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Print - 2004-03-24
Foreign loan amounts not used to raise forex reserves: Dr Ishrat

Foreign loan amounts not used to raise forex reserves: Dr Ishrat

Dr Ishrat Hussain, Governor, State Bank of Pakistan, has categorically refuted the allegations that foreign loans amounts have been added to boost foreign exchange reserves of the country and said that due to the positive policies of the government, the c
Published 24 Mar, 2004 12:00am
APCA to hold protest demonstrations

APCA to hold protest demonstrations

All Pakistan Clerk Association (APCA) has decided to hold protest rallies and demonstrations across Pakistan in order to protest against unavailability of basic civic facilities to the masses.
Published 24 Mar, 2004 12:00am
MMA to observe protest day on March 25

MMA to observe protest day on March 25

Muttahida Majlis-i-Amal (MMA) has announced to observe a countrywide protest day on Thursday (March 25) against the assassination of the founder of Palestinian resistance organisation Hammas, Sheikh Ahmad Yassin.
Published 24 Mar, 2004 12:00am
Markets awash with smuggled ghee and cooking oil

Markets awash with smuggled ghee and cooking oil

The markets of Peshawar are flooded with the smuggled cooking oil and ghee, being sold out in open market without any check from the law-enforcement agencies, said sources in business circles on Tuesday.
Published 24 Mar, 2004 12:00am
80 percent airstrips given to US: Nawabzada

80 percent airstrips given to US: Nawabzada

Nawabzada Mansoor Ahmed Khan, acting President of ARD, has said that 'Jews commandos, Americans and Indians are present on our airstrips because the present regime, headed by General Pervez Musharraf, has given 80 percent airstrips to the United States'.
Published 24 Mar, 2004 12:00am
Oil tanker collides with trawler: one killed

Oil tanker collides with trawler: one killed

An oil tanker 'MT Averton', carrying about 60,000 tons crude oil, collided with a fishing trawler and caught fire off Oman coast, leaving one crew member dead, besides injuries to several others.
Published 24 Mar, 2004 12:00am
Majlis-i-Amal demands end to Wana operation

Majlis-i-Amal demands end to Wana operation

The Acting President of Muttahida Majlis-i-Amal Qazi Hussain Ahmed has demanded to end the military operation against the innocent people in Wana and said that all the policies of General Musharraf have been proved unsuccessful.
Published 24 Mar, 2004 12:00am
Tribal elders urge gunmen to surrender

Tribal elders urge gunmen to surrender

Tribal elders tried again on Tuesday to persuade al Qaeda fighters and their tribal allies to surrender and end a bloody week-long confrontation near the Afghan border.
Published 24 Mar, 2004 12:00am
ARD shy of launching anti-Musharraf campaign

ARD shy of launching anti-Musharraf campaign

The Alliance for Restoration of Democracy (ARD) is reluctant to go for a countrywide campaign against President Pervez Musharraf as the component parties differ on launch timing.
Published 24 Mar, 2004 12:00am
Indian BSF team due on March 24

Indian BSF team due on March 24

The Indian Border Security Force (BSF) officials' team will arrive here on Wednesday to hold talks with their counterparts, the Pakistan rangers.
Published 24 Mar, 2004 12:00am
Indian minister and legislators meet Shujaat

Indian minister and legislators meet Shujaat

Indian Minister for Shipping Shatrughan Sinha, Members of Indian Parliament Balbeer Panj and Rajeev Shukla, Indian industrialists Noneet Talwar and Rajesh Shaw met president of Pakistan Muslim League (PML) Chaudhry Shujaat Hussain here on Tuesday at his r
Published 24 Mar, 2004 12:00am
MES failed to finalise 523 contracts in 31 years

MES failed to finalise 523 contracts in 31 years

The Military Engineering Services (MES) authorities have failed to finalise bills of 523 contracts during 31 years from 1969 to 2000 involving millions of rupees, an audit report said.
Published 24 Mar, 2004 12:00am
Fahim calls on Prime Minister

Fahim calls on Prime Minister

A delegation of Pakistan People's Party Parliamentarians (PPPP) led by Makhdoom Amin Fahim called on Prime Minister Jamali at the Prime Minister's House on Tuesday.
Published 24 Mar, 2004 12:00am
Quaid's family members visit mausoleum

