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Print - 2019-11-19
IMF rejects request for downward revision of Rs5.5trn FBR target

IMF rejects request for downward revision of Rs5.5trn FBR target

The International Monetary Fund (IMF) has not accepted Pakistan's request to review downward the Federal Board of Revenue (FBR) tax collection target of Rs 5.5 trillion, which was described as unrealistic and ambitious by many independent economists soon
Published 19 Nov, 2019 12:00am
SPI inflation for combined income groups up 1.09pc WoW

SPI inflation for combined income groups up 1.09pc WoW

The Sensitive Price Index (SPI) based inflation for combined income groups during the week ended November 14, 2019, witnessed an increase of 1.09 percent against November 7, 2019 as it jumped from 131.10 points to 132.53 points, data released by Pakistan
Published 19 Nov, 2019 12:00am
Q1 fiscal deficit declines to 0.7pc from 1.4pc

Q1 fiscal deficit declines to 0.7pc from 1.4pc

The decline in fiscal deficit from 1.4 percent in the first quarter of last year to 0.7 percent in the first quarter of the current year is attributable to lower releases, additional SBP profit and non release of supplementary grants.
Published 19 Nov, 2019 12:00am
C/A turns positive with $99 million surplus

C/A turns positive with $99 million surplus

The country's current account turned positive with $ 99 million surplus in October 2019 supported by significant import compression and slight growth in exports.
Published 19 Nov, 2019 12:00am
Nawaz all set to depart for London today

Nawaz all set to depart for London today

While all necessary arrangements have been finalized, the former premier Nawaz Sharif is all set to depart for London to receive medical treatment on Tuesday (today).
Published 19 Nov, 2019 12:00am
Government restrained from selling PSM land

Government restrained from selling PSM land

The apex court on Monday barred the federal government from selling Pakistan Steel Mills (PSM) land in order to pay gratuity and the provident fund to its former employees.
Published 19 Nov, 2019 12:00am
HBL first Pakistani bank to do RMB trade in China

HBL first Pakistani bank to do RMB trade in China

Habib Bank Limited created history by becoming the first and only bank from Pakistan and one of the three banks from the South Asia and MENA region to offer end-to-end RMB intermediation. The HBL Urumqi branch formally commenced the RMB business last week
Published 19 Nov, 2019 12:00am
Commerce Div, FBR may lock horns over NTP draft

Commerce Div, FBR may lock horns over NTP draft

Commerce Division and Federal Board of Revenue (FBR) are likely to lock horns on the long-awaited draft National Tariff Policy in the federal cabinet meeting on Tuesday (today) as both have extensive differences on the tariff rationalization plan and mand
Published 19 Nov, 2019 12:00am
Ministry grants one-time permission to Nawaz

Ministry grants one-time permission to Nawaz

In compliance with Lahore High Court (LHC) order, Ministry of Interior on Monday granted a one-time permission to former prime minister Nawaz Sharif to travel abroad for medical treatment for four weeks.
Published 19 Nov, 2019 12:00am
Government, army on the same page: DG ISPR

Government, army on the same page: DG ISPR

Director General of Inter Public Services Relations (ISPR) Major-General Asif Ghafoor said the government and Army are on the same page.
Published 19 Nov, 2019 12:00am
PM irked by LHC verdict?

PM irked by LHC verdict?

Prime Minister Imran Khan Monday reiterated that the government would not withdraw corruption cases against the opposition leaders and challenged them to do whatever they could do.
Published 19 Nov, 2019 12:00am
Judge Isa's wife paying more tax than PM: counsel

Judge Isa's wife paying more tax than PM: counsel

Babar Sattar, the counsel for Justice Qazi Faez Isa, has contended before a 10-judge larger bench if his client's wife is paying more tax than Prime Minister Imran Khan then how she is dependent and the Premier, who is paying less tax than her is independ
Published 19 Nov, 2019 12:00am
Asad Umar to rejoin Cabinet

Asad Umar to rejoin Cabinet

The Pakistan Tehreek-e-Insaf-led federal government has decided to get back Asad Umar in the federal cabinet. According to details, senior PTI leader and former finance minister Asad Umar will be made minister for planning and special initiative.
Published 19 Nov, 2019 12:00am
Training launch of ballistic missile Shaheen-1 conducted

