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Print - 2012-01-13
Dr Ismail appointed vice-chairman PBIT

Dr Ismail appointed vice-chairman PBIT

The Punjab government has appointed Dr Miftah Ismail as the new Vice-Chairman of the Punjab Board of Investment and Trade (PBIT). Dr Ismail has a Ph.D in Public Finance and Political Economy from the Wharton School, University of Pennsylvania. He has prev
Published 13 Jan, 2012 12:00am
Fish farmers: training course from January 16

Fish farmers: training course from January 16

Fisheries Research and Training Institute, Fisheries Department Punjab is holding a three-day training course for fish farmers on "prosperity through fish farming" from January 16 to January 18. The objective of this training is to provide essential moder
Published 13 Jan, 2012 12:00am
Industry captains set to finalise way forward on energy security

Industry captains set to finalise way forward on energy security

Industry captains are set to suggest way forward on energy security to the government, to be finalised at the APTMA Punjab office on Friday (today) with Gohar Ejaz in the chair. It may be noted that Prime Minister Yousuf Raza Gilani had desired from Gohar
Published 13 Jan, 2012 12:00am
Nisar says trust move to be resisted with full force

Nisar says trust move to be resisted with full force

Opposition leader in the National Assembly Chaudhry Nisar Ali Khan on Thursday warned the government against its possible move to pass resolution from the National Assembly in favour of President Zardari and Prime Minister Gilani as well as any vote of co
Published 13 Jan, 2012 12:00am
PTA industry: BoI wants three percent increase in tariff

PTA industry: BoI wants three percent increase in tariff

Board of Investment (BoI) is said to be using all its 'energies' for three percent increase in tariff to make local PTA industry competitive with China and India despite stiff resistance by other relevant ministries. Official documents available with B
Published 13 Jan, 2012 12:00am
Peco managing director 's most actions undone by BoDs

Peco managing director 's most actions undone by BoDs

The Board of Directors (BoDs) of Pakistan Engineering Company (Peco), a subsidiary of Ministry of Production, has reportedly undone most of the actions taken by the Managing Director, Brigadier Bilal Ahmad Khan (retired), well- informed sources told Bu
Published 13 Jan, 2012 12:00am
Lower trade volume at KSE surprises National Assembly body

Lower trade volume at KSE surprises National Assembly body

The National Assembly Standing Committee on Finance here on Thursday was surprised to hear that the traded volume of shares at the Karachi Stock Exchange (KSE) remained much lower as compared to other bourses in the region during July 2010-June 2011.
Published 13 Jan, 2012 12:00am
Power sector reforms: Hafeez admits desired results not achieved

Power sector reforms: Hafeez admits desired results not achieved

Finance Minister Dr Abdul Hafeez Shaikh has reportedly admitted that the government has not been able to achieve desired results in the power sector reforms, it is learnt. Sources said during a briefing to parliamentarians on economy, at the Ministry of F
Published 13 Jan, 2012 12:00am
PN organises 'Chinese Art, Cultural Show'

PN organises 'Chinese Art, Cultural Show'

To further cement Pakistan - China diplomatic ties, Pakistan Navy organised a traditional Chinese Art and Cultural Show in collaboration with Chinese Embassy at Bahria University Auditorium, conducted by Chinese Acrobatic Cultural Troupe from Guangdong Pr
Published 13 Jan, 2012 12:00am
Maqbool's murder case: ASWJ demands booking of Shia Ulema

Maqbool's murder case: ASWJ demands booking of Shia Ulema

Ahle Sunnat Wal Jamaat (ASWJ) formerly known as outlawed Sipah Sahaba Pakistan on Thursday demanded to the authorities to book Shia scholars Allama Mirza Yousuf, Hassan Zafar Naqvi and others in Maqbool's murder case.
Published 13 Jan, 2012 12:00am
Pakistan's foreign exchange reserves fall by $15 million

Pakistan's foreign exchange reserves fall by $15 million

The country's foreign exchange reserves fell by $15 million during the last week. The total liquid forex reserves held by the country stood at $16.901 billion as on January 6, 2012 compared with $16.917 billion a week earlier. Reserves held by the central
Published 13 Jan, 2012 12:00am
Removal of secretary defence challenged in LHC

Removal of secretary defence challenged in LHC

The removal of secretary defence, Lieutenant General Khalid Naeem Lodhi (Retd) from service was challenged in Lahore High Court (LHC) here on Thursday. The petitioner, chairman of a public interest litigation company, Mohammad & Ahmad Muhammad Azhar Siddi
Published 13 Jan, 2012 12:00am
Shujaat for harmony among state institutions

