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Print - 2014-05-21
Gas allocation: APTMA's Punjab chapter seeks amendment to formula

Gas allocation: APTMA's Punjab chapter seeks amendment to formula

All Pakistan Textile Mills (APTMA) Punjab has requested the federal government to amend gas allocation formula after seeking consent from the Council of Common Interests (CCI) as the textile industry in Punjab is facing a Rs 82 billion financial loss due
Published 21 May, 2014 12:00am
FATA reforms: government to take all stakeholders on board: Mahtab

FATA reforms: government to take all stakeholders on board: Mahtab

Khyber Pakhtunkhwa Governor, Sardar Mahtab Ahmad Khan has said it is the high time to correct the wrong perceptions; build positive image of ourselves and make best use of the available resources both for betterment of the people and the country. The situ
Published 21 May, 2014 12:00am
Zong to set up mini CSC at Wagha border

Zong to set up mini CSC at Wagha border

Zong, Pakistan's first and only Super 3G and 4G LTE telecom network and a part of China Mobile Pakistan, has agreed to set up a mini customer service centre (CSC) at PTDC motel, Wagha border, Lahore. The CSC is being set up to provide Indian visitors with
Published 21 May, 2014 12:00am
Third International Halal expo begins on May 22

Third International Halal expo begins on May 22

3rd International Halal conference and expo will be held from May 22 to 23, 2014 at Expo Center Lahore to show case the Halal Trade Potential of Pakistan. In the Event, More than 30 renowned Importers of Halal Industry from Malaysia, Thailand, Saudi Arabi
Published 21 May, 2014 12:00am
April 2014: Discos tariff may be slashed by Rs 1.48 per unit

April 2014: Discos tariff may be slashed by Rs 1.48 per unit

National Electric Power Regulatory Authority (Nepra) is expected to slash power tariff of Distribution Companies (Discos) by Rs 1.48 per unit for April 2014 under the monthly fuel adjustment mechanism. Nepra will hear a petition on Wednesday (today) filed
Published 21 May, 2014 12:00am
Senators for an end to protracted media clash

Senators for an end to protracted media clash

The Senate on Tuesday resumed discussion on political situation in the aftermath of attack on Hamid Mir. Speaking on the occasion, they said a committee of parliamentarians should be formed to resolve the conflict among different media groups. Taking part
Published 21 May, 2014 12:00am
Body of tourist girl found

Body of tourist girl found

A body of tourist girl was found in a room of a hotel at Bahrain, district Swat. The girl was stated to be killed after sexual abused by her companion, said police source. Police said that they were informed by the management of the local hotel that a tou
Published 21 May, 2014 12:00am
Rental power scam: reference to be filed this week: NAB spokesman

Rental power scam: reference to be filed this week: NAB spokesman

The National Accountability Bureau (NAB) is going to file a reference against M/s Karkey in the accountability court in the multibillion Rental Power Plants (RPPs) scam by the end of this week. "The NAB executive board has approved the filing of a referen
Published 21 May, 2014 12:00am
KPK accuses Punjab of hindering wheat supplies

KPK accuses Punjab of hindering wheat supplies

The Supreme Court Tuesday observed that supplying essential commodities at affordable prices is government's basic constitutional responsibility. The court also sought a reply from the Punjab government in response to Khyber Pukhtoonkhwa's (KPK) plea that
Published 21 May, 2014 12:00am
Vacant Senate seat: PPP to give party ticket to Taj Haider

Vacant Senate seat: PPP to give party ticket to Taj Haider

The central leadership of Pakistan People's Party (PPP) has decided to give party ticket for the vacant Senate seat from Sindh to senior party leader Taj Haider. Informed sources told Business Recorder that the decision was taken during a party mee
Published 21 May, 2014 12:00am
Government urged to make Customs' officials accountable

Government urged to make Customs' officials accountable

Member Managing Committee, Karachi Chamber of Commerce and Industry (KCCI), Hasnain Sheikh Vohra, has urged the government to make Customs appraisers and deputy commissioners accountable at all levels. He was of the view that when traders and consignees a
Published 21 May, 2014 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (May 20, 2014).
Published 21 May, 2014 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
Civil, military leadership discuss situation

