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Print - 2004-01-22
Non-executive directors' changing role

Non-executive directors' changing role

During the last few years, corporate scandals, one after another, have forced the financial and government circles to question what has suddenly gone wrong with the corporate governance, which has shaken the confidence of the shareholders.
Published 22 Jan, 2004 12:00am
KESC privatisation!

KESC privatisation!

Speaking at a dinner hosted in his honour by the Karachi Chamber of Commerce and Industry on Saturday, Federal Privatisation and Investment Minister, Dr Abdul Hafeez Shaikh sought to prompt its members to form a consortium or a business group and come up
Published 22 Jan, 2004 12:00am
NFC on way to consensus

NFC on way to consensus

The series of meetings between the federal and provincial governments to finalise the sixth NFC Award appear to be inching towards a consensus. The shape of things to come seems to revolve around the acceptance by all stakeholders that the share of the pr
Published 22 Jan, 2004 12:00am
Treason case hearing against Hashmi put off

Treason case hearing against Hashmi put off

Lahore High Court (LHC) Rawalpindi bench has adjourned the hearing of petition demanding the open hearing of the treason case against Makhdoom Javed Hashmi, President of Alliance for Restoration of Democracy (ARD) and acting president of Pakistan Muslim L
Published 22 Jan, 2004 12:00am
Wapda committed to compensating Mangla victims

Wapda committed to compensating Mangla victims

Water and Power Development Authority (Wapda) is committed to imparting vocational training to the Mangla Dam Raising Project (MDRP) victims so as to enhance their earning skills from the economic activity generated in the area by way of implementation of
Published 22 Jan, 2004 12:00am
Pakistani carpets get huge response at world fairs

Pakistani carpets get huge response at world fairs

Pakistani carpets have received an overwhelming response from the visitors at the two international carpet exhibitions, held in the United States and Germany last week.
Published 22 Jan, 2004 12:00am
ADB to establish 'Asian Bonds Online' website

ADB to establish 'Asian Bonds Online' website

Asian Development Bank (ADB) is to establish an "Asian Bonds Online" website to foster development of deeper and more mature bond markets in Asia through a grant approved for US$ 2.4 million, which would be launched in May 2004.
Published 22 Jan, 2004 12:00am
ADB to establish 'Asian Bonds Online' website

ADB to establish 'Asian Bonds Online' website

Asian Development Bank (ADB) is to establish an "Asian Bonds Online" website to foster development of deeper and more mature bond markets in Asia through a grant approved for US$ 2.4 million, which would be launched in May 2004.
Published 22 Jan, 2004 12:00am
Three terrorists arrested

Three terrorists arrested

Police and Federal Intelligence Unit arrested three alleged terrorists from Sargodha on Tuesday and seized nine klashnikov, a number of time bombs, hand grenades and foreign currency from their possession.
Published 22 Jan, 2004 12:00am
ACCA seminar

ACCA seminar

The Association of Chartered Certified Accountants (ACCA) in collaboration with Oxford Brookes University organised a seminar in Lahore.
Published 22 Jan, 2004 12:00am
Staff officer to Wapda chief named

Staff officer to Wapda chief named

Chairman Wapda Tariq Hamid has appointed a senior Wapda officer Mohammad Ajmal as his Personal Staff Officer (Technical) to assist him in the technical matters concerning the organisation.
Published 22 Jan, 2004 12:00am
Petition against Punjab cabinet expansion put off

Petition against Punjab cabinet expansion put off

The Lahore High Court (LHC) on Wednesday put off till second week of February, the proceedings in a petition filed by a member of the Lahore High Court Bar Association, who approached the court against expansion in provincial cabinet as the law officer di
Published 22 Jan, 2004 12:00am
APFTU slams harassment of scientists

APFTU slams harassment of scientists

All Pakistan Federation of Trade Union (APFTU) while severely criticising the government for harassing the nuclear scientists of the country, asked the decision-makers to stop persecuting them, as without their contributions, Pakistan would not have gaine
Published 22 Jan, 2004 12:00am
Textile exporters hail SRO 410 extension

