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Print - 2008-06-12
Lawyers begin cross-country rally

Lawyers begin cross-country rally

Hundreds of lawyers and political activists began a cross-country rally on Wednesday to press the new government to restore deposed judges President Pervez Musharraf fired. Lawyers have been at the forefront of a campaign against staunch US ally Musharraf
Published 12 Jun, 2008 12:00am
Political leaders, bar members welcome Iftikhar Chaudhry

Political leaders, bar members welcome Iftikhar Chaudhry

Deposed Chief Justice Iftikhar Muhammad Chaudhry was received warmly by political leaders, workers human rights activists and senior bar members on his arrival at Allama Iqbal Airport here on Wednesday.
Published 12 Jun, 2008 12:00am
Allied Bank, ICIL sign agreement

Allied Bank, ICIL sign agreement

Allied Bank has signed an agreement with International Credit Information (Pvt) Ltd (ICIL) for document collection services from master card holders and address verification services from new applicants of its visa card.
Published 12 Jun, 2008 12:00am
Zardari to chair meeting at chief minister House today

Zardari to chair meeting at chief minister House today

Co-chairman, Pakistan Peoples Party, Senator Asif Ali Zardari will chair an important meeting at Sindh Chief Minister House on June 12, at 11am. The meeting will review the performance of the Government of Sindh, said an announcement issued here on Wednes
Published 12 Jun, 2008 12:00am
Tax dues of Jamia Binoria waived

Tax dues of Jamia Binoria waived

Provincial Minister for Industries and Commerce, Rauf Siddiqi on Wednesday announced to waive outstanding tax dues against Binoria Town, SITE area, and also decided to donate his one month salary for the construction of its hospital. He said this while la
Published 12 Jun, 2008 12:00am
Economists dub budget speech 'vague' discourse

Economists dub budget speech 'vague' discourse

Leading economists on Wednesday termed Finance Ministers' budget speech as "vague" discourse that still required explanations and expressed apprehensions that the advantages of the budget may not reach the poor.
Published 12 Jun, 2008 12:00am
Sales tax relief on locally manufactured medical equipment hailed

Sales tax relief on locally manufactured medical equipment hailed

Representatives of various social sector organisations on Wednesday hailed the government's proposal of exemption of sales tax on local supply of locally manufactured medical equipment, regeants and disposables to government and 50-bed charity hospitals.
Published 12 Jun, 2008 12:00am
Double sales tax audit in a year criticised

Double sales tax audit in a year criticised

The Federal Board of Revenue (FBR) has empowered the sales tax department to conduct sales tax audit in cases where Directorate of Revenue Receipt Audit (DRRA) has already completed audit in the same tax period, resulting in double audit in one year.
Published 12 Jun, 2008 12:00am
Rs 300.9 billion project grants to come from external sources

Rs 300.9 billion project grants to come from external sources

Pakistan is expected to receive Rs 300.91 billion loans and grants for development projects from foreign resources for the next fiscal year, (2008-09), which would be 8.14 percent more than Rs 277.775 of the outgoing fiscal year.
Published 12 Jun, 2008 12:00am
Rs 300.9 billion project grants to come from external sources

Rs 300.9 billion project grants to come from external sources

Pakistan is expected to receive Rs 300.91 billion loans and grants for development projects from foreign resources for the next fiscal year, (2008-09), which would be 8.14 percent more than Rs 277.775 of the outgoing fiscal year.
Published 12 Jun, 2008 12:00am
Tax experts term budget satisfactory

Tax experts term budget satisfactory

Tax experts have termed the Federal Budget for fiscal year 2008-09 as satisfactory and based on the state of the country's economy. Talking to Business Recorder on Wednesday after the budget speech, the Income Tax Bar Association (ITBA) Karachi, Pr
Published 12 Jun, 2008 12:00am
Rs 25.1 billion expected from privatisation

Rs 25.1 billion expected from privatisation

The privatisation process turned out to be futile exercise as none of the major public sector's entities could be offered for sell-off in the outgoing fiscal year. The privatisation proceeds' share in inflows remained only Rs 1.65 billion in 2007-08 again
Published 12 Jun, 2008 12:00am
Opposition rejects budget as anti-poor

