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Print - 2012-06-28
Passing the buck isn't the solution

Passing the buck isn't the solution

Isn't it ironic that Minister for Water and Power, Ahmad Mukhtar's severe criticism of the power sector, though fair, coincides with the elevation of Raja Pervaiz Ashraf to the office of the Prime Minister? The fact, however, is that Mukhtar can't be b
Published 28 Jun, 2012 12:00am
Official asked to submit report about Hussain Asghar

Official asked to submit report about Hussain Asghar

The apex court on Wednesday sought a report from Secretary Establishment about suspension of officer probing the Hajj corruption case, Hussain Asghar, as Inspector General of Gilgit-Baltistan who, reportedly, failed to appear before the court in the case.
Published 28 Jun, 2012 12:00am
Security to media houses: Malik calls on Prime Minister

Security to media houses: Malik calls on Prime Minister

Senior Advisor to Prime Minister on Interior, Mr Rehman Malik, called on Prime Minister Raja Pervez Ashraf at Prime Minister's House here on Wednesday. The advisor apprised the Prime Minister about provision of security to all media houses as per directiv
Published 28 Jun, 2012 12:00am
Rs 1.44 billion EOBI funds blocked for seven years: AGP

Rs 1.44 billion EOBI funds blocked for seven years: AGP

The Auditor General of Pakistan revealed that a total of Rs 1.44 billion funds of Old-Age Benefits Institution (EOBI) have been blocked for last seven years and the institute faced loss of more than Rs 721 million during this period. According to Audit Re
Published 28 Jun, 2012 12:00am
Expressway (E-35): authorities told to speed up land acquisition process

Expressway (E-35): authorities told to speed up land acquisition process

Federal Minister for Communications, Dr Arbab Alamgir Khan on Wednesday instructed the authorities concerned to speed up the process of land acquisition and distribution of compensation to the land owners for Hasanabdal-Hawalian-Mansehra Expressway (E-35)
Published 28 Jun, 2012 12:00am
Four including Amn Lashkar chief shot dead

Four including Amn Lashkar chief shot dead

Four people, including a former union council Nazim and head of Amn Lashkar local peace committee, Mohammad Fahim Khan were shot dead here on Wednesday. The Police had sent all four bullet riddled bodies to Khyber medical college for post mortem. The bodi
Published 28 Jun, 2012 12:00am
Launch of Besos: Rs 46.7 million additional expenditure incurred by PC

Launch of Besos: Rs 46.7 million additional expenditure incurred by PC

The Auditor-General of Pakistan (AGP) has taken notice of Rs 46.7 million additional expenditure incurred by the Privatisation Commission (PC) on launching Benazir Employees Stock Option Scheme (Besos) during the current fiscal year, sources said on Wedne
Published 28 Jun, 2012 12:00am
Zafrullah made vice president, GM for GCC and Levant at GlaxoSmithKline

Zafrullah made vice president, GM for GCC and Levant at GlaxoSmithKline

GlaxoSmithKline, one of the world's leading pharmaceutical company, rec-ently announced the appointment of Mohammad Zafrullah as Vice President and General Manager for GCC and Levant. In this role, Zafar will be responsible for ten countries in the Middle
Published 28 Jun, 2012 12:00am
LHC criticises MFA for complacency towards detainees

LHC criticises MFA for complacency towards detainees

The Lahore High Court here on Wednesday expressed dismay over lethargic approach of the Ministry of Foreign Affairs (MFA) in failing to confirm the nationality of 32 Pakistani detained in Afghanistan. Frustrated with the delaying tactics employed by the M
Published 28 Jun, 2012 12:00am
Babar Awan case: AGP issued notices

Babar Awan case: AGP issued notices

Adjourning contempt of court case hearing against former law minister Babar Awan, the Supreme Court issued notices to Attorney General for Pakistan in the case on Wednesday. The Supreme Court comprised Justice Aijaz Afzal and Athar Saeed. Ali Zafar, the c
Published 28 Jun, 2012 12:00am
Rabies control programme launched

