News Archives for Print - 2020-04-19

Print - 2020-04-19

Government will soon be able to overcome Covid-19: Buzdar

Chief Minister Sardar Usman Buzdar said on Saturday the Punjab government has taken effective measures to prevent the people from coronavirus and we are confident that the government will soon be able to overcome this disease. In a letter written to provi

Published 19 Apr, 2020 12:00am

PIA to bring back around 6,000 stranded Pakistanis from today

Pakistan has suspended its flight operations till April 30th, the Civil Aviation Authority (CAA) stated on Saturday. Earlier, Pakistan had suspended domestic and international flight operations in the country in a bid to contain the coronavirus till April

Published 19 Apr, 2020 12:00am

Global Business Economy

Landmark Lebanon hotel closes over economic crisis

A five-star hotel in Beirut that once hosted royalty and survived the civil war has been forced to close over Lebanon's economic crisis and coronavirus lockdown, its manager said Saturday.

Published 19 Apr, 2020 12:00am

Congregational prayers during Ramazan: President outlines plan agreed with ulema

A consultative meeting of ulema and religious scholars held on Saturday presided over by President Arif Alvi, agreed to conditionally allow prayer congregations and Taraweeh prayers during Ramazan.

Published 19 Apr, 2020 12:00am

Country could still face spike in cases from May 15: PM

Prime Minister Imran Khan on Saturday warned that though the number of cases in Pakistan is lower than many other countries of the world, the country might face increased coronavirus cases from May 15 onwards, bringing the healthcare system under a signif

Published 19 Apr, 2020 12:00am

PCDMA urges SBP governor to give relaxation to importers

Chairman Pakistan Chemicals & Dyes Merchants Association (PCDMA) and former Director of Karachi Stock Exchange, Amin Yousuf Balgamwala has urged Governor State Bank of Pakistan Reza Baqir to give relaxation to importers for the payment of their documents

Published 19 Apr, 2020 12:00am

APNS condoles over demise of PBA chairman's mother

The APNS expresses its profound grief over the sad demise of the mother of Shakeel Masood, Chairman PBA. Hameed Haroon, President and Sarmad Ali, Secretary General of the All Pakistan Newspapers Society have condoled Shakeel Masud, Chairman Pakistan Broad

Published 19 Apr, 2020 12:00am

Virus deaths top 150,000: US braces for lockdown protests

Coronavirus deaths have surged past 150,000 worldwide with nearly a quarter of them in the United States, where new rallies against lockdown orders are being held after President Donald Trump lent his support to the protesters.

Published 19 Apr, 2020 12:00am

UK announces £3.67 million support

The UK on Saturday announced £3.67 million - the first in a series of measures - to give wide-ranging support to help the "poorest and the most vulnerable" people in Pakistan during the coronavirus outbreak as well as for the rapid response of controlling

Published 19 Apr, 2020 12:00am

Circumstances make it difficult to recalibrate EFF: IMF

The severity of the COVID-19 shock and the uncertainty about the outlook, make it difficult to recalibrate the existing Extended Fund Facility (EFF) to ensure that it remains on track to meet its objectives, says the International Monetary Fund (IMF).

Published 19 Apr, 2020 12:00am

IMF's EFF put on hold: China to contribute $6.3 billion in financing over next 12 months

China will contribute $6.3 billion in financing to Pakistan over the next 12 months with all key bilateral partners committing to maintaining their exposure throughout the Extended Fund Facility (EFF) programme which would remain in effect, says the Inter

Published 19 Apr, 2020 12:00am

Details of bank accounts: Sharing not feasible, SBP governor tells cabinet

State Bank of Pakistan (SBP) Governor Dr Reza Baqir has made it clear to the Cabinet that sharing of bank accounts' details of customers with deposits of over Rs 50,000 is not feasible.

Published 19 Apr, 2020 12:00am

Shakilur Rahman: Physical remand extended till April 28

An accountability court on Saturday extended physical remand of Jang group editor-in-chief Mir Shakilur Rehman till April 28 in the 54-kanal land allotment case. Earlier, the special prosecutor told the court that process of the investigation remained slo

Published 19 Apr, 2020 12:00am

Jica provides Rs 784 millions to set up 'Business Park' at KFH

Japan International Cooperation Agency (Jica) has provided Rs 784 million for establishment of "Business Park" at Korangi Fish Harbour (KFH).

