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Print - 2010-05-11
Commissioner Indus Waters meets Foreign Minister

Commissioner Indus Waters meets Foreign Minister

Syed Jamait Ali Shah, Commissioner Indus Waters on Monday met with Foreign Minister Makhdoom Shah Mahmood Qureshi and discussed issues related to water and implementation of the 1960 Indus Waters Treaty between Pakistan and India.
Published 11 May, 2010 12:00am
Senate adopts resolution for implementing FATA job quota

Senate adopts resolution for implementing FATA job quota

The Senate on Monday passed a unanimous resolution in favour of Federally Administered Tribal Areas (FATA) for implementing the job quota policy and recommending other incentives to bring the region at par with other parts of the country.
Published 11 May, 2010 12:00am
First automated branch of National Savings inaugurated

First automated branch of National Savings inaugurated

The Regional Directorate of National Savings, Karachi inaugurated its first automated branch at Tariq Road, Karachi on Monday. Zafar Mohammad Shaikh, Director General National Savings was the Chief Guest. Razia Kausar, Regional Director, National Savings
Published 11 May, 2010 12:00am
Financial crisis: Minfa allocations under PSDP reduced to Rs 12 billion

Financial crisis: Minfa allocations under PSDP reduced to Rs 12 billion

Federal Minister for Food and Agriculture Nazar Muhammad Gondal on Monday said that the allocation of funds under PSDP for Ministry of Food And Agriculture (Minfa) for the year 2009-10 was Rs 17961.980 million, which were reduced to Rs 12,000 million by t
Published 11 May, 2010 12:00am
National Assembly unanimously passes Islamabad High Court Bill

National Assembly unanimously passes Islamabad High Court Bill

National Assembly on Monday unanimously passed "The Islamabad High Court Bill, 2010" for setting up of a high court for Islamabad Capital Territory. Federal Minister for Law, Justice and Parliamentary Affairs Babar Awan tabled the bill for approval in the
Published 11 May, 2010 12:00am
National interest must be supreme: Kaira

National interest must be supreme: Kaira

Provincial Minister for Finance and Planning and Development, Tanvir Ashraf Kaira, has said that a national approach is must for solving the grave challenges faced by the country and discretionary powers of the politicians as well as bureaucrats should be
Published 11 May, 2010 12:00am
'18th Amendment lays additional responsibility on provinces'

'18th Amendment lays additional responsibility on provinces'

Prime Minister Syed Yousuf Raza Gilani on Monday said that responsibilities of all the institutions have been clearly envisaged in the 18th Constitutional Amendment, which would help establish better relations among the institutions. He said this while ta
Published 11 May, 2010 12:00am
Senators take serious note of Hillary's statement

Senators take serious note of Hillary's statement

Senators from opposition and government ally JUI-F on Monday took serious note of the statement given by US Secretary of State Hillary Clinton threatening Pakistan in the garb of Faisal Shazad's involvement in the failed terror act at Times Square, in New
Published 11 May, 2010 12:00am
Role of media is that of a watchdog: US official

Role of media is that of a watchdog: US official

"Role of the media is to be a watchdog in exposing malpractices and corruption. In a civil society, information is power. In fact, media runs through all aspects of society and can play a great role in exposing corruption, and in focusing on economic deve
Published 11 May, 2010 12:00am
Indian water aggression: PMKM to take out rally on May 30

Indian water aggression: PMKM to take out rally on May 30

Pakistan Muttahida Kisan Mahaz (PMKM) has appealed to people from all segments of the society to participate in the peaceful rally announced by it, to be held on Indo-Pak border from Bedian to Ganda Singh Wala on May 30 to raise voice against Indian water
Published 11 May, 2010 12:00am
Government to invest in coal power plant in DG Khan

Government to invest in coal power plant in DG Khan

The government of Punjab will invest in 200MW coal power plant at DG Khan which will be handed over to the private sector afterwards, Consultant to Chief Minister Punjab on Economic Affairs and Vice Chairman Punjab Board of Investment and Trade (PBIT) Pir
Published 11 May, 2010 12:00am
LHC dismisses bail petition: former IGP arrested

