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May 14, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-06-17
NCEL appoints BMA Capital its financial advisor

NCEL appoints BMA Capital its financial advisor

The National Commodity Exchange Limited (NCEL), the first technology driven, demutualised, on-line futures exchange in Pakistan, has appointed BMA Capital Management Limited as its financial advisor for the private placement of its shares.
Published 17 Jun, 2008 12:00am
Government committed to restoring judges, Naek tells ICG team

Government committed to restoring judges, Naek tells ICG team

Federal Law Minister Farooq H. Naek said on Monday that the government is committed to restoring the deposed judges and has already taken significant steps in this regard. He stated this while talking to a three-member delegation of the International Cris
Published 17 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 17 Jun, 2008 12:00am
Drugs and medicines: PCDA criticises withdrawal of ST exemption

Drugs and medicines: PCDA criticises withdrawal of ST exemption

The Pakistan Chemists and Druggist Association's (PCDA) R&D Sub Committee Chairman, Dr Mushtaq Noorwala has said that the withdrawal of sales tax exemption on drugs and medicines would result in increase in the cost of medicines by 16 percent.
Published 17 Jun, 2008 12:00am
The Weather

The Weather

The weather report on Monday (June 16, 2008) and the forecast for Tuesday (June 17, 2008).
Published 17 Jun, 2008 12:00am
Moody's report on Pakistan investment clime

Moody's report on Pakistan investment clime

Moody's Report on Friday, June 13, on Pakistan's chances to attract or retain foreign investments being dim, comes as no surprise. The conditions here hardly evoke confidence in the government's ability to control events that are externally generated, by
Published 17 Jun, 2008 12:00am
Four mobile snatchers held

Four mobile snatchers held

The Special Investigating Unit (SIU) has claimed having arrested four mobile snatchers and recovered weapons, mobile phones and other valuables from their possession. This was stated by Hasan Dal SSP SIU at a press conference, held at SIU office here on S
Published 17 Jun, 2008 12:00am
'Ban on 50 housing projects not revoked'

'Ban on 50 housing projects not revoked'

Residents of 5,000 residential units in 50 different housing projects of Karachi are waiting for lifting of ban on sale, lease and sub-lease of their apartments/flats for the last seven years.
Published 17 Jun, 2008 12:00am
Turkish businessmen invited to invest in Pakistan

Turkish businessmen invited to invest in Pakistan

A ten member delegation of Karachi Chamber of Commerce and Industry (KCCI) was warmly welcomed by the MUSIAD, the Independent Industrialists and Businessmen's Association of Turkey, Istanbul Chamber of Commerce and Istanbul Chamber of Industry on Monday a
Published 17 Jun, 2008 12:00am
'Meezan Tijarah' launched

'Meezan Tijarah' launched

Meezan Bank Limited, Pakistan's first and largest Islamic Bank has launched a new finished goods Islamic financing facility called "Meezan Tijarah". The facility is available to SME/commercial/corporate customers seeking Shariah compliant working capital
Published 17 Jun, 2008 12:00am
Substandard vaccines menace vexes poultry farmers

Substandard vaccines menace vexes poultry farmers

The rapidly spreading menace of counterfeit, sub-standard and unregistered vaccines is rising risks to poultry industry and could lead to incurable diseases across the country.
Published 17 Jun, 2008 12:00am
'Pak-Turkey trade statistics do not reflect existing potential'

'Pak-Turkey trade statistics do not reflect existing potential'

Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Ijaz Abbasi has said that Pakistan is proud of deep brotherly relations with Turkey rooted in history. He, however, lamented that the trade statistics do not reflect the existing potenti
Published 17 Jun, 2008 12:00am
Two more ministers inducted in Sindh Cabinet

Two more ministers inducted in Sindh Cabinet

Two more ministers took oath on Monday as members of Sindh Cabinet. Syed Sardar Ahmed from Muttahida Qaumi Movement (MQM) and Muzaffar Ali Shajrah belonging to Pakistan Peoples Party (PPP) took oath as new Sindh Ministers. Sindh Governor Dr Ishrat-ul-Ibad
Published 17 Jun, 2008 12:00am
Apsea to buy sunflower at Rs 1,600 per 40-kg

