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Print - 2015-05-29
Misdeclaration: sections 80, 121 of Customs Act may be amended

Misdeclaration: sections 80, 121 of Customs Act may be amended

The government is likely to amend section 80 and section 121 of the Customs Act 1969 in the federal budget 2015-16 aimed at rechecking of goods in case of Misdeclaration and allowing transshipment of imported goods from one destination to the other withou
Published 29 May, 2015 12:00am
ST rates on mobile phones to be doubled

ST rates on mobile phones to be doubled

One of the key revenue generation measures to be announced in budget (2015-16) is to double sales tax rates on the import of mobile phones from Rs 150 (low price), Rs 250 (medium price) and Rs 500 (smart phones) to Rs 300, Rs 500 and Rs 1000 for all the t
Published 29 May, 2015 12:00am
ST rates on mobile phones to be doubled

ST rates on mobile phones to be doubled

One of the key revenue generation measures to be announced in budget (2015-16) is to double sales tax rates on the import of mobile phones from Rs 150 (low price), Rs 250 (medium price) and Rs 500 (smart phones) to Rs 300, Rs 500 and Rs 1000 for all the t
Published 29 May, 2015 12:00am
ST rates on mobile phones to be doubled

ST rates on mobile phones to be doubled

One of the key revenue generation measures to be announced in budget (2015-16) is to double sales tax rates on the import of mobile phones from Rs 150 (low price), Rs 250 (medium price) and Rs 500 (smart phones) to Rs 300, Rs 500 and Rs 1000 for all the t
Published 29 May, 2015 12:00am
2nd LNG terminal: Veracity of certificate under adjudication

2nd LNG terminal: Veracity of certificate under adjudication

Sui Southern Gas Company Limited (SSGC) on Wednesday told the Sindh High Court (SHC) that the certificate filed by M/s Akbar Associates to qualify for the second LNG terminal is a fake. SSGC made the statement in its reply to a suit filed by Akbar Associa
Published 29 May, 2015 12:00am
2nd LNG terminal: Veracity of certificate under adjudication

2nd LNG terminal: Veracity of certificate under adjudication

Sui Southern Gas Company Limited (SSGC) on Wednesday told the Sindh High Court (SHC) that the certificate filed by M/s Akbar Associates to qualify for the second LNG terminal is a fake. SSGC made the statement in its reply to a suit filed by Akbar Associa
Published 29 May, 2015 12:00am
2nd LNG terminal: Veracity of certificate under adjudication

2nd LNG terminal: Veracity of certificate under adjudication

Sui Southern Gas Company Limited (SSGC) on Wednesday told the Sindh High Court (SHC) that the certificate filed by M/s Akbar Associates to qualify for the second LNG terminal is a fake. SSGC made the statement in its reply to a suit filed by Akbar Associa
Published 29 May, 2015 12:00am
Three surcharges made regular part of power tariff

Three surcharges made regular part of power tariff

The government has reportedly made three surcharges a regular part of electricity tariff, accumulative financial impact of which has been calculated at Rs 2.07 per unit, well informed sources in Finance Ministry told Business Recorder. Giving justi
Published 29 May, 2015 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 29 May, 2015 12:00am
Three surcharges made regular part of power tariff

Three surcharges made regular part of power tariff

The government has reportedly made three surcharges a regular part of electricity tariff, accumulative financial impact of which has been calculated at Rs 2.07 per unit, well informed sources in Finance Ministry told Business Recorder. Giving justi
Published 29 May, 2015 12:00am
Three surcharges made regular part of power tariff

Three surcharges made regular part of power tariff

The government has reportedly made three surcharges a regular part of electricity tariff, accumulative financial impact of which has been calculated at Rs 2.07 per unit, well informed sources in Finance Ministry told Business Recorder. Giving justi
Published 29 May, 2015 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 29 May, 2015 12:00am
Three hijackers hanged for 1998 plane hijacking

