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Print - 2010-04-17
Constitution is amended, what next?

Constitution is amended, what next?

The long journey undertaken by the democratic forces to cleanse the Constitution of distortions, introduced by the dictatorial regimes of generals Ziaul Haq and Pervez Musharraf, is almost over, only a step away from its final goal. That step is the assen
Published 17 Apr, 2010 12:00am
APMA welcomes minorities' quota in Senate

APMA welcomes minorities' quota in Senate

Provincial President, All Pakistan Minorities Alliance (APMA) NWFP Prince Javed expressed gratitude to government for reserving four seats in the senate for minorities in the constitution. Addressing a press conference he thanked President Zardari, Prime
Published 17 Apr, 2010 12:00am
Judicial probe into Tirah Valley incident demanded

Judicial probe into Tirah Valley incident demanded

Prominent tribal elder Nawabzada Fazal Karim Afridi has demanded judicial inquiry into the killing of innocent and peaceful tribesmen in the air strike in inaccessible Sra Wela of Tirah Valley in Khyber Agency, few days back. The residents of the area, he
Published 17 Apr, 2010 12:00am
HBFCL introducing GHS for employees

HBFCL introducing GHS for employees

House Building Finance Corporation Limited (HBFCL) is going to introduce "Golden Handshake Scheme" (GHS) for its employees within next two months to address the overstaffing issue being confronted by the corporation. Talking to Business Recorder af
Published 17 Apr, 2010 12:00am
EPZA shows record growth of 42 percent during March

EPZA shows record growth of 42 percent during March

The exports from EPZA during the month of March 2010 show a record growth of 42 percent despite the economic recession. It indicates that Export Processing Zones Authority (EPZA) is doing well to complete its mandate to enhance the exports. In the economi
Published 17 Apr, 2010 12:00am
Ihsan Trust, IMSciences Peshawar sign loan agreement

Ihsan Trust, IMSciences Peshawar sign loan agreement

Ihsan Trust, sister organisation of Meezan Bank, signed memorandum of understanding (MoU) with the Institute of Management Sciences, Peshawar (IMSciences) regarding provision of Qarz-e-Hasana of one million rupees per annum to needy, deserving and brillia
Published 17 Apr, 2010 12:00am
Companies with no 'legal advisor': list put on SECP website

Companies with no 'legal advisor': list put on SECP website

The Securities and Exchange Commission of Pakistan (SECP) has placed a list of companies which have not yet appointed 'Legal Advisors', as required under the law on its website under the link, http://www.secp.gov.pk/notification/pdf/2010/ListofCompanies
Published 17 Apr, 2010 12:00am
15 percent rise in Karachi LTU collection of direct taxes

15 percent rise in Karachi LTU collection of direct taxes

The Large Taxpayers Unit (LTU), Karachi, has witnessed 15 percent growth in direct taxes during the current fiscal year period as compared to last year's corresponding period. According to the statistics available with Business Recorder, the LTU Karachi c
Published 17 Apr, 2010 12:00am
Possessing fake degree: LHC issues notices to MPA, ECP

Possessing fake degree: LHC issues notices to MPA, ECP

The Lahore High Court (LHC) here on Friday issued notices to a Pakistan Muslim League-Nawaz (PML-N) MPA, Tariq Mehmood Bajwa and Election Commission of Pakistan (ECP) in a petition challenging eligibility of the parliamentarian. The petition was filed by
Published 17 Apr, 2010 12:00am
Punjab investment conference in Karachi on May 3

Punjab investment conference in Karachi on May 3

Spurring investment in Punjab, the Punjab Investment Board and Trade (PIB&T) is going to organise Punjab Investment Conference 2010 on May 3, 2010. After a successful investment conference in Lahore in February 2010.
Published 17 Apr, 2010 12:00am
US official calls to join hands for pollution-free environment

US official calls to join hands for pollution-free environment

Julia Fendrick, Assistant Cultural Attache, US Embassy has said that it is our responsibility to join hands for ensuring pollution-free global environment. "Environment movement is the story of citizens, who joined hands and demanded of their respective g
Published 17 Apr, 2010 12:00am
Minister inaugurates construction work of road

Minister inaugurates construction work of road

Punjab Information Technology Minister Farooq Yousuf Ghurki has said that all resources are being utilised for providing modern healthcare, sanitation and communication facilities to the people and many development projects are being executed in this rega
Published 17 Apr, 2010 12:00am
'Pending passport applications must be cleared'

'Pending passport applications must be cleared'

