News Archives for Print - 2020-03-18

Print - 2020-03-18

COVID-19: PCAA bans entry of passengers without test result copy

Pakistan Civil Aviation Authority (PCAA) has decided to ban the entry of all international passengers without a copy of test result for COVID-19 from March 21, 2020.

Published 18 Mar, 2020 12:00am

PM asks rich economies to write-off poor states' debts

Prime Minister Imran Khan has warned richer countries to prepare to write off the debts of the world's poorer states, expressing fear the coronavirus could devastate the economies of developing nations.

Published 18 Mar, 2020 12:00am

Sindh decides to close malls, restaurants, government offices

In a move to contain the spread of the novel coronavirus, shopping malls, restaurants, public parks and electronics markets will remain closed all over Sindh from Wednesday (March 18) for the next 15 days. However, grocery shops, milk shops, fish, chicken

Published 18 Mar, 2020 12:00am

GDP growth revised downward to 3 percent

In light of recent domestic and global developments, the State Bank of Pakistan (SBP) has revised the real GDP growth projection downward side. Going forward, SBP is also expecting that the government could face challenges in achieving revenue targets for

Published 18 Mar, 2020 12:00am

Moody's scales down growth to 2.5 percent

Moody's Investors Service has revised downward the Gross Domestic Product (GDP) forecast for Pakistan from 2.9 percent to 2.5 percent, ie, by 0.4 percent for 2020. Moody's has revised its forecasts for most APAC economies on coronavirus implications, inco

Published 18 Mar, 2020 12:00am

Coronavirus challenge: SBP responds prudently

State Bank of Pakistan has cut the key policy rate by 75 basis points and announced two special financing schemes to address the economic and health challenges posed by the spread of coronavirus (COVID-19).

Published 18 Mar, 2020 12:00am

Stocks

Virus fears keep PSX in check: BRIndex100 hammered

A declining trend continued on Pakistan Stock Exchange due to panic selling on investor concerns over deadly coronavirus spread. BRIndex100 lost 117.28 points or 3.4 percent to close at 3,331.85 points on Tuesday. BRIndex100 touched intraday high of 3,471

Published 18 Mar, 2020 12:00am

UK unveils $400 billion lifeline for firms

Britain said it would launch a 330 billion-pound ($399 billion) lifeline of loan guarantees and provide other help to business facing the risk of collapse as it ramped up its attempt to fight the economic hit from coronavirus.

Published 18 Mar, 2020 12:00am

Fed announces credit facility to help businesses, households

The US Federal Reserve on Tuesday unveiled a new credit facility to help households and business stay afloat as the coronavirus pandemic threatens to undermine the world's largest economy.

Published 18 Mar, 2020 12:00am

FBR seeks technical supplementary grant of Rs 4.152 billion

Federal Board of Revenue (FBR) has sought technical supplementary grant of Rs 4.152 billion to meet expenditures of head office and field formations, well informed sources told Business Recorder.

Published 18 Mar, 2020 12:00am

Pakistan, China sign two MoUs, 4 LoEs

President Dr Arif Alvi and President Xi Jinping witnessed the signing of two Memorandums of Understanding and four Letters of Exchange at a ceremony held at the Great Hall of the People, said a press release issued on Tuesday. The documents were signed at

Published 18 Mar, 2020 12:00am

Kashmir issue: China reiterates its stance

China Tuesday reiterated that the Kashmir issue was a dispute left from history, and should be properly and peacefully resolved based on the UN Security council resolutions and bilateral agreement.

Published 18 Mar, 2020 12:00am

Address to nation: PM issues stern warning to hoarders

Prime Minister Imran Khan on Tuesday urged the nation not to panic from the spread of coronavirus and cooperate with the government to fight the pandemic by taking preventive measures. In a televised address after reported cases of coronavirus grew rapidl

Published 18 Mar, 2020 12:00am

ECC likely to allow import of sugar

The Economic Coordination Committee (ECC) of the Cabinet on Wednesday (today) is likely to allow import of 0.3 million tons of sugar through private sector sans taxes and duties besides imposing a ban on the remaining quota of sugar export. This proposal

Published 18 Mar, 2020 12:00am

February exports up by 8.19 percent

The country's exports in February 2020 as against January 2020 have registered an increase of 8.19 percent, up from $1.98 billion to $2.14 billion, the Pakistan Bureau of Statistics (PBS) said. According to the PBS's data on monthly advance releases on fo

Published 18 Mar, 2020 12:00am

Budget strategy paper approved by cabinet

The Special Assistant to the Prime Minister on Information and Broadcasting, Dr Firdous Ashiq Awan, on Tuesday said that the cabinet had approved budget strategy paper for the financial year 2020.