Apsea to buy sunflower at Rs 1,600 per 40-kg

The All Pakistan Solvent Extractors Association (Apsea) has announced to procure sunflower from its members at the rate of Rs 1,600 per 40-kg at the factory gate to enable the farmers to get due compensation for their labour.
Published 17 Jun, 2008 12:00am
PML-Q boycotts Punjab Assembly session

PML-Q boycotts Punjab Assembly session

Senior politician and a leader of Pakistan Muslim League-Quaid (PML-Q) Hamid Nasir Chattha on Monday asked the Pakistan People's Party co-chairman Asif Ali Zardari to impress on his coalition partners in Punjab to adopt those good traditions in the Punjab
Published 17 Jun, 2008 12:00am
Budget termed as most apposite

Budget termed as most apposite

Hailing the Punjab Budget for the financial year 2008-09 as most apposite, public-friendly and financially most balanced document aimed at improving the socio-economic conditions of the downtrodden and facilitating healthcare, education, agriculture, indu
Published 17 Jun, 2008 12:00am
Rs 30.129 billion allocated for education

Rs 30.129 billion allocated for education

The Punjab government has allocated Rs 30.129 billion in the provincial budget of education for the year 2008-09 which is 40.3 percent higher than the allocation for the last financial year. The primary focus, however, is on provision of quality education
Published 17 Jun, 2008 12:00am
Tusdec plans teachers' training institute

Tusdec plans teachers' training institute

Technology Upgradation and Skill Development Company (Tusdec) is planning to set up Pakistan Skills Training and Research Institute (PSTRI) to upgrade technical and vocational education of teachers by updating their contemporary training skills.
Published 17 Jun, 2008 12:00am
Zardari gets warm welcome at Lahore airport

Zardari gets warm welcome at Lahore airport

Pakistan People's Party (PPP) on Monday showed its strength, as a large number of activists of the party gathered at the Lahore Airport to receive the PPP co-chairman Asif Ali Zardari, who arrived here for the first time after the formation of coalition g
Published 17 Jun, 2008 12:00am
Task force on essential items soon

Task force on essential items soon

The Punjab government has decided to set up task force on essential items at district level to maintain supply of essential items, controlling prices and adulteration. This was decided in a meeting of Chief Minister's Task Force on essential items. Chairm
Published 17 Jun, 2008 12:00am
CAA moot today

CAA moot today

Civil Aviation Authority (CAA) Lahore is organising a one-day conference at Allama Iqbal International Airport here on Tuesday, to discuss the problems caused by birds at airports.
Published 17 Jun, 2008 12:00am
Rs 11.30 billion allocated for irrigation sector

Rs 11.30 billion allocated for irrigation sector

The Punjab government has allocated Rs 11.30 billion for the Irrigation sector in the budget 2008-09. This shows an increase of around 3 percent over the allocations made for the 2007-08 fiscal and constitute about 11.2 percent of the core Annual Developm
Published 17 Jun, 2008 12:00am
LCCI terms budget pro-industry

LCCI terms budget pro-industry

The Lahore Chamber of Commerce and Industry (LCC) termed the Punjab budget for year 2008-09 positive, pro-industry, pro-poor and relief-oriented. Shahbaz Sharif's government deserves congratulations on presenting a balanced budget.
Published 17 Jun, 2008 12:00am
Former president FCCI terms budget balanced

Former president FCCI terms budget balanced

Former President Faisalabad Chamber of Commerce and Industry and Chairman FPCCI Standing Committee on Industry Mian Muhammad Idrees has termed federal budget for the year 2008-09 as balanced. He further said that it would have positive impact on the natio
Published 17 Jun, 2008 12:00am
Rs three billion allocated for Punjab ADP

Rs three billion allocated for Punjab ADP

The Punjab government has allocated Rs 3 billion for ADP 2008-09 to meet the challenges of food security and increasing the growth rate in agriculture for employment generation and poverty reduction in rural areas.
Published 17 Jun, 2008 12:00am
Power generation to be raised to 22,297 megawatts