Three hijackers hanged for 1998 plane hijacking

Three Baloch militants convicted of hijacking a plane in 1998, which they attempted to fly to India to disrupt Islamabad's first nuclear tests, officials said. The executions were carried out on the 17th anniversary of the tests, which made Pakistan the w
Published 29 May, 2015 12:00am
Three hijackers hanged for 1998 plane hijacking

Three hijackers hanged for 1998 plane hijacking

Three Baloch militants convicted of hijacking a plane in 1998, which they attempted to fly to India to disrupt Islamabad's first nuclear tests, officials said. The executions were carried out on the 17th anniversary of the tests, which made Pakistan the w
Published 29 May, 2015 12:00am
Pakistan, Belarus agree to enhance bilateral cooperation

Pakistan, Belarus agree to enhance bilateral cooperation

Pakistan and Belarus agreed to enhance bilateral co-operation, as Belarusian President Alexander Lukashenko arrived on his first two-day State visit on Thursday. Upon arrival at Nur Kahn Airbase, President Alexander Lukashenko was received by Prime Minist
Published 29 May, 2015 12:00am
Pakistan, Belarus agree to enhance bilateral cooperation

Pakistan, Belarus agree to enhance bilateral cooperation

Pakistan and Belarus agreed to enhance bilateral co-operation, as Belarusian President Alexander Lukashenko arrived on his first two-day State visit on Thursday. Upon arrival at Nur Kahn Airbase, President Alexander Lukashenko was received by Prime Minist
Published 29 May, 2015 12:00am
Pemra moved against Bol

Pemra moved against Bol

The federal information ministry on Thursday wrote a letter to Pakistan Electronic Media Regulatory Authority (Pemra) Thursday, asking it not to broadcast BOL TV channel till completion of an investigation into the Axact degree scam. "A letter has been se
Published 29 May, 2015 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (May 28, 2015).

Published 29 May, 2015 12:00am
Pemra moved against Bol

Pemra moved against Bol

The federal information ministry on Thursday wrote a letter to Pakistan Electronic Media Regulatory Authority (Pemra) Thursday, asking it not to broadcast BOL TV channel till completion of an investigation into the Axact degree scam. "A letter has been se
Published 29 May, 2015 12:00am
Government eases corridor concerns

Government eases corridor concerns

A specially-convened All-Party Conference (APC) on Thursday gave a go-ahead to the government on China-Pakistan Economic Corridor (CPEC) and agreed on priority development of the Western corridor to link Gwadar with Kashgar. Prime Minister Nawaz Sharif, c
Published 29 May, 2015 12:00am
Government eases corridor concerns

Government eases corridor concerns

A specially-convened All-Party Conference (APC) on Thursday gave a go-ahead to the government on China-Pakistan Economic Corridor (CPEC) and agreed on priority development of the Western corridor to link Gwadar with Kashgar. Prime Minister Nawaz Sharif, c
Published 29 May, 2015 12:00am
Government eases corridor concerns

Government eases corridor concerns

A specially-convened All-Party Conference (APC) on Thursday gave a go-ahead to the government on China-Pakistan Economic Corridor (CPEC) and agreed on priority development of the Western corridor to link Gwadar with Kashgar. Prime Minister Nawaz Sharif, c
Published 29 May, 2015 12:00am
MoU signed to strengthen ports, shipping connectivity

MoU signed to strengthen ports, shipping connectivity

In another 'concrete step' towards the materialisation of multibillion dollars China Pakistan Economic Corridor (CPEC) venture, the Karachi Port Trust (KPT) on Thursday signed a Memorandum of Understanding (MoU) with China's largest seaport of Guangdong P
Published 29 May, 2015 12:00am
THE RUPEE: rates slip
Currency

THE RUPEE: rates slip

The rupee drifted lower against the dollar on the money market on Thursday in the process of trading, they said. The rupee shed two-paisa versus the dollar for buying and selling at Rs 101.99 and Rs 102.00 respectively, they said.
Published 29 May, 2015 12:00am
MoU signed to strengthen ports, shipping connectivity

