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Print - 2008-11-14
Punjab government striving to provide Roti at economical rates

Punjab government striving to provide Roti at economical rates

Punjab Chief Minister Muhammad Shahbaz Sharif meeting Federal Railway's Minister Ghulam Ahmad Balour here on Thursday briefed him about development undertaken in the Province. The CM said that besides establishing of Endowment Fund with Rs two billion, 28
Published 14 Nov, 2008 12:00am
Our economic mess

Our economic mess

Years of mismanagement, poor governance, lack of accountability, wasteful indulgence, rampant financial impropriety by successive governments, state corporations, traders and powerful institutions, have driven Pakistan into an economic mess that leaves us
Published 14 Nov, 2008 12:00am
Iraqi Sunni guards join Shia Government payroll

Iraqi Sunni guards join Shia Government payroll

From a money-counting table stacked with cash to a staircase out in the hallway, a long line of US-backed Iraqi fighters wait patiently for their dues. It's pay week for the patrolmen who helped flush al Qaeda militants out of their Baghdad neighbourhoods
Published 14 Nov, 2008 12:00am
Stock Exchanges: yet more surprises to come

Stock Exchanges: yet more surprises to come

The market floor is capped since August 28th 2008 and there seems to be no indication that the cap would be lifted soon. Several senior brokers and business analysts believe that the floor should be allowed to function freely in the third week of November
Published 14 Nov, 2008 12:00am
Of rights and misleading information

Of rights and misleading information

Speaking at the launch of "Women's Right to Land and Hunger-Free Women Campaign," in Islamabad the other day, an Action Aid official highlighted the significance of the programme describing it as "awakening for our rural women, an awareness for them about
Published 14 Nov, 2008 12:00am
Increase in discount rate

Increase in discount rate

The State Bank of Pakistan (SBP), it seems, has to play second fiddle during the period of the macroeconomic stabilisation programme likely to be concluded with the IMF in the next few days. At a time when it was busy injecting high doses of liquidity thr
Published 14 Nov, 2008 12:00am
MyBank Limited placed on rating watch

MyBank Limited placed on rating watch

In view of recent negotiations regarding the planned acquisition of a substantial stake in MyBank Limited (ML) by a new group of investors, Pakistan Credit Rating Agency (Pacra) has placed ratings of ML on rating watch. The long-term and short-term rating
Published 14 Nov, 2008 12:00am
SASO/PSQCA sign recognition program

SASO/PSQCA sign recognition program

In what is being considered a significant development, Saudi Arabian Standards Organisation (SASO) has designated Pakistan Standards and Quality Control Authority (PSQCA) as the sole Pakistani certification body authorised to issue Certificates of Conform
Published 14 Nov, 2008 12:00am
Engro Polymer highlights new developments in PVC industry

Engro Polymer highlights new developments in PVC industry

Engro Polymer & Chemicals Limited held a workshop for its industrial customers, in Lahore, to apprise them of the new developments that are taking place in the PVC industry in the world and the arrival of new products in the market.
Published 14 Nov, 2008 12:00am
Pakistan to attend IITF 2008 as partner state

Pakistan to attend IITF 2008 as partner state

Pakistan is participating as Farther Country in India International Trade Fair (IITF 2008) which is commencing from November 14, New Delhi. Pakistan Pavilion located in the International Hall will have a unique distinction in terms of size and variety of
Published 14 Nov, 2008 12:00am
Sino-Pak economic ties to strengthen further: Khuhro

Sino-Pak economic ties to strengthen further: Khuhro

Speaker Sindh Assembly Nisar Ahmed Khuhro while lauding the keen interest of Chinese business sector in Pakistan expressed the hope that the bilateral economic co-operation in different areas would help further strengthen the co-operative partnership and
Published 14 Nov, 2008 12:00am
Consumer goods sales decline steeply