Published 18 Mar, 2020 12:00am

E-deposit, e-filing: SRB extends deadline for February

Sindh Revenue Board (SRB) has extended the date for e-deposit and e-filing of tax return for the tax period of February 2020. According to the notification, SRB has permitted the registered persons including withholding agents covered by the provisions of

Published 18 Mar, 2020 12:00am

APTMA urges government to announce relief for industry

The All Pakistan Textile Mills Association has appealed to Prime Minister Imran Khan and Advisor to Prime Minister on Commerce, Textiles and Industry Abdul Razak Dawood to announce immediate relief for the industry as shipments to Europe and the USA are b

Published 18 Mar, 2020 12:00am

Performance of KP police reviewed

The Inspector General of Police (IGP), Khyber Pakhtunkhwa Sanaullah Abbasi chaired a coordination meeting held here Tuesday to review performances and mutual relations of departments included in action plan of Financial Action Task Force (FATF).

Published 18 Mar, 2020 12:00am

Coronavirus pandemic 'could kill millions' in Iran: official

Iran has temporarily freed about 85,000 people from jail, including political prisoners, in response to the coronavirus epidemic, a judiciary spokesman said on Tuesday. Iran has reported 16,169 coronavirus cases and 988 deaths from the virus in one of the

Published 18 Mar, 2020 12:00am

SC grants bail to Khwaja brothers

The Khwaja Brothers - Khwaja Saad Rafique and Khwaja Salman Rafique - are finally out as the Supreme Court on Tuesday granted them bail in a graft reference filed by the top anti-graft body. The apex court approved the bails of the Khwaja brothers against

Published 18 Mar, 2020 12:00am

Coronavirus: Ulema spell out dos and don'ts

There must be no Urdu speeches in Friday prayers while Arabic sermons are restricted to the minimum, said a religious decree issued here by 'Dar-ul-Afta' of Pakistan Ulema Council (PUC), Wafaq-ul-Madaris Pakistan and Ulema of various school of thoughts in

Published 18 Mar, 2020 12:00am

Body for license of track & trace system: FBR gets powers to include any 'authority' as member

The Federal Board of Revenue (FBR) has obtained powers to include any "authority" like the Public Procurement Regulatory Authority as member of the licensing committee for grant of license of track and trace system for monitoring of excisable commodities

Published 18 Mar, 2020 12:00am

Cargoes from China: clarification

There has been some incomplete or wrong information about two fertilizer-laden ships arriving here from China, importers said. Fertilizers are imported every year on a regular basis since local production is not enough to meet local demand. MV. "Amber L"

Published 18 Mar, 2020 12:00am

Letters

'Fighting Covid-19 together'

This is apropos a Business Recorder editorial "Fighting Covid-19 together" carried by the newspaper yesterday. Through this letter I want to congratulate special assistant to prime minister Dr Zafar Mirza for telling India's prime minister Narendra

Published 18 Mar, 2020 12:00am

Articles

Virus-hit Gulf has little room to boost revenue after oil price shock

The coronavirus outbreak and plunging crude prices are a double blow that leaves Gulf Arab governments with few options to manage fiscal stability while trying to shield their economies and defend currency pegs.

Published 18 Mar, 2020 12:00am

Articles

Need for new income tax law - II

Administrative reforms The administration of a tax system is highly complex. No doubt, a proper bureaucratic input is vital for making the system successful, but it is equally necessary to take all the stakeholders on board and laws are made and

Published 18 Mar, 2020 12:00am

Articles

Cost of illicit cigarette trade

According to a UN 'doom's day scenario' the global economy faces a 'US$ 2 trillion' hit in view of the devastation being caused by the novel coronavirus pandemic. But even this figure is only tentative. Seemingly almost the entire world is gradually movin

Published 18 Mar, 2020 12:00am

The PSX trauma

Haemorrhaging equity markets seems the new norm across the world, at least in the immediate term, as there's still no telling how much worse the coronavirus pandemic can get or just how long will it last. That, of course, has left investors as well as eco

