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Print - 2017-05-06
PIA likely to suspend Karachi-Mumbai flights

PIA likely to suspend Karachi-Mumbai flights

Pakistan International Airlines (PIA) is 'likely' to suspend flight operations on the Karachi-Mumbai route, airline sources said. PIA Spokesperson Daniyal Gillani told a private TV channel that PIA is considering suspending flight operations along the Kar
Published 06 May, 2017 12:00am
Commitment made for sustained economic growth of ASEAN

Commitment made for sustained economic growth of ASEAN

Finance Ministers and Governors have confirmed their commitment to further strengthen economic and financial cooperation in order to secure the sustained economic growth of ASEAN and Japan during the next 50 years as well. At a meeting held for the first
Published 06 May, 2017 12:00am
PMEX launches new website
Exchange

PMEX launches new website

PMEX unveiled its newly-redesigned website which boasts user-friendly experience for current and future market participants and business partners. The new website combines elements of highly-intuitive interface such as contemporary visual appeal, easy nav
Published 06 May, 2017 12:00am
WWF, Khushhali Bank launch tree plantation drive

WWF, Khushhali Bank launch tree plantation drive

The World Wide Fund for Nature, Pakistan and Khushhali Microfinance Bank launched a tree plantation drive, as part of WWF-Pakistan's Tree-A-Thon activity, to ensure the green cover of Islamabad and its adjoining areas. Both WWF-Pakistan and Khushhali Micr
Published 06 May, 2017 12:00am
REAP to explore emerging international markets

REAP to explore emerging international markets

In a highly competitive international market, rice exporters are now focusing on untapped regions for the exports. As a step forward, Rice Exporters Association of Pakistan (REAP) has appointed Eventage Pakistan as there strategic partner for internationa
Published 06 May, 2017 12:00am
Minister launches curriculum for Accelerated Learning Programme

Minister launches curriculum for Accelerated Learning Programme

Minister of State for Federal Education and Professional Training, Engr Baligh ur Rehman formally launched the curriculum for Accelerated Learning Programme (ALP) during a ceremony held at a local hotel. The curriculum has been developed by Ministry of Fe
Published 06 May, 2017 12:00am
'Process of receiving job applications completed'

'Process of receiving job applications completed'

Provincial Minister for Excise and Taxation and Narcotics Control Mukesh Kumar Chawla on Friday said that the process of receiving job applications is completed. "A committee has been formed to scrutinize documents so that the eligible candidates may be c
Published 06 May, 2017 12:00am
OPPO launches new selfie Expert F3

OPPO launches new selfie Expert F3

OPPO launched Selfie Expert F3 camera phone here on Thursday. Priced at Rs 34,899 for the mid-range market, first sale of the newly launched set will begin from May 13 nationwide and those who pre-order from 5th May till 12th May 2017 can enter the lucky
Published 06 May, 2017 12:00am
Workshop on textile development concludes

Workshop on textile development concludes

Department of Management Science, National Textile University, Faisalabad organised one-day workshop on "How to Develop the Textile Sector of Pakistan - Challenges & Opportunities" in collaboration with Faisalabad Chamber of Commerce and Industry at NTU,
Published 06 May, 2017 12:00am
DIG for tight security arrangements before Ramzan

DIG for tight security arrangements before Ramzan

Deputy Inspector General of Police (Operations) Dr Haider Ashraf on Friday directed his subordinates to ensure foolproof security arrangements before the advent of Ramazan-ul-Mubarak. He said all the SHOs have been directed to finalise security arrangemen
Published 06 May, 2017 12:00am
NAB arrests Patwari in Rs 30.21 million graft case

NAB arrests Patwari in Rs 30.21 million graft case

National Accountability Bureau (NAB) Lahore has arrested Patwari Abid Hussain for committing Rs 30.21 million embezzlement through sale of 62 Kanal, 18 Marlas land in connivance with State Life Insurance Cooperative Housing Society officials. NAB Lahore i
Published 06 May, 2017 12:00am
Kidneys transplantation: Magistrate extends remand of four suspects

Kidneys transplantation: Magistrate extends remand of four suspects

A judicial magistrate on Monday extended physical remand of four suspects including two doctors, involved in transplantation of kidneys privately, to May 09. The FIA officials produced Professor Dr Fawad, Dr Altamash secretary YDA and two paramedics befor
Published 06 May, 2017 12:00am
Sufism can effectively counter polarized world: Bilawal

