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Print - 2009-10-22
C/A deficit: Don't rely on remittances alone

C/A deficit: Don't rely on remittances alone

Encouraged by a buoyant trend in home remittances in the recent past, the authorities are pondering whether or not some innovative ways to mobilise a still higher level of foreign exchange through this source could be discovered. As part of the scheme kno
Published 22 Oct, 2009 12:00am
Terrorism can only be curbed through community policing: CCPO

Terrorism can only be curbed through community policing: CCPO

Capital City Police Officer (CCPO), Muhammad Pervez Rathore, has said that the scourge of terrorism can only be combated through community policing, whereas all available resources are being utilised to ensure protection of all important institutions and
Published 22 Oct, 2009 12:00am
ASF approves Rs 12.3 million grant to FEG's 56 projects

ASF approves Rs 12.3 million grant to FEG's 56 projects

The Appraisal Panel of Agri-business Support Fund (ASF) in its nineteenth meeting, has approved grant of Rs 12.3 million to Farmers Enterprise Group (FEG) for 56 projects. There are around 560 farmers throughout Pakistan, who have the FEG membership, says
Published 22 Oct, 2009 12:00am
Punjab Assembly appoints Chaudhry Zaheer as Chairman PAC

Punjab Assembly appoints Chaudhry Zaheer as Chairman PAC

Punjab Assembly in its fourteenth session here Wednesday appointed Chaudhry Zaheer Uddin as the Chairman of the Public Accounts Committee-1. In appointment of the chairman, the house earlier saw a number of views from the legislators on the issue. Law Min
Published 22 Oct, 2009 12:00am
Rs 528.972 million embezzlement in Rawalpindi Cantt Board

Rs 528.972 million embezzlement in Rawalpindi Cantt Board

A total of Rs 528.972 million was embezzled in Cantonment Board Rawalpindi and land with an estimated cost of Rs 138,172.813 million was misused in cantonments all over the country, audit report 2008-09 with Defence Services revealed on Wednesday.
Published 22 Oct, 2009 12:00am
OUP publishes 'The Jinnah Anthology'

OUP publishes 'The Jinnah Anthology'

Oxford University Press and The Jinnah Society organised a multimedia presentation on the book The Jinnah Anthology, compiled and edited by Liaquat Merchant and Professor Sharif al Mujahid, on 15 October 2009. The Jinnah Anthology, published by Oxford Uni
Published 22 Oct, 2009 12:00am
Al-Shaymaa, NPF sign agreement

Al-Shaymaa, NPF sign agreement

The Al-Shaymaa and the National Police Foundation (NPF) have signed an agreement. An announcement here on Wednesday said that the Al-Shaymaa Private Limited has signed an exclusive contract with NPF for its vehicle tracking and anti-theft solutions, which
Published 22 Oct, 2009 12:00am
Kerry-Lugar Bill: Jamaat-i-Islami to hold referendum on October 23

Kerry-Lugar Bill: Jamaat-i-Islami to hold referendum on October 23

General Secretary Jamaat-i-Islami (JI) Liaquat Baloch has announced that JI would hold referendum through out the country on October 23 (tomorrow) on the Kerry-Lugar Bill. America wanted to take control of the country with the help of Kerry-Lugar Bill, he
Published 22 Oct, 2009 12:00am
Sugar sector not operating within a free market system: opinion survey

Sugar sector not operating within a free market system: opinion survey

This was the predominant view of economists as well as the general public in a survey carried out by Business Recorder. The Competition Commission of Pakistan (CCP) in a detailed report on the sugar sector, which was undertaken under the directives
Published 22 Oct, 2009 12:00am
QAT postponed

QAT postponed

Punjab Education Foundation has postponed its 8th regular Quality Assurance Test (QAT) which was due to start from October 26, 2009 in districts Bahawalpur, Bahawalnagar, Bhakkar, Chakwal, Chiniot, Gujrat, Jhang, Khushab, Lodhran, Lahore, Multan, Mianwali
Published 22 Oct, 2009 12:00am
Closure of educational institutions causes panic among citizens

