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May 02, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-06-11
PTCL sell-off must to maintain profit base: minister

PTCL sell-off must to maintain profit base: minister

Minister for Information Technology Sardar Awais Ahmad Khan Leghari has said privatisation of Pakistan Telecommunication Corporation (PTCL) was essential for sustaining current Rs 29 billion per annum profits on permanent basis. "After three to four years
Published 11 Jun, 2005 12:00am
Karachiites cautioned against rough seas

Karachiites cautioned against rough seas

Edhi Marine Service sources here on Friday warned Karachiites that since the coastal water has turned rough and high tide is also registered it would be appropriate to avoid bathing in sea. It was mentioned that with the onset of monsoon and heavy sea cur
Published 11 Jun, 2005 12:00am
Plan to enter $30 billion carbon trading market

Plan to enter $30 billion carbon trading market

Minister of State for Environment Malik Amin Aslam on Friday launched carbon trading strategy which invites and envisages investments in renewable energy, energy conservation end forestry sectors for the country. The strategy is based on participation in
Published 11 Jun, 2005 12:00am
Jam Saqi and wife case: investigation officer ordered to conduct probe

Jam Saqi and wife case: investigation officer ordered to conduct probe

Justice Amir Hani Muslim of Sindh High Court, who is also the administrative judge of anti terrorism courts (ATCs) in Karachi, on Friday ordered investigation officer to conduct investigation of kidnapping for ransom case against human rights activist Jam
Published 11 Jun, 2005 12:00am
Kashmiri leadership's inclusion in talks imperative: Mirwaiz

Kashmiri leadership's inclusion in talks imperative: Mirwaiz

All Parties Hurriyat Conference Chairman Mirwaiz Umar Farooq on Thursday, emphasised the need to include Kashmiri leadership in the dialogue process between Pakistan and India for the resolution of long-standing Kashmir dispute. He was speaking on the occ
Published 11 Jun, 2005 12:00am
World War II Polish veteran conferred medal

World War II Polish veteran conferred medal

A special medal was presented to Mrs Zofia Turowicz, aged 89, Poland's former pilot officer, who has been living in Karachi since 1949, to acknowledge services rendered by her to Poland's victory in the World War II against the forces of fascism. Polish M
Published 11 Jun, 2005 12:00am
'Positive change occurred in Indian leadership attitude'

'Positive change occurred in Indian leadership attitude'

Azad Jammu and Kashmir Muslim Conference President, Sardar Attique Ahmed Khan, has said that if the ongoing process kept moving ahead unrestricted, days are not far when the Kashmiris would get their rights. Speaking at a PTV programme, Khan said, it is d
Published 11 Jun, 2005 12:00am
Pakistan concerned over wealth-jobs' creation gap

Pakistan concerned over wealth-jobs' creation gap

Pakistan's Permanent Representative Ambassador to Geneva, Masood Khan on Friday expressed concern over the growing gap between wealth and creation of jobs, posing serious challenge to international security and development. He was speaking at the annual m
Published 11 Jun, 2005 12:00am
Budget - positive and negative aspects

Budget - positive and negative aspects

Whilst there are some positive steps in the budget there are some negative points also. The positive steps are: Poverty-related expenditure increased by 16.5% (Rs 324 billion).
Published 11 Jun, 2005 12:00am
Corruption in KWSB

Corruption in KWSB

Corruption, dishonesty and injustice exist in all sections of the Karachi Water and Sewerage Board, particularly in the office of DMD (T/S) and Chief Engineer (W/D) that control all connections (legal and illegal), disconnection's and above all water-dist
Published 11 Jun, 2005 12:00am
Balloons, supercomputers chase India's monsoon

Balloons, supercomputers chase India's monsoon

S S Samant stands in long grass holding an off-white balloon the size of a baby elephant, ready to release it to the laps of the rain gods. The Indian meteorologist awaits a signal from a colleague atop an office building some 300 metres (yards) away for
Published 11 Jun, 2005 12:00am
The Punjab budget