Textile exporters hail SRO 410 extension

Textile exporters have appreciated the extension in SRO 410 and said that it will facilitate them to achieve the export targets.
Published 22 Jan, 2004 12:00am
Nibge and NIA organise symposium on biotechnology

Nibge and NIA organise symposium on biotechnology

Vice Chancellor University of Sindh Mazharul Haque Siddique has said that today majority of population in third world countries are faced with poverty, hunger and diseases and added that the scholars and scientists through their research could alone mitig
Published 22 Jan, 2004 12:00am
PPPP vows to continue struggle for democracy

PPPP vows to continue struggle for democracy

The Punjab Pakistan People's Party Parliamentarian (PPPP) Executive Committee in its meeting here on Wednesday has vowed to continue its struggle for democracy.
Published 22 Jan, 2004 12:00am
Call to promote SMEs to generate jobs

Call to promote SMEs to generate jobs

Governor Punjab, Lieutenant General Khalid Maqbool (Retd), has called for promoting Small and Medium Enterprises (SMEs) to generate more job opportunities for the skilled youth.
Published 22 Jan, 2004 12:00am
Amin Dadabhoy hails Musharraf's address

Amin Dadabhoy hails Musharraf's address

Senator Amin Dadabhoy on Wednesday in a statement said that President General Pervez Musharraf's address to Parliament would put the country on the path of democracy, economic stability and social development.
Published 22 Jan, 2004 12:00am
NCHD's role in eradicating illiteracy lauded

NCHD's role in eradicating illiteracy lauded

The National Commission for Human Development (NCHD) is helping eradicate illiteracy with optimal utilisation of meagre resources. This was stated by Information Minister Sheikh Rashid Ahmed at a certificate giving ceremony of the commission held at Liaqu
Published 22 Jan, 2004 12:00am
CDA to develop E-12 sector prior to D-12

CDA to develop E-12 sector prior to D-12

The Capital Development Authority (CDA) have decided to develop E-12 Sector before restarting the controversial D-12 Sector as Interior Ministry has sought working paper from the CDA for formal approval to kick-off the project, sources told Business Re
Published 22 Jan, 2004 12:00am
PCM Fund public subscription opens on January 22

PCM Fund public subscription opens on January 22

The Pakistan Capital Market Fund Limited (PCM) managed by the Arif Habib Investments will be opened for public subscription from January 22 to January 24, and the planning to sell 37.5 million shares through initial public offering.
Published 22 Jan, 2004 12:00am
PCM Fund public subscription opens on January 22

PCM Fund public subscription opens on January 22

The Pakistan Capital Market Fund Limited (PCM) managed by the Arif Habib Investments will be opened for public subscription from January 22 to January 24, and the planning to sell 37.5 million shares through initial public offering.
Published 22 Jan, 2004 12:00am
NSC secretariat DG re-employed

NSC secretariat DG re-employed

Brigadier Tariq Hamid Khan (Retd) has been re-employed on contract as Director General, National Security Council (NSC) Secretariat, for a period of three years, on standard terms and conditions, with effect from January 14, 2004, says a notification issu
Published 22 Jan, 2004 12:00am
Prgmea ready to sit with EPB to formulate changes in DTRE

Prgmea ready to sit with EPB to formulate changes in DTRE

The Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) has said that it is ready to sit with the Export Promotion Bureau (EPB) to formulate changes in the Duty and Tax Remission Rules on Exports (DTRE) scheme to make it acceptabl
Published 22 Jan, 2004 12:00am
Punjab Bar Council building

Punjab Bar Council building

Chief Minister of Punjab, Chaudhry Pervaiz Elahi will inaugurate new building of Punjab Bar Council (PBC) here on January 24.
Published 22 Jan, 2004 12:00am
Inflows and outflows of rivers

Inflows and outflows of rivers

The position of water inflows/outflows at Mangla and Tarbela along with the reservoir levels and the barrages at 6.00 am on Wednesday.
Published 22 Jan, 2004 12:00am
SRO 410 extension welcomed