National Assembly standing committee on interior on Friday said that backlog of pending 80,000 passport applications must be cleared within two weeks. The committee, which met here with Abdul Qadir Patel in the chair, directed directorate general, immigra
Published 17 Apr, 2010 12:00am
'18th Amendment to strengthen parliament'

'18th Amendment to strengthen parliament'

Provincial Minister for Population Welfare, Neelam Jabbar Chaudhry has said that 18th Amendment will strengthen parliament, democratic traditions and constitutional institutions in the country, whereas, it will further empower people and create brotherhoo
Published 17 Apr, 2010 12:00am
Government to speed up Benazir Bhutto murder probe after UN report

Government to speed up Benazir Bhutto murder probe after UN report

President's Spokesman Farhatullah Babar expressed satisfaction over the UN Commission's report regarding the assassination of Benazir Bhutto, saying that formal response would be given after thorough study of the report. He said that the report has clearl
Published 17 Apr, 2010 12:00am
SBP moot on branchless banking opens today

SBP moot on branchless banking opens today

Syed Salim Raza, Governor, State Bank of Pakistan will inaugurate the Pakistan Branchless Banking Conference at SBP Learning Resource Centre, here Saturday. The one-day conference, which is being organised by the State Bank in collaboration with UK Aid, w
Published 17 Apr, 2010 12:00am
Power outages: traders call off strike

Power outages: traders call off strike

The traders of Rawalpindi have called off shutter down strike and protest rally against load shedding after meeting with Federal Minister for Water and Power, Raja Pervez Ashraf Friday at the Rawalpindi Chamber of Commerce and Industry (RCCI). In the meet
Published 17 Apr, 2010 12:00am
VAT will add to miseries of manufacturing sector: KCCI

VAT will add to miseries of manufacturing sector: KCCI

President, Karachi Chamber of Commerce and Industry (KCCI) Abdul Majid Haji Mohammad on Friday said that imposition of Value Added Tax (VAT) will compound the miseries of manufacturing sector which already has a load of taxes on it. He also said that the
Published 17 Apr, 2010 12:00am
Gilgit-Baltistan civil judges call on LHC CJ

Gilgit-Baltistan civil judges call on LHC CJ

Four civil judges hailing from Gilgit-Baltistan here on Friday called on Chief Justice Lahore High Court (LHC) Khawaja Muhammad Sharif after completing their training at the Punjab Judicial Academy. The judges thanked the chief Justice for the cordial and
Published 17 Apr, 2010 12:00am
Lums secures top positions in 'Business Plan Competition'

Lums secures top positions in 'Business Plan Competition'

The Lahore University of Management Sciences on Friday secured first two positions at Lahore Chamber of Commerce and Industry (LCCI) "Business Plan Competition" while the third position went to Kinnaird College.
Published 17 Apr, 2010 12:00am
'Power outages ruining trade, industry and economy'

'Power outages ruining trade, industry and economy'

Business and political leaders have expressed serious reservations over the current power crisis, which has not only caused an irreparable loss to the activities of industry and trade, and the economy in the country but has also caused manifold problems f
Published 17 Apr, 2010 12:00am
Informal Indo-Pak group formed to promote peace

Informal Indo-Pak group formed to promote peace

Some former ministers of India and Pakistan formed an informal Indo-Pak group and also had a first meeting on Friday in which they exchanged views on different aspects of India Pakistan relations. Four former FMs of Pakistan including Khurshid Mahmud Kasu
Published 17 Apr, 2010 12:00am
Bangladeshi journalists meet chief minister Punjab

Bangladeshi journalists meet chief minister Punjab

A 10-member Bangladeshi delegation of media-men called on Punjab Chief Minister Muhammad Shahbaz Sharif, here on Friday. The Chief Minister said that people of Bangladesh and Pakistan had a common past and collective efforts are needed to cement bilateral
Published 17 Apr, 2010 12:00am
FUUAST convocation today

FUUAST convocation today

The Convocation of the Federal Urdu University for Arts, Science and Technology (FUUAST) will be held at Gulshan-e-Iqbal Campus here on April 17. An announcement to this effect was made by an official of the institution. Higher Education Commission (HEC)
Published 17 Apr, 2010 12:00am
Body formed to revamp cooperative system in Punjab

Body formed to revamp cooperative system in Punjab

The Punjab government has constituted a committee comprising experts of co-operative system to trash out loopholes in the existing co-operative structure and making recommendations to revamp Co-operative System in the province.
Published 17 Apr, 2010 12:00am
Chief Justice LHC disposes of suo motu proceedings

