News Archives for Print - 2016-04-07 - Business Recorder

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Print - 2016-04-07

Head of Tripoli authority refuses to cede power to Libya unity government

Head of Tripoli authority refuses to cede power to Libya unity government

The head of Libya's unrecognised authority in charge of Tripoli said Wednesday he was refusing to hand over power to a UN-backed unity government, contradicting an earlier pledge by his administration. Khalifa Ghweil, chief of Tripoli's so-called National

Published 07 Apr, 2016 12:00am

Bomber 'had cleaning job' at European Parliament

Bomber 'had cleaning job' at European Parliament

One of the jihadists who blew themselves up in Islamic State attacks in Brussels on March 22 briefly worked as a cleaner at the European Parliament several years ago, the EU body said Wednesday. "He held a summer holiday job cleaning at the Parliament for

Published 07 Apr, 2016 12:00am

Brussels attacks a 'failure' but Belgium not a 'failed state': PM

Brussels attacks a 'failure' but Belgium not a 'failed state': PM

The March 22 Islamic State attacks in Brussels represented a security "failure", Belgian Prime Minister Charles Michel admitted Wednesday, but he rejected the notion his country was a "failed state". Belgian authorities have faced strong criticism at home

Published 07 Apr, 2016 12:00am

Cross-border shelling from Yemen kills two in Saudi Arabia

Exchange

Cross-border shelling from Yemen kills two in Saudi Arabia

Shelling from Yemen has killed two people in a Saudi town, the civil defence agency said, in a rare breach of a calm in the border area agreed with Iran-backed rebels early last month. "Shelling from Yemeni territory on Samtah left two people dead and wou

Published 07 Apr, 2016 12:00am

Climate forecasts may be flawed: study

Climate forecasts may be flawed: study

Predictions of unprecedented rainfall extremes in the 20th century driven by global warming turned out wrong, a study said Wednesday, casting doubt on methods used to project future trends. A massive trawl of Northern Hemisphere rainfall data for the last

Published 07 Apr, 2016 12:00am

Millions drinking arsenic-laced water in Bangladesh: HRW

Millions drinking arsenic-laced water in Bangladesh: HRW

Some 20 million poor Bangladeshis are still drinking water contaminated with arsenic, two decades after the potentially deadly toxin was discovered in the supply, Human Rights Watch said Wednesday. A new report from the rights group said Bangladesh had fa

Published 07 Apr, 2016 12:00am

Crisis-hit EU in asylum shake-up to share migrant burden

Crisis-hit EU in asylum shake-up to share migrant burden

A divided European Union on Wednesday unveiled a fresh plan to shake up its failed asylum policy and force countries to share the burden of its unprecedented migrant crisis. Just days after Greece began expelling migrants to Turkey under a controversial s

Published 07 Apr, 2016 12:00am

PM's inquiry commission challenged

PM's inquiry commission challenged

An inquiry commission, being set up by the Prime Minister to probe allegations against his family in the Panama Paper Leaks, has been challenged in the Lahore High Court. The petitioner is the Judicial Activism Panel's Chairman, Azhar Siddique, who too is

Published 07 Apr, 2016 12:00am

Assets of Pakistani citizens outside Pakistan and offshore companies

Exchange

Assets of Pakistani citizens outside Pakistan and offshore companies

The Income Tax Ordinance, 2001, the Foreign Exchange Regulations Act, 1947, the Protection of Economic Reform Act, 1992, the Anti-Money Laundering Law and the Protection of Foreign Investment Act are the relevant laws that need to be read and understood b

Published 07 Apr, 2016 12:00am

Pakistan ranks third in executions race: Amnesty

Pakistan ranks third in executions race: Amnesty

The total number of known executions world-wide rose by more than half last year to 1,634, the highest figure recorded since 1989, Amnesty International said Wednesday as Pakistan sent three more men to the gallows. The surge was largely fuelled by Iran,

Published 07 Apr, 2016 12:00am

Habib Bank Limited

Habib Bank Limited

HBL was established in Pakistan in 1947 as the first commercial bank. Over the period, the bank has grown staggeringly to become the largest private sector bank with over 1500 branches and 830 ATMs across the country and a customer base of over five milli

Published 07 Apr, 2016 12:00am

Habib Bank Limited

Habib Bank Limited

HBL was established in Pakistan in 1947 as the first commercial bank. Over the period, the bank has grown staggeringly to become the largest private sector bank with over 1500 branches and 830 ATMs across the country and a customer base of over five milli

Published 07 Apr, 2016 12:00am

Rs 60 million 'dubious' contract: Protesting PTI lawmaker forced to leave Sindh PA

