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May 14, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-05-27
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Over-optimism surrounds election-year budget
Mutual Funds

Over-optimism surrounds election-year budget

The federal government of Pakistan Muslim League (Nawaz) on Friday unveiled a Rs 4,753 billion deficit budget for the next fiscal year (2017-18), envisaging a huge spending in election year as well as an increase in pay and pension of military and civil g
Published 27 May, 2017 12:00am
Treasury yields dip slightly

Treasury yields dip slightly

US Treasury yields fell slightly on Thursday on doubts whether the Federal Reserve would raise interest rates more than once by the end of 2017 as it signaled it is preparing to shrink its $4.5 trillion balance sheet later this year. Bond yields slipped i
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Treasury yields dip slightly

Treasury yields dip slightly

US Treasury yields fell slightly on Thursday on doubts whether the Federal Reserve would raise interest rates more than once by the end of 2017 as it signaled it is preparing to shrink its $4.5 trillion balance sheet later this year. Bond yields slipped i
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Sri Lankan shares lower

Sri Lankan shares lower

Sri Lankan shares ended lower on Friday, recording their first weekly decline in nine, as investors booked profits in shares of diversified companies such as John Keells Holdings Plc and Melstacorp Plc. The Colombo stock index ended 0.25 percent weaker at
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Nasdaq, S&P hit record highs, helped by consumer stocks
Exchange

Nasdaq, S&P hit record highs, helped by consumer stocks

The S&P 500 and Nasdaq hit record closing highs on Thursday, with the market propped up by gains in the consumer discretionary sector after strong reports from Best Buy and other retailers. The discretionary index gained 0.9 percent, while the S&P 500 ret
Published 27 May, 2017 12:00am
Hong Kong stocks snap five day winning streak

Hong Kong stocks snap five day winning streak

Hong Kong stocks broke a five-day winning streak on Friday, as gains in air carriers were offset by weakness in energy shares following a tumble in oil prices. Chinese investors failed to lend support to the market during the session because two cross-bor
Published 27 May, 2017 12:00am
Friday's early afternoon trade: stocks little changed

Friday's early afternoon trade: stocks little changed

US stocks were little changed in early afternoon trading on Friday, taking a breather after six straight days of gains and ahead of a three-day holiday weekend. Another strong day for consumer stocks was offset by weakness in healthcare and real estate st
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Tokyo stocks hit by OPEC move, Nintendo at eight-year high

Tokyo stocks hit by OPEC move, Nintendo at eight-year high

Tokyo stocks fell Friday as energy firms were hit by an OPEC decision not to cut output more to buoy oil prices, but videogame giant Nintendo hit an eight-year high on rosy sales prospects. Investors were disappointed that the Organization of the Petroleu
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Indian shares hit record highs

Indian shares hit record highs

Indian shares hit record highs on Friday, with Reliance Industries and Tata Steel Ltd leading the gains, as higher derivatives rollover led to strong follow-up buying in index heavyweights. The broader NSE index rose as much as 0.59 percent to a record hi
Published 27 May, 2017 12:00am
Supplies: GST withholding proposed to be withdrawn

Supplies: GST withholding proposed to be withdrawn

Taking a major step towards simplifying the procedures for registered taxpayers, the Federal Board of Revenue (FBR) has withdrawn provision of sales tax withholding on supplies from registered persons to other registered persons under the Finance Bill 201
Published 27 May, 2017 12:00am
EU wheat prices flat ahead of long holiday

EU wheat prices flat ahead of long holiday

European wheat prices were flat on Wednesday in light trade ahead of a long holiday weekend in many European countries and nearly unchanged US markets. The price of May milling wheat on Paris-based Euronext was unchanged by 1453 GMT at 167 euros a tonne.
Published 27 May, 2017 12:00am
FTSE gets sterling boost as Europe dragged lower by banks

