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Print - 2011-04-01
FBR study for deconcentration of core functions of audit, enforcement

FBR study for deconcentration of core functions of audit, enforcement

A study of the Federal Board of Revenue (FBR) has strongly recommended that the core functions of audit and enforcement must be 'de-concentrated' at the Tax Facilitation Centers (TFC) or local level for smooth functioning of the newly setup Inland Revenue
Published 01 Apr, 2011 12:00am
Direct taxes refund payment depicts decrease of 3.8 percent

Direct taxes refund payment depicts decrease of 3.8 percent

The refund payment of direct taxes has shown a decrease of 3.8 percent during the first half of (2010-2011) as compared to the corresponding period of last fiscal. The FBR quarterly review issued here on Thursday revealed that the FBR has undertaken a rev
Published 01 Apr, 2011 12:00am
Rs 928 million tax record related to banks' NPLs: FBR

Rs 928 million tax record related to banks' NPLs: FBR

The Federal Board of Revenue (FBR) Member Enforcement and Accounting, Muhammad Fayyaz Khan on Thursday said the Auditor General of Pakistan (AGP) has framed Rs 928 million audit objections on account of non-performing loans (bad debts) provisioning, which
Published 01 Apr, 2011 12:00am
Three killed in separate incidents

Three killed in separate incidents

At least three people were killed in separate incidents at different parts of metropolis on Thursday. According to details, a body was found in a gunny bag body from Naval Colony Baldia within the limits of Saeedabad police station.
Published 01 Apr, 2011 12:00am
Cut in PSDP: contracts, supplies revenue collection falls

Cut in PSDP: contracts, supplies revenue collection falls

The reduction in the size of the Public Sector Development Programme (PSDP) during 2010-2011 has direct negative impact on the withholding tax collection from contracts/supplies. According to the FBR quarterly report issued here on Thursday, withholding t
Published 01 Apr, 2011 12:00am
Sales tax collection from sugar on domestic consumption falls

Sales tax collection from sugar on domestic consumption falls

The sales tax collection from sugar on domestic consumption has shown major shortfall of 57.5 percent during the first half of 2010-2011 as compared to the same period of last fiscal, says FBR quarterly review issued on Thursday. According to the FBR anal
Published 01 Apr, 2011 12:00am
PSO gives relaxation of FAL: Oil on penalty payment

PSO gives relaxation of FAL: Oil on penalty payment

Pakistan State Oil (PSO) has agreed to extend the encashment date of international fuel supplier M/s FAL Oil's performance bond for six months after the latter has expressed willingness to pay penalties on failure to meet contractual obligations that caus
Published 01 Apr, 2011 12:00am
July-December 2010-11: cigarette remains top revenue spinner of FED

July-December 2010-11: cigarette remains top revenue spinner of FED

The cigarette remained the top revenue spinner of the federal excise duty (FED) during July-December, 2010-11, which contributed 1/3rd of the FED collection. The FBR analysis of the FED issued here on Thursday revealed that the collection from cigarettes
Published 01 Apr, 2011 12:00am
The Weather

The Weather

The weather report on Thursday (March 31, 2011) and the forecast for Friday (April 01, 2011).

Published 01 Apr, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (March 31, 2011).

Published 01 Apr, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (March 31, 2011).

Published 01 Apr, 2011 12:00am
PN War College team visits Wapda House

PN War College team visits Wapda House

A delegation of the participants of 40th PN Staff Course of Pakistan Navy War College, Lahore visited Wapda House here on Thursday, to attend the briefings related to the water and power sectors in Pakistan. The delegation was headed by Commodore Shahid S
Published 01 Apr, 2011 12:00am
Corporate sector: FBR receives 19,331 IT returns

Corporate sector: FBR receives 19,331 IT returns

The Federal Board of Revenue (FBR) has received 19,331 income tax returns from the corporate sector during first half of 2010-2011 against 17,071 returns in the same period last fiscal, reflecting a healthy increase of 2260 returns.
Published 01 Apr, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 01 Apr, 2011 12:00am
Corruption in TCP echoes in National Assembly body meeting

Corruption in TCP echoes in National Assembly body meeting

National Assembly's Standing Committee on Commerce on Thursday raised eyebrows over alleged corruption in Trading Corporation of Pakistan (TCP) and violation of PPRA Rules. The committee which met under the Chairmanship of Engineer Khurram Dastgir sought
Published 01 Apr, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 01 Apr, 2011 12:00am
19th AGM of Soneri Bank held

19th AGM of Soneri Bank held

The annual accounts of the Bank for the year ended December 31, 2010 were approved by the shareholders at the 19th A.G.M. held here on Wednesday. The meeting was chaired by Alauddin Feerasta. Soneri Bank Limited commenced operations in 1992 with a Paid-up
Published 01 Apr, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (March 31, 2011).