Sufism can effectively counter polarized world: Bilawal

Chairman Pakistan Peoples Party Bilawal Bhutto Zardari has emphasised the significance of Sufism and maintained that as the world has becomes increasingly polarized, today we need Sufism, more than ever before. "We need that universal language of the myst
Published 06 May, 2017 12:00am
PBC for continuity of democratic institutions

PBC for continuity of democratic institutions

The Pakistan Bar Council (PBC) is concerned about the current situation arisen after the pronouncement of the Panama case judgment by the Supreme Court of Pakistan and more particularly when some of the bar leaders issued press statements indicating launc
Published 06 May, 2017 12:00am
SMEDA, WCCIB organise workshop

SMEDA, WCCIB organise workshop

The Small and Medium Enterprises Development Authority (SMEDA) in collaboration with the Women Chamber of Commerce and Industry, Bahawalpur (WCCIB), organised a workshop on "Women Business Need Assessment." According to SMEDA's spokesman, the workshop was
Published 06 May, 2017 12:00am
Khursheed demands resignation of Sindh governor

Khursheed demands resignation of Sindh governor

Leader of the Opposition in National Assembly Syed Khursheed Shah on Friday demanded Governor Sindh Muhammad Zubair to relinquish his powers for running a pre-election campaign for a political party by soliciting votes from peopled. The PPP leader lambast
Published 06 May, 2017 12:00am
Pakistan to have new film policy: Marriyum

Pakistan to have new film policy: Marriyum

Minister of State for Information and Broadcasting Marriyum Aurangzeb said on Friday that a film policy would be announced in a few months to incentivize the ailing entertainment industry. She was addressing the media at the Governor's House after the ina
Published 06 May, 2017 12:00am
LHC seeks replies

LHC seeks replies

The Lahore High Court on Friday sought replies from federal government and Pakistan Electronic Media Regulatory Authority (Pemra) in response to a petition seeking enforcement of the law against broadcasting television programs debate on sub-judice matter
Published 06 May, 2017 12:00am
Shahbaz inspects wheat procurement campaign

Shahbaz inspects wheat procurement campaign

Punjab Chief Minister Mian Shahbaz Sharif paid a visit to wheat procurement centre Purabclear, Pasroor on Friday. He inspected ongoing wheat procurement campaign 2017 and facilities provided to the farmers at the centre. He also met with farmers at the ce
Published 06 May, 2017 12:00am
PTI's intra-party polls' schedule to be finalised soon

PTI's intra-party polls' schedule to be finalised soon

The final schedule for Pakistan Tehreek-e-Insaf (PTI)'s intra party elections will be finalised within a week and discussions are ongoing as to the modus operandi of the election. This was stated by Iftikhar Durrani, head of PTI's Central Media Department
Published 06 May, 2017 12:00am
Panama Papers case: PTI, JI ask PM to resign till JIT completes inquiry

Panama Papers case: PTI, JI ask PM to resign till JIT completes inquiry

Opposition parties including Pakistan Tehreek-e-Insaf (PTI) and Jamaat-e-Islami (JI) have once again asked Prime Minister Nawaz Sharif to tender resignation till joint investigation team (JIT) constituted by the Supreme Court completes inquiry into the Pa
Published 06 May, 2017 12:00am
SU vice chancellor links higher education to quality of life

SU vice chancellor links higher education to quality of life

Vice Chancellor University of Sindh Professor Dr Fateh Muhammad Burfat on Friday linked higher education with enhancing quality of life and stressed the need for planned change on the pattern of Peoples' Republic of China to avert the otherwise disastrous
Published 06 May, 2017 12:00am
Customs values of infant milk preparation revised

Customs values of infant milk preparation revised

The Directorate General Customs Valuation (DGCV) has revised the customs values of milk preparation for infant under section 25(9) of the Customs Act. 1969. According to revised valuation, the Customs values of milk preparation for infant were earlier det
Published 06 May, 2017 12:00am
PBIF chief lauds CPEC prospects

PBIF chief lauds CPEC prospects

The president of the Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain, has said that India should stop opposing the China Pakistan Economic Corridor (CPEC) project and consider joining it, which will pave the way for provision of a
Published 06 May, 2017 12:00am
REAP abolishes chief patron post

REAP abolishes chief patron post

The Rice Exporters Association of Pakistan (REAP) has announced to abolish the post of chief patron with immediate effect. According to a press release issued by REAP on Friday, Mahmood Moulvi, Chairman, Rice Exporters Association of Pakistan along with A
Published 06 May, 2017 12:00am
The Weather

The Weather

The weather report on Friday (May 05, 2017) and the forecast for Saturday (May 06, 2017).