Closure of educational institutions causes panic among citizens

Closure of educational institutions caused panic among citizens on Wednesday in Punjab in the wake of terrorist attack on Islamic University Islamabad. Majority of the parents, especially the mothers and their children, were found discussing about the rea
Published 22 Oct, 2009 12:00am
Need stressed to develop database of students studying abroad

Need stressed to develop database of students studying abroad

The government needs to develop a database of the students studying abroad in different countries so as this could become a resource for the students intending to go abroad for higher education. Abrar Hussain chief executive officer 'Dignosco' a students
Published 22 Oct, 2009 12:00am
Nawaz condoles with Attaul Haq Qasmi

Nawaz condoles with Attaul Haq Qasmi

Pakistan Muslim League-Nawaz Quaid and former Prime Minister Muhammad Nawaz Sharif, here on Wednesday visited the residence of poet and columnist Attaul Haq Qasmi to condole with him over the demise of his sister. Nawaz remained there for sometime and off
Published 22 Oct, 2009 12:00am
Minister felicitates newly elected LDA office-bearers

Minister felicitates newly elected LDA office-bearers

Provincial Food Minister Malik Nadeem Kamran has said that government will take all possible steps to improve work ability of Lahore Development Authority (LDA) employees for provision of better facilities to the citizens. He stated this while presiding o
Published 22 Oct, 2009 12:00am
Food Festival from today

Food Festival from today

To mark the 60th anniversary of Peoples Republic of China, the management of Beach Luxury Hotel, Karachi is organising the 'Flavours of China' Food Festival from Thursday (October 22 to 07 November 2009). The food festival is being celebrated in co-operat
Published 22 Oct, 2009 12:00am
The Weather

The Weather

The weather report on Wednesday (October 21, 2009) and the forecast for Thursday (October 22, 2009).

Published 22 Oct, 2009 12:00am
KESC creating artificial power shortage

KESC creating artificial power shortage

The Karachi Electric Supply Company Limited (KESC) is deliberately avoiding clearing outstanding dues of the independent power projects (IPPs), roughly about Rs 7 billion, to create artificial shortage of power in the city.
Published 22 Oct, 2009 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
'Over 55,000 people in Africa, Asia die from rabies yearly'

'Over 55,000 people in Africa, Asia die from rabies yearly'

Punjab Minister for Population Welfare, Neelam Jabbar Chaudhry, has said that rabies in humans is 100 percent preventable through prompt appropriate medical care. However, more than 55,000 people, mostly in Africa and Asia, die from rabies every year - a
Published 22 Oct, 2009 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
New polio case confirmed in Swat

New polio case confirmed in Swat

One new case of polio has been confirmed in Swat area Koza Bandi on Wednesday. According to a private news channel, quoting sources from the Health Department, confirmed that Mohammad Ibrahim, two years of age, has been tested positive for the poliovirus.
Published 22 Oct, 2009 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 22 Oct, 2009 12:00am
Government needs to ensure rational use of CNG

Government needs to ensure rational use of CNG

The government needs to ensure rational use of natural gas and minimise its wastage by standardising domestic and commercial gas appliances, instead of limiting gas supplies to compressed natural gas stations (CNG) and industries. These views were express
Published 22 Oct, 2009 12:00am
Educational institutions in Punjab to remain closed

Educational institutions in Punjab to remain closed

Punjab government has announced on Wednesday that all educational institutions in Punjab would remain closed from Thursday (today) in the interest of security of students, teachers and concerned staff, according to an official of the Punjab government.
Published 22 Oct, 2009 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 22 Oct, 2009 12:00am
Rawal Dam - a drinking water reservoir or hotbed of diseases

Rawal Dam - a drinking water reservoir or hotbed of diseases

The quality of Rawal Dam water is deteriorating alarmingly by the day, courtesy to several factors including human settlements, poultry wastes, recreational activities, deforestation, indiscriminate construction activity, erosion, sedimentation and above
Published 22 Oct, 2009 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 22 Oct, 2009 12:00am
Federal Urdu University closed till October 24

