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Print - 2017-10-21
PTBA's reservations on some provisions of AMLA 2010

PTBA's reservations on some provisions of AMLA 2010

Pakistan Tax Bar Association (PTBA) has expressed serious reservations on some provisions of Anti-Money Laundering Act (AMLA) 2010. In a letter sent to the chairman FBR, the association said money laundering and terrorism financing were very serious offen
Published 21 Oct, 2017 12:00am
Heroin worth Rs 190 million seized

Heroin worth Rs 190 million seized

Sindh Excise and Taxation Department (ETD) on Friday claimed to have arrested a drug peddler and seized substantial quantity of heroin from his possession. According to details, the excise police Kashmore had intercepted a truck bearing registration no C-
Published 21 Oct, 2017 12:00am
Positive economy outcome of improved security: SBP dy governor

Positive economy outcome of improved security: SBP dy governor

Deputy Governor State Bank of Pakistan Jameel Ahmad, while appreciating the reviving economic activities in the country, has lauded the impact of improved security conditions, attributed much to the operation Zarb-e-Azb, and the on-going operation Radd-ul
Published 21 Oct, 2017 12:00am
Minister apprised about PNSC's performance

Minister apprised about PNSC's performance

Federal Minister for Ports and Shipping, Mir Hasil Khan Bizenjo presides over a meeting held in PNSC board room on current issues of his ministry and its organisations, over an agenda of performance of each organisation, future plans of organisations, dev
Published 21 Oct, 2017 12:00am
Telenor, Plan International to strengthen birth registration

Telenor, Plan International to strengthen birth registration

Telenor Pakistan and Plan International Pakistan signed a partnership on the project "Strengthening Civil Registration of Vital Statistics (CRVS) in Pakistan through appropriate use of Digital Technologies" to digitally enhance the system of registering a
Published 21 Oct, 2017 12:00am
Environment laws: CJ adjourns hearing till November 8

Environment laws: CJ adjourns hearing till November 8

Chief Justice Syed Mansoor Ali Shah here on Friday adjourned hearing till November 8 the proceedings of a petition seeking implementation of environment laws and directed the law officer to present the notification about smog policy. Earlier, the Punjab E
Published 21 Oct, 2017 12:00am
Gold import rises by 86.02 percent

Gold import rises by 86.02 percent

The country's import of gold shot up by 86.02 percent to $4.498 million in July-Aug of fiscal year 2018, official figures said. Increase in gold import stands at $2.08 million in July-Aug this fiscal year from $2.418 million in July-Aug of fiscal year 201
Published 21 Oct, 2017 12:00am
OGRA's stakeholders' sessions to be held from November 21 to December 5

OGRA's stakeholders' sessions to be held from November 21 to December 5

The Oil and Gas Regulatory Authority (OGRA) will start stakeholders' engagement sessions from November 21 to December 5, 2017 to revisit the regulated Third Party Access (TPA) Rules 2012 and tariff regime of natural gas. The gas sector reforms have been i
Published 21 Oct, 2017 12:00am
Partly cloudy weather likely today

Partly cloudy weather likely today

Temperature is expected to drop to 36 degrees Celsius in the next 48 hours, as the Met Office on Friday forecast partly cloudy weather for Karachi. Mercury level is likely to drop to 37 degrees Celsius on Saturday and further to 36 degrees Celsius on Sund
Published 21 Oct, 2017 12:00am
Green Pakistan Project: NA body recommends third party evaluation

Green Pakistan Project: NA body recommends third party evaluation

The National Assembly Standing Committee on Climate Change Friday recommended that a third party evaluation and monitoring mechanism of Green Pakistan Program should be devised to ensure proper implementation of the project. A meeting of the committee was
Published 21 Oct, 2017 12:00am
Four held, weapons recovered in Islamabad

Four held, weapons recovered in Islamabad

Islamabad police (IP)on Friday conducted search operation in the proximity of Kohsar and Nilore police stations and arrested four suspects besides recovering weapons from their possession, a police spokesman said. The officials of Islamabad Police, Pak Ra
Published 21 Oct, 2017 12:00am
Number of returns filed by 18th reaches 406,310: FBR chief informs TRC