FTSE gets sterling boost as Europe dragged lower by banks

European shares slipped on Friday, dragged down by weaker banks, but British stocks managed to hit new records as sterling slid on a poll showing a narrower lead for the ruling party less than two weeks before a general election. Sterling dived more than
Published 27 May, 2017 12:00am
Sterling suffers biggest one-day fall since January

Sterling suffers biggest one-day fall since January

Sterling suffered its steepest fall since January on Friday after an opinion poll showed the governing Conservatives' lead over the Labour opposition down to just 5 percentage points less than two weeks before a parliamentary election. The pound sank agai
Published 27 May, 2017 12:00am
Asian forex: Yuan at over three month high, ringgit jumps

Asian forex: Yuan at over three month high, ringgit jumps

China's yuan rose to a three-month high on Friday, and the Malaysian ringgit firmed to its strongest in nearly two years after OPEC and other oil producers agreed to keep output reduced for a further nine months, but most Asian currencies were directionle
Published 27 May, 2017 12:00am
Sri Lankan rupee up

Sri Lankan rupee up

The Sri Lankan rupee ended slightly higher on Friday as dollar selling by banks surpassed importer demand for the US currency, traders said. Rupee forwards were active, with spot-next forwards ending at 152.85/95 per dollar, compared with Thursday's close
Published 27 May, 2017 12:00am
Canadian dollar rises

Canadian dollar rises

The Canadian dollar edged higher against its US counterpart on Friday as prices of oil, one of Canada's major exports, stabilized after a sharp drop the day before. US crude prices were up 0.22 percent at $49.01 a barrel. Gains for the loonie came even as
Published 27 May, 2017 12:00am
Dollar steadies against basket of currencies in NY

Dollar steadies against basket of currencies in NY

The dollar steadied against a basket of major currencies on Thursday, a day after Federal Reserve minutes that dialed down some expectations of the central bank hiking interest rates soon. The dollar index, which tracks the greenback against six major riv
Published 27 May, 2017 12:00am
Early trade in New York: Dollar rises to one-week high

Early trade in New York: Dollar rises to one-week high

The dollar rose to a one-week high on Friday after upbeat US gross domestic product data while Britain's pound slipped after a poll showed a narrowing lead for the ruling Conservatives before elections next month. The dollar index, which tracks the greenb
Published 27 May, 2017 12:00am
Yen rises, sterling falters in Europe

Yen rises, sterling falters in Europe

The yen rose nearly 1 percent on Friday against the dollar after a dip in Treasury yields hit the US currency, while Britain's pound hit a three-week low after a poll showed a narrowing lead for the ruling Conservatives before elections next month. The do
Published 27 May, 2017 12:00am
Pounds slips, commodity currencies shaky in Asia

Pounds slips, commodity currencies shaky in Asia

Sterling fell on Friday after a poll showed a narrowing lead for British Prime Minister Theresa May over her opposition ahead of elections next month, while weakness in oil prices dragged on commodity-linked currencies. In a sign that the June 8 election
Published 27 May, 2017 12:00am
Aussie, kiwi down

Aussie, kiwi down

The Australian and New Zealand dollars nursed losses versus their US counterpart on Friday following a commodities rout, but were on track for hefty weekly gains against a soggy pound. The Australian dollar dropped to $0.7431, the weakest this week, havin
Published 27 May, 2017 12:00am
Southeast Asian stocks flat to lower

Southeast Asian stocks flat to lower

Southeast Asian shares ended flat to lower on Friday tracking weakness in Asian peers after an OPEC-led decision to extend output cut fell short of expectations, triggering a sell-off in energy stocks. At Thursday's meeting in Vienna, the Organization of
Published 27 May, 2017 12:00am
Australian stocks dive

Australian stocks dive

Australia stocks ended lower on Friday, battered by a downturn in commodity prices - especially oil - after OPEC's modest extension of output curbs disappointed investors who had hoped for more. The S&P/ASX 200 index slipped 37.9 points or 0.66 percent to
Published 27 May, 2017 12:00am
Over-optimism surrounds election-year budget
Mutual Funds