Chief Justice LHC disposes of suo motu proceedings

The Lahore High Court (LHC) Chief Justice Khawaja Muhammad Sharif here on Thursday disposed of suo motu proceedings initiated against arrest of the culprits of sodomizing and strangulating a student Muzamil. Although the culprits could not be identified o
Published 17 Apr, 2010 12:00am
ANP sees UN findings as unimpressive

ANP sees UN findings as unimpressive

Awami National Party sees the UN findings on Benazir Bhutto's killing as unimpressive and urges the nation not to take it as final word in the investigation of BB's assassination. "Undoubtedly, previous government and Musharraf are responsible for her kil
Published 17 Apr, 2010 12:00am
'Pakistan has all resources to compete in global market'

'Pakistan has all resources to compete in global market'

Pakistan has competitive enough human resource and state-of-the-art infrastructure available in the industries to compete in the global market. Locally produced building materials, tiles, home décor, fixtures/fittings are at par with international standar
Published 17 Apr, 2010 12:00am
HBL Income Fund declares third interim dividend

HBL Income Fund declares third interim dividend

The Board of Directors of HBL Asset Management Limited, the Management Company of HBL Income Fund, (the fund), in its meeting held on April 16, 2010 announced third interim bonus units for 'A' and 'B' classes of cnits and cash dividend for 'C' class units
Published 17 Apr, 2010 12:00am
HBL Income Fund declares third interim dividend

HBL Income Fund declares third interim dividend

The Board of Directors of HBL Asset Management Limited, the Management Company of HBL Income Fund, (the fund), in its meeting held on April 16, 2010 announced third interim bonus units for 'A' and 'B' classes of cnits and cash dividend for 'C' class units
Published 17 Apr, 2010 12:00am
ZONG offers low-cost internet mobile solution

ZONG offers low-cost internet mobile solution

ZONG has announced an innovative mobile Internet package - the Daily Bundle - for mobile Internet in Pakistan. The Daily Bundle service offers the most affordable and convenient package for mobile Internet which is a first in Pakistan.
Published 17 Apr, 2010 12:00am
Adnan Afridi elected NCCPL board chairman

Adnan Afridi elected NCCPL board chairman

Managing Director Karachi Stock Exchange (KSE) Adnan Afridi has been elected as chairman of the board of National Clearing Company of Pakistan Ltd. According to KSE here Friday, the election was conducted in a meeting of board of directors of NCCPL, held
Published 17 Apr, 2010 12:00am
Dr Israr's death condoled

Dr Israr's death condoled

Punjab Assembly Speaker Rana Muhammad Iqbal here on Friday went to residence of Late religious scholar Dr Israr and condoled his death with his son Asif. He termed his death as a great loss and termed his scholarly services for Islam, as unforgettable. Th
Published 17 Apr, 2010 12:00am
TDAP to streamline export of services

TDAP to streamline export of services

The Trade Development Authority of Pakistan (TDAP) for the first time is going to streamline the 'export of services', the long neglected untraditional exportable item. TDAP under its services export program, during the last one year has created a demand
Published 17 Apr, 2010 12:00am
PQFTL, PQGTL financial results approved

PQFTL, PQGTL financial results approved

The Board of Directors of Pak-Qatar Family Takaful Limited (PQFTL) and Pak-Qatar General Takaful Limited (PQGTL), Qatar sponsored dedicated Takaful companies in Pakistan, have approved the financial statement of the two companies for 2009 and appreciated
Published 17 Apr, 2010 12:00am
PQFTL, PQGTL financial results approved

PQFTL, PQGTL financial results approved

The Board of Directors of Pak-Qatar Family Takaful Limited (PQFTL) and Pak-Qatar General Takaful Limited (PQGTL), Qatar sponsored dedicated Takaful companies in Pakistan, have approved the financial statement of the two companies for 2009 and appreciated
Published 17 Apr, 2010 12:00am
Sindh to introduce five-year development plan

Sindh to introduce five-year development plan

Sindh government under a maiden 'strategic shift' is introducing a five-year development plan to achieve greater economic benefits, Sindh Chief Minister Syed Qaim Ali Shah told Sindh Assembly on Friday while presenting his government's two-year performanc
Published 17 Apr, 2010 12:00am
The Weather

The Weather

The weather report on Friday (April 16, 2010) and the forecast for Saturday (April 17, 2010).

