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Archive - 2018-04-26
WB delegation visits UVAS
Pakistan Top News

WB delegation visits UVAS

LAHORE: A delegation of World Bank visited the University of Veterinary and Animal Sciences (UVAS) and called on Vice-Ch
Published 26 Apr, 2018 04:20pm
Suzuki: margins disappoint
Automobile

Suzuki: margins disappoint

Pakistan Suzuki (PSX: PSMC) is down but not nearly close to being out. In fact, all signs point toward its future prospe
Published 26 Apr, 2018 06:13am
Packages Limited – 1QCY18
Industry

Packages Limited – 1QCY18

Continuing past trend, Packages top-line increased despite a drop in export sales. While revenue has been rising for Pac
Published 26 Apr, 2018 06:07am
Export growth is destined to remain weak

Export growth is destined to remain weak

Defenders of faith have joyously celebrated the 24% jump in exports during March. To them this is confirmation that the steady decline of the last three years has bottomed out and things are now moving in the right direction.
Published 26 Apr, 2018 12:00am
The myth of dynastic politics

The myth of dynastic politics

Asked the inevitable question in his recent BBC HARDtalk interview, PPP Chairman Bilawal Bhutto Zardari defended dynastic politics as it relates to his party. For obvious reasons, he said, he wouldn't go into the merits and demerits of dynastic politics w
Published 26 Apr, 2018 12:00am
'Gap in perceptions' threatens wider Middle East war

'Gap in perceptions' threatens wider Middle East war

Analysts fear a wider Middle Eastern war is brewing between Iran and its rivals, Israel and Saudi Arabia, warning that their failure to understand each other's intentions threatens to tear the region apart. "We will not allow Iranian entrenchment in Syria
Published 26 Apr, 2018 12:00am
'Dynastic politics'

'Dynastic politics'

This is apropos Business Recorder's editorial "Dyn-astic politics" carried by the newspaper recently. The newspaper has concluded its arguments by saying that "the fact also is that the PPP, much like other parties in Pakistan, hardly has the kind of inte
Published 26 Apr, 2018 12:00am
CJP orders setting up of minority wing in HR Cell

CJP orders setting up of minority wing in HR Cell

Chief Justice Mian Saqib Nisar Wednesday ordered for establishment of a minority wing at Human Rights Directorate, Supreme Court building, Islamabad, to ensure that rights of minorities are properly safeguarded and to ultimately promote and protect such r
Published 26 Apr, 2018 12:00am
Fixing resale price: CCP imposes Rs 5 million penalty on Reliance Paints

Fixing resale price: CCP imposes Rs 5 million penalty on Reliance Paints

The Competition Commission of Pakistan (CCP) has imposed a penalty of Rs 5 million on Reliance Paints Pakistan for fixing a minimum resale price of its products and making its dealers adhere to a price fixing agreement, conduct that is a violation of Sect
Published 26 Apr, 2018 12:00am
APTPMA opposes cut in customs duty on 'textile items'
Cotton

APTPMA opposes cut in customs duty on 'textile items'

All Pakistan Textile Processing Mills Association (APTPMA) has strongly opposed the request to the Ministry of Commerce, to reduce the Customs Duty on "Textile Items" mentioned in the Consultation Notice.
Published 26 Apr, 2018 12:00am
TLYRA leadership: secretary defence, AGP summoned by Supreme Court

TLYRA leadership: secretary defence, AGP summoned by Supreme Court

The Supreme Court on Wednesday summoned secretary defense and attorney general for Pakistan (AGP) to the court on the next hearing to inform the court about the financial details of the Tehreek-e-Labbaik Ya Rasool Allah (TLYRA) leadership. Hundreds of wor
Published 26 Apr, 2018 12:00am
Marriyum condoles death of Madeeha Gohar

Marriyum condoles death of Madeeha Gohar

Minister of State for Information, Broadcasting, National History and Literary Heritage Marriyum Aurangzeb has expressed deep sense of grief over the death of renowned TV artist Madeeha Gohar and paid glowing tribute to her for her artistic ingenuity, cre
Published 26 Apr, 2018 12:00am
Dar's bank account details produced