Number of returns filed by 18th reaches 406,310: FBR chief informs TRC

Finance Minister Ishaq Dar Friday held a meeting with members of Tax Reforms Commission's (TRC) Implementation Committee and discussed the way forward for improvement in tax system. Chairman of the TRC Implementation Committee, Special Assistant to the Pr
Published 21 Oct, 2017 12:00am
DG Rangers meets Sindh CM

DG Rangers meets Sindh CM

DG Rangers Sindh Major General Mohammad Saeed called on Sindh Chief Minister Syed Murad Ali Shah on Friday at CM House to discuss the ongoing targeted operation in the city. On this occasion CM praised the law enforcement agencies (LEA) for co-ordinated s
Published 21 Oct, 2017 12:00am
A Mufti's woes

A Mufti's woes

Police managed to nab Mufti Abdul Qavi from the Punjab Highway after he fled from the court premises when his arrest orders were issued in the Qandeel Baloch murder case. According to Multan Cantt SP, Dr Fahad, police, with the aid of highway authorities,
Published 21 Oct, 2017 12:00am
Echoes of Mao: China Communist Party fawns over 'Xi thought'

Echoes of Mao: China Communist Party fawns over 'Xi thought'

As the Chinese Communist Party gathers for its most defining congress in decades, a new catchphrase is echoing through Beijing's cavernous Great Hall of the People: Xi Jinping's "new era thought". The catechism is being reverentially uttered by almost eve
Published 21 Oct, 2017 12:00am
Encountering cartels

Encountering cartels

In the Wealth of Nations (1776), Adam Smith pointed out the cartel problem as the "people of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to rai
Published 21 Oct, 2017 12:00am
Coal not a good option

Coal not a good option

Prime Minister Shahid Khaqan Abbasi last Saturday inaugurated Pakistan's first coal, clinker and cement terminal at Port Qasim Karachi, established in the private sector by Marine Group who is reported to have invested around US$ 250 million - largely und
Updated 21 Oct, 2017 09:20am
For the benefit of senior citizens

For the benefit of senior citizens

Federal Finance Minister Ishaq Dar while chairing a meeting to review the performance of National Savings Schemes (NSS) directed that the 10 percent tax that was recently imposed on two products notably the Pensioners Benefit Account and Behbood Savings C
Updated 21 Oct, 2017 01:58pm
Xi's vision for 'new era'
Exchange

Xi's vision for 'new era'

China is poised to become the world's largest economy in the not too distant future, and this found its best expression in Chinese President Xi Jinping's 210-minute speech at the Great Hall of the People. He declared that China's will be the "most modern"
Published 21 Oct, 2017 12:00am
Anti-terrorism policies started paying dividends: Marriyum

Anti-terrorism policies started paying dividends: Marriyum

Minister of State for Information, Broadcasting and National Heritage Marriyum Aurangzeb Friday said that the implementation of the anti-terrorism policies through the efforts of the government, cooperation of the provincial governments, sacrifices of the
Published 21 Oct, 2017 12:00am
G7, tech giants agree on plan to block jihadist content online

G7, tech giants agree on plan to block jihadist content online

G7 countries and tech giants including Google, Facebook and Twitter on Friday agreed to work together to block the dissemination of Islamist extremism over the internet. "These are the first steps towards a great alliance in the name of freedom," Italian
Published 21 Oct, 2017 12:00am
SBP acts to check $ hike
Currency

SBP acts to check $ hike

The State Bank of Pakistan, under the chairmanship of Syed Irfan Ali, Executive Director, called an emergency meeting of officials of Exchange Companies Friday. The officials of ECs led by Zafar Paracha, General Secretary, Exchange Companies Association o
Published 21 Oct, 2017 12:00am
SBP acts to check $ hike
Currency

SBP acts to check $ hike

The State Bank of Pakistan, under the chairmanship of Syed Irfan Ali, Executive Director, called an emergency meeting of officials of Exchange Companies Friday. The officials of ECs led by Zafar Paracha, General Secretary, Exchange Companies Association o
Published 21 Oct, 2017 12:00am
SBP acts to check $ hike
Currency