Quaid's family members visit mausoleum

Family members of Quaid-e-Azam Mohammad Ali Jinnah, living in Pakistan and India, visited Quaid's mausoleum on Pakistan Day on Tuesday to pay homage to the Father of the Nation.
Published 24 Mar, 2004 12:00am
Sindh governor and chief minister visit Quaid's mazar

Sindh governor and chief minister visit Quaid's mazar

Sindh Governor Dr Ishrat-ul-Ibad, along with Chief Minister Sardar Ali Mohammad Maher and his cabinet ministers, visited the mausoleum of Quaid-e-Azam Mohammed Ali Jinnah and laid wreaths at his mazar and offered fateha to begin celebrations of the Pakist
Published 24 Mar, 2004 12:00am
Pakistan Day celebrated with enthusiasm

Pakistan Day celebrated with enthusiasm

The nation has celebrated Pakistan Day on Tuesday with a renewed pledge to make the country a strong, progressive and prosperous Islamic state.
Published 24 Mar, 2004 12:00am
11 Iraqi policemen killed in firing

11 Iraqi policemen killed in firing

Insurgents shot dead 11 Iraqi police and police trainees in two separate, daylight attacks on Tuesday, the latest deadly strikes against Iraqis working with the US-led occupation.
Published 24 Mar, 2004 12:00am
11 Iraqi policemen killed in firing

11 Iraqi policemen killed in firing

Insurgents shot dead 11 Iraqi police and police trainees in two separate, daylight attacks on Tuesday, the latest deadly strikes against Iraqis working with the US-led occupation.
Published 24 Mar, 2004 12:00am
Six killed in occupied Kashmir

Six killed in occupied Kashmir

Five suspected freedom fighters and an occupation soldier were killed in a fierce all-night gunfight in a dense jungle area of occupied Kashmir, a police spokesman said on Tuesday.
Published 24 Mar, 2004 12:00am
Six killed in occupied Kashmir

Six killed in occupied Kashmir

Five suspected freedom fighters and an occupation soldier were killed in a fierce all-night gunfight in a dense jungle area of occupied Kashmir, a police spokesman said on Tuesday.
Published 24 Mar, 2004 12:00am
Uzbekistan seeks return of its citizens captured in Wana

Uzbekistan seeks return of its citizens captured in Wana

Uzbekistan has asked Pakistan to extradite a number of suspected al Qaeda fighters of Uzbek origin who have been captured during the recent fighting in north-western Pakistan, Uzbek President Islam Karimov said on Tuesday.
Published 24 Mar, 2004 12:00am
Uzbekistan seeks return of its citizens captured in Wana

Uzbekistan seeks return of its citizens captured in Wana

Uzbekistan has asked Pakistan to extradite a number of suspected al Qaeda fighters of Uzbek origin who have been captured during the recent fighting in north-western Pakistan, Uzbek President Islam Karimov said on Tuesday.
Published 24 Mar, 2004 12:00am
PSAF to spearhead closed-end mutual funds

PSAF to spearhead closed-end mutual funds

The Karachi Stock Exchange (KSE) would see the largest listing of closed-end unit trust scheme as Pakistan Strategic Allocation Fund (PSAF) is planning to raise Rs 3 billion through banks and general public by May.
Published 24 Mar, 2004 12:00am
PSAF to spearhead closed-end mutual funds

PSAF to spearhead closed-end mutual funds

The Karachi Stock Exchange (KSE) would see the largest listing of closed-end unit trust scheme as Pakistan Strategic Allocation Fund (PSAF) is planning to raise Rs 3 billion through banks and general public by May.
Published 24 Mar, 2004 12:00am
PSAF to spearhead closed-end mutual funds

PSAF to spearhead closed-end mutual funds

The Karachi Stock Exchange (KSE) would see the largest listing of closed-end unit trust scheme as Pakistan Strategic Allocation Fund (PSAF) is planning to raise Rs 3 billion through banks and general public by May.
Published 24 Mar, 2004 12:00am
Ansari group to press India on human rights violations