Rs 60 million 'dubious' contract: Protesting PTI lawmaker forced to leave Sindh PA

A protesting PTI legislator was forced to leave the Sindh Assembly after Speaker warned him of throwing-out of the House if he continued with his clamour. Khurram Sher Zaman Khan - a vocal PTI legislator Wednesday expressed concern over the allotment of a

Published 07 Apr, 2016 12:00am

Call to address water shortage issue in industrial areas

Call to address water shortage issue in industrial areas

Majority of industrial units in the city including export-oriented industries are not getting sufficient water and are suffering huge losses and facing non-fulfilment of export orders due to which their reputation is on stake. Industrial areas are facing

Published 07 Apr, 2016 12:00am

PBC throws light on Trade Policy 2015-18

Cotton

PBC throws light on Trade Policy 2015-18

The Pakistan Business Council (PBC) has made the following suggestions on the strategic Trade Policy 2015-18: The PBC notes the Ministry of Commerce's ambition to enhance exports, as embodied in the recently issued Strategic Trade Policy Framework (STPF)

Published 07 Apr, 2016 12:00am

PBC throws light on Trade Policy 2015-18

Cotton

PBC throws light on Trade Policy 2015-18

The Pakistan Business Council (PBC) has made the following suggestions on the strategic Trade Policy 2015-18: The PBC notes the Ministry of Commerce's ambition to enhance exports, as embodied in the recently issued Strategic Trade Policy Framework (STPF)

Published 07 Apr, 2016 12:00am

Envoy for strengthening France-Pakistan ties

Exchange

Envoy for strengthening France-Pakistan ties

The Ambassador of France to Pakistan Martine Dorance said that "it is my mission to further strengthen relations between Pakistan and France. Through our counsel missions in different cities of Pakistan we are trying hard to achieve the goal." Martine Dor

Published 07 Apr, 2016 12:00am

By-elections in NA-245, PS-115 today

By-elections in NA-245, PS-115 today

Political parties are set to demonstrate their electoral power on Thursday in the by-election on a National Assembly's and Sindh Assembly's seat, as they carried out aggressive electioneering election drives to galvanize maximum voters in their favor. Wit

Published 07 Apr, 2016 12:00am

MQM MPA Bilqis Mukhtar joins PSP

MQM MPA Bilqis Mukhtar joins PSP

A sitting MPA of Muttahida Qaumi Movement (MQM) Bilqis Mukhtar on Wednesday joined Mustafa Kamal-led Pak Sarzameen Party (PSP). "I congratulate Bilqis Mukhtar on joining the party," said Mustafa Kamal while addressing a press conference at his DHA residen

Published 07 Apr, 2016 12:00am

KCCI chief urges government to withdraw GIDC

KCCI chief urges government to withdraw GIDC

President of Karachi Chamber of Commerce and Industry (KCCI) Younus Muhammad Bashir while expressing deep concern over descending exports and the reports of further increase in gas tariff from July 1, 2016, urged the government to immediately withdraw Gas

Published 07 Apr, 2016 12:00am

52 passengers fined for travelling without tickets

52 passengers fined for travelling without tickets

Pakistan Railways Divisional Commercial Officer (DCO) Nasir Nazeer on Wednesday claimed to have apprehended 52 train passengers travelling without ticket near Dhatta station. He said the raid was conducted in Khyber Mail. The train was on its way to Pesha

Published 07 Apr, 2016 12:00am

PIA plane makes emergency landing at JIAP

PIA plane makes emergency landing at JIAP

The flight PK-734 of Pakistan International Airlines (PIA) caught technical faults and made an emergency landing at Jinnah International Airport (JIAP) on Wednesday morning. According to details, the flight PK-734, which was coming from Paris to Lahore, h

Published 07 Apr, 2016 12:00am

R&I introduces new products

R&I introduces new products

R&I Electrical Appliances Pvt Ltd launched their new range of products on April 5, 2016 at a local hotel. A press conference was held where the latest Kenwood Inverter AC and Homage Hexa Inverter were revealed. "This launch is a testament to our vision of

Published 07 Apr, 2016 12:00am

NBP holds Hajj ballot

NBP holds Hajj ballot

National Bank of Pakistan conducted Hajj balloting for 25 employees of the bank. NBP President Syed Iqbal Ashraf presided over the Hajj balloting ceremony.

Published 07 Apr, 2016 12:00am

UBL signs agreement with NTL

UBL signs agreement with NTL

United Bank Ltd (UBL) and NADRA Technologies Limited (NTL) recently entered into a formal agreement for the provision of bio-metric based transaction authentication services on the Bank's ATM network.