SBP acts to check $ hike

The State Bank of Pakistan, under the chairmanship of Syed Irfan Ali, Executive Director, called an emergency meeting of officials of Exchange Companies Friday. The officials of ECs led by Zafar Paracha, General Secretary, Exchange Companies Association o
Published 21 Oct, 2017 12:00am
Pakistan among top 5 PPI investment recipients

Pakistan among top 5 PPI investment recipients

Pakistan has entered the list of the top five recipients of Private Participation in Infrastructure (PPI) investment after receiving $3.9 billion, notes World Bank Group report. According to the Bank report, "PPI half year (Jan-June) update", Indonesia wa
Published 21 Oct, 2017 12:00am
Pakistan among top 5 PPI investment recipients

Pakistan among top 5 PPI investment recipients

Pakistan has entered the list of the top five recipients of Private Participation in Infrastructure (PPI) investment after receiving $3.9 billion, notes World Bank Group report. According to the Bank report, "PPI half year (Jan-June) update", Indonesia wa
Published 21 Oct, 2017 12:00am
Pakistan among top 5 PPI investment recipients

Pakistan among top 5 PPI investment recipients

Pakistan has entered the list of the top five recipients of Private Participation in Infrastructure (PPI) investment after receiving $3.9 billion, notes World Bank Group report. According to the Bank report, "PPI half year (Jan-June) update", Indonesia wa
Published 21 Oct, 2017 12:00am
Missing persons' issue: Farhatullah Babar quits Senate body

Missing persons' issue: Farhatullah Babar quits Senate body

Pakistan People's Party (PPP) Senator Farhatullah Babar has resigned from the Senate Standing Committee on Defence. According to sources, there is a different viewpoint of Babar on missing persons, constitutional powers of the Parliament and establishment
Published 21 Oct, 2017 12:00am
Missing persons' issue: Farhatullah Babar quits Senate body

Missing persons' issue: Farhatullah Babar quits Senate body

Pakistan People's Party (PPP) Senator Farhatullah Babar has resigned from the Senate Standing Committee on Defence. According to sources, there is a different viewpoint of Babar on missing persons, constitutional powers of the Parliament and establishment
Published 21 Oct, 2017 12:00am
India welcomes Tillerson's anti-China comments

India welcomes Tillerson's anti-China comments

India on Friday welcomed US Secretary of State Rex Tillerson's comments that Washington would rather work with New Delhi than Beijing over the next century, saying it shared his optimism about their burgeoning relationship. Speaking ahead of a visit to In
Published 21 Oct, 2017 12:00am
India welcomes Tillerson's anti-China comments

India welcomes Tillerson's anti-China comments

India on Friday welcomed US Secretary of State Rex Tillerson's comments that Washington would rather work with New Delhi than Beijing over the next century, saying it shared his optimism about their burgeoning relationship. Speaking ahead of a visit to In
Published 21 Oct, 2017 12:00am
HBL''''s profit reduces to Rs 1.6 billion with NY settlement payment

HBL''''s profit reduces to Rs 1.6 billion with NY settlement payment

HBL''''s consolidated profit after tax for the nine months ended September 30, 2017 has reduced to Rs 1.6 billion as a result of the US $ 225 million settlement payment made to the New York State Department of Financial Services. Consolidated profit befor
Published 21 Oct, 2017 12:00am
The Weather

The Weather

The weather report on Friday (October 20, 2017) and the forecast for Saturday (October 21, 2017).

Published 21 Oct, 2017 12:00am
HBL''s profit reduces to Rs 1.6 billion with NY settlement payment

HBL''s profit reduces to Rs 1.6 billion with NY settlement payment

HBL''s consolidated profit after tax for the nine months ended September 30, 2017 has reduced to Rs 1.6 billion as a result of the US $ 225 million settlement payment made to the New York State Department of Financial Services. Consolidated profit before
Published 21 Oct, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (October 20, 2017).