Federal Urdu University closed till October 24

According to a news release issued here on Wednesday, Federal Urdu University will remain closed till October 24, in wake of recently suicide attacks at International Islamic University Islamabad.
Published 22 Oct, 2009 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
SDC to unveils new training programme

SDC to unveils new training programme

Skill Development Council (SDC) has introduced five new training programmes in current and next months to meet the need of technical staff of manufacturing industry. This was stated by Chairman Skill Development Council Imtiaz Rastgar on Wednesday. He sai
Published 22 Oct, 2009 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
IIU received no prior threat: Dr Siddiqui

IIU received no prior threat: Dr Siddiqui

President International Islamic University, Dr Anwar Hussain Siddiqui here on Wednesday informed that the university had received no prior threat or warning regarding the attack either verbally or in written from any organisation.
Published 22 Oct, 2009 12:00am
RAG holds preview of miniatures, print making today

RAG holds preview of miniatures, print making today

The Rohtas Art Gallery (RAG) here on Wednesday previewed a series of miniature and print making work by Aisha Rahim and Saba Raza Khan. The show will be inaugurated on October 22 (today) and will continue till November 2nd with diverse ideas of both the a
Published 22 Oct, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
Disaster Management: PC on verge of resumption of five-year plans

Disaster Management: PC on verge of resumption of five-year plans

Deputy Chairman Planning Commission, Sardar Aseff Ahmed Ali has said that Planning Commission is on the verge of resumption of the five-year plans after a time span of seventeen years to address issues of Disaster Management as a sub-chapter.
Published 22 Oct, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
Ulema urge Iraninan envoy to be cautious in issuing statements

Ulema urge Iraninan envoy to be cautious in issuing statements

Ulema have urged the Iranian Ambassador to Pakistan Mashaullah Shakri to avoid issuing statements, which could affect bilateral ties. They expressed these views during a meeting with Chairman Tehrik Akhuwat-e-Islami (TAI), Allama Inayat Ali Shakir here on
Published 22 Oct, 2009 12:00am
Security zones in Islamabad being expanded: IGP

Security zones in Islamabad being expanded: IGP

Inspector General of Police (IGP), Syed Kaleem Imam has said that already existing security rings or zones in Islamabad are being enhanced so as to further ensure elaborate arrangements against terrorist elements. Talking to journalists here on Wednesday
Published 22 Oct, 2009 12:00am
Politicians should be accountable to regain peoples' trust: Hashmi

Politicians should be accountable to regain peoples' trust: Hashmi

Pakistan Muslim League-Nawaz (PML-N) leader, Makhdoom Javed Hashmi has said that politicians should make themselves accountable to regain the shattered trust of masses. Talking in a private television's programme on Wednesday the PML-N leader said that ma
Published 22 Oct, 2009 12:00am
THE RUPEE: dollar seen mixed

THE RUPEE: dollar seen mixed

The rupee did not show major change on the interbank market on Wednesday for buying and selling at 83.30 and 83.35, dealers said. Balanced demand and supply did enabled the rupee to retain its value versus the US currency, they said.
Published 22 Oct, 2009 12:00am
No longer an attractive investor destination?

No longer an attractive investor destination?

Owing to a variety of factors, Pakistan is said to be becoming an increasingly unfavourable spot for manufacturers. According to a UNDP study, Pakistan - despite being a cotton producer - fares badly in Asia Pacific region's textile exports compared to Ba
Published 22 Oct, 2009 12:00am
THE RUPEE: dollar seen mixed

THE RUPEE: dollar seen mixed

The rupee did not show major change on the interbank market on Wednesday for buying and selling at 83.30 and 83.35, dealers said. Balanced demand and supply did enabled the rupee to retain its value versus the US currency, they said.
Published 22 Oct, 2009 12:00am
FFBL meets expectations but caution ahead

FFBL meets expectations but caution ahead

Nine months profits of Fauji Fertiliser Bin Qasim jumped more than 200 percent thanks to record high DAP sales, despite a few non-operating glitches, with earnings - EPS Rs 1.93/share - well in line with market consensus. The company maintained its high p
Published 22 Oct, 2009 12:00am
Money supply dries up but better days seen ahead

