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Print - 2006-12-14
AJK Prime Minister for early solution of Kashmir issue

AJK Prime Minister for early solution of Kashmir issue

AJK Prime Minister Sardar Attique Ahmed Khan on Wednesday urged the Indian rulers to accept the ground realities in Occupied Jammu and Kashmir and move for the early solution of the Kashmir problem in accordance with the UN resolutions and as per wishes o
Published 14 Dec, 2006 12:00am
Motion filed for Senate debate on IMF proposal

Motion filed for Senate debate on IMF proposal

The opposition on Wednesday filed an adjournment motion with the Senate for debate on IMF proposal to devalue the currency by 10 percent to boost exports. Expressing concern over the development, opposition senators cautioned that any depreciation of the
Published 14 Dec, 2006 12:00am
Political leaders slam foreign office statement

Political leaders slam foreign office statement

Various political and religious circles in Multan have condemned the recent briefing of Foreign Affair spokesperson and said no Pakistani ruler had right to say that Kashmir was not an integral part of Pakistan as long as the Kashmiris did not decide thei
Published 14 Dec, 2006 12:00am
Labourers protest price hike and unemployment

Labourers protest price hike and unemployment

Pakistan Labour Federation (PLF), NWFP chapter, on Wednesday staged a protest demonstration against sky rocketing price hike, growing unemployment and lawlessness in the country. Provincial president of the federation Abdul Rab Sabir led the demonstrators
Published 14 Dec, 2006 12:00am
'Punjab government implementing international labour standards'

'Punjab government implementing international labour standards'

'Punjab government is implementing the international labour standards as they are an essential component in the international framework for ensuring that the growth of the global economy provides benefits to the all stakeholders.'
Published 14 Dec, 2006 12:00am
Political parties urged to award 33 percent tickets to women

Political parties urged to award 33 percent tickets to women

Aurat Foundation and its partner network of civil society organisations have called on the political parties to award at least 33 percent party tickets for general seats to women candidates during the next general elections.
Published 14 Dec, 2006 12:00am
Wapda spends Rs 19.2 billion to cut system losses

Wapda spends Rs 19.2 billion to cut system losses

Water and Power Development Authority (Wapda) is implementing a comprehensive plan to reduce its system losses and to provide stable power supply to the customers. Rupees 19.2 billion has already been spent and another Rs 33 billion will be spent by 2008.
Published 14 Dec, 2006 12:00am
Iranian carmakers keen on joint ventures

Iranian carmakers keen on joint ventures

Iranian motorcar manufacturers on Wednesday expressed interest in entering into joint ventures with the Pakistani investors in general and of the North West Frontier Province (NWFP) of Pakistan in particular.
Published 14 Dec, 2006 12:00am
New budgeting system opens today

New budgeting system opens today

Federal Minister for Finance Omar Ayub Khan will inaugurate the new accounting and budgeting system in the province on Thursday (December 14). According to a release, issued by the Regional Information Department here on Wednesday.
Published 14 Dec, 2006 12:00am
Japan to provide $207 million loan for two projects

Japan to provide $207 million loan for two projects

The governments of Pakistan and Japan signed here on Wednesday a note verbale whereby Japan would provide a soft loan of 207 million dollars (23.157 billion Yen) for two projects under its Official Development Assistance to Pakistan.
Published 14 Dec, 2006 12:00am
Corporate social responsibility among businessmen stressed

Corporate social responsibility among businessmen stressed

The National Institute of Competitiveness organised a roundtable conference on "Towards a national corporate social responsibility (CSR) framework" in collaboration with German Agency of Technical Cooperation (GTZ) at Sialkot Chamber of Commerce and Indus
Published 14 Dec, 2006 12:00am
India's position on Kashmir not legally tenable: Tasneem

India's position on Kashmir not legally tenable: Tasneem

Foreign Office spokesperson Tasneem Aslam has said that India's position on Kashmir issue is not legally tenable and Pakistan has a legal, moral and political edge on the longstanding dispute.
Published 14 Dec, 2006 12:00am
Regional FTAs urged for socio-economic uplift

Regional FTAs urged for socio-economic uplift

Speakers at a brainstorming conference have urged regional free trade agreements (FTAs) for rapid socio-economic development and prosperity in South Asian region. They also agreed to cascade heavy military expenditures and nuclear capabilities, which as t
Published 14 Dec, 2006 12:00am
Islamabad and Oslo agree to boost economic ties

