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Print - 2010-12-31
PGMEA seeks ban/duty on exports of wet blue

PGMEA seeks ban/duty on exports of wet blue

Pakistan Gloves Manufactures and Exporters Association (PGMEA) has demanded government to either completely ban wet blue export or impose 50 percent duty on its exports. A delegation of PGMEA met with Chairman Pakistan Tanners Association, Khurshid Alam t
Published 31 Dec, 2010 12:00am
Chairman PIE felicitates Gohar Ijaz

Chairman PIE felicitates Gohar Ijaz

Chairman, Punjab Industrial Estates (PIE), S.M. Tanveer has felicitated the newly appointed Chairman Board of Directors of Lahore Electric Supply Company (LESCO) Gohar Ijaz and hoped that he would work on war footing to overcome the LESCO line losses and
Published 31 Dec, 2010 12:00am
Power shortfall reduces marginally

Power shortfall reduces marginally

Power shortfall reduced marginally to 2,600MW on Thursday against 3,000MW earlier, as the gap between demand and supply came down with an increase in power generation. However, persistent shortfall has been hitting the economic activity badly in the count
Published 31 Dec, 2010 12:00am
PTCL introduces 'Business in a box' for SME sector

PTCL introduces 'Business in a box' for SME sector

PTCL has introduced another state of the art product (business in a box) for SME sector under the umbrella of its smart solutions. Giving a presentation to the SME sector Mr Noman Ashraf Senior Manager product development Islamabad said that connectivity
Published 31 Dec, 2010 12:00am
LCCI congratulates Business Panel

LCCI congratulates Business Panel

The Lahore Chamber of Commerce and Industry has felicitated the Businessmen Panel on its unmatched victory in biennial election of Federation of Pakistan Chamber of Commerce and Industry (FPCCI).
Published 31 Dec, 2010 12:00am
Marvi releases 'white paper' on corruption

Marvi releases 'white paper' on corruption

A Pakistan Muslim League-Q (PML-Q) Member National Assembly Marvi Memon on Thursday issued 'yearly white paper' on the alleged corruption in the federal and provincial governments. The "Corruption Whitepaper 2010" with the title "A Year to be Remembered f
Published 31 Dec, 2010 12:00am
'Young doctors are backbone of health system'

'Young doctors are backbone of health system'

Parliamentary Secretary Health Punjab, Dr Saeed Elahi has said that young doctors are the backbone of healthcare system and play a key role in the treatment of patients in teaching hospitals. The government is taking solid measures on priority basis for t
Published 31 Dec, 2010 12:00am
Tributes paid to outgoing IGP Punjab

Tributes paid to outgoing IGP Punjab

Glowing tributes were paid to the outgoing Inspector General of Police, Punjab Tariq Saleem Dogar for his meritorious services rendered to the police department. Addl IGPs Muhammad Wasim, Aftab Sultan, Chaudhry Tanvir Ahmad, Humayun Raza Shafi, Rafiq Hasa
Published 31 Dec, 2010 12:00am
IG Balochistan seeks durable peace for foreign investment

IG Balochistan seeks durable peace for foreign investment

Inspector General of Balochistan Police, Malik Mohammad Iqbal has said that Federal government is committed to motivate foreign entrepreneurs to invest in Balochistan, adding durable peace in the province could only guarantee huge investment here.
Published 31 Dec, 2010 12:00am
e-filing of sales tax returns: compliance ratio improving: FBR

e-filing of sales tax returns: compliance ratio improving: FBR

The Federal Board of Revenue (FBR) has found that the active and e-enrolled importers, exporters, distributors, wholesalers, retailers and service providers are not fully compliant in e-filing of sales tax returns during first quarter of 2010-2011.
Published 31 Dec, 2010 12:00am
BoI chairman briefed about FDI issues

BoI chairman briefed about FDI issues

Chairman Board of Investment (BoI), Saleem H. Mandviwalla recently visited Overseas Investors Chamber of Commerce and Industry (OICCI) to discuss the issues being faced by foreign investors in Pakistan. He met President OICCI, Ameena Saiyid OBE, members o
Published 31 Dec, 2010 12:00am
20 militants killed, 25 injured in a raid

20 militants killed, 25 injured in a raid

Helicopter gunship on Thursday pounded a militant hideout in central Kurram agency, killing at least 20 insurgents and injuring 25 others, an official said. The army launched the strike in Chinarak area of Kurram tribal region after receiving intelligence
Published 31 Dec, 2010 12:00am
Traders' community urged to call off strike