Rabies control programme launched

In an effort to strengthen national and provincial programs for dog-bite and rabies control, World Health Organization (WHO) in collaboration with provincial health department has launched a 'Rabies Control Programme' The main features of this programme a
Published 28 Jun, 2012 12:00am
ST amnesty scheme deadline extended: new SRO issued

ST amnesty scheme deadline extended: new SRO issued

The Federal Board of Revenue (FBR) on Wednesday issued a new SRO for its sales tax amnesty scheme, extending its deadline till June 30 this year. The defaulters have been instructed to avail the waiver on default surcharge and penalty in illegal input tax
Published 28 Jun, 2012 12:00am
ST amnesty scheme deadline extended: new SRO issued

ST amnesty scheme deadline extended: new SRO issued

The Federal Board of Revenue (FBR) on Wednesday issued a new SRO for its sales tax amnesty scheme, extending its deadline till June 30 this year. The defaulters have been instructed to avail the waiver on default surcharge and penalty in illegal input tax
Published 28 Jun, 2012 12:00am
Lawyers observe strike in favour of Supreme Court, CJP

Lawyers observe strike in favour of Supreme Court, CJP

Lawyers of the city observed a strike to express solidarity with the Supreme Court (SC) and Chief Justice of Pakistan Iftikhar Chaudhry on Wednesday. The lawyers, protesting against 'conspiracies' which are amid at destabilising the judiciary, said that t
Published 28 Jun, 2012 12:00am
Mandokhel takes over as State Minister for PC

Mandokhel takes over as State Minister for PC

Saeed-ul-Hassan Mandokhel has taken over the charge of Minister of State for Privatisation Commission on Wednesday. The minister was briefed regarding the privatisation process and privatisation policy of the government of Pakistan.
Published 28 Jun, 2012 12:00am
PFUJ condemns attack

PFUJ condemns attack

Pakistan Federal Union of Journalists (PFUJ) has condemned the attack on Aaj News. In a statement issued here on Wednesday, PFUJ President Pervaiz Shaukat and Secretary General Amin Yousuf said such incidents showed the extent of threat faced by me
Published 28 Jun, 2012 12:00am
Rs 50 million allocated to meet flood situation

Rs 50 million allocated to meet flood situation

The government has earmarked an amount of Rs 50 million to meet any flood situation so that prompt relief activities can commence in case of emergency. This was stated by Director General Provincial Disaster Management Authority Mujahid Sherdil here on We
Published 28 Jun, 2012 12:00am
The Weather

The Weather

The weather report on Wednesday (June 27, 2012) and the forecast for Thursday (June 28, 2012).

Published 28 Jun, 2012 12:00am
Cotton growers advised to focus on better management of crop

Cotton growers advised to focus on better management of crop

Punjab Agriculture Department (PAD) has advised the cotton growers to focus on better management of the crop as effects of 16 percent water shortage in the canals of the province are visible on the crop. A spokesman of the department in an advice issued h
Published 28 Jun, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
'Women must be given right of land-inheritance'

'Women must be given right of land-inheritance'

The women of Pakistan should have equal rights of land inheritance whereas reserved seats for women in National and provincial assemblies should be increased from 17 percent to 33 percent, and should be paid based on value of their work. This was suggeste
Published 28 Jun, 2012 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 28 Jun, 2012 12:00am
Licensed agents: SRB allowed to access customs data

Licensed agents: SRB allowed to access customs data

The Federal Board of Revenue (FBR) has allowed the Sindh Revenue Board (SRB) to access the customs data along with the list of licensed customs agents to ensure proper payment of sales tax by service providers (customs agents). Sources told Business Re
Published 28 Jun, 2012 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 28 Jun, 2012 12:00am
Imran holds PPP, PML-N responsible for energy crisis

