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Print - 2007-04-18
Rs 50 million allocated for reclamation of land in Fata

Rs 50 million allocated for reclamation of land in Fata

The government has allocated Rs 50 million in the Annual Development Programme (ADP) for reclamation of 8,035 acres of land in Fata to give further impetus to agricultural production. Due to the efforts of the government, 23,774 acres of land had already
Published 18 Apr, 2007 12:00am
Rashid asked to produce contents of deal: PPP MNA

Rashid asked to produce contents of deal: PPP MNA

Pakistan Peoples Party on Tuesday refuted government's claims of striking a deal, saying it was not ready to sit in a 'sinking boat'. "We don't deny contacts with (President Musharraf) emissaries but we are saying categorically that we have not accepted a
Published 18 Apr, 2007 12:00am
Ashraf Hashmi remembered

Ashraf Hashmi remembered

The services of noted journalist Ashraf Hashmi (1938 -2007) was recalled at a memorial meeting held at the auditorium of Pakistan Academy of Letters here on Tuesday. The largely attended memorial meeting was arranged by literary organisation Daira.
Published 18 Apr, 2007 12:00am
Rs 118.5 million project for community awareness approved

Rs 118.5 million project for community awareness approved

The Ministry of Narcotics Control has approved the projects costing Rs 118.5 million to create awareness among public for ending drug menace. Sources told Business Recorder on Tuesday that the Ministry was committed to educate individuals, families
Published 18 Apr, 2007 12:00am
Energy fair from May 16

Energy fair from May 16

The 5th Pakistan Oil, Gas, Energy Exhibition and Conference (Pogee) will be held at the Karachi Expo Centre from May 16 to 19, 2007. Due to its strategic location, Pogee has now established itself as the ideal platform for the energy industry in the regio
Published 18 Apr, 2007 12:00am
National Assembly Secretariat not yet received summons for session

National Assembly Secretariat not yet received summons for session

Parliamentary Affairs Minister Sher Afgan exactly eight days back announced that the National Assembly would be meeting on April 23. This announcement was broadcast prominently by television channels and established in newspapers.
Published 18 Apr, 2007 12:00am
Amendments in rules to have a lasting effect: Senate body

Amendments in rules to have a lasting effect: Senate body

The Senate Committee on Rules of Procedure and Privileges has observed that the amendments in the Rules of Procedure and Conduct of Business in the Senate 1988 would give an effective voice to the representatives of the masses and make Senate more effecti
Published 18 Apr, 2007 12:00am
'Healthy activities being promoted among students'

'Healthy activities being promoted among students'

Federal Minister for Education Lieutenant General Javed Ashraf Qazi (retd) said on Tuesday that concrete steps were being taken to promote healthy activities among students for their balanced personality development. He was addressing the concluding cerem
Published 18 Apr, 2007 12:00am
'Government optimistic about talks on Jamia Hafsa issue'

'Government optimistic about talks on Jamia Hafsa issue'

Minister of State for Information and Broadcasting Tariq Azeem said the government is still optimistic that the talks on Jamia Hafsa issue will be successful. Talking to BBC Radio, he said, "there are male and female students over there. Talks are going o
Published 18 Apr, 2007 12:00am
National interest top priority: Saifullah

National interest top priority: Saifullah

Federal Minister for Inter-Provincial Coordination Salim Saifullah said on Tuesday that national interest was the top priority of the government and it would remain in touch with all political parties for the betterment of the country.
Published 18 Apr, 2007 12:00am
'Regional economic integration concept cannot be ignored'

'Regional economic integration concept cannot be ignored'

Regional economic integration is a concept that cannot be ignored by the South Asian economies in this era of globalisation. Given the importance of the South Asian Free Trade Agreement (Safta) and regional integration for the South Asian economies, a two
Published 18 Apr, 2007 12:00am
Sheikh Rashid may visit Iran on May 1

Sheikh Rashid may visit Iran on May 1

Federal Minister for Railways Sheikh Rashid Ahmed, on an invitation from the Iranian government, would likely to visit Iran on May 1. A high-level delegation will also accompany the minister.
Published 18 Apr, 2007 12:00am
Four brothers hanged for killing 13 of a family