Traders' community urged to call off strike

Chief Minister, Khyber-Pakhtunkhwa, Ameer Haider Khan Hoti has asked the trading community to withdraw decision of the shutter down strike on Friday. Speaking on the floor of Khyber-Pakhtukhwa Assembly, he said that business activities have hardly restore
Published 31 Dec, 2010 12:00am
Amending blasphemy laws: JUI-F to resist any move

Amending blasphemy laws: JUI-F to resist any move

Jamait Ulema-e-Islam-F (JUI-F)'s Secretary General Senator Abdul Ghafoor Haidri Thursday vowed that his party would strongly resist any move to amend the blasphemy laws.
Published 31 Dec, 2010 12:00am
'RGST should be implemented in two phases'

'RGST should be implemented in two phases'

Former Advisor to Ministry of Finance, Ashfaque Hassan Khan suggested that Reformed General Sales Tax (RGST) should be implemented in two phases. Speaking on "Macroecon-omic management in a decentralised set up" at the final day of annual conference of Pa
Published 31 Dec, 2010 12:00am
Police releases sketches of businessman's killers

Police releases sketches of businessman's killers

Islamabad Police have released sketches of the killers of businessman and announced Rs 05 million, as bounty for the people who provide information pertaining to the murderers. Unidentified men killed Raja Muhammad Ilyas, a businessman after entering his
Published 31 Dec, 2010 12:00am
Income tax, custom duty: refund claims show growth in 2010-11

Income tax, custom duty: refund claims show growth in 2010-11

The refund claims of income tax and customs duty have shown rising trend during 2010-2011, says FBR latest quarterly report. According to the report, the FBR has undertaken a revolutionary step by setting up a Centralised Sales Tax Refund Office (CSTRO) i
Published 31 Dec, 2010 12:00am
Conference

Conference

A conference on Chemistry and its role in science is being organised by the Jinnah University for Women at its premises here from January 3. An official of the institution said on Thursday that Director General of Pakistan Science Foundation (PSF), Profes
Published 31 Dec, 2010 12:00am
Transporters back strike call given by TNR today

Transporters back strike call given by TNR today

The transporters while supporting the opposition of proposed repeal of blasphemy law, backed the strike call given by Tehreek-e-Namoos-e-Risalat (TNR) for Friday. President, Karachi Transport Ittehad (KTI), Syed Irshad Hussain Bukhari while talking to
Published 31 Dec, 2010 12:00am
Government to complete its term: Malik

Government to complete its term: Malik

Federal Minster for Interior Rehman Malik said that the government would complete its five-year term, as it has the mandate of the people. "The Government took various measures to provide relief to common people," Malik said, while talking to reporters ou
Published 31 Dec, 2010 12:00am
PPP Gwadar team meets Zardari

PPP Gwadar team meets Zardari

A delegation of Pakistan Peoples Party Gwadar led by District General Secretary Yusuf Faryadi called on the Sindh Minister for Katchi Abadis Engineer Muhammad Rafique Advocate at his office here on Thursday. The delegation apprised him about the party act
Published 31 Dec, 2010 12:00am
Karachi University announcement

Karachi University announcement

The University of Karachi on Thursday announced new dates for B.Sc, BA and MBBS annual exams which were postponed on December 28 and 29 due to a bomb blast in the varsity. The new dates of postponed papers of B.Sc part I & II, Botany II, Mathematics is Fe
Published 31 Dec, 2010 12:00am
BIEK postpones exams

BIEK postpones exams

Board of Intermediate Education, Karachi has announced on Thursday the postponement of supplementary exams due to the prevalent law and order situation. The exams, which were scheduled for December 31, 2010, would now start from January 21, 2010 (Friday).
Published 31 Dec, 2010 12:00am
Religious parties urged to withdraw strike call

Religious parties urged to withdraw strike call

Federal Minister for Religious Affairs Khurshid Shah on Thursday said the government has no plan to bring any bill in the National Assembly to amend the anti-blasphemy law. Speaking at a press conference at Sindh PPP Media Cell here, the minister appealed
Published 31 Dec, 2010 12:00am
Virtual University launches 'Lecture on Demand'

Virtual University launches 'Lecture on Demand'