LHC dismisses bail petition: former IGP arrested

A division bench of Lahore High Court (LHC) here Monday dismissed bail application of a former inspector general of police Mian Amin involved in a NAB reference of illegal assets. The NAB authorities arrested the accused IGP soon after the bench headed by
Published 11 May, 2010 12:00am
Baloch asks government not to impose VAT

Baloch asks government not to impose VAT

Secretary General Jamaat-i-Islami, Liaquat Baloch has asked the federal government not to impose Value Added Tax (VAT). Talking to a delegation at Mansoora on Monday he said the next budget would not bring any relief to the masses as the government would
Published 11 May, 2010 12:00am
SAI supports strike call by value-added sector

SAI supports strike call by value-added sector

Site Association of Industry (SAI) has announced their support to the May 11 (today) strike call given by value-added sector against export of yarn. The association advised its members to assemble at association office along with their work force to make
Published 11 May, 2010 12:00am
FBR considering formation of IR intelligence department

FBR considering formation of IR intelligence department

The Federal Board of Revenue (FBR) is contemplating to establish Inland Revenue Intelligence department to conduct scientific research on tax related issues. Sources told Business Recorder on Monday that it is now well settled through studies that
Published 11 May, 2010 12:00am
Railways clarification

Railways clarification

This is with reference to a news item appearing in your esteemed newspaper, alleging rupees 40 billions loss to exchequer for purchase of 150 locomotives. The news is devoid of relevant facts, motivated by vested interest and scandalous in nature. With a
Published 11 May, 2010 12:00am
Balochistan Assembly approves LG Bill

Balochistan Assembly approves LG Bill

The members of the Balochistan Assembly during Monday's session unanimously approved the Balochistan Local Government Bill 2010 and a resolution demanding protection of rights of home based workers, particularly women. Deputy Speaker Matiullah Aagha presi
Published 11 May, 2010 12:00am
Tariq joins UBL Funds Board

Tariq joins UBL Funds Board

UBL Fund Managers, one of the leading asset management companies in country, announced the appointment of Tariq Kirmani as an independent director on the Board of Directors of UBL Fund Managers. The announcement was made after the prior approval of the Se
Published 11 May, 2010 12:00am
IRSA increases water releases for Punjab and Sindh

IRSA increases water releases for Punjab and Sindh

Indus River System Authority (IRSA) has increased water releases for Punjab and Sindh provinces by 10,000 cusecs each from Monday following greater inflows in the four live rivers of the country. Sources in Punjab Irrigation department told Business Re
Published 11 May, 2010 12:00am
Fraud through messaging unearthed

Fraud through messaging unearthed

The criminals are spreading their tentacles to the cellular telephony and internet by using different tactics, virus and coded messages to transfer credits (Balance), fake and fraudulent marketing. Mobile phone users in country's thriving telecom industry
Published 11 May, 2010 12:00am
Rs 7.4 billion WHT collected in recovery drive

Rs 7.4 billion WHT collected in recovery drive

The Federal Board of Revenue (FBR) has recovered over Rs 7.4 billion withholding tax from 12,450 registered persons during tax year 2009, reflecting large-scale recovery drive on national level to improve collection in the last quarter of current fiscal y
Published 11 May, 2010 12:00am
Shipping charges issue remains unresolved

Shipping charges issue remains unresolved

Despite two meetings held with the stakeholders on ''harmonisation of scale of shipping charges'' under the chairmanship of the Secretary, Ministry of Commerce, the issue which has been lingering for the last 15 years, continues to remain unresolved. Earl
Published 11 May, 2010 12:00am
Shipping charges issue remains unresolved

Shipping charges issue remains unresolved

Despite two meetings held with the stakeholders on 'harmonisation of scale of shipping charges' under the chairmanship of the Secretary, Ministry of Commerce, the issue which has been lingering for the last 15 years, continues to remain unresolved. Early
Published 11 May, 2010 12:00am
Shipping charges issue remains unresolved

Shipping charges issue remains unresolved

Despite two meetings held with the stakeholders on 'harmonisation of scale of shipping charges' under the chairmanship of the Secretary, Ministry of Commerce, the issue which has been lingering for the last 15 years, continues to remain unresolved. Early
Published 11 May, 2010 12:00am
Shortage of electricity: wheel-jam strike observed in Balochistan

