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Print - 2004-03-22
Temporary cease-fire declared in Wana

Temporary cease-fire declared in Wana

The government declared a cease-fire on Sunday with al Qaeda and Taleban remnants in Wana, South Waziristan Agency, to provide safe passage to the grand Jirga members to intervene into the matter.
Published 22 Mar, 2004 12:00am
Temporary cease-fire declared in Wana

Temporary cease-fire declared in Wana

The government declared a cease-fire on Sunday with al Qaeda and Taleban remnants in Wana, South Waziristan Agency, to provide safe passage to the grand Jirga members to intervene into the matter.
Published 22 Mar, 2004 12:00am
Pak-Afghan-US commission meets on March 22

Pak-Afghan-US commission meets on March 22

A tripartite commission, comprising Pakistan, Afghanistan and the United States will meet here on Monday to take stock of the situation in Wana, where an operation against al Qaeda suspects and their local harbourers is going on.
Published 22 Mar, 2004 12:00am
Pak-Afghan-US commission meets on March 22

Pak-Afghan-US commission meets on March 22

A tripartite commission, comprising Pakistan, Afghanistan and the United States will meet here on Monday to take stock of the situation in Wana, where an operation against al Qaeda suspects and their local harbourers is going on.
Published 22 Mar, 2004 12:00am
IAEA urges Iran to be 'transparent'

IAEA urges Iran to be 'transparent'

Iran's government should be completely transparent with nuclear inspectors to clear its name and prove the country's nuclear programme is solely for civilian use, UN nuclear watchdog chief Mohamed ElBaradei said on Sunday.
Published 22 Mar, 2004 12:00am
Bank Alfalah to sell 20 percent holding through KSE

Bank Alfalah to sell 20 percent holding through KSE

Bank Alfalah, one of the fastest growing private banks in the country, has applied for listing at the Karachi Stock Exchange (KSE) and would offer 20 percent of its shareholding to the general public.
Published 22 Mar, 2004 12:00am
Bank Alfalah to sell 20 percent holding through KSE

Bank Alfalah to sell 20 percent holding through KSE

Bank Alfalah, one of the fastest growing private banks in the country, has applied for listing at the Karachi Stock Exchange (KSE) and would offer 20 percent of its shareholding to the general public.
Published 22 Mar, 2004 12:00am
Over 500 killed as Maoists storm Nepal town

Over 500 killed as Maoists storm Nepal town

Maoist rebels fighting to overthrow Nepal's monarchy stormed overnight into a district headquarters, looting the bank and opening the jail in some of the kingdom's bloodiest fighting in months, officials said on Sunday.
Published 22 Mar, 2004 12:00am
Over 500 killed as Maoists storm Nepal town

Over 500 killed as Maoists storm Nepal town

Maoist rebels fighting to overthrow Nepal's monarchy stormed overnight into a district headquarters, looting the bank and opening the jail in some of the kingdom's bloodiest fighting in months, officials said on Sunday.
Published 22 Mar, 2004 12:00am
Hamas commander among five killed in raid

Hamas commander among five killed in raid

A Hamas commander and his wife were among a group of at least five Palestinians killed early Sunday during an Israeli army raid in the southern Gaza Strip, Palestinian witnesses and medical sources said.
Published 22 Mar, 2004 12:00am
Hamas commander among five killed in raid

Hamas commander among five killed in raid

A Hamas commander and his wife were among a group of at least five Palestinians killed early Sunday during an Israeli army raid in the southern Gaza Strip, Palestinian witnesses and medical sources said.
Published 22 Mar, 2004 12:00am
Overhauled tax system to be introduced: CBR chief

Overhauled tax system to be introduced: CBR chief

A completely overhauled tax system, including overall rationalisation, IT solutions, speedy refunds and trimming discretion, would be introduced for which CBR officials are very much eager, said CBR Chairman Abdullah Yusuf while talking to Business Rec
Published 22 Mar, 2004 12:00am
Overhauled tax system to be introduced: CBR chief