Published 17 Apr, 2010 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 Apr, 2010 12:00am
Gilgit-Baltistan Cabinet unveiled

Gilgit-Baltistan Cabinet unveiled

Gilgit-Baltistan Chief Minister Syed Mehdi Shah on Friday unveiled the names of his Cabinet members after over four months of elections. According to the announcement, out of seven Cabinet members, six belonged to Pakistan Peoples Party and one JUI-F. The
Published 17 Apr, 2010 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 17 Apr, 2010 12:00am
FBR suspends senior tax official

FBR suspends senior tax official

The Federal Board of Revenue (FBR) has suspended a senior official of Income Tax Group (Grade-20) with effect from April 15, 2010. According to a notification issued on Friday, Sajjad Haider Khan (BS-20) Chief Facilitation and Taxpayer Education (FATE) FB
Published 17 Apr, 2010 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 17 Apr, 2010 12:00am
Jamaat-i-Islami chief calls for reviewing defence policy

Jamaat-i-Islami chief calls for reviewing defence policy

Jamaat-i-Islami chief Syed Muanwar Hasan has called for reviewing the country's defence policy and make it according to the national requirements. The present defence policy of the country only serves US interests and the government and the armed forces m
Published 17 Apr, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (April 16, 2010).

Published 17 Apr, 2010 12:00am
Parties want 19th Amendment to address demand for new provinces

Parties want 19th Amendment to address demand for new provinces

Some political parties including Pakistan Muslim League-Nawaz (PML-N), Muttahida Qaumi Movement (MQM) and Pakistan Muslim League-Q (PML-Q) wanted further amendments to the Constitution through 19th Amendment to address the controversy emerged over the ren
Published 17 Apr, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (April 16, 2010).

Published 17 Apr, 2010 12:00am
Indian shares end nine-week winning run; earnings eyed

Indian shares end nine-week winning run; earnings eyed

Indian shares closed the week lower, their first decline in 10 weeks, as they shed 0.3 percent on Friday, with Reliance Industries and outsourcers leading the decline. Energy giant Reliance Industries extended the slide and closed 0.6 percent lower at 1,0
Published 17 Apr, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (April 16, 2010).

Published 17 Apr, 2010 12:00am
Sindh Assembly keeps mum about UN report on Benazir Bhutto murder

Sindh Assembly keeps mum about UN report on Benazir Bhutto murder

Eyebrows were raised as none of the 90-plus lawmakers in the Sindh Assembly made even a slight reference to a long-awaited United Nations report on the assassination of their party chairperson, Benazir Bhutto. Whereas the provincial legislature continued
Published 17 Apr, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (April 16, 2010).

Published 17 Apr, 2010 12:00am
76 Pakistani firms to participate in China Trade Fair

76 Pakistani firms to participate in China Trade Fair

Almost 76 Pakistani companies will be participating in South Asian Commodity Fair from 6th to 10th June 2010. A 4-member delegation led by Huangshan, Vice Chairman of CCPIT, Yunnan Sub-Council, visited TDAP on Wednesday and met with Syed Mohibullah Shah t
Published 17 Apr, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (April 16, 2010).

Published 17 Apr, 2010 12:00am
Jinnah was self-made man: Jaswant

Jinnah was self-made man: Jaswant

Former Foreign Minister of India Jaswant Singh has said that he has got appreciation in Pakistan more then the criticism he faced in India by writing a book Jinnah: India-Partition-Independence. He said that relationship between India and Pakistan has imp
Published 17 Apr, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (April 16, 2010).

Published 17 Apr, 2010 12:00am
Scattered rains, dust storm likely in coming days

Scattered rains, dust storm likely in coming days

The Pakistan Meteorological Department (PMD) has forecasted scattered rains with gusty winds and dust-storms in many parts of the country during the coming days. The wheat farmers are advised to remain caution about their crop, which is already in the har
Published 17 Apr, 2010 12:00am
Jaswant not surprised over Shoaib-Sania marriage

Jaswant not surprised over Shoaib-Sania marriage

Former Indian Foreign Minister Jaswant Singh is not surprised over marriage of Shoaib Malik and Sania Mirza, as he believes that thousands Hindus on both sides of Sindh border get married with each other frequently.
Published 17 Apr, 2010 12:00am
THE RUPEE: dollar turns higher

THE RUPEE: dollar turns higher

Declining trend was witnessed on the local currency market on Friday as the rupee drifted lower in relation to the dollar, experts said. On the interbank market the rupee shed 15 paisa against dollar for buying at 84.00 and lost 16 paisa for selling at 8
Published 17 Apr, 2010 12:00am
Protest against loadshedding continues