Power generation to be raised to 22,297 megawatts

The Director-General, Energy Management Cell of Wapda, Tahir Bashir Cheema, has said that to meet the energy shortfall, the government has planned to increase power generation capacity to 22,297 mw in 2008-09 from 20,097 mw in 2007-08, with net addition o
Published 17 Jun, 2008 12:00am
Senate body recommends abolishing deemed duty

Senate body recommends abolishing deemed duty

The Senate Standing Committee on Finance on Monday recommended the government of abolishing deemed duty and reviewing of petroleum pricing formula. Senator Rukhsana Zubari said the removal of deemed duty would bring down petroleum prices by Rs 7 per liter
Published 17 Jun, 2008 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

In its Monday sitting, the Senate Standing Committee on Finance finally decided to send 65 recommendations to the National Assembly for amendments in Finance Bill. One recommendation urges capital gains tax on the Stock Market.
Published 17 Jun, 2008 12:00am
Opposition offers help to government on judges' issue

Opposition offers help to government on judges' issue

Opposition in Senate has offered help to the government on the restoration of sacked judges, but demanded of the PPP to bring in a separate 'miniature constitutional package' that specifically deals with judges' issue.
Published 17 Jun, 2008 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Nigerian Naval Chief visits Naval Headquarters

Nigerian Naval Chief visits Naval Headquarters

Vice Admiral G T A Adekeye, Chief of the Naval Staff Nigerian Navy currently on an official visit to Pakistan, visited Naval Headquarters, here on Monday. Chief of the Naval Staff, Admiral Muhammad Afzal Tahir received him on arrival, says a press release
Published 17 Jun, 2008 12:00am
Overseas Pakistanis: OPF plans to set up industrial estate

Overseas Pakistanis: OPF plans to set up industrial estate

Overseas Pakistanis Foundation (OPF) is working to set up an industrial estate for Overseas Pakistanis at Motorway Chakri Interchange Rawalpindi to provide investment opportunities to overseas investors. In this regard, the Foundation had already inked Me
Published 17 Jun, 2008 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Seminar on Benazir in New Delhi

Seminar on Benazir in New Delhi

Chairman, World Punjabi Congress (WPC), Fakhar Zaman, on Monday left here for India to attend a seminar on Benazir Bhutto Shaheed in New Delhi. WPC India and 'Forum for Indo-Pak friendship' are jointly organising the event as part of Benazir Bhutto Shahee
Published 17 Jun, 2008 12:00am
MGAP says budget not farmer-friendly

MGAP says budget not farmer-friendly

The Mango Growers Association of Pakistan (MGAP) has termed the budget 2008-09 as vague and fairly not farmer-friendly. The MGAP is of the view that the enhanced subsidy for DAP fertiliser is practically unworkable as subsidies are exploited and the entir
Published 17 Jun, 2008 12:00am
Struggle to continue till judges' restoration: Aitzaz

Struggle to continue till judges' restoration: Aitzaz

President of Supreme Court Bar Association Barrister Aitzaz Ahsan has said that lawyers were not stepped back from their stand and would carry on their struggle for the restoration of judges. "If we called for a sit-in, then a few hundreds people would st
Published 17 Jun, 2008 12:00am
Long march without 'sit in' a set back to movement: Hamid

Long march without 'sit in' a set back to movement: Hamid

The end of 'long march' without a sit in by the legal fraternity is a set back to the lawyers' movement and it gave the impression that Musharraf will not reinstate judges sacked on November 3, last year. Hamid Khan, member Pakistan Bar Council (PBC) and
Published 17 Jun, 2008 12:00am
Punjab local justice/access to justice programme to be launched

Punjab local justice/access to justice programme to be launched

The Punjab government intends to launch a province-wide Punjab Local Justice/Access to Justice Programme with the assistance of the Asian Development Bank and other donors. This programme will support existing initiatives and undertake new interventions.
Published 17 Jun, 2008 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Lawyers vow to continue strike

Lawyers vow to continue strike

President, High Court Bar Association, Multan, Mehmood Ashraf Khan has said that high court and district court bar associations would hold a symbolic strike for one hour daily and complete strike on Thursday. Terming the long march a great success he dema
Published 17 Jun, 2008 12:00am
Pre-monsoon rains bring pleasant relief

