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Print - 2013-07-19
Post of FBR Member IT approved

Post of FBR Member IT approved

The Board-in-Council of the Federal Board of Revenue Thursday approved a new position of FBR Member Information Technology (IT). Sources told Business Recorder here on Thursday that the decision has been taken during the Board-in-Council meeting ch
Published 19 Jul, 2013 12:00am
No progress on Reko Diq without parliamentarians' consent: Malik

No progress on Reko Diq without parliamentarians' consent: Malik

Chief Minster Balochistan, Dr Abdul Malik Baloch said on Thursday that the case of Reko Diq was in the International Court and no progress in this connection would be made unless the parliamentarians were taken on board. Talking to media here at Balochist
Published 19 Jul, 2013 12:00am
Yaqoob Nasar, Rauf Lala elected Senators

Yaqoob Nasar, Rauf Lala elected Senators

Pakistan Muslim League-Nawaz (PML-N) Yaqoob Khan Nasar and Abdul Rauf Lala of Pakhtunkhwa Milli Awami Party have been elected as Senators by Balochistan Members of Provincial Assembly (MPAs). Yaqoob Khan Nasar secured 24 votes while Abdul Rauf Lala got 22
Published 19 Jul, 2013 12:00am
Power theft: five SDOs, RO suspended

Power theft: five SDOs, RO suspended

Five Sub-Divisional Officers, One Revenue Officer and one Commercial Assistant have been suspended as power pilferage in a Textile Mill on Jhang Road was proved. According to detail electricity was being stolen in Younis Industries under the head of MDI f
Published 19 Jul, 2013 12:00am
FIs, banks required to comply with FATCA of US before January 1

FIs, banks required to comply with FATCA of US before January 1

Pakistani financial institutions and banks are required to comply with Foreign Accounts Tax Compliance Act (FATCA) of United States before January 1, 2014. Sources told Business Recorder here on Thursday that the salient features/requirements of FA
Published 19 Jul, 2013 12:00am
Rangers arrest six suspects

Rangers arrest six suspects

Law Enforcement Agencies (LEAs) on Thursday claimed to have arrested six suspects with weapons during targeted operations in different areas the metropolis. According to official sources, Rangers' personnel conducted search operations in Ittehad Town, Pak
Published 19 Jul, 2013 12:00am
Two cops among five shot dead in Karachi

Two cops among five shot dead in Karachi

At least five persons including two cops were killed in separate incidents at various parts of the metropolis, here Thursday. According to police and rescue sources, two unidentified armed men opened indiscriminate gunshots on policemen at Karimabad Furni
Published 19 Jul, 2013 12:00am
President condoles death of Rana Osman

President condoles death of Rana Osman

President Asif Ali Zardari has expressed profound grief and sorrow over the demise of Rana Osman Saeed Khan, brother of Rana Farooq Saeed Khan, former Minister for Textiles. In his condolence message to Rana Farooq Saeed Khan and the bereaved family on Th
Published 19 Jul, 2013 12:00am
12 shopkeepers held for overcharging

12 shopkeepers held for overcharging

Price Control Magistrates remained active in the provincial capital on Thursday to check prices of edible items and in this connection conducted massive raids on different shops to check quality and rates of edible items. According to an official, during
Published 19 Jul, 2013 12:00am
New LB system: chief minister Punjab approves draft proposals

New LB system: chief minister Punjab approves draft proposals

Punjab Chief Minister Shahbaz Sharif on Thursday has given approval to the draft proposals of new local bodies system at a high level meeting. Special attention has been paid to transparency and solution of people's problems at their doorstep under the ne
Published 19 Jul, 2013 12:00am
A month of price rise

A month of price rise

A month of blessing or a month of prices rise. As Ramazan begins, the prices of goods skyrocket because in this month special arrangements are made in Sehri (pre-dawn) meal and many more. Special arrangements for Iftar including pakoray, samosay, dahi bar
Published 19 Jul, 2013 12:00am
Corruption, poor quality taint India school meal scheme

Corruption, poor quality taint India school meal scheme

The bell announcing lunchtime is a high point for pupils in state-run schools across India. For most, this will be their only nutritious and wholesome meal of the day. But in the impoverished eastern state of Bihar on Wednesday, that meal proved to be fat
Published 19 Jul, 2013 12:00am
Federal Budget Why business community feels let down?

Federal Budget Why business community feels let down?