Ansari group to press India on human rights violations

All Parties Hurriyat Conference (Ansari group), set to resume peace talks with India, said on Tuesday it will again press New Delhi to stop human rights violations in occupied Kashmir.
Published 24 Mar, 2004 12:00am
Pak-Russia Business Council polls set aside

Pak-Russia Business Council polls set aside

The elections of the directors of Pakistan-Russia Business Council of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) have been set aside by FPCCI President Riaz Ahmed Tata.
Published 24 Mar, 2004 12:00am
Afghanistan starts buying Pakistani poultry

Afghanistan starts buying Pakistani poultry

Afghanistan has agreed to import poultry from Pakistan quashing the ban imposed after the bird flu rumours, Pakistan Poultry Association (PPA) Secretary General Chaudhry Majeed said here on Tuesday.
Published 24 Mar, 2004 12:00am
Afghanistan starts buying Pakistani poultry

Afghanistan starts buying Pakistani poultry

Afghanistan has agreed to import poultry from Pakistan quashing the ban imposed after the bird flu rumours, Pakistan Poultry Association (PPA) Secretary General Chaudhry Majeed said here on Tuesday.
Published 24 Mar, 2004 12:00am
US envoy tries to reassure India on Pakistan status

US envoy tries to reassure India on Pakistan status

The US ambassador tried on Tuesday to reassure India after Washington designated its rival Pakistan as a major military ally, saying the partnership with Islamabad focused on the war on terrorism.
Published 24 Mar, 2004 12:00am
US envoy tries to reassure India on Pakistan status

US envoy tries to reassure India on Pakistan status

The US ambassador tried on Tuesday to reassure India after Washington designated its rival Pakistan as a major military ally, saying the partnership with Islamabad focused on the war on terrorism.
Published 24 Mar, 2004 12:00am
Japan welcomes US Aegis missile deployment

Japan welcomes US Aegis missile deployment

The Japanese government on Tuesday welcomed a US plan to deploy a destroyer equipped with the high-tech Aegis air defence system off its coast facing North Korea later this year.
Published 24 Mar, 2004 12:00am
India to test its longest-range Agni-III

India to test its longest-range Agni-III

India will test its longest-range ballistic missile, Agni-III, sometime this year, the country's chief military scientist said here Tuesday.
Published 24 Mar, 2004 12:00am
Euro strength poses risk to recovery: UNICE

Euro strength poses risk to recovery: UNICE

The euro's appreciation on the foreign exchanges poses the most immediate risk to economic recovery in the dozen countries that share the currency, an influential survey showed on Tuesday.
Published 24 Mar, 2004 12:00am
Kay fears US credibility erosion

Kay fears US credibility erosion

The former chief US weapons inspector in Iraq warned on Monday that the United States is in "grave danger" of destroying its credibility at home and abroad if it does not own up to its mistakes in Iraq.
Published 24 Mar, 2004 12:00am
Qatar and Sasol-Chevron ink GTL deal

Qatar and Sasol-Chevron ink GTL deal

Qatar signed Tuesday a six-billion-dollar memorandum of understanding with South African-US partnership Sasol-Chevron for three gas-to-liquid (GTL) projects, Energy Minister Abdullah al-Attiyah announced.
Published 24 Mar, 2004 12:00am
Plea to charge tax on import value rejected

Plea to charge tax on import value rejected

The Central Board of Revenue (CBR) has turned down a photographic products importers' plea to charge income tax on the basis of import value, excluding sales tax, as it would burden the industry with double tax.
Published 24 Mar, 2004 12:00am
Plea to charge tax on import value rejected

Plea to charge tax on import value rejected

The Central Board of Revenue (CBR) has turned down a photographic products importers' plea to charge income tax on the basis of import value, excluding sales tax, as it would burden the industry with double tax.
Published 24 Mar, 2004 12:00am
Optimistic picture of economy portrayed: situation as of March 2004

Optimistic picture of economy portrayed: situation as of March 2004

The Finance Ministry has said that the current fiscal year is witnessing unprecedented increase in credit to private sector, accelerating growth in non-food non-oil imports, extraordinary growth in industrial production, robust growth in agriculture, high
Published 24 Mar, 2004 12:00am
Optimistic picture of economy portrayed: situation as of March 2004