Shujaat for harmony among state institutions

President, Pakistan Muslim League (PML-Q), Chaudhry Shujaat Hussain, has said that harmony among state institutions is a pre-requisite for political stability and continuity of democracy in the country. Talking to journalists after the meeting of PML-Q's
Published 13 Jan, 2012 12:00am
Secrecy of account holders: FBR asks PBA to seek SBP governor's views

Secrecy of account holders: FBR asks PBA to seek SBP governor's views

The Federal Board of Revenue has asked Pakistan Banks Association (PBA) to approach the State Bank of Pakistan (SBP) for obtaining expert opinion of the SBP Governor on the issue of maintaining secrecy of accountholders information at the time of filing o
Published 13 Jan, 2012 12:00am
Health professionals: 'promotion cases being speedily disposed of'

Health professionals: 'promotion cases being speedily disposed of'

On the instructions of Secretary Health Punjab, Mohammad Jehanzeb, health department has started speedy disposal of promotion case of doctors, dental, surgeons, pharmacists and nurses and departmental promotion committee has given approval to promotion of
Published 13 Jan, 2012 12:00am
Alleged activist of banned LJ held

Alleged activist of banned LJ held

Crime Investigation Department (CID) of Sindh Police on Thursday claimed to have arrested an alleged member of banned outfit Lashkar Jhangvi (LJ) with weapons and high explosive material at Hub River Road. According to SP CID Mazhar Mashwani, the CID team
Published 13 Jan, 2012 12:00am
2.2 magnitude earthquake hits Karachi

2.2 magnitude earthquake hits Karachi

A 2.2 magnitude of earthquake hit Karachi on Thursday night, causing panic in public, the met office said. Talking to Business Recorder, the meteorologist of met office said the quake was a minor seismic activity of 2.2 magnitude with 10 kilometer
Published 13 Jan, 2012 12:00am
Dasti withdraws resignations from PPP and National Assembly

Dasti withdraws resignations from PPP and National Assembly

Pakistan People's Party (PPP) disgruntled member Jamshed Dasti has withdrawn his resignation from the PPP and National Assembly after assurance by President Asif Ali Zardari's sister Faryal Talpur to address his reservations. Jamshed Dasti said this, whil
Published 13 Jan, 2012 12:00am
National Assembly grieved over deaths of Pir Pagara, Mian Daultana

National Assembly grieved over deaths of Pir Pagara, Mian Daultana

The National Assembly on Thursday expressed deep sorrow on the death of Pakistan Muslim League-Functional (PML-F) Chief Pir Sahib Pagara and PPP Parliamentarian Mian Azeem Khan Daultana, paid tributes and offered fateha for eternal peace to their souls.
Published 13 Jan, 2012 12:00am
Abolishing priority to agriculture

Abolishing priority to agriculture

There was very sad news in the media on December 06 that the Ministry of Water and Power in connivance with the so-called Friends of Pakistan, has recommended abolishing age-old first priority to agriculture in the country and instead energy would be give
Published 13 Jan, 2012 12:00am
Italy fights tax evasion by 'the poor in Mercedes'

Italy fights tax evasion by 'the poor in Mercedes'

Italy's new prime minister has put his country on a strict austerity regime of spending cuts, tax hikes and tighter pensions. But Mario Monti still has one more card up his sleeve - the fight against tax evasion, another tool to cut down the debt mountain
Published 13 Jan, 2012 12:00am
Unorganised sector workers

Unorganised sector workers

Informal employment refers to employment, which occurs outside the formal legal and regulatory environment, or which fails to give workers minimum set of social protections. This is the view in the analysis published by the International Labour Organisati
Published 13 Jan, 2012 12:00am
Why penalise association of persons?

Why penalise association of persons?

The Income Tax Ordinance, 2001 (hereinafter "the Ordinance") contained progressive rates for taxing both individuals and association of persons (AOPs) until the Finance Act 2010 that imposed a flat rate of 25% tax on AOPs with retrospective effect.
Published 13 Jan, 2012 12:00am
The Weather

The Weather

The weather report on Thursday (January 12, 2012) and the forecast for Friday (January 13, 2012).

