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Apr 27, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-05-12
4th Young Leaders Conference in July

4th Young Leaders Conference in July

The 4th Young Leaders Conference-International, 2005, organised by the School of Leadership (SoL), will be held in Islamabad from July 1-6, 2005 with the theme, "Feel, Focus, Fly." Asma Mustafa, CEO YLC-I, announced this here at a press conference on Wedn
Published 12 May, 2005 12:00am
State Bank reaffirms stance on fighting inflation

State Bank reaffirms stance on fighting inflation

Rise in three-month and one-year treasury bills cut-off rates by 100 basis points is a hint that the State Bank of Pakistan is not only controlling inflation rate but also wants to cap credit expansion. Salman Jafari, from Jahangir Siddiqui Capital Market
Published 12 May, 2005 12:00am
President rejects CBR plea against FTO order

President rejects CBR plea against FTO order

Endorsing a landmark order of Federal Tax Ombudsman (FTO), the President has made it mandatory for the adjudication authorities to decide cases within the given timeframe under Sales Tax Act, 1990. The Ministry of Law and Justice has further supported FTO
Published 12 May, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (May 11, 2005).

Published 12 May, 2005 12:00am
Kishanganga talks draft of minutes signed

Kishanganga talks draft of minutes signed

Indus Basin Commissioners of India and Pakistan on Wednesday signed the draft of minutes of the third round of talks on Kishanganga hydropower project held here from May 8 to 10. Syed Jamat Ali Shah, Indus Basin Commissioner Pakistan told Business Reco
Published 12 May, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (May 11, 2005).

Published 12 May, 2005 12:00am
Shaukat meets Singapore president

Shaukat meets Singapore president

Shaukat Aziz on Wednesday called on President of Singapore, S. R. Nathan and discussed bilateral issues, peace and security in the region. In the around 45 minutes talks, they also discussed economic and trade relations between the two countries. The Prim
Published 12 May, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (May 11, 2005).

Published 12 May, 2005 12:00am
Polish National Day reception held

Polish National Day reception held

Sindh Chief Minister, Dr Arbab Ghulam Rahim on Wednesday lauded the close ties of friendship and understanding that exists between Pakistan and Poland, and hoped that the economic ties between the two countries would expand. He said this while extending g
Published 12 May, 2005 12:00am
Dutch centre explores SMEs export potential

Dutch centre explores SMEs export potential

Small and Medium Enterprise Development Authority (Smeda) and the Export Promotion Bureau (EPB) have joined hands with CBI-The Dutch Center for Promotion of Imports from developing countries, so as to increase Pakistan's share in European Union market. CB
Published 12 May, 2005 12:00am
Majlis-i-Amal launches 'democracy caravan'

Majlis-i-Amal launches 'democracy caravan'

Muttahida Majlis-i-Amal (MMA) on Wednesday launched its 'Democracy Caravan' from Lahore to Sahiwal in the third phase of its mass contact campaign. Addressing the participants of the caravan at Mansoora, MMA Chief Qazi Hussain Ahmed said that the US has c
Published 12 May, 2005 12:00am
EPB scheme to inspire new SMEs with exporters' success stories

EPB scheme to inspire new SMEs with exporters' success stories

The Export Promotion Bureau (EPB) has launched a hand holding scheme to honour successful exporters, and to inspire new incumbents by old exporters' success stories. The scheme is part of trade policy initiative, aiming to inspire and guiding potential bu
Published 12 May, 2005 12:00am
KPC condolence meeting today

KPC condolence meeting today

Karachi Press Club (KPC) is holding a condolence meeting for Safdar Barlas, Maqbool Jalees, and Ahmed Abassi at KPC at 3pm on Thursday. Relatives of the deceased and senior members of KPC will highlight their achievements. All members of KPC have been req
Published 12 May, 2005 12:00am
Siraj pledges to table Hisba Bill in NWFP Assembly

