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Print - 2008-07-02
Formalities to be completed for CFS Mk-II implementation

Formalities to be completed for CFS Mk-II implementation

The National Clearing Company of Pakistan Limited (NCCPL) has asked all clearing members to complete the formalities to act as financee and/or financier in CFS Mk-II market, effective from July 14, 2008.
Published 02 Jul, 2008 12:00am
Business community slams hike in petroleum prices, gas tariff

Business community slams hike in petroleum prices, gas tariff

The business community has termed the recent increase in gas tariff by 31 percent, CNG, steep increase in petroleum prices, increase in power tariff as well as proposed increase in power tariff by Rs 10 per unit as a conspiracy against the elected governm
Published 02 Jul, 2008 12:00am
FPCCI to organise ECO meeting on July 24

FPCCI to organise ECO meeting on July 24

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) will organise ECO executive committee, General Assembly meetings and 3rd Business Forum and Buyers Sellers meeting on Auto Industry on the side lines of ECO Trade Fair at Karachi (23 to 26 J
Published 02 Jul, 2008 12:00am
Pakistan ranked 83rd in 'Forbes Best Countries for Business'

Pakistan ranked 83rd in 'Forbes Best Countries for Business'

Pakistan has been ranked 83rd in a global list of 'best countries to do business in', improving from 93rd place last year. While Pakistan has climbed 10 places, India is down 13 notches, to 64th place. In the new 'Forbes Study', that compares business cli
Published 02 Jul, 2008 12:00am
Rise in prices: drastic decline in CNG sales feared

Rise in prices: drastic decline in CNG sales feared

Following the government decision to raise 31 percent gas tariff, the CNG sales is likely to decline by 15 percent, which would badly hit the investment of Rs 149 billion in the sector.
Published 02 Jul, 2008 12:00am
President-business community meeting on July 4

President-business community meeting on July 4

President Pervez Musharraf will preside over a meeting of business community on Friday, July 4 during his visit to Karachi, it has been learnt. The sources said that Governor Sindh Dr Ishrat-ul-Ibad Khan, Chief Minister Sindh Syed Qaim Ali Shah, business
Published 02 Jul, 2008 12:00am
Election of Hyderabad Press Club held

Election of Hyderabad Press Club held

Annual election of Hyderabad Press Club was held under the chair of Chairman Election Committee Mushtaque Baloch, Muhammad Ali and Nasreen Shakeel Pathan. According to results of election committee Junaid Khanzado took 121 votes and was elected as new pre
Published 02 Jul, 2008 12:00am
Pepco restores power supply

Pepco restores power supply

The Pakistan Electric Power Company (Pepco) has successfully restored the electricity supply through alternate sources to the affected areas, where power supply was suspended due to collapse of angle tower No 27 of the 220 KV Double Circuit New Multan-NGP
Published 02 Jul, 2008 12:00am
Lieutenant General Bakhshi visits combat bridge training camp

Lieutenant General Bakhshi visits combat bridge training camp

Corps Commander Lieutenant General Ijaz Ahmed Bakhshi on Tuesday visited an exercise area to see army engineers corps troops engaged in a bridge construction training. Corps Engineers Commander Brigadier Muhammad Jahangir Akhtar was also with him.
Published 02 Jul, 2008 12:00am
Oxford scholar to give a talk at Islamic University

Oxford scholar to give a talk at Islamic University

Oxford scholar Dr Tariq Said Ramadan, visiting professor at Oxford University, will give a talk on "Globalisation and the Redefinition of Muslim Identity: Challenges and Opportunities" on Friday.
Published 02 Jul, 2008 12:00am
NWFP Assembly demands withdrawal of proposed raise in power tariff

NWFP Assembly demands withdrawal of proposed raise in power tariff

NWFP Assembly on Tuesday passed two unanimous resolutions demanding of the government to withdraw proposal for increase in power tariff and review of the sureties bond for electricity connections. The second resolution was against the requisition of Pesha
Published 02 Jul, 2008 12:00am
Campaign against criminals launched

Campaign against criminals launched

Lahore police have launched a vigorous campaign against proclaimed offenders and court absconders involved in heinous crimes, extortionists and land grabbers and all the officers should actively take part in the campaign and submit performance report on t
Published 02 Jul, 2008 12:00am
UK police to train National Highways police officers

UK police to train National Highways police officers

National Highways and Motorway Police has invited two UK Yorkshire police trainers to provide training to the officers of National Highways and Motorway Police for two weeks. These two trainers from UK Yorkshire Police including Chief Inspector Peter Seha
Published 02 Jul, 2008 12:00am
KBP chief slams gas and oil price hikes

