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Print - 2018-05-17
BMP condemns shifting of FPCCI office

BMP condemns shifting of FPCCI office

Businessman Panel (BMP) has condemned the shifting of the Regional Office of the Federation of Pakistan Chamber of Commerce & Industry (FPCCI) and the appointment of a coordinator to run its affairs as the violation of rules of the apex trade body. The pr
Published 17 May, 2018 12:00am
APPMA urges Miftah to reduce taxes on imported paperboard

APPMA urges Miftah to reduce taxes on imported paperboard

Chairman of All Pakistan Paper Merchants Association (APPMA) Muhammad Saleem Bikiya has urged Federal Finance Minister Dr Miftah Ismail to reduce duty taxes on imported paperboard used in education sector for making copies, exercise books and other printe
Published 17 May, 2018 12:00am
Delimitations of constituencies: SHC seeks reply from ECP today

Delimitations of constituencies: SHC seeks reply from ECP today

Sindh High Court (SHC) on Wednesday issued notice to Election Commission of Pakistan on petition challenging the delimitations of national and provincial constituencies, which have not been done in accordance with population figures of national consensus.
Published 17 May, 2018 12:00am
Bank holiday

Bank holiday

The State Bank of Pakistan and all banks will remain closed for public dealings on 1st Ramadan-ul-Mubarak 1439 A.H., which will be observed as 'Bank Holiday'; for the purpose of deduction of Zakat.
Published 17 May, 2018 12:00am
Research culture to promote education: PU VC

Research culture to promote education: PU VC

Punjab University Vice Chancellor Professor Dr Nasira Jabeen has said that PU would play its role in promotion of research culture as it is a must for development of education sector in Pakistan. She was addressing the 9th post graduate conference organiz
Published 17 May, 2018 12:00am
As climate risks grow, Azad Kashmir boosts emergency plans

As climate risks grow, Azad Kashmir boosts emergency plans

When major floods hit Azad Kashmir in 2016, Jawad Hussain, a worker at the local government disaster agency, had to wait hours to receive updates on what kind of help was needed and where. The delays meant families were left without aid for days, he said,
Published 17 May, 2018 12:00am
Ex-KDA official arrested by NAB

Ex-KDA official arrested by NAB

NAB Karachi arrested one Saif Abbas former Director Land KDA (currently serving as Director Sports and Culture KMC), who was wanted in an investigation pertaining to illegal sale and leases of 300 plots comprising 265 acres of precious state land.
Published 17 May, 2018 12:00am
Farmers demand water emergency in Sindh

Farmers demand water emergency in Sindh

Farmers, growers, civil society, women leaders and social activists and change makers have rejected the new agriculture policy by the Sindh Government which has excluded small growers in decision making and not addressed their issues properly. The policy
Published 17 May, 2018 12:00am
Alleged money-laundering by Nawaz: NA body summons NAB chief on May 22

Alleged money-laundering by Nawaz: NA body summons NAB chief on May 22

The National Assembly Standing Committee on Law and Justice on Wednesday summoned Chairman National Accountability Bureau (NAB) former Justice Javed Iqbal on May 22 to give an explanation on initiating an inquiry into alleged money-laundering of $4.9 bill
Published 17 May, 2018 12:00am
KBRTS maintenance: SMTA board holds second meeting

KBRTS maintenance: SMTA board holds second meeting

In an effort to manage the operation and maintenance of the Karachi Bus Rapid Transit System (KBRTS), the Sindh Mass Transit Authority (SMTA) Board held its second meeting on Wednesday at the Secretariat Services General Administration & Coordination Depa
Published 17 May, 2018 12:00am
Nepalese army chief calls on Bajwa

Nepalese army chief calls on Bajwa

Nepalese Chief of Army Staff General Rajendra Chhetri on Wednesday called on Chief of Army Staff (CoAS) General Qamar Javed Bajwa at GHQ.
Published 17 May, 2018 12:00am
PM directs PML-N MNAs to ensure presence for smooth passage of budget