Published 07 Apr, 2016 12:00am

PTI urges Prime Minister to follow in the footsteps of Iceland's Prime Minister

PTI urges Prime Minister to follow in the footsteps of Iceland's Prime Minister

Rejecting formation of inquiry commission to probe into offshore companies owned by children of Prime Minister Nawaz Sharif, Pakistan Tehreek-e-Insaf (PTI) on Wednesday said that in principle, the premier should quit like Icelander prime minister. Speakin

Published 07 Apr, 2016 12:00am

Government urged to reinstate seven percent duty on yarn

Government urged to reinstate seven percent duty on yarn

Chairman of Pakistan Yarn Merchants Association (Sindh and Balochistan Zone) Khawar Noorani has urged the government to support and save traders of imported synthetic textile raw material by reinstating 7 percent duty on yarn in order to pass on the benef

Published 07 Apr, 2016 12:00am

Panama Papers: PPP, PTI submit separate adjournment motions in NA

Panama Papers: PPP, PTI submit separate adjournment motions in NA

The opposition parties today (Thursday) would raise the issue of "Panama Leaks" vigorously on the floor of the National Assembly. Pakistan People's Party (PPP) and Pakistan Tehreek-e-Insaf (PTI) on Wednesday submitted separate adjournment motions in the N

Published 07 Apr, 2016 12:00am

'Trade policy lacks incentives for leather sector'

'Trade policy lacks incentives for leather sector'

Gulzar Firoz, Chairman PTA said the trade policy lacked of incentives for exports and particularly there is hardly any incentive for the leather sector. He said that the export target of $35 billion for the next three years is too ambitious and without a

Published 07 Apr, 2016 12:00am

BISP launches 'Climate Smart Village' campaign

BISP launches 'Climate Smart Village' campaign

Chairperson Benazir Income Support Program (BISP), MNA Marvi Memon Wednesday launched 'Climate Smart Village' campaign at Haripur by training women beneficiaries of the program to prepare Bio Briquette in wake of climate changes causing damages to infrast

Published 07 Apr, 2016 12:00am

SCBA offers services to carry out investigation

SCBA offers services to carry out investigation

Apex body of the legal fraternity has offered services to hold inquiry into massive leak of tax and financial records known as the Panama leaks that tangled Sharif family among 140 world leaders. Talking to Supreme Court reporters on Wednesday, President

Published 07 Apr, 2016 12:00am

Probe into offshore accounts: establishment of commission to help extract facts: Soofi

Probe into offshore accounts: establishment of commission to help extract facts: Soofi

The establishment of an inquiry commission announced by Prime Minister Nawaz Sharif to probe the offshore accounts, held by his three children, would help extract the facts. Noted lawyer Ahmer Bilal Soofi said that setting up offshore companies was not il

Published 07 Apr, 2016 12:00am

41 arrested for violation of meat-holiday

41 arrested for violation of meat-holiday

District administration Wednesday arrested 41 persons including butchers and proprietors of restaurants for violation of meat-holiday. On the directives of Deputy Commissioner (DC), Peshawar, Riaz Khan Mehsud, the Additional Assistant Commissioner (AAC),

Published 07 Apr, 2016 12:00am

Partly Facetious: PM ended his speech by saying 'those who have proof...'

Partly Facetious: PM ended his speech by saying 'those who have proof...'

"What did you think of the Prime Minister's speech?"

Published 07 Apr, 2016 12:00am

Companies Bill 2016: SECP seeks feedback on revised draft

Exchange

Companies Bill 2016: SECP seeks feedback on revised draft

The Securities and Exchange Commission of Pakistan (SECP) has placed the revised draft of the Companies Bill 2016 on its website for comments and feedback. The public/stakeholders are requested to submit their feedback by May 6. The SECP submitted the fir

Published 07 Apr, 2016 12:00am

Sindh Governor inaugurates first TEXPO 2016

Exchange

Sindh Governor inaugurates first TEXPO 2016

Governor Sindh Dr Ishrat-ul-Ibad Khan said that textile industry plays pivotal role in national economy, adding it is a major sector earning valuable foreign exchange for the country. He was addressing inauguration ceremony of Ist TEXPO 2016 held at Gover

Published 07 Apr, 2016 12:00am

APTMA for lifting ban on new industrial gas connections

Exchange

APTMA for lifting ban on new industrial gas connections

All Pakistan Textile Mills Association (APTMA) on Wednesday demanded removal of moratorium on the new gas connections to the industries located in Sindh with immediate effect on the same pattern as that done for residential buildings. Imran Maqbool Chairm

