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Print - 2006-04-14
Slaving behind Moscow's economic boom

Slaving behind Moscow's economic boom

Rubbing the lines of dirt in his thickly-callused hands, Kurban Kalambarov says he is a "slave" at the Mytishchinsky construction goods yard in northern Moscow where he works as a cleaner.
Published 14 Apr, 2006 12:00am
E-commerce: emerging tax issues

E-commerce: emerging tax issues

The global electronic commerce (E-commerce) has facilitated the people to transcend the barriers of time and distance. Opening up a New World of economic possibility and progress, it promises a complete transformation of our life in the next decade.
Published 14 Apr, 2006 12:00am
Nuclear dangers

Nuclear dangers

During his recent trip to the US, Prime Minister Shaukat Aziz has been urging the Bush administration to adopt a "package approach" towards India and Pakistan vis-à-vis civilian nuclear technology co-operation.
Published 14 Apr, 2006 12:00am
Steel mill and the land mafia

Steel mill and the land mafia

The sale of Pakistan Steel Mills Limited - country's biggest industrial project - last month has been criticised by some members of parliament and also a section of the press (not this newspaper).
Published 14 Apr, 2006 12:00am
Government urged to register kiln workers

Government urged to register kiln workers

Pakistan Bhatta Mazdoor Union General Secretary Mahmood Ahmad Butt has urged the government to get registered all the Bhatta (brick kilns) so that rights of brick kiln workers could be safeguarded.
Published 14 Apr, 2006 12:00am
Ruling coalition to contest polls on one symbol: Faisal

Ruling coalition to contest polls on one symbol: Faisal

PPP-Patriots central leader and federal Northern Areas and Kashmir Affairs Minister Syed Faisal Saleh Hayat has said that the ruling coalition parties will contest the next general elections under one platform.
Published 14 Apr, 2006 12:00am
Assemblies will elect president if not dissolved: minister

Assemblies will elect president if not dissolved: minister

Federal Minister for Law, Justice and Human Rights Wasi Zafar has said that if not dissolved earlier, the present assemblies will elect the new president since the 5-year term of President General Pervez Musharraf and the assemblies expires on the same da
Published 14 Apr, 2006 12:00am
Punjab chief minister invited to visit Turkey

Punjab chief minister invited to visit Turkey

Punjab Chief Minister Chaudhry Pervaiz Elahi and Advisor on Education Sadia S Chaudhry have been invited to visit the schools and colleges in Turkey.
Published 14 Apr, 2006 12:00am
British High Commission Easter holidays

British High Commission Easter holidays

The British High Commission on Wednesday announced that Visa and Consular section of the high commission here and the Deputy High Commission, Karachi, would be closed for Easter from Friday (April 14) to Monday (April 17) inclusive.
Published 14 Apr, 2006 12:00am
'Sitara-i-Imtiaz' conferred on Russian scholar

'Sitara-i-Imtiaz' conferred on Russian scholar

President General Pervez Musharraf has conferred on a renowned Russian orientalist Dr Ludmila Vassilieva - the Pakistan Civil award of "Sitara-i-Imtiaz" in recognition of her outstanding services in the field of scholarship in Urdu literature.
Published 14 Apr, 2006 12:00am
EFA week to be observed from April 24

EFA week to be observed from April 24

The government will observe Education for All (EFA) week from April 24-30 by attributing the year to teachers with the slogan "Every Child Need a Teacher", Business Recorder learnt here on Thursday.
Published 14 Apr, 2006 12:00am
Sindh Assembly to take up Nishtar Park tragedy today

Sindh Assembly to take up Nishtar Park tragedy today

The Sindh Assembly session on Thursday was adjourned to meet again on Friday as mark of respect to the demise of sitting MPA Anwer Adil Hingoro (PML-F) and former MPA and MNA Hafiz Muhammad Taqi (JUP), who died in the Nishtar Park bomb blast on Tuesday. S
Published 14 Apr, 2006 12:00am
Pesco provides 821 new connections