Islamabad and Oslo agree to boost economic ties

Pakistan and Norway have agreed to boost political consultations and further strengthen their trade, investment and economic ties to forge a productive partnership. This was stated by Foreign Minister, Khurshid Mahmood Kasuri and his Norwegian counterpart
Published 14 Dec, 2006 12:00am
Spirit of courage to guide future generations: Soomro

Spirit of courage to guide future generations: Soomro

Chairman Senate Mohammedmian Soomro has said that the courage, resilience and spirit of sharing and caring as demonstrated by the people during and after the tragic earthquake will continue to strengthen the nerves of our successors for a very long time.
Published 14 Dec, 2006 12:00am
Kasuri defends Musharraf's statement on Kashmir

Kasuri defends Musharraf's statement on Kashmir

Foreign Minister Khurshid Mahmood Kasuri has said Pakistan stands by its principled position on Kashmir, which has been derived from the UN Security Council resolutions.
Published 14 Dec, 2006 12:00am
Gilani rejects new formula on Kashmir

Gilani rejects new formula on Kashmir

Kashmiri leader Dr Syed Nazir Gilani, Chairman International Kashmir Alliance and advocate Supreme Court has rejected President Musharraf's proposal pertaining to the resolution of Kashmir issue. President Musharraf in his interview to a private Indian ch
Published 14 Dec, 2006 12:00am
No shift in policy on Kashmir: Durrani

No shift in policy on Kashmir: Durrani

Information and Broadcasting Minister Muhammad Ali Durrani said on Wednesday the government is standing firm to uphold the national cause and there is no shift in its policy to solve the core issue of Kashmir in accordance with the aspirations of Kashmiri
Published 14 Dec, 2006 12:00am
PCMEA polling held

PCMEA polling held

Mian Javid-ur-Rehman has been elected as Chairman Pakistan Carpet Manufactures and Exporters Association (PCMEA) for the year 2006-2008. He was elected in the Annual General Meeting of the association held here on Wednesday.
Published 14 Dec, 2006 12:00am
CNG-powered car on world tour reaches Multan

CNG-powered car on world tour reaches Multan

Rainer Zietlow is attempting to set a Guinness World Record for driving around the world in a Volkswagen powered by natural gas. The accomplished driver has now arrived in Multan accompanied by his three-member team, Florian Hilpert, Frane Yanusiewicz and
Published 14 Dec, 2006 12:00am
Pakistan approaches Russia to sign PTA

Pakistan approaches Russia to sign PTA

Pakistan has approached Russian Federation to sign Preferential Trade Agreement (PTA), which will finally lead to Free Trade Agreement (FTA) between the two countries. A working group of Pakistani and Russian officials is likely to hold its first meeting
Published 14 Dec, 2006 12:00am
Saudi Arabian trade fair in Pakistan in March: envoy

Saudi Arabian trade fair in Pakistan in March: envoy

Saudi Arabia will hold an exhibition of its products in Islamabad in March to encourage interaction between the private sectors of the two countries, Saudi Ambassador to Pakistan Ali S. Awadh Al-Asseeri said on Wednesday.
Published 14 Dec, 2006 12:00am
Efforts on to tap Pak-Saudi trade potential

Efforts on to tap Pak-Saudi trade potential

Efforts are being made to tap huge trade potential, which exists between Pakistan and Saudi Arabia. Senior Analyst Dr Rasool Buksh Raees stated this, while talking to PTV on Wednesday. He said Pakistan and Saudi Arabia are coupled with each other with str
Published 14 Dec, 2006 12:00am
Saarc states urged to unite against agriculture challenges

Saarc states urged to unite against agriculture challenges

Pakistan has asked the member states of the South Asian Association of Regional Cooperation (SAARC) to join hands to tackle upcoming challenges of the agri sector, said Food, Agriculture and Livestock Secretary Muhammad Ismail Qureshi on Tuesday.
Published 14 Dec, 2006 12:00am
Third international marathon race on January 14

Third international marathon race on January 14

The third international marathon race at Lahore will be held on January 14, 2007 in categories of five, 10 and 42 kilometres. Chairman Chief Minister's Task Force on Lahore, Ghaus-e-Akbar, Lahore City District Nazim Mian Amer Mehmood and others announced
Published 14 Dec, 2006 12:00am
The Weather

The Weather

The weather report on Wednesday (December 13, 2006) and the forecast for Thursday (December 14, 2006).
Published 14 Dec, 2006 12:00am
USAid team visits Tusdec