Published 07 Apr, 2016 12:00am

PTA busts illegal gateway exchange

Exchange

PTA busts illegal gateway exchange

Pakistan Telecommunication Authority (PTA) in its ongoing efforts to control grey traffic has unearthed an illegal gateway exchange in Karachi. According to details, a successful raid against the grey operator was carried out along with FIA team at Garden

Published 07 Apr, 2016 12:00am

Kwick joins hands with DNP Group

Kwick joins hands with DNP Group

DNP group is world largest group for providing diversified solutions toward their company. The company was established in 1876 and since than providing printing solutions globally. Now Kwick High Tech & Solutions (Pvt) Ltd will have exclusive partnership

Published 07 Apr, 2016 12:00am

Sri Lankan business team to attend TeXpo-2016

Sri Lankan business team to attend TeXpo-2016

A 15-member Sri Lankan business delegation led by Minister for Commerce and Industry Rishad Bathiudeen is arriving in Pakistan today for a 4-day official visit on the invitation of his Pakistani counterpart Engr Khurram Dastgir Khan, Pakistan High Commiss

Published 07 Apr, 2016 12:00am

NA body for setting up public- sector varsities in all districts

NA body for setting up public- sector varsities in all districts

A parliamentary committee on Wednesday recommended to federal government for setting up a public sector university in every district of the country to promote higher education and increase in funding for the fee reimbursement scheme to deserving students.

Published 07 Apr, 2016 12:00am

SC conditionally allows military courts' convicts to examine trial record

SC conditionally allows military courts' convicts to examine trial record

The apex court on Wednesday allowed the counsels of 10 persons, convicted by the military court, to examine their trial record on the condition to avoid making it public. A 5-member larger bench headed by Chief Justice Anwar Zaheer Jamali resumed the hear

Published 07 Apr, 2016 12:00am

Health experts advocate proper use of antibiotics

Health experts advocate proper use of antibiotics

Antibiotics are among the most commonly prescribed drugs, however, they are often not optimally prescribed or misused. This was stated by health experts at a briefing on 'Antibiotic Resistance: Act Today for a Safer Tomorrow', which was arranged by Medica

Published 07 Apr, 2016 12:00am

KCCI suggests taxing agriculture sector equally

KCCI suggests taxing agriculture sector equally

The Karachi Chamber of Commerce and Industry (KCCI) has suggested that the agriculture sector should also be equally taxed like other sectors of the economy in order to strengthen revenue collection. "Such an unnecessary exemption to high agriculture inco

Published 07 Apr, 2016 12:00am

KCCI suggests taxing agriculture sector equally

KCCI suggests taxing agriculture sector equally

The Karachi Chamber of Commerce and Industry (KCCI) has suggested that the agriculture sector should also be equally taxed like other sectors of the economy in order to strengthen revenue collection. "Such an unnecessary exemption to high agriculture inco

Published 07 Apr, 2016 12:00am

KCCI suggests taxing agriculture sector equally

KCCI suggests taxing agriculture sector equally

The Karachi Chamber of Commerce and Industry (KCCI) has suggested that the agriculture sector should also be equally taxed like other sectors of the economy in order to strengthen revenue collection. "Such an unnecessary exemption to high agriculture inco

Published 07 Apr, 2016 12:00am

Ministry comes under fire over failure to control drug prices

Ministry comes under fire over failure to control drug prices

The Ministry of National Health Services faced tough criticism from members of the Senate Standing Committee on National Health Services over its failure to control medicine prices in the country. During the meeting of the committee chaired by Senator Saj

Published 07 Apr, 2016 12:00am

Welfare initiatives in health sector: private sector's role significant: President

Welfare initiatives in health sector: private sector's role significant: President

President Mamnoon Hussain Wednesday said that Pakistan ranks highest with its charity-to-income ratio in the world and emphasised that private sector can play an important role by taking welfare initiatives in health sector. Addressing at the ground-break

Published 07 Apr, 2016 12:00am

NGOs/NPOs/Charities: NACTA compiling national database

Exchange

NGOs/NPOs/Charities: NACTA compiling national database

National Counter Terrorism Authority (NACTA) is compiling a national database of NGOs/NPOs/Charitable organisations and a model law is being framed by the NACTA in co-ordination with provincial governments and Law and Justice Division for regulating opera

Published 07 Apr, 2016 12:00am

Summary moved: PC for approval of Rs 858 million as salary package for PSM employees

Summary moved: PC for approval of Rs 858 million as salary package for PSM employees