Dar's bank account details produced

A prosecution witness on Wednesday produced details of personal bank account of former Finance Minister Ishaq Dar before the Accountability Court hearing supplementary reference filed in connection with a corruption reference earlier filed against Dar for
Published 26 Apr, 2018 12:00am
Budget presentation right of next elected government: Bilawal

Budget presentation right of next elected government: Bilawal

Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari on Wednesday said that presenting budget for fiscal year 2018-19 was the prerogative of the upcoming government to be formed after the general election 2018. "Pakistan Muslim League-Nawaz (PML-N
Published 26 Apr, 2018 12:00am
Pakistan condemns Toronto incident

Pakistan condemns Toronto incident

Pakistan strongly condemns the deadly and tragic attack in Toronto this Monday, which resulted in loss of ten innocent lives and injuries to fourteen other. Our thoughts and prayers are with the families of victims, and we wish full recovery of the injure
Published 26 Apr, 2018 12:00am
FBR mulls enlarging scope of speculative business

FBR mulls enlarging scope of speculative business

Federal Board of Revenue (FBR) is mulling enlarging the scope of speculative business from next fiscal year to prevent the revenue leakage, arising out of the transfer of Benami property on power of attorney basis; it was learnt here on Wednesday. Accordi
Published 26 Apr, 2018 12:00am
Warm weather likely to grip

Warm weather likely to grip

Temperature surged to a new high of 47 degrees Celsius in Jacobabad during this season on Wednesday, as the Met Office forecast hot weather for the country in the next 24 hours. The high-temperature struck districts also included Shaheed Benazirabad, Dadu
Published 26 Apr, 2018 12:00am
Zardari-Niazi alliance only meant for sake of power: Shahbaz

Zardari-Niazi alliance only meant for sake of power: Shahbaz

The PML-N President and Punjab Chief Minister Shahbaz Sharif in a meeting with the Minister for Railways Khawaja Saad Rafique, here on Wednesday said that Zardari-Niazi hook-up has been badly exposed. "This alliance is only meant for the sake of power as
Published 26 Apr, 2018 12:00am
Altaf Qureshi's new book on 1965 Indo-Pak war hits book stalls

Altaf Qureshi's new book on 1965 Indo-Pak war hits book stalls

Jamhoori Publications has published famed journalist, prolific writer, analyst and editor of widely read Urdu Digest Altaf Hassan Qureshi's new absorbing book "Jang-e-September Ki Yadeen" that critics have described as a significant addition to the milita
Published 26 Apr, 2018 12:00am
Energy, oil and gas fields: Murad signs MoU with St Petersburg

Energy, oil and gas fields: Murad signs MoU with St Petersburg

Sindh Chief Minister, Syed Murad Ali Shah, has said that Pakistan's close association with Russia is very important in the emergence of a multipolar world and changing power configurations world-wide and the cooperation between both the countries would br
Published 26 Apr, 2018 12:00am
CDC begins sending dividend details through email

CDC begins sending dividend details through email

In order to further facilitate investors, CDC has started sending dividend report (dividend counterfoil) to shareholders through email. The shareholders are going to receive their dividend / zakat and tax deduction report via email once data pertaining to
Published 26 Apr, 2018 12:00am
CDC begins sending dividend details through email

CDC begins sending dividend details through email

In order to further facilitate investors, CDC has started sending dividend report (dividend counterfoil) to shareholders through email. The shareholders are going to receive their dividend / zakat and tax deduction report via email once data pertaining to
Published 26 Apr, 2018 12:00am
Zero loadshedding from June: PM asks Power Division to use all resources

Zero loadshedding from June: PM asks Power Division to use all resources

Prime Minister Shahid Khaqan Abbasi has directed the Power Division to use all resources to generate maximum electricity in the months to come, aimed at fulfilling the government's commitment of zero loadshedding from June this year, well informed sources
Published 26 Apr, 2018 12:00am
'Level playing field should be provided to local entrepreneurs'
Exchange

'Level playing field should be provided to local entrepreneurs'