SRO 410 extension welcomed

The Pakistan Cotton Fashion Apparel Manufacturers & Exporters Association has welcomed the decision of Ministry of Finance to extend SRO No. 410(1)12001 up to June 30.
Published 22 Jan, 2004 12:00am
Pakistan to be focus country of Hong Kong leather fair

Pakistan to be focus country of Hong Kong leather fair

Chairman, Pakistan Leather Garment Manufacturers and Exporters Association (PLGMEA), Fawad Ijaz Khan said that Pakistan would be the focus country of this year's APLF, the world's biggest leather fair, scheduled to be held from March 29 to April 1, in Hon
Published 22 Jan, 2004 12:00am
Various parts of country receive rain

Various parts of country receive rain

The Punjab metropolis received rain throughout the day on Wednesday, while other parts of the province, Sindh, Balochistan, Northern Areas and Kashmir also received downpour.
Published 22 Jan, 2004 12:00am
FOREIGN TRADE INQUIRIES

FOREIGN TRADE INQUIRIES

Export Promotion Bureau has received the following Trade Enquiries from abroad.
Published 22 Jan, 2004 12:00am
Screening body formed for excise and taxation staff

Screening body formed for excise and taxation staff

The Sindh government has constituted a screening committee for assessing suitability of the employees/officials of Excise and Taxation (E&T) Department terminated in the year 1995.
Published 22 Jan, 2004 12:00am
Call to set up women entrepreneurs city

Call to set up women entrepreneurs city

Women Entrepreneurs of Rawalpindi have called upon the government to make immediate measures to establish a Women Entrepreneurs City (WEC) in order to encourage women to join industrial and export sector and to play their effective role in this field.
Published 22 Jan, 2004 12:00am
MMA to continue to act as strong opposition: Qazi

MMA to continue to act as strong opposition: Qazi

Muttahida Majlis-i-Amal central leader and Jamaat-e-Islami Ameer Qazi Hussain Ahmed on Wednesday said the alliance would continue to play the role of strong opposition in the parliament.
Published 22 Jan, 2004 12:00am
The Weather

The Weather

The weather report of Wednesday (January 21 and the forecast for Thursday (January 22, 2004).
Published 22 Jan, 2004 12:00am
CEC seeks validity of Madressah degrees

CEC seeks validity of Madressah degrees

Chief Election Commission of Pakistan has sought validity of graduation degrees issued by respective seminaries to the candidates who contested October polls and asked the Pakistan Madressah Education Board (PMEB) to verify the authenticity of these degre
Published 22 Jan, 2004 12:00am
New York cotton

New York cotton

Closing prices of New York cotton in US cents/pound on Tuesday.
Published 22 Jan, 2004 12:00am
China to take beneficial steps towards Pakistan

China to take beneficial steps towards Pakistan

China will continue to take mutually beneficial steps to strengthen its relations with Pakistan and other countries of South Asia, said a spokesman of Chinese Foreign Office Kong Quan at weekly news briefing.
Published 22 Jan, 2004 12:00am
New York cotton

New York cotton

Closing prices of New York cotton in US cents/pound on Tuesday.
Published 22 Jan, 2004 12:00am
PTCL team visits New Karachi and Orangi Town exchanges

PTCL team visits New Karachi and Orangi Town exchanges

A high-level team of the Pakistan Telecommunication Company Limited (PTCL) visited the New Karachi and Orangi Town telephone exchanges and found that development work and encroachment on lands has caused damage to underground telephone cables on a mass sc
Published 22 Jan, 2004 12:00am
PIA chooses Sabre to enhance customer loyalty

PIA chooses Sabre to enhance customer loyalty

Sabre Airline Solutions (SAS) and Pakistan International Airlines (PIA) announced successful implementation of Sabre Traverse Loyalty Management System, enabling the airline to improve customer service, reduce operating costs and create a solid foundation
Published 22 Jan, 2004 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (January 21, 2004)
Published 22 Jan, 2004 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (January 21, 2004).
Published 22 Jan, 2004 12:00am
Rain boosts prospects of higher Rabi yield