Pesco provides 821 new connections

Pesco Marketing Cell had installed 821 connections of different categories during last 18 months. According to a press release of the company issued here on Thursday.
Published 14 Apr, 2006 12:00am
Nursing and midwives moot in September

Nursing and midwives moot in September

The government will host an international conference on "Nursing and Midwives" in September this year. The Health Ministry will arrange the conference in collaboration with the World Health Organisation (WHO), International Council of Nursing, Internation
Published 14 Apr, 2006 12:00am
Christian community's role acknowledged

Christian community's role acknowledged

Punjab Governor Lieutenant General Khalid Maqbool (Retd) holding a reception for Christian community on the occasion of Easter festivity here on Thursday cut a cake and told the community that the entire nation was indebted for the role they had played fo
Published 14 Apr, 2006 12:00am
'BoP focusing on SMEs'

'BoP focusing on SMEs'

The profitability of all banks during the last fiscal year remained exceptional due to overall economic growth and it is likely to remain strong during the coming years.
Published 14 Apr, 2006 12:00am
Karachi blast termed setback to economy

Karachi blast termed setback to economy

Condemning the Nishtar Park suicide bombing, the Rawalpindi Chamber of Commerce and Industry (RCCI) has termed it a setback to economy and asked the government to ensure law and order in the country.
Published 14 Apr, 2006 12:00am
Lahore industrialists concerned over Karachi carnage

Lahore industrialists concerned over Karachi carnage

The Lahore Township Industries Association (LTIA) has expressed its deep sorrow and grief over the loss of precious lives in a terrorist attack on a religious congregation at Nishtar Park, Karachi.
Published 14 Apr, 2006 12:00am
Mubarak invites Musharraf to World Economic Forum

Mubarak invites Musharraf to World Economic Forum

President Hosny Mubarak of Egypt has extended an invitation to President General Pervez Musharraf to participate in the World Economic Forum to be held in Sharm el-Sheikh from May 20-22.
Published 14 Apr, 2006 12:00am
Income Tax eastern region disposes of highest cases

Income Tax eastern region disposes of highest cases

Regional Commissioner of Income Tax (RCIT) Eastern Region Lahore Haji Ahmed said his region had taken the lead in disposal of highest number of cases pending at appellate tribunal level since long.
Published 14 Apr, 2006 12:00am
PPL for updating Mines, Oilfields Development Act

PPL for updating Mines, Oilfields Development Act

Pakistan Petroleum Limited (PPL) has recommended that the regulation of Mines and Oilfields Development Act 1948 should be updated in line with the provisions of fifth schedule to the Income Tax Ordinance, 2001.
Published 14 Apr, 2006 12:00am
Developmental charges waived

Developmental charges waived

The Allama Iqbal Town Nazim Sardar Kamil Omar has announced to waive off developmental charges in the larger interests of the residents of the area. He was speaking at Lahore Chamber of Commerce and Industry (LCCI) here on Thursday.
Published 14 Apr, 2006 12:00am
Hearing put off in Imax theater case

Hearing put off in Imax theater case

The Supreme Court of Pakistan on Thursday adjourned till Friday (April 14), the proceedings in a petition against the construction of Imax Theater.
Published 14 Apr, 2006 12:00am
LHC issues notices to chief minister's advisors

LHC issues notices to chief minister's advisors

The Lahore High Court (LHC), while issuing notices to advisors to the Chief Minister Punjab, directed them to submit their replies to the court by April 20, and also explain as under which authority of law they were retaining their offices.
Published 14 Apr, 2006 12:00am
UNEP calls for restoring wetlands

UNEP calls for restoring wetlands

Restoring the tens of thousands of lost and degraded wetlands could go a long way towards reducing the threat of avian flu pandemics. The loss of wetlands around the globe is forcing many wild birds onto alternative sites like farm ponds and paddy fields,
Published 14 Apr, 2006 12:00am
Businesswomen briefed about tax initiatives

Businesswomen briefed about tax initiatives

Regional Commissioner of Income Tax (RCIT), Eastern Region Lahore, Haji Ahmed on Thursday briefed a delegation of Women Chamber of Commerce and Industry (WCCI) on various tax related matters, especially the initiatives taken by the government concerning t
Published 14 Apr, 2006 12:00am
Ban on cement export hailed