The Privatisation Commission (PC) moved a summary on Wednesday for approval of Rs 858 million as salaries package to the Pakistan Steel Mills (PSM) employees, as PSM's employees have been protesting against non-payment of their salaries for last four mont

Published 07 Apr, 2016 12:00am

ABF, LUMS sign MoU

ABF, LUMS sign MoU

American Business Forum and the Lahore University of Management and Science (LUMS) on Wednesday signed a memorandum of understanding (MoU) to promote academic research aimed at developing knowledge based reports on various subjects of mutual interest. The

Published 07 Apr, 2016 12:00am

Mayoral elections: Article 226 self executory, argues MQM's counsel

Mayoral elections: Article 226 self executory, argues MQM's counsel

Substantiating secret ballot on Wednesday for mayoral elections in Sindh, Muttahida Qaumi Movement's (MQM) counsel Barrister Faroogh Nasim pleaded that the Article 226 of the constitution provides a level playing field for contestants. Concluding his argu

Published 07 Apr, 2016 12:00am

Government to defend all pending cases: Zubair

Government to defend all pending cases: Zubair

The government of Pakistan has conveyed to Etisalat that it will defend all pending cases in courts, filed in the aftermath of Pakistan Telecommunication Company Limited (PTCL) privatisation, but will not be responsible for the outcomes. The State Ministe

Published 07 Apr, 2016 12:00am

KP, Fata, AJK, GB: 226 killed in rain, floods in one month

KP, Fata, AJK, GB: 226 killed in rain, floods in one month

Of the 226 people killed in torrential rain and floods in parts of Khyber Pakhtunkhwa, Azad Jammu Kashmir, Gilgit-Baltistan and Fata in a month, 92 have died in the last four days. According to the official data, the torrential rains and floods have kille

Published 07 Apr, 2016 12:00am

Government-Etisalat dispute close to settlement?

Exchange

Government-Etisalat dispute close to settlement?

The government on Tuesday claimed that the long standing issue with Etisalat of pending $800 million on account Pakistan Telecommunication Company Limited (PTCL) privatisation is close to settlement. Railways Minister Saad Rafique claimed that he, as a me

Published 07 Apr, 2016 12:00am

PAT stages demonstration outside PA

PAT stages demonstration outside PA

The Pakistan Awami Tehreek party staged a peaceful demonstration outside the Punjab Assembly castigating the involvement of the Sharif family in the Panama papers leak that has spurred global investigations. Authorities across the world are being spurred

Published 07 Apr, 2016 12:00am

Anti-dengue Day marked

Anti-dengue Day marked

Government departments have marked "Anti-dengue Day" in an attempt to keep the environment neat and clean. Various seminars, awareness walks were held. Environment Protection department also arranged walk that began from the Liberty Market roundabout and

Published 07 Apr, 2016 12:00am

PTI rejects commission

PTI rejects commission

Pakistan Tehreek-i-Insaf party bigwigs have castigated the governing party's reaction and the prime minister's announcement of a commission to probe the Panama paper leaks, saying they are "nothing but a farce". The scandal has prompted global investigati

Published 07 Apr, 2016 12:00am

Panama Papers: Punjab Assembly lauds Prime Minister's decision to form commission

Panama Papers: Punjab Assembly lauds Prime Minister's decision to form commission

The treasury bench put up a resolution in the Punjab Assembly session here on Wednesday appreciating Prime Minister Muhammad Nawaz Sharif for forming a commission headed by a former Supreme Court Judge in which allegations on Panama Leaks would be probed

Published 07 Apr, 2016 12:00am

PPDWP approves three welfare projects

PPDWP approves three welfare projects

The Punjab Provincial Development Working Party has approved three development schemes of various sectors with an estimated cost of Rs 2301.932 million including prevention and control of Hepatitis B&C in Punjab at the cost of Rs 1476.308 million. These s

Published 07 Apr, 2016 12:00am

14 killed in Bhakkar road accident

14 killed in Bhakkar road accident

At least 14 people were killed and 33 others injured in a head-on collision between a passenger bus and a trailer truck at Mianwali-Muzaffargarh Road in district Bhakkar on Wednesday. DPO Bhakkar Khalid Masud Chaudhry said that eight people died on the sp

Published 07 Apr, 2016 12:00am

Non-profit associations: SECP revises conditions on grant of license or renewal

Exchange

Non-profit associations: SECP revises conditions on grant of license or renewal

The Securities and Exchange Commission of Pakistan (SECP) has revised conditions for grant of license or its renewal to non-profit associations under Section 42 of the Companies Ordinance, 1984. In this regard, the SECP has issued a circular here on Wedne