Training launch of ballistic missile Shaheen-1 conducted

Pakistan Monday successfully conducted training launch of surface to surface ballistic missile Shaheen-1. According to Inter-Services Public Relations (ISPR), the launch was conducted as part of a training exercise, which was aimed at testing the operatio
Published 19 Nov, 2019 12:00am
CEO EDB, CEO PIDC: Cabinet likely to accord its approval to appointments

CEO EDB, CEO PIDC: Cabinet likely to accord its approval to appointments

The Federal Cabinet which is scheduled to meet on Tuesday (today) with Prime Minister, Imran Khan, in the chair, is expected to approve Raza Abbas Shah as Chief Executive Officer of Engineering Development Board (EDB) and Rizwan Bhatti as CEO Pakistan Ind
Published 19 Nov, 2019 12:00am
COAS arrives in Tehran

COAS arrives in Tehran

COAS arrived in Tehran on official visit on Monday. COAS met Major General Mohammad Hossein, Chief of Staff Iranian Armed Forces. Both discussed regional security environment, efforts for regional peace & stability and Pak-Iran border security mechanism.-
Published 19 Nov, 2019 12:00am
Pakistani jailed for Dutch anti-Islam MP murder 'plot'

Pakistani jailed for Dutch anti-Islam MP murder 'plot'

A Dutch court sentenced a Pakistani man to 10 years behind bars Monday for planning to assassinate anti-Islam politician Geert Wilders after the MP announced a blasphemous cartoon competition.
Published 19 Nov, 2019 12:00am
Why he gives a nonchalant shrug?
Letters

Why he gives a nonchalant shrug?

This is apropos a Business Recorder news item "Obvious signs of turnaround emerge: Hafeez" carried by the newspaper on Sunday. According to it, "Adviser to Prime Minister on Finance Abdul Hafeez Sheikh has said 'dark days are that behind us' as obv
Updated 19 Nov, 2019 10:39am
One hundred days of suffocation
Articles

One hundred days of suffocation

Last Tuesday, as I participated in the 550th birthday celebrations ceremony of Baba Guru Nanak Dev Ji at Janam Asthan, Nankana Sahib in solidarity with Sikhs around the world, millions of innocent people entered into 100th day of isolated confinement coup
Updated 19 Nov, 2019 10:37am
Shooting oneself in the foot, repeatedly
Articles

Shooting oneself in the foot, repeatedly

The Pakistan Tehreek-i-Insaaf (PTI) government of Imran Khan has shown a rare talent for shooting itself in the foot again and again. The whole handling of the Nawaz Sharif health issue is the latest and perhaps most egregious example of this habit. Despi
Updated 19 Nov, 2019 10:33am
It's game on for Politicians

It's game on for Politicians

In the wake of Maulana Fazlur Rehman's 'dharna' in the Capital early this month, followed by countrywide road-blockades, an eerie sense of political uncertainty has begun permeating the national corridors. Up his sleeves he has one more plan, and says he
Updated 19 Nov, 2019 06:25am
Indicators that matter to public at large

Indicators that matter to public at large

Inflation and unemployment are two critical indicators used as a yardstick to assess whether political support for the ruling elite is waning or strengthening. Unfortunately, however, the projected rate of inflation for the current year is 13 percent, a r
Updated 19 Nov, 2019 06:25am
Sugarcane production down 3.8 percent

Sugarcane production down 3.8 percent

Sugarcane production in the year 2019-20 decreased to 64.77 million tons from 67.17 million tons the year before showing a decrease of 3.8 percent however cotton crop has not picked up as a consequence, well informed sources told Business Recorder.
Published 19 Nov, 2019 12:00am
Model Courts materialise vision of expeditious, inexpensive justice: CJP

Model Courts materialise vision of expeditious, inexpensive justice: CJP

Chief Justice of Pakistan Asif Saeed Khan Khosa has said that Model Courts have materialized the vision of expeditious and inexpensive justice as envisaged in Article 37(d) of the Constitution which, otherwise, was just a dream before establishment of Mod
Published 19 Nov, 2019 12:00am
PTI's Punjab chapter concerned at Elahi's remarks