The Punjab budget

The Punjab Finance Minister, Husnain Bahadur Dareshak, presented a surplus, development-oriented budget of Rs 224.40 billion in the provincial assembly on Thursday. The total budgetary outlay is higher than that of the current fiscal by Rs 42.58 billion.
Published 11 Jun, 2005 12:00am
The Punjab budget

The Punjab budget

The Punjab Finance Minister, Husnain Bahadur Dareshak, presented a surplus, development-oriented budget of Rs 224.40 billion in the provincial assembly on Thursday. The total budgetary outlay is higher than that of the current fiscal by Rs 42.58 billion.
Published 11 Jun, 2005 12:00am
Unrealistic claims

Unrealistic claims

At its meeting in Islamabad on Wednesday, the National Security Council (NSC) discussed the issue of high prices of essential items and the Medium Term Development Framework, mostly in a self-congratulatory way, and in one instance, to the point of losing
Published 11 Jun, 2005 12:00am
Reckitt Benckiser launches Veet Lotions

Reckitt Benckiser launches Veet Lotions

Reckitt Benckiser Pakistan recently announced the launch of Veet Lotions, a new product category from its global portfolio. Press release issued here on Thursday said that Veet Lotion has been introduced specifically to facilitate young, active women of t
Published 11 Jun, 2005 12:00am
Kodak health group introduces new technology

Kodak health group introduces new technology

The Kodak Limited Pakistan has announced the latest technology being introduced by Kodak Health Group and Eastman Kodak Company, New York, the Kodak's integrated RIS/PACS suite, including Kodak's Radiology Information System (RIS) and Picture Archiving an
Published 11 Jun, 2005 12:00am
PSO inaugurates online maintenance system

PSO inaugurates online maintenance system

Pakistan State Oil (PSO) on Wednesday inaugurated online maintenance and fault management system. The system has been developed by ZAQSoft Private Limited. The Executive Director Customer Services PSO, Kalim Ahmed Siddiqui inaugurated the system. The stru
Published 11 Jun, 2005 12:00am
SAB disappointed with budget

SAB disappointed with budget

The farming community has expressed strong reservations over the Federal Budget 2005-06. President of Sindh Abadgar Board, Abdul Majeed Nizamani, while talking to Business Recorder, said that there was lot of expectations about relief packages for
Published 11 Jun, 2005 12:00am
ABC comments on budget

ABC comments on budget

The American Business Council (ABC) greatly appreciates government efforts to involve all chambers and business forums in the budget preparation process. In March this year, ABC had submitted its proposals to CBR and was invited in April by chairman CBR a
Published 11 Jun, 2005 12:00am
APNS welcomes lifting of ban on advertisements to Dawn

APNS welcomes lifting of ban on advertisements to Dawn

The APNS has welcomed the decision of Sindh government to lift the ban on provincial government advertisements to 'Daily Dawn' imposed by it on last Thursday stated a press statement of the APNS. Kazi Asad Abid, Secretary General in a press statement has
Published 11 Jun, 2005 12:00am
Demand to waive proposed levy on cash withdrawals

Demand to waive proposed levy on cash withdrawals

Immediate withdrawal of the proposed condition of 0.1 percent withholding tax on withdrawals from banks on amount of over Rs 25,000 has been demanded by the All Pakistan Marble Industries Association (Apmia). The Association, in a statement issued here on
Published 11 Jun, 2005 12:00am
Demand to waive proposed levy on cash withdrawals

Demand to waive proposed levy on cash withdrawals

Immediate withdrawal of the proposed condition of 0.1 percent withholding tax on withdrawals from banks on amount of over Rs 25,000 has been demanded by the All Pakistan Marble Industries Association (Apmia). The Association, in a statement issued here on
Published 11 Jun, 2005 12:00am
The Weather

The Weather

The weather report on Friday (June 10) and the forecast for Saturday (June 11, 2005).
Published 11 Jun, 2005 12:00am
Withholding tax imposition on cash withdrawal opposed

Withholding tax imposition on cash withdrawal opposed

The Union of Small and Medium Enterprises (Unisame) has questioned the wisdom behind the imposition of withholding tax of 0.1 percent on the cash withdrawals of Rs 25,000 and above. Unisame President Zulfikar Thaver said the small businessmen usually draw
Published 11 Jun, 2005 12:00am
New York cotton

New York cotton

Friday's closing prices of New York cotton in US cents/lb.