Rain boosts prospects of higher Rabi yield

The prevailing wet spell is beneficial to agriculture production boosting the prospects of Rabi crops particularly of the wheat to meet the set target during the current year.
Published 22 Jan, 2004 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (January 21, 2004).
Published 22 Jan, 2004 12:00am
Duty relief available under DTRE scheme

Duty relief available under DTRE scheme

The exporters registered under the Duty and Tax Remission of Export (DTRE) scheme are also entitled to avail duty drawback facility under the standard DDB notifications, sources told Business Recorder here on Wednesday.
Published 22 Jan, 2004 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (January 21, 2004).
Published 22 Jan, 2004 12:00am
JSCL long-term entity rating upgraded

JSCL long-term entity rating upgraded

The Pakistan Credit Rating Agency (Pacra) has upgraded the long-term entity rating of Jahangir Siddiqui & Company Limited (JSCL) to 'AA+' (Double A Plus) while maintaining the short-term rating at 'A1+' (A One Plus).
Published 22 Jan, 2004 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Wednesday (January 21) and rates for Thursday (January 22, 2004).
Published 22 Jan, 2004 12:00am
JSCL long-term entity rating upgraded

JSCL long-term entity rating upgraded

The Pakistan Credit Rating Agency (Pacra) has upgraded the long-term entity rating of Jahangir Siddiqui & Company Limited (JSCL) to 'AA+' (Double A Plus) while maintaining the short-term rating at 'A1+' (A One Plus).
Published 22 Jan, 2004 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Wednesday (January 21, 2004).
Published 22 Jan, 2004 12:00am
Redco's lawyers allowed to file a concise statement

Redco's lawyers allowed to file a concise statement

A Division Bench of the Supreme Court on Wednesday agreed to adjourn the Federal Government's petition against the Redco Textile Mills allowing time to company's lawyers to file a concise statement answering issues raised in the additional documents filed
Published 22 Jan, 2004 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (January 21, 2004).
Published 22 Jan, 2004 12:00am
Unisame concerned over delay in forming SME bureau

Unisame concerned over delay in forming SME bureau

The Union of Small and Medium Enterprises (Unisame) has expressed concern on delay in making a SME Bureau under the management of private sector, as recommended by the government.
Published 22 Jan, 2004 12:00am
US investors least concerned about security in Pakistan: Davis

US investors least concerned about security in Pakistan: Davis

United States Chamber of Commerce has identified South Asia as the most favourable region, especially Pakistan for making investments and increasing trade. Now the US business community is least concerned to security conditions in Pakistan as certain inci
Published 22 Jan, 2004 12:00am
Traffic problem in markets should be handled on priority

Traffic problem in markets should be handled on priority

Siraj Kassam Teli, President, Karachi Chamber of Commerce and Industry (KCCI) said in a meeting with the delegates of Old City Alliance of Market Association that authorities should deal with problems of encroachment and traffic congestion in market areas
Published 22 Jan, 2004 12:00am
KESC mobile van for testing new metres

KESC mobile van for testing new metres

If the electricity consumers have any complaint pertaining to the newly installed meters, they can call in the KESC mobile testing van, which would demonstrate accuracy of these metres at their doorstep.
Published 22 Jan, 2004 12:00am
THE RUPEE: mixed trend in currency market

THE RUPEE: mixed trend in currency market

The rupee on Wednesday continued its weakness versus the euro for the second day running in the kerb market, shedding nearly a rupee for buying and selling at Rs 72.74 and Rs 73.05, respectively.
Published 22 Jan, 2004 12:00am
THE RUPEE: mixed trend in currency market

THE RUPEE: mixed trend in currency market

The rupee on Wednesday continued its weakness versus the euro for the second day running in the kerb market, shedding nearly a rupee for buying and selling at Rs 72.74 and Rs 73.05, respectively.
Published 22 Jan, 2004 12:00am
Cement: PAKISTAN SLAG CEMENT INDUSTRIES LIMITED - Year Ended 30-06-2003