Published 01 Apr, 2011 12:00am
19th AGM of Soneri Bank held

19th AGM of Soneri Bank held

The annual accounts of the Bank for the year ended December 31, 2010 were approved by the shareholders at the 19th A.G.M. held here on Wednesday. The meeting was chaired by Alauddin Feerasta. Soneri Bank Limited commenced operations in 1992 with a Paid-up
Published 01 Apr, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Thursday (March 31, 2011) and for Friday (April 01, 2011).
Published 01 Apr, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (March 31, 2011).

Published 01 Apr, 2011 12:00am
Minfa department violated rules in fertiliser procurement

Minfa department violated rules in fertiliser procurement

Fertiliser Import Department (FID), a subsidiary of Ministry of Food and Agriculture, has been accused of violating fertiliser procurement guidelines in relation to a fertiliser deal. Ministry of Food and Agriculture will hold a fresh inquiry to fix the r
Published 01 Apr, 2011 12:00am
63rd AGM of MCB Bank held

63rd AGM of MCB Bank held

The 63d Annual General Meeting of the shareholders of MCB Bank Limited under the chairmanship of Aftab Ahmad Khan was held on Thursday at local hotel to transact the ordinary and special business of the Bank. The chairman informed the members that MCB com
Published 01 Apr, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Thursday (March 31, 2011).

Published 01 Apr, 2011 12:00am
63rd AGM of MCB Bank held

63rd AGM of MCB Bank held

The 63d Annual General Meeting of the shareholders of MCB Bank Limited under the chairmanship of Aftab Ahmad Khan was held on Thursday at local hotel to transact the ordinary and special business of the Bank. The chairman informed the members that MCB com
Published 01 Apr, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (March 31, 2011).

Published 01 Apr, 2011 12:00am
CSF still owes $678 million to Pakistan

CSF still owes $678 million to Pakistan

United States funded Coalition Support Fund (CSF) still owes $678 million to Pakistan as reparations for on-going military operations, sources in the Finance Ministry told Business Recorder here on Thursday. Pakistan has received $1085 million unde
Published 01 Apr, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (March 31, 2011).

Published 01 Apr, 2011 12:00am
Afghan parliamentarians demand effective implementation of ATTA

Afghan parliamentarians demand effective implementation of ATTA

Afghan parliamentarians have offered Pakistan Business Community to consider sizeable investment in the reconstruction phase of Afghanistan and have sought technical assistance in the mutually interested areas to deepen further economic co-operation.
Published 01 Apr, 2011 12:00am
Al Meezan announces interim dividends for fixed income funds

Al Meezan announces interim dividends for fixed income funds

Al Meezan Investment Management Limited (Al Meezan) has announced the third interim dividends for its three fixed income funds: Meezan Sovereign Fund (MSF) - Rs 2.10 per unit, Meezan Islamic Income Fund (MIIF) - Rs 1.75 per unit and Meezan Cash Fund (MCF)
Published 01 Apr, 2011 12:00am
Al Meezan announces interim dividends for fixed income funds

Al Meezan announces interim dividends for fixed income funds

Al Meezan Investment Management Limited (Al Meezan) has announced the third interim dividends for its three fixed income funds: Meezan Sovereign Fund (MSF) - Rs 2.10 per unit, Meezan Islamic Income Fund (MIIF) - Rs 1.75 per unit and Meezan Cash Fund (MCF)
Published 01 Apr, 2011 12:00am
THE RUPEE: dollar, euro up

THE RUPEE: dollar, euro up

The rupee moved both ways against dollar on the currency market on Thursday in process of trading, dealers said. The rupee shed eight paisa for buying and selling at 85.32 and 85.37, they said. In the fourth Asian trade yen hit a fresh 10-month low versus
Published 01 Apr, 2011 12:00am
THE RUPEE: dollar, euro up

THE RUPEE: dollar, euro up

The rupee moved both ways against dollar on the currency market on Thursday in process of trading, dealers said. The rupee shed eight paisa for buying and selling at 85.32 and 85.37, they said. In the fourth Asian trade yen hit a fresh 10-month low versus
Published 01 Apr, 2011 12:00am
Cabinet approves amendment in Schedule II Rules of Business 1973

Cabinet approves amendment in Schedule II Rules of Business 1973

The Federal cabinet has approved amendment in schedule II Rules of Business 1973 necessitated after the omission of the Concurrent Legislative List and revision of the Federal Legislative Lists, under the 18th Constitutional Amendment: The amendments appr
Published 01 Apr, 2011 12:00am
TDAP chief executive meets Sindh Governor