Published 13 Jan, 2012 12:00am
White heat of tension

White heat of tension

While heat of tension and anxiety permeated through the country in general and Islamabad in particular on Wednesday, the recent snow on the Maragallas shone brightly in the afternoon sun as residents shivered in sub-zero temperatures.
Published 13 Jan, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (January 12, 2012).

Published 13 Jan, 2012 12:00am
Economic costs of political instability

Economic costs of political instability

Political uncertainty has accentuated manifold in the country. Debate within political parties has been triggered in the aftermath of the political fallout of the current impasse between the PPP-led government, the judiciary and the establishment.
Published 13 Jan, 2012 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 13 Jan, 2012 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 13 Jan, 2012 12:00am
Identify 10 major retail items prone to ST evasion: FBR tells officials

Identify 10 major retail items prone to ST evasion: FBR tells officials

The Federal Board of Revenue has directed the Director General Intelligence and Investigation (I&I); FBR Member Administration and FBR Member Inland Revenue to identify 10 major retail items prone to sales tax evasion. A senior government official told <i
Published 13 Jan, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (January 12, 2012).

Published 13 Jan, 2012 12:00am
Identify 10 major retail items prone to ST evasion: FBR tells officials

Identify 10 major retail items prone to ST evasion: FBR tells officials

The Federal Board of Revenue has directed the Director General Intelligence and Investigation (I&I); FBR Member Administration and FBR Member Inland Revenue to identify 10 major retail items prone to sales tax evasion. A senior government official told <i
Published 13 Jan, 2012 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Thursday (January 12, 2012) and for Friday (January 13, 2012).
Published 13 Jan, 2012 12:00am
Identify 10 major retail items prone to ST evasion: FBR tells officials

Identify 10 major retail items prone to ST evasion: FBR tells officials

The Federal Board of Revenue has directed the Director General Intelligence and Investigation (I&I); FBR Member Administration and FBR Member Inland Revenue to identify 10 major retail items prone to sales tax evasion. A senior government official told <i
Published 13 Jan, 2012 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (January 12, 2012).

Published 13 Jan, 2012 12:00am
Prime Minister inaugurates Kunnar-Pasakhi Gas Pipeline Project

Prime Minister inaugurates Kunnar-Pasakhi Gas Pipeline Project

Prime Minister Syed Yousuf Raza Gilani said on Thursday that the government is responsible to provide all basic facilities to the people and the present government is fully committed to do the task and has initiated a number of development projects to fac
Published 13 Jan, 2012 12:00am
Prime Minister inaugurates Kunnar-Pasakhi Gas Pipeline Project

Prime Minister inaugurates Kunnar-Pasakhi Gas Pipeline Project

Prime Minister Syed Yousuf Raza Gilani said on Thursday that the government is responsible to provide all basic facilities to the people and the present government is fully committed to do the task and has initiated a number of development projects to fac
Published 13 Jan, 2012 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Thursday (January 12, 2012).

Published 13 Jan, 2012 12:00am
Prime Minister inaugurates Kunnar-Pasakhi Gas Pipeline Project

Prime Minister inaugurates Kunnar-Pasakhi Gas Pipeline Project

Prime Minister Syed Yousuf Raza Gilani said on Thursday that the government is responsible to provide all basic facilities to the people and the present government is fully committed to do the task and has initiated a number of development projects to fac
Published 13 Jan, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (January 12, 2012).

Published 13 Jan, 2012 12:00am
Foreign investors repatriate $450 million in five months

Foreign investors repatriate $450 million in five months

The repatriation of profit and dividend by foreign investors is increasing gradually and some $450 million were sent abroad during the first five months of the current fiscal year. "Because of global meltdown, which hit the profitability of companies, the
Published 13 Jan, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (January 12, 2012).

Published 13 Jan, 2012 12:00am
Foreign investors repatriate $450 million in five months

Foreign investors repatriate $450 million in five months

The repatriation of profit and dividend by foreign investors is increasing gradually and some $450 million were sent abroad during the first five months of the current fiscal year. "Because of global meltdown, which hit the profitability of companies, the
Published 13 Jan, 2012 12:00am
Foreign investors repatriate $450 million in five months

Foreign investors repatriate $450 million in five months

The repatriation of profit and dividend by foreign investors is increasing gradually and some $450 million were sent abroad during the first five months of the current fiscal year. "Because of global meltdown, which hit the profitability of companies, the
Published 13 Jan, 2012 12:00am
Shahab Alam made new Director General Gas

