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Print - 2008-06-17
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
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
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
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
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
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
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
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
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
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
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
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
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
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
'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
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
'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
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
'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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Grain market rates

Grain market rates

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

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
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Movements across border will be monitored: Rehman Malik

Movements across border will be monitored: Rehman Malik

Pakistan stoked tensions with Afghanistan on Monday, summoning the Afghan envoy and vowing to defend its territory after President Hamid Karzai threatened cross-border attacks on militants.
Published 17 Jun, 2008 12:00am
Senate criticises PTV administration

Senate criticises PTV administration

Senate on Monday criticised the PTV administration for not including the house debate on budget in the main bulletin 'Khabarnama'. Senate Chairman Mohammadmian Soomro directed the PTV and information ministry to take immediate steps to ensure proper cover
Published 17 Jun, 2008 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Shaukat under fire in Senate

Shaukat under fire in Senate

Former Prime Minister Shaukat Aziz came under fire in Senate on Monday as a treasury senator registered FIR against him for ignoring a unanimous resolution of the house to contain the oil prices at a reasonable level.
Published 17 Jun, 2008 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Expansion work of Marghazar Zoo likely to start this month

Expansion work of Marghazar Zoo likely to start this month

The expansion work of the Marghazar Zoo at a cost of Rs 1.4 billion is likely to start this month, Business Recorder learnt here on Monday. Talking to this scribe officials of Capital Development Authority (CDA) said that it is a three-year project
Published 17 Jun, 2008 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Cases against PPP leadership quashed under NRO: Muqam

Cases against PPP leadership quashed under NRO: Muqam

President Pakistan Muslim League-Q NWFP, Engineer Amir Muqam has said that all the cases framed against PPP leadership were declared null and void under the National Reconciliation Order (NRO).
Published 17 Jun, 2008 12:00am
Karachi tea rates

Karachi tea rates

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

Published 17 Jun, 2008 12:00am
No subsidy withdrawal on power up to 200 units: minister

No subsidy withdrawal on power up to 200 units: minister

Minister for Water and Power Raja Pervaiz Ashraf on Monday said that the government will not withdraw subsidy on electricity up to 200 units to give relief to poor people. Talking to journalists here, the minister said only privileged class using over 200
Published 17 Jun, 2008 12:00am
Government announces construction of one million houses for poor

Government announces construction of one million houses for poor

The Sindh government in the Budget 2008-09 has proposed to construct one million houses for the poor and retired government employees. In his budget speech, Sindh Chief Minister Syed Qaim Ali Shah told the house that the step will be key towards ushering
Published 17 Jun, 2008 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 31th May 2008.

Published 17 Jun, 2008 12:00am
FBR declares AOPs, individuals as 'withholding agents'

FBR declares AOPs, individuals as 'withholding agents'

The Federal Board of Revenue (FBR) has declared Association of Persons (AOPs) and individuals as "withholding agents", which would burden them with extra cost and create serious problems in documentation vis-à-vis filing of statements by these new agents.
Published 17 Jun, 2008 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 31th May 2008.

Published 17 Jun, 2008 12:00am
Mixed response to Sindh budget

Mixed response to Sindh budget

Calling for stoppage of activities based on political revenge the opposition in Sindh Assembly came with a mixed response to the provincial budget for 2008-09 presented by Sindh Chief Minster Syed Qaim Ali Shah in the house on Monday.
Published 17 Jun, 2008 12:00am
Sindh development budget raised by 23 percent

Sindh development budget raised by 23 percent

Sindh government has increased allocation for development spending by 23 percent against the revised development budget of Rs 72. 3 billion for 2007-08.
Published 17 Jun, 2008 12:00am
Sindh development budget raised by 23 percent

Sindh development budget raised by 23 percent

Sindh government has increased allocation for development spending by 23 percent against the revised development budget of Rs 72. 3 billion for 2007-08.
Published 17 Jun, 2008 12:00am
MCC informed of 4000 percent raise in valuation of auto parts