PM directs PML-N MNAs to ensure presence for smooth passage of budget

Annoyed with the thin attendance of lawmakers of ruling Pakistan Muslim League-Nawaz (PML-N) in the ongoing budget session of National Assembly, Prime Minister Shahid Khaqan Abbasi on Wednesday directed party members to ensure their presence during the se
Published 17 May, 2018 12:00am
Cadet College Mastung's video helps identify nine suspects

Cadet College Mastung's video helps identify nine suspects

The Balochistan High Court (BHC) on Wednesday directed Deputy Inspector General (DIG) Aitzaz Goraya to visit Cadet College Mastung to eliminate fear among students after a video of corporal punishment at the institution went viral.
Published 17 May, 2018 12:00am
State of economy

State of economy

This is apropos a Business Recorder op-ed "Worsening fiscal and external balances" carried by the newspaper yesterday. The writer, a former finance secretary, has stated inter alia, that "the poor state of fiscal finances is fully reflected in the
Published 17 May, 2018 12:00am
How Rusal escaped the noose of US sanctions

How Rusal escaped the noose of US sanctions

They were supposed to be the toughest sanctions the United States had ever imposed on a Russian oligarch. Seventeen days later, Washington watered them down.
Published 17 May, 2018 12:00am
A loose cannon supreme leader

A loose cannon supreme leader

Hell hath no fury like Nawaz Sharif ousted from power. Disqualified in a Panama Papers scandal related case and facing corruption references in a NAB accountability court, he has been hurling accusations at the judiciary and the military for his troubles
Published 17 May, 2018 12:00am
Combating the extremist mindset

Combating the extremist mindset

Talking with media persons recently about the assassination attempt on Interior Minister Ahsan Iqbal, Punjab Law Minister Rana Sanaullah called for fighting the mindset, that is giving rise to such incidents - on that, no sane person would disagree with h
Published 17 May, 2018 12:00am
Another package for exports
Currency

Another package for exports

Federal Finance Minister Miftah Ismail in his budget wind-up speech announced that a 24 billion rupee export package will be announced in the remaining two weeks of the tenure of the Abbasi-led administration. According to him, "we have decided on a new e
Published 17 May, 2018 12:00am
With friends like Trump, who needs enemies: EU chief

With friends like Trump, who needs enemies: EU chief

The European Union's top official launched a stinging attack Wednesday on President Donald Trump, slamming his "capricious assertiveness" and saying the US leader acted more like an enemy than a friend. EU president Donald Tusk urged leaders meeting in Bu
Published 17 May, 2018 12:00am
With friends like Trump, who needs enemies: EU chief

With friends like Trump, who needs enemies: EU chief

The European Union's top official launched a stinging attack Wednesday on President Donald Trump, slamming his "capricious assertiveness" and saying the US leader acted more like an enemy than a friend. EU president Donald Tusk urged leaders meeting in Bu
Published 17 May, 2018 12:00am
34 demands for grants approved by NA

34 demands for grants approved by NA

The National Assembly Wednesday approved as many as 34 demands for grants, valuing Rs 765.77 billion, for the next financial year relating to various ministries and their divisions. The opposition parties, Pakistan Tehreek-e-Insaf (PTI) and Pakistan Peopl
Published 17 May, 2018 12:00am
34 demands for grants approved by NA

34 demands for grants approved by NA

The National Assembly Wednesday approved as many as 34 demands for grants, valuing Rs 765.77 billion, for the next financial year relating to various ministries and their divisions. The opposition parties, Pakistan Tehreek-e-Insaf (PTI) and Pakistan Peopl
Published 17 May, 2018 12:00am
Sharif says will 'reveal' names of those behind PTI sit-in

Sharif says will 'reveal' names of those behind PTI sit-in

Former Prime Minister Nawaz Sharif Wednesday claimed that there were a number of big characters behind Pakistan Tehreek-e-Insaf (PTI) sit-in of 2014 and he will reveal their names at "some appropriate time". There were big characters behind the sit-ins of
Published 17 May, 2018 12:00am
Sharif says will 'reveal' names of those behind PTI sit-in