Optimistic picture of economy portrayed: situation as of March 2004

The Finance Ministry has said that the current fiscal year is witnessing unprecedented increase in credit to private sector, accelerating growth in non-food non-oil imports, extraordinary growth in industrial production, robust growth in agriculture, high
Published 24 Mar, 2004 12:00am
Optimistic picture of economy portrayed: situation as of March 2004

Optimistic picture of economy portrayed: situation as of March 2004

The Finance Ministry has said that the current fiscal year is witnessing unprecedented increase in credit to private sector, accelerating growth in non-food non-oil imports, extraordinary growth in industrial production, robust growth in agriculture, high
Published 24 Mar, 2004 12:00am
Ijaz and Ghauri join Federal Cabinet

Ijaz and Ghauri join Federal Cabinet

Two new ministers have been inducted in the Federal Cabinet. They are MNA Ijaz-ul-Haq and Senator Babar Khan Ghauri.
Published 24 Mar, 2004 12:00am
Ijaz and Ghauri join Federal Cabinet

Ijaz and Ghauri join Federal Cabinet

Two new ministers have been inducted in the Federal Cabinet. They are MNA Ijaz-ul-Haq and Senator Babar Khan Ghauri.
Published 24 Mar, 2004 12:00am
Leasing companies may be asked to provide farm credit: Ishrat

Leasing companies may be asked to provide farm credit: Ishrat

Dr Ishrat Husain, Governor State Bank of Pakistan, has said that if banks do not operate agriculture credit in accordance with the instructions of the SBP, leasing companies would be asked to come forward and take up the task.
Published 24 Mar, 2004 12:00am
Leasing companies may be asked to provide farm credit: Ishrat

Leasing companies may be asked to provide farm credit: Ishrat

Dr Ishrat Husain, Governor State Bank of Pakistan, has said that if banks do not operate agriculture credit in accordance with the instructions of the SBP, leasing companies would be asked to come forward and take up the task.
Published 24 Mar, 2004 12:00am
Leasing companies may be asked to provide farm credit: Ishrat

Leasing companies may be asked to provide farm credit: Ishrat

Dr Ishrat Husain, Governor State Bank of Pakistan, has said that if banks do not operate agriculture credit in accordance with the instructions of the SBP, leasing companies would be asked to come forward and take up the task.
Published 24 Mar, 2004 12:00am
Urea price goes up by Rs 5 per bag

Urea price goes up by Rs 5 per bag

Urea price has gone up by Rs 5 a bag, which would take the dealers' delivery price from Rs 428 to Rs 433 for Rabi crops. However, for the end users the prices may range between Rs 445 and Rs 450 a bag.
Published 24 Mar, 2004 12:00am
Urea price goes up by Rs 5 per bag

Urea price goes up by Rs 5 per bag

Urea price has gone up by Rs 5 a bag, which would take the dealers' delivery price from Rs 428 to Rs 433 for Rabi crops. However, for the end users the prices may range between Rs 445 and Rs 450 a bag.
Published 24 Mar, 2004 12:00am
Bhasha dam feasibility report may be delayed

Bhasha dam feasibility report may be delayed

Feasibility report of Bhasha dam, which is due to be submitted to the Federal government in July this year, may be delayed till September, and consequently this would further delay the much-needed construction of either Bhasha or Kalabagh dam.
Published 24 Mar, 2004 12:00am
Bhasha dam feasibility report may be delayed

Bhasha dam feasibility report may be delayed

Feasibility report of Bhasha dam, which is due to be submitted to the Federal government in July this year, may be delayed till September, and consequently this would further delay the much-needed construction of either Bhasha or Kalabagh dam.
Published 24 Mar, 2004 12:00am
Money markets remain closed

Money markets remain closed

No exchange rate bulletin was issued on Tuesday as all the commercial centres remained closed on account of the Pakistan Day.
Published 24 Mar, 2004 12:00am
Money markets remain closed

Money markets remain closed

No exchange rate bulletin was issued on Tuesday as all the commercial centres remained closed on account of the Pakistan Day.
Published 24 Mar, 2004 12:00am
Tribesmen warn of rebellion