Published 07 Apr, 2016 12:00am

Removal of Ayaan Ali's name from ECL: SC reserves judgement

Removal of Ayaan Ali's name from ECL: SC reserves judgement

The Supreme Court on Wednesday reserved its verdict on the Customs Collector appeal challenging the Sindh High Court (SHC) judgment that had issued directives to the Interior Ministry to remove the name of supermodel Ayyan Ali from the Exit Control List (

Published 07 Apr, 2016 12:00am

Qatar royal, Pakistani freed by Iraq kidnappers

Qatar royal, Pakistani freed by Iraq kidnappers

A member of the Qatari royal family and a Pakistani have been released by kidnappers in Iraq after nearly four months in captivity, the Qatari foreign ministry said on Wednesday. The pair were among more than 20 people abducted from a desert hunting party

Published 07 Apr, 2016 12:00am

Choking terror financing: FBR to play lead role in execution of NRA plan

Choking terror financing: FBR to play lead role in execution of NRA plan

The Federal Board of Revenue (FBR) will play the lead role in the execution of National Risk Assessment (NRA) plan for choking financing for terrorists and terrorist organisation with the help of Financial Monitoring Unit (FMU) Karachi and other governmen

Published 07 Apr, 2016 12:00am

Six suspected terrorists of banned outfit killed

Exchange

Six suspected terrorists of banned outfit killed

At least six suspected terrorists belonging to Ustad Aslam group of the banned Tehreek-e-Taliban Pakistan (TTP) were killed in exchange of fire with police and Counter Terrorism Department (CTD) at Syed Chowk in Shera Kot area near Saggian bridge in Lahor

Published 07 Apr, 2016 12:00am

NAB chief asked to pull his socks up

NAB chief asked to pull his socks up

Expressing dismay over lackluster performance of the top anti-graft body on Wednesday the Supreme Court directed its chairman to ask his officers to come out of their cozy offices to serve the nation. A three-member bench of Justice Gulzar Ahmad resumed t

Published 07 Apr, 2016 12:00am

Oil prices jump five percent after surprise US crude stockpile draw

Currency

Oil prices jump five percent after surprise US crude stockpile draw

Oil prices rose 5 percent on Wednesday, their biggest advance in three weeks, after the US government reported a surprise draw in domestic crude stockpiles versus market expectations for a new record high. Minutes from the Federal Reserve's latest policy

Published 07 Apr, 2016 12:00am

Brathwaite takes breath away

Brathwaite takes breath away

This apropos "WI lift World Twenty20 title:

Published 07 Apr, 2016 12:00am

Clean energy's time is now

Clean energy's time is now

Energy and the environment are in transition. Technology is changing the way we explore, develop, and generate our energy resources, and rapid developments in the energy sector hold great promise for all of us. Unfortunately, at the same time, climate cha

Published 07 Apr, 2016 12:00am

Effective management of economic incentives

Currency

Effective management of economic incentives

An important function of the state is to create an effective delivery system for the implementation of public policies, a tool that can effectively deliver the benefit of incentives and facilities to the public in general and businesses in particular. Obv

Published 07 Apr, 2016 12:00am

VIEW POINT: The Panama Papers

Exchange

VIEW POINT: The Panama Papers

When last month - on March 7 - Hussain Nawaz appeared in a private TV channel interview, saying he was the owner of two offshore companies managed by a trust headed by the First Daughter, Maryam Nawaz Sharif, one wondered why would he do that. What was th

Published 07 Apr, 2016 12:00am

Rise in tax collection!

Rise in tax collection!

Federal Finance Minister Ishaq Dar while reviewing the performance of the Federal Board of Revenue (FBR) during the first nine months of the current fiscal year noted the "display of exceptional performance in the third quarter" that generated a collectio

Published 07 Apr, 2016 12:00am

Commission would need amici curiae

Commission would need amici curiae

The expected has happened. Prime Minister Nawaz Sharif has decided to set up a high-level judicial commission to investigate allegations made in the Panama Papers that link his family to some offshore holdings, and the political opposition has rejected it

Published 07 Apr, 2016 12:00am

White House tax moves sink massive Pfizer-Allergan merger

White House tax moves sink massive Pfizer-Allergan merger

Moves by the Obama administration to protect the US tax base torpedoed the massive $160 billion merger of drug giants Pfizer and Allergan Wednesday. Pfizer said the deal announced last year, which would have seen it move its corporate domicile to Allergan

Published 07 Apr, 2016 12:00am

White House tax moves sink massive Pfizer-Allergan merger

White House tax moves sink massive Pfizer-Allergan merger

Moves by the Obama administration to protect the US tax base torpedoed the massive $160 billion merger of drug giants Pfizer and Allergan Wednesday. Pfizer said the deal announced last year, which would have seen it move its corporate domicile to Allergan

