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Print - 2004-05-17
Tehran tacitly approves call for 1.5 mbpd Opec hike

Tehran tacitly approves call for 1.5 mbpd Opec hike

Key Opec producer Iran gave guarded support on Sunday to a Saudi call to raise Opec supplies by 1.5 million barrels daily to appease consumers, but said the hike would only legitimise leakage over official cartel limits.
Published 17 May, 2004 12:00am
Indian economic reform drive to continue under Congress

Indian economic reform drive to continue under Congress

India's economic liberalisation is unstoppable, according to analysts, dismissing fears that reforms might be stalled by an incoming communist-backed Congress government led by Sonia Gandhi.
Published 17 May, 2004 12:00am
S&P sees oil, China risks in Japan and South Korea

S&P sees oil, China risks in Japan and South Korea

The triple threat of a slowing Chinese economy, higher US interest rates and a surge in oil prices posed risks for Japan and South Korea, rating agency Standard & Poor's said on Sunday.
Published 17 May, 2004 12:00am
Berlin vows no budget cuts, deficit seen at 3.3 percent

Berlin vows no budget cuts, deficit seen at 3.3 percent

The German government repeated on Sunday it would refrain from new spending cuts as a magazine reported that Berlin now sees its 2005 deficit at 3.3 percent of GDP, exceeding EU limits for the fourth year in a row.
Published 17 May, 2004 12:00am
Italy urges Asia to adopt more flexible forex rates

Italy urges Asia to adopt more flexible forex rates

Asian governments should seize on a favourable economic outlook for the region to allow their exchange rates to move more freely, a senior Bank of Italy official said on Sunday.
Published 17 May, 2004 12:00am
ADB urges end to Chinese downturn 'hysteria'

ADB urges end to Chinese downturn 'hysteria'

Asia has less to fear from a crash in China's racing economy than many think, the Asian Development Bank's chief economist said on Sunday, urging experts and officials to refrain from hysteria.
Published 17 May, 2004 12:00am
French nuclear reactor shut down

French nuclear reactor shut down

Authorities shut down a reactor at one of France's largest nuclear power plants on Sunday following a fire in a non-nuclear portion of the plant, officials said.
Published 17 May, 2004 12:00am
Talks stall with Libya over Berlin bombing deal

Talks stall with Libya over Berlin bombing deal

Talks aimed at reaching a compensation deal over a 1986 Berlin night-club bombing and aiding Libya's return to the diplomatic fold stalled Sunday but will resume next month, a lawyer for victims said.
Published 17 May, 2004 12:00am
Kerry pulls ahead of Bush in new poll

Kerry pulls ahead of Bush in new poll

Democratic presidential candidate John Kerry topped President George W. Bush in a new opinion poll released Sunday, one day after a separate survey showed a majority of Americans for the first time disapprove of Bush's leadership.
Published 17 May, 2004 12:00am
US troops to stay in Iraq until they finish job: Rice

US troops to stay in Iraq until they finish job: Rice

US troops will remain in Iraq until they "finish the job" they were sent to do there, visiting US national security advisor Condoleezza Rice said in an interview with a German daily.
Published 17 May, 2004 12:00am
Israeli helicopters fire rockets at Gaza targets

Israeli helicopters fire rockets at Gaza targets

Israeli helicopter gun-ships fired rockets at multiple targets in Gaza City early Sunday, including a building used by Yasser Arafat's Fatah movement, Palestinian security sources and witnesses said.
Published 17 May, 2004 12:00am
Spanish forces hand over control to US troops in Iraq

Spanish forces hand over control to US troops in Iraq

Spanish forces in Iraq, due to withdraw from the country before the end of the month, on Sunday transferred operations at their base in the southern Iraqi city of Diwaniyah to US forces, the Spanish defence ministry said.
Published 17 May, 2004 12:00am
EU seeks closer ties with Syria despite US sanctions