Updated 18 Mar, 2020 09:06am

Covid-19: economic fallout

Advisor to the Prime Minister on Finance Dr Hafeez Sheikh has stated that Prime Minister Imran Khan entrusted him with the responsibility of dealing with the economic fallout of the coronavirus. He further added that significant concessions in terms of re

Updated 18 Mar, 2020 09:08am

'No death from COVID-19 in KP'

Adviser to Khyber Pakhtunkhwa Chief Minister on Information, Ajmal Khan Wazir, on Tuesday categorically said there is no death from coronavirus in the province till date. Addressing a press conference here, he refuted the reports of death of a patient due

Published 18 Mar, 2020 12:00am

NAB challenges Siraj Durrani's bail

The National Accountability Bureau (NAB) on Tuesday challenged Sindh Provincial Assembly Speaker Agha Siraj Durrani's bail granted by the Sindh High Court (SHC) in the Supreme Court.

Published 18 Mar, 2020 12:00am

Islamia College Peshawar: SC to review admission quota system is correct or not

The Supreme Court on Tuesday said that the court would review whether admission quota system at prestigious Islamia College University in Peshawar is correct or not.

Published 18 Mar, 2020 12:00am

PML-N calls for comprehensive strategy to fight COVID-19 forthwith

As cases of coronavirus are increasing in the country sharply, the Pakistan Muslim League-Nawaz (PML-N) on Tuesday expressed lack of confidence in the PTI government measures to prevent spread of the virus and called for devising a comprehensive national

Published 18 Mar, 2020 12:00am

Coronavirus threat: Government decides to postpone O and A level exams of Cambridge

The government has decided to postpone O and A level examinations of Cambridge due in May and June on account of coronavirus outbreak in the country.

Published 18 Mar, 2020 12:00am

SC tells AGs to furnish details of collections at shrines

The Supreme Court Tuesday issued notices to the Advocate Generals of all the four provinces and Islamabad, to inform how much was collected as "nazrana (offerings)" at various shrines, and where it was being spent. A three-judge bench, headed by Chief Jus

Published 18 Mar, 2020 12:00am

Nadra asked to close registration centres of Kafaalat programme

In the backdrop of the outbreak of coronavirus in Pakistan, Special Assistant to the Prime Minister on Social Protection and Poverty Alleviation Dr Sania Nishtar has asked the National Database and Registration Authority (Nadra) to close the Kafaalat regi

Published 18 Mar, 2020 12:00am

Government officials, lawmakers seek 'divine intervention' against coronavirus

With the deadly pandemic coronavirus unleashing devastation across the globe, the lawmakers and senior government functionaries on Tuesday collectively prayed seeking the "divine intervention of Almighty Allah to stop the spread of coronavirus and grant s

Published 18 Mar, 2020 12:00am

Punjab records 18 new cases; tally rises to 26

While reports of corona tests are pouring in, the number of total confirmed corona cases has risen to 26 as 18 more people have been tested positive in Punjab till the filing of this report.

Published 18 Mar, 2020 12:00am

Coronavirus outbreak: Punjab to bear major burden: minister

Chief Minister Punjab Sardar Usman Buzdar Tuesday confirmed that there are eight positive cases of coronavirus so far and they are being provided best available medical treatment facilities.

Published 18 Mar, 2020 12:00am

APNS AGC meeting on March 31

The Annual General Council (AGC) Meeting of the APNS will be held on March 31, 2020 at Karachi. Sarmad Ali, Secretary General of the All Pakistan Newspapers Society has announced that the Executive Committee at its emergency meeting held on March 17, 2020

Published 18 Mar, 2020 12:00am

Business & Economy

Lower crude drives down petrochemical prices

The petrochemical chain pricing largely followed the direction of crude oil prices during the week tapering down over 10 percent across varied feedstock, analysts said. Resultantly, PolyVinyl Chloride (PVC) and Polyester Staple Fibre (PSF) margins leapt h

Published 18 Mar, 2020 12:00am

Border quarantine errors spark concern

Government said its confirmed COVID-19 cases had more than doubled on Tuesday for a second straight day, largely due to errors made in the testing and quarantine of travellers who recently returned from Iran via a land border crossing.