Published 07 Apr, 2016 12:00am

White House tax moves sink massive Pfizer-Allergan merger

White House tax moves sink massive Pfizer-Allergan merger

Moves by the Obama administration to protect the US tax base torpedoed the massive $160 billion merger of drug giants Pfizer and Allergan Wednesday. Pfizer said the deal announced last year, which would have seen it move its corporate domicile to Allergan

Published 07 Apr, 2016 12:00am

White House tax moves sink massive Pfizer-Allergan merger

White House tax moves sink massive Pfizer-Allergan merger

Moves by the Obama administration to protect the US tax base torpedoed the massive $160 billion merger of drug giants Pfizer and Allergan Wednesday. Pfizer said the deal announced last year, which would have seen it move its corporate domicile to Allergan

Published 07 Apr, 2016 12:00am

Progress on World Bank-supported credit, projects reviewed

Exchange

Progress on World Bank-supported credit, projects reviewed

Finance Minister Ishaq Dar Wednesday held a meeting with Country Director World Bank, Pochumuthu Illangovan and other senior World Bank officials to review progress on World Bank-supported development policy credit for equitable growth besides having disc

Published 07 Apr, 2016 12:00am

Progress on World Bank-supported credit, projects reviewed

Exchange

Progress on World Bank-supported credit, projects reviewed

Finance Minister Ishaq Dar Wednesday held a meeting with Country Director World Bank, Pochumuthu Illangovan and other senior World Bank officials to review progress on World Bank-supported development policy credit for equitable growth besides having disc

Published 07 Apr, 2016 12:00am

Progress on World Bank-supported credit, projects reviewed

Exchange

Progress on World Bank-supported credit, projects reviewed

Finance Minister Ishaq Dar Wednesday held a meeting with Country Director World Bank, Pochumuthu Illangovan and other senior World Bank officials to review progress on World Bank-supported development policy credit for equitable growth besides having disc

Published 07 Apr, 2016 12:00am

Progress on World Bank-supported credit, projects reviewed

Exchange

Progress on World Bank-supported credit, projects reviewed

Finance Minister Ishaq Dar Wednesday held a meeting with Country Director World Bank, Pochumuthu Illangovan and other senior World Bank officials to review progress on World Bank-supported development policy credit for equitable growth besides having disc

Published 07 Apr, 2016 12:00am

JST chief Shafi Karnani gunned down

JST chief Shafi Karnani gunned down

Jiye Sindh Tehreek (JST) Chairman Shafi Karnani was killed by unknown target killers on Wednesday. Karnani was going back to his home from fields when three unidentified men opened fire near Makli bypass. Shafi got critically injured and was shifted to Ci

Published 07 Apr, 2016 12:00am

JST chief Shafi Karnani gunned down

JST chief Shafi Karnani gunned down

Jiye Sindh Tehreek (JST) Chairman Shafi Karnani was killed by unknown target killers on Wednesday. Karnani was going back to his home from fields when three unidentified men opened fire near Makli bypass. Shafi got critically injured and was shifted to Ci

Published 07 Apr, 2016 12:00am

Power consortium arranges Rs 540 million for solar plant

Power consortium arranges Rs 540 million for solar plant

Nishat Group Companies and Associates (Nishat) has arranged over Rs 540 million through its subsidiaries for the construction of 20 megawatts solar power project at $31.2 million in Punjab. The grid-connected photovoltaic (PV) modules solar power plant wo

Published 07 Apr, 2016 12:00am

Power consortium arranges Rs 540 million for solar plant

Power consortium arranges Rs 540 million for solar plant

Nishat Group Companies and Associates (Nishat) has arranged over Rs 540 million through its subsidiaries for the construction of 20 megawatts solar power project at $31.2 million in Punjab. The grid-connected photovoltaic (PV) modules solar power plant wo

Published 07 Apr, 2016 12:00am

Power consortium arranges Rs 540 million for solar plant

Power consortium arranges Rs 540 million for solar plant

Nishat Group Companies and Associates (Nishat) has arranged over Rs 540 million through its subsidiaries for the construction of 20 megawatts solar power project at $31.2 million in Punjab. The grid-connected photovoltaic (PV) modules solar power plant wo

Published 07 Apr, 2016 12:00am

Court issues non-bailable arrest warrants for Merchant

Court issues non-bailable arrest warrants for Merchant

A Court on Wednesday issued non-bailable arrest warrant for Sarfraz Merchant, who had returned two days ago to record statement to Federal Investigation Agency (FIA) in the Altaf Hussain's money laundering case. Judicial Magistrate South heard a fraud cas