Published 19 Apr, 2020 12:00am

FBR system fails to process refund claims: Exporters of seasonal products unable to file Annexure-H

Despite tall claims of the Federal Board of Revenue (FBR) for refund payments within 72 hours, exporters of seasonal products are still unable to file Annexure-H (stock statement) required for claiming speedy refunds under the FASTER system, resulting in

Published 19 Apr, 2020 12:00am

PSDP 2019-20: Rs 522.23 billion released against budgeted Rs 701 billion

The federal government has released Rs522.23 billion (74.5 percent) including Rs95.84 billion foreign aid (74.7 percent) for various ongoing and new development projects under the Public Sector Development Programme (PSDP) 2019-20 against the total budget

Published 19 Apr, 2020 12:00am

Tax expert advocates escrow accounts for developers, builders

The government should allow developers and builders to deposit project investment money in the escrow accounts instead of bank accounts to claim exemptions from probing source of investment under section 111 of the Income Tax Ordinance 2001.

Published 19 Apr, 2020 12:00am

Construction industry, hoarding/smuggling: Laws required to be implemented in letter and spirit

Passage of new ordinances for the promotion of construction industry and controlling hoarding and smuggling in the country will not solve the problem unless implemented in letter and spirit.

Published 19 Apr, 2020 12:00am

GST, FED returns: FBR extends deadline

The Federal Board of Revenue (FBR) Saturday night extended the date for payment and filing of sales tax and federal excise returns for tax period of March 2020. According to the FBR instructions issued to the field formations, the payment date been extend

Published 19 Apr, 2020 12:00am

Former CJ PHC Tariq Pervez passes away

Former chief justice of Peshawar High Court Tariq Pervez has passed away. The late Peshawar High Court Chief Justice remained acting Chief Minister KP back in 2013 and performed his duties as a judge of the Supreme Court of Pakistan.

Published 19 Apr, 2020 12:00am

Regular flight operations: CAA extends suspension up to April 30

The Civil Aviation Authority (CAA) has extended the suspension of international and domestic flight operations up to April 30 as part of COVID-19 precautionary measures.

Updated 21 Apr, 2020 05:23pm

Letters

Misleading video clip

According to media reports, President Vladimir Putin has postponed a landmark military parade to mark the 75th anniversary of Soviet victory in World War II, as Russia struggles to contain the rapid spread of the coronavirus. The "risks associated with th

Published 19 Apr, 2020 12:00am

Articles

Pay the rent or eat? Suddenly jobless Americans face dilemma

Terra Thomas, one of the millions of Americans who have lost their income due to the coronavirus pandemic, was stuck between a rock and a hard place - pay her rent or put food on the table?

Published 19 Apr, 2020 12:00am

Articles

Covid-19 crisis - Philanthropy's response in Pakistan

The Covid-19 has confronted the world with a new and emerging challenge whose complete scale and magnitude are yet to be properly understood and established. The Federal and provincial governments have taken a number of measures to further counter the spr

Published 19 Apr, 2020 12:00am

Articles

Time to negotiate IPP contracts

The report on Power Sector by M. Ali and team touched the IPPs where it hurts the most. The reaction of Independent Power Producer Association (IPPA) and a letter by the sitting Petroleum Advisor to PM (who is a shareholder in an IPP and ex-chairman IPPA)

Published 19 Apr, 2020 12:00am

Why not amnesty for all?

A number of businesspeople are raising a pertinent question, even though it may prove to be controversial, about a recent federal government decision: If the government can offer tax amnesty to one sector, or industry, then why can't it extend it to the w

Updated 20 Apr, 2020 06:50am

An unprecedented oil deal

The Oil and Petroleum Exporting Countries (Opec) agreed to slash production by 10 percent (10 million barrels per day) from 1st May, reportedly the largest cut in output in its history. The deal was struck after US President Donald Trump exerted considera

Updated 20 Apr, 2020 06:49am

Business & Economy

SCCI chief seeks comprehensive fiscal relief package

President of the Sarhad Chamber of Commerce and Industry Engr Maqsood Anwar Pervaiz has urged the government to announce a comprehensive fiscal relief package for coronavirus-hit small scale industries and traders.

Published 19 Apr, 2020 12:00am

Violation of section 144: Another case registered against Maulana Aziz, others

The Islamabad Capital Territory (ICT) police have registered another case against former Lal Masjid cleric Maulana Abdul Aziz and others for holding Friday congregational prayers in violation of Section 144 imposed in the city in the wake of spread of cor

Published 19 Apr, 2020 12:00am

Coronavirus spreading in thickly populated areas of city: CM

Sindh Chief Minister Syed Murad Ali Shah has said that the coronavirus has started further spreading in thickly populated areas of Layri, Lee Market, Kharadar, Bihar Colony and different localities of various union council of district East, Malir, Korangi

Published 19 Apr, 2020 12:00am

Two murdered in ICT; cars stolen

Following the imposition of the lockdown in the city after the spread of the coronavirus, two cases of murder and several robbery cases were registered by various police stations.