Virtual University, for the first time in the history of television broadcast, presents a unique segment "Lecture on Demand". Now viewers can select and enjoy lectures of their choice. This exclusive lecture broadcast will be on every Saturday at 12:00 no
Published 31 Dec, 2010 12:00am
Four shot dead in different incidents

Four shot dead in different incidents

Four people were killed in different incidents of firing here on Thursday. A 35-year-old man was shot dead by armed assailants near Noorani Eidgah Ground in Purana Golimar. The deceased was shifted to Civil Hospital Karachi for post-mortem. Later he was i
Published 31 Dec, 2010 12:00am
Mutual funds industry grows by 5.2 percent

Mutual funds industry grows by 5.2 percent

The mutual funds industry has appreciated by 5.2 percent on month-on-month basis in November 2010 to reach at Rs 225 billion. This increase was mainly on the back of equity related funds increasing by 3.6 percent as well as Islamic income funds category r
Published 31 Dec, 2010 12:00am
Mutual funds industry grows by 5.2 percent

Mutual funds industry grows by 5.2 percent

The mutual funds industry has appreciated by 5.2 percent on month-on-month basis in November 2010 to reach at Rs 225 billion. This increase was mainly on the back of equity related funds increasing by 3.6 percent as well as Islamic income funds category r
Published 31 Dec, 2010 12:00am
Altaf, Zardari hold telephonic conversation

Altaf, Zardari hold telephonic conversation

All the reservations and complaints of Mutahida Qaumi Movement (MQM) would be resolved and Governor Sindh, Dr Ishrat-ul-Ibad and Federal Home Minister, Rehman Malik would also be sent London for dialogues within few days. This was stated by the President,
Published 31 Dec, 2010 12:00am
MQM chief asks partymen no more comments

MQM chief asks partymen no more comments

Mutahida Qaumi Movement (MQM) Chief, Altaf Hussain has directed all leaders of the party including the members of Co-ordination Committee, Senators and National and Provincial Assembly members to stop commenting over the allegations of Pakistan Muslim Lea
Published 31 Dec, 2010 12:00am
Zardari struggling to save his chair: Mumtaz

Zardari struggling to save his chair: Mumtaz

Sindh National Front (SNF) Chief and former Sindh Chief Minister Mumtaz Ali Bhutto said on Thursday that President Asif Ali Zardari is struggling to save his power chair. "Zardari is wooing MQM while other politicians are busy in fulfilling their interest
Published 31 Dec, 2010 12:00am
'EOBI striving to improve lives of working community'

'EOBI striving to improve lives of working community'

"The Emplo-yees Old Age Benefits Institution (EOBI) is a welfare organisation and is doing its level best to bring about positive change in the lives of the working community of industrial, commercial and other organisations," stated Zafar Iqbal Gondal, C
Published 31 Dec, 2010 12:00am
Call for legislation to protect consumers' rights in Sindh

Call for legislation to protect consumers' rights in Sindh

Legislation for consumers' protection should be made in Sindh on the pattern of Consumers Protection Act already introduced and implemented in the three province of the country. This was demanded by Kaukab Iqbal, Chairman Consumers Association of Pakistan
Published 31 Dec, 2010 12:00am
The Weather

The Weather

The weather report on Thursday (December 30, 2010) and the forecast for Friday (December 31, 2010).

Published 31 Dec, 2010 12:00am
No change of prime minister: Fahim

No change of prime minister: Fahim

Makhdoom Amin Fahim, Federal Minister of Commerce has said that despite the current political uncertainty, there is no possibility of change of the premiership in the country and the ruling party would complete its tenure.
Published 31 Dec, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (December 30, 2010).

Published 31 Dec, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (December 30, 2010).

Published 31 Dec, 2010 12:00am
RGST has vast scope for revenue generation: FBR

RGST has vast scope for revenue generation: FBR

The Federal Board of Revenue has observed that the Reformed General Sales Tax (RGST) has vast scope for revenue generation in the country. The FBR review for first quarter of 2010-11 revealed that it would be very difficult to drag along with such an inef
Published 31 Dec, 2010 12:00am
OGDCL approves uplift plan for Sanjaro gas field

OGDCL approves uplift plan for Sanjaro gas field

The Board of Directors (BoDs) of Oil and Gas Development Company Limited (OGDCL) has approved a development plan for Sanjaro gas field, with the capacity to produce 30 million cubic feet per day gas and 100 barrels per day condensate, that would cost $63
Published 31 Dec, 2010 12:00am
No plan to amend blasphemy law: Sumsam