EU seeks closer ties with Syria despite US sanctions

The European Union plans to pursue an association agreement with Syria despite fresh US sanctions imposed last week over its alleged support for terrorism, a European energy official said Sunday.
Published 17 May, 2004 12:00am
China warns Taiwan ahead of Chen's inauguration

China warns Taiwan ahead of Chen's inauguration

Days before Taiwanese President Chen Shui-bian starts his second term, China slammed his independence leanings and warned that it would crush any steps in that direction "firmly and thoroughly at any cost".
Published 17 May, 2004 12:00am
Kuwait approves draft law allowing women to vote

Kuwait approves draft law allowing women to vote

Kuwait's cabinet approved a draft law on Sunday allowing women to vote and run in parliamentary polls, moving them a step closer to full political rights they have sought for decades in the conservative Gulf Arab state.
Published 17 May, 2004 12:00am
Bomb blasts hit three temples in Thailand

Bomb blasts hit three temples in Thailand

Bomb blasts rocked three Buddhist temples in Thailand's restive Muslim-dominated south within an hour late Sunday, damaging the buildings but causing no injuries, police said.
Published 17 May, 2004 12:00am
Sonia's win gives twist to Sri Lanka peace bid

Sonia's win gives twist to Sri Lanka peace bid

The Gandhi dynasty's return to power in India could complicate Sri Lanka's peace process, with fears that New Delhi may press for extradition of the Tamil rebel leader accused in the killing of former premier Rajiv Gandhi.
Published 17 May, 2004 12:00am
Development of ICT in Pakistan

Development of ICT in Pakistan

For long the planners failed to recognise the importance of telecommunication in the economic development. It was assigned a very low priority in the development program. It was only in 1984 at the Kanshasha ITU plenipotentiary that significance of Teleco
Published 17 May, 2004 12:00am
Message from Secretary General United Nations

Message from Secretary General United Nations

It was 160 years ago next week that Samuel Morse used a simple series of dots and dashes to send the first message by telegraph - ushering in the dawn of the telecommunications age. Within a decade, telegraphy had become a routine public service.
Published 17 May, 2004 12:00am
Message from Minister for IT and Telecommunications

Message from Minister for IT and Telecommunications

It is my privilege to congratulate fellow countrymen on the 139th World Telecommunication day, this is a historic day as we are in a process of opening up and deregulating Telecom sector in Pakistan.
Published 17 May, 2004 12:00am
Message from Prime Minister of Pakistan

Message from Prime Minister of Pakistan

I extend my warm greetings to the Ministry of Information Technology on the occasion of the ITU World Telecommunication day.
Published 17 May, 2004 12:00am
Message from President of Pakistan

Message from President of Pakistan

I wish to congratulate the Ministry for Information Technology on the occasion of ITU World Telecommunication day. The importance of ICTs in the modern times cannot be over emphasised.
Published 17 May, 2004 12:00am
SBP's instruction

SBP's instruction

Please refer to BPD Circular No 23 dated July 04, 2003 on the above subject.
Published 17 May, 2004 12:00am
Savings account and service charges

Savings account and service charges

Small savings continue its vital role in developing the economy of the country but such account holders are being discouraged by banks imposing service charges after introduction of Islamic banking system. Maybe to balance their dwindled profits?
Published 17 May, 2004 12:00am
NBP's annual report: an analysis

NBP's annual report: an analysis

As per the annual report of the National Bank of Pakistan for the calendar year 2003, its pre-tax profit has increased from Rs 6.045 billion in 2002 to Rs 9.009 billion in 2003 which depicts an increase of about 50 percent.
Published 17 May, 2004 12:00am
NBP's annual report: an analysis

NBP's annual report: an analysis

As per the annual report of the National Bank of Pakistan for the calendar year 2003, its pre-tax profit has increased from Rs 6.045 billion in 2002 to Rs 9.009 billion in 2003 which depicts an increase of about 50 percent.
Published 17 May, 2004 12:00am
Time to review monetary policy