Four brothers hanged for killing 13 of a family

Four brothers, Khuda Bakhsh, Muhammad Asghar, Muhammad Akram and Muhammad Iqbal were hanged in new Central Jail Multan on Tuesday morning. Jail Superintendent Mubashar Malik said," four brothers who were involved in killing 13 persons of a family were han
Published 18 Apr, 2007 12:00am
Supreme Court stays unseating of Punjab minister

Supreme Court stays unseating of Punjab minister

The Supreme Court on Tuesday issued stay order against the disqualification of Punjab Labour Minister Rana M Qasim Noon by suspending a judgement of Election Tribunal.
Published 18 Apr, 2007 12:00am
CJP, PBC and SCBA to jointly challenge reference

CJP, PBC and SCBA to jointly challenge reference

Non-functional Chief Justice Iftikhar Mohammad Chaudhry, the Pakistan Bar Council and the Supreme Court Bar Association have decided to challenge the validity of the Presidential Reference against CJ in the Supreme Court.
Published 18 Apr, 2007 12:00am
Seven hurt in Pasrur hospital blast

Seven hurt in Pasrur hospital blast

Seven people including three women received severe burn injuries in a blast in the storeroom of tehsil headquarter (THQ) hospital Pasrur near here on Tuesday morning.
Published 18 Apr, 2007 12:00am
Minister launches Sarah Express

Minister launches Sarah Express

Railway Minister Sheikh Rashid Ahmad has said that adequate efforts were being made for converting Pakistan Railway into a profitable organisation of the country.
Published 18 Apr, 2007 12:00am
Malaysia supplying oil palm seedlings for plantation in Sindh

Malaysia supplying oil palm seedlings for plantation in Sindh

Malaysia is supplying oil palm seedlings to Pakistan for plantation on 40,000-hectare land in Sindh, local press reported on Tuesday. Plantation Industries and Commodities Minister Peter Chin Fah Kui has said he is going to Karachi to meet the Sindh gover
Published 18 Apr, 2007 12:00am
246 troops depart for Liberia

246 troops depart for Liberia

Another batch of 246 Pakistani troops departed here on Tuesday to serve under the United Nations in Liberia as peacekeeping force. Pakistan is the single largest contributor of troops in the United Nations peacekeeping mission and is of great repute of be
Published 18 Apr, 2007 12:00am
The Weather

The Weather

The weather report on Tuesday (April 17, 2007) and the forecast for Wednesday (April 18, 2007).
Published 18 Apr, 2007 12:00am
UNESCAP survey report launching today

UNESCAP survey report launching today

The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) will launch its flagship publication "Economic and Social Survey of Asia and Pacific-2007" here at UN Information Centre (UNIC) on Wednesday (today) at 2.30pm.
Published 18 Apr, 2007 12:00am
New York cotton

New York cotton

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

Published 18 Apr, 2007 12:00am
New York cotton

New York cotton

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

Published 18 Apr, 2007 12:00am
Developing states must implement commitments to help Third World: Munir

Developing states must implement commitments to help Third World: Munir

Developing countries have shown sincerity to pursue millennium development goals but there is a need for stepped up implementation of commitments made by development partners in areas including assistance, finance, trade and transfer of technology for ach
Published 18 Apr, 2007 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 18 Apr, 2007 12:00am
'IJT disrupts Pharmacy College festival'

'IJT disrupts Pharmacy College festival'

Students, teachers and other staff of the College of Pharmacy Punjab University have demanded the Governor Punjab to take an immediate and stern action against the activists of Islami Jamiat Talba, who disrupted the festival organised by PU Pharmacy Colle
Published 18 Apr, 2007 12:00am
Wapda chief reviews power wing performance

Wapda chief reviews power wing performance

Chairman, Wapda has appreciated that most of the Distribution Companies of Wapda have recovered their dues as per their target for the first eight months of the financial year 2006-07.
Published 18 Apr, 2007 12:00am
New Australian coffee enters market

New Australian coffee enters market

The High Commissioner of Australia to Pakistan, Zorica McCarthy, has said that Pakistan has great potential for foreign investment, adding most of the Pakistanis are moderate and tolerant that is why Australians are investing in Pakistan.
Published 18 Apr, 2007 12:00am
Phata directed to submit comprehensive action plan

Phata directed to submit comprehensive action plan

Provincial Minister for Housing and Urban Development, Syed Raza Ali Gillani has directed the Punjab Housing and Town Planning Agency (Phata) to submit a comprehensive action plan to declare 10 kilometre area adjacent to big cities as "controlled area."
Published 18 Apr, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (April 17, 2007).