Consumer goods sales decline steeply

Small traders are holding responsible the country's current economic conditions and deteriorating law and order situation for the decline in trade activities, as retail sales have reduced to 25 percent in recent weeks in the city's major markets.
Published 14 Nov, 2008 12:00am
Salana Munafa scheme: Saudi Pak Bank offering attractive return

Salana Munafa scheme: Saudi Pak Bank offering attractive return

Saudi Pak Bank is creating a buzz over its recently launched "Salana Munafa" term deposit scheme. The scheme gives depositors 14.5% return in just one year of investment of Rs 100,000 or more. The market for term deposits is currently very competitive wit
Published 14 Nov, 2008 12:00am
Schools in 2005 quake-hit areas inaugurated

Schools in 2005 quake-hit areas inaugurated

Pakistan State Oil (PSO) as a responsible corporate citizen has been continuously playing its role in community building activities in various parts of Pakistan. In the past few years, the company has been focusing on trying to rebuild schools in the 2005
Published 14 Nov, 2008 12:00am
'Islamic financial system needs more efforts'

'Islamic financial system needs more efforts'

The growth of Islamic system in Pakistan has been broad-based and substantial but a lot more needs to be done and people in general have to be informed more about the benefits of Islamic financial system. This was the consensus of participants in the pane
Published 14 Nov, 2008 12:00am
Construction of apartments in I-15 to start in three months: CDA chief

Construction of apartments in I-15 to start in three months: CDA chief

Capital Development Authority (CDA) Chairman Tariq Mehmood has said that construction work on 8,000 apartments in I-15 sector will start during next three months. Talking to PTV, he hoped that 8,000 new housing units would be ready for accommodation in th
Published 14 Nov, 2008 12:00am
Workshop for air hostesses, stewards held

Workshop for air hostesses, stewards held

A three-day Punjab Emergency Service (Rescue 1122) sponsored community awareness workshop for air hostesses and stewards concluded on Thursday. The workshop was conducted to create awareness for effective management of emergencies in case of any emergency
Published 14 Nov, 2008 12:00am
All set to observe first martyrdom anniversary of Benazir

All set to observe first martyrdom anniversary of Benazir

The Central Executive Committee (CEC) of Pakistan Peoples Party (PPP) has finalised the preparations to observe first martyrdom anniversary of slain party leader Benazir Bhutto on December 27. It will be holiday. The CEC met here at Prime Minister House o
Published 14 Nov, 2008 12:00am
World likely to be freed from ozone-depleting substances by January 2010

World likely to be freed from ozone-depleting substances by January 2010

The world has been cleaned from 85 per cent of the ozone-depleting substances (ODS), while remaining 15 per cent will be eliminated by January 2010. This was stated by Federal Environment Minister, Hameed Ullah Jan Afridi, while addressing a seminar organ
Published 14 Nov, 2008 12:00am
Moot on global financial crisis on November 22

Moot on global financial crisis on November 22

Prominent speakers from various financial and business organisations are confirming their participation to deliver important speeches/presentations at the Conference on "Impact of Global/US Financial Crisis in Pakistan" being held on November 22, 2008.
Published 14 Nov, 2008 12:00am
Citi employees celebrate Global Community Day

Citi employees celebrate Global Community Day

Citi employees joined together in volunteer service to celebrate the third Global Community Day recently. Employees from 100 countries and 600 cities participated in over a thousand volunteer events across the world. Citi Pakistan employees in Karachi, Is
Published 14 Nov, 2008 12:00am
Professor Khurshid refuses to attend Nato commander's briefing

Professor Khurshid refuses to attend Nato commander's briefing

Professor Khurshid Ahmad on Thursday refused to attend the briefing of General David McKieran of Nato saying, 'he felt uncomfortable about a Nato commander briefing the Parliamentarians at the residence of US Ambassador.' Anne W Patterson, the US Ambassad
Published 14 Nov, 2008 12:00am
KESC's Rs 16 billion loss to be discussed on November 29