Shortage of electricity: wheel-jam strike observed in Balochistan

The Farmer Action Committee Balochistan called wheel jam strike against the shortage of electricity and blocked various parts of National Highway and parked several vehicles on Monday morning. As per details, the Farmer Action Committee Balochistan (FACB)
Published 11 May, 2010 12:00am
Shortage of electricity: wheel-jam strike observed in Balochistan

Shortage of electricity: wheel-jam strike observed in Balochistan

The Farmer Action Committee Balochistan called wheel jam strike against the shortage of electricity and blocked various parts of National Highway and parked several vehicles on Monday morning. As per details, the Farmer Action Committee Balochistan (FACB)
Published 11 May, 2010 12:00am
Shortage of electricity: wheel-jam strike observed in Balochistan

Shortage of electricity: wheel-jam strike observed in Balochistan

The Farmer Action Committee Balochistan called wheel jam strike against the shortage of electricity and blocked various parts of National Highway and parked several vehicles on Monday morning. As per details, the Farmer Action Committee Balochistan (FACB)
Published 11 May, 2010 12:00am
John Wall appointed World Bank Country director

John Wall appointed World Bank Country director

The World Bank (WB) has appointed John Wall, as its Country Director for Pakistan, replacing Yusupha B. Crookes. John Wall, an energy expert, has already served as WB Country Director for Pakistan and it would be his another term working on the post in th
Published 11 May, 2010 12:00am
John Wall appointed World Bank Country director

John Wall appointed World Bank Country director

The World Bank (WB) has appointed John Wall, as its Country Director for Pakistan, replacing Yusupha B. Crookes. John Wall, an energy expert, has already served as WB Country Director for Pakistan and it would be his another term working on the post in th
Published 11 May, 2010 12:00am
The Weather

The Weather

The weather report on Monday (May 10, 2010) and the forecast for Tuesday (May 11, 2010).

Published 11 May, 2010 12:00am
John Wall appointed World Bank Country director

John Wall appointed World Bank Country director

The World Bank (WB) has appointed John Wall, as its Country Director for Pakistan, replacing Yusupha B. Crookes. John Wall, an energy expert, has already served as WB Country Director for Pakistan and it would be his another term working on the post in th
Published 11 May, 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 11 May, 2010 12:00am
102 killed in Iraq's bloodiest day

102 killed in Iraq's bloodiest day

Twin car bombs at a factory, followed by a suicide attack against emergency workers, and co-ordinated blasts targeting security forces killed 102 people on Monday in Iraq's bloodiest day this year. Nearly 350 people were wounded in more than 20 attacks na
Published 11 May, 2010 12:00am
102 killed in Iraq's bloodiest day

102 killed in Iraq's bloodiest day

Twin car bombs at a factory, followed by a suicide attack against emergency workers, and co-ordinated blasts targeting security forces killed 102 people on Monday in Iraq's bloodiest day this year. Nearly 350 people were wounded in more than 20 attacks na
Published 11 May, 2010 12:00am
Cabinet may approve SEZs Act 2010: meeting scheduled for May 12

Cabinet may approve SEZs Act 2010: meeting scheduled for May 12

The Cabinet, scheduled to meet on Wednesday, is expected to approve, in principle, the Special Economic Zones Act 2010 in a bid to attract investment, especially by foreign companies to jumpstart the war-hit economy of Pakistan, Business Recorder h
Published 11 May, 2010 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 11 May, 2010 12:00am
Cabinet may approve SEZs Act 2010: meeting scheduled for May 12

Cabinet may approve SEZs Act 2010: meeting scheduled for May 12

The Cabinet, scheduled to meet on Wednesday, is expected to approve, in principle, the Special Economic Zones Act 2010 in a bid to attract investment, especially by foreign companies to jumpstart the war-hit economy of Pakistan, Business Recorder h
Published 11 May, 2010 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 11 May, 2010 12:00am
Cabinet may approve SEZs Act 2010: meeting scheduled for May 12

Cabinet may approve SEZs Act 2010: meeting scheduled for May 12

The Cabinet, scheduled to meet on Wednesday, is expected to approve, in principle, the Special Economic Zones Act 2010 in a bid to attract investment, especially by foreign companies to jumpstart the war-hit economy of Pakistan, Business Recorder h
Published 11 May, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
British Prime Minister stepping down as Labour leader

