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Print - 2013-03-23
Speakers for construction of dams to meet irrigation, energy needs

Speakers for construction of dams to meet irrigation, energy needs

To mark the World Water Day, different organisations, public and private sector entities held seminars and special function to highlight significance of rich water reservoirs in the country. The Department of Water Management, Khyber-Pakhtunkhwa Universit
Published 23 Mar, 2013 12:00am
Peshawar university launches project to measure pollution

Peshawar university launches project to measure pollution

The Institute of Chemical Sciences (ICS) Peshawar University launched a project to measure Mercury pollution in the air. The joint research project, started in collaboration with Islamabad based Sustainable Development Policy Institute (SDPI) intend to me
Published 23 Mar, 2013 12:00am
Size of cabinet to be sole prerogative of caretaker Prime Minister: Naek

Size of cabinet to be sole prerogative of caretaker Prime Minister: Naek

The selection and size of the cabinet was the sole prerogative of the caretaker Prime Minister as per the Constitution and the President and political parties would have no role in that regard, said former Law Minister Farooq H Naek here on Friday. Naek s
Published 23 Mar, 2013 12:00am
Salinity to affect 20 percent irrigated area: report

Salinity to affect 20 percent irrigated area: report

Salinity is estimated to affect 20 percent irrigated area of Pakistan, ultimately making land production less, reveals the Asian Water Development outlook 2013. The report states that there are signs of growing water scarcity and environmental stress in l
Published 23 Mar, 2013 12:00am
US MIDDAY: gold dips

US MIDDAY: gold dips

Gold fell on Friday as investors took profits a day after the precious metal hit a one-month high, and safe-haven buying dried up as a deal between Greece and Cyprus eased fears of an escalating euro zone debt crisis.
Published 23 Mar, 2013 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (March 22, 2013).
Published 23 Mar, 2013 12:00am
China, Russia agree key energy deals

China, Russia agree key energy deals

China's new leader Xi Jinping and his Russian host, President Vladimir Putin, on Friday oversaw the signing of a raft of energy and other agreements as they sought to further tighten their countries' already close partnership. Xi, who is on his first fore
Published 23 Mar, 2013 12:00am
China, Russia agree key energy deals

China, Russia agree key energy deals

China's new leader Xi Jinping and his Russian host, President Vladimir Putin, on Friday oversaw the signing of a raft of energy and other agreements as they sought to further tighten their countries' already close partnership. Xi, who is on his first fore
Published 23 Mar, 2013 12:00am
Holiday notice

Holiday notice

The offices of Business Recorder will remain closed today, Saturday (March 23) on account of PAKISTAN DAY. Arrangements have, however, been made to bring out the newspaper and Internet Edition tomorrow, Sunday (March 24), as usual.
Published 23 Mar, 2013 12:00am
Holiday notice

Holiday notice

The offices of Business Recorder will remain closed today, Saturday (March 23) on account of PAKISTAN DAY. Arrangements have, however, been made to bring out the newspaper and Internet Edition tomorrow, Sunday (March 24), as usual.
Published 23 Mar, 2013 12:00am
LSE index gains 23.94 points

LSE index gains 23.94 points

Bullish sentiments dominated for the second consecutive day on the Lahore Stock Exchange on Friday and the equities registered further gains amid marginally improved trading turnover. The LSE-25 index gained 23.94 points and was ended higher at 4115.43 ag
Published 23 Mar, 2013 12:00am
LSE index gains 23.94 points

LSE index gains 23.94 points

Bullish sentiments dominated for the second consecutive day on the Lahore Stock Exchange on Friday and the equities registered further gains amid marginally improved trading turnover. The LSE-25 index gained 23.94 points and was ended higher at 4115.43 ag
Published 23 Mar, 2013 12:00am
ISE Index falls 8.49 points

ISE Index falls 8.49 points

Bears retained in the driving seat at the Islamabad Stock Exchange (ISE) where losers outclassed gainers amid decrease in index. ISE Ten Index showed a decrease of 08.49 points as the ISE Ten Index moved from 3,417.84 to 3,409.35 points. The overall turno
Published 23 Mar, 2013 12:00am
ISE Index falls 8.49 points