Over-optimism surrounds election-year budget

The federal government of Pakistan Muslim League (Nawaz) on Friday unveiled a Rs 4,753 billion deficit budget for the next fiscal year (2017-18), envisaging a huge spending in election year as well as an increase in pay and pension of military and civil g
Published 27 May, 2017 12:00am
Oil, banks trip up European shares

Oil, banks trip up European shares

European shares slid in thin trade on Friday as shares in energy firms and banks dropped, ending a lacklustre week relatively little changed. The pan-European STOXX 600 index closed 0.2 percent lower as did the euro zone blue chips. Banks were the biggest
Published 27 May, 2017 12:00am
Over-optimism surrounds election-year budget
Mutual Funds

Over-optimism surrounds election-year budget

The federal government of Pakistan Muslim League (Nawaz) on Friday unveiled a Rs 4,753 billion deficit budget for the next fiscal year (2017-18), envisaging a huge spending in election year as well as an increase in pay and pension of military and civil g
Published 27 May, 2017 12:00am
China stocks end week higher

China stocks end week higher

China stocks reversed earlier losses to end the week higher on Friday, led by the blue-chip CSI300 index posting its best week in six months as suspected state-directed buying offset concerns over a surprise move by Moody's to cut the country's credit rat
Published 27 May, 2017 12:00am
Over-optimism surrounds election-year budget
Mutual Funds

Over-optimism surrounds election-year budget

The federal government of Pakistan Muslim League (Nawaz) on Friday unveiled a Rs 4,753 billion deficit budget for the next fiscal year (2017-18), envisaging a huge spending in election year as well as an increase in pay and pension of military and civil g
Published 27 May, 2017 12:00am
Dewan Motors bags BMW Group Award

Dewan Motors bags BMW Group Award

Dewan Motors Private Limited, the official importer of BMW in Pakistan has been awarded "Excellence in Direct & Special Sales" in the Middle East for the year 2016. "It is yet another milestone in the illustrious history of Dewan Motors" said Dewan Muhamm
Published 27 May, 2017 12:00am
Dar presents Finance Bill amid 'go Nawaz go' slogans and walkout

Dar presents Finance Bill amid 'go Nawaz go' slogans and walkout

Amid 'go Nawaz go' slogans and walkouts, Finance Minister Ishaq Dar on Friday presented a copy of the Finance Bill 2017 in the Senate. The moment Chairman Senate Raza Rabbani gave the floor to Dar, the opposition lawmakers including senators belonging to
Published 27 May, 2017 12:00am
Dar presents Finance Bill amid 'go Nawaz go' slogans and walkout

Dar presents Finance Bill amid 'go Nawaz go' slogans and walkout

Amid 'go Nawaz go' slogans and walkouts, Finance Minister Ishaq Dar on Friday presented a copy of the Finance Bill 2017 in the Senate. The moment Chairman Senate Raza Rabbani gave the floor to Dar, the opposition lawmakers including senators belonging to
Published 27 May, 2017 12:00am
ANF recovers 1kg heroin from passenger

ANF recovers 1kg heroin from passenger

The Anti-Narcotics Force (ANF) recovered one kilogramme of heroin from a passenger at the Benazir Bhutto International Airport, officials said on Friday. ANF officials said the passenger, Irfan Masih, was set to board a flight for Abu Dhabi on Thursday ni
Published 27 May, 2017 12:00am
Businessmen, experts express mixed reactions

Businessmen, experts express mixed reactions

Business community and tax experts have expressed mixed reactions over proposed federal budget 2017-18. Talking to Business Recorder, Abdul Qadir Memon, former president Pakistan Tax Bar Association (PTBA) has termed a reasonable budget for tax year 2017-
Published 27 May, 2017 12:00am
Businessmen, experts express mixed reactions