Published 19 Apr, 2020 12:00am

PPP inaugurates soup kitchen

The Pakistan People's Party (PPP) on Saturday inaugurated a soup kitchen in Islamabad.

Published 19 Apr, 2020 12:00am

Rs 132 million to be distributed among deserving families of Swabi

The Speaker of the National Assembly, Asad Qaiser, said on Saturday that Rs132 million is being distributed amongst 11,000 deserving families of the district of Swabi under the Ehsas Programme.

Published 19 Apr, 2020 12:00am

Prices of essential kitchen items declined last week

Prices of essential kitchens items have witnessed a decline during this past week compared to the week before it, a survey conducted by Business Recorder revealed here on Saturday.

Published 19 Apr, 2020 12:00am

Video link meeting: GB leaders apprise Bilawal of insufficient steps against Covid-19

A meeting of Pakistan People's Party (PPP) Gilgit-Baltistan was held through a video link and chaired by Chairman PPP Bilawal Bhutto-Zardari.

Published 19 Apr, 2020 12:00am

Sindh government informs SC: Covid-19 cases in 11 UCs were mostly foreign transmitted

The Sindh government has informed the Supreme Court that the coronavirus cases in 11 union councils of Karachi were mostly foreign transmitted from zaireen (pilgrims) and those who returned after performing Umrah.

Published 19 Apr, 2020 12:00am

Siraj demands of government to give relief to masses under IMF assistance

Chief of Jamaat-e-Islami, Senator Sirajul Haq, has demanded the government to provide relief to its masses, as IMF announced relief in the repayment of loans.

Published 19 Apr, 2020 12:00am

Taxes

Zero-rated consumers: DISCOs charge GST, WHT instead of special tariff

The power distribution companies (DISCOs) have charged general sales tax (GST) and withholding tax (WHT) on the basis of notified tariff instead of special tariff for zero-rated industrial consumers for the month of March.

Published 19 Apr, 2020 12:00am

PCB donates Rs 10.05 million in PM's Covid-19 Fund

The Pakistan Cricket Board (PCB) has deposited around Rs 10.05 million in Prime Minister's Covid-19 Pandemic Relief Fund as part of its contribution in the fight against the pandemic. The PCB had earlier announced that the centrally contracted players wil

Published 19 Apr, 2020 12:00am

Industrial sector: LHC approached against massive lay-offs

A bar member on Saturday has approached the Lahore High Court against massive lay-offs in industrial sector due to lockdown in the province of Punjab.

Published 19 Apr, 2020 12:00am

LHC decides to work with full force from April 20

The Lahore High Court (LHC) has decided that judiciary would work with full strength in the province of Punjab to entertain all cases from April 20 which was previously limited to urgent nature cases due to corona virus lockdown.

Published 19 Apr, 2020 12:00am

PM saved country from default by motivating IMF: Sh Rasheed

Federal Minister for Railways Sheikh Rasheed Ahmad has claimed that Imran Khan saved the country from default by motivating International Monetary Fund (IMF) for putting on hold the existing six billions dollars extended fund facility (EFF) for Pakistan.

Published 19 Apr, 2020 12:00am

'Number of recovered corona patients increasing in Punjab'

The Punjab Health Minister Dr Yasmin Rashid said on Saturday that the number of recovered corona patients is steadily increasing in the province as another 25 patients from Mayo returned to their homes after successful recovery.

Published 19 Apr, 2020 12:00am

Use of face masks declared mandatory in Balochistan

The Balochistan government declared on Saturday that wearing a mask mandatory for the citizens in a move to control over the spread of coronavirus.

Published 19 Apr, 2020 12:00am

SU VC chairs special online meeting

Sindh University (SU) Vice Chancellor Prof Dr Fateh Muhammad Burfat held special online meeting with the heads of SU additional campuses to deliberate teaching-learning scenario in case the continuing lockdown stayed intact even after the expected time zo

Published 19 Apr, 2020 12:00am

Business & Economy

PIA resumes relief flights to UK from today

Pakistan International Airlines (PIA) is resuming its special relief flights to the United Kingdom (UK) from Sunday (today). The decision to resume flights to the UK was based on the demand of the expatriates intending to travel to and from Pakistan to re

Published 19 Apr, 2020 12:00am

Business & Economy

BMP terms debt relief measures as positive step

Secretary General (Federal) of the Businessmen Panel (BMP), Ahmad Jawad has said debt relief measures by G20 countries, the International Monetary Fund (IMF) and the World Bank (WB) for developing countries, including Pakistan providing one-year breather

Published 19 Apr, 2020 12:00am

PBA chief condoled over mother's demise

In a statement issued in Karachi on Saturday, the Executive Committee and members of Pakistan Broadcasters Association (PBA) expressed their deep sorrow and grief over the sad demise of the mother of Shakeel Masud, Chairman PBA and CEO Dawn News.