ISE Index falls 8.49 points

Bears retained in the driving seat at the Islamabad Stock Exchange (ISE) where losers outclassed gainers amid decrease in index. ISE Ten Index showed a decrease of 08.49 points as the ISE Ten Index moved from 3,417.84 to 3,409.35 points. The overall turno
Published 23 Mar, 2013 12:00am
Achebe, 'father of modern African literature,' dies

Achebe, 'father of modern African literature,' dies

Nigerian novelist Chinua Achebe, widely known as the father of modern African literature, has died aged 82 after a brief illness, his family said Friday. Best known internationally for his novel "Things Fall Apart", which depicts the collision between Bri
Published 23 Mar, 2013 12:00am
Musharraf confirms return despite 'peril'

Musharraf confirms return despite 'peril'

Former president Pervez Musharraf said Friday he would definitely return home Sunday to contest historic elections in May and that he was prepared to risk any danger to his life. He gave an interview with AFP in Dubai just hours after a Sindh High Court g
Published 23 Mar, 2013 12:00am
Obama, Abdullah offer united front on Syria

Obama, Abdullah offer united front on Syria

US President Barack Obama and Jordan's King Abdullah presented a united front against Syrian President Bashar al-Assad on Friday as Jordan grapples with a refugee crisis caused by Syria's civil war. Obama, in Jordan following a visit to Israel and the Wes
Published 23 Mar, 2013 12:00am
Net divisible pool tax collection stands at Rs 853.11 billion

Net divisible pool tax collection stands at Rs 853.11 billion

The net divisible pool tax collection stood at Rs 853.11 billion for the first two quarters of the current fiscal year after deduction of collection charges and payment of income tax on account of federal consolidated fund, it was learnt. Sources told
Published 23 Mar, 2013 12:00am
Net divisible pool tax collection stands at Rs 853.11 billion

Net divisible pool tax collection stands at Rs 853.11 billion

The net divisible pool tax collection stood at Rs 853.11 billion for the first two quarters of the current fiscal year after deduction of collection charges and payment of income tax on account of federal consolidated fund, it was learnt. Sources told
Published 23 Mar, 2013 12:00am
Net divisible pool tax collection stands at Rs 853.11 billion

Net divisible pool tax collection stands at Rs 853.11 billion

The net divisible pool tax collection stood at Rs 853.11 billion for the first two quarters of the current fiscal year after deduction of collection charges and payment of income tax on account of federal consolidated fund, it was learnt. Sources told
Published 23 Mar, 2013 12:00am
Combating tax frauds: IT system will brook no interference: FBR

Combating tax frauds: IT system will brook no interference: FBR

Federal Board of Revenue (FBR) Chairman Ali Arshad Hakeem has said any IT system, to combat tax frauds, should not have discretionary powers or physical interference in its smooth functioning, eliminating possibility of tax officials' manual discretion.
Published 23 Mar, 2013 12:00am
Combating tax frauds: IT system will brook no interference: FBR

Combating tax frauds: IT system will brook no interference: FBR

Federal Board of Revenue (FBR) Chairman Ali Arshad Hakeem has said any IT system, to combat tax frauds, should not have discretionary powers or physical interference in its smooth functioning, eliminating possibility of tax officials' manual discretion.
Published 23 Mar, 2013 12:00am
Combating tax frauds: IT system will brook no interference: FBR

Combating tax frauds: IT system will brook no interference: FBR

Federal Board of Revenue (FBR) Chairman Ali Arshad Hakeem has said any IT system, to combat tax frauds, should not have discretionary powers or physical interference in its smooth functioning, eliminating possibility of tax officials'' manual discretion.
Published 23 Mar, 2013 12:00am
Ephedrine case: Musa, Shahab to be indicted on April 5

Ephedrine case: Musa, Shahab to be indicted on April 5

The Anti-Narcotics Court will indict Ali Musa Gilani, son of former Prime Minister Yousuf Raza Gilani, and Makhdoom Shahabuddin, the senior Pakistan People's Party (PPP) leader in ephedrine quota allotment case on April 5. Control of Narcotics Substances
Published 23 Mar, 2013 12:00am
Ephedrine case: Musa, Shahab to be indicted on April 5