Businessmen, experts express mixed reactions

Business community and tax experts have expressed mixed reactions over proposed federal budget 2017-18. Talking to Business Recorder, Abdul Qadir Memon, former president Pakistan Tax Bar Association (PTBA) has termed a reasonable budget for tax year 2017-
Published 27 May, 2017 12:00am
'Reforms initiative improves good governance in KP'

'Reforms initiative improves good governance in KP'

Commissioner, Right to Public Service Commission, Shah Sahib has claimed that the good governance has been improved in Khyber Pakhtunkhwa due to reforms initiatives of the KP government as compare to other provinces. He said international organisations ha
Published 27 May, 2017 12:00am
Hearing against LHC judge adjourns for arguments

Hearing against LHC judge adjourns for arguments

The Lahore High Court Chief Justice on Friday adjourned to May 29 the hearing of a petition seeking removal of a judge named in Panama Papers for establishing an offshore company for further arguments. The petitioner, Sajan Gulzar, pleaded that the name o
Published 27 May, 2017 12:00am
Shahbaz condoles with British home secretary

Shahbaz condoles with British home secretary

Punjab Chief Minister Muhammad Shehbaz Sharif on Friday telephoned Home Secretary of the United Kingdom Amber Rudd, condemned the Manchester attack and expressed his sympathies and condolences over the loss of precious lives. Shehbaz expressed his sympath
Published 27 May, 2017 12:00am
Prime Minister will appear in Panama case investigation: Rana

Prime Minister will appear in Panama case investigation: Rana

Punjab Law Minister Rana Sanaullah here on Friday in Punjab Assembly premises averred that Prime Minister Nawaz Sharif would appear in connection with Panama case investigation. He dilated that investigations were on by Joint Investigation Team (JIT) as p
Published 27 May, 2017 12:00am
LHC accepts lawyer's apology

LHC accepts lawyer's apology

A full bench of the Lahore High Court on Friday accepted written apology of Barrister Ehtesham for manhandling an additional district and sessions judge and ordered to restore his practicing license. The bench however referred the case of Mehar Ahsan and
Published 27 May, 2017 12:00am
Budget disappoints textile industry: APTMA

Budget disappoints textile industry: APTMA

The All Pakistan Textile Mills Association (APTMA) said on Friday that the budget 2017-18 has disappointed the textile industry as the government has not announced implementation of the proposals given by the industry. The textile industry had demanded of
Published 27 May, 2017 12:00am
Budget disappoints textile industry: APTMA

Budget disappoints textile industry: APTMA

The All Pakistan Textile Mills Association (APTMA) said on Friday that the budget 2017-18 has disappointed the textile industry as the government has not announced implementation of the proposals given by the industry. The textile industry had demanded of
Published 27 May, 2017 12:00am
Special ST regime made part of ST Act 1990

Special ST regime made part of ST Act 1990

The special sales tax regime for retailers is made part of Sales Tax Act 1990 by seeking amendment in section 3 of the Sales Tax Act 1990 through Finance Bill 2017. According to a tax expert, the sale special regimes introduced vide SRO 608(i)/2013 was in
Published 27 May, 2017 12:00am
FPCCI terms budget balanced & moderate

FPCCI terms budget balanced & moderate

The Federation of Pakistan Chambers of Commerce and Industry has termed the proposed federal budget for FY2017-18 as apparently balanced and moderate. However, the Chamber's representatives said on Friday that they would come up with an official point of
Published 27 May, 2017 12:00am
FBR will continue to rely on indirect taxes
Exchange

FBR will continue to rely on indirect taxes

The Federal Board of Revenue (FBR) will continue heavily relying upon indirect taxes for achieving the overall fixed target of Rs 4,013 billion for 2017-18, as the FBR will collect Rs 1594.910 billion through direct taxes and Rs 2418.090 billion in shape
Published 27 May, 2017 12:00am
Massive reduction in Nacta budget