Civil, military leadership discuss situation

A high-level meeting to review security issues was chaired by the Prime Minister Nawaz Sharif here on Tuesday during which prevailing national and regional security situation was reviewed. The meeting was attended by Minister for Interior Chaudhry Nisar A
Published 21 May, 2014 12:00am
Civil, military leadership discuss situation

Civil, military leadership discuss situation

A high-level meeting to review security issues was chaired by the Prime Minister Nawaz Sharif here on Tuesday during which prevailing national and regional security situation was reviewed. The meeting was attended by Minister for Interior Chaudhry Nisar A
Published 21 May, 2014 12:00am
Taliban kidnap Chinese tourist

Taliban kidnap Chinese tourist

Taliban gunmen have kidnapped a Chinese tourist in north-west of the country, close to the militant-infested tribal areas, officials and an insurgent commander said Tuesday. The man is the latest foreigner to be seized by militants in Pakistan. At least f
Published 21 May, 2014 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
Taliban kidnap Chinese tourist

Taliban kidnap Chinese tourist

Taliban gunmen have kidnapped a Chinese tourist in north-west of the country, close to the militant-infested tribal areas, officials and an insurgent commander said Tuesday. The man is the latest foreigner to be seized by militants in Pakistan. At least f
Published 21 May, 2014 12:00am
Fiscal Year 2014-15: budget envisages Rs 3.864 trillion outlay

Fiscal Year 2014-15: budget envisages Rs 3.864 trillion outlay

The government has finalised federal budget 2014-15, envisaging an overall outlay of Rs 3.864 trillion with a deficit of Rs 1630 billion or 5.5 percent of the GDP, it was reliably learnt. Sources close to Finance Minister Ishaq Dar said that federal defic
Published 21 May, 2014 12:00am
Fiscal Year 2014-15: budget envisages Rs 3.864 trillion outlay

Fiscal Year 2014-15: budget envisages Rs 3.864 trillion outlay

The government has finalised federal budget 2014-15, envisaging an overall outlay of Rs 3.864 trillion with a deficit of Rs 1630 billion or 5.5 percent of the GDP, it was reliably learnt. Sources close to Finance Minister Ishaq Dar said that federal defic
Published 21 May, 2014 12:00am
Fiscal Year 2014-15: budget envisages Rs 3.864 trillion outlay

Fiscal Year 2014-15: budget envisages Rs 3.864 trillion outlay

The government has finalised federal budget 2014-15, envisaging an overall outlay of Rs 3.864 trillion with a deficit of Rs 1630 billion or 5.5 percent of the GDP, it was reliably learnt. Sources close to Finance Minister Ishaq Dar said that federal defic
Published 21 May, 2014 12:00am
Parliamentary bodies criticise MoF's role

Parliamentary bodies criticise MoF's role

Participants of a joint meeting of Standing Committees on Finance have claimed that Finance Ministry has not taken them into confidence on important economic decisions. Later, talking to reporters, Chairperson of the Committee Nasreen Jalil said that an i
Published 21 May, 2014 12:00am
Parliamentary bodies criticise MoF's role

Parliamentary bodies criticise MoF's role

Participants of a joint meeting of Standing Committees on Finance have claimed that Finance Ministry has not taken them into confidence on important economic decisions. Later, talking to reporters, Chairperson of the Committee Nasreen Jalil said that an i
Published 21 May, 2014 12:00am
Parliamentary bodies criticise MoF''s role

Parliamentary bodies criticise MoF''s role

Participants of a joint meeting of Standing Committees on Finance have claimed that Finance Ministry has not taken them into confidence on important economic decisions. Later, talking to reporters, Chairperson of the Committee Nasreen Jalil said that an i
Published 21 May, 2014 12:00am
Three deputy Attorneys Generals quit