Ephedrine case: Musa, Shahab to be indicted on April 5

The Anti-Narcotics Court will indict Ali Musa Gilani, son of former Prime Minister Yousuf Raza Gilani, and Makhdoom Shahabuddin, the senior Pakistan People's Party (PPP) leader in ephedrine quota allotment case on April 5. Control of Narcotics Substances
Published 23 Mar, 2013 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.
Published 23 Mar, 2013 12:00am
10 killed, 40 injured in Dera Allah Yar blast

10 killed, 40 injured in Dera Allah Yar blast

As many as 10 people were killed and more than 40 injured when a bomb planted in front of a shop at old bus stand along Sindh-Balochistan National Highway exploded here on Friday. The condition of 15 injured is stated to be serious. The explosion was so p
Published 23 Mar, 2013 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.
Published 23 Mar, 2013 12:00am
10 killed, 40 injured in Dera Allah Yar blast

10 killed, 40 injured in Dera Allah Yar blast

As many as 10 people were killed and more than 40 injured when a bomb planted in front of a shop at old bus stand along Sindh-Balochistan National Highway exploded here on Friday. The condition of 15 injured is stated to be serious. The explosion was so p
Published 23 Mar, 2013 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 23 Mar, 2013 12:00am
President, Prime Minister discuss caretaker setup

President, Prime Minister discuss caretaker setup

Prime Minister Raja Pervez Ashraf Friday called on President Asif Ali Zardari and exchanged views on the current political situation. According to sources, the two leaders discussed matters pertaining to the next general elections and caretaker Prime Mini
Published 23 Mar, 2013 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 23 Mar, 2013 12:00am
President, Prime Minister discuss caretaker setup

President, Prime Minister discuss caretaker setup

Prime Minister Raja Pervez Ashraf Friday called on President Asif Ali Zardari and exchanged views on the current political situation. According to sources, the two leaders discussed matters pertaining to the next general elections and caretaker Prime Mini
Published 23 Mar, 2013 12:00am
SHC grants protective bail to Musharraf

SHC grants protective bail to Musharraf

The Sindh High Court (SHC) on Friday granted General Pervez Musharraf (Retd) protective bail in three cases pending against him. Two bail applications were filed by Dr Ayla Raza, daughter of Pervez Musharraf on behalf of her father. Counsel for the applic
Published 23 Mar, 2013 12:00am
SHC grants protective bail to Musharraf

SHC grants protective bail to Musharraf

The Sindh High Court (SHC) on Friday granted General Pervez Musharraf (Retd) protective bail in three cases pending against him. Two bail applications were filed by Dr Ayla Raza, daughter of Pervez Musharraf on behalf of her father. Counsel for the applic
Published 23 Mar, 2013 12:00am
Furnace oil purchase: PSO told not to open LC sans prior approval

Furnace oil purchase: PSO told not to open LC sans prior approval

The Ministry of Finance and Ministry of Water and Power have asked the Pakistan State Oil (PSO) not to open Letter of Credit (LC) for purchase of furnace oil without prior approval, it is learnt. Reliable sources told Business Recorder here on Frid
Published 23 Mar, 2013 12:00am
Furnace oil purchase: PSO told not to open LC sans prior approval

Furnace oil purchase: PSO told not to open LC sans prior approval

The Ministry of Finance and Ministry of Water and Power have asked the Pakistan State Oil (PSO) not to open Letter of Credit (LC) for purchase of furnace oil without prior approval, it is learnt. Reliable sources told Business Recorder here on Frid
Published 23 Mar, 2013 12:00am
Furnace oil purchase: PSO told not to open LC sans prior approval

Furnace oil purchase: PSO told not to open LC sans prior approval

The Ministry of Finance and Ministry of Water and Power have asked the Pakistan State Oil (PSO) not to open Letter of Credit (LC) for purchase of furnace oil without prior approval, it is learnt. Reliable sources told Business Recorder here on Frid
Published 23 Mar, 2013 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (March 22, 2013).
Published 23 Mar, 2013 12:00am
List of Military Awards