The Finance Minister's budgetary measures have been a huge setback to small business owners. Especially, the reintroduction of wealth tax assessments and giving bank accounts access to FBR have been met with huge skepticism and disbelief by the business c
Published 19 Jul, 2013 12:00am
Municipal self-governance

Municipal self-governance

In Pakistan, the poor are subjected to heavy and cruel taxation to finance the luxuries of militro-judicial-civil complex and politicians - who enjoy free or concessional perquisites, benefits, including expensive plots at prime locations. The way they wa
Published 19 Jul, 2013 12:00am
Secret funds: No more

Secret funds: No more

Even when there were always only a few 'black sheep' among the journalists the entire community had to share the collective shame of receiving official dole-outs in exchange for their loyalty. The beneficiaries would venture out as foot soldiers of the ru
Published 19 Jul, 2013 12:00am
The Weather

The Weather

The weather report on Thursday (July 18, 2013) and the forecast for Friday (July 19, 2013).

Published 19 Jul, 2013 12:00am
Electricity cauldron

Electricity cauldron

The PPP-led coalition government in particular was shown the door by the electorate because of its abysmal failure to provide uninterrupted electricity at affordable rates. PML (N) made tall claims while campaigning for votes on this front. People overwhe
Published 19 Jul, 2013 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (July 18, 2013).

Published 19 Jul, 2013 12:00am
Presidential election: PML-N seeking to woo Attaullah Mengal

Presidential election: PML-N seeking to woo Attaullah Mengal

Top leadership of PML-N has started giving serious consideration to the name of veteran Baloch leader Sardar Attaullah Mengal for the office of President. Informed sources said on Thursday that Prime Minister Nawaz Sharif during his consultative meeting w
Published 19 Jul, 2013 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (July 18, 2013).

Published 19 Jul, 2013 12:00am
Presidential election: PML-N seeking to woo Attaullah Mengal

Presidential election: PML-N seeking to woo Attaullah Mengal

Top leadership of PML-N has started giving serious consideration to the name of veteran Baloch leader Sardar Attaullah Mengal for the office of President. Informed sources said on Thursday that Prime Minister Nawaz Sharif during his consultative meeting w
Published 19 Jul, 2013 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 19 Jul, 2013 12:00am
Abid minister of state for water & power?

Abid minister of state for water & power?

Abid Sher Ali, Pakistan Muslim League Nawaz (PML-N) Stalwart on Thursday "occupied" the office of Min-ister of State for Water and Power without taking oath, well informed sources told Business Recorder. Abid Sher Ali, a close relative of Prime Min
Published 19 Jul, 2013 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 19 Jul, 2013 12:00am
Abid minister of state for water & power?

Abid minister of state for water & power?

Abid Sher Ali, Pakistan Muslim League Nawaz (PML-N) Stalwart on Thursday "occupied" the office of Min-ister of State for Water and Power without taking oath, well informed sources told Business Recorder. Abid Sher Ali, a close relative of Prime Min
Published 19 Jul, 2013 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (July 18, 2013).

Published 19 Jul, 2013 12:00am
Ogra orders restoration of supply to 350 CNG stations

Ogra orders restoration of supply to 350 CNG stations

The Oil and Gas Regulatory Authority (Ogra) has directed the relevant authorities to restore gas supply to 350 CNG stations, which was suspended by the authority on July 6 on the plea that these stations were set up in residential areas. The Authority had
Published 19 Jul, 2013 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Thursday (July 18, 2013) and for Friday (July 19, 2013).
Published 19 Jul, 2013 12:00am
Ogra orders restoration of supply to 350 CNG stations

Ogra orders restoration of supply to 350 CNG stations

The Oil and Gas Regulatory Authority (Ogra) has directed the relevant authorities to restore gas supply to 350 CNG stations, which was suspended by the authority on July 6 on the plea that these stations were set up in residential areas. The Authority had
Published 19 Jul, 2013 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (July 18, 2013).

Published 19 Jul, 2013 12:00am
Ogra orders restoration of supply to 350 CNG stations

Ogra orders restoration of supply to 350 CNG stations

The Oil and Gas Regulatory Authority (Ogra) has directed the relevant authorities to restore gas supply to 350 CNG stations, which was suspended by the authority on July 6 on the plea that these stations were set up in residential areas. The Authority had
Published 19 Jul, 2013 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Thursday (July 18, 2013).

Published 19 Jul, 2013 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (July 18, 2013).

Published 19 Jul, 2013 12:00am
Gilani says he's not answerable to LEAs

Gilani says he's not answerable to LEAs

Former Prime Minister Syed Yousuf Raza Gilani has said that he performed his duties in good faith as the PM of Pakistan for more than four years. The decisions were taken by him on the summaries submitted by the Ministries and Divisions through the Establ
Published 19 Jul, 2013 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (July 18, 2013).