Siraj pledges to table Hisba Bill in NWFP Assembly

The NWFP Senior Minister and provincial Amir of Jamaat-i-Islami |(JI) Siraj-ul-Haq has said that Hisba Act would be tabled in next session of the provincial assembly. He maintained that if nobody differed on providing social justice to the masses and ensu
Published 12 May, 2005 12:00am
Report on forced labour being launched today

Report on forced labour being launched today

The Ministry of Labour and Manpower and the International Labour Organisation (ILO) will launch a comprehensive report on Forced Labour on May 12. The report "A Global Alliance Against Forced Labour" has been prepared as a follow-up of ILO's declaration o
Published 12 May, 2005 12:00am
Parc and CIMMYT to carry out research on wheat, maize

Parc and CIMMYT to carry out research on wheat, maize

Pakistan Agriculture Research Centre (Parc) and International Maize and Wheat Improvement Centre will collaborate in the field of agriculture research and development. Parc Chairman Dr Badaruddin Soomro discussed the matter with Dr Norman Borlaug - the No
Published 12 May, 2005 12:00am
Fecto Belarus not entitled to amnesty under Awami scheme: Supreme Court

Fecto Belarus not entitled to amnesty under Awami scheme: Supreme Court

Fecto Belarus, a tractor assembler and importer firm, has been told by Supreme Court that it is not entitled to nearly Rs 500 million it had paid on import of tractors as it is not entitled to tax amnesty under Awami Tractors Scheme of 1994 and 1996. The
Published 12 May, 2005 12:00am
Non-formal education system for street children proposed

Non-formal education system for street children proposed

The ministry of education has proposed non-formal education system for street children because their number is increasing day-by day in the country. Sources told Business Recorder that 'Education For All' wing has proposed to launch the project wit
Published 12 May, 2005 12:00am
Telenor signs SMS agreement with PTCL

Telenor signs SMS agreement with PTCL

The Telenor Pakistan took another step ahead in providing value-added services to its customers by signing Short Messaging Service (SMS) Interconnect Agreement with the PTCL, the largest fixed line operator. After implementation of this interconnectivity,
Published 12 May, 2005 12:00am
Surprises in store at budget time

Surprises in store at budget time

Within days before or after the 2005-06 budget, things may take a surprise turn, leading to key changes in the ruling Pakistan Muslim League, which may be unexpected for many but not for others. It may be remembered that last year the budget had seen Zafa
Published 12 May, 2005 12:00am
SECP cautions companies to abide by rules

SECP cautions companies to abide by rules

The Securities and Exchange Commission of Pakistan (SECP) has advised all registered companies to abide by the rules and regulations, and refrain from undertaking activities beyond the limits as specified in their Memorandum of Association. Strict legal a
Published 12 May, 2005 12:00am
State Bank reaffirms stance on fighting inflation

State Bank reaffirms stance on fighting inflation

Rise in three-month and one-year treasury bills cut-off rates by 100 basis points is a hint that the State Bank of Pakistan is not only controlling inflation rate but also wants to cap credit expansion. Salman Jafari, from Jahangir Siddiqui Capital Market
Published 12 May, 2005 12:00am
Tax officials involved in private practice to be dismissed

Tax officials involved in private practice to be dismissed

Central Board of Revenue (CBR) Chairman Abdullah Yusuf has expressed concern over tax officers working as private tax practitioners and directed the commissioners of income tax appeals and collectors of customs, sales tax and central excise adjudication t
Published 12 May, 2005 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (May 11, 2005).