Overhauled tax system to be introduced: CBR chief

A completely overhauled tax system, including overall rationalisation, IT solutions, speedy refunds and trimming discretion, would be introduced for which CBR officials are very much eager, said CBR Chairman Abdullah Yusuf while talking to Business Rec
Published 22 Mar, 2004 12:00am
Cement and energy groups cheer investors' mood

Cement and energy groups cheer investors' mood

The Karachi Stock Exchange (KSE) index of 100 companies during last week made another history as the index touched the much talked of 5000 points mark with relatively higher turnover which was mostly concentrated in cement, gas, fuel, oil and some scrips
Published 22 Mar, 2004 12:00am
Cement and energy groups cheer investors' mood

Cement and energy groups cheer investors' mood

The Karachi Stock Exchange (KSE) index of 100 companies during last week made another history as the index touched the much talked of 5000 points mark with relatively higher turnover which was mostly concentrated in cement, gas, fuel, oil and some scrips
Published 22 Mar, 2004 12:00am
Badla rates up by 70 basis points

Badla rates up by 70 basis points

The weighted average badla rate at Karachi Stock Exchange rose to 8.8 percent from 8.1 percent after rise in share prices last week as activity in telecom and energy sectors improved significantly.
Published 22 Mar, 2004 12:00am
Badla rates up by 70 basis points

Badla rates up by 70 basis points

The weighted average badla rate at Karachi Stock Exchange rose to 8.8 percent from 8.1 percent after rise in share prices last week as activity in telecom and energy sectors improved significantly.
Published 22 Mar, 2004 12:00am
Leasing sector records 52 percent growth

Leasing sector records 52 percent growth

The leasing sector has achieved a landmark growth rate of 52 percent in the first six months of the current fiscal year because of turnaround in the country's economy combined with low interest rates which have lowered the cost of borrowing.
Published 22 Mar, 2004 12:00am
Leasing sector records 52 percent growth

Leasing sector records 52 percent growth

The leasing sector has achieved a landmark growth rate of 52 percent in the first six months of the current fiscal year because of turnaround in the country's economy combined with low interest rates which have lowered the cost of borrowing.
Published 22 Mar, 2004 12:00am
GDP growth forecast raised to 5.5 percent

GDP growth forecast raised to 5.5 percent

The Asian Development Bank (ADB) has raised its GDP growth forecast for Pakistan to 5.5 percent as economic growth gained further momentum in the first half of fiscal year 2004.
Published 22 Mar, 2004 12:00am
GDP growth forecast raised to 5.5 percent

GDP growth forecast raised to 5.5 percent

The Asian Development Bank (ADB) has raised its GDP growth forecast for Pakistan to 5.5 percent as economic growth gained further momentum in the first half of fiscal year 2004.
Published 22 Mar, 2004 12:00am
APHC agrees to hold talks with Delhi on March 27

APHC agrees to hold talks with Delhi on March 27

Kashmiri freedom fighters said on Sunday they have agreed to hold a second round of talks with the Indian government on March 27 and would press New Delhi to curb alleged human rights abuses.
Published 22 Mar, 2004 12:00am
APHC agrees to hold talks with Delhi on March 27

APHC agrees to hold talks with Delhi on March 27

Kashmiri freedom fighters said on Sunday they have agreed to hold a second round of talks with the Indian government on March 27 and would press New Delhi to curb alleged human rights abuses.
Published 22 Mar, 2004 12:00am
Egypt sees budget deficit doubling in 2004-5

Egypt sees budget deficit doubling in 2004-5

The Egyptian government projected on Sunday that its budget deficit will increase almost twofold in the year starting July 1, after promises to increase subsidies to hold down food prices for the poor.
Published 22 Mar, 2004 12:00am
NBP's net profit likely to climb by 77 percent