USAid team visits Tusdec

A three-member USAID delegation led by Amy Meyer, Director Economic Growth visited Tusdec (Technology Up gradation and Skill Development Company) head office in Lahore and discussed the ways for collaboration between the two organisations.
Published 14 Dec, 2006 12:00am
New York cotton

New York cotton

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

Published 14 Dec, 2006 12:00am
Research key to achieving high farm yield: Bosan

Research key to achieving high farm yield: Bosan

Federal Minister for Food, Agriculture and Livestock, Sikandar Hayat Bosan has said that the agricultural research is a major driving force behind achieving high agricultural production targets.
Published 14 Dec, 2006 12:00am
New York cotton

New York cotton

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

Published 14 Dec, 2006 12:00am
Three judges proceeding for Haj

Three judges proceeding for Haj

Three LHC judges are proceeding to Saudi Arabia for performing Haj. They will leave here on December 20. The judges who are proceeding abroad for performing Haj are Justice Khawaja Muhammad Sharif, Justice Muzammal Khan and Justice Umar Atta Bandial.
Published 14 Dec, 2006 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 14 Dec, 2006 12:00am
Hearing put off

Hearing put off

The Lahore High Court (LHC) has adjourned the proceedings till December 19, in a petition against Senator Haroon Akhtar for final arguments. The petitioner Dr Israr Shah, a PPPP loosing candidate for Senate against Haroon Akhtar had approached the LHC aga
Published 14 Dec, 2006 12:00am
SHC lifts ban on teachers' bodies

SHC lifts ban on teachers' bodies

Sindh High Court has declared the ban on teachers' associations unlawful and restored teachers' bodies in the province. A two-member SHC bench, comprising of Chief Justice Sabeeh-ud-din Ahmed and Justice Faisal Arab, in the verdict announced on Wednesday
Published 14 Dec, 2006 12:00am
Supreme Court starts examination of Diyat laws

Supreme Court starts examination of Diyat laws

A five-member larger bench of the Supreme Court started in-depth examination of the Diyat laws promulgated in 1990 and clubbed all appeals in such cases to give a comprehensive judgement and remove impediments in the implementation of these laws.
Published 14 Dec, 2006 12:00am
MCA holds Nestle case hearing

MCA holds Nestle case hearing

Monopoly Control Authority (MCA), headed by its Chairman Khalid A Mirza, held another hearing in the case of Nestle Pakistan Ltd (formerly Nestle Milkpak Ltd) here on Tuesday.
Published 14 Dec, 2006 12:00am
Cotton Spot Rates

Cotton Spot Rates

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

Published 14 Dec, 2006 12:00am
UHS joins Ideal Consortium

UHS joins Ideal Consortium

The University of Health Sciences (UHS) quest in modernising medical education was given a boost on Wednesday following its admission into the Hong Kong based International Database for Enhanced Assessments & Learning (Ideal) Consortium.
Published 14 Dec, 2006 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Wednesday (December 13, 2006) and for Thursday (December 14, 2006).
Published 14 Dec, 2006 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, December 14, 2006

Published 14 Dec, 2006 12:00am
More financial autonomy for provinces on card

More financial autonomy for provinces on card

The government is considering to allow more provincial autonomy, specially financial powers to provinces as the sub-committee of the Parliamentary Committee on Balochistan meets shortly to finalise recommendations.
Published 14 Dec, 2006 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, December 14, 2006

Published 14 Dec, 2006 12:00am
Legislatures urged to use gender neutral language

Legislatures urged to use gender neutral language

The Executive Committee of the Commonwealth Parliamentary Association (CPA) has urged all parliaments and legislatures to use gender neutral language and remove such expressions from their official communication that only represent men.
Published 14 Dec, 2006 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, December 14, 2006

Published 14 Dec, 2006 12:00am
Only Rs 693 million spent so far on population welfare plans

Only Rs 693 million spent so far on population welfare plans

Due to bureaucratic negligence, the Population Welfare Ministry could spend so far only Rs 693 million, out of Rs 2322.727 million under PSDP for 2006-07. Sources told Business Recorder on Wednesday that attached departments have been asked to give
Published 14 Dec, 2006 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Wednesday (December 13, 2006).