KESC's Rs 16 billion loss to be discussed on November 29

The Karachi Electric Supply Company (KESC)'s yearly loss of Rs 16 billion of the fiscal year 2007-08 would be discussed in the annual General Meeting to be held on November 29, Choudhary Mazhar, general secretary KESC Share Holders Association stated in a
Published 14 Nov, 2008 12:00am
GCU donates relief goods to quake victims

GCU donates relief goods to quake victims

The Vice Chancellor GC University Lahore Dr Khalid Aftab handed over relief goods worth one million Rupees to DCO Lahore for the earthquake affected people of Balochistan in a ceremony arranged at the GCU campus today. These relief goods have been gathere
Published 14 Nov, 2008 12:00am
Law and order conditions inhibiting industrial sector progress

Law and order conditions inhibiting industrial sector progress

The Ministry of Industries and Production has, reportedly, conveyed its deep concern to the relevant quarters on several occasions that the industrial sector is unlikely to flourish until law and order situation improves.
Published 14 Nov, 2008 12:00am
SBP criticised for raising discount rate

SBP criticised for raising discount rate

The Piaf-Founders Alliance has strongly criticised the State Bank of Pakistan for making another two percent increase in discount rate, and termed it an anti-industry step. Piaf-Founder Alliance leader Sheikh Mohammad Arshad stated this while addressing a
Published 14 Nov, 2008 12:00am
'Rains in northern areas good for NWFP, Punjab Barani area crops'

'Rains in northern areas good for NWFP, Punjab Barani area crops'

The rain and snowfall on Thursday night in northern parts of the country will be a good dose for the wheat crop in Barani areas of Punjab, NWFP and now farmers are in a position of late sowing. The last night thunderstorm and rainfall also brought the mer
Published 14 Nov, 2008 12:00am
Hoax bomb call creates panic in LHC

Hoax bomb call creates panic in LHC

A hoax bomb call stirred panic in Lahore High Court and bar premises here on Thursday. As per detail, the police rescue-15 received a call about presence of bomb in LHC building. After the call, bomb disposal squad was called in, which searched almost all
Published 14 Nov, 2008 12:00am
Black marketeers at railway stations fleecing masses

Black marketeers at railway stations fleecing masses

Black marketers at railway stations have rolled their sleeves up to fleece the masses, as the authorities of Pakistan Railways (PR) on Thursday started advance booking for Eid-ul-Azha. The railway officials were not performing their duties scrupulously, t
Published 14 Nov, 2008 12:00am
Lawyers hold demonstration for judges' restoration

Lawyers hold demonstration for judges' restoration

Lawyers held protest demonstration against non-restoration of deposed judges here on Thursday inside the premises of district court. The lawyers' rally was also joined by members of civil society and PML-N activists.
Published 14 Nov, 2008 12:00am
Training course on human resource development from November 17

Training course on human resource development from November 17

Pakistan Manpower Institute (PMI) would organise a training course on Integrated Approach to Human Resource Development from November 17 to 22. The course is aimed at providing an insight to the participants on the development of integrated approach to hu
Published 14 Nov, 2008 12:00am
Owais vows early recovery of Iranian diplomat

Owais vows early recovery of Iranian diplomat

Governor NWFP Owais Ahmed Ghani has strongly condemned kidnapping of Iranian Commercial Attache and killing of his gunman in Peshawar on Thursday and has expressed his heartfelt grief and sorrow over the tragic incident. In a condolence message issued her
Published 14 Nov, 2008 12:00am
Violence against women on the rise in Punjab

Violence against women on the rise in Punjab

Incidents of violence against women have increased in Punjab during the third quarter of the year (from July to September), as almost double number of cases of violence have been reported during the period as compared to the second quarter of the year.
Published 14 Nov, 2008 12:00am
Students' future in limbo as IT teachers await contract renewal

Students' future in limbo as IT teachers await contract renewal

Hundreds of class 9 and 10 students from the Punjab government schools who had opted for computer studies are worried about the unavailability of teachers. The information technology (IT) teachers in the Punjab government schools were employed on contract
Published 14 Nov, 2008 12:00am
Punjab University and PARC to collaborate in agriculture research