KBP chief slams gas and oil price hikes

Kisan Board Pakistan (KBP) President Sardar Zafar Hussain Khan has urged the government to stop trend of price hike since it could adversely affect the economy. While he was commenting on the increase in gas and petroleum prices, he said it was injustice
Published 02 Jul, 2008 12:00am
Boucher calls on Governor Punjab

Boucher calls on Governor Punjab

US Assistant Secretary of State for South and Central Asian Affairs, Richard Boucher called on Governor Punjab Salmaan Taseer at Governor House here on Tuesday and discussed matters of mutual interest including political situation. The governor said that
Published 02 Jul, 2008 12:00am
Government should focus on Fata development: Munir Aurakzai

Government should focus on Fata development: Munir Aurakzai

Parliamentarian from Fata, Munir Aurakzai, urged the government to work for the welfare of the Federally Administered Tribal Areas (Fata). Talking to private news channel, he said Fata is a neglected area and still deprived of infrastructure, schools and
Published 02 Jul, 2008 12:00am
Government giving priority to welfare of low-income groups: Gilani

Government giving priority to welfare of low-income groups: Gilani

Prime Minister Syed Yousuf Raza Gilani has said the government is giving high priority to the welfare of all segments of the society particularly the lower income groups. The Prime Minister said this while talking to a delegation of the Trade Union Allian
Published 02 Jul, 2008 12:00am
Governor Balochistan calls on President

Governor Balochistan calls on President

Governor Balochistan Nawab Zulfiqar Ali Magsi called on President Pervez Musharraf here on Tuesday. He briefed the President about the general law and order situation and the ongoing development projects in Balochistan.
Published 02 Jul, 2008 12:00am
16th IED working group meeting held at general headquarters

16th IED working group meeting held at general headquarters

The Working Group of International Security Assistance Force (ISAF), Afghan National Army (ANA) and Pakistan Army deliberated on countering the threat of Improvised Explosives Device (IED) being faced by civilians. In 16th IED Working Group Meeting, held
Published 02 Jul, 2008 12:00am
Deserving hepatitis patients: Pims fails to provide list

Deserving hepatitis patients: Pims fails to provide list

Pakistan Institute of Medical Sciences (Pims) has not yet provided the list of eligible poor hepatitis patients to the National Programme for Prevention and Control of Hepatitis, sources told Business Recorder here on Tuesday. Sources said that Pim
Published 02 Jul, 2008 12:00am
World Bank approves climate funds

World Bank approves climate funds

The World Bank on Tuesday agreed to establish two investment funds to help developing economies switch to clean energy technologies to curb carbon emissions and assist poor countries adapt to climate change.
Published 02 Jul, 2008 12:00am
World Bank approves climate funds

World Bank approves climate funds

The World Bank on Tuesday agreed to establish two investment funds to help developing economies switch to clean energy technologies to curb carbon emissions and assist poor countries adapt to climate change.
Published 02 Jul, 2008 12:00am
World Bank approves climate funds

World Bank approves climate funds

The World Bank on Tuesday agreed to establish two investment funds to help developing economies switch to clean energy technologies to curb carbon emissions and assist poor countries adapt to climate change.
Published 02 Jul, 2008 12:00am
Net increase in CNG price Rs 5.58/kg, not Rs 13: ministry

Net increase in CNG price Rs 5.58/kg, not Rs 13: ministry

The Ministry of Petroleum and Natural Resources has notified that the government has increased CNG prices by Rs 4.3 per kg, not Rs 13 per kg. A notification issued by Director General (Gas), Ministry of Petroleum and Natural Resources on Tuesday clarified
Published 02 Jul, 2008 12:00am
Net increase in CNG price Rs 5.58/kg, not Rs 13: ministry

Net increase in CNG price Rs 5.58/kg, not Rs 13: ministry

The Ministry of Petroleum and Natural Resources has notified that the government has increased CNG prices by Rs 4.3 per kg, not Rs 13 per kg. A notification issued by Director General (Gas), Ministry of Petroleum and Natural Resources on Tuesday clarified
Published 02 Jul, 2008 12:00am
Net increase in CNG price Rs 5.58/kg, not Rs 13: ministry

Net increase in CNG price Rs 5.58/kg, not Rs 13: ministry

The Ministry of Petroleum and Natural Resources has notified that the government has increased CNG prices by Rs 4.3 per kg, not Rs 13 per kg. A notification issued by Director General (Gas), Ministry of Petroleum and Natural Resources on Tuesday clarified
Published 02 Jul, 2008 12:00am
Japan gives $2.7 million to help Afghan DPs