Three deputy Attorneys Generals quit

Three Deputy Attorneys General, who were representing the federal government in some key cases, tendered their resignations, citing personal reasons. According to a private TV channel, Zahid Khan, Waleed Ansari and Mohsin Imam, all belonging to Karachi, h
Published 21 May, 2014 12:00am
Three deputy Attorneys Generals quit

Three deputy Attorneys Generals quit

Three Deputy Attorneys General, who were representing the federal government in some key cases, tendered their resignations, citing personal reasons. According to a private TV channel, Zahid Khan, Waleed Ansari and Mohsin Imam, all belonging to Karachi, h
Published 21 May, 2014 12:00am
Three deputy Attorneys Generals quit

Three deputy Attorneys Generals quit

Three Deputy Attorneys General, who were representing the federal government in some key cases, tendered their resignations, citing personal reasons. According to a private TV channel, Zahid Khan, Waleed Ansari and Mohsin Imam, all belonging to Karachi, h
Published 21 May, 2014 12:00am
Stocks turn bearish

Stocks turn bearish

Karachi Stock Exchange turned bearish Tuesday following massive selling pressure under the lead of bluechips. The benchmark KSE-100 plunged by 108.46 points to close at 28,843 points down from 28,951.38 points Monday. Samar Iqbal, AVP at Topline Securitie
Published 21 May, 2014 12:00am
Stocks turn bearish

Stocks turn bearish

Karachi Stock Exchange turned bearish Tuesday following massive selling pressure under the lead of bluechips. The benchmark KSE-100 plunged by 108.46 points to close at 28,843 points down from 28,951.38 points Monday. Samar Iqbal, AVP at Topline Securitie
Published 21 May, 2014 12:00am
Stocks turn bearish

Stocks turn bearish

Karachi Stock Exchange turned bearish Tuesday following massive selling pressure under the lead of bluechips. The benchmark KSE-100 plunged by 108.46 points to close at 28,843 points down from 28,951.38 points Monday. Samar Iqbal, AVP at Topline Securitie
Published 21 May, 2014 12:00am
BRIndex30 gains 58.75 points

BRIndex30 gains 58.75 points

On Tues-day, BRIndex30 opened at 16,751.75 and remained positive throughout the trading session. It touched an intraday high of 16,939.58 and an intraday low of 16,780.91 and closed at 16,810.50, which was 58.75 points or 0.35 percent higher than previous
Published 21 May, 2014 12:00am
BRIndex30 gains 58.75 points

BRIndex30 gains 58.75 points

On Tues-day, BRIndex30 opened at 16,751.75 and remained positive throughout the trading session. It touched an intraday high of 16,939.58 and an intraday low of 16,780.91 and closed at 16,810.50, which was 58.75 points or 0.35 percent higher than previous
Published 21 May, 2014 12:00am
Bilateral trade: government ready to initiate talks with BJP government

Bilateral trade: government ready to initiate talks with BJP government

Pakistan is ready to initiate trade talks with the newly-elected Indian government while keeping the interests of the country supreme, said Khurram Dastgir Khan Federal Minister for Commerce. "Our strategy regarding India is still the same and trade talks
Published 21 May, 2014 12:00am
Bilateral trade: government ready to initiate talks with BJP government

Bilateral trade: government ready to initiate talks with BJP government

Pakistan is ready to initiate trade talks with the newly-elected Indian government while keeping the interests of the country supreme, said Khurram Dastgir Khan Federal Minister for Commerce. "Our strategy regarding India is still the same and trade talks
Published 21 May, 2014 12:00am
Bilateral trade: government ready to initiate talks with BJP government

Bilateral trade: government ready to initiate talks with BJP government

Pakistan is ready to initiate trade talks with the newly-elected Indian government while keeping the interests of the country supreme, said Khurram Dastgir Khan Federal Minister for Commerce. "Our strategy regarding India is still the same and trade talks
Published 21 May, 2014 12:00am
Financially-starved: KFHA operations come to a halt

Financially-starved: KFHA operations come to a halt

A number of operations of the financially-starved Karachi Fish Harbour Authority (KFHA) have either come to a standstill or slowed down, it emerged on Tuesday. Moreover, salaries of employees of the KFHA were also being delayed owing to shortage in its re
Published 21 May, 2014 12:00am
China accuses US of 'hypocrisy' as hacking row escalates