Published 12 May, 2005 12:00am
Tax officials involved in private practice to be dismissed

Tax officials involved in private practice to be dismissed

Central Board of Revenue (CBR) Chairman Abdullah Yusuf has expressed concern over tax officers working as private tax practitioners and directed the commissioners of income tax appeals and collectors of customs, sales tax and central excise adjudication t
Published 12 May, 2005 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (May 11, 2005).
Published 12 May, 2005 12:00am
Tax officials involved in private practice to be dismissed

Tax officials involved in private practice to be dismissed

Central Board of Revenue (CBR) Chairman Abdullah Yusuf has expressed concern over tax officers working as private tax practitioners and directed the commissioners of income tax appeals and collectors of customs, sales tax and central excise adjudication t
Published 12 May, 2005 12:00am
Saudi Arabia refuses to lift ban on Pakistani live birds and eggs

Saudi Arabia refuses to lift ban on Pakistani live birds and eggs

Saudi Arabia has refused to lift the ban on import of live birds and eggs from Pakistan despite the fact that the country has been declared free from Bird Flu, poultry exporters said on Wednesday. In response to a request for lifting of the ban, by Pakist
Published 12 May, 2005 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Wednesday (May 11, 2005).

Published 12 May, 2005 12:00am
Saudi Arabia refuses to lift ban on Pakistani live birds and eggs

Saudi Arabia refuses to lift ban on Pakistani live birds and eggs

Saudi Arabia has refused to lift the ban on import of live birds and eggs from Pakistan despite the fact that the country has been declared free from Bird Flu, poultry exporters said on Wednesday. In response to a request for lifting of the ban, by Pakist
Published 12 May, 2005 12:00am
Five percent tax on property sale likely

Five percent tax on property sale likely

The government has drafted a proposal in budget 2005-06 to levy 5 percent income tax on transfer of property. The adjustable withholding tax may be levied at the minimum rate of 5 percent on plots, houses and other property in urban areas. However, it has
Published 12 May, 2005 12:00am
Saudi Arabia refuses to lift ban on Pakistani live birds and eggs

Saudi Arabia refuses to lift ban on Pakistani live birds and eggs

Saudi Arabia has refused to lift the ban on import of live birds and eggs from Pakistan despite the fact that the country has been declared free from Bird Flu, poultry exporters said on Wednesday. In response to a request for lifting of the ban, by Pakist
Published 12 May, 2005 12:00am
Two killed in Indian occupied Kashmir blast

Two killed in Indian occupied Kashmir blast

A crude bomb planted by freedom fighters ripped through a vehicle in the heart of Indian occupied Kashmir's main city of occupied Srinagar on Wednesday, killing two people and wounding 35 others. "It was a ground shaking explosion. I saw a huge cloud of d
Published 12 May, 2005 12:00am
MoU signed with Greece to fight organised crimes

MoU signed with Greece to fight organised crimes

Pakistan and Greece on Wednesday signed a Memorandum of Understanding (MoU) to jointly fight organised crimes, terrorism, illicit trafficking of narcotics and psychotropic substances. "Both the countries have expressed willingness to strengthen and improv
Published 12 May, 2005 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (May 11, 2005).

Published 12 May, 2005 12:00am
1,100 Pakistani workers arrive in Malaysia

1,100 Pakistani workers arrive in Malaysia

Around 1,100 Pakistani workers have arrived in Malaysia, the first batch of an estimated 100,000 Pakistanis scheduled to stream into the country to fill a labour shortage caused by the departure and expulsion of Indonesian workers, a news report said on W
Published 12 May, 2005 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (May 11, 2005).

Published 12 May, 2005 12:00am
50 percent wheat procurement target achieved

50 percent wheat procurement target achieved

The food departments of Punjab and Sindh and the Passco had purchased 2.4 million tonnes of wheat till May 10, which was 50 percent of this year's procurement target of 4.8 million tonnes, official sources told Business Recorder here on Wednesday.
Published 12 May, 2005 12:00am
SBP governor presents roadmap for SMEs development

SBP governor presents roadmap for SMEs development

State Bank of Pakistan Governor, Dr Ishrat Husain has presented a roadmap to the commercial banks for the development of small and medium enterprises (SMEs). The SBP governor elaborated on the vision of SMEs and the ways to attain that vision while addres
Published 12 May, 2005 12:00am
Nuclear-deterrence ensures balance of power: Musharraf