Published 07 Apr, 2016 12:00am

Court issues non-bailable arrest warrants for Merchant

Court issues non-bailable arrest warrants for Merchant

A Court on Wednesday issued non-bailable arrest warrant for Sarfraz Merchant, who had returned two days ago to record statement to Federal Investigation Agency (FIA) in the Altaf Hussain's money laundering case. Judicial Magistrate South heard a fraud cas

Published 07 Apr, 2016 12:00am

Cruz invigorates anti-Trump camp with win in Wisconsin

Cruz invigorates anti-Trump camp with win in Wisconsin

Texas Senator Ted Cruz commanded new momentum Wednesday in the race for the White House with a solid Wisconsin primary win, making it harder for frontrunner Donald Trump to clinch the Republican nomination outright. Upstart senator Bernie Sanders also bea

Published 07 Apr, 2016 12:00am

Cruz invigorates anti-Trump camp with win in Wisconsin

Cruz invigorates anti-Trump camp with win in Wisconsin

Texas Senator Ted Cruz commanded new momentum Wednesday in the race for the White House with a solid Wisconsin primary win, making it harder for frontrunner Donald Trump to clinch the Republican nomination outright. Upstart senator Bernie Sanders also bea

Published 07 Apr, 2016 12:00am

25 dead in Kohistan landslide

25 dead in Kohistan landslide

At least 25 persons were reportedly killed in Kohistan landslide while the main Karakoram Highway continued to close on seventh day. The torrential rains have led to storm and land sliding in Khyber Pakhtunkhwa (KP), Gilgit-Baltistan and Kashmir, blocking

Published 07 Apr, 2016 12:00am

25 dead in Kohistan landslide

25 dead in Kohistan landslide

At least 25 persons were reportedly killed in Kohistan landslide while the main Karakoram Highway continued to close on seventh day. The torrential rains have led to storm and land sliding in Khyber Pakhtunkhwa (KP), Gilgit-Baltistan and Kashmir, blocking

Published 07 Apr, 2016 12:00am

At UN, Pakistan slams 'nuclear doublespeak'

At UN, Pakistan slams 'nuclear doublespeak'

Pakistan has assailed the double standards practised by some states, which preach nuclear disarmament but fail to take necessary steps themselves. Speaking at a session of the UN Disarmament Commission, a subsidiary of the General Assembly, Ambassador Mal

Published 07 Apr, 2016 12:00am

At UN, Pakistan slams 'nuclear doublespeak'

At UN, Pakistan slams 'nuclear doublespeak'

Pakistan has assailed the double standards practised by some states, which preach nuclear disarmament but fail to take necessary steps themselves. Speaking at a session of the UN Disarmament Commission, a subsidiary of the General Assembly, Ambassador Mal

Published 07 Apr, 2016 12:00am

Afghan spy apprehended in Chaman

Afghan spy apprehended in Chaman

In ongoing effort to counter anti-state elements after the arrest of Indian intelligence officer from Balochistan, the Frontier Constabulary (FC) personnel on Wednesday detained an Afghan intelligence agent in Chaman town, near the Pak-Afghan border. Acco

Published 07 Apr, 2016 12:00am

Afghan spy apprehended in Chaman

Afghan spy apprehended in Chaman

In ongoing effort to counter anti-state elements after the arrest of Indian intelligence officer from Balochistan, the Frontier Constabulary (FC) personnel on Wednesday detained an Afghan intelligence agent in Chaman town, near the Pak-Afghan border. Acco

Published 07 Apr, 2016 12:00am

Military launches new offensive in southern Punjab

Military launches new offensive in southern Punjab

The military in co-ordination with law enforcement agencies launched a new offensive in southern Punjab, officials announced Wednesday, weeks after a suicide bomber killed more than 70 people in Lahore. "Co-ordinated operations are underway against terror

Published 07 Apr, 2016 12:00am

Military launches new offensive in southern Punjab

Military launches new offensive in southern Punjab

The military in co-ordination with law enforcement agencies launched a new offensive in southern Punjab, officials announced Wednesday, weeks after a suicide bomber killed more than 70 people in Lahore. "Co-ordinated operations are underway against terror

Published 07 Apr, 2016 12:00am

The Weather

The Weather

The weather report on Wednesday (April 06, 2016) and the forecast for Thursday (April 07, 2016).

Published 07 Apr, 2016 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 23	252.10

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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Punjab farmers to receive subsidised agri machinery

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PM Shehbaz forms negotiation committee for talks with PTI

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