TDAP chief executive meets Sindh Governor

Chief Executive Trade Development Authority of Pakistan (TDAP), Tariq Puri called on Governor Sindh Dr Ishratul Ibad Khan at the Governor House on Thursday. Puri briefed him about the role of the TDAP in increasing the exports and development of trade sec
Published 01 Apr, 2011 12:00am
International award

International award

Pakistan Micro-finance Network has won Hanson Wade's Second Annual Global Microfinance Recognition Award for its innovative contribution and original work for Pakistan's microfinance industry in the category of "commitment to social performance and transp
Published 01 Apr, 2011 12:00am
SHO held for patronising gambling den

SHO held for patronising gambling den

SHO of Rizvia police station and five other gamblers have been arrested in a raid at gambling den on Thursday. According to sources, the police party, headed by SP Liaquatabad, conducted raid at gambling den within the remits of Rizvia police station.
Published 01 Apr, 2011 12:00am
Attack on Fazl's convoy: Akram blames 'poor security'

Attack on Fazl's convoy: Akram blames 'poor security'

Leader of opposition in Khyber Pakhtunkhwa Assembly and former chief minister, Akram Khan Durrani has attributed the incident to poor security, saying some elements are not ready to digest the increasing popularity of the party.
Published 01 Apr, 2011 12:00am
Tribal elder among 6 killed in Balochistan

Tribal elder among 6 killed in Balochistan

Six people including a Baloch tribal elder were killed by a remote-controlled bomb in Quar town near the Iranian border on Thursday, officials said. The fireball engulfed the car of tribal elder Reham Dil in Quar town in Balochistan province, local police
Published 01 Apr, 2011 12:00am
Women's gains to be maintained: Karzai

Women's gains to be maintained: Karzai

The advances women have made in Afghan society since the fall of the Taliban will not be lost, regardless of any reconciliation talks with the al Qaeda-linked group that brutally repressed women for years, the Afghan president told a Dallas conference Thu
Published 01 Apr, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (March 31, 2011).

Published 01 Apr, 2011 12:00am
China military seeks to build trust with neighbours

China military seeks to build trust with neighbours

China's military on Thursday promised to work at building trust with neighbouring countries following months of tensions with the US and other nations over Beijing's increasingly assertive behaviour. The pledge was contained in a government policy paper i
Published 01 Apr, 2011 12:00am
Assad takes steps towards reforms

Assad takes steps towards reforms

Syrian President Bashar al-Assad, facing a wave of protests demanding greater freedoms, took steps on Thursday towards addressing grievances including lifting emergency law and granting disenfranchised Kurds rights. Assad, who drew international criticism
Published 01 Apr, 2011 12:00am
No immunity for Libyan minister: UK

No immunity for Libyan minister: UK

Britain refused Thursday to offer Libyan Foreign Minister Moussa Koussa immunity from prosecution after his apparent defection, but said his departure would hearten rebels fighting to topple Moammar Qadhafi's regime. British Foreign Secretary William Hagu
Published 01 Apr, 2011 12:00am
Radio shines in 2010 Peabody Award winners

Radio shines in 2010 Peabody Award winners

The winners of the 2010 Peabody Awards announced Thursday include some of the biggest names in television, but the age-old medium of radio shined in this year's competition with eight awards. The awards, the oldest in broadcasting, recognise achievement a
Published 01 Apr, 2011 12:00am
Kuwait Cabinet resigns over Bahrain crisis

Kuwait Cabinet resigns over Bahrain crisis

Kuwait's Cabinet resigned on Thursday over regional turmoil, the country's official news agency said, in an apparent reference to the political unrest in neighbouring Bahrain. The state-run agency said the Cabinet resigned because of "recent local develop
Published 01 Apr, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 01 Apr, 2011 12:00am
Heavy fighting after Ouattara troops reach Abidjan

Heavy fighting after Ouattara troops reach Abidjan

Heavy weapons fire rang out in central Abidjan on Thursday after Alassane Ouattara's forces marched to the gates of Ivory Coast's main city, and his camp said incumbent Laurent Gbagbo had just hours left in power. Residents reported heavy fighting near th
Published 01 Apr, 2011 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 01 Apr, 2011 12:00am
Fed names banks that drew loans during crisis

Fed names banks that drew loans during crisis

The Federal Reserve is naming the banks that drew emergency loans during the financial crisis, offering information on its oldest lending tool for the first time in the central bank's nearly 100-year history. The Fed was compelled to take the action after
Published 01 Apr, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 01 Apr, 2011 12:00am
World trade talks on verge of failure: Lamy

World trade talks on verge of failure: Lamy

Global trade talks meant to help poor countries prosper are "on the verge of failure" due to vast differences among countries, the head of the World Trade Organisation said on Thursday. The Doha Round of world trade talks has been dogged by disagreements
Published 01 Apr, 2011 12:00am
Japan crisis drags, France wants global nuclear reform