China accuses US of 'hypocrisy' as hacking row escalates

Beijing summoned the US ambassador and accused Washington of double standards Tuesday as a diplomatic row escalated over the unprecedented indictment of five Chinese military officers for cyber-espionage. The world's top two economies have long been at lo
Published 21 May, 2014 12:00am
One killed, two injured in incidents of violence

One killed, two injured in incidents of violence

One person was killed while two others were injured in different incidents of violence here on Tuesday. According to police and rescue sources, Hassan Mehdi, 45, son of Syed Mehdi was shot and killed by unidentified motorcyclists in Korangi No-3/5 in the
Published 21 May, 2014 12:00am
ECP to probe Imran's allegations

ECP to probe Imran's allegations

Election Commission of Pakistan has decided to probe the allegations of rigging levelled by Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan. According to, Election Commission of Pakistan (ECP) spokesman, ECP will examine the record of a polling station
Published 21 May, 2014 12:00am
Businessmen give mixed reaction over monetary policy

Businessmen give mixed reaction over monetary policy

The business community has expressed mixed reaction over keeping interest rates unchanged at 10 per cent for the next two months in the recently-announced monetary policy by State Bank of Pakistan. They said that although they were expecting a reduction i
Published 21 May, 2014 12:00am
Members of National Assembly body visit SLIC office

Members of National Assembly body visit SLIC office

The National Assembly's Standing Committee on Commerce under the Chairmanship of Siraj Muhammad Khan visited State Life Insurance Corporation of Pakistan, Principal Office, Karachi. The delegation was received by executive directors M Raeesuddin Paracha,
Published 21 May, 2014 12:00am
Audit points out discrepancies in TCP's accounts

Audit points out discrepancies in TCP's accounts

Independent auditors have pointed out a number of discrepancies in form of qualifications during the audit of Trading Corporation of Pakistan (TCP) for the year 2012-13 (FY13). External auditors, who audited the balance sheet of TCP and the related profit
Published 21 May, 2014 12:00am
THE RUPEE: dollar rises

THE RUPEE: dollar rises

The rupee failed to come out of the woods as it continued its slide for the second day in a row due to a strong demand for the dollar on the money market on Tuesday, dealers said. The rupee drifted lower against the dollar, shedding 13-paisa for buying at
Published 21 May, 2014 12:00am
Emotional Modi pledges to serve India ahead of swearing-in

Emotional Modi pledges to serve India ahead of swearing-in

India's prime minister-elect Narendra Modi choked back tears Tuesday and promised to try to live up to expectations as he made his first visit to parliament since his sweeping election victory. The 63-year-old leader bowed and kissed the steps of the buil
Published 21 May, 2014 12:00am
THE RUPEE: dollar rises

THE RUPEE: dollar rises

The rupee failed to come out of the woods as it continued its slide for the second day in a row due to a strong demand for the dollar on the money market on Tuesday, dealers said. The rupee drifted lower against the dollar, shedding 13-paisa for buying at
Published 21 May, 2014 12:00am
Upmanship in Ramazan packages

Upmanship in Ramazan packages

Punjab Chief Minister Shahbaz Sharif has announced a 5 billion rupee Ramazan package - 3 billion rupees more than the package announced by the federal government. Punjab's one-upmanship under Shahbaz Sharif relative to the federal government was patently
Published 21 May, 2014 12:00am
TTP split that deepens

TTP split that deepens

The simmering split between pro- and anti-Pakistan factions of Taliban reportedly came to a head over the weekend when the central shura of Tehreek-e-Taliban Pakistan refused to endorse its chief Mullah Fazlullah's order of sacking Khan Said alias Sajna.
Published 21 May, 2014 12:00am
Regulatory rules

Regulatory rules

In the midst of the political turmoil, the pressing priority for government and its allies is to repair the financial systems and restore the economy. Just as important, however, will be addressing the serious flaws in regulatory rules. Some of these laws
Published 21 May, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am