Published 18 Mar, 2020 12:00am

Bilawal suspends political activities

Pakistan People's Party (PPP) Chairperson Bilawal Bhutto-Zardari has suspended and postponed all unnecessary political activities, including the annual gathering on April 4, to pay tribute to Zulfiqar Ali Bhutto; halting all mobilization activities in thi

Published 18 Mar, 2020 12:00am

Gold up by Rs 500 per tola

Gold on Tuesday was traded for Rs 89500 per tola, up by Rs 500 on the local market, traders said. The yellow metal was available for Rs 76732 per 10 grams, up by Rs 429 and $1473 an ounce, up by $3 on the world market.

Published 18 Mar, 2020 12:00am

Profiteers, hoarders warned of stern action

The Deputy Commissioner Hyderabad Aisha Abro while holding a meeting with representatives of businessmen and wholesalers of surgical and food items at her office warned them to sell surgical masks, sanitizers and other essential commodities on government

Published 18 Mar, 2020 12:00am

No accused be admitted without screening of virus test: SHC asks IGP prison

Chief Justice of Sindh High Court on Tuesday directed Inspector General Prison, Sindh that any accused remanded on judicial custody should not be admitted without proper screening/test of Coronavirus.

Published 18 Mar, 2020 12:00am

Energy

COVID-19: KE gears up efforts to facilitate customers

K-Electric is committed to ensuring seamless customer support in the midst of the COVID-19 outbreak, whilst taking all necessary precautions and safety measures. The power utility is working according to stipulated World Health Organization (WHO) guidelin

Published 18 Mar, 2020 12:00am

Business & Economy

PIEDMC to implement preventive measures in factories

To deal with the situation arising out of the Coronavirus pandemic, the Punjab Industrial Estates Development and Management Company (PIEDMC) has resolved to launch a campaign to implement preventive measures in all the factories operating in different in

Published 18 Mar, 2020 12:00am

PSP chief rejects move to create more districts in Karachi

Pak Sarzameen Party (PSP) Chairman Syed Mustafa Kamal on Tuesday rejected Sindh government's "move to create more districts on ethnic grounds".

Published 18 Mar, 2020 12:00am

Cotton & Textile

PM urged to announce relief package for leather sector

The Chairman of Pakistan Tanners Association, Sheikh Afzal Hussain, has urged Prime Minister Imran Khan to announce a special relief package for the leather sector so that this vital industry of the country could be equipped with all the tools required to

Published 18 Mar, 2020 12:00am

Train crushes five to death in Sukkur

Five people including women and children were crushed to death when a train hit the rickshaw near Rohri, Sukkur on Tuesday. The incident took place near Pyarwah, when the rickshaw was crossing the railway phattak. The rescue sources said two women and two

Published 18 Mar, 2020 12:00am

'Good chance' of Sha'aban moon sighting on March 25'

Pakistan Meteorological Department (PMD) has said that there is good chance of sighting the new moon of Shaban 1441 AH on the evening of 25 March.

Published 18 Mar, 2020 12:00am

Business & Economy

Panic buying witnessed in Karachi

Buying panic witnessed at grocery stores and retail outlets across the city in the backdrop of reported closure of markets due to sharp increases in the number of Covid-19 cases in the province. The fear has gripped citizens following rumors about the pos

Published 18 Mar, 2020 12:00am

Sepoy martyred in Indian unprovoked firing

A sepoy of Pakistan Army on Tuesday embraced martyrdom (shahadat) in a response to unprovoked firing of Indian forces. Indian Army troops had resorted to unprovoked fire in Shahkot Sector along the Line of Control (LoC) with heavy weapons, an Inter Servic

Published 18 Mar, 2020 12:00am

Taxes

IREN Hyderabad launches drive against illicit cigarettes

Major enforcement actions have been carried out by the Inland Revenue Enforcement Network (IREN) Hyderabad, and Regional Tax Office (RTO) Peshawar, against non-duty paid cigarettes, preventing huge loss of revenue. The IREN Hyderabad on Tuesday launched a

Published 18 Mar, 2020 12:00am

Business & Economy

SCCI flays frequent power outages in Peshawar

The Sarhad Chamber of Commerce and Industry (SCCI) has expressed resentment over excessive electricity loadshedding in the Small Industrial Estate, Kohat Road, Peshawar. The issue was raised during a meeting with a delegation of Small Industrial Estate wh

Published 18 Mar, 2020 12:00am

Coronavirus threat: AJK government imposes three-week ban on tourists

Azad Jammu and Kashmir Cabinet on Tuesday imposed ban on arrival of tourists in to Azad Jammu Kashmir (AJK) for a period of three weeks as a precautionary measure to deal with the increasing threat of coronavirus pandemic in the region.