PTI's Punjab chapter concerned at Elahi's remarks

Reports of a possible in-house change in Punjab are doing the rounds in the federal capital following recent statements by PML-Q's Pervez Elahi, a key PTI ally propping up Punjab's political arrangement.
Published 19 Nov, 2019 12:00am
Pakistan to host 8th Istanbul Process next year

Pakistan to host 8th Istanbul Process next year

Pakistan will host the 8th meeting of the Istanbul Process next year with a focus to evolve responses to growing religious intolerance and discrimination based on religion or belief.
Published 19 Nov, 2019 12:00am
Punjab Assembly passes various bills amid Opposition's boycott

Punjab Assembly passes various bills amid Opposition's boycott

The Punjab Assembly on Monday passed The Punjab Land Revenue (Amendment) Bill 2019, The Punjab Zakat and Usher (Amendment) Bill 2019, and The Punjab Seized and Freezed Institution (Madaaris and Schools) Bill 2019 taking advantage of the boycott by the opp
Published 19 Nov, 2019 12:00am
Sheikh Rashid: normal ECG

Sheikh Rashid: normal ECG

Federal Minister for Railways Sheikh Rashid Ahmed was shifted to home from Holy Family Hospital after being cleared by doctors on Monday.
Published 19 Nov, 2019 12:00am
IoBM hosts 4th International Conference on experiential learning

IoBM hosts 4th International Conference on experiential learning

The fourth International Conference on Experiential Learning (ICEL) at the Institute of Business Management (IoBM), Karachi featured prominent corporate leaders, academicians, scholars and government officials, held on November 16 and 17, 2019 at IoBM. Zu
Published 19 Nov, 2019 12:00am
Death anniversary of Chaudhry Rehmat Ali observed

Death anniversary of Chaudhry Rehmat Ali observed

121st death anniversary of Chaudhary Rehmat Ali, the proponent of the word "Pakistan" observed here on Monday. In this connection, a special function was held at Faisalabad Chamber of Commerce & Industry (FCCI) which was also attended by Rana Sikandar Aza
Published 19 Nov, 2019 12:00am
68 vegetable and fruit traders penalised

68 vegetable and fruit traders penalised

The District Administration Lahore has penalised 68 vegetable and fruit traders for overcharging and issued fines of Rs154,000 while seven shopkeepers involved in overcharging were sent to jail and nine cases were registered against the profiteers.The Dep
Published 19 Nov, 2019 12:00am
Government to provide skill development training to 45,000 youth: Murad

Government to provide skill development training to 45,000 youth: Murad

Federal Minister for Communications and Postal Services Murad Saeed has said that the PTI government strongly believes in good governance and supremacy of merit and would provide jobs opportunity and professional skill development training to 45,000 youth
Published 19 Nov, 2019 12:00am
Rupee devaluation main impediment to drug imports
Business & Economy

Rupee devaluation main impediment to drug imports

Drug importers have been forced to stop importing most of the foreign medicines owing to massive depreciation of Pakistani rupee against the US dollar and are of the view that imported drugs have now become too expensive to earn profit in local market.
Published 19 Nov, 2019 12:00am
Pakistan re-negotiating Tapi gas price with TPCL
Energy

Pakistan re-negotiating Tapi gas price with TPCL

Pakistan is in the process of re-negotiating gas price with Tapi Project Company Limited (TPCL), following which a groundbreaking ceremony would be held for 'Pakistan-Section' of the multi-billion dollar trans-country gas pipeline in Chaman.
Updated 19 Nov, 2019 06:35am
China to make $10 billion investment in oil & gas sector: minister
Energy

China to make $10 billion investment in oil & gas sector: minister

Minister for Planning, Development and Reform, Khusro Bakhtyar has said that China has decided to invest $ 10 billion investment in oil and gas sector, $ 4 billion in local and steel sector and $ 9 billion have been approved for ML-I railways project unde
Published 19 Nov, 2019 12:00am
Three suspected bike-lifters arrested

Three suspected bike-lifters arrested

The Anti-Vehicle Lifting Cell (AVLC) on Monday claimed to have arrested three bike-lifters in Saddar and Landhi involved in stealing motorcycles.
Published 19 Nov, 2019 12:00am
Qureshi introduces 'FM Connect'