NBP's net profit likely to climb by 77 percent

The National Bank of Pakistan (NBP) is likely to show tremendous financial results for 2003 and its profit might record an increase of 77 percent on back of capital market investments and lending made to industrial sector following growth in country's eco
Published 22 Mar, 2004 12:00am
NBP's net profit likely to climb by 77 percent

NBP's net profit likely to climb by 77 percent

The National Bank of Pakistan (NBP) is likely to show tremendous financial results for 2003 and its profit might record an increase of 77 percent on back of capital market investments and lending made to industrial sector following growth in country's eco
Published 22 Mar, 2004 12:00am
Descon wins bidding for Mangla Dam project

Descon wins bidding for Mangla Dam project

Descon Engineering Limited participated in the tenders for Mangla Dam Raising Project, along with their JV partners, came the lowest after tender opening here at the Wapda House on Saturday.
Published 22 Mar, 2004 12:00am
Descon wins bidding for Mangla Dam project

Descon wins bidding for Mangla Dam project

Descon Engineering Limited participated in the tenders for Mangla Dam Raising Project, along with their JV partners, came the lowest after tender opening here at the Wapda House on Saturday.
Published 22 Mar, 2004 12:00am
Fernandes plays down 'complaint' with US

Fernandes plays down 'complaint' with US

Indian Defence Minister George Fernandes said on Sunday that India's "strategic partnership" with the United States remained intact after a rift over the US designation of Pakistan as a major military ally.
Published 22 Mar, 2004 12:00am
Fernandes plays down 'complaint' with US

Fernandes plays down 'complaint' with US

Indian Defence Minister George Fernandes said on Sunday that India's "strategic partnership" with the United States remained intact after a rift over the US designation of Pakistan as a major military ally.
Published 22 Mar, 2004 12:00am
Saudi Arabian entrepreneurs keen to invest in NWFP

Saudi Arabian entrepreneurs keen to invest in NWFP

Dr Abdullah Bin Abdur Rahman Almani, an Arab investor, in a meeting with the NWFP Chief Minister Akram Khan Durrani expressed interest to invest in various sectors in Frontier province.
Published 22 Mar, 2004 12:00am
Afghanistan captures terrorists fleeing Pakistan

Afghanistan captures terrorists fleeing Pakistan

About a dozen suspected al Qaeda or Taleban remnants have been captured in Afghanistan after crossing the border from Pakistan, where a major military offensive is underway, a foreign ministry spokesman said on Sunday.
Published 22 Mar, 2004 12:00am
Two Israelis suspected of planning Iran arms deal

Two Israelis suspected of planning Iran arms deal

Two Israelis are suspected of planning to supply military equipment to Iran in a case linked to an American indicted for arms smuggling by a US court, Israeli police and security sources said on Sunday.
Published 22 Mar, 2004 12:00am
15 kidnapped bus passengers recovered

15 kidnapped bus passengers recovered

Law enforcement agencies got released 15 passengers of a coach here on Sunday, who were kidnapped by dacoits on February 27 for ransom.
Published 22 Mar, 2004 12:00am
27 Indian army men injured

27 Indian army men injured

In the Indian occupied Kashmir an Indian army vehicle has been exploded in a land mine blast.
Published 22 Mar, 2004 12:00am
Al-Khidmat men kept Malir reps away from Nazim poll session

Al-Khidmat men kept Malir reps away from Nazim poll session

Two elected representatives of Malir Town said that they were kept away from the session of Town Council on March 17 by councillors and co-ordinators of Al-Khidmat group, as such they could not use their right to vote for election of Nazim.
Published 22 Mar, 2004 12:00am
PPP to launch anti-Musharraf movement from March 22

PPP to launch anti-Musharraf movement from March 22

Pakistan People's Party has announced to launch a "Musharraf Bhagao - Mulk Bachao" movement from today to protest against the price hike of essential commodities, lawlessness and growing unemployment. It also announced to observe the 25th death anniversar
Published 22 Mar, 2004 12:00am
Designation as major non-Nato ally by US termed farce