Time to review monetary policy

The demon of inflation seems to be raising its head once again. This critical macro-economic issue had assumed alarming proportions between 1990-91 and 1996-97 when the inflation rate as measured by Consumer Price Index (CPI) ranged between 9.8 percent an
Published 17 May, 2004 12:00am
Troubling breakdown

Troubling breakdown

The relationship between the Bar and the Bench constitutes one of the fundamentals of the judicial system. But the bruising incident of a clash between lawyers and a District and Sessions Judge and the police in Lahore the other day has left a sour taste
Published 17 May, 2004 12:00am
Financing scheme for SMEs

Financing scheme for SMEs

The government has been talking about the vital role of Small and Medium Enterprises (SMEs) in the economic development of the country in the recent past almost continuously.
Published 17 May, 2004 12:00am
Sindh traders demand abolition of roadside check-posts

Sindh traders demand abolition of roadside check-posts

Sindh traders have demanded abolition of 'Naka' (check-posts) established on road sides to collect market committee fee under the contract system rather this fee should be realised within the premises of markets.
Published 17 May, 2004 12:00am
Christian priest missing

Christian priest missing

A Christian priest Wilson Fazal is reported missing since Sunday morning and it is apprehended that he was kidnapped.
Published 17 May, 2004 12:00am
Education department urged to announce summer vacations

Education department urged to announce summer vacations

After having experienced the hottest May with the mercury touching 45 degree celsius in Lahore, the parents of school going children have urged the Education Department to announce summer vacations and close down the educational institutions.
Published 17 May, 2004 12:00am
Kyrgyz assembly speaker calls on Muzaffar

Kyrgyz assembly speaker calls on Muzaffar

Speaker, People's Representative Assembly of Kyrgystan, Borubaev Altai Asylkanovich, along with delegation members, called on Sindh Assembly speaker Muzaffar Hussain Shah at his office here on Sunday.
Published 17 May, 2004 12:00am
Sust Dry Port to be inaugurated by June

Sust Dry Port to be inaugurated by June

Opening of Sust Dry Port will be carried out by the end of June 2004 which would boost trade activities and further strengthen warm Sino-Pak friendship.
Published 17 May, 2004 12:00am
Gang involved in Ashura carnage identified

Gang involved in Ashura carnage identified

Provincial Police Officer Balochistan Dr Mohammad Shoaib Suddle has said that the gang involved in the terrorist attack on the Ashura procession in Quetta on March 2 last has been identified, which also includes a constable of Quetta police Ghulam Haider
Published 17 May, 2004 12:00am
HBL and Prosperity Weaving Mill sign Rs 600 million deal

HBL and Prosperity Weaving Mill sign Rs 600 million deal

The signing ceremony to commemorate Habib Bank Limited lead bank status for Prosperity Weaving Mills Limited - Nagina Group - vide offering Rs 600 million long-term finance facilities to the company for project expansion was held on Wednesday at the Habib
Published 17 May, 2004 12:00am
HBL and Prosperity Weaving Mill sign Rs 600 million deal

HBL and Prosperity Weaving Mill sign Rs 600 million deal

The signing ceremony to commemorate Habib Bank Limited lead bank status for Prosperity Weaving Mills Limited - Nagina Group - vide offering Rs 600 million long-term finance facilities to the company for project expansion was held on Wednesday at the Habib
Published 17 May, 2004 12:00am
Hafeez terms PTI conference successful

Hafeez terms PTI conference successful

Minister for Privatisation and Investment Dr Hafeez Sheikh has termed the Pakistan Trade & Investment Conference (PTIC) a successful.
Published 17 May, 2004 12:00am
Jatoi to represent Pakistan at OECD moot on SMEs