Cement: PAKISTAN SLAG CEMENT INDUSTRIES LIMITED - Year Ended 30-06-2003

This cement plant of Zulfiqarabad has fallen on difficult days. The company's statutory auditors have made some sour observations, making reference to the Note No 2 annexed to the account under the heading - "Going Concern Assumption" - This is about incu
Published 22 Jan, 2004 12:00am
Police fail to recover TV compere

Police fail to recover TV compere

Rawalpindi Police has failed to recover Miss Noorul Ain, compere of Saarc quiz of Pakistan Television, who was kidnapped by some unknown person 11 days back.
Published 22 Jan, 2004 12:00am
Cement: PAKISTAN SLAG CEMENT INDUSTRIES LIMITED - Year Ended 30-06-2003

Cement: PAKISTAN SLAG CEMENT INDUSTRIES LIMITED - Year Ended 30-06-2003

This cement plant of Zulfiqarabad has fallen on difficult days. The company's statutory auditors have made some sour observations, making reference to the Note No 2 annexed to the account under the heading - "Going Concern Assumption" - This is about incu
Published 22 Jan, 2004 12:00am
Turkish Deputy Prime Minister meets President

Turkish Deputy Prime Minister meets President

Turkish Deputy Prime Minister Abdullah Gul called on President General Pervez Musharraf here on Wednesday. During the meeting, the two sides took account of the regional and international situation and the relations between Pakistan and Turkey.
Published 22 Jan, 2004 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Wednesday (January 21, 2004).
Published 22 Jan, 2004 12:00am
Prime Minister inaugurates work for gas supply to Kalat

Prime Minister inaugurates work for gas supply to Kalat

Prime Minister Mir Zafarullah Khan Jamali has said that the government was taking concrete steps on priority to remove backwardness from Balochistan and to provide amenities to the people of far-flung areas.
Published 22 Jan, 2004 12:00am
Member To Member

Member To Member

Members have subsequently reported the transactions on Wednesday (January 21, 2004).
Published 22 Jan, 2004 12:00am
Monnoo rejects arbitration tribunal's directive

Monnoo rejects arbitration tribunal's directive

All Pakistan Textile Mills Association (Aptma) Chairman, M Waqar Monnoo, has rejected the directive of the arbitration tribunal of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to hold fresh elections of its chairman for 2003-2004.
Published 22 Jan, 2004 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 22 Jan, 2004 12:00am
Rains expose poor quality of road repair work

Rains expose poor quality of road repair work

The rains in Karachi city have exposed the poor quality of road repair work carried out in the city following the last monsoon rains and for which special grant was also given by the Federal Government.
Published 22 Jan, 2004 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.
Published 22 Jan, 2004 12:00am
Debriefings to end within a week: minister

Debriefings to end within a week: minister

Minister for Information and Broadcasting Sheikh Rashid Ahmed on Wednesday said debriefing process of the scientists and other related people will come to an end within a week.
Published 22 Jan, 2004 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 22 Jan, 2004 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

Constitutionally speaking, for good three hours on January 19, 2004 Pakistan had no president. That day President General Pervez Musharraf had left at 7.30 pm on a foreign tour. Under the law at the same very moment chairman of the Senate Muhammamian Soom
Published 22 Jan, 2004 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus Announcements by Companies listed on the Karachi Stock Exchange.
Published 22 Jan, 2004 12:00am
Senate's partial proceedings on Monday may be declared void

Senate's partial proceedings on Monday may be declared void

Perhaps for the first time, partial proceedings of the Senate on Monday might be declared void after the government failed to justify why the chairman presided over the House business after President Musharraf's departure to Turkey.
Published 22 Jan, 2004 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Wednesday (January 21, 2004).
Published 22 Jan, 2004 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.
Published 22 Jan, 2004 12:00am
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