Published 06 May, 2017 12:00am
Japanese minister visits Quaid's mausoleum
Exchange

Japanese minister visits Quaid's mausoleum

The Japanese State Minister for Foreign Affairs Nobuo Kishi paid an official visit to Karachi on Friday. This was part of his first official visit to Pakistan. The Japanese State Minister visited Mazar-e-Quaid to pay tribute to Quaid-e-Azam Muhammad Ali J
Published 06 May, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (May 05, 2017).

Published 06 May, 2017 12:00am
Body formed to probe MQM worker's death

Body formed to probe MQM worker's death

Sindh Minister for Law and Prison Ziaul Hassan Lanjar has constituted a three-member enquiry committee to probe into the death of MQM worker Mohammed Hassan Ghanchi. The committee will be headed by the Sindh Special Secretary Home, said a statement issued
Published 06 May, 2017 12:00am
Farooq hails Afaq's proposal of reconciliation

Farooq hails Afaq's proposal of reconciliation

Muttahida Qaumi Movement Pakistan (MQM-P) Chief Farooq Sattar on Friday welcomed Mohajir Qaumi Movement-Haqiqi (MQM-H) Chairman Afaq Ahmed's proposal of political reconciliation and said MQM-P would shun the politics of violence and not let repeat the pol
Published 06 May, 2017 12:00am
Corruption in SBC: SHC issues notices to AG, others

Corruption in SBC: SHC issues notices to AG, others

Sindh High Court on Friday issued notices to Sindh Bar Council (SBC), Advocate General Sindh and others on a petition filed against alleged rampant corruption in SBC, provincial regulatory body of legal education and legal practice. The petition has been
Published 06 May, 2017 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (May 05, 2017).

Published 06 May, 2017 12:00am
Affectees of Thar's fire-hit village rehabilitated

Affectees of Thar's fire-hit village rehabilitated

The fire hit village Odani, District Tharparkar was razed to ground in April, 2017. The project to rehabilitate victims of fire has been completed and 256 huts of 176 houses have been built successfully in just 20 days by Thar foundation and the affectees
Published 06 May, 2017 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (May 05, 2017)

Published 06 May, 2017 12:00am
Worker's death in prison: MQM-led opposition walks out of Sindh Assembly

Worker's death in prison: MQM-led opposition walks out of Sindh Assembly

The Opposition parties' legislators on Friday walked out of the Sindh Assembly to register protest against the death of an imprisoned activist of MQM in Karachi which MQM said was caused by torture in jail. As soon as the proceedings began, the opposition
Published 06 May, 2017 12:00am
Rangers dig out arms, ammunitions in Karachi

Rangers dig out arms, ammunitions in Karachi

Pakistan Rangers (Sindh) on Friday claimed to have recovered heavy cache of arms dumped in a plot in Musharraf Colony. The Rangers accused Muttahida Qaumi Movement London (MQM-L) of having buried the weapons in Musharraf Colony. A spokesman of the Rangers
Published 06 May, 2017 12:00am
Greater consensus on CPEC

Greater consensus on CPEC

That the provinces and the centre have ended their squabbles over the China Pakistan Economic Corridor route, etc, is a development that will certainly augur well for country's economic prospects. According to a Business Recorder news item yesterda
Published 06 May, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 05, 2017).

Published 06 May, 2017 12:00am
Iceland drills 4.7km down into volcano to tap clean energy

Iceland drills 4.7km down into volcano to tap clean energy

It's named after a Nordic god and drills deep into the heart of a volcano: "Thor" is a rig that symbolises Iceland's leading-edge efforts to produce powerful clean energy. If successful, the experimental project could produce up to 10 times more energy th
Published 06 May, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 05, 2017).

Published 06 May, 2017 12:00am
Money laundering and predicate offences

Money laundering and predicate offences

The purpose of a criminal organisation is to generate profits for the group or for one of its members. Money laundering is the processing of these criminal proceeds to disguise their illegal origin. Criminal activities such as arms diversion, smuggling, o
Published 06 May, 2017 12:00am
Back to Musharraf's electricity tricks?

Back to Musharraf's electricity tricks?

The two announcements reported in the media this week show how confused those running our power sector appear to be. The first said the government is considering setting up mobile power plants to compensate for delays in ongoing power projects, thereby pu
Published 06 May, 2017 12:00am
CCI meeting

CCI meeting

The Council of Common Interests (CCI) met on May 2 after a gap of four months since its last meeting in December 2016. After the 18th Amendment, the CCI is supposed to meet every three months. Hopefully, all the stakeholders will work towards meeting that
Published 06 May, 2017 12:00am
THE RUPEE: posts more gains

THE RUPEE: posts more gains

The rupee appreciated against the dollar on the money market on Friday in the process of trading, dealers said. The rupee did not move any side in terms of the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
Published 06 May, 2017 12:00am
Tunnelled vision?