Published 19 Apr, 2020 12:00am

Rs 1.08 billion released so far: 100,000 ration bags distributed in Karachi, 350,000 in interior Sindh: Imtiaz

The Sindh government has released Rs1.08 billion for the distribution of ration bags and till Saturday over 100,000 ration bags were distributed in Karachi and more than 350,000 bags in interior Sindh.

Published 19 Apr, 2020 12:00am

Articles

Ali Suleman Habib remembered

I remember the succinct and focused advice Ali sule gave me in one of my very first presentations to Habib family about the possible vision and direction of Habib University. After I finished laying the case for creating a new university in Karachi, Ali h

Published 19 Apr, 2020 12:00am

Business & Economy

Small traders ask government to evolve SOPs for markets

Small traders Saturday asked the government to evolve SOPs for opening markets and help them scale back continuing financial losses amid Covid-19 spread.

Published 19 Apr, 2020 12:00am

Business & Economy

HCCI SVP condemns HESCO's performance

Hyderabad Chamber of Commerce & Industry's senior vice President Shakira Memon in his statement expressed his dissatisfaction over the performance of Hesco.

Published 19 Apr, 2020 12:00am

Business & Economy

Government urged to reopen Pak-Afghan border completely

President Pakistan Businessmen and Intellectuals Forum Mian Zahid Hussain has urged the government to reopened Pak-Afghan border completely to avoid shortage of essential items and necessary raw material for the industrial sector. Partial reopening of tra

Published 19 Apr, 2020 12:00am

Murad asks PMA to devise SOPs for clinics

Sindh Chief Minister Syed Murad Ali Shah has urged the Pakistan Medical Association (PMA) to devise SOPs for clinics and tell the government how to launch telemedicine clinics so that patients of other diseases could be provided with medical treatment.

Published 19 Apr, 2020 12:00am

Business & Economy

Around 200 stranded truckers return via Torkham border

A district administration official said that as many as 200 Pakistani truckers returned to their native areas via Torkham border. This was stated by Deputy Commissioner of Khyber, Mehmood Aslam Wazir, while talking to this scribe here on Saturday.

Published 19 Apr, 2020 12:00am

Chairman UBG grieved over demise of Ali Suleman Habib

Chairman United Business Group (UBG) and Guard Group of Companies, Iftikhar Ali Malik has expressed heartfelt grief and sorrow on sad demise of Chairman Indus Motor Company Ali Suleman Habib.

Published 19 Apr, 2020 12:00am

Energy

APOTOA threatens to park oil tankers in front of Bilawal House

All Pakistan Oil Tanker Owners Association (APOTOA) senior vice chairman Mir Shams Shahwani Saturday urged the Sindh government to resolve oil transportation sector's issues in next 72 hours, otherwise the association will park all oil tankers in front of

Published 19 Apr, 2020 12:00am

Commodities

Canadian canola futures dip

ICE Canadian canola futures dipped on Thursday, weighed down by weaker soyaoil and palm prices, and an uptick in commercial hedges. Canola lacks a bullish story and has been unable to string many gains together, even as the Canadian dollar weakened, a tra

Published 19 Apr, 2020 12:00am

Commodities

Paris wheat futures rise after Egypt buys from France

Paris wheat futures rose on Thursday as a large sale of French wheat to Egypt in an international tender underscored strong export activity and took attention away from flagging domestic demand during the coronavirus epidemic.

Published 19 Apr, 2020 12:00am

Energy

US natural gas jumps as output likely to fall

US natural gas futures jumped over 5% on Thursday on expectations gas production will drop as drillers will cut oil production in shale basins due to a collapse in crude prices. Those oil wells also produce a lot of gas.

Published 19 Apr, 2020 12:00am

Cotton & Textile

Business remains dull on cotton market

The Cotton Association on Saturday has not uploaded the daily market report on their website because of the lock down due to coronavirus. Trading remained dull on the cotton market as no major activity was witnessed in the market.

Published 19 Apr, 2020 12:00am

Energy

European gasoline margins rise

Northwestern European gasoline refining margins rose on Thursday for a second consecutive day this week. Although coronavirus-related lockdowns dampened gasoline demand, trade remained high mainly for storage.