Nuclear-deterrence ensures balance of power: Musharraf

President General Pervez Musharraf on Wednesday visited various units of the Army Strategic Forces here. He was received by Lieutenant General Ghulam Mustafa, Commander, Army Strategic Forces Command. He remained with the force for sometime during which h
Published 12 May, 2005 12:00am
US panel wants Pakistan in religious freedom blacklist

US panel wants Pakistan in religious freedom blacklist

A US Congress-mandated commission advised the government on Wednesday to blacklist Pakistan, Turkmenistan and Uzbekistan for alleged violation of religious freedom and beliefs. The US Commission on International Religious Freedom also sought removal of In
Published 12 May, 2005 12:00am
Islamabad hails World Bank expert on Baglihar

Islamabad hails World Bank expert on Baglihar

Pakistan has welcomed the appointment of Raymond Lafitte, a Swiss civil engineer and professor as neutral expert of the World Bank (WB) on the issue of Baglihar Hydropower Project. "We are confident that the issue pertaining to Baglihar Hydro power Projec
Published 12 May, 2005 12:00am
President lauds local government representatives

President lauds local government representatives

President General Pervez Musharraf has appreciated the role of local government representatives in resolving people's problems at the local level and said that the local government system has full potential to bring about a silent revolution at the grassr
Published 12 May, 2005 12:00am
SBP governor presents roadmap for SMEs development

SBP governor presents roadmap for SMEs development

State Bank of Pakistan Governor, Dr Ishrat Husain has presented a roadmap to the commercial banks for the development of small and medium enterprises (SMEs). The SBP governor elaborated on the vision of SMEs and the ways to attain that vision while addres
Published 12 May, 2005 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (May 11, 2005).

Published 12 May, 2005 12:00am
SBP governor presents roadmap for SMEs development

SBP governor presents roadmap for SMEs development

State Bank of Pakistan Governor, Dr Ishrat Husain has presented a roadmap to the commercial banks for the development of small and medium enterprises (SMEs). The SBP governor elaborated on the vision of SMEs and the ways to attain that vision while addres
Published 12 May, 2005 12:00am
Five percent tax on property sale likely

Five percent tax on property sale likely

The government has drafted a proposal in budget 2005-06 to levy 5 percent income tax on transfer of property. The adjustable withholding tax may be levied at the minimum rate of 5 percent on plots, houses and other property in urban areas. However, it has
Published 12 May, 2005 12:00am
Five percent tax on property sale likely

Five percent tax on property sale likely

The government has drafted a proposal in budget 2005-06 to levy 5 percent income tax on transfer of property. The adjustable withholding tax may be levied at the minimum rate of 5 percent on plots, houses and other property in urban areas. However, it has
Published 12 May, 2005 12:00am
Five percent tax on property sale likely

Five percent tax on property sale likely

The government has drafted a proposal in budget 2005-06 to levy 5 percent income tax on transfer of property. The adjustable withholding tax may be levied at the minimum rate of 5 percent on plots, houses and other property in urban areas. However, it has
Published 12 May, 2005 12:00am
MCA fails to take action against cement cartel

MCA fails to take action against cement cartel

The Monopoly Control Authority (MCA) has failed to initiate punitive action against cement manufacturers' cartel as despite lapse of two years the findings of the investigation committee are yet to be implemented. Sources said the MCA had conducted invest
Published 12 May, 2005 12:00am
Sharon vows to bring peace to Israel

Sharon vows to bring peace to Israel

Israel on Wednesday commemorated the thousands of soldiers killed in the nation's wars as a fierce battle raged in government over whether the pullout from Gaza will strengthen the Jewish state's security. After the country came to a standstill for a minu
Published 12 May, 2005 12:00am
Europe clamps down on illegal immigration