Opposition rejects budget as anti-poor

Pakistan Muslim League-Q while rejecting the annual budget 2008-09 said that it did not contain any kind of relief for poor and underprivileged group. Opposition leader in the National Assembly Chaudhry Pervaiz Elahi said that the budget was disappointing
Published 12 Jun, 2008 12:00am
Rs 19.9 billion allocated for health sector

Rs 19.9 billion allocated for health sector

The government has announced allocation of Rs 19.9 billion in the budget 2008-09 for the health sector, which is Rs 2.2 billion more than 2007-08 allocation. Total outlay set aside for Health Division is Rs 18.1 billion.
Published 12 Jun, 2008 12:00am
Rs 19.9 billion allocated for health sector

Rs 19.9 billion allocated for health sector

The government has announced allocation of Rs 19.9 billion in the budget 2008-09 for the health sector, which is Rs 2.2 billion more than 2007-08 allocation. Total outlay set aside for Health Division is Rs 18.1 billion.
Published 12 Jun, 2008 12:00am
Analysts term budget balanced

Analysts term budget balanced

Leading analysts termed the budget 'a balanced and investors friendly', saying that exemption on capital gains tax on listed shares for further two years and keeping the existing tax regime at share market unchanged will increase trading activity at the s
Published 12 Jun, 2008 12:00am
Indo-Pak art exhibition opens at London

Indo-Pak art exhibition opens at London

A five-day exhibition of grand art from India and Pakistan titled "Across Boundaries-a Collage" opened at a Central London hotel on Tuesday evening which attracted a large number of connoisseurs of art. On display were the most select works of some of sub
Published 12 Jun, 2008 12:00am
Call for promoting message of tolerance and love

Call for promoting message of tolerance and love

Sufi saints spread Islam in the sub-continent through their teachings of tolerance and love and gave a message of equality and brotherhood besides promotions of religious tolerance and social forbearance. Punjab Minister for Population Welfare, Ms Neelam
Published 12 Jun, 2008 12:00am
PDDC, UAF sign MoU for livestock development

PDDC, UAF sign MoU for livestock development

Pakistan Dairy Development Company (PDDC) and University of Agriculture, Faisalabad (UAF) have signed MoU for livestock development in Pakistan. The MoU signing ceremony was held at National Institute of Food Science and Technology.
Published 12 Jun, 2008 12:00am
Rescue 1122, hospitals ordered to be alert

Rescue 1122, hospitals ordered to be alert

Rescue 1122 and government hospitals in the Punjab capital, Lahore, were ordered to be high alert in view of lawyers long march which reached Lahore on Wednesday. Sources said the provincial government had asked the hospitals management to ensure availabi
Published 12 Jun, 2008 12:00am
AIDM students shine again at Karachi university exams

AIDM students shine again at Karachi university exams

In the recently held University of Karachi Annual Examination for Third Professional BDS, The students of Altamash Institute of Dental Medicine lived up to the high academic reputation of their Alma Mater and performed extremely well by securing the top t
Published 12 Jun, 2008 12:00am
Japan, Saarc members to cooperate on energy crisis

Japan, Saarc members to cooperate on energy crisis

Japan and Saarc member states have decided to make sincere efforts to promote public awareness on the need for regional energy cooperation, energy conservation and find ways to improve energy efficiency taking the advantage of technical help and assistanc
Published 12 Jun, 2008 12:00am
Islamic University, Maldivan institution sign MoU

Islamic University, Maldivan institution sign MoU

The Islamic University on Wednesday signed a Memorandum of Understanding with the Maldives College for Higher Education for academic co-operation between the faculties of Shariah & law of the two institutions in teaching Shariah and Islamic laws.
Published 12 Jun, 2008 12:00am
Owais and Hoti slam coalition forces attack

Owais and Hoti slam coalition forces attack

NWFP Governor Owais Ahmed Ghani and Chief Minister Amir Haider Khan Hoti have strongly condemned the unprovoked attack by the coalition forces on the border security posts in Pakistan's territory of Mohmand Agency, describing it as 'a naked aggression' ag
Published 12 Jun, 2008 12:00am
Number of price magistrates to be increased