Published 19 Apr, 2020 12:00am

Commodities

Ukrainian wheat prices hit season's high on strong demand

Ukrainian wheat export prices have risen to this season's high amid strong demand from foreign buyers, APK-Inform agriculture consultancy said on Thursday.

Published 19 Apr, 2020 12:00am

Dubai opens 3,000-bed field hospital

Dubai opened a 3,000-bed capacity field hospital on Saturday in its World Trade Centre to prepare for a potential surge in novel coronavirus cases. The towering event and exhibition centre is located in the heart of the city, one of the seven members of t

Published 19 Apr, 2020 12:00am

Prague Airport says thwarted several cyber attacks

Rates

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (April 18, 2020).

Published 19 Apr, 2020 12:00am

The Weather

The weather report on Saturday (April 18, 2020) and the forecast for Sunday (April 19, 2020).

Updated 20 Apr, 2020 06:20am

Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (April 18, 2020).

Published 19 Apr, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 21	278.03
USD PKR Interbank Buying / Nov 21	277.78
USD to Japanese Yen / Nov 21	154.92
USD to Swiss Franc / Nov 21	0.88
Pound Sterling to USD / Nov 21	1.26
Euro to USD / Nov 21	1.05

Stock	Volume
S&P 500 / Nov 20	5,917.11
Nasdaq / Nov 20	18,966.14
Dow Jones / Nov 20	43,408.47
India Sensex / Nov 21	77,137.20
Tokyo Nikkei / Nov 21	38,026.17
Hang Seng / Nov 21	19,620.49
FTSE 100 / Nov 21	8,069.57
Germany DAX 30 / Nov 21	18,942.65

Item	Value
Petrol/Litre / Nov 21	248.38
Crude Oil USD/Barrel / Nov 21	69.38
Karachi Cotton PKR/37.32 KG / Nov 21	17,785
Gold 10 Grams PKR / Nov 21	238,340
Gold Spot USD/Ounce / Nov 21	2,662.71
Diesel/Litre / Nov 21	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 21 786 Investments Limited(786)	7.11 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 21 Al-Abbas Sugar Mills Limited(AABS)	611.40 ▼ 0.00 (0.00%)
Agro Allianz / Nov 21 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 21 Ali Asghar Textile Mills Limited(AATM)	63.60 ▼ 0.00 (0.00%)
Allied Bank / Nov 21 Allied Bank Limited(ABL)	114.42 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 21 Abbott Laboratories (Pakistan) Limited(ABOT)	1,048.22 ▼ 0.00 (0.00%)
Abson Ind. / Nov 21 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 21 Alfalah Consumer Index ETF.(ACIETF)	12.32 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 21 786 Investments Limited(786)	7.11 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 21 Al-Abbas Sugar Mills Limited(AABS)	611.40 ▲ 0.00 (0.00%)
Agro Allianz / Nov 21 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 21 Ali Asghar Textile Mills Limited(AATM)	63.60 ▲ 0.00 (0.00%)
Allied Bank / Nov 21 Allied Bank Limited(ABL)	114.42 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 21 Abbott Laboratories (Pakistan) Limited(ABOT)	1,048.22 ▲ 0.00 (0.00%)
Abson Ind. / Nov 21 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 21 Alfalah Consumer Index ETF.(ACIETF)	12.32 ▲ 0.00 (0.00%)

Stock	Volume
K-Electric Ltd. / Nov 21 K-Electric Limited(KEL)	174,389,145 ▲ 0.00
Hascol Petrol / Nov 21 Hascol Petroleum Limited(HASCOL)	63,973,243 ▲ 0.00
Kohinoor Spining / Nov 21 Kohinoor Spinning Mills Limited(KOSM)	62,996,737 ▲ 0.00
Aisha Steel Mill / Nov 21 Aisha Steel Mills Limited(ASL)	48,137,561 ▲ 0.00
Waves Home Appliances / Nov 21 Waves Home Appliances Limited(WAVESAPP)	43,506,391 ▲ 0.00
Lotte Chemical / Nov 21 Lotte Chemical Pakistan Limited(LOTCHEM)	40,852,960 ▲ 0.00
Telecard Limited / Nov 21 Telecard Limited(TELE)	36,937,252 ▲ 0.00
Cnergyico PK / Nov 21 Cnergyico PK Limited(CNERGY)	31,401,025 ▲ 0.00
WorldCall Telecom / Nov 21 Worldcall Telecom Limited(WTL)	31,346,592 ▲ 0.00

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