Published 14 Dec, 2006 12:00am
Plan to build flyovers under consideration: Nasreen

Plan to build flyovers under consideration: Nasreen

City Naib Nazim Nasrin Jalil has said that a plan for construction of flyovers at all the traffic pressure points in co-operation with Japan, is under consideration for solving traffic problems in Karachi.
Published 14 Dec, 2006 12:00am
Graduation parade

Graduation parade

The Governor of Sindh, Dr Ishratul Ibad will be the chief guest at graduation parade for the Elite Police Commandos on Thursday at 10am at Anti-Terrorist Training Center, Razzakabad, Malir, Karachi.
Published 14 Dec, 2006 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (December 13, 2006).

Published 14 Dec, 2006 12:00am
Five million drug addicts in Pakistan, AKU raises voice

Five million drug addicts in Pakistan, AKU raises voice

Aga Khan Social Welfare Board for Pakistan's Portfolio for Prevention of Substance Abuse organised "Your voice against drugs - A show for a cause" in collaboration with the Anti-Narcotics Force Pakistan and Creek Marina Private Limited at the PAF Museum L
Published 14 Dec, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

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

Published 14 Dec, 2006 12:00am
Drive against profiteering milk sellers launched

Drive against profiteering milk sellers launched

City District Government Karachi (CDGK) has finally decided to take on all outstanding challenges to control illegal price escalation of essential commodities in the metropolis by initiating anti-profiteering drive to bring down the increased milk prices
Published 14 Dec, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

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

Published 14 Dec, 2006 12:00am
Toyota technical education programme held

Toyota technical education programme held

Indus Motor Company held the second Toyota technical educational program (T-TEP) career day at St. Patrick Institute of Science and Technology, says a press release. Professor Dr Muzaffar Mahmood, Pro Vice Chancellor, NED University of Engineering and Tec
Published 14 Dec, 2006 12:00am
MoU inked for solar power project

MoU inked for solar power project

In order to ensure provision of electricity to citizens, especially those living in slums and Katchi Abadis, a Memorandum of Understanding (MoU) on 'smart green energy for the masses' was signed between Sindh Information Technology (IT) department and a G
Published 14 Dec, 2006 12:00am
THE RUPEE: small gains versus dollar

THE RUPEE: small gains versus dollar

The rupee recovered modestly versus the dollar in the interbank market on Wednesday, gaining two paisa for buying at 60.87 and picking up three paisa for selling at 60.88, respectively.
Published 14 Dec, 2006 12:00am
Reconciliation bodies to be set up in other districts

Reconciliation bodies to be set up in other districts

Sindh Minister for Local Government, Katchi Abadis and Special Development, Muhammed Hussein Khan, has said that in view of the success of 'Musalahat Anjumans' (reconciliation bodies) in Dadu and Shikarpur the same would be replicated in Jacobabad, Nawabs
Published 14 Dec, 2006 12:00am
THE RUPEE: small gains versus dollar

THE RUPEE: small gains versus dollar

The rupee recovered modestly versus the dollar in the interbank market on Wednesday, gaining two paisa for buying at 60.87 and picking up three paisa for selling at 60.88, respectively.
Published 14 Dec, 2006 12:00am
MBA students apprised of ISE working

MBA students apprised of ISE working

A group of MBA students from International Islamic University, Islamabad, visited Islamabad Stock Exchange (ISE) on Tuesday to learn about stock market operations and investment procedures.
Published 14 Dec, 2006 12:00am
Seminar on Basel-II, operational risk held

Seminar on Basel-II, operational risk held

A one-day training seminar on Basel-II & Operational Risk was conducted at Learning Resource Centre, State Bank of Pakistan, under the auspices of Business Solutions here, on Tuesday.
Published 14 Dec, 2006 12:00am
Aga Khan's birthday celebrated

Aga Khan's birthday celebrated

Like other parts of the country the 70th birth anniversary of Prince Karim Aga Khan was celebrated on Wednesday with traditional zeal and fervour throughout Northern Areas. The day was dawned with special prayer for integrity, solidarity and progress of t
Published 14 Dec, 2006 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Wednesday (December 13, 2006).