Protest against loadshedding continues

citizens continued protest against the load shedding on Friday. The residents of Township took to the streets against long spells of load shedding. In addition to this, the industrialists from Township Industrial area also joined the citizen and held prot
Published 17 Apr, 2010 12:00am
THE RUPEE: dollar turns higher

THE RUPEE: dollar turns higher

Declining trend was witnessed on the local currency market on Friday as the rupee drifted lower in relation to the dollar, experts said. On the interbank market the rupee shed 15 paisa against dollar for buying at 84.00 and lost 16 paisa for selling at 8
Published 17 Apr, 2010 12:00am
KSE, Ismar to organise capital awareness road show in May

KSE, Ismar to organise capital awareness road show in May

Karachi Stock Exchange (Guarantee) Limited and Institute of Securities, Management & Research (Ismar) have signed an MoU to conduct training and road shows throughout Pakistan to promote capital markets and financial literacy. According to KSE here Friday
Published 17 Apr, 2010 12:00am
Argentinean envoy calls for strengthening cultural ties

Argentinean envoy calls for strengthening cultural ties

Argentinean Ambassador to Pakistan Rudolfo Martin Sevaria has called for strengthening cultural ties between Pakistan and Argentine. He was addressing a book launching ceremony here on Friday. The book, Homboy, written by Hussain Naqvi, was launched, whic
Published 17 Apr, 2010 12:00am
New development projects: AJK government allocates Rs 470 million

New development projects: AJK government allocates Rs 470 million

Under the spirit of the incumbent Prime Minister Raja Farooq Haider-led AJK government to turn the liberated territory into a true model welfare state, the Working Development Party (WDP) of the state had approved 11 mega projects for public welfare costi
Published 17 Apr, 2010 12:00am
Pakistan Navy assumes CTF-150 duties for fourth time

Pakistan Navy assumes CTF-150 duties for fourth time

Pakistan Navy has assumed duties of Combined Task Force-150 (CTF-150) for the forth time from April 15 to 31 October. Command of Combined Task Force 150 is a rotational billet amongst coalition navies and Pakistan is the only regional country to have been
Published 17 Apr, 2010 12:00am
PML (Like Minded) group organises workers' convention

PML (Like Minded) group organises workers' convention

Pakistan Muslim League (Like minded) group organised workers' convention in the city on Friday and criticised government's failure in addressing problems of the masses. Top leadership of the party including President Salim Saifullah, Secretary General Hum
Published 17 Apr, 2010 12:00am
Quetta blast condemned

Quetta blast condemned

Deputy Speaker Punjab Assembly Rana Mashhood Ahmad Khan here on Friday strongly condemned the bomb blast occurred in the civil hospital Quetta. He said that the whole nation was united in the war against terrorism. Pak Army, police and citizens were sacri
Published 17 Apr, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (April 16, 2010).

Published 17 Apr, 2010 12:00am
Funds Association of Pakistan

Funds Association of Pakistan

Mutual Funds Association has issued open-end funds daily prices for Friday (April 16, 2010)

Published 17 Apr, 2010 12:00am
Ten-member Gilgit-Baltistan cabinet announced

Ten-member Gilgit-Baltistan cabinet announced

A ten-member cabinet for Gilgit-Baltistan was announced here on Friday. Announcement to this effect was made jointly by Minister for Kashmir Affairs and Gilgit-Baltistan Mian Manzoor Ahmed Wattoo, Minister for Labour and Manpower Syed Khursheed Shah, Chie
Published 17 Apr, 2010 12:00am
Funds Association of Pakistan

Funds Association of Pakistan

Mutual Funds Association has issued open-end funds daily prices for Friday (April 16, 2010)

Published 17 Apr, 2010 12:00am
Power supply to improve within few days: Ashraf

Power supply to improve within few days: Ashraf

Minister for Water and Power Raja Pervaiz Ashraf said on Friday said the country was facing 4000 MW to 5000 MW power shortfall due to early advent of summer season and water scarcity while the current electricity production was about 10000 MW against dema
Published 17 Apr, 2010 12:00am
Funds Association of Pakistan

Funds Association of Pakistan

Mutual Funds Association has issued open-end funds daily prices for Friday (April 16, 2010)

Published 17 Apr, 2010 12:00am
Nato hails Pakistan operations against Taliban

Nato hails Pakistan operations against Taliban

Nato has welcomed Pakistan's drive against extremists and Taliban in the tribal region saying that this has been done at a great cost. Briefing newsmen ahead of the two-day Nato Foreign ministers conference taking place next week in Estonian capital Talli
Published 17 Apr, 2010 12:00am
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