COVER STORY CREDIT CARDS

The use of credit cards is slowly taking shape and direction in Pakistan, which less than a decade ago used to be a strictly cash-only society. Today, such globally accepted credit cards as MasterCard and Visa are issued by many foreign as well as domestic banks and the number of users, though still comparatively small, has been on a constant increase.

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NORTHERN BYPASS
President Pervez Musharraf performed the ground breaking ceremony of the long awaited project of Northern Bypass last week. After completion of the project, the entire heavy traffic meant for the upcountry will move outside the city, which hopefully give a much cleaner and pleasant environment to the passersby. Northern Bypass will en route from the outskirts of the industrial areas of Mauripur, Hawks Bay, Shershah and Site Industrial area and North Karachi.

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WHITE OIL PIPELINE
Three local commercial banks have arranged a syndicated loan and bank guarantees for white oil pipeline. The US$ 480 million project is joint venture of PARCO with local oil marketing companies. It will help in safe and pollution free speedy transportation of POL products.

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