Punjab University and PARC to collaborate in agriculture research

Punjab University and Pakistan Agriculture Research Council (PARC) will collaborate in the areas of mutual interest especially in agricultural research. Discussions to this effect were held between the Punjab University Vice-Chancellor Professor Dr Mujahi
Published 14 Nov, 2008 12:00am
TFC wins community service award

TFC wins community service award

The Citizens Foundation (TCF) was awarded the Community Service Award at the 5th Annual KFC Teachers Convention, held recently, for its constant endeavours to bring about an enduring change for communities with greatest need through the power of quality e
Published 14 Nov, 2008 12:00am
Private schools directed to get registered

Private schools directed to get registered

In order to bring unregistered private institutions within the legal frame work and to unify the educational system, Sindh government has instructed the private institutions in the province to get them registered as earlier as possible.
Published 14 Nov, 2008 12:00am
Inter collegiate bilingual declamation contest held

Inter collegiate bilingual declamation contest held

Inter Collegiate Bilingual Declamation Contest was held at Defence Authority Degree College for Women Ph-VII (Extn) here today. Students of leading colleges and universities of the metropolis participated in the event. Brigadier Iftikhar Arshad Khan (Retd
Published 14 Nov, 2008 12:00am
The Weather

The Weather

The weather report on Thursday (November 13, 2008) and the forecast for Friday (November 14, 2008).

Published 14 Nov, 2008 12:00am
Rabi crop: wheat to be cultivated over 1.7 million acres in Punjab

Rabi crop: wheat to be cultivated over 1.7 million acres in Punjab

Over 1.70 million acres of land would be brought under cultivation of wheat crop during Rabi season in Punjab. Official sources told Business Recorder here on Thursday. In order to attain the fixed target of wheat crop, the Agriculture department h
Published 14 Nov, 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 14 Nov, 2008 12:00am
PIA airlifts relief goods free of charge

PIA airlifts relief goods free of charge

Pakistan International Airlines (PIA) has so far airlifted 46,393 kilograms of relief supplies free of cost for the earthquake affected people of Balochistan from the airline's various domestic and international destinations. According to a PIA news relea
Published 14 Nov, 2008 12:00am
NGO's services for maternity health lauded

NGO's services for maternity health lauded

Pakistan Muslim League (PML-N) Vice President Begum Tehmina Daultana on Thursday lauded the services of an NGO for maternity health in the district. Addressing a function organised by NGO "Paiman", she said that USAID and the NGO had been working shoulder
Published 14 Nov, 2008 12:00am
Preparations for death anniversary of Benazir Bhutto underway

Preparations for death anniversary of Benazir Bhutto underway

PPP Central Executive Committee (CEC) and Federal Council (FC) have planned to observe of the forthcoming first death anniversary of Benazir Bhutto on December 27. Provincial President, PPP, Punjab, Rana Aftab Ahmed has asked all the district and Tehsil o
Published 14 Nov, 2008 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (November 13, 2008).

Published 14 Nov, 2008 12:00am
'We have right over river water flowing from India into Pakistan'

'We have right over river water flowing from India into Pakistan'

Under the Indus Basin Treaty, Pakistan has right over the water of those rivers that flow from India into Pakistan, Pakistan Muslim League (N), Spokesman Siddiq ul Farooq said here on Thursday. Talking to Voice of America (VOA), he said blocking waters to
Published 14 Nov, 2008 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (November 13, 2008).

Published 14 Nov, 2008 12:00am
Raise in discount rate may cause closure of industries: MCCI

Raise in discount rate may cause closure of industries: MCCI

President, Multan Chamber of Commerce & Industry (MCCI), Khawaja Muhammad Jalaluddin Roomi, has expressed grave concerns over the State Bank's decision to raise discount rate by 2 per cent and termed it another anti-industry conditionality of IMF describi
Published 14 Nov, 2008 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (November 13, 2008).