Tunnelled vision?

The Sharif administration has, when compared to former administrations, been the most optimistic in setting targets - be it targets for annual tax collection, be it allocation for the annual budgeted Public Sector Development Programme (PSDP), be it expor
Published 06 May, 2017 12:00am
THE RUPEE: posts more gains

THE RUPEE: posts more gains

The rupee appreciated against the dollar on the money market on Friday in the process of trading, dealers said. The rupee did not move any side in terms of the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
Published 06 May, 2017 12:00am
North Korea accuses CIA of plot to assassinate Kim Jong-Un

North Korea accuses CIA of plot to assassinate Kim Jong-Un

North Korea on Friday accused the CIA and Seoul's intelligence services of conspiring to assassinate the isolated country's leader Kim Jong-Un with a biochemical weapon, amid heightened tensions in the region. In a statement the powerful ministry of state
Published 06 May, 2017 12:00am
North Korea accuses CIA of plot to assassinate Kim Jong-Un

North Korea accuses CIA of plot to assassinate Kim Jong-Un

North Korea on Friday accused the CIA and Seoul's intelligence services of conspiring to assassinate the isolated country's leader Kim Jong-Un with a biochemical weapon, amid heightened tensions in the region. In a statement the powerful ministry of state
Published 06 May, 2017 12:00am
Syrian rebels reject Russia's proposal for safe zones

Syrian rebels reject Russia's proposal for safe zones

Syria's armed opposition on Thursday rejected a Russian plan to create safe zones in Syria, calling it a threat to the country's territorial integrity, and said it would also not recognise Iran as a guarantor of any ceasefire plan. Turkey, which supports
Published 06 May, 2017 12:00am
Syrian rebels reject Russia's proposal for safe zones

Syrian rebels reject Russia's proposal for safe zones

Syria's armed opposition on Thursday rejected a Russian plan to create safe zones in Syria, calling it a threat to the country's territorial integrity, and said it would also not recognise Iran as a guarantor of any ceasefire plan. Turkey, which supports
Published 06 May, 2017 12:00am
APTMA for continuity of zero-rating regimes

APTMA for continuity of zero-rating regimes

Chairman All Pakistan Textile Mills Association Aamir Fayyaz has urged the government to continue with zero rating regimes in next budget to revive industrial viability and encourage investment. He said any move to withdraw zero rating regime for the five
Published 06 May, 2017 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (May 05, 2017).

Published 06 May, 2017 12:00am
APTMA for continuity of zero-rating regimes

APTMA for continuity of zero-rating regimes

Chairman All Pakistan Textile Mills Association Aamir Fayyaz has urged the government to continue with zero rating regimes in next budget to revive industrial viability and encourage investment. He said any move to withdraw zero rating regime for the five
Published 06 May, 2017 12:00am
APTMA for continuity of zero-rating regimes

APTMA for continuity of zero-rating regimes

Chairman All Pakistan Textile Mills Association Aamir Fayyaz has urged the government to continue with zero rating regimes in next budget to revive industrial viability and encourage investment. He said any move to withdraw zero rating regime for the five
Published 06 May, 2017 12:00am
India calls satellite 'gift to South Asia', Pakistan says no thanks

India calls satellite 'gift to South Asia', Pakistan says no thanks

India launched a communications satellite on Friday for its smaller neighbours to share, part of its efforts to build goodwill in the region and counter Chinese influence, but arch- rival Pakistan said it would stay away from the project. Prime Minister N
Published 06 May, 2017 12:00am
India calls satellite 'gift to South Asia', Pakistan says no thanks

India calls satellite 'gift to South Asia', Pakistan says no thanks

India launched a communications satellite on Friday for its smaller neighbours to share, part of its efforts to build goodwill in the region and counter Chinese influence, but arch- rival Pakistan said it would stay away from the project. Prime Minister N
Published 06 May, 2017 12:00am
Czech PM withdraws resignation, wants finance minister sacked

Czech PM withdraws resignation, wants finance minister sacked

Czech Prime Minister Bohuslav Sobotka withdrew his planned resignation on Friday, calling instead for the dismissal of his billionaire finance minister, a popular political rival, over suspicions of fraud. The move deepened a political crisis triggered by
Published 06 May, 2017 12:00am
Czech PM withdraws resignation, wants finance minister sacked