Sharif says will 'reveal' names of those behind PTI sit-in

Former Prime Minister Nawaz Sharif Wednesday claimed that there were a number of big characters behind Pakistan Tehreek-e-Insaf (PTI) sit-in of 2014 and he will reveal their names at "some appropriate time". There were big characters behind the sit-ins of
Published 17 May, 2018 12:00am
Fata bill must be adopted before May 31: PM

Fata bill must be adopted before May 31: PM

Prime Minister Shahid Khaqan Abbasi has directed that Federally Administered Tribal Areas (Fata) reform bill must be passed before the end of its term on 31 May. Abbasi issued these directives during a PML-N parliamentary party meeting that he chaired at
Published 17 May, 2018 12:00am
Fata bill must be adopted before May 31: PM

Fata bill must be adopted before May 31: PM

Prime Minister Shahid Khaqan Abbasi has directed that Federally Administered Tribal Areas (Fata) reform bill must be passed before the end of its term on 31 May. Abbasi issued these directives during a PML-N parliamentary party meeting that he chaired at
Published 17 May, 2018 12:00am
India halts military operations in IHK

India halts military operations in IHK

Indian military operations against freedom fighters in held Kashmir territory were suspended Wednesday in a rare gesture for the holy month of Ramadan. The 30-day halt is the first of its kind in Indian-held Kashmir for nearly two decades, and follows an
Published 17 May, 2018 12:00am
India halts military operations in IHK

India halts military operations in IHK

Indian military operations against freedom fighters in held Kashmir territory were suspended Wednesday in a rare gesture for the holy month of Ramadan. The 30-day halt is the first of its kind in Indian-held Kashmir for nearly two decades, and follows an
Published 17 May, 2018 12:00am
Avenfield reference: Nawaz, others to record statements tomorrow

Avenfield reference: Nawaz, others to record statements tomorrow

Former Prime Minister Nawaz Sharif, his daughter Maryam Nawaz and son-in-law Captain Muhammad Safdar (retd) will record their statements before Accountability Court in the Avenfield reference on Friday (tomorrow). During the hearing of Al-Azizia Steel Mil
Published 17 May, 2018 12:00am
Avenfield reference: Nawaz, others to record statements tomorrow

Avenfield reference: Nawaz, others to record statements tomorrow

Former Prime Minister Nawaz Sharif, his daughter Maryam Nawaz and son-in-law Captain Muhammad Safdar (retd) will record their statements before Accountability Court in the Avenfield reference on Friday (tomorrow). During the hearing of Al-Azizia Steel Mil
Published 17 May, 2018 12:00am
The Weather

The Weather

The weather report on Wednesday (May 16, 2018) and the forecast for Thursday (May 17, 2018).

Published 17 May, 2018 12:00am
Pakistan LNG seeks cargoes to meet demand for new power plants

Pakistan LNG seeks cargoes to meet demand for new power plants

Pakistan LNG Ltd, a subsidiary of state-owned Government Holdings, is seeking liquefied natural gas (LNG) cargoes after being absent from the spot market for four months, as long-delayed new power plants start to come online. Delays at three new power pla
Published 17 May, 2018 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 17 May, 2018 12:00am
Pakistan LNG seeks cargoes to meet demand for new power plants

Pakistan LNG seeks cargoes to meet demand for new power plants

Pakistan LNG Ltd, a subsidiary of state-owned Government Holdings, is seeking liquefied natural gas (LNG) cargoes after being absent from the spot market for four months, as long-delayed new power plants start to come online. Delays at three new power pla
Published 17 May, 2018 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 17 May, 2018 12:00am
Pakistan LNG seeks cargoes to meet demand for new power plants

Pakistan LNG seeks cargoes to meet demand for new power plants

Pakistan LNG Ltd, a subsidiary of state-owned Government Holdings, is seeking liquefied natural gas (LNG) cargoes after being absent from the spot market for four months, as long-delayed new power plants start to come online. Delays at three new power pla
Published 17 May, 2018 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (May 16, 2018).