MoU signed to strengthen ports, shipping connectivity

In another 'concrete step' towards the materialisation of multibillion dollars China Pakistan Economic Corridor (CPEC) venture, the Karachi Port Trust (KPT) on Thursday signed a Memorandum of Understanding (MoU) with China's largest seaport of Guangdong P
Published 29 May, 2015 12:00am
THE RUPEE: rates slip
Currency

THE RUPEE: rates slip

The rupee drifted lower against the dollar on the money market on Thursday in the process of trading, they said. The rupee shed two-paisa versus the dollar for buying and selling at Rs 101.99 and Rs 102.00 respectively, they said.
Published 29 May, 2015 12:00am
MoU signed to strengthen ports, shipping connectivity

MoU signed to strengthen ports, shipping connectivity

In another ''concrete step'' towards the materialisation of multibillion dollars China Pakistan Economic Corridor (CPEC) venture, the Karachi Port Trust (KPT) on Thursday signed a Memorandum of Understanding (MoU) with China''s largest seaport of Guangdon
Published 29 May, 2015 12:00am
Pakistan aware of India's campaign: FO

Pakistan aware of India's campaign: FO

With an apparent sense of alarm to the whole region and the world, Foreign Office on Thursday said that the Indian Defence Minister's statement on "sponsoring terrorism" is a matter of concern not only for Pakistan but also to the regional countries and b
Published 29 May, 2015 12:00am
Pakistan aware of India's campaign: FO

Pakistan aware of India's campaign: FO

With an apparent sense of alarm to the whole region and the world, Foreign Office on Thursday said that the Indian Defence Minister's statement on "sponsoring terrorism" is a matter of concern not only for Pakistan but also to the regional countries and b
Published 29 May, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 28, 2015).

Published 29 May, 2015 12:00am
Greece euro exit 'a possibility': IMF
Currency

Greece euro exit 'a possibility': IMF

Greece's exit from the eurozone is a possibility but would not signify an end to the single currency, International Monetary Fund chief Christine Lagarde said in a newspaper interview Thursday. "A Greek exit is a possibility," Lagarde told the daily Frank
Published 29 May, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 28, 2015).

Published 29 May, 2015 12:00am
Greece euro exit 'a possibility': IMF
Currency

Greece euro exit 'a possibility': IMF

Greece's exit from the eurozone is a possibility but would not signify an end to the single currency, International Monetary Fund chief Christine Lagarde said in a newspaper interview Thursday. "A Greek exit is a possibility," Lagarde told the daily Frank
Published 29 May, 2015 12:00am
Greece euro exit ''a possibility'': IMF
Currency

Greece euro exit ''a possibility'': IMF

Greece''s exit from the eurozone is a possibility but would not signify an end to the single currency, International Monetary Fund chief Christine Lagarde said in a newspaper interview Thursday. "A Greek exit is a possibility," Lagarde told the daily Fran
Published 29 May, 2015 12:00am
Stocks fall on CGT concerns

Stocks fall on CGT concerns

The Karachi share market plunged by 79 points as investors reacted to reports of a proposed increase in Capital Gain Tax (CGT) in the upcoming federal budget. The KSE-100 index closed at 32,763.48 points from 32,842.59 of the previous trading session. The
Published 29 May, 2015 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (May 28, 2015)

Published 29 May, 2015 12:00am
Stocks fall on CGT concerns

Stocks fall on CGT concerns

The Karachi share market plunged by 79 points as investors reacted to reports of a proposed increase in Capital Gain Tax (CGT) in the upcoming federal budget. The KSE-100 index closed at 32,763.48 points from 32,842.59 of the previous trading session. The
Published 29 May, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (May 28, 2015).