Ban on cement export hailed

The Sialkot Chamber of Commerce and Industry (SCCI) has welcomed the government's ban on the exports of cement from Pakistan. Talking to the newsmen at SCCI here, SCCI's Vice President Ejaz Ahmad Soni urged the government to allow immediate duty-free impo
Published 14 Apr, 2006 12:00am
Ghani meets Maqbool

Ghani meets Maqbool

Balochistan Governor Awais Ghani called on Punjab Governor Lieutenant General Khalid Maqbool (Retd) at Governor's House here on Thursday. Both the leaders discussed current political situation and matters pertaining to the development of their respective
Published 14 Apr, 2006 12:00am
LCCI website inaugurated

LCCI website inaugurated

Provincial Minister for Information Technology Abdul Aleem Khan has called upon the chambers to adopt modern ways and means and latest technology for improving their working, as it could pave the way to strengthen the national economy.
Published 14 Apr, 2006 12:00am
Strike observed in Gujranwala

Strike observed in Gujranwala

Like Lahore, local traders also observed complete strike here on Thursday to protest the Nishtar Park bombing that claimed several precious lives.
Published 14 Apr, 2006 12:00am
Shutter down strike observed in Lahore

Shutter down strike observed in Lahore

Trade and business community observed a complete shutter down strike in the provincial capital on Thursday to mourn the killings of innocent people in Karachi on the occasion of Eid Milad un Nabi (SAW).
Published 14 Apr, 2006 12:00am
Strike continues in interior Sindh

Strike continues in interior Sindh

Strike continued on the second day to express sorrow and grief over the Nishtar Park incident throughout the interior Sindh on Thursday. In Hyderabad, the shops were opened in the morning but the angry youths came out on the roads and forced the shopkeepe
Published 14 Apr, 2006 12:00am
Indian Punjab blind cricket team due today

Indian Punjab blind cricket team due today

Indian Punjab Blind Cricket team is reaching Pakistan on Friday (April 14) to play five one-day matches series against Pakistan Blind Cricket team.
Published 14 Apr, 2006 12:00am
Karachi bomb blast widely condemned

Karachi bomb blast widely condemned

Political and religious parties as well as trade unions have vehemently condemned the Tuesday evening bomb blast at Nishtar Park in Karachi during the Jashan-i-Eid Milad-un-Nabi (PBUH) celebration, and termed it a conspiracy to foment sectarian strife.
Published 14 Apr, 2006 12:00am
PPP flays Pakistan Steel sell-off at throwaway price

PPP flays Pakistan Steel sell-off at throwaway price

Pakistan People's Party (PPP) on Thursday slated sale of Pakistan Steel Mills at throwaway price of Rs 21.6 billion and demanded of the Chief Justice of Pakistan to take suo motu notice.
Published 14 Apr, 2006 12:00am
Government failed to maintain law and order: PML-N

Government failed to maintain law and order: PML-N

Blast in Karachi, resulting deaths of several innocent persons is the reflection of worst law and order situation in the country, which shows that government has totally failed to fulfil its basic obligation of maintaining law and order in the country, he
Published 14 Apr, 2006 12:00am
Industrialist recovered

Industrialist recovered

The Police have recovered Waheed Dar - an industrialist, who was kidnapped for ransom from Mian Sansi road while on his way to factory a few days ago. The police arrested five kidnappers including two women and recovered ransom amount of Rs 2.2 million pa
Published 14 Apr, 2006 12:00am
France to help set up engineering university in Karachi

France to help set up engineering university in Karachi

France would help Pakistan in setting-up a world class engineering university at Karachi to produce high quality graduates and strengthen university-industry linkages. A consortium of some of the best French universities will collaborate with Higher Educa
Published 14 Apr, 2006 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

Who exploded the bomb that killed scores of devotees at the Nishtar Park is yet a question before the forensic experts, but members of the country's highest forum, the National Assembly, already knew its answer.
Published 14 Apr, 2006 12:00am
Business Recorder staffer grieved