Shahab Alam made new Director General Gas

Ministry of Petroleum and Natural Resources has replaced Saeedullah Shah, Director General (DG) Gas, with Dr Shahab Alam due to his unsatisfactory performance in drafting gas policy, sources told Business Recorder. Dr Shahab Alam will take charge a
Published 13 Jan, 2012 12:00am
THE RUPEE: dollar higher

THE RUPEE: dollar higher

Dollars' purchasing for oil payments pushed the rupee down on the currency market on Thursday, money experts said. The rupee fell by 28 paisa against dollar for buying at 90.25 and came down by 30 paisa for selling at 90.30, they said.
Published 13 Jan, 2012 12:00am
Shahab Alam made new Director General Gas

Shahab Alam made new Director General Gas

Ministry of Petroleum and Natural Resources has replaced Saeedullah Shah, Director General (DG) Gas, with Dr Shahab Alam due to his unsatisfactory performance in drafting gas policy, sources told Business Recorder. Dr Shahab Alam will take charge a
Published 13 Jan, 2012 12:00am
THE RUPEE: dollar higher

THE RUPEE: dollar higher

Dollars' purchasing for oil payments pushed the rupee down on the currency market on Thursday, money experts said. The rupee fell by 28 paisa against dollar for buying at 90.25 and came down by 30 paisa for selling at 90.30, they said.
Published 13 Jan, 2012 12:00am
Shahab Alam made new Director General Gas

Shahab Alam made new Director General Gas

Ministry of Petroleum and Natural Resources has replaced Saeedullah Shah, Director General (DG) Gas, with Dr Shahab Alam due to his unsatisfactory performance in drafting gas policy, sources told Business Recorder. Dr Shahab Alam will take charge a
Published 13 Jan, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Thursday (January 12, 2012).

Published 13 Jan, 2012 12:00am
Trade flows to double by 2015: UK trade minister

Trade flows to double by 2015: UK trade minister

UK Trade Minister Lord Stephen Green has said that trade between Pakistan and the United Kingdom will double in five years. In an exclusive interview with BR Research (to be published on Monday, January 16, 2012), the UK Trade Minister said that trade bet
Published 13 Jan, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Thursday (January 12, 2012).

Published 13 Jan, 2012 12:00am
Trade flows to double by 2015: UK trade minister

Trade flows to double by 2015: UK trade minister

UK Trade Minister Lord Stephen Green has said that trade between Pakistan and the United Kingdom will double in five years. In an exclusive interview with BR Research (to be published on Monday, January 16, 2012), the UK Trade Minister said that trade bet
Published 13 Jan, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Thursday (January 12, 2012).

Published 13 Jan, 2012 12:00am
Trade flows to double by 2015: UK trade minister

Trade flows to double by 2015: UK trade minister

UK Trade Minister Lord Stephen Green has said that trade between Pakistan and the United Kingdom will double in five years. In an exclusive interview with BR Research (to be published on Monday, January 16, 2012), the UK Trade Minister said that trade bet
Published 13 Jan, 2012 12:00am
GSP Plus status to Pakistan: UK supports EC''s Proposal

GSP Plus status to Pakistan: UK supports EC''s Proposal

UK State Minister for Trade and Investment Lord Green on Thursday said that the United Kingdom strongly supported the European Commission''s proposal to extend GSP Plus status to Pakistan.
Published 13 Jan, 2012 12:00am
GSP Plus status to Pakistan: UK supports EC's Proposal

GSP Plus status to Pakistan: UK supports EC's Proposal

UK State Minister for Trade and Investment Lord Green on Thursday said that the United Kingdom strongly supported the European Commission's proposal to extend GSP Plus status to Pakistan.
Published 13 Jan, 2012 12:00am
GSP Plus status to Pakistan: UK supports EC's Proposal

GSP Plus status to Pakistan: UK supports EC's Proposal

UK State Minister for Trade and Investment Lord Green on Thursday said that the United Kingdom strongly supported the European Commission's proposal to extend GSP Plus status to Pakistan.
Published 13 Jan, 2012 12:00am
Drone strike kills four militants

Drone strike kills four militants

A US missile strike targeting a militant vehicle killed militants in Miranshah on Thursday, local security official said. It was the second drone strike in less than two days that took place in the New Adda area, 30 kilometres (18 miles) west of Miranshah
Published 13 Jan, 2012 12:00am
Drone strike kills four militants