Czech PM withdraws resignation, wants finance minister sacked

Czech Prime Minister Bohuslav Sobotka withdrew his planned resignation on Friday, calling instead for the dismissal of his billionaire finance minister, a popular political rival, over suspicions of fraud. The move deepened a political crisis triggered by
Published 06 May, 2017 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 06 May, 2017 12:00am
New Silk Road initiative: China stresses security needed

New Silk Road initiative: China stresses security needed

China''s initiative to generate economic prosperity by building a new Silk Road will depend on the countries involved ensuring strong security, its top policemen said, ahead of a summit to discuss a project President Xi Jinping has championed. Leaders fro
Published 06 May, 2017 12:00am
New Silk Road initiative: China stresses security needed

New Silk Road initiative: China stresses security needed

China's initiative to generate economic prosperity by building a new Silk Road will depend on the countries involved ensuring strong security, its top policemen said, ahead of a summit to discuss a project President Xi Jinping has championed. Leaders from
Published 06 May, 2017 12:00am
New Silk Road initiative: China stresses security needed

New Silk Road initiative: China stresses security needed

China's initiative to generate economic prosperity by building a new Silk Road will depend on the countries involved ensuring strong security, its top policemen said, ahead of a summit to discuss a project President Xi Jinping has championed. Leaders from
Published 06 May, 2017 12:00am
Court refuses to hear Musharraf's counsel's arguments

Court refuses to hear Musharraf's counsel's arguments

A special court trying former President Pervez Musharraf on high treason charges has refused to hear his counsel Dr Faroogh Nasim's arguments on grounds that Nasim' client has been declared an absconder. Resuming the hearing of the matter on Friday, a thr
Published 06 May, 2017 12:00am
Court refuses to hear Musharraf's counsel's arguments

Court refuses to hear Musharraf's counsel's arguments

A special court trying former President Pervez Musharraf on high treason charges has refused to hear his counsel Dr Faroogh Nasim's arguments on grounds that Nasim' client has been declared an absconder. Resuming the hearing of the matter on Friday, a thr
Published 06 May, 2017 12:00am
Prime Minister, CoAS take stock of situation

Prime Minister, CoAS take stock of situation

Prime Minister Nawaz Sharif and Chief of the Army Staff General Qamar Javed Bajwa, took stock of situation at a meeting, on Friday, Aaj News reported. The news channel quoted sources as saying that the Prime Minister and the Army Chief discussed important
Published 06 May, 2017 12:00am
Prime Minister, CoAS take stock of situation

Prime Minister, CoAS take stock of situation

Prime Minister Nawaz Sharif and Chief of the Army Staff General Qamar Javed Bajwa, took stock of situation at a meeting, on Friday, Aaj News reported. The news channel quoted sources as saying that the Prime Minister and the Army Chief discussed important
Published 06 May, 2017 12:00am
Army chief visits Hyderabad Garrison

Army chief visits Hyderabad Garrison

Army Chief General Qamar Javed Bajwa visited Hyderabad Garrison on Friday. He was briefed on operational and administrative matters regarding Hyderabad Garrison and Thar. Qamar Javed Bajwa was apprised that Army has distributed almost 4,000 tons of ration
Published 06 May, 2017 12:00am
Army chief visits Hyderabad Garrison

Army chief visits Hyderabad Garrison

Army Chief General Qamar Javed Bajwa visited Hyderabad Garrison on Friday. He was briefed on operational and administrative matters regarding Hyderabad Garrison and Thar. Qamar Javed Bajwa was apprised that Army has distributed almost 4,000 tons of ration
Published 06 May, 2017 12:00am
My government 'corruption-free': Prime Minister

My government 'corruption-free': Prime Minister

Prime Minister Nawaz Sharif on Friday said his government was corruption-free and has not been tainted in even a single scandal of financial bungling as transparency in all projects was its hallmark since 2013. He was addressing a gathering here after wit
Published 06 May, 2017 12:00am
My government 'corruption-free': Prime Minister

My government 'corruption-free': Prime Minister

Prime Minister Nawaz Sharif on Friday said his government was corruption-free and has not been tainted in even a single scandal of financial bungling as transparency in all projects was its hallmark since 2013. He was addressing a gathering here after wit
Published 06 May, 2017 12:00am
Taxation a collusive bargaining game: World Bank

Taxation a collusive bargaining game: World Bank

Taxation in Pakistan is a collusive bargaining game between taxpayers and tax officials, according to a recently uploaded World Bank (WB) Policy Research Working Paper, titled, "Who Serves the Poor? Surveying Civil Servants in the Developing World."
Published 06 May, 2017 12:00am
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