Senior Vice President and Chairman of the Budget Advisory Council of Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Syed Mazhar Ali Nasir has emphasized that level playing field should be provided to the local entrepreneurs by allowing th
Published 26 Apr, 2018 12:00am
'Level playing field should be provided to local entrepreneurs'
Exchange

'Level playing field should be provided to local entrepreneurs'

Senior Vice President and Chairman of the Budget Advisory Council of Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Syed Mazhar Ali Nasir has emphasized that level playing field should be provided to the local entrepreneurs by allowing th
Published 26 Apr, 2018 12:00am
Government taking steps for rehabilitation of TDPs: Jhagra

Government taking steps for rehabilitation of TDPs: Jhagra

Khyber Pakhtunkhwa Governor Engr Iqbal Zafar Jhagra has said government is taking concrete steps not only for rehabilitation of TDPs to return their native homes but also taking imperative steps to improve health and education along with fulfilling basic
Published 26 Apr, 2018 12:00am
Quarter ended March 31: Allied Bank's PAT rises to Rs 3.77 billion

Quarter ended March 31: Allied Bank's PAT rises to Rs 3.77 billion

The Bank's long-term multi-pronged strategy encompassing effective risk management, deepening of technology driven product suite, automation driven optimization of operational activities and strategic expansion in outreach continues to provide an enabling
Published 26 Apr, 2018 12:00am
Quarter ended March 31: Allied Bank's PAT rises to Rs 3.77 billion

Quarter ended March 31: Allied Bank's PAT rises to Rs 3.77 billion

The Bank's long-term multi-pronged strategy encompassing effective risk management, deepening of technology driven product suite, automation driven optimization of operational activities and strategic expansion in outreach continues to provide an enabling
Published 26 Apr, 2018 12:00am
Kamal challenges provisional results of Census 2017 in SC

Kamal challenges provisional results of Census 2017 in SC

Pak Sarzameen Party (PSP) on Wednesday challenged the provisional results of Census 2017 in the Supreme Court of Pakistan and pleaded for carrying out a third party audit to determine the actual population of Karachi, which he believed was understated in
Published 26 Apr, 2018 12:00am
USAID-sponsored 'Energy Engineering Expo' held

USAID-sponsored 'Energy Engineering Expo' held

Dr Christopher Steel, the United States Agency for International Development (USAID) Director of the Office of Education in Pakistan, joined senior government officials and private energy sector representatives at the inauguration of the Energy Engineerin
Published 26 Apr, 2018 12:00am
Power cuts: traders reject JI's call for strike

Power cuts: traders reject JI's call for strike

Traders Wednesday rejected the Jamaat-e-Islami's call for strike in the city on April 27 against the prolonged power cuts, saying the strike is unjustified for now. With already suffering a sales decline of Rs 10 billion because of prolonged and unschedul
Published 26 Apr, 2018 12:00am
Pakistan band performs at SCO military festival

Pakistan band performs at SCO military festival

The military band from Pakistan performed at the opening ceremony of the fifth "Horn of Peace" Military Band Festival of the Shanghai Cooperation Organization (SCO) here on Wednesday. Military bands from eight countries, namely, China, Kyrgyzstan, Pakista
Published 26 Apr, 2018 12:00am
Earthquake 2005: CJP reviews rehabilitation work in Balakot

Earthquake 2005: CJP reviews rehabilitation work in Balakot

On the insistence of people affected by 2005 earthquake from Balakot, the Chief Justice Mian Saqib Nisar left for Balakot personally to review on-ground situation and adjourned all the cases fixed for Wednesday.
Published 26 Apr, 2018 12:00am
Around 839 acres of Railways land still under encroachment: NA body told

Around 839 acres of Railways land still under encroachment: NA body told

Pakistan Railways on Wednesday admitted that around 839 acres of its land, worth billions of rupees, are still under encroachment in Sukkur and Rawalpindi divisions and it is facing difficulties in getting the land vacated from encroachers due to stay ord
Published 26 Apr, 2018 12:00am
CIIT holds BoGs meeting