Japan crisis drags, France wants global nuclear reform

Japan's nuclear crisis stretched to three weeks on Friday with radiation widening from a crippled power plant and scant hope of a quick resolution. France - the most nuclear-dependent in the world - called for new global nuclear rules and proposed a globa
Published 01 Apr, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 01 Apr, 2011 12:00am
India's influence must be managed: Speed

India's influence must be managed: Speed

Balancing India's commercial power with the interests of other cricket-playing nations is one of the main challenges facing the game over the next few years, according to former ICC chief executive Malcolm Speed. "Sticky Wicket", the Australian's memoir w
Published 01 Apr, 2011 12:00am
India's influence must be managed: Speed

India's influence must be managed: Speed

Balancing India's commercial power with the interests of other cricket-playing nations is one of the main challenges facing the game over the next few years, according to former ICC chief executive Malcolm Speed. "Sticky Wicket", the Australian's memoir w
Published 01 Apr, 2011 12:00am
Chinese and Koreans willing to invest in steel sector

Chinese and Koreans willing to invest in steel sector

Chinese and Korean steel manufactures are keen to invest in steel sector of Pakistan by setting up a steel mill at Kalabagh to bridge the demand-supply gap, an official said. The official said that Korean steel firm POSCO and Hong Kong based Chinese steel
Published 01 Apr, 2011 12:00am
Chinese and Koreans willing to invest in steel sector

Chinese and Koreans willing to invest in steel sector

Chinese and Korean steel manufactures are keen to invest in steel sector of Pakistan by setting up a steel mill at Kalabagh to bridge the demand-supply gap, an official said. The official said that Korean steel firm POSCO and Hong Kong based Chinese steel
Published 01 Apr, 2011 12:00am
Chinese and Koreans willing to invest in steel sector

Chinese and Koreans willing to invest in steel sector

Chinese and Korean steel manufactures are keen to invest in steel sector of Pakistan by setting up a steel mill at Kalabagh to bridge the demand-supply gap, an official said. The official said that Korean steel firm POSCO and Hong Kong based Chinese steel
Published 01 Apr, 2011 12:00am
LHC moved to order probe into Mohali match

LHC moved to order probe into Mohali match

A citizen has approached the Lahore High Court praying to the court to order an inquiry into a 'conspiracy' hatched about the cricket match between India and Pakistan. The petitioner, Muhammad Irfan Mukhtar, through his counsel Azhar Siddique, contended t
Published 01 Apr, 2011 12:00am
LHC moved to order probe into Mohali match

LHC moved to order probe into Mohali match

A citizen has approached the Lahore High Court praying to the court to order an inquiry into a 'conspiracy' hatched about the cricket match between India and Pakistan. The petitioner, Muhammad Irfan Mukhtar, through his counsel Azhar Siddique, contended t
Published 01 Apr, 2011 12:00am
Extortion in Karachi: President takes notice of reports

Extortion in Karachi: President takes notice of reports

President Asif Ali Zardari taking notice of the reports on extortion in Karachi has directed Interior Minister Rehman Malik to take measures against this menace in co-ordination with the provincial government. The president also directed for the submissio
Published 01 Apr, 2011 12:00am
Extortion in Karachi: President takes notice of reports

Extortion in Karachi: President takes notice of reports

President Asif Ali Zardari taking notice of the reports on extortion in Karachi has directed Interior Minister Rehman Malik to take measures against this menace in co-ordination with the provincial government. The president also directed for the submissio
Published 01 Apr, 2011 12:00am
Malik among three convicts pardoned by Zardari, Musharraf

Malik among three convicts pardoned by Zardari, Musharraf

Interior Minister Rehman Malik is one of the three convicts, who were granted pardon by President Asif Ali Zardari and General Pervez Musharraf (Retd). This was stated in replies submitted to the Senate. Rehman Malik on Thursday updated the House regardin
Published 01 Apr, 2011 12:00am
Malik among three convicts pardoned by Zardari, Musharraf

Malik among three convicts pardoned by Zardari, Musharraf

Interior Minister Rehman Malik is one of the three convicts, who were granted pardon by President Asif Ali Zardari and General Pervez Musharraf (Retd). This was stated in replies submitted to the Senate. Rehman Malik on Thursday updated the House regardin
Published 01 Apr, 2011 12:00am
Minfa to reopen case of wheat import scam

Minfa to reopen case of wheat import scam

Ministry of Food and Agriculture would reopen the case pertaining to wheat imported from USA at a higher rate, inflicting a $1.056 million loss on national exchequer. Director General Federal Audit said that audit department efficiently brought the case t
Published 01 Apr, 2011 12:00am
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