Published 18 Mar, 2020 12:00am

UNHCR suspends Afghan refugees' repatriation

The United Nations High Commissioner for Refugees (UNHCR) said on Tuesday that it has suspended voluntary repatriation of Afghan refugees from Pakistan after the country temporarily closed border with Afghanistan over COVID-19.

Published 18 Mar, 2020 12:00am

Walk-in consular services suspended in MoFA

The Ministry of Foreign Affairs has decided to suspend all walk-in consular services except the attestation of power of attorney in order to take necessary precautions to deal with the rising threat of COVID-19.

Published 18 Mar, 2020 12:00am

KP top business leaders join hands for joint struggle

The top leaders of the business community at national level from Khyber Pakhtunkhwa have joined hands for waging a joint struggle for promotion of business activities and resolution of the problems faced by the community in the province.

Published 18 Mar, 2020 12:00am

Face masks worth Rs 20 million seized in Islamabad

The Islamabad Capital Territory (ICT) administration seized face masks worth Rs 20 million in a raid in Sector F-6. Additional Deputy Commissioner Umer Randhawa during a raid at a house in the sector -6 recovered over 50,000 masks and also arrested four C

Published 18 Mar, 2020 12:00am

'WMS' installed to curtail grey trafficking, SC told

The Supreme Court was informed Tuesday that Web Monitoring System (WMS) had been installed in March 2020 to curtail grey telecommunication traffic. A three-judge bench, headed by Justice Umar Ata Bandial, heard a suo motu notice of operation/running of il

Published 18 Mar, 2020 12:00am

Energy

Allowable UFG benchmarks: Consultation process for cut initiated

The Petroleum Division has initiated a process of consultation to consider reduction in allowable UFG benchmarks along with reduction in return on assets and rationalization of transmission and distribution costs to create some fiscal space for the compan

Published 18 Mar, 2020 12:00am

BRT Peshawar: Bar on holding probe by FIA will continue: SC

The top court of the country on Tuesday said that the bar on holding probe into alleged embezzlement in Peshawar Bus Rapid Transit (BRT) project by the Federal Investigation Agency (FIA) will continue till the court takes up the case after a month.

Published 18 Mar, 2020 12:00am

IT & Computers

Snags in IP whitelisting process identified: ISPAK accuses PTA of protecting certain interests

The Internet Service Providers Association of Pakistan (ISPAK), while identifying bottlenecks in the IP whitelisting process has accused the Pakistan Telecommunication Authority (PTA) of protecting certain interests and requested suspension of the process

Published 18 Mar, 2020 12:00am

1,200 kg of polythene bags seized

Crackdown on polythene plastic shopping bags by the district administration of Peshawar is being continued as 1,200 kilograms of plastic bags were seized in different localities.

Published 18 Mar, 2020 12:00am

Energy

Work on Matiari-Lahore transmission line in full swing

The construction work on 660kV High Voltage Direct Current (HVDC) Matiari-Lahore transmission line under China Pakistan Economic Corridor (CPEC) project is at full swing and overall 86 percent work has been completed.

Published 18 Mar, 2020 12:00am

Expired medicines entry into Pakistan foiled amid coronavirus crisis

Amid the efforts being taken to avert the spread of coronavirus, Pakistan is being used as 'dumping ground' for banned medical instruments and expired medicines by developed world under the guise of medical aid; it is learnt here.

Updated 18 Mar, 2020 09:02am

Business & Economy

Body to review impact of virus on economy formed in Punjab

The Punjab government has constituted a special committee under the supervision of Punjab Finance Minister Hashim Jawan Bakhat to review the effects of coronavirus on economy.

Published 18 Mar, 2020 12:00am

President meets NPC standing body chief

President Dr Arif Alvi held meeting with Chairman of the National People's Congress (NPC) Standing Committee, Li Zhanshu, at Great Hall of the People here on Tuesday. During the meeting, the President expressed solidarity with the Chinese government and p

Published 18 Mar, 2020 12:00am

Business & Economy

ICMAP, ACCA enter into strategic partnership

Institute of Cost Management Accountants of Pakistan (ICMA Pakistan) and ACCA (the Association of Chartered Certified Accountants) have entered a strategic partnership agreement focusing on greater collaboration between both the accounting bodies and crea