Published 18 Apr, 2007 12:00am
Lamy assures Islamabad of level playing field

Lamy assures Islamabad of level playing field

The Director General WTO Pascal Lamy has assured that Pakistan would be provided with a level playing field in marketing its agriculture products in the developed world. The World Trade Organisation Director General was speaking at the Lahore Chamber of C
Published 18 Apr, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (April 17, 2007) and for Wednesday (April 18, 2007).
Published 18 Apr, 2007 12:00am
IGP asked to replace all DSPs deputed at highway posts

IGP asked to replace all DSPs deputed at highway posts

Punjab Chief Minister, Chaudhry Pervaiz Elahi has directed Inspector-General Police (IGP) Punjab to transfer all DSPs deputed at high way patrolling posts and replace them with honest and dutiful officers recruited for this purpose.
Published 18 Apr, 2007 12:00am
Sudan wants to boost bilateral trade

Sudan wants to boost bilateral trade

The leader of ten-member Sudanese trade delegation, Hisham SalehEldin Shazali Ahmed has said that the purpose of their visit is to boost two-way trade and invited Pakistani investors to Sudan. Addressing members of Karachi Chamber of Commerce and Industry
Published 18 Apr, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (April 17, 2007).

Published 18 Apr, 2007 12:00am
Airblue to launch 'eCargo' to UK from June

Airblue to launch 'eCargo' to UK from June

Private sector airline, Airblue, is expanding its services to the United Kingdom from June 1. This was announced here on Tuesday at the launch of eCargo service, first of its kind in the country, to cater to the air freight market of Pakistan, UAE, and UK
Published 18 Apr, 2007 12:00am
Sindh cabinet approves Bill to amend sugar industry law

Sindh cabinet approves Bill to amend sugar industry law

The Sindh Cabinet on Tuesday decided to move a bill to amend the Sugar Factories Control Act-1950 to establish a seven-member board to systematise sugar production, enforce restrictions on cultivation of certain varieties of sugarcane, regulate sale and p
Published 18 Apr, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (April 17, 2007).

Published 18 Apr, 2007 12:00am
Sindh cabinet approves Bill to amend sugar industry law

Sindh cabinet approves Bill to amend sugar industry law

The Sindh Cabinet on Tuesday decided to move a bill to amend the Sugar Factories Control Act-1950 to establish a seven-member board to systematise sugar production, enforce restrictions on cultivation of certain varieties of sugarcane, regulate sale and p
Published 18 Apr, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (April 17, 2007).

Published 18 Apr, 2007 12:00am
Local-Japanese firms' joint venture in steel plant signed

Local-Japanese firms' joint venture in steel plant signed

A joint venture agreement was signed between Japanese and Pakistani companies to set up Aisha Steel Mills Limited, the largest steel plant of its kind in Pakistan to produce value added cold rolled coils/sheets for engineering and automobile sectors. The
Published 18 Apr, 2007 12:00am
NRL earns Rs 1277.731 million after-tax profit in January-March

NRL earns Rs 1277.731 million after-tax profit in January-March

The National Refinery Limited (NRL) has earned Rs 1277.731 million as profit after tax translating into earning per share of Rs 19.17 in the quarter ended on March 31, 2007 as compared to Rs 217.425 million earned in the same period in 2006.
Published 18 Apr, 2007 12:00am
NRL earns Rs 1277.731 million after-tax profit in January-March