Japan gives $2.7 million to help Afghan DPs

Japan has contributed $2.7 million to assist Afghan refugees in Pakistan and continue a tradition of humanitarian generosity towards the world's largest refugee-hosting country. The $2.7 million donation will go to UN High Commission for Refugee (UNHCR) o
Published 02 Jul, 2008 12:00am
PIREM, REPF hold seminar today

PIREM, REPF hold seminar today

Pakistan Institute of Real Estate Management (PIREM) and Real Estate Professional Forum (REPF) are jointly organising a seminar on "Professional Ethics in Real Estate Business" at the auditorium of Muhammad Ali Jinnah University here on Wednesday (today).
Published 02 Jul, 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 02 Jul, 2008 12:00am
31 percent gas tariff raise criticised

31 percent gas tariff raise criticised

The Pakistan Textile Exporters Association (PTEA) has expressed grave concern over 31 percent raise in gas rates, and has said that this would in turn increase the cost of production and the Pakistani textile products would not be able to compete in the i
Published 02 Jul, 2008 12:00am
ECC decides to launch price control mechanism

ECC decides to launch price control mechanism

The Economic Co-ordination Committee (ECC) has decided to launch a 'price control mechanism' by the end of August, 2008 in the wake of skyrocketing prices of essential food items. The decision was made during an ECC meeting held here at Sindh Governor Hou
Published 02 Jul, 2008 12:00am
High growth in WHT collection witnessed in three areas

High growth in WHT collection witnessed in three areas

The highest growth in withholding tax (WHT) collection has been witnessed in three services/areas, which include telephones (39 percent); contracts (36.3 percent), salary (27.2 percent) and cash withdrawals from banks (23.8 percent), during the first nine
Published 02 Jul, 2008 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (July 01, 2008).
Published 02 Jul, 2008 12:00am
CNG Association gives strike call for July 7

CNG Association gives strike call for July 7

The All Pakistan CNG Association has demanded of the government to withdraw the decision of 31 percent increase in gas prices and also to rationalise CNG price, otherwise they would go on strike on Monday, July 7, 2008. They said that in the first phase,
Published 02 Jul, 2008 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (July 01, 2008).
Published 02 Jul, 2008 12:00am
PIA raises fares

PIA raises fares

The Pakistan International Airlines (PIA) has increased fares on its flights for international routes and Umrahs. According to sources, private airlines including the PIA have increased fares for their international routes and Umrahs due to rapidly increa
Published 02 Jul, 2008 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (July 01, 2008).
Published 02 Jul, 2008 12:00am
JCSC chief calls on President

JCSC chief calls on President

Chairman Joint Chiefs of Staff Committee General Tariq Majeed called on President Pervez Musharraf here on Tuesday. He briefed the President about the Joint Chiefs of Staff Committee meeting, held at Joint Staff Headquarters on Monday, in which important
Published 02 Jul, 2008 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (July 01, 2008) and for Wednesday (July 02, 2008).
Published 02 Jul, 2008 12:00am
JCSC chief calls on President

JCSC chief calls on President

Chairman Joint Chiefs of Staff Committee General Tariq Majeed called on President Pervez Musharraf here on Tuesday. He briefed the President about the Joint Chiefs of Staff Committee meeting, held at Joint Staff Headquarters on Monday, in which important
Published 02 Jul, 2008 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (July 01, 2008).
Published 02 Jul, 2008 12:00am
Price of 20-kg flour bag raised by Rs 20 in Punjab

Price of 20-kg flour bag raised by Rs 20 in Punjab

The Pakistan Flourmills Association (Punjab branch) has increased the flour prices by Rs 20 per 20-kg bag (ex-mill) because of the surge in the wheat prices in open market and the increase in the oil and gas prices. The new price of the 20-kg flour bag wi
Published 02 Jul, 2008 12:00am
Price of 20-kg flour bag raised by Rs 20 in Punjab

Price of 20-kg flour bag raised by Rs 20 in Punjab

The Pakistan Flourmills Association (Punjab branch) has increased the flour prices by Rs 20 per 20-kg bag (ex-mill) because of the surge in the wheat prices in open market and the increase in the oil and gas prices. The new price of the 20-kg flour bag wi
Published 02 Jul, 2008 12:00am
Price of 20-kg flour bag raised by Rs 20 in Punjab