Designation as major non-Nato ally by US termed farce

Designation of Pakistan as a major non-Nato ally by the United States is nothing other than a farce because the US wants to use Pakistan as its naval and air bases to keep the vigilant eyes on South Asia and China, Syed Munawar Hassan, Secretary General o
Published 22 Mar, 2004 12:00am
Heatwave continues

Heatwave continues

There was no relief from the heatwave in Karachi despite of some sea breeze blowing in the morning and evening.
Published 22 Mar, 2004 12:00am
Majlis-i-Amal condemns Wana operation

Majlis-i-Amal condemns Wana operation

The Muttahida Majlis-i-Amal (MMA) on Sunday strongly condemned the ongoing operation launched by the government in tribal areas and came hard on the policies being adopted by President General Pervez Musharraf asking him to resign from his post in the bes
Published 22 Mar, 2004 12:00am
Government trying to determine identity of Wana terrorists

Government trying to determine identity of Wana terrorists

Pakistan's High Commissioner to the UK Dr Maleeha Lodhi said on Sunday the arrest of another hundred suspected terrorists during the ongoing operation in South Waziristan spoke of Pakistan's significant contribution and resolve to fight against terror.
Published 22 Mar, 2004 12:00am
Lowering cotton prices by ginners results in some good buying

Lowering cotton prices by ginners results in some good buying

Pulling down prices early in last week generated some good buying prompting ginners to reassess the situation owing to world rates moving on the reverse course, relevant sources said commenting on the week's trading which ended on March 20, 2004.
Published 22 Mar, 2004 12:00am
Prices move both ways on commodity markets

Prices move both ways on commodity markets

Commodities moved both ways on the wholesale markets during the week ended on March 20 2004. Fluctuations were marked in plastic mouldings, teas, jute, wheat, guwar, Bajra, yellow peas and its dal, 50x50, gram and dal gram, Irri-6 Sindh and til Sindh.
Published 22 Mar, 2004 12:00am
Eight percent less arrival of seed cotton in ginneries

Eight percent less arrival of seed cotton in ginneries

The seed cotton arrival in Sindh ginneries continue to flag 8 percent decline as compared to the corresponding period last year, but the monitoring cell was optimistic that cotton production losses would be further trimmed when the final survey of the cot
Published 22 Mar, 2004 12:00am
Wapda launches recovery campaign

Wapda launches recovery campaign

Wapda on the special directive of Prime Minister Mir Zafarullah Khan Jamali has launched nation-wide campaign for the recovery of Rs 44.296 billion stuck up arrears from defaulters.
Published 22 Mar, 2004 12:00am
Softech 2004 begins on March 22

Softech 2004 begins on March 22

Softech 2004 moot will be held on 22nd and 23rd March, 2004 at the Lahore Campus of National University of Computer & Emerging Sciences. The opening ceremony will be performed by Aamir Mateen, Managing Director of Pakistan Software Export Board.
Published 22 Mar, 2004 12:00am
'Toll collection being improved to enhance income'

'Toll collection being improved to enhance income'

The Chairman National Highway Authority (NHA) Major General Farrukh Javed said the toll-collection system was being improved to increase the NHA's income, which is currently stagnant at Rs 2.5-3 billion per year.
Published 22 Mar, 2004 12:00am
LHC benches for this week

LHC benches for this week

As many as 10 division benches and 26 single benches will work at principal seat of the Lahore High Court during the week commencing from Monday (March 22).
Published 22 Mar, 2004 12:00am
Identification of areas in agri sector praised

Identification of areas in agri sector praised

The Union of Small & Medium Enterprises (UNISAME) has appreciated the identification of various areas in agricultural sector by the Ministry of Food, Agriculture & Livestock for investment.
Published 22 Mar, 2004 12:00am
NIPA to organise lectures by Indian economist