Published 11 Jun, 2005 12:00am
Withholding tax imposition on cash withdrawal opposed

Withholding tax imposition on cash withdrawal opposed

The Union of Small and Medium Enterprises (Unisame) has questioned the wisdom behind the imposition of withholding tax of 0.1 percent on the cash withdrawals of Rs 25,000 and above. Unisame President Zulfikar Thaver said the small businessmen usually draw
Published 11 Jun, 2005 12:00am
New York cotton

New York cotton

Friday's closing prices of New York cotton in US cents/lb.

Published 11 Jun, 2005 12:00am
Tripack Films ratings maintained

Tripack Films ratings maintained

The Pakistan Credit Rating Agency (Pacra) has maintained both long-term and short-term ratings of Tripack Films Limited (TPFL) at 'A+' (Single A Plus) and 'A 1' (A One), respectively. These ratings denote a low expectation of credit risk emanating from a
Published 11 Jun, 2005 12:00am
Key stock market movements at 1700 GMT on June 10

Key stock market movements at 1700 GMT on June 10

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).
Published 11 Jun, 2005 12:00am
Tripack Films ratings maintained

Tripack Films ratings maintained

The Pakistan Credit Rating Agency (Pacra) has maintained both long-term and short-term ratings of Tripack Films Limited (TPFL) at 'A+' (Single A Plus) and 'A 1' (A One), respectively. These ratings denote a low expectation of credit risk emanating from a
Published 11 Jun, 2005 12:00am
Consultants appointed to implement Rs 10.5 billion package for Hyderabad

Consultants appointed to implement Rs 10.5 billion package for Hyderabad

For the implementation of President General Pervez Musharraf's package for Hyderabad development amounting to Rs 10.5 billion, consultants have been appointed. They will prepare development action plan and supervise the engineering service works of the pr
Published 11 Jun, 2005 12:00am
'Internet penetration in Pakistan only 1 percent'

'Internet penetration in Pakistan only 1 percent'

The Internet penetration in Pakistan stood only at one percent and is likely to touch over 16 percent by 2009. Cyber Internet Services Director and Chief Operating Officer Ansar-ul-Haq stated this, while speaking on "Trend of Internet Advertising in Pakis
Published 11 Jun, 2005 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (June 10, 2005).

Published 11 Jun, 2005 12:00am
ICAP lauded for adopting IAS/IFRS

ICAP lauded for adopting IAS/IFRS

Institute of Chartered Accountants of Pakistan (ICAP) President Zafar Sobani, and Vice-President Asad Ali Shah gave a joint presentation on adoption and implementation of International Accounting Standards (IAS) and International Financial Reporting Stand
Published 11 Jun, 2005 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (June 10) and Saturday (June 11, 2005).
Published 11 Jun, 2005 12:00am
Emirates SkyCargo gears up for mango season

Emirates SkyCargo gears up for mango season

Emirates SkyCargo is gearing up for upcoming mango season in Pakistan and will be tickling the palates of everyone from Amsterdam to Zurich, the statement issued here said. The airline is known to have made significant contributions in helping exporters u
Published 11 Jun, 2005 12:00am
Services of Sadiq School hailed

Services of Sadiq School hailed

Governor of Punjab Lieutenant General Khalid Maqbool (Retd), chairing a meeting of Board of Governors of Sadiq Public School here on Friday, appreciated services of the school towards providing excellent education services to the children of Southern Punj
Published 11 Jun, 2005 12:00am
Carpet exports witness substantial increase