NRL earns Rs 1277.731 million after-tax profit in January-March

The National Refinery Limited (NRL) has earned Rs 1277.731 million as profit after tax translating into earning per share of Rs 19.17 in the quarter ended on March 31, 2007 as compared to Rs 217.425 million earned in the same period in 2006.
Published 18 Apr, 2007 12:00am
THE RUPEE: modest fall versus dollar

THE RUPEE: modest fall versus dollar

Bearish sentiment was seen in the interbank market on Tuesday as the rupee drifted lower against dollar, losing four paisa for buying at Rs 60.70 and also lost three paisa for selling at Rs 60.68, respectively. At the end of final quarter of the current f
Published 18 Apr, 2007 12:00am
Exports to Georgia likely to increase: TDAP

Exports to Georgia likely to increase: TDAP

Pakistani business houses can boost their exports to Georgia where 90 percent of the country's imports are exempted from custom duty. Georgia, which enjoys European Union's GSP Plus facility, is also the beneficiary of preferential trade regimes of USA, J
Published 18 Apr, 2007 12:00am
THE RUPEE: modest fall versus dollar

THE RUPEE: modest fall versus dollar

Bearish sentiment was seen in the interbank market on Tuesday as the rupee drifted lower against dollar, losing four paisa for buying at Rs 60.70 and also lost three paisa for selling at Rs 60.68, respectively. At the end of final quarter of the current f
Published 18 Apr, 2007 12:00am
Lawyers continue protest against CJ's suspension

Lawyers continue protest against CJ's suspension

Lawyers fraternity continued its protest against the suspension of the Chief Justice of the Supreme Court, Justice Iftikhar Mohammad Chaudhry, and boycotted court proceedings for one hour from 10:30 am to 11:30 am on Tuesday.
Published 18 Apr, 2007 12:00am
Cairns Group vows to complete Doha process

Cairns Group vows to complete Doha process

The delegates participating in the 31st Cairns Group Ministerial Meeting vowed to complete the ongoing process of Doha Development Round by the end of this year as the representatives from US, European Union and Japan stressed the need for completion of D
Published 18 Apr, 2007 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Tuesday (April 17, 2007).

Published 18 Apr, 2007 12:00am
Pacra maintains entity ratings of Jahangir Siddiqui

Pacra maintains entity ratings of Jahangir Siddiqui

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term entity ratings of Jahangir Siddiqui & Co Ltd at "AA+" (Double A plus) and "A1+" (A one plus), respectively.
Published 18 Apr, 2007 12:00am
Pacra maintains entity ratings of Jahangir Siddiqui

Pacra maintains entity ratings of Jahangir Siddiqui

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term entity ratings of Jahangir Siddiqui & Co Ltd at "AA+" (Double A plus) and "A1+" (A one plus), respectively.
Published 18 Apr, 2007 12:00am
Karachiites facing severe power outages

Karachiites facing severe power outages

The power demand of country's economic engine touched 2200 mega watt (MW) on the start of summer season that compelled the city to remained electricity deficient which looms between 120 to 150 MW on Tuesday.
Published 18 Apr, 2007 12:00am
Early production of disappeared people demanded

Early production of disappeared people demanded

Lawyers, representatives of civil society organisations, citizens and relatives of disappeared persons on Tuesday staged a 'candle light' protest in front of Supreme Court of Pakistan, expressing solidarity and sympathy with the dysfunctional Chief Justic
Published 18 Apr, 2007 12:00am
HEC invites scholarship applications

HEC invites scholarship applications

The Higher Education Commission (HEC) has invited applications from outstanding Pakistani/AJK nationals for the award of scholarships during (2007-08) for higher studies in selected fields.
Published 18 Apr, 2007 12:00am
Launching ceremony of education strategy on April 19

Launching ceremony of education strategy on April 19

The Ministry of Education is organising a ceremony to launch the first-ever 'National Information and Communication Strategy for Education in Pakistan' on Thursday at 10:30am at the Academy for Educational Planning and Management (AEPAM), Islamabad.
Published 18 Apr, 2007 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Tuesday (April 17, 2007).