Number of price magistrates to be increased

The number of price magistrates would be increased and the relevant laws would be amended for bringing stability in the prices of essential items. This was stated by Chairman Chief Minister's Task Force on Essential Items and Administrator Food Stamp Sche
Published 12 Jun, 2008 12:00am
Conference on impact of global violence from June 27

Conference on impact of global violence from June 27

Punjab University Centre for Clinical Psychology will organise a 2-day International Conference on 'Impact of Global Violence on Mental Health: A Challenge for Mental Health Professionals' on June 27 and 28.
Published 12 Jun, 2008 12:00am
Justice Ijaz resigns from PPSC

Justice Ijaz resigns from PPSC

Member Punjab Public Service Commission Justice Ijaz Ahmed Chaudhry has resigned from the commission. Justice Ijaz was 'deposed' under November-3 PCO. In his resignation, Justice Ijaz stated that the government by releasing his salary w.e.f November 3, 20
Published 12 Jun, 2008 12:00am
Riaz for installing gauges at all canals

Riaz for installing gauges at all canals

Complaint Cell of Irrigation and Power (I&P) Department has disposed of 1478 complaints out of the total 4761 complaints received by May 31st from farmers and other stakeholders. The cell also resolved 4330 other complaints within the stipulated period of
Published 12 Jun, 2008 12:00am
Wasa managing director inspects areas

Wasa managing director inspects areas

Managing Director, Water and Sanitation Agency (Wasa), Dr Javed Iqabal, visited various sub-divisions of the Agency and inspected steps being taken for redressing public complaints regarding water supply and sanitation, disclosed a LDA's spokesman here on
Published 12 Jun, 2008 12:00am
Water availability for Kharif crop improves

Water availability for Kharif crop improves

With scattered rains in various parts of the country and increased inflow of water in the four main rivers during the past week, water availability for sowing of rice and cotton crops have improved.
Published 12 Jun, 2008 12:00am
LDA demolishes illegal structures

LDA demolishes illegal structures

The staff of Lahore Development Authority (LDA) carried out a clean up operation at commercial centre, Karim Block, Allama Iqbal Town, here on Wednesday. As many as 16 concrete 'tharas' and other structures were demolished for facilitating the customers.
Published 12 Jun, 2008 12:00am
The Weather

The Weather

The weather report on Wednesday (June 11, 2008) and the forecast for Thursday (June 12, 2008).
Published 12 Jun, 2008 12:00am
Farmer bodies term subsidy on DAP insufficient

Farmer bodies term subsidy on DAP insufficient

Farmers organisations have welcomed the government decision to abolish sales tax on fertilisers and pesticides in the proposed budget for the year 2008-09 but termed the subsidy insufficient enhanced on DAP fertilisers.
Published 12 Jun, 2008 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 12 Jun, 2008 12:00am
APO and NPO teams visit Aptma

APO and NPO teams visit Aptma

Secretary General, Asian Productivity Organisation (APO), Shigeo Takenaka, and Chief Executive Officer (CEO), National Productivity Organisation (NPO), Tariq Bajwa visited All Pakistan Textile Mills Association (Aptma) office here on Wednesday.
Published 12 Jun, 2008 12:00am
Pilot dies in PAF aircraft crash

Pilot dies in PAF aircraft crash

A Pakistan Air Force (PAF) trainer aircraft crashed near Mardan on Wednesday, killing its pilot, the PAF said. "Pakistan Air Force announces with great sorrow and grief that a T-37 Trainer Jet aircraft, crashed near Mardan. The pilot of the aircraft, Pilo
Published 12 Jun, 2008 12:00am
Tamgha-i-Imtiaz (military) awarded

Tamgha-i-Imtiaz (military) awarded

An investiture ceremony was held at GHQ auditorium to confer Tamgha-i-Imtiaz (Military) on Army officers. Lieutenant General Nadeem Ahmad, Corps Commander Mangla, was the chief guest.
Published 12 Jun, 2008 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 (June 11, 2008).
Published 12 Jun, 2008 12:00am
ICAP to organise post budget seminar

ICAP to organise post budget seminar

Southern Regional Committee of the Institute of Chartered Accountants of Pakistan (ICAP) organising a post budget seminar, to be held on June 19, at a local hotel. Asrar Rauf, Director General, Regional Tax Office Karachi will be the Session Chairman of t
Published 12 Jun, 2008 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, (June 12, 2008).
Published 12 Jun, 2008 12:00am
ICAP to organise post budget seminar