Imran holds PPP, PML-N responsible for energy crisis

Chairman, Pakistan Tehrik-e-Insaf (PTI), Imran Khan, has said that Pakistan People's Party (PPP) and Pakistan Muslim League-Nawaz (PML-N) are responsible for the prevailing energy crisis, corruption, price hike and bad governance during the last four and
Published 28 Jun, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
YDA strike continues for 10th day

YDA strike continues for 10th day

The Young Doctors Association (YDA) Punjab continued its strike against poor service structure for the 10th day on Wednesday as its members staged a demonstration outside Nishtar Hospital, Multan, DHQ Hospital Muzaffargarh. YDA is on a strike to seek impr
Published 28 Jun, 2012 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (June 27, 2012) and for Thursday (June 28, 2012).
Published 28 Jun, 2012 12:00am
Zafar Mehmood's efforts for enhancing Pakistan's trade lauded

Zafar Mehmood's efforts for enhancing Pakistan's trade lauded

Central Chairman Pakistan Readymade Garments Manufacturers & Exporters Association (Prgmea) Shehzad Salim, and Zonal Chairman Atiq A. Kochra have lauded the efforts of outgoing Commerce Secretary Zafar Mehmood for enhancing Pakistan's trade volume. They s
Published 28 Jun, 2012 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
SBP wants urea price gap eliminated

SBP wants urea price gap eliminated

The State Bank of Pakistan (SBP) has urged the government to eliminate price gap between locally produced and imported urea as domestic producers are facing trouble in selling their stocks, besides this is creating incentives for black-marketing and marke
Published 28 Jun, 2012 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
Advance tax on carryover trade omitted: KSE

Advance tax on carryover trade omitted: KSE

The Karachi Stock Exchange (KSE) on Wednesday informed that the Advance Tax in respect of financing of carryover trades in share business collected under Section 233A (1)(d) has been omitted under amendments made in the Income Tax Ordinance, 2012 which wi
Published 28 Jun, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
Advance tax on carryover trade omitted: KSE

Advance tax on carryover trade omitted: KSE

The Karachi Stock Exchange (KSE) on Wednesday informed that the Advance Tax in respect of financing of carryover trades in share business collected under Section 233A (1)(d) has been omitted under amendments made in the Income Tax Ordinance, 2012 which wi
Published 28 Jun, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
Jamaat-e-Islami flays killings in Myanmar

Jamaat-e-Islami flays killings in Myanmar

Ameer, Jamaat-e-Islami, Pakistan, Syed Munawar Hasan, has appealed to the nation to observe protest on Friday, (June 29) against the massacre of the Muslims in Myanmar Burma. He said that thousands of the Muslims in Arakan had been killed during the last
Published 28 Jun, 2012 12:00am
Taliban release video of beheaded soldiers

Taliban release video of beheaded soldiers

Taliban militants on Wednesday released a video showing severed heads of 17 soldiers who they claimed to have killed in a cross-border attack on a check post in Pakistan. The beheading, claimed by the Tehreek-e-Taliban Pakistan, took place on Sunday when
Published 28 Jun, 2012 12:00am
'US, Nato responsible for troops killings'

'US, Nato responsible for troops killings'

Secretary General, Jamaat e Islami, Liaqat Baloch, has said that the responsibility for the killings of Pakistani troops and security personnel in Upper Dir lays with the US and the Nato forces. Talking to the Hizbul Mujahideen Deputy Chief Maulana Javed
Published 28 Jun, 2012 12:00am
THE RUPEE: falling trend in interbank market

THE RUPEE: falling trend in interbank market

Bears dominated the interbank market on Wednesday as dollar's demand persisted in process of trading, dealers said. The rupee came under pressure versus the dollar, shedding 10-paisa for buying at 94.6 and it fell by 11-paisa for selling at 94.62, they sa
Published 28 Jun, 2012 12:00am
THE RUPEE: falling trend in interbank market

THE RUPEE: falling trend in interbank market

Bears dominated the interbank market on Wednesday as dollar's demand persisted in process of trading, dealers said. The rupee came under pressure versus the dollar, shedding 10-paisa for buying at 94.6 and it fell by 11-paisa for selling at 94.62, they sa
Published 28 Jun, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
West worried by China-Pakistan atomic ties?