Published 14 Dec, 2006 12:00am
NWFP governor calls for creating Edwards College database

NWFP governor calls for creating Edwards College database

The NWFP Governor, Lieutenant General Ali Muhammad Jan Aurakzai (Retd) while appreciating the contribution of institutions like Edwards College Peshawar in the promotion of education, has said, there is dire need to make more serious efforts to strengthen
Published 14 Dec, 2006 12:00am
'DMCs to maintain check and balance over government departments'

'DMCs to maintain check and balance over government departments'

The District Nazim Hyderabad Kanwar Naveed Jamil has said that main purpose of constitution of district monitoring committees (DMC) was to maintain check and balance over the government organisations to ensure efficient utilisation of government resources
Published 14 Dec, 2006 12:00am
Education reforms from September 2007: minister

Education reforms from September 2007: minister

Federal Minister for Education, Lieutenant General Javed Ashraf Qazi (Retd) said that major education reforms process has been completed, which will be implemented from September next year and literacy rate in the country will be over 60 percent at the en
Published 14 Dec, 2006 12:00am
Power and gas distribution shows negative growth: SBP governor

Power and gas distribution shows negative growth: SBP governor

State Bank of Pakistan (SBP) Governor Dr Shamshad Akhtar has said that the electricity and gas distribution sector witnessed a negative growth in 2005-2006, pointing a serious issue of huge operating expenses in the form of increased input costs of gas an
Published 14 Dec, 2006 12:00am
Textile spinning units: German experts find loopholes

Textile spinning units: German experts find loopholes

A study on selected textile spinning units by German-based Werner Consultancy has pinpointed loopholes in the management of the entire supply chain vis-à-vis China, India and Bangladesh etc.
Published 14 Dec, 2006 12:00am
SNGPL signs GSA with Savari Power

SNGPL signs GSA with Savari Power

Sui Northern Gas Pipeline Limited (SNGPL) on Wednesday signed a gas sales agreement (GSA) with M/S Savari Power (Pvt) Ltd, for supplying 100 MMCFD gas. SNGPL Managing Director A. Rashid Lone and Savari Power Chief Executive M. Rafi Khan signed the GSA on
Published 14 Dec, 2006 12:00am
Member To Member

Member To Member

Members have subsequently reported the transactions on Wednesday (December 13, 2006).

Published 14 Dec, 2006 12:00am
Shahid elected Sope president

Shahid elected Sope president

Muhammad Shahid, Joint Secretary/Director General Projects Wing, Planning Commission has been elected as President Society of Pakistan Economists (Sope).
Published 14 Dec, 2006 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Wednesday (December 13, 2006).

Published 14 Dec, 2006 12:00am
Ogra denies report

Ogra denies report

Oil and Gas Regulatory Authority has denied a news item appearing in a section of press that it has allowed revision of CNG consumer price across the country by Rs 2.92 per kilogram.
Published 14 Dec, 2006 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 14 Dec, 2006 12:00am
Orascom achieves 50 million subscriber mark in a year

Orascom achieves 50 million subscriber mark in a year

The parent company of Mobilink, Orascom Telecom Holdings (OTH) has announced its subscriber base exceeding the 50 million benchmark, an achievement which has come by virtue of growing from 30 million to 50 million in 12 months or a 67 percent increase.
Published 14 Dec, 2006 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 14 Dec, 2006 12:00am
Orascom achieves 50 million subscriber mark in a year

Orascom achieves 50 million subscriber mark in a year

The parent company of Mobilink, Orascom Telecom Holdings (OTH) has announced its subscriber base exceeding the 50 million benchmark, an achievement which has come by virtue of growing from 30 million to 50 million in 12 months or a 67 percent increase.
Published 14 Dec, 2006 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Wednesday (December 13, 2006).

Published 14 Dec, 2006 12:00am
University for overseas Pakistanis next year: minister

University for overseas Pakistanis next year: minister

Minister for Labour, Manpower and Overseas Pakistanis, Ghulam Sarwar Khan on Wednesday said that a university for overseas Pakistanis would be set up in Islamabad in 2007. Speaking in a PTV programme, he said the charter for this university has already be
Published 14 Dec, 2006 12:00am
Reception on Kenya Day hosted

Reception on Kenya Day hosted

The High Commissioner of Kenya Ms Mishi Masika Mwatsahu hosted a reception on the occasion of her country Independence Day at her residence the other day. Minister of State for Health Begum Shehnaz Sheikh was the chief guest.
Published 14 Dec, 2006 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 14 Dec, 2006 12:00am
Bangladesh Muslim League chief due on December 16

Bangladesh Muslim League chief due on December 16

Bangladesh Muslim League President Gowhar Ali Khan will arrive here on December 16 to participate in the international conference on All India Muslim League 1606-1947 arranged by the National Institute of Historical and Cultural Research.
Published 14 Dec, 2006 12:00am
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