Carpet exports witness substantial increase

The carpet exports witnessed substantial increase in terms of both quantity and receipts during July 2004-April 2005 as compared to the corresponding period last year While talking to newsmen, the carpet industry's spokesman, Tahir Naeem Shaikh said, "as
Published 11 Jun, 2005 12:00am
ADB may provide $60 million for Rawalpindi environmental projects

ADB may provide $60 million for Rawalpindi environmental projects

The Asian Development Bank is likely to approve $60 million loan for 'Rawalpindi Environmental Improvement' project this year to carry out environmental protection and human development work in the city. Source told Business Recorder here on Friday
Published 11 Jun, 2005 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (June 10, 2005).

Published 11 Jun, 2005 12:00am
First SAP Solution Academy starts operation

First SAP Solution Academy starts operation

First SAP Solution Academy has started its operation here on Friday. The academy, which is a joint project of Abacus Consulting and SAP Malaysia, will impart training in key SAP solutions for enterprise resource planning and supply chain management as wel
Published 11 Jun, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 10, 2005).

Published 11 Jun, 2005 12:00am
PSMA hails appointment of new IG

PSMA hails appointment of new IG

The Pakistan Sugar Mills Association (PSMA) has welcomed the appointment of the former IG Motorway and Highway Police, Zia-ul-Hassan as new Inspector General Police Punjab. In a press statement, PSMA Chairman, Chaudhry Zaka Ashraf, said Zia-ul-Hassan has
Published 11 Jun, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 10, 2005).

Published 11 Jun, 2005 12:00am
NWFP Assembly panel concerned at numberplate frauds

NWFP Assembly panel concerned at numberplate frauds

Members of the NWFP assembly standing committee on excise and taxation members expressed concern over the reported irregularities in computerised number plates of vehicles and decided that ex-Director Excise and Taxation along with the contractors concern
Published 11 Jun, 2005 12:00am
Experts urge government to enforce environmental laws

Experts urge government to enforce environmental laws

Speakers at a seminar on environmental planning said Millennium Development Goals (MDGs) could not be achieved due to prevailing urban challenges and improper implementation of the environmental legislation. They emphasised that environmental planning be
Published 11 Jun, 2005 12:00am
Written test cancelled

Written test cancelled

The written examination for the post of Railway Guard Grade-I (BS-6) and Station Master Group (BS-6) Karachi Division have been cancelled, said a railway announcement here Friday. The examinations were to be held on Saturday at Railways Boys Secondary Sch
Published 11 Jun, 2005 12:00am
THE RUPEE: currency market almost unchanged

THE RUPEE: currency market almost unchanged

The rupee moved slightly in relation to the dollar in the open and inter-bank markets on Friday, dealers said. In the inter-bank market, the rupee maintained its overnight levels most of the time for buying and selling at 59.64 and 59.65, respectively. Th
Published 11 Jun, 2005 12:00am
Inter-city bus terminal

Inter-city bus terminal

Construction work of Inter-City Bus Terminal on Super Highway by the City District Government (CDGK) is expected to start in the next two weeks. According to officials in City Government, tenders have been called in accordance with commitments of the CDGK
Published 11 Jun, 2005 12:00am
THE RUPEE: currency market almost unchanged

THE RUPEE: currency market almost unchanged

The rupee moved slightly in relation to the dollar in the open and inter-bank markets on Friday, dealers said. In the inter-bank market, the rupee maintained its overnight levels most of the time for buying and selling at 59.64 and 59.65, respectively. Th
Published 11 Jun, 2005 12:00am
Cut in motorcycle duty demanded

Cut in motorcycle duty demanded

Motorcycle dealers have criticised the 2005-06 federal budget and said that the government has reduced import duty on cars but no duty reduction was announced for complete built-up (CBU) units of motorcycles. They said that cars are purchased and used by
Published 11 Jun, 2005 12:00am
Five-year ESRA plan to provide quality education