Published 21 Oct, 2017 12:00am
HBL's profit reduces to Rs 1.6 billion with NY settlement payment

HBL's profit reduces to Rs 1.6 billion with NY settlement payment

HBL's consolidated profit after tax for the nine months ended September 30, 2017 has reduced to Rs 1.6 billion as a result of the US $ 225 million settlement payment made to the New York State Department of Financial Services. Consolidated profit before t
Published 21 Oct, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (October 20, 2017).

Published 21 Oct, 2017 12:00am
HBL's profit reduces to Rs 1.6 billion with NY settlement payment

HBL's profit reduces to Rs 1.6 billion with NY settlement payment

HBL's consolidated profit after tax for the nine months ended September 30, 2017 has reduced to Rs 1.6 billion as a result of the US $ 225 million settlement payment made to the New York State Department of Financial Services. Consolidated profit before t
Published 21 Oct, 2017 12:00am
SECP directs listed companies to e-file statements
Exchange

SECP directs listed companies to e-file statements

The Securities and Exchange Commission of Pakistan (SECP) has directed listed companies to electronically file annual and quarterly financial statements. The SECP has issued circular number 24 of 2017 here on Friday. According to the circular, pursuant to
Published 21 Oct, 2017 12:00am
SECP directs listed companies to e-file statements
Exchange

SECP directs listed companies to e-file statements

The Securities and Exchange Commission of Pakistan (SECP) has directed listed companies to electronically file annual and quarterly financial statements. The SECP has issued circular number 24 of 2017 here on Friday. According to the circular, pursuant to
Published 21 Oct, 2017 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (October 20, 2017).

Published 21 Oct, 2017 12:00am
SECP directs listed companies to e-file statements
Exchange

SECP directs listed companies to e-file statements

The Securities and Exchange Commission of Pakistan (SECP) has directed listed companies to electronically file annual and quarterly financial statements. The SECP has issued circular number 24 of 2017 here on Friday. According to the circular, pursuant to
Published 21 Oct, 2017 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (October 20, 2017)

Published 21 Oct, 2017 12:00am
Yao Jing new Chinese Ambassador to Pakistan

Yao Jing new Chinese Ambassador to Pakistan

Yao Jing has been appointed as new Chinese Ambassador to Pakistan, an official of Chinese Ministry of Foreign Affairs said on Thursday. Yao Jing, who has served as Chinese Ambassador to Afghanistan, will soon assume his new assignment, he said in a statem
Published 21 Oct, 2017 12:00am
Yao Jing new Chinese Ambassador to Pakistan

Yao Jing new Chinese Ambassador to Pakistan

Yao Jing has been appointed as new Chinese Ambassador to Pakistan, an official of Chinese Ministry of Foreign Affairs said on Thursday. Yao Jing, who has served as Chinese Ambassador to Afghanistan, will soon assume his new assignment, he said in a statem
Published 21 Oct, 2017 12:00am
Government accused of ignoring CPEC Western route

Government accused of ignoring CPEC Western route

A parliamentary panel on Friday observed that the government has ignored the western route of China-Pakistan Economic Corridor (CPEC) by not earmarking any amount for the project, and is declaring old road projects funded by other international financial
Published 21 Oct, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (October 20, 2017).

Published 21 Oct, 2017 12:00am
Government accused of ignoring CPEC Western route

Government accused of ignoring CPEC Western route

A parliamentary panel on Friday observed that the government has ignored the western route of China-Pakistan Economic Corridor (CPEC) by not earmarking any amount for the project, and is declaring old road projects funded by other international financial
Published 21 Oct, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (October 20, 2017).

Published 21 Oct, 2017 12:00am
Government accused of ignoring CPEC Western route

Government accused of ignoring CPEC Western route

A parliamentary panel on Friday observed that the government has ignored the western route of China-Pakistan Economic Corridor (CPEC) by not earmarking any amount for the project, and is declaring old road projects funded by other international financial
Published 21 Oct, 2017 12:00am
Prime Minister for enhanced trade with D-8 member states

Prime Minister for enhanced trade with D-8 member states

With focus on upgrading its communications, energy infrastructure, and enhancing regional connectivity under the China-Pakistan Economic Corridor (CPEC), Pakistan on Friday sought enhanced trade and economic partnerships with D-8 member states through str
Published 21 Oct, 2017 12:00am
Prime Minister for enhanced trade with D-8 member states