Jatoi to represent Pakistan at OECD moot on SMEs

Federal Minister for Industries and Production, Liaquat Ali Jatoi will, represent Pakistan at the second ministerial conference being arranged by Organisation for Economic Co-operation and Development (OECD) at Turkish port city of Istanbul from June 3-5.
Published 17 May, 2004 12:00am
'Strengthening of PML leads to consolidating democracy'

'Strengthening of PML leads to consolidating democracy'

Punjab Chief Minister Chaudhry Pervaiz Elahi has said that joining of Pakistan Muslim League by the members assemblies, Nazims and office-bearers of other parties has resulted in strengthening of democracy and the political system.
Published 17 May, 2004 12:00am
Councillor kills wife and niece

Councillor kills wife and niece

A councillor killed his wife and her niece over family dispute at Mohallah Ghafoorabad here on Sunday.
Published 17 May, 2004 12:00am
Pakistan to be elected WHO president: minister

Pakistan to be elected WHO president: minister

Federal Minister for Health Nasir Khan along with high-level delegation has left for Geneva to attend the 57th World Assembly of the World Health Organisation (WHO).
Published 17 May, 2004 12:00am
Imran calls fair Indian polls an eye-opener for rulers

Imran calls fair Indian polls an eye-opener for rulers

The free and fair electoral process in India is an eye-opener and a matter of shame for our despotic rulers who have violated and mutilated laws to perpetuate their rule denying the people to choose their leadership through fair and free elections.
Published 17 May, 2004 12:00am
QWS chief's services lauded

QWS chief's services lauded

The president of Council of Ministers, Republic of Lebanon, Dr Rafiq Harriri, has sent a letter of appreciation for his services to humanity to Qazi Welfare Society (QWS) President Kazi Moin Uddin Ahmed.
Published 17 May, 2004 12:00am
FAO regional moot: Sikandar leaves for China on May 17

FAO regional moot: Sikandar leaves for China on May 17

Sikandar Hayat Bosan, Minister of State for Food, Agriculture and Livestock will pay a weeklong visit to China from Monday to attend the 27th FAO Regional Conference for Asia and Pacific.
Published 17 May, 2004 12:00am
'Pak-India ties to be further improved'

'Pak-India ties to be further improved'

The Foreign Minister Khurshid Mahmood Kasuri has expressed the hope that relations between Pakistan and India will further be improved as people of both the countries want peace in the region.
Published 17 May, 2004 12:00am
Telecom and IT Asia 2004 from July 8

Telecom and IT Asia 2004 from July 8

A two-day mega event in telecommunication and IT sectors, 'Telecom & IT Asia 2004' will be held in the provincial capital from July 8 to 9.
Published 17 May, 2004 12:00am
Trilateral meeting discusses ways to improve Pak-Afghan trade links

Trilateral meeting discusses ways to improve Pak-Afghan trade links

Finance Ministers of Pakistan and Afghanistan and Deputy Secretary of US Department of Treasury held a trilateral meeting to review the economic developments in the region and discussed a number of initiatives to foster close economic links between Pakist
Published 17 May, 2004 12:00am
Commodity markets lose pace owing to violence

Commodity markets lose pace owing to violence

Commodity wholesale markets lost pace whatever it had in recent weeks owing to sporadic bloody violence in the city prior to and during the week ended on May 15, 2004.
Published 17 May, 2004 12:00am
PML-N MPA joins PML-Q

PML-N MPA joins PML-Q

The PML-N senior leader, MPA Ahid Malik, joined the PML headed by Chaudhry Shujaat Hussain at Lahore on Sunday.
Published 17 May, 2004 12:00am
Another MMA activist succumbs to injuries

Another MMA activist succumbs to injuries

Another activist of Muttahida Majlis-i-Amal (MMA) expired here on Sunday after being kept four consecutive days in intensive care unit of a local hospital, which raised the toll to 12 persons who killed in by-elections violence on May 12.
Published 17 May, 2004 12:00am
Investment conference at Gwadar demanded