Published 17 May, 2018 12:00am
Parts of Punjab, KP and AJ&K hit by major power breakdown

Parts of Punjab, KP and AJ&K hit by major power breakdown

A major electricity breakdown hit power transmission network on Wednesday morning depriving most parts of the Punjab and Khyber Pakhtunkhwa (KP) and AJ&K of electricity following a technical fault in Tarbela, Mangla, Muzaffargarh and Guddu power plants. T
Published 17 May, 2018 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (May 16, 2018)

Published 17 May, 2018 12:00am
Parts of Punjab, KP and AJ&K hit by major power breakdown

Parts of Punjab, KP and AJ&K hit by major power breakdown

A major electricity breakdown hit power transmission network on Wednesday morning depriving most parts of the Punjab and Khyber Pakhtunkhwa (KP) and AJ&K of electricity following a technical fault in Tarbela, Mangla, Muzaffargarh and Guddu power plants. T
Published 17 May, 2018 12:00am
Parts of Punjab, KP and AJ&K hit by major power breakdown

Parts of Punjab, KP and AJ&K hit by major power breakdown

A major electricity breakdown hit power transmission network on Wednesday morning depriving most parts of the Punjab and Khyber Pakhtunkhwa (KP) and AJ&K of electricity following a technical fault in Tarbela, Mangla, Muzaffargarh and Guddu power plants. T
Published 17 May, 2018 12:00am
Pakistan Mercantile Exchange - PMEX
Cotton

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (May 16, 2018).

Published 17 May, 2018 12:00am
First Ramazan today

First Ramazan today

New moon has been sighted and the holy month of Ramazan-ul-Mubarak will begin from Thursday (May 17). This announcement was made by Chairman, Central Ruet-i-Hilal Committee, Mufti Muneeb-ur-Rehman, after presiding over a long session of the committee here
Published 17 May, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 16, 2018).

Published 17 May, 2018 12:00am
First Ramazan today

First Ramazan today

New moon has been sighted and the holy month of Ramazan-ul-Mubarak will begin from Thursday (May 17). This announcement was made by Chairman, Central Ruet-i-Hilal Committee, Mufti Muneeb-ur-Rehman, after presiding over a long session of the committee here
Published 17 May, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 16, 2018).

Published 17 May, 2018 12:00am
Situation has been defused: military

Situation has been defused: military

The military will not pursue statements by Prime Minister Shahid Khaqan Abbasi and former Prime Minister Nawaz Sharif post-National Security Council (NSC) meeting held on 14 May that resulted in a press release issued by the Prime Minister's office referr
Published 17 May, 2018 12:00am
Situation has been defused: military

Situation has been defused: military

The military will not pursue statements by Prime Minister Shahid Khaqan Abbasi and former Prime Minister Nawaz Sharif post-National Security Council (NSC) meeting held on 14 May that resulted in a press release issued by the Prime Minister's office referr
Published 17 May, 2018 12:00am
Foreign currency accounts: Finance Bill Amended
Currency

Foreign currency accounts: Finance Bill Amended

The Finance Bill 2018 has empowered the federal government to make procedure for governing deposits and withdrawals from the foreign currency accounts. According to the amendments introduced in the Finance Bill 2018 through amended Bill 2018, no cash shal
Published 17 May, 2018 12:00am
THE RUPEE: rates firm
Currency

THE RUPEE: rates firm

The rupee managed to retain overnight levels against the dollar on the money market on Wednesday in the process of trading activity, dealers said. The rupee was unchanged in relation to the dollar for buying and selling Rs 115.61 and Rs 115.62 respectivel
Published 17 May, 2018 12:00am
Foreign currency accounts: Finance Bill Amended
Currency