Pre-monsoon rains bring pleasant relief

Pre-monsoon rains have turned the atmosphere pleasant bringing maximum temperature below the normal. The normal date of starting monsoon was July 1 and its arrival 15 days earlier marks the breaking of many year-old record.
Published 17 Jun, 2008 12:00am
British Deputy HC reviews FIEDMC activities

British Deputy HC reviews FIEDMC activities

First Industrial Estate Project on Motorway will prove to be a business haven for the industrialists, said Robert W Gibson British Deputy High Commissioner.
Published 17 Jun, 2008 12:00am
ADP allocation enhanced to Rs 160 billion

ADP allocation enhanced to Rs 160 billion

The Punjab government, in its budget for fiscal 2008-09 announced on Monday, increased allocation in Annual Development Programme (ADP) by 31.47 percent to Rs 160 billion as compared to revised allocation of Rs 121.7 billion for 2007-08.
Published 17 Jun, 2008 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
ADP allocation enhanced to Rs 160 billion

ADP allocation enhanced to Rs 160 billion

The Punjab government, in its budget for fiscal 2008-09 announced on Monday, increased allocation in Annual Development Programme (ADP) by 31.47 percent to Rs 160 billion as compared to revised allocation of Rs 121.7 billion for 2007-08.
Published 17 Jun, 2008 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
ADP allocation enhanced to Rs 160 billion

ADP allocation enhanced to Rs 160 billion

The Punjab government, in its budget for fiscal 2008-09 announced on Monday, increased allocation in Annual Development Programme (ADP) by 31.47 percent to Rs 160 billion as compared to revised allocation of Rs 121.7 billion for 2007-08.
Published 17 Jun, 2008 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Taxes on luxury cars, property envisaged

Taxes on luxury cars, property envisaged

The Punjab Finance Bill 2008 envisages to levy taxes on imported luxury motor cars, stamp duty of 2 percent of property value on both new documents of consent decrees and transfer of property, and also 1 percent increase in sales tax on services.
Published 17 Jun, 2008 12:00am
Taxes on luxury cars, property envisaged

Taxes on luxury cars, property envisaged

The Punjab Finance Bill 2008 envisages to levy taxes on imported luxury motor cars, stamp duty of 2 percent of property value on both new documents of consent decrees and transfer of property, and also 1 percent increase in sales tax on services.
Published 17 Jun, 2008 12:00am
Taxes on luxury cars, property envisaged

Taxes on luxury cars, property envisaged

The Punjab Finance Bill 2008 envisages to levy taxes on imported luxury motor cars, stamp duty of 2 percent of property value on both new documents of consent decrees and transfer of property, and also 1 percent increase in sales tax on services.
Published 17 Jun, 2008 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Taxes on luxury cars, property envisaged

Taxes on luxury cars, property envisaged

The Punjab Finance Bill 2008 envisages to levy taxes on imported luxury motor cars, stamp duty of 2 percent of property value on both new documents of consent decrees and transfer of property, and also 1 percent increase in sales tax on services.
Published 17 Jun, 2008 12:00am
Stocks slide nearly four percent

Stocks slide nearly four percent

The Karachi share market witnessed heavy selling on reports that the government has planned to shift its deposits from other banks to the State Bank of Pakistan. However, selling continued despite a clarification by the Ministry of Finance.
Published 17 Jun, 2008 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (June 16, 2008).
Published 17 Jun, 2008 12:00am
Stocks slide nearly four percent

Stocks slide nearly four percent

The Karachi share market witnessed heavy selling on reports that the government has planned to shift its deposits from other banks to the State Bank of Pakistan. However, selling continued despite a clarification by the Ministry of Finance.
Published 17 Jun, 2008 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Stocks slide nearly four percent

Stocks slide nearly four percent

The Karachi share market witnessed heavy selling on reports that the government has planned to shift its deposits from other banks to the State Bank of Pakistan. However, selling continued despite a clarification by the Ministry of Finance.
Published 17 Jun, 2008 12:00am
BRIndex30 drops 667.94 points