Qureshi introduces 'FM Connect'

In cognizance of the global evolution of communication and in recognition of the need for greater and quicker access to information, Foreign Minister Shah Mahmood Qureshi introduced 'FM Connect,' a concept based on the principle of fostering greater conne
Published 19 Nov, 2019 12:00am
KMC's anti-encroachment drive continues

KMC's anti-encroachment drive continues

In compliance with the Supreme Court orders, the Karachi Metropolitan Corporation (KMC) on Monday removed encroachments at various city neighbourhoods.
Published 19 Nov, 2019 12:00am
10-bed emergency of SMT hospital inaugurated

10-bed emergency of SMT hospital inaugurated

Around half of the poor segment of Faisalabad is getting free medical facilities from dispensaries and hospitals established by local philanthropists that are also helping government by lessening patient's burden on public sector hospitals and dispensarie
Published 19 Nov, 2019 12:00am
Punjab CM announces soft loan scheme for youth

Punjab CM announces soft loan scheme for youth

The Punjab Chief Minister Sardar Usman Buzdar on Monday announced to start a new scheme of providing soft loans to the needy youth for skills development and an amount of Rs9 billion will be distributed among the youth for starting their own businesses.
Published 19 Nov, 2019 12:00am
Iranian CG calls on Shujaat

Iranian CG calls on Shujaat

Consul General of Iran Mohammad Raza Nazeri called on the Pakistan Muslim League (PML-Q) President Ch Shujaat Hussain at his residence here on Monday and inquired about his welfare. During the meeting, views were also exchanged about prevailing national a
Published 19 Nov, 2019 12:00am
At least 7 die after boat capsizes in Sutlej

At least 7 die after boat capsizes in Sutlej

At least seven people died on Monday and over 25 were reported missing after a boat capsized in river Sutlej near Okara. Residents of the area initiated a rescue operation immediately after the incident. Seven bodies were recovered according to eyewitness
Published 19 Nov, 2019 12:00am
Shahbaz, other PML-N leaders discuss situation

Shahbaz, other PML-N leaders discuss situation

While Pakistan Muslim League-Nawaz (PML-N) President Shahbaz Sharif is leaving for London, the PML-N in a meeting on Monday decided that Shahbaz Sharif will return to Pakistan after health condition of Nawaz Sharif is stabilized.
Published 19 Nov, 2019 12:00am
Partly Facetious: The end of his moustache is tad lower
Articles

Partly Facetious: The end of his moustache is tad lower

"I would just like to bring it to the notice of The Khan that all is not lost in spite of appallingly poor economic data with respect to what matters to the public - inflation, utility prices, unemployment levels, and he can still make amends and..."
Updated 19 Nov, 2019 10:30am
Relief to Nawaz may lead to political provincialism: Aitzaz

Relief to Nawaz may lead to political provincialism: Aitzaz

Pakistan Peoples Party (PPP) stalwart Aitzaz Ahsan said on Monday that relief to Nawaz Sharif would lead to provincialism in the country. He said he was receiving telephone calls from Sindh that permission to Nawaz Sharif for travelling abroad was due to
Published 19 Nov, 2019 12:00am
8 projects worth Rs 31.6 billion approved by CDWP
Business & Economy

8 projects worth Rs 31.6 billion approved by CDWP

The Central Development Working Party (CDWP) has approved as many as eight development projects at the cost of Rs 31.6 billion and recommended five projects valuing at Rs 195.1 billion to the Executive Committee of National Economic Council (ECNEC) for co
Published 19 Nov, 2019 12:00am
Mitchell's Fruit Farms Limited
Brief Recordings

Mitchell's Fruit Farms Limited

Indian Mildura Fruit Farms was established in 1933, by Mr. Francis J. Mitchell, which was later renamed to Mitchell's Fruit Farms Limited (MFFL) after independence, in 1948. It is one of the oldest companies of Pakistan in the food and beverage sector,
Updated 19 Nov, 2019 06:30am
Four killed in California backyard shooting

