DAWN - Business; April 17, 2008

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April 17, 2008	Thursday	Rabi-us-Sani 10, 1429

KESC to submit plan for improved supply KARACHI, April 16: The Karachi Electric Supply Company is submitting a short-term plan to the government next week for improved electricity supply during summer....		PM urges Saarc to tap vast trade potential LAHORE, April 16: Prime Minister Syed Yusuf Raza Gilani has said that the government machinery will serve as a facilitator rather than a ‘regulator’ and that all barriers in the way of economic growth will be removed....

MSD winds up Pakistan operations KARACHI, April 16: A leading multinational drug company has called it a day, decided to pack up and leave Pakistan. MSD (Merck Sharp & Dohme) has wrapped up their business in...		Date for National Power EoIs extended ISLAMABAD, April 16: The Privatisation Commission on Wednesday extended the date for submission of expressions of interest till May 5 to acquire 51 per cent shares of the National Power Construction Company (NPCC) with management control....

1.36 million unverified mobile SIMs blocked KARACHI, April 16: The cell-phone operators, on the instruction of Pakistan Telecommunication Authority (PTA), have blocked 1.36 million unverified connections given all over the country from January 2007 to-date....		Oil hits record high near $115 LONDON, April 16: The price of New York oil on Wednesday struck a historic peak at $114.95 on news that US energy inventories tumbled last week and as the US currency hit an all-time low against the euro, traders said....

Mango growers seek incentives MULTAN, April 16: Horticulture will be a major player in the country’s future economy, and Pakistan can earn a huge foreign exchange by exporting a large quantity of its globally-acclaimed mango....		Banks ready to contest CCP decision KARACHI, April 16: The seven banks facing penalties imposed by the Competition Commission of Pakistan (CCP) are considering approaching the State Bank and Supreme Court of Pakistan....

Govt plans to export 3m tons of rice ISLAMABAD, April 16: The government is planning to export three million metric tons of surplus rice during 2007-08, which would earn $1.8 billion foreign exchange....		Remittances up by 15pc KARACHI, April 16: Overseas Pakistanis remitted a record $602 million in March as against $520.24 million in the same period last year, a jump of 15.76...

Strategy for Saarc tax reforms KARACHI, April 16: The two-day South Asian tax summit, 2008, concluded here on Wednesday after adopting the ‘Karachi Declaration’ for regional economic development. The participants unanimously agreed that through cohesive tax...		KSE 100-share index hits record high KARACHI, April 16: The KSE 100-share index on Wednesday hit another record high at 15,635.55 points early in the session on strong follow-up support in leading oil shares and blue chips...

Prices stay firm on cotton market KARACHI, April 16: Prices on the cotton market remained stable on Wednesday around the previous levels as spinners were willing buyers of any number of lots below Rs3,400 per maund....		Karachi Port operations KARACHI, April 16: Nine ships carrying palm oil and tallow and to load ethanol are due to arrive at the outer anchorage on Thursday, according to KPT sources....

Port Qasim KARACHI, April 16: Berthing activity was slow as only one container ship was accommodated berth during the last 24 hours, said a PQA press release on Wednesday....		Dollar plunges LONDON, April 16: The dollar plunged to an all-time low against the euro here on Wednesday on news of a record rise in eurozone inflation, a fresh downturn in the foundering...

Clarification ISLAMABAD, April 16: The LPG Association of Pakistan has clarified that its press release published in the April 9 issue of Dawn (More LPG stations to be set up) quoted Sohail A....		Palm oil futures slip KUALA LUMPUR, April 16: Malaysian palm oil futures fell on Wednesday, slipping from a three-week high hit the previous day on profit-taking but strong demand from India limited losses....

Asian stocks close mostly up HONG KONG, April 16: Asian stocks closed mostly up on Wednesday after official figures showed robust Chinese economic growth and record oil prices boosted resources stocks, but concerns about inflation grew....		Karachi market rates KARACHI, April 16: The following were Wednesday commodity market rates in rupees....