Business Recorder staffer grieved

Rehmat Bibi wife of Late Usman Haji and mother of Hanif Sheikh, Business Recorder Marketing & Advertisement Department and Younus Sheikh of The Conquest passed away on Thursday, (April 12, 2006), after brief illness.
Published 14 Apr, 2006 12:00am
Tremendous rise in rice export via Quetta

Tremendous rise in rice export via Quetta

Rice export through Balochistan border has tremendously increased, crossing the figure of 0.5 million tons, as 250,000 tons rice was exported to Iran, and the same quantity was exported to Afghanistan in the nine months of this fiscal year.
Published 14 Apr, 2006 12:00am
CAA fuel saving drive successful

CAA fuel saving drive successful

While the airlines round the world are groaning under the burden of incessant increase in aviation fuel prices, the campaign launched by the Civil Aviation Authority (CAA) for fuel savings has resulted in incredible savings in fuel for the domestic carrie
Published 14 Apr, 2006 12:00am
Azgard Nine on rating watch

Azgard Nine on rating watch

Pakistan Credit Rating Agency (Pacra) has placed Azgard Nine Limited on rating watch following its acquisition of Pak-American Fertilisers.
Published 14 Apr, 2006 12:00am
Azgard Nine on rating watch

Azgard Nine on rating watch

Pakistan Credit Rating Agency (Pacra) has placed Azgard Nine Limited on rating watch following its acquisition of Pak-American Fertilisers.
Published 14 Apr, 2006 12:00am
Al Meezan Investment signs accord with MBL

Al Meezan Investment signs accord with MBL

Al Meezan Investment Management Limited (AMIM) on April 5, 2006 entered into a mutually beneficial agreement with Meezan Bank Limited (MBL) to set up exclusive sales counters at selected branches of the MBL to sell open-end funds of AMIM.
Published 14 Apr, 2006 12:00am
Al Meezan Investment signs accord with MBL

Al Meezan Investment signs accord with MBL

Al Meezan Investment Management Limited (AMIM) on April 5, 2006 entered into a mutually beneficial agreement with Meezan Bank Limited (MBL) to set up exclusive sales counters at selected branches of the MBL to sell open-end funds of AMIM.
Published 14 Apr, 2006 12:00am
CDGK to build 15 pedestrian bridges

CDGK to build 15 pedestrian bridges

The City District Government Karachi (CDGK) is going to construct 15 pedestrian bridges at different spots of the metropolis from its own resources, including one on Shahra-e-Faisal, after revoking the agreement of a private firm due to delay in construct
Published 14 Apr, 2006 12:00am
Workshop

Workshop

An awareness raising workshop for parliamentarians on 'Gender responsive budgeting initiative (GRBI)' will he organised by Finance department at a local hotel on Friday.
Published 14 Apr, 2006 12:00am
Illegal gateway exchange seized

Illegal gateway exchange seized

A joint team of Pakistan Telecommunication Authority (PTA), NSS (PTCL) and FIA raided a house in Islamabad and seized an illegal gateway exchange being operated from there.
Published 14 Apr, 2006 12:00am
Jalalabad bus service may be delayed

Jalalabad bus service may be delayed

Pakistan and Afghanistan are unlikely to commence regular cross-border bus service from Saturday (April 15), it is learnt. Official sources told Business Recorder the bus service between Peshawar and Jalalabad would most probably be delayed for one
Published 14 Apr, 2006 12:00am
Islamabad airport to be closed on April 15 and 16

Islamabad airport to be closed on April 15 and 16

The Islamabad International Airport would remain closed on arrival and departure of the Saudi Crown Prince Sultan bin Abdul Aziz on Saturday (April 15) and on Sunday (April 16).
Published 14 Apr, 2006 12:00am
Prime Minister hints at headway into Nishtar Park tragedy probe

Prime Minister hints at headway into Nishtar Park tragedy probe

Prime Minister Shaukat Aziz on Thursday hinted of a headway in the probe pertaining to the tragic bomb blast at Nishter Park. He was talking to newsmen after a meeting with Ulema and Mashaikh at the Governor House here.
Published 14 Apr, 2006 12:00am
World Bank economist calls on Salman