Investment conference at Gwadar demanded

After the grand success of an International Conference on Investment Opportunities in Balochistan (ICIB - 2004) held in Quetta on May 8, the provincial authorities said a similar conference be commenced in Gwadar.
Published 17 May, 2004 12:00am
Wapda to give additional grant of Rs 330 million to Lesco

Wapda to give additional grant of Rs 330 million to Lesco

Punjab Governor Lieutenant General Khalid Maqbool (Retd) has said that the Wapda, in order to provide better facility of electricity in the city, would give an additional grant of Rs 330 million to the Lesco.
Published 17 May, 2004 12:00am
'Nations must learn to respect and spread goodwill'

'Nations must learn to respect and spread goodwill'

"Humanity has come of age and the majority of people want the nations of the world to live in peace and harmony. Many are those who deeply desire to trust their fellowmen and live their lives without fear," it was stated by Chairman National Commission fo
Published 17 May, 2004 12:00am
CBR examining budget proposals of PCOs' operators

CBR examining budget proposals of PCOs' operators

The Central Board of Revenue (CBR) is examining budget proposals of operators of Public Call Offices (PCOs) pertaining to levy of withholding tax on the sale of prepaid calling cards.
Published 17 May, 2004 12:00am
Reinstatement of customs official confirmed

Reinstatement of customs official confirmed

Collector Customs Mohammad Raza Baqir has confirmed the provisional reinstatement of Deputy Superintendent Mahmood Khan Khattak in light of the report of inquiry officer in which the charges levelled against him have not been established.
Published 17 May, 2004 12:00am
INTERNATIONAL TENDERS

INTERNATIONAL TENDERS

Export Promotion Bureau has received the following International Tenders from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details of Tenders from the addresses given or from EPB Head Quarters and its Region
Published 17 May, 2004 12:00am
Hike in cotton prices scares buyers

Hike in cotton prices scares buyers

While the buyers waited for the fortnightly seed cotton arrival report, price jump kept them away from lifting during the week ended on May 16, 2004. Once raised spot rate was quoted at Rs 3000.
Published 17 May, 2004 12:00am
Mutton price hike continues

Mutton price hike continues

The mutton sale at the price of Rs 200 to 220 per kg continues unabatedly in the city, mockering vociferous claims of City District Government (CDG) to obligate butchers to sell the mutton at its stipulated price Rs 150 per kg.
Published 17 May, 2004 12:00am
EIBL posts Rs 66 million pre-tax profit in 9 months

EIBL posts Rs 66 million pre-tax profit in 9 months

Escorts Investment Bank Limited (EIBL) has reaped a pre-tax profit of Rs 66 million during the nine months of the current fiscal year against Rs 62 million during the corresponding period of last year.
Published 17 May, 2004 12:00am
EIBL posts Rs 66 million pre-tax profit in 9 months

EIBL posts Rs 66 million pre-tax profit in 9 months

Escorts Investment Bank Limited (EIBL) has reaped a pre-tax profit of Rs 66 million during the nine months of the current fiscal year against Rs 62 million during the corresponding period of last year.
Published 17 May, 2004 12:00am
MMA demands removal of MQM from government

MMA demands removal of MQM from government

Syed Munawar Hassan, General Secretary Jamaat-i-Islami Pakistan and central leader of Muttahida Majlis-i-Amal (MMA) has accused Muttahida Qaumi Movement of being a terrorist and Bhatta Khor (extortionist) organisation and has demanded its removal from the
Published 17 May, 2004 12:00am
Move to convert power plants on gas system hailed

Move to convert power plants on gas system hailed

President Sialkot Chamber of Commerce and Industry (SCCI) Tahir Majid Kapur has appreciated the decision of the government for converting power plants on gas system.
Published 17 May, 2004 12:00am
Cameroon trade team extends stay