Five-year ESRA plan to provide quality education

Education Sector Reform Assistance (ESRA) programme Islamabad Deputy Chief Dr Suleman Humayun has said the five year programme would bring about education reforms in the country with emphasis on improvement of quality education. Speaking at a news confere
Published 11 Jun, 2005 12:00am
Time right for Kashmir settlement: APHC

Time right for Kashmir settlement: APHC

The Kashmiri APHC leaders have described the present era of cordiality between Pakistan and India as ripe for settlement of the decades-old Kashmir dispute, saying that bright chances stood for resolution of the dispute under President Pervez Musharraf. "
Published 11 Jun, 2005 12:00am
Enabling environment for housing sector created

Enabling environment for housing sector created

With a view to reducing the gap between demand and supply of housing units in the province, the provincial government has decided to create an enabling environment for private sector involvement in the housing and construction industry. According to budge
Published 11 Jun, 2005 12:00am
Post-budget seminar on sales tax

Post-budget seminar on sales tax

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in collaboration with Karachi Sales Tax Bar Association has organised a post-budget seminar on sales tax to be held here Saturday. The seminar would start by 1545 hours at Federation Houses
Published 11 Jun, 2005 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (June 10, 2005).

Published 11 Jun, 2005 12:00am
Sales tax proposal at manufacturer's level opposed

Sales tax proposal at manufacturer's level opposed

The proposal to levy sales tax on retail price at manufacturer's level will lead to de-registration of distributors and retailers, reverse documentation of the economy. Besides, it will also increase smuggling, discourage local manufacturing and will even
Published 11 Jun, 2005 12:00am
$10 million MoU signed for mother, child health programme

$10 million MoU signed for mother, child health programme

United Nations World Food Programme (WFP) and United Nations International Children's Emergency Fund (Unicef) signed a memorandum of understanding (MoU) here on Friday, to spend 10 million dollars for "Mother and Child Health Programme" in Pakistan. Count
Published 11 Jun, 2005 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 11 Jun, 2005 12:00am
Prime Minister meets National Assembly speaker

Prime Minister meets National Assembly speaker

Prime Minister Shaukat Aziz met National Assembly speaker Chaudhry Amir Hussain in his chamber at the Parliament House on Friday and discussed with him proceedings of the current session of the lower house, schedule of the budget session and other related
Published 11 Jun, 2005 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 11 Jun, 2005 12:00am
Kidwai made roving envoy to Sub-Saharan Africa

Kidwai made roving envoy to Sub-Saharan Africa

The government has appointed former High Commissioner of Pakistan to Kenya Hameed Asghar Kidwai as roving Ambassador of Pakistan to Sub Saharan Africa. The former banker Kidwai was credited with increase of Pakistan exports to the East African market from
Published 11 Jun, 2005 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 11 Jun, 2005 12:00am
Pakistan a responsible nuclear state: Kasuri

Pakistan a responsible nuclear state: Kasuri

Foreign Minister Khurshid Mahmood Kasuri has said that Pakistan takes its responsibilities as a nuclear weapons state "seriously." "That is why, when confronted with the challenge of nuclear proliferation two years back, we took immediate steps to help di
Published 11 Jun, 2005 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Friday (June 10, 2005).

Published 11 Jun, 2005 12:00am
NWFP launches 'Literacy for All' project

NWFP launches 'Literacy for All' project

"Literacy for All", a mega project of the NWFP Government is being launched on Saturday (June 11, 2005) to be inaugurated by Chief Minister Akram Khan Durrani in a ceremony at Auqaf Hall Peshawar. The project, being started with 5,000 male and female cent
Published 11 Jun, 2005 12:00am
Jirga extends help in recovery of abducted girl

Jirga extends help in recovery of abducted girl

NWFP Inspector General of Police (IGP) Muhammad Raffat Pasha has categorically made it clear that protection of life, honour and property was the prime responsibility of police and maintenance of law and order and protection of general public would be ens
Published 11 Jun, 2005 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 11 Jun, 2005 12:00am
Rs 2.5 billion five-year plan to control hepatitis