NIPA to organise lectures by Indian economist

National Institute of Public Administration (NIPA), Karachi will organise a series of two lectures by Dr Joel Ruet, Head Economist, Centre for Social Sciences and Visiting Professor at Jawaharlal University, New Delhi, India on Thursday, March 25.
Published 22 Mar, 2004 12:00am
Safar moon not sighted

Safar moon not sighted

The second month of Islamic calendar, Safar-ul-Muzzafar will begin on Tuesday (March 23), as new moon was not sighted anywhere in the country.
Published 22 Mar, 2004 12:00am
Call for exploring more markets for Pakistani products

Call for exploring more markets for Pakistani products

The Chairman Senate, Muhammadmian Soomro has stressed upon finding more markets and going in for extensive exhibitions for promotion of Pakistani products in the international market.
Published 22 Mar, 2004 12:00am
High-level contamination found in water used in Karachi

High-level contamination found in water used in Karachi

The Environmental Protection Agency, Sindh has found high-level biological contamination in drinking water consumed by the citizens in Karachi that causes various pollution-borne diseases.
Published 22 Mar, 2004 12:00am
CIBE wins prizes

CIBE wins prizes

Commecs Institute of Business Education (CIBE) bagged 1st and 2nd prizes in the City Flower Show, organised by Karachi Horticultural Society on March 06, 2004 at Defence View Club.
Published 22 Mar, 2004 12:00am
Mangla Dam victims to be rehabilitated from May this year

Mangla Dam victims to be rehabilitated from May this year

The phased process for rehabilitation of the affectees of the gigantic Mangla Dam raising project coupled with initial work on the project, including formal survey to launch the construction work, will begin from May this year, said engineer Chaudhry Amir
Published 22 Mar, 2004 12:00am
Chinese showing interest in Pakistani handicrafts

Chinese showing interest in Pakistani handicrafts

A large number of local residents and businessmen visited the handicrafts stall, set up at national art exhibition in Beijing this week, showing keen interest in the products, especially those made by marble and onyx.
Published 22 Mar, 2004 12:00am
India level ODI series 2-2

India level ODI series 2-2

Rahul Dravid and Mohammad Kaif struck unbeaten half-centuries to lead India to a fighting five-wicket win over Pakistan in the fourth one-day international on Sunday.
Published 22 Mar, 2004 12:00am
India level ODI series 2-2

India level ODI series 2-2

Rahul Dravid and Mohammad Kaif struck unbeaten half-centuries to lead India to a fighting five-wicket win over Pakistan in the fourth one-day international on Sunday.
Published 22 Mar, 2004 12:00am
Kumble and Agarkar declared fit for Test series

Kumble and Agarkar declared fit for Test series

Leg-spinner Anil Kumble has been declared fit to play in the upcoming Test series in Pakistan, a top Board of Control for Cricket in India (BCCI) official said on Sunday.
Published 22 Mar, 2004 12:00am
Matches being played in true spirit: Rashid

Matches being played in true spirit: Rashid

Federal Minister for Information and Broadcasting, Sheikh Rashid Ahmed said here Sunday that ongoing Pak-India cricket series was being contested in true spirit of the game and people around the globe are enjoying this thrilling cricket.
Published 22 Mar, 2004 12:00am
Vajpayee pats cricket team

Vajpayee pats cricket team

Prime Minister Atal Behari Vajpayee Sunday congratulated the Indian cricket team for its five-wicket victory against Pakistan in the fourth one-day international match in Lahore.
Published 22 Mar, 2004 12:00am
Mishra watches Lahore ODI

Mishra watches Lahore ODI

Indian National Security Advisor Brajesh Mishra, who has been deeply involved in the recent steps towards normalisation of relations with Pakistan, Sunday watched the fourth one-day international day-night cricket match between the Pakistan and India here
Published 22 Mar, 2004 12:00am
Sunil Shetty optimistic about friendly ties with Pakistan