ICAP to organise post budget seminar

Southern Regional Committee of the Institute of Chartered Accountants of Pakistan (ICAP) organising a post budget seminar, to be held on June 19, at a local hotel. Asrar Rauf, Director General, Regional Tax Office Karachi will be the Session Chairman of t
Published 12 Jun, 2008 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, (June 12, 2008).
Published 12 Jun, 2008 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, (June 12, 2008).
Published 12 Jun, 2008 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (June 11, 2008).
Published 12 Jun, 2008 12:00am
'Only Pakistani forces to take action against terrorists'

'Only Pakistani forces to take action against terrorists'

Pakistan has said only its forces will take action against any terrorist elements on its side of the Afghan border with its top diplomat in Washington defending the new anti-terrorism approach in tribal areas as being different from previous attempts.
Published 12 Jun, 2008 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Wednesday (June 11, 2008) and for Thursday (June 12, 2008).
Published 12 Jun, 2008 12:00am
Britain concerned over 'terrorist' activities in Fata

Britain concerned over 'terrorist' activities in Fata

British High Commissioner Robert Brinkley on Wednesday expressed concerns over the activities of "al Qaeda" in the tribal region, saying they are not only damaging Pakistan and Afghanistan but the whole world. Talking to media here along with British Amba
Published 12 Jun, 2008 12:00am
Boucher sees no talks with terrorists on tribal areas

Boucher sees no talks with terrorists on tribal areas

Reaffirming Washington's co-operation in economic development of tribal areas, a senior US official has noted the Pakistani government appears to be heading for anti-terror strategy that aims at engaging the tribesmen, but involves no negotiations with te
Published 12 Jun, 2008 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (June 11, 2008).
Published 12 Jun, 2008 12:00am
Lahore Rapid Mass Transit project advisor to cost $7.5 million

Lahore Rapid Mass Transit project advisor to cost $7.5 million

The cost of Preparing the Lahore Rapid Mass Transit System Project, to finance the recruitment of transaction advisor, is estimated at $7.5 million equivalent, including foreign exchange component of $6.0 million and local currency costs of $1.5 million e
Published 12 Jun, 2008 12:00am
Shahbaz visits Dera Ghazi Khan today

Shahbaz visits Dera Ghazi Khan today

Punjab Chief Minister Mian Muhammad Shahbaz Sharif will arrive here on a daylong visit on Thursday, June 12. Pakistan Muslim League-N (PML-N) Punjab president Sardar Zulfiqar Khosa, provincial minister for local government Dost Muhammad Khosa, MNA Saifudd
Published 12 Jun, 2008 12:00am
Punjab government to restore funds

Punjab government to restore funds

Punjab government has decided to restore the frozen funds and grants of the district government, and directives in this regard have been issued to the Finance Department. MNA Jamsheed Dasti met with Chief Secretary Javed Mehmood who had assured that devel
Published 12 Jun, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (June 11, 2008).
Published 12 Jun, 2008 12:00am
PAL holds condolence meeting for Russian writers

PAL holds condolence meeting for Russian writers

Pakistan Academy of Letters held a meeting at its premises on Wednesday to condole the death of two eminent Russian writers Ghinghis Aitmatov and Rimma Kazakova. Chinghis Aitmatov is regarded as trend setting fiction writer, while Ms Rimma Kazakova was a
Published 12 Jun, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (June 11, 2008).
Published 12 Jun, 2008 12:00am
Pakistan faces serious corruption challenges in near future

Pakistan faces serious corruption challenges in near future

As diverse sectors of Pakistani society unite to demand restoration of pre-November 3, 2007 judiciary across the country and have started a long march, Transparency International Pakistan lends its support and voice to the demands for the restoration of p
Published 12 Jun, 2008 12:00am
Girls school torched in upper Dir

Girls school torched in upper Dir

Unknown miscreants on early Wednesday torched government girls high school Wari in Upper Dir district however, no casualty was reported. District Police Official said unknown outlaws first sprinkled oil on the building and later set it on fire. Resultantl
Published 12 Jun, 2008 12:00am
THE RUPEE: 30 paisa gain on interbank market