Foreign currency accounts: Finance Bill Amended

The Finance Bill 2018 has empowered the federal government to make procedure for governing deposits and withdrawals from the foreign currency accounts. According to the amendments introduced in the Finance Bill 2018 through amended Bill 2018, no cash shal
Published 17 May, 2018 12:00am
THE RUPEE: rates firm
Currency

THE RUPEE: rates firm

The rupee managed to retain overnight levels against the dollar on the money market on Wednesday in the process of trading activity, dealers said. The rupee was unchanged in relation to the dollar for buying and selling Rs 115.61 and Rs 115.62 respectivel
Published 17 May, 2018 12:00am
Foreign currency accounts: Finance Bill Amended
Currency

Foreign currency accounts: Finance Bill Amended

The Finance Bill 2018 has empowered the federal government to make procedure for governing deposits and withdrawals from the foreign currency accounts. According to the amendments introduced in the Finance Bill 2018 through amended Bill 2018, no cash shal
Published 17 May, 2018 12:00am
Foreign currency accounts: Finance Bill Amended
Currency

Foreign currency accounts: Finance Bill Amended

The Finance Bill 2018 has empowered the federal government to make procedure for governing deposits and withdrawals from the foreign currency accounts. According to the amendments introduced in the Finance Bill 2018 through amended Bill 2018, no cash shal
Published 17 May, 2018 12:00am
Iran asks Chinese oil buyers to maintain imports after US sanctions

Iran asks Chinese oil buyers to maintain imports after US sanctions

A senior official at Iran''s state-owned oil supplier met Chinese buyers this week to ask them to maintain imports after U.S. sanctions kick in, three people familiar with the matter said, but failed to secure guarantees from the world''s biggest consumer
Published 17 May, 2018 12:00am
Iran asks Chinese oil buyers to maintain imports after US sanctions

Iran asks Chinese oil buyers to maintain imports after US sanctions

A senior official at Iran's state-owned oil supplier met Chinese buyers this week to ask them to maintain imports after U.S. sanctions kick in, three people familiar with the matter said, but failed to secure guarantees from the world's biggest consumer o
Published 17 May, 2018 12:00am
Iran asks Chinese oil buyers to maintain imports after US sanctions

Iran asks Chinese oil buyers to maintain imports after US sanctions

A senior official at Iran's state-owned oil supplier met Chinese buyers this week to ask them to maintain imports after U.S. sanctions kick in, three people familiar with the matter said, but failed to secure guarantees from the world's biggest consumer o
Published 17 May, 2018 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (May 16, 2018).

Published 17 May, 2018 12:00am
Iran, Venezuela weighing on oil market: IEA

Iran, Venezuela weighing on oil market: IEA

Global oil supplies could be hit by the decision by the US to pull out of the Iran nuclear deal, and also by falling production in crisis-hit Venezuela, the IEA said on Wednesday. The decision by US President Donald Trump to withdraw from the Iran deal "h
Published 17 May, 2018 12:00am
Iran, Venezuela weighing on oil market: IEA

Iran, Venezuela weighing on oil market: IEA

Global oil supplies could be hit by the decision by the US to pull out of the Iran nuclear deal, and also by falling production in crisis-hit Venezuela, the IEA said on Wednesday. The decision by US President Donald Trump to withdraw from the Iran deal "h
Published 17 May, 2018 12:00am
Iran, Venezuela weighing on oil market: IEA

Iran, Venezuela weighing on oil market: IEA

Global oil supplies could be hit by the decision by the US to pull out of the Iran nuclear deal, and also by falling production in crisis-hit Venezuela, the IEA said on Wednesday. The decision by US President Donald Trump to withdraw from the Iran deal "h
Published 17 May, 2018 12:00am
Export growth: Pakistan joins club of top achievers: Dagha
Currency

Export growth: Pakistan joins club of top achievers: Dagha

Commerce Secretary Younus Dagha Wednesday said Pakistan has entered into the club of countries which are achieving high growth in exports. He made this claim at the first meeting of the reconstituted Senate Standing Committee on Commerce and Textile heade
Published 17 May, 2018 12:00am
Export growth: Pakistan joins club of top achievers: Dagha
Currency