Tribesmen warn of rebellion

Tribesmen on Tuesday threatened a tribal rebellion against troops engaged in the country's biggest and bloodiest assault on al Qaeda suspects and their tribal allies.
Published 24 Mar, 2004 12:00am
Tribesmen warn of rebellion

Tribesmen warn of rebellion

Tribesmen on Tuesday threatened a tribal rebellion against troops engaged in the country's biggest and bloodiest assault on al Qaeda suspects and their tribal allies.
Published 24 Mar, 2004 12:00am
Wana operation: three more troops killed as resistance spreads

Wana operation: three more troops killed as resistance spreads

At least 15 more soldiers were killed by al Qaeda-linked fighters in Pakistan's wild north-western tribal area, security officials said on Tuesday, as resistance to a massive operation against militants appeared to spread.
Published 24 Mar, 2004 12:00am
Wana operation: three more troops killed as resistance spreads

Wana operation: three more troops killed as resistance spreads

At least 15 more soldiers were killed by al Qaeda-linked fighters in Pakistan's wild north-western tribal area, security officials said on Tuesday, as resistance to a massive operation against militants appeared to spread.
Published 24 Mar, 2004 12:00am
Punjab chief minister fetes cricket teams

Punjab chief minister fetes cricket teams

Punjab Chief Minister Chaudhry Pervaiz Elahi gave a dinner in honour of Pakistani and Indian cricket teams at Lahore Fort on Tuesday.
Published 24 Mar, 2004 12:00am
Sherpao directs to expedite Gomal dam work

Sherpao directs to expedite Gomal dam work

Minister for Water and Power, Kana and Safron, Aftab Ahmed Khan Sherpao on Tuesday said the government would provide every possible help for the resolution of problems hindering the development of Gomal-Zam dam.
Published 24 Mar, 2004 12:00am
Early action might not have stopped 9/11: Powell

Early action might not have stopped 9/11: Powell

Even if the United States had gone after al Qaeda before the September 11, 2001, attacks it might not have prevented them from taking place, Secretary of State Colin Powell told investigators on Tuesday.
Published 24 Mar, 2004 12:00am
China wants increased military ties with Pakistan

China wants increased military ties with Pakistan

Defence Minister of China, General Cao Gangchuan on Tuesday said China wants to further enhance and strengthen its relations with Pakistan in all areas concerning the three services.
Published 24 Mar, 2004 12:00am
China wants increased military ties with Pakistan

China wants increased military ties with Pakistan

Defence Minister of China, General Cao Gangchuan on Tuesday said China wants to further enhance and strengthen its relations with Pakistan in all areas concerning the three services.
Published 24 Mar, 2004 12:00am
137 civil and military awardees decorated

137 civil and military awardees decorated

President Pervez Musharraf decorated 108 civil and 29 military awards recipients at an impressive ceremony at the Aiwan-e-Sadr here on Tuesday.
Published 24 Mar, 2004 12:00am
137 civil and military awardees decorated

137 civil and military awardees decorated

President Pervez Musharraf decorated 108 civil and 29 military awards recipients at an impressive ceremony at the Aiwan-e-Sadr here on Tuesday.
Published 24 Mar, 2004 12:00am
The Weather

The Weather

The weather report on Tuesday (March 23) and the forecast of Wednesday (March 24, 2004).
Published 24 Mar, 2004 12:00am
New York cotton

New York cotton

Closing prices of New York cotton in US cents/pound on Monday.
Published 24 Mar, 2004 12:00am
New York cotton

New York cotton

Closing prices of New York cotton in US cents/pound on Monday.
Published 24 Mar, 2004 12:00am
Chemicals: CLARIANT PAKISTAN LIMITED - Year Ended 31-12-2003

Chemicals: CLARIANT PAKISTAN LIMITED - Year Ended 31-12-2003

This subsidiary of Swiss multinational company has scaled new heights in performance in its field speciality chemicals products. It achieved 12% growth in gross sales which is the record highest figure of Rs 4.34 billion as compared to last year at Rs 3.8
Published 24 Mar, 2004 12:00am
Rust disease risk seen for Brazil 2005-06 coffee