THE RUPEE: 30 paisa gain on interbank market

Before the announcement of federal budget for 2008-09, the rupee held its overnight firmness against dollar on the interbank market on Wednesday, rising 30 paisa for buying and selling at 67.30 and 67.40, money experts said. Easy supply of dollars helped
Published 12 Jun, 2008 12:00am
Militants hang woman 'spy'

Militants hang woman 'spy'

Militants in a remote tribal region bordering Afghanistan on Wednesday carried out their first reprisal killing of a woman, accusing the victim of being a spy, an official said.
Published 12 Jun, 2008 12:00am
THE RUPEE: 30 paisa gain on interbank market

THE RUPEE: 30 paisa gain on interbank market

Before the announcement of federal budget for 2008-09, the rupee held its overnight firmness against dollar on the interbank market on Wednesday, rising 30 paisa for buying and selling at 67.30 and 67.40, money experts said. Easy supply of dollars helped
Published 12 Jun, 2008 12:00am
Thunderstorm, rain forecast in Punjab, Northern Areas, Kashmir

Thunderstorm, rain forecast in Punjab, Northern Areas, Kashmir

Meteorological Department forecast scattered dust and thunderstorm with rain in eastern Punjab including Islamabad during next 48 hours. According to meteorological analysis, a well-marked low-pressure area lying over North Arabian Sea is weakening rapidl
Published 12 Jun, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Wednesday (June 11, 2008).
Published 12 Jun, 2008 12:00am
UK visa centres closed

UK visa centres closed

Britain has closed down its visa application centres in Pakistan and Azad Kashmir due to security concerns, an embassy statement said. "The Visa Application Centres (Islamabad, Karachi, Lahore & Mirpur will be temporarily closed until further notice due t
Published 12 Jun, 2008 12:00am
UK visa centres closed

UK visa centres closed

Britain has closed down its visa application centres in Pakistan and Azad Kashmir due to security concerns, an embassy statement said. "The Visa Application Centres (Islamabad, Karachi, Lahore & Mirpur will be temporarily closed until further notice due t
Published 12 Jun, 2008 12:00am
Oil and power subsidies reduced

Oil and power subsidies reduced

The government has reduced the volume of subsidies by 27.5 percent, to Rs 295. 204 billion, in 2008-09, against the revised allocation of Rs 407.485 billion for the outgoing fiscal year.
Published 12 Jun, 2008 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 12 Jun, 2008 12:00am
Oil and power subsidies reduced

Oil and power subsidies reduced

The government has reduced the volume of subsidies by 27.5 percent, to Rs 295. 204 billion, in 2008-09, against the revised allocation of Rs 407.485 billion for the outgoing fiscal year.
Published 12 Jun, 2008 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Wednesday (June 11, 2008).
Published 12 Jun, 2008 12:00am
Oil and power subsidies reduced

Oil and power subsidies reduced

The government has reduced the volume of subsidies by 27.5 percent, to Rs 295. 204 billion, in 2008-09, against the revised allocation of Rs 407.485 billion for the outgoing fiscal year.
Published 12 Jun, 2008 12:00am
Oil and power subsidies reduced

Oil and power subsidies reduced

The government has reduced the volume of subsidies by 27.5 percent, to Rs 295. 204 billion, in 2008-09, against the revised allocation of Rs 407.485 billion for the outgoing fiscal year.
Published 12 Jun, 2008 12:00am
Rs 26.7 billion for public order and safety affairs

Rs 26.7 billion for public order and safety affairs

The government has allocated Rs 26.7 billion in budget 2008-09 for public order and safety affairs with an increase of 2.54 percent over Rs 26.10 billion for outgoing fiscal year for the deteriorating law and order situation in the country.
Published 12 Jun, 2008 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.
Published 12 Jun, 2008 12:00am
Rs 26.7 billion for public order and safety affairs

Rs 26.7 billion for public order and safety affairs

The government has allocated Rs 26.7 billion in budget 2008-09 for public order and safety affairs with an increase of 2.54 percent over Rs 26.10 billion for outgoing fiscal year for the deteriorating law and order situation in the country.
Published 12 Jun, 2008 12:00am
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