Published 29 May, 2015 12:00am
Stocks fall on CGT concerns

Stocks fall on CGT concerns

The Karachi share market plunged by 79 points as investors reacted to reports of a proposed increase in Capital Gain Tax (CGT) in the upcoming federal budget. The KSE-100 index closed at 32,763.48 points from 32,842.59 of the previous trading session. The
Published 29 May, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 29 May, 2015 12:00am
BRIndex30 loses 83.77 points

BRIndex30 loses 83.77 points

On Thursday, BRIndex30 opened at 19,336.07 points. It touched an intraday high of 19,341.43 points and an intraday low of 19,194.76 points and closed at 19,252.30 points which was -83.77 points or -0.43 percent lower than previous close. Total volume was
Published 29 May, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 29 May, 2015 12:00am
BRIndex30 loses 83.77 points

BRIndex30 loses 83.77 points

On Thursday, BRIndex30 opened at 19,336.07 points. It touched an intraday high of 19,341.43 points and an intraday low of 19,194.76 points and closed at 19,252.30 points which was -83.77 points or -0.43 percent lower than previous close. Total volume was
Published 29 May, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 28, 2015).

Published 29 May, 2015 12:00am
RPP case: NAB decides to file reference against Ashraf, others

RPP case: NAB decides to file reference against Ashraf, others

The National Accountability Bureau (NAB) on Thursday decided to file a reference against former Prime Minister Pervaiz Ashraf and others for alleged misuse of authority and corruption in Rental Power Projects (RPP) case.
Published 29 May, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 28, 2015).

Published 29 May, 2015 12:00am
RPP case: NAB decides to file reference against Ashraf, others

RPP case: NAB decides to file reference against Ashraf, others

The National Accountability Bureau (NAB) on Thursday decided to file a reference against former Prime Minister Pervaiz Ashraf and others for alleged misuse of authority and corruption in Rental Power Projects (RPP) case.
Published 29 May, 2015 12:00am
The Weather

The Weather

The weather report on Thursday (May 28, 2015) and the forecast for Friday (May 29, 2015).

Published 29 May, 2015 12:00am
RPP case: NAB decides to file reference against Ashraf, others

RPP case: NAB decides to file reference against Ashraf, others

The National Accountability Bureau (NAB) on Thursday decided to file a reference against former Prime Minister Pervaiz Ashraf and others for alleged misuse of authority and corruption in Rental Power Projects (RPP) case.
Published 29 May, 2015 12:00am
Watchdog says 90 percent of world chemical weapons destroyed

Watchdog says 90 percent of world chemical weapons destroyed

The world's chemical watchdog said on Thursday that 90 percent of the global chemical weapons stockpile has been destroyed, calling it a "major milestone". The stockpiles included caches containing chemicals needed to make deadly nerve agents like sarin,
Published 29 May, 2015 12:00am
Watchdog says 90 percent of world chemical weapons destroyed

Watchdog says 90 percent of world chemical weapons destroyed

The world's chemical watchdog said on Thursday that 90 percent of the global chemical weapons stockpile has been destroyed, calling it a "major milestone". The stockpiles included caches containing chemicals needed to make deadly nerve agents like sarin,
Published 29 May, 2015 12:00am
US threatening 'chaos' in Asia-Pacific: China

US threatening 'chaos' in Asia-Pacific: China

China accused the United States on Thursday of threatening to sow "chaos" in the Asia-Pacific region by inciting countries whose territorial claims in the South China Seaa clash with those of Beijing It is the latest round in a war of words over the area,
Published 29 May, 2015 12:00am
US threatening 'chaos' in Asia-Pacific: China

US threatening 'chaos' in Asia-Pacific: China

China accused the United States on Thursday of threatening to sow "chaos" in the Asia-Pacific region by inciting countries whose territorial claims in the South China Seaa clash with those of Beijing It is the latest round in a war of words over the area,
Published 29 May, 2015 12:00am
Avago buys Broadcom in $37 billion chipmaker tie-up

Avago buys Broadcom in $37 billion chipmaker tie-up

Singapore-based Avago Technologies announced plans Thursday to buy rival Broadcom in a $37 billion deal creating a mobile chipmaking powerhouse. The stock-and-cash deal "creates the world's leading diversified communications semiconductor company," accord
Published 29 May, 2015 12:00am
Avago buys Broadcom in $37 billion chipmaker tie-up

Avago buys Broadcom in $37 billion chipmaker tie-up

Singapore-based Avago Technologies announced plans Thursday to buy rival Broadcom in a $37 billion deal creating a mobile chipmaking powerhouse. The stock-and-cash deal "creates the world's leading diversified communications semiconductor company," accord
Published 29 May, 2015 12:00am
Avago buys Broadcom in $37 billion chipmaker tie-up