Cameroon trade team extends stay

A trade delegation from Cameroon currently visiting Pakistan has extended its stay for another one week for signing more Memorandum of Understanding with Pakistan counterparts for import of fabrics.
Published 17 May, 2004 12:00am
Minimum wage at Rs 6,000 demanded

Minimum wage at Rs 6,000 demanded

The Pakistan Workers Confederation (PWC) has urged the government to raise the wages of the workers commensurate with high cost of living alike members of National Assembly and Federal Ministers in the next Federal Budget.
Published 17 May, 2004 12:00am
Heat wave kills four

Heat wave kills four

Scorching heat and high temperature in Sahiwal claimed lives of four persons during past twenty four hours.
Published 17 May, 2004 12:00am
Government urged to check smuggling, under-invoicing

Government urged to check smuggling, under-invoicing

President Lahore Chamber of Commerce and Industry (LCCI), Mian Anjum Nisar has said that government should take immediate measures to check the twin menace of smuggling and under-invoicing to save the domestic industry from problems.
Published 17 May, 2004 12:00am
Plan to fight against tannery pollution launched

Plan to fight against tannery pollution launched

A multi-dimensional programme has been initiated aimed at fighting against threats of pollution caused by the establishment of ill-planned tanneries in and around Sialkot.
Published 17 May, 2004 12:00am
Six killed and 15 hurt in bus-trolley collision

Six killed and 15 hurt in bus-trolley collision

As many as six passengers were killed and 15 injured seriously when Sialkot-Shakargarh-Narowal bound overloaded and over-speeding passenger bus fell into the road side ravine after colliding with an overloaded trolley near Kakey Key More on Shakargarh - N
Published 17 May, 2004 12:00am
Rs 300 million being spent on government servants' houses

Rs 300 million being spent on government servants' houses

Provincial Minister for Communications and Works Chaudhry Zaheeruddin has said that the government is spending Rs 300 million on the construction and repair of residential houses of government employees during the current fiscal year.
Published 17 May, 2004 12:00am
Pakistan efforts to streamline export control regime lauded

Pakistan efforts to streamline export control regime lauded

US Under-secretary of Commerce Kenneth I. Juster on Sunday lauded Pakistan's efforts to streamline and strengthen its export control regime, and welcomed approval of the new export control legislation by the Cabinet.
Published 17 May, 2004 12:00am
Majlis-i-Amal workers forced to leave Lines Area

Majlis-i-Amal workers forced to leave Lines Area

An attempt by some workers of Muttahida Majlis-i-Amal (MMA) on Saturday night to create a law and order situation in Lines Area was foiled by the residents of the locality.
Published 17 May, 2004 12:00am
'Pakistan non-Nato US ally against Muslim world'

'Pakistan non-Nato US ally against Muslim world'

The Amir of Jamaat-i-Islami, Qazi Hussain Ahmed, on Sunday said here that the United States has given Pakistan the status of non-Nato ally to use it against the Muslim world.
Published 17 May, 2004 12:00am
PPPP to boycott parliamentary water body meeting

PPPP to boycott parliamentary water body meeting

Leader of the opposition in Sindh Assembly, Nisar Khoro has termed the parliamentary water committee as illegal and said that PPPP would not be a part of any dialogue on water issue if discussed in the committee.
Published 17 May, 2004 12:00am
Patriots urge Musharraf to stay in uniform

Patriots urge Musharraf to stay in uniform

Pakistan People Party Patriots (PPPP) has urged President General Pervez Musharraf to stay in uniform as the national interests, Geo-Strategic and international situation demand to continue the status quo.
Published 17 May, 2004 12:00am
Qazi escapes unhurt as Kashmir moot stage collapses

Qazi escapes unhurt as Kashmir moot stage collapses

Muttahida Majlis-i-Amal (MMA) Acting President Qazi Hussain Ahmed escaped unhurt when the stage of Integrity Kashmir Conference collapsed here on Sunday. The incident created panic in the conference.
Published 17 May, 2004 12:00am
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