Prime Minister for enhanced trade with D-8 member states

With focus on upgrading its communications, energy infrastructure, and enhancing regional connectivity under the China-Pakistan Economic Corridor (CPEC), Pakistan on Friday sought enhanced trade and economic partnerships with D-8 member states through str
Published 21 Oct, 2017 12:00am
THE RUPEE: rising trend
Currency

THE RUPEE: rising trend

Rising trend prevailed on money market on Friday in the process of trading, dealers said. The rupee shed slightly in terms of the dollar for buying and selling at Rs 105.42 and Rs 105.44 respectively, they said.
Published 21 Oct, 2017 12:00am
Prime Minister for enhanced trade with D-8 member states

Prime Minister for enhanced trade with D-8 member states

With focus on upgrading its communications, energy infrastructure, and enhancing regional connectivity under the China-Pakistan Economic Corridor (CPEC), Pakistan on Friday sought enhanced trade and economic partnerships with D-8 member states through str
Published 21 Oct, 2017 12:00am
THE RUPEE: rising trend
Currency

THE RUPEE: rising trend

Rising trend prevailed on money market on Friday in the process of trading, dealers said. The rupee shed slightly in terms of the dollar for buying and selling at Rs 105.42 and Rs 105.44 respectively, they said.
Published 21 Oct, 2017 12:00am
BRIndex100 extends gains
Exchange

BRIndex100 extends gains

Despite foreign selling, a bullish trend continued on Pakistan Stock Exchange on the back of healthy buying, mainly by local investors. BRIndex100 gained 65.49 points or 1.47 percent to close at 4,527.64 points on Friday. BRIndex100 touched intraday high
Published 21 Oct, 2017 12:00am
BRIndex100 extends gains
Exchange

BRIndex100 extends gains

Despite foreign selling, a bullish trend continued on Pakistan Stock Exchange on the back of healthy buying, mainly by local investors. BRIndex100 gained 65.49 points or 1.47 percent to close at 4,527.64 points on Friday. BRIndex100 touched intraday high
Published 21 Oct, 2017 12:00am
BRIndex100 extends gains
Exchange

BRIndex100 extends gains

Despite foreign selling, a bullish trend continued on Pakistan Stock Exchange on the back of healthy buying, mainly by local investors. BRIndex100 gained 65.49 points or 1.47 percent to close at 4,527.64 points on Friday. BRIndex100 touched intraday high
Published 21 Oct, 2017 12:00am
1Q current account deficit soars to $3.6 billion YoY
Exchange

1Q current account deficit soars to $3.6 billion YoY

The country''s current account deficit rose to $3.6 billion in first quarter of current fiscal year FY18 (July-September 2017) as compared to $1.6 billion recorded in the corresponding period in FY17. According to data issued by the State Bank of Pakistan
Published 21 Oct, 2017 12:00am
1Q current account deficit soars to $3.6 billion YoY
Exchange

1Q current account deficit soars to $3.6 billion YoY

The country's current account deficit rose to $3.6 billion in first quarter of current fiscal year FY18 (July-September 2017) as compared to $1.6 billion recorded in the corresponding period in FY17. According to data issued by the State Bank of Pakistan,
Published 21 Oct, 2017 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (October 20, 2017).

Published 21 Oct, 2017 12:00am
1Q current account deficit soars to $3.6 billion YoY
Exchange

1Q current account deficit soars to $3.6 billion YoY

The country's current account deficit rose to $3.6 billion in first quarter of current fiscal year FY18 (July-September 2017) as compared to $1.6 billion recorded in the corresponding period in FY17. According to data issued by the State Bank of Pakistan,
Published 21 Oct, 2017 12:00am
PSM sell-off plan still intact

PSM sell-off plan still intact

The plan for privatisation of Pakistan Steel Mills is still intact and option under consideration is to give the PSM on a 30-year lease, said secretary privatisation. While briefing the Senate Standing Committee on Industries, presided over by Senator Hid
Published 21 Oct, 2017 12:00am
PSM sell-off plan still intact