Massive reduction in Nacta budget

The government has massively reduced the allocation for National Counter Terrorism Authority (NACTA) while allocating a meagre amount of Rs 148 million in the budget 2017-18 compared to Rs 1.56 billion sanctioned for the fiscal year 2016-17. According to
Published 27 May, 2017 12:00am
Energy experts' meeting held

Energy experts' meeting held

A meeting of energy experts to assess the load forecast, generation planning and to devise a plan for future needs of power sector was held under the Chairmanship of Managing Director NTDC Dr. Fiaz A. Chaudhry, here at the WAPDA House on Friday. Welcoming
Published 27 May, 2017 12:00am
4,139 children sexually abused in 2016: report

4,139 children sexually abused in 2016: report

According to a report prepared by Sahil on Child Sexual Abuse, there are 4139 children, who have sexually been abused in 2016. In the year of 2016, the Cruel Number data reveals that 2410 girls and 1729 boys are victims of sexual exploitation. Astonishing
Published 27 May, 2017 12:00am
Opposition lawmakers stage walkout amid PM's presence

Opposition lawmakers stage walkout amid PM's presence

The government was left red-faced in National Assembly on Friday as opposition lawmakers staged a walkout amid budget speech by Finance Minister Ishaq Dar with "go Nawaz go" slogans in presence of Prime Minister Nawaz Sharif.
Published 27 May, 2017 12:00am
Rs 200 million allocated for FAD's two projects

Rs 200 million allocated for FAD's two projects

The government has earmarked Rs 200 million for two new projects of Foreign Affairs Division (FAD) in the federal budget 2017-18, presented in the National Assembly on Friday. According to the budget document, the Foreign Affairs Division will execute two
Published 27 May, 2017 12:00am
Interior division gets Rs 15.66 billion under PSDP

Interior division gets Rs 15.66 billion under PSDP

The government has earmarked a sum of Rs 15.666 billion for Interior Division for fiscal year 2017-18 under Public Sector Development Programme (PSDP), compared to Rs 11.56 billion in fiscal year 2016-17. The budget document shows an increase of 26.20 per
Published 27 May, 2017 12:00am
Saleem Shehzad granted bail in two cases

Saleem Shehzad granted bail in two cases

An Anti-terrorism Court (ATC) on Friday granted bail to former central leader of Muttahida Qaumi Movement (MQM) Saleem Shehzad in two cases. The ATC heard bail application of Saleem Shehzad in murder case of one Shoaibullah and another case relating to an
Published 27 May, 2017 12:00am
GST on steel up by 17 percent to Rs 10.5 per unit

GST on steel up by 17 percent to Rs 10.5 per unit

The federal government has proposed to increase sales tax for steel sector by 17 percent to Rs 10.5 per unit of electricity for the next fiscal year 2017-18. Steel sector is currently paying sales tax on the basis of consumption of electricity at the rate
Published 27 May, 2017 12:00am
GST on steel up by 17 percent to Rs 10.5 per unit

GST on steel up by 17 percent to Rs 10.5 per unit

The federal government has proposed to increase sales tax for steel sector by 17 percent to Rs 10.5 per unit of electricity for the next fiscal year 2017-18. Steel sector is currently paying sales tax on the basis of consumption of electricity at the rate
Published 27 May, 2017 12:00am
Major relief provided to people?

Major relief provided to people?

The government seems to have provided a major relief to ordinary citizens in the budget 2017-18 and provincial assessment concept has been abolished by omitting provisions of section 122C from the Income Tax Ordinance, 2001. As per Budget 2017-18 document
Published 27 May, 2017 12:00am
PTI workers barge into grid station, restore power supply

PTI workers barge into grid station, restore power supply

Enraged by traumatizing electricity loadshedding, PTI workers barged into a grid station on Friday, and turned on electricity supply to all feeders. The workers, under the leadership of PTI MPA Fazal Elahi, entered the station and opened the closed feeder
Published 27 May, 2017 12:00am
Terrorist arrested