CIIT holds BoGs meeting

The 48th special meeting of Board of Governors of CIIT held Wednesday at the Ministry of Science and Technology under the convenership of Federal Minister for Science & Technology and Defence Production / Chancellor CIIT, Rana Tanveer Hussain. Few highlig
Published 26 Apr, 2018 12:00am
Terror financing: draft law seeks to address global concerns

Terror financing: draft law seeks to address global concerns

Amid looming threat of being placed on Financial Action Task Force's (FATF) "blacklist", a parliamentary panel on Wednesday finalized draft of Anti-Terrorism (Amendment), Bill, 2018 to address the concerns of international community with regard to terror
Published 26 Apr, 2018 12:00am
CDA likely to present Rs 30 billion budget

CDA likely to present Rs 30 billion budget

Capital Development Authority (CDA) is likely to present Rs 30 billion budget approximately for the fiscal year 2018-19 against Rs 37.97 billion budget for the outgoing financial year. The CDA sources revealed that the budget is still under consideration
Published 26 Apr, 2018 12:00am
CDA likely to present Rs 30 billion budget

CDA likely to present Rs 30 billion budget

Capital Development Authority (CDA) is likely to present Rs 30 billion budget approximately for the fiscal year 2018-19 against Rs 37.97 billion budget for the outgoing financial year. The CDA sources revealed that the budget is still under consideration
Published 26 Apr, 2018 12:00am
'Challenges and opportunities for Unani Medicine in contemporary world'

'Challenges and opportunities for Unani Medicine in contemporary world'

Unani Medicine is a holistic system of treatment which treats whole person including his mental and physical ailments rather than just the symptoms. This system of treatment has a treasure of effective medicines only the quacks have spoiled its image.
Published 26 Apr, 2018 12:00am
Engro Foods wins Commonwealth award

Engro Foods wins Commonwealth award

Engro Foods from Pakistan has been awarded the Commonwealth Company of the Year Award from the Commonwealth Businesswomen's Network. The award recognises a company that has had a significant impact on women's economic empowerment in the organisation and t
Published 26 Apr, 2018 12:00am
Crude oil: KP government seeks to levy Rs 1,000 per barrel FED

Crude oil: KP government seeks to levy Rs 1,000 per barrel FED

The Khyber Pakhtunkhwa (KP) government has proposed that the Finance Ministry allow it to impose federal excise duty (FED) at the rate of Rs 1,000 per barrel on indigenous crude oil in the Finance Bill 2018-19. The government of KP cited Article 161 (b) o
Published 26 Apr, 2018 12:00am
Crude oil: KP government seeks to levy Rs 1,000 per barrel FED

Crude oil: KP government seeks to levy Rs 1,000 per barrel FED

The Khyber Pakhtunkhwa (KP) government has proposed that the Finance Ministry allow it to impose federal excise duty (FED) at the rate of Rs 1,000 per barrel on indigenous crude oil in the Finance Bill 2018-19. The government of KP cited Article 161 (b) o
Published 26 Apr, 2018 12:00am
PSO signs fuel supply agreement with PQA

PSO signs fuel supply agreement with PQA

Pakistan State Oil (PSO) has further strengthened its business relationship with the Port Qasim Authority (PQA) with the signing of a major fuel supply agreement. Under this agreement, PSO will meet PQAs' entire fuel requirements by supplying action plus
Published 26 Apr, 2018 12:00am
NKATI urges government to lift anti-dumping duty on H2O2

NKATI urges government to lift anti-dumping duty on H2O2

Participants of an emergency meeting of North Karachi Association of Trade and Industry (NKATI) have urged the government to lift anti-dumping and custom duty on hydrogen peroxide (H2O2) because of its shortage.
Published 26 Apr, 2018 12:00am
Timber merchants demand cut in duty on MDF board

Timber merchants demand cut in duty on MDF board

A four-member delegation of Karachi Timber Merchant Group on Monday apprised the Chairman Standing Committee on Finance and Revenue & Economic Affairs Qaiser Ahmed Sheikh that an exorbitant duty on wood and its items like Medium Density Fiber (MDF) Board
Published 26 Apr, 2018 12:00am
Speakers welcome growing use of technology in industry