Avago buys Broadcom in $37 billion chipmaker tie-up

Singapore-based Avago Technologies announced plans Thursday to buy rival Broadcom in a $37 billion deal creating a mobile chipmaking powerhouse. The stock-and-cash deal "creates the world''s leading diversified communications semiconductor company," accor
Published 29 May, 2015 12:00am
'Legislation for mandatory salt iodisation soon'

'Legislation for mandatory salt iodisation soon'

Advisor to Chief Minister Punjab on Health Khawaja Salman Rafiq has said on Thursday that provincial Health department has decided to bring legislation for mandatory salt iodisation with micronutrient initiative. He claimed that the expected bill will be
Published 29 May, 2015 12:00am
Installation of trackers in motorcycles proposed

Installation of trackers in motorcycles proposed

Additional Inspector General Karachi Police Ghulam Qadir Thebo has sent a letter to the Excise and Taxation Department, calling for installation of GPS trackers in motorcycles at the time of registration of the two-wheeler.
Published 29 May, 2015 12:00am
Installation of trackers in motorcycles proposed

Installation of trackers in motorcycles proposed

Additional Inspector General Karachi Police Ghulam Qadir Thebo has sent a letter to the Excise and Taxation Department, calling for installation of GPS trackers in motorcycles at the time of registration of the two-wheeler.
Published 29 May, 2015 12:00am
Seminar on importance of energy conservation held

Seminar on importance of energy conservation held

WWF-Pakistan and the Sui Northern Gas Pipelines Ltd organised a seminar on the importance of energy conservation at Froebel's International School, Lahore here on Thursday. More than 400 students attended the seminar and gave their views in the form of in
Published 29 May, 2015 12:00am
Ensuring peace a prime responsibility of FC: Nisar

Ensuring peace a prime responsibility of FC: Nisar

Interior Minister Chaudhry Nisar Ali Khan on Thursday said that ensuring peace in the country was a prime responsibility of Frontier Constabulary and warned that elements involved in violence would be dealt with iron hand. He was addressing an impressive
Published 29 May, 2015 12:00am
'Punjab government implementing various welfare plans'

'Punjab government implementing various welfare plans'

Members National and Provincial Assembly of various districts met Punjab Chief Minister Muhammad Shahbaz Sharif here on Thursday. Speaking on the occasion, the Chief Minister said that Punjab government is implementing various public welfare programmes wi
Published 29 May, 2015 12:00am
PINS emergency ward to become operational in June

PINS emergency ward to become operational in June

The Punjab Institute of Neuro Sciences will activate its Emergency Ward next month though it has completed the work on the third phase of development project in the Lahore General Hospital having 18 operation theatres equipped with modern facilities, ICU
Published 29 May, 2015 12:00am
Prices of eatable items: LHC asks officers to offer analysis

Prices of eatable items: LHC asks officers to offer analysis

The Lahore High Court on Thursday told Punjab's district co-ordination officers to offer an analysis about the prices of eatable items after decline in the petrol prices by June 15. The court was hearing a petition filed by a bar member named Azhar Saddiq
Published 29 May, 2015 12:00am
CNG stations in Punjab to reopen today: Paracha

CNG stations in Punjab to reopen today: Paracha

Central leader of the All Pakistan CNG Association Ghiyas Abdullah Paracha on Thursday said CNG stations in Punjab will reopen on Friday after a gap of eight months. All the reopened stations will use LNG which is a great achievement of Prime Minister Naw
Published 29 May, 2015 12:00am
NAB Balochistan recovers Rs 10 million from bank officials

NAB Balochistan recovers Rs 10 million from bank officials

National Accountability Bureau (NAB) Balochistan region has recovered Rs 10 million embezzled by the officials of Habib Bank Limited. Director General of NAB Balochistan region, Major Retired Tariq Mehmood Malik on Thursday handed over cheque of Rs 2,857,
Published 29 May, 2015 12:00am
Nation celebrates Youm-e-Takbeer