Terrorist arrested

The Counter Terrorism Department (CTD) on Friday arrested a terrorist from Charsadda Road, Peshawar. The accused was wanted to police for terrorist activities in Charsadda in 2009. Meanwhile, two extortionists were also arrested during a raid in Hashtnagr
Published 27 May, 2017 12:00am
Police resort to baton charge on farmers' rally

Police resort to baton charge on farmers' rally

The city police on Friday resorted to baton charge and tear gas shelling on activists of Pakistan Kissan Ittehad (PKI) who were demanding subsidies on electricity and fertilisers in the budget 2017-18. A large number of farmers from different parts of Pun
Published 27 May, 2017 12:00am
Peaceful Afghanistan in the best interest of Pakistan: Siraj

Peaceful Afghanistan in the best interest of Pakistan: Siraj

Ameer, Jamaat-e-Islami, Senator Sirajul Haq has called for revisiting the foreign policy to bring improvement in relations with Afghanistan and other neighbouring countries. "Peaceful and prosperous Afghanistan is in best interest of Pakistan as well as e
Published 27 May, 2017 12:00am
Unscheduled load-shedding Nepra issues notice to KE

Unscheduled load-shedding Nepra issues notice to KE

National Electric Power Regulatory Authority (NEPRA) has taken a serious notice on un-scheduled loadshedding which has been carried out in various areas of K-Electric during the last three days. In this regard, CEO (K-Electric) has been directed to immedi
Published 27 May, 2017 12:00am
Farmers' bashing: Bilawal lashes out at Sharifs

Farmers' bashing: Bilawal lashes out at Sharifs

Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari on Friday condemned the crackdown on peasants and farmers in Islamabad and termed it as a dictatorial action by Nawaz Sharif government. Announcing his support for the protest and demands of far
Published 27 May, 2017 12:00am
Rs 1.817 billion allocated for Supreme Court

Rs 1.817 billion allocated for Supreme Court

The government has allocated Rs 1.817 billion approximately for the Supreme Court of Pakistan in the federal budget 2017-18 against the outgoing fiscal year's revised estimate of Rs 1.704 billion, showing an increase of over Rs 113 million.
Published 27 May, 2017 12:00am
Rs 1.817 billion allocated for Supreme Court

Rs 1.817 billion allocated for Supreme Court

The government has allocated Rs 1.817 billion approximately for the Supreme Court of Pakistan in the federal budget 2017-18 against the outgoing fiscal year's revised estimate of Rs 1.704 billion, showing an increase of over Rs 113 million.
Published 27 May, 2017 12:00am
Pakistan participates in UN Bazaar in New York

Pakistan participates in UN Bazaar in New York

A range of Pakistani products, both food and merchandise, were on "display and for sale" at the annual United Nations International Bazaar held at the rain-swept UN Headquarters in New York. Despite wet and dreary weather, a number of people visited the b
Published 27 May, 2017 12:00am
Rs 90.516 billion allocated for education and services

Rs 90.516 billion allocated for education and services

The government has earmarked Rs 90.516 billion for education affairs and services in the federal budget for 2017-18 against the revised allocation of Rs 84.707 billion for the current fiscal year, showing an increase of around 6 percent.
Published 27 May, 2017 12:00am
Rs 1.61 billion earmarked for food ministry

Rs 1.61 billion earmarked for food ministry

The government has allocated Rs 1,614.266 million for Ministry of National Food Security and Research (MNFS&R) in the annual budget for the fiscal year 2017-18 under Public Sector Development Programme (PSDP), compared to Rs 1520.520 million in the fiscal
Published 27 May, 2017 12:00am
PPP Punjab rejects federal budget

PPP Punjab rejects federal budget

Pakistan Peoples Party (PPP) Punjab has rejected the federal budget terming it anti-people, anti-industry and anti-Pakistan. Top provincial party leadership feared an increase in inflation in the wake of federal budget 2017-18. They said the new budget wo
Published 27 May, 2017 12:00am
PCSW launches transitional home for violence victims