Published 14 Nov, 2008 12:00am
Official booked for corruption in TMA Jatoi

Official booked for corruption in TMA Jatoi

Corruption has been detected in the affairs of Tehsil Municipal Authority (TMA) Jatoi in the audit conducted by a special team of the Chief Minister Punjab. After the detection of embezzlement in accounts, a case has been registered against chief officer
Published 14 Nov, 2008 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Thursday (November 13, 2008)and for Friday (November 14, 2008).
Published 14 Nov, 2008 12:00am
Two illegally detained Kashmiris found innocent

Two illegally detained Kashmiris found innocent

The Central Bureau of Investigation (CBI) in New Delhi has told a city court that two Kashmiri youth who were arrested by the Delhi Police on terror charges were innocent. It also sought action against three officials for the illegal detention of these yo
Published 14 Nov, 2008 12:00am
Shahbaz donates Rs 10 million to NSMEHC

Shahbaz donates Rs 10 million to NSMEHC

Chief Minister Punjab Mian Shahbaz Sharif has said that young generation is the future of Pakistan and it would be unpardonable if any laxity was shown in educating and training the youths. He expressed these views while addressing a function at special e
Published 14 Nov, 2008 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (November 13, 2008).

Published 14 Nov, 2008 12:00am
World performing arts festival by Rafi Peer starts

World performing arts festival by Rafi Peer starts

25th International Rafi Peer World Performing Arts Festival organised by Rafi Peer Theater Workshop (RPTW) started on Thursday amid high security arrangements at Alhamara Cultural Complex Ghadafi Stadium, Lahore. The road leading to the venue was blocked
Published 14 Nov, 2008 12:00am
LDA spending Rs 84.8 million on construction of new road

LDA spending Rs 84.8 million on construction of new road

The Lahore Development Authority (LDA) will construct a 3.4-kilometre long new road from G.T. Road to Band Road in Bogewal area at a cost of Rs 84.8 million, under the "Lahore Roads Rehabilitation Programme." LDA Director General Shahid Mahmood disclosed
Published 14 Nov, 2008 12:00am
SECP urged to stop 'blackmailing' PAISP members

SECP urged to stop 'blackmailing' PAISP members

Professional Association of Insurance Surveyors of Pakistan (PAISP) has demand that SECP Chairman should stop blackmailing their members and renew their licenses unconditionally in the same spirit, as were practised since the years under the same law.
Published 14 Nov, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (November 13, 2008).

Published 14 Nov, 2008 12:00am
Planning Commission to discuss PRSP-II with provinces today

Planning Commission to discuss PRSP-II with provinces today

The Planning Commission is all set to take-up Poverty Reduction Strategy Programme (PRSP-II) with provinces for next five years on Friday. Sources in Punjab government revealed that the government was due to submit its PRSP about a year earlier but it del
Published 14 Nov, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (November 13, 2008).

Published 14 Nov, 2008 12:00am
Government to export one million tons of rice through Pasco

Government to export one million tons of rice through Pasco

The federal government has decided to export rice to be procured by the Pakistan Agriculture Storage and Services Corporation (Pasco) during the current season. 'We have decided to export rice through government-to-government agreements', said the Federal
Published 14 Nov, 2008 12:00am
Babar urges MPs not to be part of defaming campaign

Babar urges MPs not to be part of defaming campaign

The government on Thursday said that the parliamentarians should not be a part of any campaign to defame the politicians and political parties, as this would hurt the nascent democracy.
Published 14 Nov, 2008 12:00am
THE RUPEE: dollar lower on interbank market

THE RUPEE: dollar lower on interbank market

Bullish sentiment was seen on the interbank market on Thursday following the announcement of raise in the discount rate to bring stability in economic fundamentals, money experts said. The rupee gained 15 paisa in relation to dollar for buying at 80.40 an
Published 14 Nov, 2008 12:00am
THE RUPEE: dollar lower on interbank market