Price of 20-kg flour bag raised by Rs 20 in Punjab

The Pakistan Flourmills Association (Punjab branch) has increased the flour prices by Rs 20 per 20-kg bag (ex-mill) because of the surge in the wheat prices in open market and the increase in the oil and gas prices. The new price of the 20-kg flour bag wi
Published 02 Jul, 2008 12:00am
Rs 6.9 billion SED collected in July-March

Rs 6.9 billion SED collected in July-March

The Federal Board of Revenue (FBR) has collected Rs 6.9 billion as special excise duty (SED) during July-March (2007-08) against target of Rs 8.7 billion, showing a shortfall of Rs 1.8 billion. According to FBR data released on Tuesday, one percent SED at
Published 02 Jul, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (July 01, 2008).
Published 02 Jul, 2008 12:00am
West invested in weapons and army, not in people: Zardari

West invested in weapons and army, not in people: Zardari

PPP co-chairman Asif Ali Zardari has said that the west invested in Pakistan's weapons and military, but not in its people with the result that the international community had to pay a terrible price for using Pakistan for its short-term political objecti
Published 02 Jul, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (July 01, 2008).
Published 02 Jul, 2008 12:00am
PSO reluctant to supply furnace oil to government power plants

PSO reluctant to supply furnace oil to government power plants

The Pakistan State Oil (PSO) has expressed inability to meet furnace oil requirements of public sector thermal power plants because of its worsening financial position, official sources told Business Recorder here on Tuesday.
Published 02 Jul, 2008 12:00am
PSO reluctant to supply furnace oil to government power plants

PSO reluctant to supply furnace oil to government power plants

The Pakistan State Oil (PSO) has expressed inability to meet furnace oil requirements of public sector thermal power plants because of its worsening financial position, official sources told Business Recorder here on Tuesday.
Published 02 Jul, 2008 12:00am
THE RUPEE: dollar marginally up

THE RUPEE: dollar marginally up

At the starting session of the new fiscal year 2008-09, the rupee commenced with modest losses against dollar in the open market on Tuesday, shedding 10 paisa for buying at 68.65 and it also fell by five paisa for selling at 68.75, dealers said.
Published 02 Jul, 2008 12:00am
PSO reluctant to supply furnace oil to government power plants

PSO reluctant to supply furnace oil to government power plants

The Pakistan State Oil (PSO) has expressed inability to meet furnace oil requirements of public sector thermal power plants because of its worsening financial position, official sources told Business Recorder here on Tuesday.
Published 02 Jul, 2008 12:00am
THE RUPEE: dollar marginally up

THE RUPEE: dollar marginally up

At the starting session of the new fiscal year 2008-09, the rupee commenced with modest losses against dollar in the open market on Tuesday, shedding 10 paisa for buying at 68.65 and it also fell by five paisa for selling at 68.75, dealers said.
Published 02 Jul, 2008 12:00am
Opec has concerns about demand: president

Opec has concerns about demand: president

The president of Opec, Chakib Khelil, said Tuesday the oil cartel was concerned that future demand for oil might not be strong enough to justify investment to boost oil production. "The concern we have is about the security of demand," Khelil, who is also
Published 02 Jul, 2008 12:00am
Opec has concerns about demand: president

Opec has concerns about demand: president

The president of Opec, Chakib Khelil, said Tuesday the oil cartel was concerned that future demand for oil might not be strong enough to justify investment to boost oil production. "The concern we have is about the security of demand," Khelil, who is also
Published 02 Jul, 2008 12:00am
Opec has concerns about demand: president

Opec has concerns about demand: president

The president of Opec, Chakib Khelil, said Tuesday the oil cartel was concerned that future demand for oil might not be strong enough to justify investment to boost oil production. "The concern we have is about the security of demand," Khelil, who is also
Published 02 Jul, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Tuesday (July 01, 2008).
Published 02 Jul, 2008 12:00am
BRIndex30 down 91.26 points

BRIndex30 down 91.26 points

On Tuesday, the BRIndex30 opened in the negative zone at 13,228.53. It closed at 13,137.27 with a net negative change of -91.26 points and percentage change of -0.69. It saw intra-day high of 13,228.53 and intra-day low of 13,105.53.
Published 02 Jul, 2008 12:00am
BRIndex30 down 91.26 points

BRIndex30 down 91.26 points

On Tuesday, the BRIndex30 opened in the negative zone at 13,228.53. It closed at 13,137.27 with a net negative change of -91.26 points and percentage change of -0.69. It saw intra-day high of 13,228.53 and intra-day low of 13,105.53.
Published 02 Jul, 2008 12:00am
Stocks lose more shine on KSE