Published 18 Apr, 2007 12:00am
Pakistan haven for indigenous, foreign investments: Soomro

Pakistan haven for indigenous, foreign investments: Soomro

Pakistan is a haven for indigenous as well as foreign investments, Chairman Senate Mohammadmian Soomro told a team of businesspersons from Oman, who called on him at the Parliament House on Tuesday. A ten-member Omani business team is currently visiting P
Published 18 Apr, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 18 Apr, 2007 12:00am
Shaukat wants CDB to invest more in Pakistan

Shaukat wants CDB to invest more in Pakistan

Prime Minister Shaukat Aziz said on Tuesday that Pakistan was keen to see more investment from the China Development Bank (CDB) into infrastructure development, energy, banking, dams and agro industry for the mutual benefit of the two countries.
Published 18 Apr, 2007 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 18 Apr, 2007 12:00am
Textile industry demands 10 percent increase in R&D subsidy

Textile industry demands 10 percent increase in R&D subsidy

The government should increase research and development (R&D) subsidy for textile from six to ten percent for at least two years, otherwise survival of the textile industry seems difficult, Dr Shahzad Arshad, chairman of Pakistan Cotton Fashion Apparel Ma
Published 18 Apr, 2007 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 18 Apr, 2007 12:00am
Supreme Court declares Mehdi Abbas successful candidate

Supreme Court declares Mehdi Abbas successful candidate

The Supreme Court of Pakistan has suspended the orders of election tribunal that had declared election of Minister for Manpower, Rana Qasim Noon as void announced Mehdi Abbas Khan as successful candidate.
Published 18 Apr, 2007 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Tuesday (April 17, 2007).

Published 18 Apr, 2007 12:00am
Corrigendum

Corrigendum

The word ''inaccurately'' appeared as ''accurately'' in the "PPIB clarification", published in Business Recorder on April 17, due to a typographical error. The correct paragraph should have been read as.
Published 18 Apr, 2007 12:00am
Corrigendum

Corrigendum

The word 'inaccurately' appeared as 'accurately' in the "PPIB clarification", published in Business Recorder on April 17, due to a typographical error. The correct paragraph should have been read as.
Published 18 Apr, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 18 Apr, 2007 12:00am
Corrigendum

Corrigendum

The word 'inaccurately' appeared as 'accurately' in the "PPIB clarification", published in Business Recorder on April 17, due to a typographical error. The correct paragraph should have been read as.
Published 18 Apr, 2007 12:00am
Government contacting Nawaz, says Ijaz

Government contacting Nawaz, says Ijaz

Federal Minister for Religious Affairs Ijazul Haq has revealed government contacts with exiled Pakistan Muslim League (Nawaz) leaders Mian Nawaz Sharif and Shahbaz Sharif at all levels which are same in nature being established with Benazir Bhutto.
Published 18 Apr, 2007 12:00am
Deal with PPP to bolster institutions: Rao Sikandar

Deal with PPP to bolster institutions: Rao Sikandar

Federal Minister for Defence Rao Sikandar Iqbal has admitted that a deal was underway between the government and the Pakistan People's Party and he played an important role in materialising it. "All my colleagues and I were in favour of the deal as it wou
Published 18 Apr, 2007 12:00am
Durrani for consensus on vital national issues

Durrani for consensus on vital national issues

Minister for Information and Broadcasting Muhammad Ali Durrani has said the main objective of contacts with moderate political forces is to develop consensus on vital national issues and ensure free and fair elections in the country.
Published 18 Apr, 2007 12:00am
President summons National Assembly session on April 23

President summons National Assembly session on April 23

President Pervez Musharraf has summoned the 40th session of National Assembly on April 23 at 5 pm, says an official announcement. Parliamentary sources told APP the session is going to be very hectic "in view of some important developments" that have take
Published 18 Apr, 2007 12:00am
CBR offers help to provinces to improve farm tax ratio

CBR offers help to provinces to improve farm tax ratio

In order to improve tax ratio in the agriculture sector, the Central Board of Revenue (CBR) has offered assistance to provinces. CBR Member (Audit) Abdul Razzak stated this at pre-budget seminar, organised by the Income Tax Bar Association (ITBA) here on
Published 18 Apr, 2007 12:00am
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