Europe clamps down on illegal immigration

The countries of western Europe, joined by France on Wednesday, have stepped up their efforts to crack down on illegal immigration, adopting policies that favour the regularisation of skilled foreign workers. Last November, European Union leaders adopted
Published 12 May, 2005 12:00am
US scientists create self-replicating robot

US scientists create self-replicating robot

Self-replicating robots are no longer the stuff of science fiction. Scientists at the Cornell University in Ithaca, New York have created small robots that can build copies of themselves. Each robot consists of several 10-cm (4 inch) cubes which have iden
Published 12 May, 2005 12:00am
Bush never in danger despite Georgia grenade

Bush never in danger despite Georgia grenade

Georgian security officials discovered a hand grenade close to US President George W. Bush as he addressed a rapturous crowd in Tbilisi on Tuesday, but the White House said on Wednesday his life was never in danger. Officials in the former Soviet republic
Published 12 May, 2005 12:00am
Amnesty urges Gulf states to improve women's rights

Amnesty urges Gulf states to improve women's rights

Amnesty International urged Gulf Arab states on Wednesday to take real steps to improve the situation of women, saying they suffered violence in the family without protection from authorities. The rights watchdog said in a report that social and legal pra
Published 12 May, 2005 12:00am
Fox Movies to remake Munnabhai MBBS

Fox Movies to remake Munnabhai MBBS

Hollywood's Fox Movies will sign a deal this week with the producer of the Bollywood comedy Munnabhai MBBS to remake the hit Hindi movie in English, the film's producer said Wednesday. "This is a happy moment for the Indian film industry," producer Vidhu
Published 12 May, 2005 12:00am
White House and Congress evacuated in plane scare

White House and Congress evacuated in plane scare

US authorities briefly evacuated the White House and Congress on Wednesday after an unidentified aircraft approached the centre of Washington, raising fears of a September 11-style attack. An official of the Homeland Security Department identified the pla
Published 12 May, 2005 12:00am
EU urges China act on rights before ending arms ban

EU urges China act on rights before ending arms ban

The European Union urged China on Wednesday to free Tiananmen dissidents and ratify a UN pact on civil and political rights so as to create a climate allowing it to end an arms embargo. China said the linkage was unreasonable. The two, however, appeared t
Published 12 May, 2005 12:00am
Iran sanctions not ruled out, says Solana

Iran sanctions not ruled out, says Solana

European Union foreign affairs chief Javier Solana said on Wednesday sanctions against Iran could not be ruled out if it resumes sensitive nuclear work. "First we have to see what they will do, if they break the agreement," Solana told Reuters on the side
Published 12 May, 2005 12:00am
Swiss franc steady ahead of trade data

Swiss franc steady ahead of trade data

The Swiss franc was virtually unchanged against the dollar in early European trade on Wednesday ahead of US trade balance data to be released later in the session. The dollar last changed hands at 1.2012/18 Swiss francs, from around 1.2012/16 francs late
Published 12 May, 2005 12:00am
Australian dollar up

Australian dollar up

The Australian dollar was trapped in a narrow range above 77.50 US cents on Wednesday as the US dollar remained hemmed in ahead of overnight US trade data. The Aussie was $0.7754/59 from a day-high of $0.7773, compared with $0.7730/35 late here on Tuesday
Published 12 May, 2005 12:00am
Asian currencies move little ahead of US trade data

Asian currencies move little ahead of US trade data

The Indian rupee rose to a three-month high on Wednesday on expectations of fund inflows from two firms' equity sales in the United States, while the Indonesian rupiah gained after news of lower oil product imports. The baht was steady after Fitch Ratings
Published 12 May, 2005 12:00am
Hong Kong dollar still higher

Hong Kong dollar still higher

The Hong Kong dollar rose in late trade on Wednesday after a newspaper report said China would soon revalue the yuan next week, but then trimmed some gains after a denial from China's central bank. "There was a rumour saying China will adjust its currency
Published 12 May, 2005 12:00am
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