No plan to amend blasphemy law: Sumsam

Minister of State for Information and Broadcasting Syed Sumsam Ali Bukhari said that the government was not considering any amendment to the blasphemy law, saying that "Namoos-e-Risalat" is a very sensitive issue. Addressing a press conference here on Tue
Published 31 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 31 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 31 Dec, 2010 12:00am
Privatisation Commission clarification

Privatisation Commission clarification

Referring to a news report published by daily, Business Recorder on December 30, 2010, titled: "Minister fires Consultant", a spokesman of the Privatisation Commission has termed the report as totally baseless and incorrect stating the no delegatio
Published 31 Dec, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (December 30, 2010).

Published 31 Dec, 2010 12:00am
President discusses political situation with Sindh cabinet members

President discusses political situation with Sindh cabinet members

President Asif Ali Zardari on Thursday night discussed the current situation as well matters pertaining to the coalition partners in the province with senior members of the Sindh Cabinet and the Pakistan People's Party (PPP) leaders.
Published 31 Dec, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (December 30, 2010).

Published 31 Dec, 2010 12:00am
NTL, Ufone sign agreement

NTL, Ufone sign agreement

Nadra Technologies Ltd (NTL) and Ufone have signed an agreement to give customers more options and places to enable them pay their utility bills at more than 11,000 'UShops' around the country. Deputy Chairman National Database and Registration Authority
Published 31 Dec, 2010 12:00am
JUI-F issues show-cause notice to Kakar: refuses to quit ministry

JUI-F issues show-cause notice to Kakar: refuses to quit ministry

Jamiat-e-Ulema Islam-Fazal (JUI-F) Federal Minister for Housing and Works Rehmatullah Kakar refused to leave the ministry and privileges, a private TV channel reported on Thursday. According to the channel, when JUI (F) chief, Moulana Fazl parted ways wit
Published 31 Dec, 2010 12:00am
Sale of adulterated milk: ICA filed in LHC against dismissal of petition

Sale of adulterated milk: ICA filed in LHC against dismissal of petition

An Inter Court Appeal (ICA) has been filed before the Lahore High Court (LHC) against dismissal of a petition against sale of adulterated packaged and loose milk. The LHC single bench had dismissed a petition filed by Watan Party through Barrister Zafarul
Published 31 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (December 30, 2010).

Published 31 Dec, 2010 12:00am
First winter rain gives boost to rabbi crops: experts

First winter rain gives boost to rabbi crops: experts

The widespread two-day rains in Punjab and Khyber Pakhtunkhawa have given boost to wheat, lintels, grams, oil seeds, fodder , vegetables and maize crops, agriculture experts told Business Recorder here on Thursday. Director General Agriculture Exte
Published 31 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (December 30, 2010).

Published 31 Dec, 2010 12:00am
PN Conference discusses operational preparedness

PN Conference discusses operational preparedness

Command and Staff Conference of Pakistan Navy (PN) on Thursday discussed different issues pertaining to operational preparedness, future plans and ongoing projects. Chief of the Naval Staff Admiral Noman Bashir presided over the conference, which was held
Published 31 Dec, 2010 12:00am
PIDE annual general meeting, conference conclude

PIDE annual general meeting, conference conclude

On the last day of the 26th annual general meeting and conference of Pakistan Institute of Development Economics (PIDE), economists and researchers read out their papers on different topics.
Published 31 Dec, 2010 12:00am
Government urged to meet looming challenge of food insecurity

Government urged to meet looming challenge of food insecurity

The government should take immediate steps to meet the looming challenge of food insecurity; otherwise it would be made impossible for the huge population of the country to manage two times meal. Food security does not mean only availability of grains in
Published 31 Dec, 2010 12:00am
THE RUPEE: dollar falls

THE RUPEE: dollar falls

The dollar fell on the interbank market on Thursday in process of trading, dealers said. The rupee gained 13 paisa in terms of the greenback for buying at 85.71 and rose by 14 paisa for selling at 85.75, they said.
Published 31 Dec, 2010 12:00am
FBR offices to remain open till late night today