Published 19 Jul, 2013 12:00am
Gilani says he's not answerable to LEAs

Gilani says he's not answerable to LEAs

Former Prime Minister Syed Yousuf Raza Gilani has said that he performed his duties in good faith as the PM of Pakistan for more than four years. The decisions were taken by him on the summaries submitted by the Ministries and Divisions through the Establ
Published 19 Jul, 2013 12:00am
THE RUPEE: mixed pattern

THE RUPEE: mixed pattern

The dollar-rupee parity rates moved both ways on the money market on Thursday in the process of trading, dealers said. The rupee inched up by five paisa for buying and selling at 100.75 and 100.80 respectively, they said.
Published 19 Jul, 2013 12:00am
Indian troops kill six in IHK

Indian troops kill six in IHK

Indian occupation forces Thursday shot dead six people protesting at a raid by the troops on an Islamic school in held Kashmir, police and witnesses said. Border Security Force (BSF) troops fired on demonstrators who had gathered outside their headquarter
Published 19 Jul, 2013 12:00am
THE RUPEE: mixed pattern

THE RUPEE: mixed pattern

The dollar-rupee parity rates moved both ways on the money market on Thursday in the process of trading, dealers said. The rupee inched up by five paisa for buying and selling at 100.75 and 100.80 respectively, they said.
Published 19 Jul, 2013 12:00am
Indian troops kill six in IHK

Indian troops kill six in IHK

Indian occupation forces Thursday shot dead six people protesting at a raid by the troops on an Islamic school in held Kashmir, police and witnesses said. Border Security Force (BSF) troops fired on demonstrators who had gathered outside their headquarter
Published 19 Jul, 2013 12:00am
58 mills agree to sell sugar to TCP

58 mills agree to sell sugar to TCP

Some 58 sugar mills have expressed willingness to sell the commodity to the Trading Corporation of Pakistan (TCP). Following the directives of federal government, on July 3, 2013, TCP floated a tender for purchase of 50,000 tons of sugar from local mills
Published 19 Jul, 2013 12:00am
58 mills agree to sell sugar to TCP

58 mills agree to sell sugar to TCP

Some 58 sugar mills have expressed willingness to sell the commodity to the Trading Corporation of Pakistan (TCP). Following the directives of federal government, on July 3, 2013, TCP floated a tender for purchase of 50,000 tons of sugar from local mills
Published 19 Jul, 2013 12:00am
58 mills agree to sell sugar to TCP

58 mills agree to sell sugar to TCP

Some 58 sugar mills have expressed willingness to sell the commodity to the Trading Corporation of Pakistan (TCP). Following the directives of federal government, on July 3, 2013, TCP floated a tender for purchase of 50,000 tons of sugar from local mills
Published 19 Jul, 2013 12:00am
PSM CEO resigns

PSM CEO resigns

Chief Executive Officer (CEO), Pakistan Steel Mills (PSM), Major General Muhammad Javed (Retd), has reportedly resigned to pre-empt the government firing him for poor performance well-informed sources told Business Recorder. "I confirm that CEO, PS
Published 19 Jul, 2013 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (July 18, 2013).

Published 19 Jul, 2013 12:00am
PSM CEO resigns

PSM CEO resigns

Chief Executive Officer (CEO), Pakistan Steel Mills (PSM), Major General Muhammad Javed (Retd), has reportedly resigned to pre-empt the government firing him for poor performance well-informed sources told Business Recorder. "I confirm that CEO, PS
Published 19 Jul, 2013 12:00am
PSM CEO resigns

PSM CEO resigns

Chief Executive Officer (CEO), Pakistan Steel Mills (PSM), Major General Muhammad Javed (Retd), has reportedly resigned to pre-empt the government firing him for poor performance well-informed sources told Business Recorder. "I confirm that CEO, PS
Published 19 Jul, 2013 12:00am
Forex reserves decline by $41.6 million

Forex reserves decline by $41.6 million

The country''s liquid foreign exchange reserves further declined by $41.6 million during the last week. The State Bank of Pakistan Thursday reported that the country''s total forex reserves declined to $10.502 billion as on July 12, 2013. The reserves sto
Published 19 Jul, 2013 12:00am
Forex reserves decline by $41.6 million

Forex reserves decline by $41.6 million

The country's liquid foreign exchange reserves further declined by $41.6 million during the last week. The State Bank of Pakistan Thursday reported that the country's total forex reserves declined to $10.502 billion as on July 12, 2013. The reserves stood
Published 19 Jul, 2013 12:00am
Forex reserves decline by $41.6 million

Forex reserves decline by $41.6 million

The country's liquid foreign exchange reserves further declined by $41.6 million during the last week. The State Bank of Pakistan Thursday reported that the country's total forex reserves declined to $10.502 billion as on July 12, 2013. The reserves stood
Published 19 Jul, 2013 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 19 Jul, 2013 12:00am
ISE index up by 18.58 points

ISE index up by 18.58 points

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities continued to move in upward direction with positive trend at the ISE amid increase in index. ISE Ten Index showed an improvement of 18.58 points as the ISE Ten Index move
Published 19 Jul, 2013 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 19 Jul, 2013 12:00am
ISE index up by 18.58 points