PCSW launches transitional home for violence victims

In order to support economic and social empowerment of women, Punjab Commission on the Status of Women (PCSW) launched the Transitional Home for women victims of violence, at Dar-ul-Falah, Social Welfare Complex, Township, Lahore, on Friday.
Published 27 May, 2017 12:00am
Business community terms budget a 'bundle of numerology'

Business community terms budget a 'bundle of numerology'

Local business community have expressed its dissatisfaction over the federal budget for 2017-18 and termed a bundle of numerology. Expressing their comments over the budget they said that Sialkot which is hub of cottage industry and only export oriented c
Published 27 May, 2017 12:00am
IPPs at risk of shutdown for non-payment of bills

IPPs at risk of shutdown for non-payment of bills

The Independent Power Producers have given a veiled threat to the government saying that many IPPs are at the risk of shutting down due to non-payments of their bills (circular debt) despite their strong and earnest desire to keep operating to help the go
Published 27 May, 2017 12:00am
Mercury crosses 51°C

Mercury crosses 51°C

The blistering heat has engulfed country as mercury crossed 51 degree Celsius at Jacobabad, Sibi; Dadu, Larkana, Turbat 50°C; Noor Pur, Thal, Bhakkar, Sukkur, Moen-jo-daro, Sakrand 49 C; R Y Khan 48°C; Lahore, Faisalabad, Multan, D G Khan, D I Khan, Bahaw
Published 27 May, 2017 12:00am
LCCI terms budget an agenda for economic revival

LCCI terms budget an agenda for economic revival

The Lahore Chamber of Commerce and Industry has termed the federal budget 2017-18 as an agenda for economic revival to resolve energy crisis, promote investment and boost agriculture sector. LCCI president Abdul Basit, soon after the budget speech, addres
Published 27 May, 2017 12:00am
DCs urged to improve dengue surveillance mechanism

DCs urged to improve dengue surveillance mechanism

Chief Secretary Punjab Capt Zahid Saeed (retd) has directed Deputy Commissioners to improve mechanism for dengue surveillance and reporting, saying that surveillance teams should focus on quality of work. While addressing a meeting regarding dengue contro
Published 27 May, 2017 12:00am
Indian BSF arrests Pakistani man

Indian BSF arrests Pakistani man

One Pakistani youngster crossed zero line at the Wagha border from Pakistani side to India on Friday. The Indian Border Security Force arrested him immediately. Sources said 20-years-old Pakistani youngster from Swat crossed zero line when spectators were
Published 27 May, 2017 12:00am
Mixed response over budget 2017-18

Mixed response over budget 2017-18

Reacting to budget 2016-17, business leaders and experts have expressed mixed reaction, saying more steps are required to ensure revival of industrial growth and give boost to dwindling exports. Senior leader of ruling Pakistan Muslim League-Nawaz Mohamma
Published 27 May, 2017 12:00am
PPDWP approves 10 uplift schemes worth Rs 29.322 billion

PPDWP approves 10 uplift schemes worth Rs 29.322 billion

The Punjab Provincial Development Working Party approved 10 development schemes of various sectors with an estimated cost of Rs 29.322 billion. These schemes were approved in the 72nd meeting of Provincial Development Working Party (PDWP) of current fisca
Published 27 May, 2017 12:00am
Shahbaz vows to make Pakistan a great country

Shahbaz vows to make Pakistan a great country

Chief Minister Punjab Muhammad Shehbaz Sharif has vowed to make Pakistan a great country with the strength of unity. He was talking to a delegation of overseas Pakistanis living in the Europe who called on him on Friday. Shahbaz said that Pakistanis livin
Published 27 May, 2017 12:00am
Industrial sector: no incentive announced in budget: HCCI