PSM sell-off plan still intact

The plan for privatisation of Pakistan Steel Mills is still intact and option under consideration is to give the PSM on a 30-year lease, said secretary privatisation. While briefing the Senate Standing Committee on Industries, presided over by Senator Hid
Published 21 Oct, 2017 12:00am
PSM sell-off plan still intact

PSM sell-off plan still intact

The plan for privatisation of Pakistan Steel Mills is still intact and option under consideration is to give the PSM on a 30-year lease, said secretary privatisation. While briefing the Senate Standing Committee on Industries, presided over by Senator Hid
Published 21 Oct, 2017 12:00am
EU raids BMW in post-Dieselgate cartel case

EU raids BMW in post-Dieselgate cartel case

EU antitrust regulators have raided the offices of automaker BMW in Munich, the company said Friday, in a fresh blow to the beleaguered German car industry. The European Commission, which refused to name the company targeted, said it "can confirm that as
Published 21 Oct, 2017 12:00am
EU raids BMW in post-Dieselgate cartel case

EU raids BMW in post-Dieselgate cartel case

EU antitrust regulators have raided the offices of automaker BMW in Munich, the company said Friday, in a fresh blow to the beleaguered German car industry. The European Commission, which refused to name the company targeted, said it "can confirm that as
Published 21 Oct, 2017 12:00am
BOARD MEETINGS
Cotton

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 21 Oct, 2017 12:00am
EU raids BMW in post-Dieselgate cartel case

EU raids BMW in post-Dieselgate cartel case

EU antitrust regulators have raided the offices of automaker BMW in Munich, the company said Friday, in a fresh blow to the beleaguered German car industry. The European Commission, which refused to name the company targeted, said it "can confirm that as
Published 21 Oct, 2017 12:00am
RDs to reduce import bill: FBR

RDs to reduce import bill: FBR

Federal Board of Revenue (FBR) has said the purpose of recently-levied duties is to reduce the import bill, provide enabling atmosphere for competition to local manufacturers and further economic growth of the country. FBR has maintained that during the c
Published 21 Oct, 2017 12:00am
RDs to reduce import bill: FBR

RDs to reduce import bill: FBR

Federal Board of Revenue (FBR) has said the purpose of recently-levied duties is to reduce the import bill, provide enabling atmosphere for competition to local manufacturers and further economic growth of the country. FBR has maintained that during the c
Published 21 Oct, 2017 12:00am
RDs to reduce import bill: FBR

RDs to reduce import bill: FBR

Federal Board of Revenue (FBR) has said the purpose of recently-levied duties is to reduce the import bill, provide enabling atmosphere for competition to local manufacturers and further economic growth of the country. FBR has maintained that during the c
Published 21 Oct, 2017 12:00am
Revised package for textile sector notified

Revised package for textile sector notified

The Ministry of Textile Industry Friday notified revised Prime Minister''s Package of Incentives for Exporters (textile sector) under which 50 percent of the rate of drawback of local taxes and levies shall be provided without condition of increment.
Published 21 Oct, 2017 12:00am
Revised package for textile sector notified

Revised package for textile sector notified

The Ministry of Textile Industry Friday notified revised Prime Minister's Package of Incentives for Exporters (textile sector) under which 50 percent of the rate of drawback of local taxes and levies shall be provided without condition of increment.
Published 21 Oct, 2017 12:00am
Revised package for textile sector notified

Revised package for textile sector notified

The Ministry of Textile Industry Friday notified revised Prime Minister's Package of Incentives for Exporters (textile sector) under which 50 percent of the rate of drawback of local taxes and levies shall be provided without condition of increment.
Published 21 Oct, 2017 12:00am
Zardari demands arrest of Nawaz

Zardari demands arrest of Nawaz

Asif Ali Zardari, co-Chairperson of Pakistan People's Party and former President of Pakistan, has lodged a strong protest on granting to Nawaz Sharif and members of his family a "VIP-accountability". "The "godfather" is sending secret messages for reconci
Published 21 Oct, 2017 12:00am