THE RUPEE: dollar lower on interbank market

Bullish sentiment was seen on the interbank market on Thursday following the announcement of raise in the discount rate to bring stability in economic fundamentals, money experts said. The rupee gained 15 paisa in relation to dollar for buying at 80.40 an
Published 14 Nov, 2008 12:00am
Police torture: Justice Dogar takes suo motu notice of Raja's death

Police torture: Justice Dogar takes suo motu notice of Raja's death

Chief Justice Abdul Hameed Dogar on Thursday took Suo Motu notice on a press report regarding protest over death of a person who was allegedly tortured to death by Deena Police (Jehlum). Chief Justice directed the DPO Jehlum to appear in person along with
Published 14 Nov, 2008 12:00am
Railways facing a deficit of Rs 28 billion: Bilour

Railways facing a deficit of Rs 28 billion: Bilour

Federal Minister for Railways Haji Gulam Ahmad Bilour has revealed that Pakistan Railways is facing a deficit of Rs 28 billion while over-draft has also been rapidly increased in the current fiscal year form Rs 23 billion to Rs 28 billion.
Published 14 Nov, 2008 12:00am
FIA DG takes up dollar scam with SBP officials

FIA DG takes up dollar scam with SBP officials

The Director General Federal Investigation Agency (FIA) Tariq Pervez on Thursday held meeting with the officials of the State Bank of Pakistan on the issue of dollar scam. The FIA chief discussed with the State Bank officials the ways how the dollars tran
Published 14 Nov, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Thursday (November 13, 2008).

Published 14 Nov, 2008 12:00am
59 employees belonging to Dera Bugti reinstated

59 employees belonging to Dera Bugti reinstated

Prime Minister Syed Yousuf Raza Gilani on Thursday announced reinstatement of 59 dismissed employees, belonging to District Dera Bugti, at Pakistan Petroleum Limited's Sui Gas Field. The decision is part of an effort to proactively address and stabilise t
Published 14 Nov, 2008 12:00am
50 percent rise in mosquito repellents' prices

50 percent rise in mosquito repellents' prices

The prices of several brands of mosquito repellent have increased by almost 50 percent because of the high demand, which has been created by the fear of becoming a dengue virus victim. The Dengue Hemorrhagic Fever (DHF) hits the country in October, and ha
Published 14 Nov, 2008 12:00am
AIOU sets up first-ever SAC with HEC collaboration

AIOU sets up first-ever SAC with HEC collaboration

Allama Iqbal Open University (AIOU) has established the first-ever Self Access Centre (SAC) in collaboration with the Higher Education Commission (HEC) at University's main campus on Thursday. In this regard, a Memorandum of Understanding (MoU) was signed
Published 14 Nov, 2008 12:00am
Kayani to raise US missile strikes with Nato

Kayani to raise US missile strikes with Nato

Army chief will visit Brussels next week for talks with senior Nato officials about US missile strikes on Pakistani soil near the Afghanistan border, the military said Thursday. The missile attacks by US drones in tribal areas, which US and Nato officials
Published 14 Nov, 2008 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 14 Nov, 2008 12:00am
Drone attacks denting Pak-US relations: foreign office

Drone attacks denting Pak-US relations: foreign office

The government said on Thursday said that the rules of engagement are very clear and US drones attacks in Pakistani tribal belt are against the international law, affecting relations between Washington and Islamabad. Foreign Office Spokesman, Muhammad Sad
Published 14 Nov, 2008 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 14 Nov, 2008 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Thursday (November 13, 2008).

Published 14 Nov, 2008 12:00am
Japanese companies: Pakistan offers to establish special economic zone

Japanese companies: Pakistan offers to establish special economic zone

Pakistan has offered setting up a special economic zone for Japanese business companies, Japanese Ambassador to Pakistan, Chihiro Atsumi was informed by Deputy Chairman Planning Commission, Salman Faruqui on Thursday. Faruqui said that Pakistan was alread
Published 14 Nov, 2008 12:00am
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