West worried by China-Pakistan atomic ties?

Western states pressured China at closed-door talks last week to address concerns about its plans to expand a nuclear power plant in Pakistan and provide more information, but were rebuffed, two diplomatic sources said on Wednesday. Beijing's atomic relat
Published 28 Jun, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
West worried by China-Pakistan atomic ties?

West worried by China-Pakistan atomic ties?

Western states pressured China at closed-door talks last week to address concerns about its plans to expand a nuclear power plant in Pakistan and provide more information, but were rebuffed, two diplomatic sources said on Wednesday. Beijing's atomic relat
Published 28 Jun, 2012 12:00am
PIA reduces fare on domestic routes

PIA reduces fare on domestic routes

Pakistan International Airlines (PIA) as the national flag carrier always strives to provide affordable air links between various parts of the country. In order to provide relief to general public and promote domestic tourism, PIA now offers competitive f
Published 28 Jun, 2012 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (June 27, 2012).

Published 28 Jun, 2012 12:00am
PIA reduces fare on domestic routes

PIA reduces fare on domestic routes

Pakistan International Airlines (PIA) as the national flag carrier always strives to provide affordable air links between various parts of the country. In order to provide relief to general public and promote domestic tourism, PIA now offers competitive f
Published 28 Jun, 2012 12:00am
PIA reduces fare on domestic routes

PIA reduces fare on domestic routes

Pakistan International Airlines (PIA) as the national flag carrier always strives to provide affordable air links between various parts of the country. In order to provide relief to general public and promote domestic tourism, PIA now offers competitive f
Published 28 Jun, 2012 12:00am
CPJ condemns attack

CPJ condemns attack

The Committee to Protect Journalists (CPJ) condemns attack on the offices of Business Recorder and Aaj News and calls on authorities to immediately investigate the attack and bring the perpetrators to justice. "This brazen attack illustrates
Published 28 Jun, 2012 12:00am
CPJ condemns attack

CPJ condemns attack

The Committee to Protect Journalists (CPJ) condemns attack on the offices of Business Recorder and Aaj News and calls on authorities to immediately investigate the attack and bring the perpetrators to justice. "This brazen attack illustrates
Published 28 Jun, 2012 12:00am
Presentation

Presentation

Presentation at KSE auditorium (only for members and an authorised employee of the members).

Published 28 Jun, 2012 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 28 Jun, 2012 12:00am
Cabinet body on PSM restructuring to meet today

Cabinet body on PSM restructuring to meet today

Finance Minister Dr Abdul Hafeez Sheikh has convened a meeting of the Cabinet Committee on Restructuring (CCoR) of Pakistan Steel Mills (PSM) on Thursday (today) to discuss the financial health of the loss-making entity, it was learnt. Sources told Bus
Published 28 Jun, 2012 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 28 Jun, 2012 12:00am
Cabinet body on PSM restructuring to meet today

Cabinet body on PSM restructuring to meet today

Finance Minister Dr Abdul Hafeez Sheikh has convened a meeting of the Cabinet Committee on Restructuring (CCoR) of Pakistan Steel Mills (PSM) on Thursday (today) to discuss the financial health of the loss-making entity, it was learnt. Sources told Bus
Published 28 Jun, 2012 12:00am
Cabinet body on PSM restructuring to meet today

Cabinet body on PSM restructuring to meet today

Finance Minister Dr Abdul Hafeez Sheikh has convened a meeting of the Cabinet Committee on Restructuring (CCoR) of Pakistan Steel Mills (PSM) on Thursday (today) to discuss the financial health of the loss-making entity, it was learnt. Sources told Bus
Published 28 Jun, 2012 12:00am
Seven killed, 15 hurt in Sibi bomb blast