World Bank economist calls on Salman

The World Bank economist Tercan Baysan called on Prime Minister's adviser on Finance Dr Salman Shah and presented to him a report on Pakistan's growth and export competitiveness.
Published 14 Apr, 2006 12:00am
The Weather

The Weather

The weather report on Thursday (April 13, 2006) and the forecast for Friday (April 14, 2006).
Published 14 Apr, 2006 12:00am
Japan grieved

Japan grieved

Japan has strongly condemned the bomb blast in Karachi and assured that it will continue to strengthen co-operation with Pakistan in the international efforts for tackling terrorism, a statement from the Japan embassy said on Thursday.
Published 14 Apr, 2006 12:00am
New York cotton

New York cotton

Wednesday's closing prices of New York cotton in US cents/lb.

Published 14 Apr, 2006 12:00am
First batch of female paratroopers passes out

First batch of female paratroopers passes out

The first-ever batch of two lady aviation cadets completed their para-trooping training on Thursday from Para Training Squadron, PAF Academy, Risalpur.
Published 14 Apr, 2006 12:00am
New York cotton

New York cotton

Wednesday's closing prices of New York cotton in US cents/lb.

Published 14 Apr, 2006 12:00am
PAF annual flight safety review held

PAF annual flight safety review held

The Annual Flight Safety review of the Pakistan Air Force (PAF) for the year 2005 was held here at Air Headquarters on Thursday. Air Chief Marshal Tanvir Mehmood Ahmed as Chief of the Air Staff, presided over the session.
Published 14 Apr, 2006 12:00am
Reward rules flaws to be ratified

Reward rules flaws to be ratified

Basic flaws in the existing reward rules need to be ratified to check drainage of billions being paid to customs, sales tax and central excise officials as prize money on revenue recovery.
Published 14 Apr, 2006 12:00am
Demand to liberalise trade with India rejected

Demand to liberalise trade with India rejected

Commerce Minister Humayun Akhtar Khan on Thursday rejected business community''s demand of liberalising trade with India, saying that Pakistan has linked the issue to progress in resolution of political disputes, including Kashmir.
Published 14 Apr, 2006 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (April 13, 2006).

Published 14 Apr, 2006 12:00am
Demand to liberalise trade with India rejected

Demand to liberalise trade with India rejected

Commerce Minister Humayun Akhtar Khan on Thursday rejected business community's demand of liberalising trade with India, saying that Pakistan has linked the issue to progress in resolution of political disputes, including Kashmir.
Published 14 Apr, 2006 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Thursday (April 13, 2006) and for Friday (April 14, 2006).
Published 14 Apr, 2006 12:00am
Demand to liberalise trade with India rejected

Demand to liberalise trade with India rejected

Commerce Minister Humayun Akhtar Khan on Thursday rejected business community's demand of liberalising trade with India, saying that Pakistan has linked the issue to progress in resolution of political disputes, including Kashmir.
Published 14 Apr, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (April 13, 2006).

Published 14 Apr, 2006 12:00am
Cement import from India proposed: ECC meeting today

Cement import from India proposed: ECC meeting today

The Industries and Production Ministry has recommended to the government to allow cement import from India to bridge the demand-supply gap in the country, official sources told Business Recorder here on Thursday.
Published 14 Apr, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (April 13, 2006).

Published 14 Apr, 2006 12:00am
Cement import from India proposed: ECC meeting today

Cement import from India proposed: ECC meeting today

The Industries and Production Ministry has recommended to the government to allow cement import from India to bridge the demand-supply gap in the country, official sources told Business Recorder here on Thursday.
Published 14 Apr, 2006 12:00am
Cement import from India proposed: ECC meeting today

Cement import from India proposed: ECC meeting today

The Industries and Production Ministry has recommended to the government to allow cement import from India to bridge the demand-supply gap in the country, official sources told Business Recorder here on Thursday.
Published 14 Apr, 2006 12:00am
Two Air Commodores promoted