Sunil Shetty optimistic about friendly ties with Pakistan

Bollywood star Sunil Shetty has expressed the optimism that relations between India and Pakistan would become 'more close and friendly' with people-to-people contact and frequent exchange of delegations between the two countries.
Published 22 Mar, 2004 12:00am
Security plan chalked out for SAF games

Security plan chalked out for SAF games

About 1500 Rangers and 700 Frontier Constabulary security personnel will be called for the security assistance to capital police during the 9th SAF games to be held here from March 29 to April 7, 2004.
Published 22 Mar, 2004 12:00am
The right noises

The right noises

Pakistan has been doing quite well in consolidating its fiscal position in the recent years.
Published 22 Mar, 2004 12:00am
Onward with ATMs

Onward with ATMs

The inter-connectivity of two ATM switches - MNET of the Muslim Commercial Bank and I-Link of ABN Amro Bank, that the State Bank Governor, Dr Ishrat Husain, formally inaugurated on March 16, will certainly go down as an epoch-making event in the history o
Published 22 Mar, 2004 12:00am
Power tariff and losses

Power tariff and losses

Power tariff and losses often come under criticism in the media, in editorials, columns and articles as well. They say that electricity rates are higher in Pakistan than many other countries, a true criticism. No doubt, the higher the price of the energy
Published 22 Mar, 2004 12:00am
LTIA seeks arrest of dacoits

LTIA seeks arrest of dacoits

Lahore Township Industries Association (LTIA) has warned the government to arrest the dacoits involved in dacoity incident in a local ghee industry, otherwise industrialists from the Lahore Township industrial area would be forced to close down their unit
Published 22 Mar, 2004 12:00am
Trade policy: some suggestions

Trade policy: some suggestions

The Sukkur Chamber of Commerce and Industry has chalked out the following proposals/suggestions in connection with the formulation of trade policy 2004-2005:
Published 22 Mar, 2004 12:00am
Cost of friendship with America

Cost of friendship with America

In the end-1940s /early 1950s, the first prime minister of Pakistan had invitations from both the USSR (ex) and the USA for paying official visit to those countries. However, the visit to USA did materialise.
Published 22 Mar, 2004 12:00am
Wolfson fellowship

Wolfson fellowship

The Charles Wallace Pakistan Trust has proposed one to two fellowships for Pakistani journalists to be conducted at Wolfson College Cambridge, United Kingdom.
Published 22 Mar, 2004 12:00am
Taiwan polls widen ethnic divide

Taiwan polls widen ethnic divide

As Taipei subway trains pull to a stop, passengers hear a soft female voice announce the name of the next station in three Chinese dialects.
Published 22 Mar, 2004 12:00am
Indonesian parties jostle for Java election prize

Indonesian parties jostle for Java election prize

Operating from a rundown house with a small sign in front, Mardiono exudes the confidence of a politician who can smell power for his party ahead of Indonesia's parliamentary elections next month.
Published 22 Mar, 2004 12:00am
Insiders trading

Insiders trading

Pakistan Oilfields Limited half yearly financial results were announced on 23rd of February 2004, showing 1.24 billion rupees net after tax profit. This shows almost Rs 19 earning per share on an annual basis.
Published 22 Mar, 2004 12:00am
Steel prices

Steel prices

Your editorial, "the rapidly rising steel prices," is most timely. There is no point in blaming Pakistan Steel Mills for increasing their prices.
Published 22 Mar, 2004 12:00am
Guantanamo Bay detainees providing intelligence: New York Times

Guantanamo Bay detainees providing intelligence: New York Times

Prisoners at the Guantanamo Bay detention centre have provided interrogators with intelligence over the last two years, including details about al Qaeda's chemical and biological weapons efforts and its use of charities as false fund-raising fronts, The N
Published 22 Mar, 2004 12:00am