British Prime Minister stepping down as Labour leader

British Prime Minister Gordon Brown announced Monday he intended to stand down as Labour leader and his party would hold formal talks on a possible power-sharing deal with the Liberal Democrats. Brown said he intended to "ask the Labour party to set in tr
Published 11 May, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
British Prime Minister stepping down as Labour leader

British Prime Minister stepping down as Labour leader

British Prime Minister Gordon Brown announced Monday he intended to stand down as Labour leader and his party would hold formal talks on a possible power-sharing deal with the Liberal Democrats. Brown said he intended to "ask the Labour party to set in tr
Published 11 May, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Monday (May 10, 2010) and for Tuesday (May 11, 2010)
Published 11 May, 2010 12:00am
US embassy clarification

US embassy clarification

The US embassy in Islamabad rejects the assertions made today by a Pakistani newspaper in an article entitled the "US embassy $1bn multipurpose command complex near completion." The story is completely untrue and is replete with errors. There is no large-
Published 11 May, 2010 12:00am
US embassy clarification

US embassy clarification

The US embassy in Islamabad rejects the assertions made today by a Pakistani newspaper in an article entitled the "US embassy $1bn multipurpose command complex near completion." The story is completely untrue and is replete with errors. There is no large-
Published 11 May, 2010 12:00am
Hamesh's extradition: US Embassy receives letter

Hamesh's extradition: US Embassy receives letter

The US Embassy has received a letter from Pakistani government demanding extradition of Hamesh Khan, former Bank of Punjab head, to stand trial for his alleged involvement in Rs 9 billion fraud. Press Attache of US embassy Richard W Sneslire confirmed to
Published 11 May, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
Hamesh's extradition: US Embassy receives letter

Hamesh's extradition: US Embassy receives letter

The US Embassy has received a letter from Pakistani government demanding extradition of Hamesh Khan, former Bank of Punjab head, to stand trial for his alleged involvement in Rs 9 billion fraud. Press Attache of US embassy Richard W Sneslire confirmed to
Published 11 May, 2010 12:00am
Shaukat Tarin resigns from Senate

Shaukat Tarin resigns from Senate

Shaukat Fayaz Ahmed Tarin, member Senate tendered his resignation from the Upper House seat, said a press release issued here on Monday. Consequently his seat has become vacant in terms of Article 64 (1) of the Constitution of the Islamic Republic of Paki
Published 11 May, 2010 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
Shaukat Tarin resigns from Senate

Shaukat Tarin resigns from Senate

Shaukat Fayaz Ahmed Tarin, member Senate tendered his resignation from the Upper House seat, said a press release issued here on Monday. Consequently his seat has become vacant in terms of Article 64 (1) of the Constitution of the Islamic Republic of Paki
Published 11 May, 2010 12:00am
Fed could test term deposit offerings in June

Fed could test term deposit offerings in June

The US Federal Reserve said on Monday it could begin the first of its Term Deposit Facility offerings on a small scale as early as mid-June. The Fed said in a statement it will make up to five small-value term deposit offerings in coming months. The Fed h
Published 11 May, 2010 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
Former ABN Amro bank penalised for money-laundering: US

Former ABN Amro bank penalised for money-laundering: US

Former ABN Amro bank is paying 500 million dollars to the United States for carrying out a huge money-laundering scheme for banks and clients in blacklisted countries, US officials said Monday. "Over the course of a decade, ABN Amro assisted sanctioned co
Published 11 May, 2010 12:00am
LSE index up 11.36 points

LSE index up 11.36 points

Equities remained range-bound on Lahore Stock Exchange (LSE) on Monday but late buying in select scrips led to the positive zone amid descending transaction volume. The LSE-25 index showed improvement of 11.36 points and closed at 3228.50 points against 3
Published 11 May, 2010 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
LSE index up 11.36 points

LSE index up 11.36 points

Equities remained range-bound on Lahore Stock Exchange (LSE) on Monday but late buying in select scrips led to the positive zone amid descending transaction volume. The LSE-25 index showed improvement of 11.36 points and closed at 3228.50 points against 3
Published 11 May, 2010 12:00am
10 soldiers, 30 Taliban killed