Seven killed, 15 hurt in Sibi bomb blast

A bomb exploded at Sibi Railway Station platform on Wednesday night has killed 7 persons including a child and injured 15 others. Police sources said that unknown men had planted explosive material at the platform or inside a bogie of Quetta-bound train J
Published 28 Jun, 2012 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 28 Jun, 2012 12:00am
ISE index improves by 36.28 points

ISE index improves by 36.28 points

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an improvement of 36.28 points as the ISE Ten Index moved from 2,736.57
Published 28 Jun, 2012 12:00am
ISE index improves by 36.28 points

ISE index improves by 36.28 points

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an improvement of 36.28 points as the ISE Ten Index moved from 2,736.57
Published 28 Jun, 2012 12:00am
LSE index surges by 40.82 points

LSE index surges by 40.82 points

Bullish sentiments dominated on the Lahore Stock Exchange on Wednesday and the equities registered gains amid fresh buying in bluechips of oil, fertiliser and banking sectors. The LSE-25 index was improved by 40.82 points to close at 3467.2 against 3426.3
Published 28 Jun, 2012 12:00am
LSE index surges by 40.82 points

LSE index surges by 40.82 points

Bullish sentiments dominated on the Lahore Stock Exchange on Wednesday and the equities registered gains amid fresh buying in bluechips of oil, fertiliser and banking sectors. The LSE-25 index was improved by 40.82 points to close at 3467.2 against 3426.3
Published 28 Jun, 2012 12:00am
Political activities: President given opportunity to dissuade his office

Political activities: President given opportunity to dissuade his office

A full bench of the Lahore High Court (LHC) here on Wednesday gave President Asif Ali Zardari an opportunity to disassociate his office from political activities in light of an earlier order of the LHC. The CJ adjourned the hearing till September 05 and o
Published 28 Jun, 2012 12:00am
Political activities: President given opportunity to dissuade his office

Political activities: President given opportunity to dissuade his office

A full bench of the Lahore High Court (LHC) here on Wednesday gave President Asif Ali Zardari an opportunity to disassociate his office from political activities in light of an earlier order of the LHC. The CJ adjourned the hearing till September 05 and o
Published 28 Jun, 2012 12:00am
NRO case: court expects Raja to implement directives: SC

NRO case: court expects Raja to implement directives: SC

Resuming the hearing of National Reconciliation Ordinance (NRO) implementation case, a three-member bench led by Justice Nasir-ul-Mulk on Wednesday issued directives to Attorney General for Pakistan (AGP) to inform the court about the details of instructi
Published 28 Jun, 2012 12:00am
NRO case: court expects Raja to implement directives: SC

NRO case: court expects Raja to implement directives: SC

Resuming the hearing of National Reconciliation Ordinance (NRO) implementation case, a three-member bench led by Justice Nasir-ul-Mulk on Wednesday issued directives to Attorney General for Pakistan (AGP) to inform the court about the details of instructi
Published 28 Jun, 2012 12:00am
US commander discusses border coordination with Kayani

US commander discusses border coordination with Kayani

The US commander in Afghanistan discussed border co-ordination with Pakistan's army chief on Wednesday as the Taliban released a video showing the remains of 17 beheaded Pakistani soldiers. General John Allen, who commands 130,000 Nato troops fighting the
Published 28 Jun, 2012 12:00am
US commander discusses border coordination with Kayani

US commander discusses border coordination with Kayani

The US commander in Afghanistan discussed border co-ordination with Pakistan's army chief on Wednesday as the Taliban released a video showing the remains of 17 beheaded Pakistani soldiers. General John Allen, who commands 130,000 Nato troops fighting the
Published 28 Jun, 2012 12:00am
Kerry-Lugar Bills: US seeks $1.1 billion for Pakistan

Kerry-Lugar Bills: US seeks $1.1 billion for Pakistan

The Obama administration has asked US Congress to authorise financial assistance of $1.1 billion under Kerry-Lugar Bills to Pakistan for the upcoming fiscal year 2012-13. US Embassy spokesman Mark Stroh told Business Recorder on Wednesday that for
Published 28 Jun, 2012 12:00am
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