Export growth: Pakistan joins club of top achievers: Dagha

Commerce Secretary Younus Dagha Wednesday said Pakistan has entered into the club of countries which are achieving high growth in exports. He made this claim at the first meeting of the reconstituted Senate Standing Committee on Commerce and Textile heade
Published 17 May, 2018 12:00am
Export growth: Pakistan joins club of top achievers: Dagha
Currency

Export growth: Pakistan joins club of top achievers: Dagha

Commerce Secretary Younus Dagha Wednesday said Pakistan has entered into the club of countries which are achieving high growth in exports. He made this claim at the first meeting of the reconstituted Senate Standing Committee on Commerce and Textile heade
Published 17 May, 2018 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 17 May, 2018 12:00am
Exports to increase 20 percent in two months: Miftah

Exports to increase 20 percent in two months: Miftah

Finance Minister Dr Miftah Ismail Wednesday claimed that exports of the country would grow up to 20 percent in two months (May and June). Winding up the debate on cut motions pertaining to his ministry in the National Assembly, the minister said, "The pre
Published 17 May, 2018 12:00am
Exports to increase 20 percent in two months: Miftah

Exports to increase 20 percent in two months: Miftah

Finance Minister Dr Miftah Ismail Wednesday claimed that exports of the country would grow up to 20 percent in two months (May and June). Winding up the debate on cut motions pertaining to his ministry in the National Assembly, the minister said, "The pre
Published 17 May, 2018 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Pakistan Stock Exchange.

Published 17 May, 2018 12:00am
Exports to increase 20 percent in two months: Miftah

Exports to increase 20 percent in two months: Miftah

Finance Minister Dr Miftah Ismail Wednesday claimed that exports of the country would grow up to 20 percent in two months (May and June). Winding up the debate on cut motions pertaining to his ministry in the National Assembly, the minister said, "The pre
Published 17 May, 2018 12:00am
Countervailing duties on PET imports: WTO body rules against EU

Countervailing duties on PET imports: WTO body rules against EU

In a key decision, the highest trade adjudicatory body at World Trade Organisation (WTO), has ruled against European Union''s (EU) countervailing duties imposed on import polyethylene terephthalate (PET) from Pakistan. The European Union had imposed cripp
Published 17 May, 2018 12:00am
Countervailing duties on PET imports: WTO body rules against EU

Countervailing duties on PET imports: WTO body rules against EU

In a key decision, the highest trade adjudicatory body at World Trade Organisation (WTO), has ruled against European Union's (EU) countervailing duties imposed on import polyethylene terephthalate (PET) from Pakistan. The European Union had imposed crippl
Published 17 May, 2018 12:00am
Countervailing duties on PET imports: WTO body rules against EU

Countervailing duties on PET imports: WTO body rules against EU

In a key decision, the highest trade adjudicatory body at World Trade Organisation (WTO), has ruled against European Union's (EU) countervailing duties imposed on import polyethylene terephthalate (PET) from Pakistan. The European Union had imposed crippl
Published 17 May, 2018 12:00am
BRIndex100 remains jittery

BRIndex100 remains jittery

Pakistan Stock Exchange Wednesday remained under pressure due to selling from local and foreign investors. BRIndex100 lost 23.13 points or 0.51 percent to close at 4,513.60 points. BRIndex100 touched intraday high of 4,547.89 and intraday low of 4,507.06
Published 17 May, 2018 12:00am
BRIndex100 remains jittery

BRIndex100 remains jittery

Pakistan Stock Exchange Wednesday remained under pressure due to selling from local and foreign investors. BRIndex100 lost 23.13 points or 0.51 percent to close at 4,513.60 points. BRIndex100 touched intraday high of 4,547.89 and intraday low of 4,507.06
Published 17 May, 2018 12:00am
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