Money supply dries up but better days seen ahead

So it begins. The second quarter has started off with a money squeeze. In order to meet IMF's conditions, the government massively retired its debt that it owed to the central bank - and to the surprise of many, it did not borrow further from commercial l
Published 22 Oct, 2009 12:00am
Argentine painting exhibition starts from today

Argentine painting exhibition starts from today

The embassy of Argentina is going to organise a painting exhibition from today (Thursday) in an effort to express solidarity with the people of Pakistan and to give a message of peace and harmony keeping in view the deteriorating security situation in the
Published 22 Oct, 2009 12:00am
AGP unearths Rs 356.710 million irregularities in PQA

AGP unearths Rs 356.710 million irregularities in PQA

The Auditor-General of Pakistan (AGP) has unearthed irregularities worth of Rs 356.710 million in the Port Qasim Authority (PQA) due to irregular appointment of a consultant, illegal allotment of industrial/commercial plots to the officials and their fami
Published 22 Oct, 2009 12:00am
Stockpile in undeclared godowns caused sugar scarcity

Stockpile in undeclared godowns caused sugar scarcity

A huge stockpile of sugar in the undeclared godowns of wholesalers has brought about the commodity scarcity and price surge ranging between Rs 55 and Rs 60 per kg on the retail markets, sources said on Wednesday. Whereas, despite a decline of Rs 80 per 80
Published 22 Oct, 2009 12:00am
Foreign office audit report shows huge misappropriation of funds

Foreign office audit report shows huge misappropriation of funds

The Audit Report for 2007-08 has pointed out that Rs 135.792 million payments were made to a construction contractor without maintaining measurement book. According to the audit report, the Project Director, High Security Block in the Ministry of Foreign
Published 22 Oct, 2009 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
National Assembly body on Women Development briefed on FWBL

National Assembly body on Women Development briefed on FWBL

To resolve the problems and challenges faced by First Women Bank Ltd (FWBL) and make recommendations for its effectiveness a meeting of the Sub-Committee of the National Assembly Standing Committee on Women Development was held in FWBL Head Office on Wedn
Published 22 Oct, 2009 12:00am
Lineapelle Fair: leather exporters receive orders worth $5 million

Lineapelle Fair: leather exporters receive orders worth $5 million

Pakistani exporters have received orders worth 5 million dollars for the export of finished leather in 'Lineapelle Fair', held in Italy. After a gap of seven years Pakistan had setup its 'National Pavilion' in the fair. 19 Pakistani furnished leather expo
Published 22 Oct, 2009 12:00am
FBR advised to withdraw wrong decisions taken by ADRCs

FBR advised to withdraw wrong decisions taken by ADRCs

The Auditor General of Pakistan (AG) has recommended to the Federal Board of Revenue (FBR) to withdraw all wrong decisions taken by the Alternative Dispute Resolution Committees (ADRCs) which illegally facilitated the applicants involved in tax fraud case
Published 22 Oct, 2009 12:00am
FPCCI, IUCN sign MoU

FPCCI, IUCN sign MoU

For the first time, Federation of Pakistan Chambers of commerce and Industry (FPCCI) has signed Memorandum of Understanding (MoU) with International Union for Conservation of Nature (IUCN), to minimise the environmental degradation, caused by toxic chemic
Published 22 Oct, 2009 12:00am
Operation Rah-e-Nijat: forces kill 15 terrorists in South Waziristan

Operation Rah-e-Nijat: forces kill 15 terrorists in South Waziristan

Security forces killed 15 terrorists in South Waziristan Agency (SWA) during the ongoing military assault against the terrorists of Mehsud network in 'Operation Rah-e-Nijat' (the path of salvation), while three security officials including one officer wer
Published 22 Oct, 2009 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 Oct, 2009 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
PTA chief vows to regularise cell phone services