ISE index up by 18.58 points

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities continued to move in upward direction with positive trend at the ISE amid increase in index. ISE Ten Index showed an improvement of 18.58 points as the ISE Ten Index move
Published 19 Jul, 2013 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 19 Jul, 2013 12:00am
LSE index surges by 24.16 points

LSE index surges by 24.16 points

Bullish sentiments prevailed on the Lahore Stock Exchange on Thursday and the equities staged recovery amid decreased trading turnover due to lacking interest on the part of investors. The LSE-25 index gained 24.16 points to close at 4960.78 against 4936.
Published 19 Jul, 2013 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 19 Jul, 2013 12:00am
LSE index surges by 24.16 points

LSE index surges by 24.16 points

Bullish sentiments prevailed on the Lahore Stock Exchange on Thursday and the equities staged recovery amid decreased trading turnover due to lacking interest on the part of investors. The LSE-25 index gained 24.16 points to close at 4960.78 against 4936.
Published 19 Jul, 2013 12:00am
Energy sector to be fixed in three years: Asif

Energy sector to be fixed in three years: Asif

New Minister for Water and Power promised on Thursday to fix the country''s ailing energy sector in three years, laying out an ambitious plan to tackle crippling power shortages that have devastated the economy and sparked violent protests. Blackouts last
Published 19 Jul, 2013 12:00am
Energy sector to be fixed in three years: Asif

Energy sector to be fixed in three years: Asif

New Minister for Water and Power promised on Thursday to fix the country's ailing energy sector in three years, laying out an ambitious plan to tackle crippling power shortages that have devastated the economy and sparked violent protests. Blackouts lasti
Published 19 Jul, 2013 12:00am
Energy sector to be fixed in three years: Asif

Energy sector to be fixed in three years: Asif

New Minister for Water and Power promised on Thursday to fix the country's ailing energy sector in three years, laying out an ambitious plan to tackle crippling power shortages that have devastated the economy and sparked violent protests. Blackouts lasti
Published 19 Jul, 2013 12:00am
LNG import: three termini to be set up at Port Qasim

LNG import: three termini to be set up at Port Qasim

The Economic Co-ordination Committee (ECC) of the Cabinet has approved three terminals for import, storage and re-gasification of around 1.7 bcfd Liquefied Natural Gas (LNG) at Port Qasim. A meeting of the ECC presided over by Finance Minister Ishaq Dar T
Published 19 Jul, 2013 12:00am
LNG import: three termini to be set up at Port Qasim

LNG import: three termini to be set up at Port Qasim

The Economic Co-ordination Committee (ECC) of the Cabinet has approved three terminals for import, storage and re-gasification of around 1.7 bcfd Liquefied Natural Gas (LNG) at Port Qasim. A meeting of the ECC presided over by Finance Minister Ishaq Dar T
Published 19 Jul, 2013 12:00am
LNG import: three termini to be set up at Port Qasim

LNG import: three termini to be set up at Port Qasim

The Economic Co-ordination Committee (ECC) of the Cabinet has approved three terminals for import, storage and re-gasification of around 1.7 bcfd Liquefied Natural Gas (LNG) at Port Qasim. A meeting of the ECC presided over by Finance Minister Ishaq Dar T
Published 19 Jul, 2013 12:00am
Restructuring of Planning, Development Division approved

Restructuring of Planning, Development Division approved

Prime Minister Muhammad Nawaz Sharif said Pakistan-China economic corridor will open up the underdeveloped areas of the country to a new era of economic development and prosperity by connecting maximum number of population through network of highways and
Published 19 Jul, 2013 12:00am
Restructuring of Planning, Development Division approved

Restructuring of Planning, Development Division approved

Prime Minister Muhammad Nawaz Sharif said Pakistan-China economic corridor will open up the underdeveloped areas of the country to a new era of economic development and prosperity by connecting maximum number of population through network of highways and
Published 19 Jul, 2013 12:00am
Restructuring of Planning, Development Division approved

Restructuring of Planning, Development Division approved

Prime Minister Muhammad Nawaz Sharif said Pakistan-China economic corridor will open up the underdeveloped areas of the country to a new era of economic development and prosperity by connecting maximum number of population through network of highways and
Published 19 Jul, 2013 12:00am
Prime Minister seeks UK help to get GSP-Plus status

Prime Minister seeks UK help to get GSP-Plus status

Prime Minister Nawaz Sharif on Thursday urged the United Kingdom to continue supporting Pakistan in its efforts to secure GSP-Plus status with the European Union. The Prime Minister was talking to British Foreign Secretary William Hague who called on him
Published 19 Jul, 2013 12:00am
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