Four killed in California backyard shooting

Four people were shot dead and six others wounded while watching a football game in the backyard of a central California home on Sunday, police said. Police were called to the scene after at least one person opened fire into a crowd of about 35 people gat
Updated 19 Nov, 2019 06:51am
Two people killed in French bridge collapse

Two people killed in French bridge collapse

A 15-year-old girl and a truck driver were killed Monday after a suspension bridge over a river in southwest France collapsed, reigniting a debate over infrastructure safety in the wake of last year's deadly disaster in Genoa.
Published 19 Nov, 2019 12:00am
Cambodian Princess who rebuilt 'Apsara' dance dies

Cambodian Princess who rebuilt 'Apsara' dance dies

Cambodian Princess Norodom Bopha Devi, a former culture minister who helped resurrect traditional Apsara dance from the ashes of the brutal Khmer Rouge rule in the 1970s, died on Monday at the age of 76, premier Hun Sen said.
Published 19 Nov, 2019 12:00am
US urges new Sri Lanka leader to respect human rights

US urges new Sri Lanka leader to respect human rights

The United States called Monday on Sri Lanka's new president, Gotabaya Rajapaksa, to ensure human rights and accountability after a campaign in which he vowed to scrap a probe into alleged war crimes.
Published 19 Nov, 2019 12:00am
Nigeria's ruling party wins election in key oil state

Nigeria's ruling party wins election in key oil state

Nigeria's ruling party on Monday won the key oil-rich state of Bayelsa, the electoral body said, a sign of President Muhammadu Buhari's growing influence in opposition strongholds.
Updated 19 Nov, 2019 07:15am
North Korea 'no longer interested' in summits with US: KCNA

North Korea 'no longer interested' in summits with US: KCNA

North Korea is "no longer interested" in summits with the US unless Washington offers new concessions in their nuclear negotiations, Pyongyang said Monday, hours after Donald Trump hinted at the prospect.
Updated 19 Nov, 2019 07:15am
Yemen PM returns to Aden under deal with separatists

Yemen PM returns to Aden under deal with separatists

Yemen's prime minister on Monday flew back to the southern city of Aden under the terms of a peace deal with southern separatists who expelled the government from its provisional capital in August.
Published 19 Nov, 2019 12:00am
Saturn moon Titan shaped by same forces as Earth

Saturn moon Titan shaped by same forces as Earth

The largest of Saturn's many moons has lakes, mountains and dunes, with its surface scarred and crafted by many of the same forces which have shaped Earth, scientists said Monday.
Published 19 Nov, 2019 12:00am
Observers slam Belarus polls for flouting democratic norms

Observers slam Belarus polls for flouting democratic norms

Parliamentary polls in Belarus did not show respect for democracy, international observers said Monday, after the opposition to authoritarian President Alexander Lukashenko failed to win a single seat.
Published 19 Nov, 2019 12:00am
Russia gives ships back to Ukraine ahead of summit

Russia gives ships back to Ukraine ahead of summit

Russia on Monday handed over three navy ships it seized a year ago from Ukraine, Moscow and Kiev authorities said, in the latest move to ease tensions between the two countries ahead of a crucial summit.
Updated 19 Nov, 2019 07:13am
Worried about re-election, Trump reportedly shelves vaping ban

Worried about re-election, Trump reportedly shelves vaping ban

US President Donald Trump has backed off from a proposed ban on certain flavors of e-cigarettes, fearing that such a move could cost him votes, US media said Monday. Aides allegedly advised him to hold fire on signing a memo to ban popular e-cigarette fla
Updated 19 Nov, 2019 07:03am
Iran spy agency leaks reveal 'vast' sway in protest-hit Iraq

Iran spy agency leaks reveal 'vast' sway in protest-hit Iraq

The details emerging Monday on a trove of leaked Iranian intelligence documents drove home the depth of its influence in Iraq, where anti-government protesters have accused Tehran of meddling and overreach.
Published 19 Nov, 2019 12:00am
Serbia buys euros to stem dinar gains
Money & Banking

Serbia buys euros to stem dinar gains

Serbia's central bank bought an unspecified amount of euros on local interbank market on Monday to ease appreciation pressures on the domestic currency, dealers said. The bank intervened as the dinar traded at 117.38 against the common currency. After the
Updated 19 Nov, 2019 06:40am