Rs 2.5 billion five-year plan to control hepatitis

The government is launching a five-year programme for prevention and control of hepatitis with a total cost of Rs 2.590 billion. The first chunk of Rs 300 million will be spent in fiscal year 2005-06. But the programme has not provided enough relief to th
Published 11 Jun, 2005 12:00am
Design study report signed for highway N-25

Design study report signed for highway N-25

A design study report for Rs 2.4 billion project has been signed here on Wednesday in order to rehabilitate 96 km long Kararo-Wad section of the ECO highway. The section (Karachi-Quetta-Chaman highway N-25) is a part of the Economic Co-operation Organisat
Published 11 Jun, 2005 12:00am
New IGP calls on Punjab chief minister

New IGP calls on Punjab chief minister

The new Inspector General Police Punjab, Zia-ul-Hassan Khan called on Chief Minister, Chaudhry Pervaiz Elahi, at Chief Minister's House, here on Friday. The Chief Minister directed new IG Police to pay special attention to improve law and order in the pro
Published 11 Jun, 2005 12:00am
Punjab budget termed reflection of chief minister's 2020 vision

Punjab budget termed reflection of chief minister's 2020 vision

Executive Member of the Lahore Chamber of Commerce & Industry (LCCI), Irfan Iqbal Sheikh, has termed the Punjab budget for 2005-06 as a reflection of the 2020 vision of the Chief Minister Punjab, Chaudhry Pervaiz Elahi. In a statement issued here on Frida
Published 11 Jun, 2005 12:00am
CBR discriminates sectors despite big share in GDP

CBR discriminates sectors despite big share in GDP

The Central Board of Revenue is squeezing the manufacturing sector, which pays 61 percent taxes, while its share in gross domestic production (GDP) is only 15.9 percent, a data analyst of CBR reveals. Two sectors are creating great distortion by not payin
Published 11 Jun, 2005 12:00am
CDA withdraws NOC for Green City Housing Society

CDA withdraws NOC for Green City Housing Society

The Capital Development Authority (CDA) has withdrawn from preliminary Scrutiny Clearance (NOC) granted to Green City Housing Society, as it has failed to procure remaining land in spite of repeated notices by the planning wing. In public notice, Capital
Published 11 Jun, 2005 12:00am
Navy fully prepared to meet challenges: Admiral Shahid

Navy fully prepared to meet challenges: Admiral Shahid

Pakistan Navy is alive and aware of the changing geo-strategic situation, in addition to meet the challenges of the added responsibility of war against terror at sea, particularly in the Indian Ocean. Pakistan Navy is also fully prepared to respond to cal
Published 11 Jun, 2005 12:00am
Kashmir issue becomes tripartite: Mushahid

Kashmir issue becomes tripartite: Mushahid

Pakistan Muslim League Secretary General Syed Mushahid Hussain has said that the visit of All Parties Hurriyat Conference's leaders has made the issue of Kashmir tripartite. "It is a matter of fact that the issue has become tripartite because Kashmiri lea
Published 11 Jun, 2005 12:00am
Over 61 percent wheat procurement target achieved

Over 61 percent wheat procurement target achieved

Food Department Multan has procured 586,864 ton wheat so far, achieving 61.13 percent of the target of 960,000 at 75 centres, set up in six districts of the former division here. Food Deputy Director Manzoor Bajwa said the district-wise procurement so far
Published 11 Jun, 2005 12:00am
BoI told to set up one-window facility for investors

BoI told to set up one-window facility for investors

Board of Investment (BoI) should formulate recommendations on fast track basis for establishing active one window facility for local and foreign investors, said Dr Abdul Hafeez Shaikh, Federal Minister for Privatisation and Investment here on Thursday. He
Published 11 Jun, 2005 12:00am
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