List of Military Awards

The President of Pakistan on Friday granted the Military awards to officers and men of Pakistan Army, Navy and Air Force.
Published 23 Mar, 2013 12:00am
List of Civil Awards

List of Civil Awards

President of the Islamic Republic of Pakistan, was pleased to approve 191 Pakistan Civil Awards on 14th August, 2012 and 21 were approved as special cases after 14th August, 2012 (List at Annex-I).
Published 23 Mar, 2013 12:00am
Celebrating Pakistan Day

Celebrating Pakistan Day

Today we commemorate March 23, 1940, when the founders of this nation gathered at Lahore's Iqbal Park (then known as Minto Park) and passed the historic Lahore Resolution, laying the foundation of a separate homeland for the Sub-continent's Muslims. To ma
Published 23 Mar, 2013 12:00am
THE RUPEE: slight fluctuations

THE RUPEE: slight fluctuations

Very little changes were seen on the currency market on Friday in the process of trading, dealers said. The rupee inched up by one paisa against the dollar for buying at Rs 98.20, it, however, shed two paisa for selling at Rs 98.25, they added.
Published 23 Mar, 2013 12:00am
Xi succeeds Hu

Xi succeeds Hu

President Xi Jinping's resolve to work for "continued realisation of the great renaissance of the Chinese nation and the Chinese dream", expressed in his maiden speech as head of world's second largest economy, is sufficiently indicative of his government
Published 23 Mar, 2013 12:00am
THE RUPEE: slight fluctuations

THE RUPEE: slight fluctuations

Very little changes were seen on the currency market on Friday in the process of trading, dealers said. The rupee inched up by one paisa against the dollar for buying at Rs 98.20, it, however, shed two paisa for selling at Rs 98.25, they added.
Published 23 Mar, 2013 12:00am
Human hybrids in economic system

Human hybrids in economic system

What is more important - knowledge of economics as taught and practised in the West or Wisdom as practised in the East or local level ethics? Pakistan has always been in the grip of these western taught people that have very little interaction with locals
Published 23 Mar, 2013 12:00am
Easy Fed softens fiscal policy punch on US economy

Easy Fed softens fiscal policy punch on US economy

The Federal Reserve's aggressive easing of monetary policy is proving surprisingly effective at blunting the blow to the US economy from tighter fiscal policy, according to economists who have been scrambling to raise their growth forecasts. Economists ha
Published 23 Mar, 2013 12:00am
EU rescue may tilt Cyprus from Moscow in regional power shift

EU rescue may tilt Cyprus from Moscow in regional power shift

On a hot morning in July last year, Cypriot President Demetris Christofias sat with a group of journalists on the stage of the sleekly modern National Theatre in Nicosia and beamed as he talked about his warm ties with Russia. The communist party leader,
Published 23 Mar, 2013 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (March 22, 2013).
Published 23 Mar, 2013 12:00am
Wrong impression

Wrong impression

I refer to yesterday's (22/3) Business Recorder's article on Page 2 with the heading "Pakistan Business Council dumps PTI, lauds PML (N)". We are somewhat disappointed at this heading as it gives a wrong impression of PBC having political preferences. The
Published 23 Mar, 2013 12:00am
Sabzimandi fire: government urged to rehabilitate affected traders

Sabzimandi fire: government urged to rehabilitate affected traders

All Pakistan Agriculture Produce Traders Federation (APAPTF) on Friday demanded of the government to rehabilitate the affected fruit and vegetable traders whose businesses were gutted in a recent blaze in New Sabzimandi. "The fruit and vegetable dealers a
Published 23 Mar, 2013 12:00am
'Business community kept in isolation'

'Business community kept in isolation'

The Business community of Southern Punjab and Chambers of Commerce and Industry Multan, Dera Ghazi Khan, Bahawalpur and Rahimyarkhan expressed their deep concern over the recent controversial SROs, issued unilaterally by the Federal Board of Revenue (FBR)
Published 23 Mar, 2013 12:00am
'Seven more industrial estates to be set up in Punjab'

'Seven more industrial estates to be set up in Punjab'

National Industrial Parks Development and Management Company (NIP) would establish seven more industrial estates in Punjab for the sake of promotion of trade and industrial activities. Chief Executive National Industrial Parks Development & Management Com
Published 23 Mar, 2013 12:00am
KBP observes World Water Day as 'black day'