Industrial sector: no incentive announced in budget: HCCI

Vice President Hyderabad Chamber of Commerce and Industry(HCCI) Ziauddin has expressed disappointment over the Budget 2017-2018 adding that it provides no incentive to industrial sector of the country which could further deteriorate the exports particular
Published 27 May, 2017 12:00am
EFP VP criticises bank holiday for Zakat deduction

EFP VP criticises bank holiday for Zakat deduction

The decades old tradition of banks taking a Zakat holiday on the eve of Ramadan to deduct Zakat from Savings accounts should now be discontinued because financial institutions all over Pakistan have installed the latest, high speed technology. Banks as we
Published 27 May, 2017 12:00am
EFP VP criticises bank holiday for Zakat deduction

EFP VP criticises bank holiday for Zakat deduction

The decades old tradition of banks taking a Zakat holiday on the eve of Ramadan to deduct Zakat from Savings accounts should now be discontinued because financial institutions all over Pakistan have installed the latest, high speed technology. Banks as we
Published 27 May, 2017 12:00am
Bilawal inaugurates SMIU's senate hall

Bilawal inaugurates SMIU's senate hall

Chairman of the Pakistan Peoples Party (PPP), Bilawal Bhutto Zardari, during his visit to the Sindh Madressatul Islam University (SMIU) here on Friday inaugurated the Senate Hall of the institution. He also presided over a meeting of vice chancellors of v
Published 27 May, 2017 12:00am
Pharma industry hails budget

Pharma industry hails budget

The pharmaceutical industry has welcomed reduction of customs duty on pre-fabricated modular clean rooms panels from 20 percent to 3 percent in the 2017-18 federal budget. Talking to Business Recorder, the chairman of the Pakistan Pharmaceutical Manufactu
Published 27 May, 2017 12:00am
SPLA ends boycott of exams: minister

SPLA ends boycott of exams: minister

Sindh Education Minister Jam Mehtab Hussain Dahar on Friday said the Sindh Professors and Lecturers Association (SPLA) has ended its boycott of inter exams. He was speaking to the media while visiting an examination centre. Earlier in the day, students we
Published 27 May, 2017 12:00am
SHC dismisses plea to verify Dr Asim's documents

SHC dismisses plea to verify Dr Asim's documents

Sindh High Court (SHC) on Friday dismissed plea to verify Dr Asim Hussain's documents from foreign ministry. During the hearing, the judge remarked that Dr Asim was no more in the custody of National Accountability Bureau (NAB) and had been released on ba
Published 27 May, 2017 12:00am
Small traders describe budget as 'unattractive'

Small traders describe budget as 'unattractive'

Small traders on Friday termed the proposed fiscal budget 2017-18 as 'unattractive' because the "budget mainly focuses on aiding financial interests of the elites." They said that the budget propositions are of an average size to cater to the needs of sma
Published 27 May, 2017 12:00am
PSX, GBCCI sign MoU for mutual cooperation
Exchange

PSX, GBCCI sign MoU for mutual cooperation

Pakistan Stock Exchange (PSX) has signed a Memorandum of Understanding (MoU) with Gilgit Baltistan Chamber of Commerce and Industry (GBCCI) for mutual cooperation and collaboration to facilitate access to equity financing for Small and Medium Enterprises
Published 27 May, 2017 12:00am
PSX, GBCCI sign MoU for mutual cooperation
Exchange

PSX, GBCCI sign MoU for mutual cooperation

Pakistan Stock Exchange (PSX) has signed a Memorandum of Understanding (MoU) with Gilgit Baltistan Chamber of Commerce and Industry (GBCCI) for mutual cooperation and collaboration to facilitate access to equity financing for Small and Medium Enterprises
Published 27 May, 2017 12:00am
SECP, SBP ink LoU to set up Council of Regulators
Exchange

SECP, SBP ink LoU to set up Council of Regulators

The State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) on Friday signed a letter of Understanding (LoU) to establish a Council of Regulators to mitigate systemic risk. Riaz Riazuddin, Acting Governor, SBP, and Zafar
Published 27 May, 2017 12:00am
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