Published 18 Mar, 2020 12:00am

Sherry questions lack of leadership at federal level

Pakistan People's Party (PPP) Parliamentary Leader in Senate, Senator Sherry Rehman said, "As the country goes through an unprecedented crisis in the shape of a global pandemic, it has become clear that there is an unfortunate and worrying leadership defi

Published 18 Mar, 2020 12:00am

LHC's directive to NAB

The Lahore High Court on Tuesday directed the National Accountability Bureau (NAB) not to harass petitioner Shaukat Basra a leader of Pakistan Tehreek-i-Insaf while holding an inquiry against him. The court also directed a NAB prosecutor to submit reply t

Published 18 Mar, 2020 12:00am

Armed forces ready to meet any eventuality: ISPR

The Inter-Services Public Relations (ISPR) has announced that all medical facilities of the armed forces have been operationalised and are geared up to meet any eventuality to deal with the coronavirus pandemic. The announcement came as part of the nation

Published 18 Mar, 2020 12:00am

CCP says sugar crisis could have been averted if its suggestions implemented

The government could have avoided the recent sugar crisis if it had implemented in time some of the recommendations framed by the Competition Commission of Pakistan (CCP) in its opinion issued to the federal and provincial governments in April 2018.

Published 18 Mar, 2020 12:00am

Drip irrigation and tunnel farming: ABL holds awareness session

An awareness Session on 'Drip Irrigation and Tunnel Farming' was organized recently at Pishin, in accordance with ABL's CSR strategy to support sustainable development avenues for the farmers and agriculturists in Balochistan Province. The session was att

Published 18 Mar, 2020 12:00am

Cotton & Textile

Leather sector's share in exports falls by 45 percent, says ex-PTA chief

Coronavirus pandemic has left a severe impact on the Pakistan's leather sector that lost around 45 percent share in the exports of raw and finished leather as most of the importers either held or canceled their orders.

Published 18 Mar, 2020 12:00am

Taxes

Spread of coronavirus: RTO sees a drop in revenue from imports by 25 percent

The Regional Tax Office (RTO) has witnessed a drop in revenue generation from imports by 25 percent due to the spread of coronavirus worldwide, said sources.

Published 18 Mar, 2020 12:00am

Money & Banking

JS Bank adopts steps to fight coronavirus

In an unprecedented move, JS Bank became the first Bank in Pakistan to waive all transactional fees on ATM, Internet & Mobile Banking till 30th April 2020. Customers can now bank when and where they want as per their convenience without having to move aro

Published 18 Mar, 2020 12:00am

COVID-19: Lawyers to appear only in urgent nature cases till April 5

Representatives of the bars has announced that lawyers will appear before the courts only in urgent nature cases initially till April 5 as a precautionary measure against coronavirus.

Published 18 Mar, 2020 12:00am

Cotton & Textile

COVID-19: PTEA chief concerned at virus's impact on economy

Textile industry is highly perturbed over adverse impacts of COVID-19 outbreak as foreign buyers have started cancellation and deferral of export orders. The situation is leading towards massive de-industrialization, significant fall in exports and unmana

Published 18 Mar, 2020 12:00am

IPR issues fact-sheet on US-Afghan peace deal

The Institute for Policy Reforms on Tuesday issued a Fact Sheet titled "The US-Afghan Deal" which analyzes the likelihood of success of the recently concluded US-Afghan peace deal, especially in the context of the many new and enduring challenges faced by

Published 18 Mar, 2020 12:00am

Business & Economy

Coronavirus threat in Lahore: Business activities restricted to purchase of daily-use items

After growing number of coronavirus cases in Punjab, the business activity has restricted to purchase of essential daily-use items in the provincial capital.

Published 18 Mar, 2020 12:00am

N-Leaguers join PML-Q ahead of LG polls

N-League ticket holder from NA-68 Ch Tanvir Ahmad Gondal, who contested election twice against Ch Wajahat Hussain and ticket holder of the Punjab Assembly Ch Bashir Ahmad Gondal called on Speaker Punjab Assembly Ch Parvez Elahi and MNA Hussein Elahi at th

Published 18 Mar, 2020 12:00am

Articles

Partly Facetious: 'Hot' money is going out in any case

"What does a country where demand contraction is the strategy do when demand begins to contract in any case due to the Coronavirus."

Published 18 Mar, 2020 12:00am

Business & Economy

Pakistan's progress linked to CPEC: Qureshi

Foreign Minister Shah Mahmood Qureshi said the leadership of Pakistan and China are committed to materialize the China-Pakistan Economic Corridor projects.