FBR offices to remain open till late night today

FBR offices, banks to remain open till late Friday to collect taxes. The Regional Tax Offices of the Inland Revenue across Pakistan as well as the authorised branches of the State Bank of Pakistan and National Bank of Pakistan would remain open till late
Published 31 Dec, 2010 12:00am
THE RUPEE: dollar falls

THE RUPEE: dollar falls

The dollar fell on the interbank market on Thursday in process of trading, dealers said. The rupee gained 13 paisa in terms of the greenback for buying at 85.71 and rose by 14 paisa for selling at 85.75, they said.
Published 31 Dec, 2010 12:00am
SECP's amnesty scheme closes today

SECP's amnesty scheme closes today

The amnesty schemes launched by the Securities and Exchange Commission of Pakistan (SECP) ie the Companies Regularisation Scheme (CRS) and Companies Easy Exit Scheme (CEES) shall close on December 31 (Friday). According to a press release issued here on T
Published 31 Dec, 2010 12:00am
Electricity bills: cut in WHT benefited over 6,600 taxpayers

Electricity bills: cut in WHT benefited over 6,600 taxpayers

The reduction in rate of withholding tax on electricity bills of commercial and industrial consumers exceeding Rs 20,000 per month from 10 to 5 percent has benefited over 6,600 taxpayers during 2010-11. According to the FBR latest quarterly review, the sh
Published 31 Dec, 2010 12:00am
By floating equity linked bond: OGDC rejects PC's plan to raise funds

By floating equity linked bond: OGDC rejects PC's plan to raise funds

The Oil and Gas Development Company Limited (OGDC) has rejected Privatisation Commission's plan to raise $1.1 billion for it from international investors through 'equity linked bond' for its development projects. OGDC's latest communication to the Privati
Published 31 Dec, 2010 12:00am
By floating equity linked bond: OGDC rejects PC's plan to raise funds

By floating equity linked bond: OGDC rejects PC's plan to raise funds

The Oil and Gas Development Company Limited (OGDC) has rejected Privatisation Commission's plan to raise $1.1 billion for it from international investors through 'equity linked bond' for its development projects. OGDC's latest communication to the Privati
Published 31 Dec, 2010 12:00am
US worried by reports of Pakistan detentions: NYT

US worried by reports of Pakistan detentions: NYT

The United States is voicing concern over reports from human rights groups that Pakistan's security forces are holding thousands of political activists without charge, The New York Times reported on Thursday. Citing a State Department report to Congress l
Published 31 Dec, 2010 12:00am
US worried by reports of Pakistan detentions: NYT

US worried by reports of Pakistan detentions: NYT

The United States is voicing concern over reports from human rights groups that Pakistan's security forces are holding thousands of political activists without charge, The New York Times reported on Thursday. Citing a State Department report to Congress l
Published 31 Dec, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (December 30, 2010).

Published 31 Dec, 2010 12:00am
Government puts plan to raise gas tariff on hold

Government puts plan to raise gas tariff on hold

Federal government has put its plan of revising gas tariff on hold till the legal battle between Oil and Gas Regulatory Authority (Ogra), Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company (SSGC) in Lahore High Court (LHC) is decided,
Published 31 Dec, 2010 12:00am
Government puts plan to raise gas tariff on hold

Government puts plan to raise gas tariff on hold

Federal government has put its plan of revising gas tariff on hold till the legal battle between Oil and Gas Regulatory Authority (Ogra), Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company (SSGC) in Lahore High Court (LHC) is decided,
Published 31 Dec, 2010 12:00am
Government puts plan to raise gas tariff on hold

Government puts plan to raise gas tariff on hold

Federal government has put its plan of revising gas tariff on hold till the legal battle between Oil and Gas Regulatory Authority (Ogra), Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company (SSGC) in Lahore High Court (LHC) is decided,
Published 31 Dec, 2010 12:00am
IMF sees slow growth in 2011 for rich nations

IMF sees slow growth in 2011 for rich nations

A two-speed global recovery will extend into 2011, with developed countries growing slowly while emerging-market economies power ahead, the International Monetary Fund''s chief economist predicted on Thursday. In an interview with the lender''s online mag
Published 31 Dec, 2010 12:00am
IMF sees slow growth in 2011 for rich nations

IMF sees slow growth in 2011 for rich nations

A two-speed global recovery will extend into 2011, with developed countries growing slowly while emerging-market economies power ahead, the International Monetary Fund's chief economist predicted on Thursday. In an interview with the lender's online magaz
Published 31 Dec, 2010 12:00am