Speakers welcome growing use of technology in industry

The adaptability of the industry to technology and digitalization would optimize the customer satisfaction as well as boost their volume and profit, speakers believed at a seminar on Smart CX18 here on Wednesday.
Published 26 Apr, 2018 12:00am
Ziauddin University awards degrees to 500 graduates

Ziauddin University awards degrees to 500 graduates

Ziauddin University awarded 504 degrees to its graduating students of different disciplines and 10 gold medals to the outstanding students at the 15th convocation, held at the Expo Centre, here Wednesday.
Published 26 Apr, 2018 12:00am
PHMA submits budget proposals
Cotton

PHMA submits budget proposals

Pakistan Hosiery Manufacturers and Exporters Association (PHMA), in its budget proposals for 2018-19 submitted to the commerce ministry's textile division, has called for reducing energy cost, abolishing Export Development Fund and lessening Sales Tax and
Published 26 Apr, 2018 12:00am
PHMA submits budget proposals
Cotton

PHMA submits budget proposals

Pakistan Hosiery Manufacturers and Exporters Association (PHMA), in its budget proposals for 2018-19 submitted to the commerce ministry's textile division, has called for reducing energy cost, abolishing Export Development Fund and lessening Sales Tax and
Published 26 Apr, 2018 12:00am
PFIA for bringing down TT rates of foreign currencies

PFIA for bringing down TT rates of foreign currencies

Pakistan FMCG Importers Association (PFIA) expressing its grave concern over the rising value of different foreign currencies has urged the government to take immediate steps for bringing down this rate in line with the official rates.
Published 26 Apr, 2018 12:00am
FPCCI delegation leaves for China

FPCCI delegation leaves for China

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) 15-member delegation headed by Vice President Ch. Arfan Yousaf on Wednesday left for a 10-day visit to China to bolster bilateral trade and explore untapped trade opportunities between t
Published 26 Apr, 2018 12:00am
SMEDA submits budget proposals

SMEDA submits budget proposals

Small and Medium Enterprises Development Authority (SMEDA), after a round of consultation across the country has sought special attention for small and medium enterprises in the federal budget 2018-19. SMEDA submitted its budget proposals to the Ministry
Published 26 Apr, 2018 12:00am
SMEDA submits budget proposals

SMEDA submits budget proposals

Small and Medium Enterprises Development Authority (SMEDA), after a round of consultation across the country has sought special attention for small and medium enterprises in the federal budget 2018-19. SMEDA submitted its budget proposals to the Ministry
Published 26 Apr, 2018 12:00am
'Mega water supply project phase II to be started soon in Faisalabad'

'Mega water supply project phase II to be started soon in Faisalabad'

"The mega water supply project phase II would be started shortly which would be completed at cost of Rs 14 billion with the assistance of French Development Bank in order to supply additional 30 million gallon clean drinking water per day to the citizens.
Published 26 Apr, 2018 12:00am
Chan says only Imran can defeat Sharifs in Punjab

Chan says only Imran can defeat Sharifs in Punjab

Only Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan can defeat the Sharifs in Punjab, said Nadeem Afzal Chan as he formally announced joining the party. "The Sharif family has seized Punjab, which once used to be under the sway of Bhuttos," said Chan dur
Published 26 Apr, 2018 12:00am
PTI will hold Minar-e-Pakistan rally at any cost: Sarwar

PTI will hold Minar-e-Pakistan rally at any cost: Sarwar

Pakistan Tehreek-e-Insaf (PTI) Senator Chaudhry Muhammad Sarwar has maintained that the public gathering at Minar-e-Pakistan Jalsa will be held on April 29 at any cost. While addressing a press conference here on Wednesday, he further said that they sough
Published 26 Apr, 2018 12:00am
FFC announces financial results for 1QCY18

FFC announces financial results for 1QCY18

Fauji Fertilizer Company Limited (FFC) has announced first quarterly results for the year 2018. FFC created a new first quarterly benchmark in terms of record all products revenue of Rs 21.67 billion
Published 26 Apr, 2018 12:00am
FFC announces financial results for 1QCY18