BRIndex30 drops 667.94 points

The BRIndex30 registered a negative change of -667.94 or -4.76 percent on Monday, closing at 13,368.87. It opened at 14,055.12 and recorded intra-day high of 14,062.19 and low of 13,348.58. The volume amounted to 68,637,400, which was 63.84 percent of the
Published 17 Jun, 2008 12:00am
BRIndex30 drops 667.94 points

BRIndex30 drops 667.94 points

The BRIndex30 registered a negative change of -667.94 or -4.76 percent on Monday, closing at 13,368.87. It opened at 14,055.12 and recorded intra-day high of 14,062.19 and low of 13,348.58. The volume amounted to 68,637,400, which was 63.84 percent of the
Published 17 Jun, 2008 12:00am
Duty-free import of all agriculture machinery allowed

Duty-free import of all agriculture machinery allowed

The Federal Board of Revenue (FBR) has allowed the agriculture sector to import machinery, equipment, horticulture/floriculture machinery, irrigation/draining equipment, harvesting/threshing machinery and greenhouse farming equipment, etc, whether locally
Published 17 Jun, 2008 12:00am
Duty-free import of all agriculture machinery allowed

Duty-free import of all agriculture machinery allowed

The Federal Board of Revenue (FBR) has allowed the agriculture sector to import machinery, equipment, horticulture/floriculture machinery, irrigation/draining equipment, harvesting/threshing machinery and greenhouse farming equipment, etc, whether locally
Published 17 Jun, 2008 12:00am
Duty-free import of all agriculture machinery allowed

Duty-free import of all agriculture machinery allowed

The Federal Board of Revenue (FBR) has allowed the agriculture sector to import machinery, equipment, horticulture/floriculture machinery, irrigation/draining equipment, harvesting/threshing machinery and greenhouse farming equipment, etc, whether locally
Published 17 Jun, 2008 12:00am
Duty-free import of all agriculture machinery allowed

Duty-free import of all agriculture machinery allowed

The Federal Board of Revenue (FBR) has allowed the agriculture sector to import machinery, equipment, horticulture/floriculture machinery, irrigation/draining equipment, harvesting/threshing machinery and greenhouse farming equipment, etc, whether locally
Published 17 Jun, 2008 12:00am
Pakistan summons Afghan envoy

Pakistan summons Afghan envoy

Foreign Office on Monday summoned Afghanistan's ambassador to protest President Hamid Karzai's threat to send Afghan troops to fight notorious Taliban leaders inside Pakistan. Foreign Ministry spokesman Mohammed Sadiq said a "strong protest" has been lodg
Published 17 Jun, 2008 12:00am
Pakistan summons Afghan envoy

Pakistan summons Afghan envoy

Foreign Office on Monday summoned Afghanistan's ambassador to protest President Hamid Karzai's threat to send Afghan troops to fight notorious Taliban leaders inside Pakistan. Foreign Ministry spokesman Mohammed Sadiq said a "strong protest" has been lodg
Published 17 Jun, 2008 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
$5.90 billion remittances received in 11 months

$5.90 billion remittances received in 11 months

Remittances by overseas Pakistanis rose to $5.903 billion in 11 July-May period of the current fiscal year 2007-08, showing an increase of $915.73 million, or 18.36 percent, over the same period of last fiscal year.
Published 17 Jun, 2008 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (June 16, 2008).
Published 17 Jun, 2008 12:00am
$5.90 billion remittances received in 11 months

$5.90 billion remittances received in 11 months

Remittances by overseas Pakistanis rose to $5.903 billion in 11 July-May period of the current fiscal year 2007-08, showing an increase of $915.73 million, or 18.36 percent, over the same period of last fiscal year.
Published 17 Jun, 2008 12:00am
$5.90 billion remittances received in 11 months

$5.90 billion remittances received in 11 months

Remittances by overseas Pakistanis rose to $5.903 billion in 11 July-May period of the current fiscal year 2007-08, showing an increase of $915.73 million, or 18.36 percent, over the same period of last fiscal year.
Published 17 Jun, 2008 12:00am
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