Two Air Commodores promoted

The government promoted Air Commodores Farhat Hussain Khan and Riaz-ul-Haq to the rank of Air Vice Marshal. Air Vice Marshal Farhat Hussain Khan was commissioned in Pakistan Air Force on March 06, 1977 in Flying Branch.
Published 14 Apr, 2006 12:00am
THE RUPEE: modest gains recorded on currency market

THE RUPEE: modest gains recorded on currency market

Bullish sentiment was seen in the interbank market on Thursday as the rupee gained versus the dollar moderately, picking up four paisa for buying at 59.96 and rose by five paisa for selling at 59.96 and 59.98, dealers said.
Published 14 Apr, 2006 12:00am
Two Air Commodores promoted

Two Air Commodores promoted

The government promoted Air Commodores Farhat Hussain Khan and Riaz-ul-Haq to the rank of Air Vice Marshal. Air Vice Marshal Farhat Hussain Khan was commissioned in Pakistan Air Force on March 06, 1977 in Flying Branch.
Published 14 Apr, 2006 12:00am
THE RUPEE: modest gains recorded on currency market

THE RUPEE: modest gains recorded on currency market

Bullish sentiment was seen in the interbank market on Thursday as the rupee gained versus the dollar moderately, picking up four paisa for buying at 59.96 and rose by five paisa for selling at 59.96 and 59.98, dealers said.
Published 14 Apr, 2006 12:00am
CDC shares custody surges to 31.7 billion

CDC shares custody surges to 31.7 billion

The Central Depository Company of Pakistan Limited (CDC) has inducted and subsequently, transferred 1.326 billion LOT 'B' shares of Pakistan Telecommunications Company Limited (PTCL) to the account of the buyer.
Published 14 Apr, 2006 12:00am
Chemicals: CLARIANT PAKISTAN LIMITED - Year Ended 31-12-2005

Chemicals: CLARIANT PAKISTAN LIMITED - Year Ended 31-12-2005

This subsidiary of Swiss multinational corporation has maintained upward trend in sales and profitability. The achievement looks all the more impressive if judged in the backdrop of immense pressure on its petroleum based raw material.
Published 14 Apr, 2006 12:00am
Far-reaching amendments to judicial system proposed

Far-reaching amendments to judicial system proposed

The government has proposed far reaching amendments to the practice and procedure of the high courts and the administration of justice through distribution of business of the court between civil division benches and criminal division benches.
Published 14 Apr, 2006 12:00am
Chemicals: CLARIANT PAKISTAN LIMITED - Year Ended 31-12-2005

Chemicals: CLARIANT PAKISTAN LIMITED - Year Ended 31-12-2005

This subsidiary of Swiss multinational corporation has maintained upward trend in sales and profitability. The achievement looks all the more impressive if judged in the backdrop of immense pressure on its petroleum based raw material.
Published 14 Apr, 2006 12:00am
US asked to adopt rational approach on BIT clauses

US asked to adopt rational approach on BIT clauses

Pakistan has asked the United States to adopt rational approach on some of the disputed clauses of Bilateral Investment Treaty (BIT), including arbitration, investment compensation and the role of the Parliament and judiciary.
Published 14 Apr, 2006 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Thursday (April 13, 2006).

Published 14 Apr, 2006 12:00am
Seized diplomatic vehicle released after tribunal''''s decision

Seized diplomatic vehicle released after tribunal''''s decision

The customs authorities have released a confiscated diplomatic vehicle (Mercedes Benz) to the Embassy of Republic of Kazakhstan following a Customs, Central Excise, Sales Tax, Appellate Tribunal decision, in a case constituted by the Directorate General o
Published 14 Apr, 2006 12:00am
Seized diplomatic vehicle released after tribunal''s decision

Seized diplomatic vehicle released after tribunal''s decision

The customs authorities have released a confiscated diplomatic vehicle (Mercedes Benz) to the Embassy of Republic of Kazakhstan following a Customs, Central Excise, Sales Tax, Appellate Tribunal decision, in a case constituted by the Directorate General o
Published 14 Apr, 2006 12:00am
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