Nation celebrates Youm-e-Takbeer

Nation on Thursday celebrated the Youm-e-Takbeer across the country with traditional fervour and enthusiasm to commemorate historic nuclear test conducted at Chaghi (Balochistan) in 1998 in response to Indian nuclear tests. Pakistan was the first Muslim c
Published 29 May, 2015 12:00am
UVAS holds seminar on academic quality assurance

UVAS holds seminar on academic quality assurance

The Directorate of Quality Enhancement Cell of the University of Veterinary and Animal Sciences (UVAS) Lahore organised a seminar on "Academic quality assurance for outcome-based education: challenges and prospects" here on Thursday. International corpora
Published 29 May, 2015 12:00am
DPO Sialkot reinstated after successful negotiations

DPO Sialkot reinstated after successful negotiations

Station Housing Officers (SHOs) in Sialkot district took back their resignations as negotiations between Regional Police Officer (RPO) Sialkot and SHOs came to a successful ending. In the aftermath of tragedy of Daska, Punjab government had made DPO Sialk
Published 29 May, 2015 12:00am
Summer vacations: LHC restrains private schools from collecting fees

Summer vacations: LHC restrains private schools from collecting fees

The Lahore High Court (LHC) on Thursday restrained all private schools from collecting summer vacation fees at once from students and told them to act on a previous notification issued by the government. The court passed this order while hearing a petitio
Published 29 May, 2015 12:00am
'Anti-dengue day' to be observed in Punjab on June 15

'Anti-dengue day' to be observed in Punjab on June 15

With a view to raising awareness among the masses against dengue, anti-dengue day will be observed in Punjab on June 15. Advisor on Health Kh. Salman Rafiq said this while presiding over a meeting of Cabinet Committee on Dengue here on Monday. Besides, Me
Published 29 May, 2015 12:00am
ARY apologises to Prime Minister's advisor on Aviation

ARY apologises to Prime Minister's advisor on Aviation

The ARY Channel has tendered an apology to the Prime Minister's Advisor on Aviation Shujaat Azim for false allegations levelled by its anchorperson Mubashar Luqman against him in his programme 'Khara Sach' broadcast on February 5 and 19, 2015. In o
Published 29 May, 2015 12:00am
Government plan to convert CNG outlets into LNG shops rejected

Government plan to convert CNG outlets into LNG shops rejected

The government has asked the Compressed Natural Gas (CNG) stations of Sindh to convert to imported Liquefied Natural Gas (LNG) while the representatives of Sindh CNG association have accused the federal government of hatching a conspiracy against the CNG
Published 29 May, 2015 12:00am
Political leaders say consensus achieved on CPEC

Political leaders say consensus achieved on CPEC

Leaders of different political parties have expressed their satisfaction over the consensus reached in All Parties Conference convened by Prime Minister Nawaz Sharif on China-Pakistan Economic Corridor (CPNE) route. Talking to media persons, PTI leader Sh
Published 29 May, 2015 12:00am
NADRA employees hold protest

NADRA employees hold protest

All Pakistan NADRA Employees Union (PNEU) Hyderabad Chapter on Thursday staged a protest outside the Hyderabad Press Club (HPC) over non-acceptance their demands. The protest was led by Union Leaders Saeed Khan and Zahid Jatt which was attended by a large
Published 29 May, 2015 12:00am
US EXIM Bank seeks to expand its operations in Pakistan

US EXIM Bank seeks to expand its operations in Pakistan

Export-Import Bank (EXIM Bank) of the United State intends to expand its operations in Pakistan to boost the bilateral trade between the two countries. Talking to a select group of journalists at the residence of US Consul General here Thursday, Raymond E
Published 29 May, 2015 12:00am
Joyo's literary work praised

Joyo's literary work praised

Intellectuals, writers and poets have declared noted scholar and translator, Muhammad Ibrahim Joyo a great critic and a man of letters of the 20th and 21st century and demanded his writings be made part of textbooks to enable the youth to benefit from the
Published 29 May, 2015 12:00am
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