Stocks lose more shine on KSE

The negative trend continued at the Karachi share market on Tuesday due reportedly to the poor law and order situation in the country and dismal performance of major economic sectors. The federal government has paid some Rs 70 billion to oil marketing com
Published 02 Jul, 2008 12:00am
Stocks lose more shine on KSE

Stocks lose more shine on KSE

The negative trend continued at the Karachi share market on Tuesday due reportedly to the poor law and order situation in the country and dismal performance of major economic sectors. The federal government has paid some Rs 70 billion to oil marketing com
Published 02 Jul, 2008 12:00am
Stocks lose more shine on KSE

Stocks lose more shine on KSE

The negative trend continued at the Karachi share market on Tuesday due reportedly to the poor law and order situation in the country and dismal performance of major economic sectors. The federal government has paid some Rs 70 billion to oil marketing com
Published 02 Jul, 2008 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 02 Jul, 2008 12:00am
10 sectors contribute 81 percent of sales tax revenue

10 sectors contribute 81 percent of sales tax revenue

Major revenue spinners of sales tax collection from domestic commodities/services were petroleum products, telecommunication services, natural gas, sugar, cigarettes, iron/steel products, services sector, automobile sector, electricity and beverages durin
Published 02 Jul, 2008 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Tuesday (July 01, 2008).
Published 02 Jul, 2008 12:00am
10 sectors contribute 81 percent of sales tax revenue

10 sectors contribute 81 percent of sales tax revenue

Major revenue spinners of sales tax collection from domestic commodities/services were petroleum products, telecommunication services, natural gas, sugar, cigarettes, iron/steel products, services sector, automobile sector, electricity and beverages durin
Published 02 Jul, 2008 12:00am
10 sectors contribute 81 percent of sales tax revenue

10 sectors contribute 81 percent of sales tax revenue

Major revenue spinners of sales tax collection from domestic commodities/services were petroleum products, telecommunication services, natural gas, sugar, cigarettes, iron/steel products, services sector, automobile sector, electricity and beverages durin
Published 02 Jul, 2008 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.
Published 02 Jul, 2008 12:00am
Cement price increased by Rs 15 per bag

Cement price increased by Rs 15 per bag

Local cement manufacturers on Tuesday raised the price of cement by Rs 15 per 50-kg bag due to increase in the sales tax and excise duty. The federal government has raised General Sales Tax (GST) by one percent and Federal Excise Duty (FED) by Rs 150 per
Published 02 Jul, 2008 12:00am
Cement price increased by Rs 15 per bag

Cement price increased by Rs 15 per bag

Local cement manufacturers on Tuesday raised the price of cement by Rs 15 per 50-kg bag due to increase in the sales tax and excise duty. The federal government has raised General Sales Tax (GST) by one percent and Federal Excise Duty (FED) by Rs 150 per
Published 02 Jul, 2008 12:00am
Cement price increased by Rs 15 per bag

Cement price increased by Rs 15 per bag

Local cement manufacturers on Tuesday raised the price of cement by Rs 15 per 50-kg bag due to increase in the sales tax and excise duty. The federal government has raised General Sales Tax (GST) by one percent and Federal Excise Duty (FED) by Rs 150 per
Published 02 Jul, 2008 12:00am
Prime Minister inaugurates RTGS at SBP

Prime Minister inaugurates RTGS at SBP

Prime Minister Yousuf Raza Gilani on Tuesday inaugurated the ''Real Time Gross Settlement System'' (RTGS) at the State Bank of Pakistan here which would enable banks to settle their large value payments in real time, using a computerised network.
Published 02 Jul, 2008 12:00am
Prime Minister inaugurates RTGS at SBP

Prime Minister inaugurates RTGS at SBP

Prime Minister Yousuf Raza Gilani on Tuesday inaugurated the 'Real Time Gross Settlement System' (RTGS) at the State Bank of Pakistan here which would enable banks to settle their large value payments in real time, using a computerised network.
Published 02 Jul, 2008 12:00am
Prime Minister inaugurates RTGS at SBP

Prime Minister inaugurates RTGS at SBP

Prime Minister Yousuf Raza Gilani on Tuesday inaugurated the 'Real Time Gross Settlement System' (RTGS) at the State Bank of Pakistan here which would enable banks to settle their large value payments in real time, using a computerised network.
Published 02 Jul, 2008 12:00am
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