PTA chief vows to regularise cell phone services

Chairman, Pakistan Telecommunication Authority (PTA), Dr Muhammad Yaseen on Wednesday reiterated his commitment that the authority would not allow any person or company to violate PTA laws and it is making all possible efforts to regularise the services b
Published 22 Oct, 2009 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 22 Oct, 2009 12:00am
Fauji Fertiliser posts Rs 1,307.2 million profit after tax

Fauji Fertiliser posts Rs 1,307.2 million profit after tax

Fauji Fertiliser Bin Qasim Ltd has posted Rs 1,307.208 million as profit after tax in the quarter ended September 30, 2009 as compared to after tax loss of Rs 173.851 million recorded in the same quarter in 2008. The company's earning per share was record
Published 22 Oct, 2009 12:00am
Fauji Fertiliser posts Rs 1,307.2 million profit after tax

Fauji Fertiliser posts Rs 1,307.2 million profit after tax

Fauji Fertiliser Bin Qasim Ltd has posted Rs 1,307.208 million as profit after tax in the quarter ended September 30, 2009 as compared to after tax loss of Rs 173.851 million recorded in the same quarter in 2008. The company's earning per share was record
Published 22 Oct, 2009 12:00am
Turkish Prime Minister to address joint session of Parliament

Turkish Prime Minister to address joint session of Parliament

Turkish Prime Minister Recep Tayyip Erdogan will address the joint session of the Parliament of Pakistan on Monday, reliable sources told Business Recorder on Wednesday. According to the sources, the Turkish Prime Minister in his address would high
Published 22 Oct, 2009 12:00am
Peshawar turning into 'ghost city'

Peshawar turning into 'ghost city'

The wave of bombings has snatched the busy bazaars of Peshawar of their traditional hustle and bustle and they are wearing a deserted look in the wake of the devastated explosions. The government officials and agencies are attributing the renewed series o
Published 22 Oct, 2009 12:00am
Four US nationals detained, released

Four US nationals detained, released

Islamabad Police detained four American nationals in Red Zone for carrying unlicensed arms. They were later released on the intervention of the US Embassy. Police officials at Secretariat Chowk stopped a car at security checkpoint and recovered two unlice
Published 22 Oct, 2009 12:00am
RTO registers 12 percent growth: 522,950 IT returns received

RTO registers 12 percent growth: 522,950 IT returns received

Regional Tax Office (RTO) has received some 522,950 income tax returns, depicting 12 percent growth as compared to 467,356 returns filed last year. According to statistic, made available to Business Recorder on Wednesday, sources said the departmen
Published 22 Oct, 2009 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
'Ras Al Khaimah one of the fastest growing free trade zones'

'Ras Al Khaimah one of the fastest growing free trade zones'

Ras Al Khaimah Free Trade Zone (RAK-FTZ) is one of the fastest growing and most cost-effective free trade zones of the region and is rapidly becoming the preferred business hub in the Middle East. These views were expressed by the speakers at a road show
Published 22 Oct, 2009 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
Son of French national: interim custody of minor given to Hina Jilani

Son of French national: interim custody of minor given to Hina Jilani

The Lahore High Court (LHC) here on Wednesday handed over interim custody of Umar Malik, minor son of French national woman Peggy Collin, to Hina Jilani advocate till October 26 after his father produced him in the court. The court also permitted child's
Published 22 Oct, 2009 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (October 21, 2009).

Published 22 Oct, 2009 12:00am
Torturing student: LHC disposes of petition

Torturing student: LHC disposes of petition

The Lahore High Court (LHC) disposed of a petition filed against school teachers when Executive District Officer (EDO) informed the court that two teachers have been suspended who had tortured the student. Tauqir Fatima had filed a writ petition saying th
Published 22 Oct, 2009 12:00am
Khosa, Chief Justice Iftikhar exchange hot words

Khosa, Chief Justice Iftikhar exchange hot words

Former Attorney General (AG) Latif Khan Khosa on Wednesday harangued against Chief Justice Iftikhar Muhammad Chaudhry for his unceremonious removal from the Law Ministry and requested the CJ to rescue himself from hearing his case. "Your party is in the g
Published 22 Oct, 2009 12:00am
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