Published 18 Mar, 2020 12:00am

IHC turns down plea seeking disqualification of MNA Ali Wazir

The Islamabad High Court (IHC) on Tuesday turned down a petition seeking disqualification of Member National Assembly (MNA) Ali Wazir. A single bench of IHC Chief Justice Athar Minallah heard the petition and dismissed the same after preliminary hearing b

Published 18 Mar, 2020 12:00am

Brief Recordings

Nimir Resins Limited

Nimir Resins Limited (PSX: NRSL) was established in 1964 as a private limited company under the Companies Act, 1913 (now Companies Act, 2017). It was converted into a public limited company in 1991.

Updated 18 Mar, 2020 04:01am

New Zealand unveils huge stimulus package to ease pandemic shock

New Zealand unveiled a NZ$12.1 billion (US$7.3 billion) stimulus package Tuesday as Prime Minister Jacinda Ardern raided the nation's "rainy day" fund to soften the economic hit from the coronavirus pandemic.

Published 18 Mar, 2020 12:00am

Moroccan journalist sentenced to jail over tweet

Moroccan journalist and human rights activist Omar Radi said Tuesday he had been handed a four-month suspended sentence for criticising a judge in a tweet. A court in the Casablanca district of Ain Sebaa also ordered Radi to pay a fine of 500 dirhams ($52

Published 18 Mar, 2020 12:00am

Egypt revokes British journalist's credentials over virus report

Egypt revoked the press credentials of a journalist for The Guardian and censured The New York Times Cairo bureau chief on Tuesday over "bad faith" reporting on the country's coronavirus cases. "The correspondents' rush to promote incorrect data does not

Published 18 Mar, 2020 12:00am

Virus-hit US pushes ahead with presidential primaries

Voters in Florida, Illinois and Arizona cast ballots in Democratic primaries Tuesday in the face of a rapidly spreading coronavirus pandemic that has cast a pall over the US presidential nomination race between Joe Biden and Bernie Sanders.

Published 18 Mar, 2020 12:00am

IT & Computers

Facebook offers $100 million to small businesses in 30 countries

Facebook said Tuesday it was offering $100 million to help small businesses in 30 countries cope with the economic impacts of the coronavirus pandemic. The social networking giant said it will be giving cash grants and ad credits to as many as 30,000 ente

Published 18 Mar, 2020 12:00am

Europe locks down as WHO calls for 'boldest actions' against pandemic

European countries moved into near total lockdown on Tuesday in a bid to halt the rapid spread of the deadly coronavirus. The World Health Organization called for the "boldest actions" against the pandemic on the continent, the outbreak's new epicentre.

Published 18 Mar, 2020 12:00am

Putin says Russia virus situation 'under control'

President Vladimir Putin on Tuesday said the coronavirus situation was "under control" in Russia and outbreaks of infection had been contained. Russia reported 114 cases of coronavirus, up from 93 on Monday, with no fatalities.

Published 18 Mar, 2020 12:00am

Manchester bomber's brother convicted over the attack

The brother of a suicide bomber who killed 22 people in the British city of Manchester was found guilty on Tuesday of 22 counts of murder over the 2017 attack. Hashem Abedi was also convicted of one count of attempted murder and conspiring with his brothe

Published 18 Mar, 2020 12:00am

UK-Iranian woman temporarily freed from Tehran jail

A British-Iranian woman serving a five-year prison term in Tehran for sedition was released from jail for two weeks on Tuesday, her husband said. "The Free Nazanin Campaign is pleased to confirm - as has long been promised - that Nazanin (Zaghari-Ratcliff

Published 18 Mar, 2020 12:00am

Iraq names new PM

Iraq's president on Tuesday named pro-Western lawmaker Adnan Zurfi, a former Najaf city governor, as the next prime minister, tasked with ruling a country hit by military unrest, street protests and the coronavirus outbreak.

Published 18 Mar, 2020 12:00am

Erdogan discusses migrant crisis, Syria with Macron, Merkel and Johnson

Turkish President Recep Tayyip Erdogan on Tuesday discussed the migrant crisis and the situation in Syria's rebel enclave of Idlib, with the leaders of France, Germany and Britain. The four-party video conference that involved French President Emmanuel Ma

Published 18 Mar, 2020 12:00am

Previous Day

Forex
World
Commodity

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

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

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

Gainers
Losers
Leaders

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

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

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

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