MCC informed of 4000 percent raise in valuation of auto parts

The Directorate-General of Customs Valuation, Karachi has conveyed to the Model Customs Collectorate (MCC), Appraisement Karachi that there is an upward revision from 26 to 4000 percent in customs values on import of auto parts.
Published 17 Jun, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Road cess on imports raised by 0.3 percent

Road cess on imports raised by 0.3 percent

The Sindh government has announced to raise Special Development and Maintenance of Infrastructure Cess on imports by 0.3 percent, while 0.1 percent stamp duty on electric transfer of shares has been abolished.
Published 17 Jun, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Four killed in Dera Ismail Khan mosque blast

Four killed in Dera Ismail Khan mosque blast

At least four people were killed and two others injured on Monday after an explosive device went off at a mosque in Dera Ismail Khan, police said. It was not immediately clear who planted the device at the small mosque belonging to the minority Muslim com
Published 17 Jun, 2008 12:00am
THE RUPEE: dollar higher

THE RUPEE: dollar higher

Falling trend was seen on the interbank market on Monday as the rupee lost 30 paisa against the dollar for buying at 66.95 and it also shed 24 paisa for selling at 66.99, currency experts said. Demand was up by the importers and supply was tight, so the r
Published 17 Jun, 2008 12:00am
Four killed in Dera Ismail Khan mosque blast

Four killed in Dera Ismail Khan mosque blast

At least four people were killed and two others injured on Monday after an explosive device went off at a mosque in Dera Ismail Khan, police said. It was not immediately clear who planted the device at the small mosque belonging to the minority Muslim com
Published 17 Jun, 2008 12:00am
THE RUPEE: dollar higher

THE RUPEE: dollar higher

Falling trend was seen on the interbank market on Monday as the rupee lost 30 paisa against the dollar for buying at 66.95 and it also shed 24 paisa for selling at 66.99, currency experts said. Demand was up by the importers and supply was tight, so the r
Published 17 Jun, 2008 12:00am
Increase in sales tax won''t be withdrawn, says Naveed

Increase in sales tax won''t be withdrawn, says Naveed

Finance Minister Naveed Qanar said on Monday that the government would not withdraw one percent increase in sales tax, from 15 to 16 percent, as some opposition members had opposed the duty contending that it would increase hardship of the poor.
Published 17 Jun, 2008 12:00am
Increase in sales tax won't be withdrawn, says Naveed

Increase in sales tax won't be withdrawn, says Naveed

Finance Minister Naveed Qanar said on Monday that the government would not withdraw one percent increase in sales tax, from 15 to 16 percent, as some opposition members had opposed the duty contending that it would increase hardship of the poor.
Published 17 Jun, 2008 12:00am
Increase in sales tax won't be withdrawn, says Naveed

Increase in sales tax won't be withdrawn, says Naveed

Finance Minister Naveed Qanar said on Monday that the government would not withdraw one percent increase in sales tax, from 15 to 16 percent, as some opposition members had opposed the duty contending that it would increase hardship of the poor.
Published 17 Jun, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Monday (June 16, 2008).

Published 17 Jun, 2008 12:00am
Zardari meets Prime Minister

Zardari meets Prime Minister

Prime Minister Syed Yousuf Raza Gilani and co-chairman of Pakistan People's Party Asif Ali Zardari on Monday held a meeting here at the State Guest House. In the meeting lasting over an hour, they discussed matters of national importance and political sit
Published 17 Jun, 2008 12:00am
Zardari meets Prime Minister

Zardari meets Prime Minister

Prime Minister Syed Yousuf Raza Gilani and co-chairman of Pakistan People's Party Asif Ali Zardari on Monday held a meeting here at the State Guest House. In the meeting lasting over an hour, they discussed matters of national importance and political sit
Published 17 Jun, 2008 12:00am
Militants capture Afghan villages, 37 killed

Militants capture Afghan villages, 37 killed

Hundreds of Taliban overran at least four villages in southern region, while an Afghan child and 37 Taliban militants were killed in separate attacks elsewhere in the country, officials said Monday. Hundreds of Taliban militants have entered the Arghandab
Published 17 Jun, 2008 12:00am
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