KBP observes World Water Day as 'black day'

Kisan Board Pakistan (KBP) observed the World Water Day on Friday as 'Black Day' against the Indian water aggression against Pakistan and cold attitude of the government in tackling this issue and giving no attention towards construction of Kalabagh Dam.
Published 23 Mar, 2013 12:00am
Wapda holds seminar to highlight significance of water resources

Wapda holds seminar to highlight significance of water resources

Referring to the fast-decreasing per capita water availability in Pakistan, which has come down from 5650 cubic meter in 1947 to about 1000 cubic meter in 2013 due to rapid increase in population and natural phenomenon of sedimentation in water reservoirs
Published 23 Mar, 2013 12:00am
IEP organises seminar on World Water Day

IEP organises seminar on World Water Day

Member (Water) Water And Power Development Authority (Wapda) Hasnain Afzal said here on Friday that per capita water availability in Pakistan, which has come down from 5650 cubic meter in 1947 to about 1000 cubic meter in 2013 due to rapid increase in pop
Published 23 Mar, 2013 12:00am
ACCA launches 'Accountants for Small Business' campaign

ACCA launches 'Accountants for Small Business' campaign

ACCA globally has launched the campaign 'Accountants for Small Business' which emphasises the importance of business formalisation in emerging and frontier markets as a driver of economic development. ACCA has prided itself for over 100 years on being the
Published 23 Mar, 2013 12:00am
Water shortfall to become more acute by 2025: experts

Water shortfall to become more acute by 2025: experts

Water shortfall in the country will surge to 31 per cent till 2025 if tangible steps are not taken to cope with the situation. This was stated by speakers at a seminar arranged by the Department of Irrigation and Water Management Research Centre, Universi
Published 23 Mar, 2013 12:00am
General election: to 'save and build' Pakistan, says Shahbaz

General election: to 'save and build' Pakistan, says Shahbaz

Punjab Chief Minister Muhammad Shahbaz Sharif has said that forthcoming general elections would save and build Pakistan. He said the country had been pushed back 50 years during the last five years of Peoples Party's rule, which had destroyed national ins
Published 23 Mar, 2013 12:00am
Wheat procurement: 'gunny bags to be distributed on merit'

Wheat procurement: 'gunny bags to be distributed on merit'

District Coordi-nation Officer (DCO) Lahore, Noor Ul Amin Mengal has stated that the City District Government Lahore is making arrangements regarding wheat procurement and the distribution of gunny bags will be ensured on purely merit basis. He expressed
Published 23 Mar, 2013 12:00am
Vice chancellor Sargodha University summoned

Vice chancellor Sargodha University summoned

The Lahore High Court on Friday summoned the vice chancellor of Sargodha University in a contempt petition of 60 students on April 01. The petitioners' counsel submitted that the petitioners were given admission in the university but, later, they were exp
Published 23 Mar, 2013 12:00am
Fresh pact demanded on distribution of water from Indus River

Fresh pact demanded on distribution of water from Indus River

Terming the water accord 1991 as a constitutional step, members of civil society organisation have demanded the formation of a commission comprising technical experts, to evaluate the actual water resources of the Indus River, and to make a new pact for e
Published 23 Mar, 2013 12:00am
Role of Khyber Pakhtunkhwa Assembly lauded

Role of Khyber Pakhtunkhwa Assembly lauded

Khyber-Pakhtunkhwa Assembly Speaker Karamatullah Khan said that despite difficult situation all the political and religious parties ensured continuity of democratic process in the province. Talking to Radio Pakistan, he termed the performance of Khyber-Pa
Published 23 Mar, 2013 12:00am
Polish Consulate in Karachi inaugurated

Polish Consulate in Karachi inaugurated

The Ambassador of Republic of Poland to Pakistan Dr Andrzej Ananicz along with Deputy Head of Mission Wieslaw Kucharek, First Secretaries Piotr Adamkiewicz and Mrs Anna Czuchry has inaugurated Polish Consulate in Karachi with their newly appointed Honorar
Published 23 Mar, 2013 12:00am
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