VIENNA, June 21: The Organisation of Petroleum Exporting Countries appeared unruffled on Thursday in the face of possible US legal action against its members on grounds of price manipulation.... Punjab spinners to stage protest LAHORE, June 21: Scores of spinners from Punjab plan to stage a demonstration on Friday afternoon outside the National Assembly in Islamabad to press for their demands and impress upon the government to announce a relief package for the textile industry.... Karachi Port operations KARACHI, June 21: Seven ships carrying cars, DAP fertiliser and steel are expected to arrive at the outer anchorage on Friday, according to KPT sources.... Port Qasim KARACHI, June 21: Berthing was active as three ships with containers and 17,730 tons of edible oil were accommodated berths during the last 24 hours, said a PQA press release on Thursday.... S. Korea, US start free trade talks again SEOUL, June 21: The United States proposed revisions on Thursday to parts of a hard-won free trade agreement to reflect Washington''s new commerce guidelines at the start of renegotiations with South Korea, officials said.... Duty exemption ISLAMABAD, June 21: The exemption of duty and taxes on import of raw material for industrial units in the special industrial zones (SIZs) will expire in 2009.... Japan trade surplus up 9.3pc in May TOKYO, June 21: Japan''s trade surplus rose 9.3 per cent from a year earlier to 389.5 billion yen ($3.15 billion) in May on strong exports of cars and steel, the government said on Thursday.... European stocks lower LONDON, June 21: European equities fell on Thursday as dealers digested consolidation news in the stock market sector following overnight losses on Wall Street.... Asian stocks close mixed HONG KONG, June 21: Asian stocks closed mixed on Thursday after Wall Street was sold-off amid rising US bond yields and concerns over possible higher interest rates hurting the subprime mortgage industry.... Malaysian palm oil higher KUALA LUMPUR, June 21: Malaysian crude palm oil futures rebounded from early losses to end higher on Thursday, lifted by speculative buying and firmer prices of rival US soyabean oil.... Dollar gains LONDON, June 21: The dollar gained against the euro and yen on Thursday as traders looked ahead to a key US manufacturing survey later in the day.... Reserves KARACHI, June 21: Pakistan''s total liquid foreign exchange reserves stood at $15,005.9 million on June 16, State Bank of Pakistan said on Thursday.... Order for power plants FRANKFURT, June 21: MAN AG has won an order to build four diesel power plants in Pakistan by 2012, the German conglomerate said on Thursday.... Karachi market rates KARACHI, June 21: The following were Thursday’s commodity market rates in rupees....

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