FFC announces financial results for 1QCY18

Fauji Fertilizer Company Limited (FFC) has announced first quarterly results for the year 2018. FFC created a new first quarterly benchmark in terms of record all products revenue of Rs 21.67 billion
Published 26 Apr, 2018 12:00am
Exporters demand payment of Rs 100 billion sales tax refunds

Exporters demand payment of Rs 100 billion sales tax refunds

As the government is set to present the most controversial budget, the exporters have demanded payment of over Rs 100 billion sales tax refunds to deal with liquidity crunch. The fate of sales tax refunds is hanging in the balance since last many years, c
Published 26 Apr, 2018 12:00am
'Faisalabad being ignored in formulation of economic policies'

'Faisalabad being ignored in formulation of economic policies'

Faisalabad is one of the most dynamic, vibrant and progressive industrial hub of Pakistan which is being ignored in formulation of economic policies, said Sheikh Farooq Yusuf Acting President Faisalabad Chamber of commerce & Industry (FCCI).
Published 26 Apr, 2018 12:00am
Lotte Group inaugurates new factory in Phoolnagar

Lotte Group inaugurates new factory in Phoolnagar

Lotte Kolson, the manufacturer of one of the most popular snacks and part of South Korean industrial conglomerate Lotte Group, has achieved another huge milestone by launching its new, state-of-the-art factory built on 20 acres in Phoolnagar, District Kas
Published 26 Apr, 2018 12:00am
EFU General Insurance Limited
Mutual Funds

EFU General Insurance Limited

EFU General Insurance Limited (PSX: EFUG) is part of the country's largest insurer group in the country - EFU, which also consists of EFU Life Assurance Limited and Allianz EFU Health Insurance Limited. It was incorporated on September 2, 1932. The non-li
Published 26 Apr, 2018 12:00am
EFU General Insurance Limited
Mutual Funds

EFU General Insurance Limited

EFU General Insurance Limited (PSX: EFUG) is part of the country's largest insurer group in the country - EFU, which also consists of EFU Life Assurance Limited and Allianz EFU Health Insurance Limited. It was incorporated on September 2, 1932. The non-li
Published 26 Apr, 2018 12:00am
Economic corridor: SCB to provide RMB-based solutions to traders
Currency

Economic corridor: SCB to provide RMB-based solutions to traders

Standard Chartered Bank under Belt and Road Initiative (BRI) of China is all set to provide RMB-based solutions to importers and exporters for maximizing share of trade for Pakistan in $2.5 trillion trade volume available to countries taking advantage fro
Published 26 Apr, 2018 12:00am
VMware signs agreement with NTC

VMware signs agreement with NTC

VMware Inc. (NYSE: VMW), a leading innovator in enterprise software Wednesday signed an agreement with National Telecommunications Corporation (NTC). The agreement will enable IT and telecommunications service provider to modernize the country's public-se
Published 26 Apr, 2018 12:00am
KP government seeks income tax exemption for PHC's

KP government seeks income tax exemption for PHC's

The Government of Khyber Pakhtunkhwa has appealed the federal government to exempt Provincial Holding Oil and Gas Companies (known as PHC's) from Income Tax for a period of ten years in the upcoming Finance Bill.
Published 26 Apr, 2018 12:00am
Cigarette price: MoF, FBR urged to eliminate third slab

Cigarette price: MoF, FBR urged to eliminate third slab

Ministry of National Health Services and Regulations has recommended the Ministry of Finance and Federal Board of Revenue (FBR) to eliminate third slab on cigarette price. The ministry officials said that they have proposed the Ministry of Finance to incr
Published 26 Apr, 2018 12:00am
US MIDDAY: gold falls
Exchange

US MIDDAY: gold falls

Gold slumped to a five-week low on Wednesday as the dollar jumped and US Treasury yields continued to rise on signs of US economic strength and an easing in the US-China trade conflict. The benchmark US 10-year Treasury yield breached 3 percent on Tuesday
Published 26 Apr, 2018 12:00am
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