10 soldiers, 30 Taliban killed

Ten soldiers and 30 Taliban militants were killed in a clash on Monday after the militants ambushed a military search team in Orakzai region, a government official said. In recent weeks, Pakistan has mounted an anti-militant drive after the al Qaeda-link
Published 11 May, 2010 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
10 soldiers, 30 Taliban killed

10 soldiers, 30 Taliban killed

Ten soldiers and 30 Taliban militants were killed in a clash on Monday after the militants ambushed a military search team in Orakzai region, a government official said. In recent weeks, Pakistan has mounted an anti-militant drive after the al Qaeda-link
Published 11 May, 2010 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
VAT on services: Sindh won''t give up its right to collect tax

VAT on services: Sindh won''t give up its right to collect tax

Sindh has assured the federal government to implement value-added tax (VAT) on services in line with the requirements of Finance Ministry, but would not give up its right of collection, Business Recorder has learnt. Sources said that Sindh has prep
Published 11 May, 2010 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
VAT on services: Sindh won't give up its right to collect tax

VAT on services: Sindh won't give up its right to collect tax

Sindh has assured the federal government to implement value-added tax (VAT) on services in line with the requirements of Finance Ministry, but would not give up its right of collection, Business Recorder has learnt. Sources said that Sindh has prep
Published 11 May, 2010 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
VAT on services: Sindh won't give up its right to collect tax

VAT on services: Sindh won't give up its right to collect tax

Sindh has assured the federal government to implement value-added tax (VAT) on services in line with the requirements of Finance Ministry, but would not give up its right of collection, Business Recorder has learnt. Sources said that Sindh has prep
Published 11 May, 2010 12:00am
Supreme Court adjourns RPPs case to May 31

Supreme Court adjourns RPPs case to May 31

A three-judge bench of the apex court, headed by Chief Justice Iftikhar Muhammad Chaudhry, on Monday postponed the hearing of a suo-motu notice against rental power projects (RPPs) till May 31. Appearing on notice, counsel for Pakistan Electric Power Comp
Published 11 May, 2010 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 30th April, 2010.

Published 11 May, 2010 12:00am
Supreme Court adjourns RPPs case to May 31

Supreme Court adjourns RPPs case to May 31

A three-judge bench of the apex court, headed by Chief Justice Iftikhar Muhammad Chaudhry, on Monday postponed the hearing of a suo-motu notice against rental power projects (RPPs) till May 31. Appearing on notice, counsel for Pakistan Electric Power Comp
Published 11 May, 2010 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 30th April, 2010.

Published 11 May, 2010 12:00am
Supreme Court adjourns RPPs case to May 31

Supreme Court adjourns RPPs case to May 31

A three-judge bench of the apex court, headed by Chief Justice Iftikhar Muhammad Chaudhry, on Monday postponed the hearing of a suo-motu notice against rental power projects (RPPs) till May 31. Appearing on notice, counsel for Pakistan Electric Power Comp
Published 11 May, 2010 12:00am
Reduction in evening peak demand upto 1,100 megawatts

Reduction in evening peak demand upto 1,100 megawatts

The measures proposed by the Energy Summit have resulted in reduction in evening peak demand upto 1100 MW besides curtailing demand for Saturdays upto 600-800 MW. The Ministry of Water and Power told the meeting, held on Monday to review the implementatio
Published 11 May, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
Reduction in evening peak demand upto 1,100 megawatts

Reduction in evening peak demand upto 1,100 megawatts

The measures proposed by the Energy Summit have resulted in reduction in evening peak demand upto 1100 MW besides curtailing demand for Saturdays upto 600-800 MW. The Ministry of Water and Power told the meeting, held on Monday to review the implementatio
Published 11 May, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (May 10, 2010).

Published 11 May, 2010 12:00am
Reduction in evening peak demand upto 1,100 megawatts

Reduction in evening peak demand upto 1,100 megawatts

The measures proposed by the Energy Summit have resulted in reduction in evening peak demand upto 1100 MW besides curtailing demand for Saturdays upto 600-800 MW. The Ministry of Water and Power told the meeting, held on Monday to review the implementatio
Published 11 May, 2010 12:00am
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