Drone strike kills four militants

A US missile strike targeting a militant vehicle killed militants in Miranshah on Thursday, local security official said. It was the second drone strike in less than two days that took place in the New Adda area, 30 kilometres (18 miles) west of Miranshah
Published 13 Jan, 2012 12:00am
Aga Khan fights 60 million euro divorce settlement

Aga Khan fights 60 million euro divorce settlement

Racehorse billionaire and Islamic spiritual leader the Aga Khan is contesting a divorce settlement that awarded his ex-wife a record 60 million euros ($77 million), a French judicial source said Thursday. Paris-based Prince Karim, the 75-year-old head of
Published 13 Jan, 2012 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 13 Jan, 2012 12:00am
Aga Khan fights 60 million euro divorce settlement

Aga Khan fights 60 million euro divorce settlement

Racehorse billionaire and Islamic spiritual leader the Aga Khan is contesting a divorce settlement that awarded his ex-wife a record 60 million euros ($77 million), a French judicial source said Thursday. Paris-based Prince Karim, the 75-year-old head of
Published 13 Jan, 2012 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 13 Jan, 2012 12:00am
Syed Sibghatullah now new Pir Pagara

Syed Sibghatullah now new Pir Pagara

The eldest among four sons of late Syed Mardan Shah (Pir Pagara), Syed Sibghatullah Shah Rashdi succeeded his father as the new spiritual leader of the Hur clan on Thursday. Known as Raja Saein, Syed Sibghatullah Shah Rashdi became the eighth Pir Pagara o
Published 13 Jan, 2012 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 13 Jan, 2012 12:00am
Syed Sibghatullah now new Pir Pagara

Syed Sibghatullah now new Pir Pagara

The eldest among four sons of late Syed Mardan Shah (Pir Pagara), Syed Sibghatullah Shah Rashdi succeeded his father as the new spiritual leader of the Hur clan on Thursday. Known as Raja Saein, Syed Sibghatullah Shah Rashdi became the eighth Pir Pagara o
Published 13 Jan, 2012 12:00am
Bears dominate ISE

Bears dominate ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 9.85 points, as the Index moved from 2,390.11 to 2,380.26 points.
Published 13 Jan, 2012 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 13 Jan, 2012 12:00am
Bears dominate ISE

Bears dominate ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 9.85 points, as the Index moved from 2,390.11 to 2,380.26 points.
Published 13 Jan, 2012 12:00am
LSE index loses 13.78 points

LSE index loses 13.78 points

Mixed sentiments continued to prevail for the second consecutive day on the Lahore Stock Exchange (LSE) on Thursday where equities moved both ways and finally ended in negative zone due to lacking interest on the part of investors. The LSE-25 index was fu
Published 13 Jan, 2012 12:00am
LSE index loses 13.78 points

LSE index loses 13.78 points

Mixed sentiments continued to prevail for the second consecutive day on the Lahore Stock Exchange (LSE) on Thursday where equities moved both ways and finally ended in negative zone due to lacking interest on the part of investors. The LSE-25 index was fu
Published 13 Jan, 2012 12:00am
Majority of people supports Supreme Court decisions: poll

Majority of people supports Supreme Court decisions: poll

An overwhelming majority (62 percent) of people while showing their confidence in the Supreme Court (SC) of Pakistan has said that the court is not overstepping its mandate. According to a survey carried out by Gallup Pakistan, 62 percent of the responden
Published 13 Jan, 2012 12:00am
Majority of people supports Supreme Court decisions: poll

Majority of people supports Supreme Court decisions: poll

An overwhelming majority (62 percent) of people while showing their confidence in the Supreme Court (SC) of Pakistan has said that the court is not overstepping its mandate. According to a survey carried out by Gallup Pakistan, 62 percent of the responden
Published 13 Jan, 2012 12:00am
Haqqani files review petition

Haqqani files review petition

The Chief Justice Iftikhar Muhammad Chaudhry has constituted special bench to hear a review petition in Memogate controversy on January 17. The review petition has been filed by former Pakistan ambassador to the US Husain Haqqani. Advocate on Record Akhta
Published 13 Jan, 2012 12:00am
Haqqani files review petition

Haqqani files review petition

The Chief Justice Iftikhar Muhammad Chaudhry has constituted special bench to hear a review petition in Memogate controversy on January 17. The review petition has been filed by former Pakistan ambassador to the US Husain Haqqani. Advocate on Record Akhta
Published 13 Jan, 2012 12:00am
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