Rust disease risk seen for Brazil 2005-06 coffee

Prolonged wet weather combined with below average temperatures fostered the growth of coffee rust fungus that could reduce 2005/06 (July/June) tree yields by about 50 percent, agronomists said.
Published 24 Mar, 2004 12:00am
CSCE coffee futures overcome some profit-taking

CSCE coffee futures overcome some profit-taking

CSCE coffee futures overcame some profit-taking to close higher on Monday, as fund and local buying found spotty producer selling and as sharp rises in other commodities lifted farmers' expectations, brokers said.
Published 24 Mar, 2004 12:00am
Nymex crude boosted by hopes

Nymex crude boosted by hopes

US unleaded gasoline futures rose in electronic trade on Tuesday on expectations of record demand this year, and helped to pull up the entire energy complex, brokers said.
Published 24 Mar, 2004 12:00am
Argentina soya yields, output down

Argentina soya yields, output down

Argentine soybean yields are running 25 percent lower than a year ago, with harvest complete on 4.3 percent of 14.4 million hectares sown to the 2003/04 crop, the Buenos Aires Grain Exchange said on Monday.
Published 24 Mar, 2004 12:00am
Cocoa touches three-week high on fund short-covering

Cocoa touches three-week high on fund short-covering

CSCE cocoa futures rallied to close at a three-week peak on Monday as commodity funds and short-term speculators bought futures to cut losses on short positions, analysts said.
Published 24 Mar, 2004 12:00am
Canada to plant more canola

Canada to plant more canola

Canadian farmers are likely to plant more canola this spring at the expense of barley, oats and wheat, the US Agriculture Department said on Monday.
Published 24 Mar, 2004 12:00am
Japanese consumers tell Canada to stop GM wheat

Japanese consumers tell Canada to stop GM wheat

Japan will stop buying Canadian wheat if Canada approves a variety of genetically modified wheat, a delegation of Japanese consumer groups warned on Monday.
Published 24 Mar, 2004 12:00am
Shanghai copper sharply down

Shanghai copper sharply down

Shanghai copper closed down sharply on Tuesday after the London Metal Exchange lost ground due to geopolitical uncertainty following the killing of the leader of the Palestinian group Hamas, traders said.
Published 24 Mar, 2004 12:00am
Malaysian tin futures up

Malaysian tin futures up

Malaysian tin rose $40 on Tuesday, smashing the psychological resistance of $8,000 a tonne, as Japanese buyers kept up with their voracious appetite for the metal despite rocketing prices.
Published 24 Mar, 2004 12:00am
Comex copper slides on profit-taking

Comex copper slides on profit-taking

COMEX copper fell sharply late in Monday's session, when a mild bout of profit-taking gave way to heavy selling as funds and speculators took their cue from tumbling equity markets and unloaded copper positions.
Published 24 Mar, 2004 12:00am
Gold posts gains in New York

Gold posts gains in New York

COMEX gold rose to its highest in more than a month on Monday morning as investors jumped into safe havens after Israel killed the founder of Hamas and Palestinians vowed revenge.
Published 24 Mar, 2004 12:00am
Gold rests in Asia, market aims for $420 an ounce

Gold rests in Asia, market aims for $420 an ounce

Spot gold held steady in Asia on Tuesday as the market digested gains in New York before making fresh attempts to breach the key $420 an ounce resistance amid rising global tension, dealers said.
Published 24 Mar, 2004 12:00am
Tokyo rubber up on light short-covering

Tokyo rubber up on light short-covering

Tokyo rubber futures inched up on Tuesday, extending gains to a second straight day on light short-covering and position squaring ahead of this week's expiry of the prompt futures contract.
Published 24 Mar, 2004 12:00am
Oil futures up but nervous, await Opec and US data

Oil futures up but nervous, await Opec and US data

London's Brent crude led gains on oil futures markets in electronic trade on Tuesday and brokers said technical indicators pointed to a move higher with the long-term up-trend intact despite recent losses.
Published 24 Mar, 2004 12:00am
CBOT rice ends mixed; speculative sell stops hit

CBOT rice ends mixed; speculative sell stops hit

Chicago Board of Trade rough rice futures ended mixed on Monday after speculative sell stops were triggered in May and on lingering uncertainty about the results of an Iraqi rice tender, brokers said.
Published 24 Mar, 2004 12:00am
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