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Print - 2019-12-10
Six Discos: Irregularities/lapses of Rs 390 billion detected

Six Discos: Irregularities/lapses of Rs 390 billion detected

The Auditor General of Pakistan (AGP) has unearthed lapses /irregularities of around Rs 390 billion in achievements of Nepra targets by six power distribution companies due to poor recovery of electricity bills, less revenue recovery, unjustified distribu
Published 10 Dec, 2019 12:00am
Charitable bodies: Rationalization of exemptions recommended

Charitable bodies: Rationalization of exemptions recommended

The Auditor General of Pakistan (AGP) has strongly recommended rationalization of exemptions granted to charitable organizations and withdrawal of income tax exemptions granted under Second Schedule (Exemption Schedule) of the Income Tax Ordinance 2001, s
Published 10 Dec, 2019 12:00am
AGP tells FBR to beef up WEBOC system

AGP tells FBR to beef up WEBOC system

The Auditor General of Pakistan (AGP) has cautioned the Federal Board of Revenue (FBR) to immediately upgrade software and hardware of customs imports clearances on an emergency basis to avert any untoward incident of system failure of Web-Based One-Custo
Published 10 Dec, 2019 12:00am
FBR issues warning to UAE

FBR issues warning to UAE

Federal Board of Revenue (FBR) has requested Ministry of Finance of the United Arab Emirates (UAE) to provide information of all those Pakistanis who have sought the UAE Iqama (work permit) under Residence by Investment (RBI) schemes; otherwise, FBR may t
Published 10 Dec, 2019 12:00am
PM launches anti-corruption mobile 'app'

PM launches anti-corruption mobile 'app'

Prime Minister Imran Khan on Monday launched anti-corruption mobile 'app' and urged the nation to participate in the government's campaign against corruption because it is essential for survival of the country and making the nation great by achieving econ
Published 10 Dec, 2019 12:00am
Paul Volcker dies

Paul Volcker dies

Former US Federal Reserve chairman Paul Volcker, who tackled American inflation in the 1970s and 80s and later lent his name to landmark Wall Street reforms, has died in New York.
Published 10 Dec, 2019 12:00am
Issuance of domestic Ijara Sukuk likely to be approved by Cabinet

Issuance of domestic Ijara Sukuk likely to be approved by Cabinet

The federal cabinet which is scheduled to meet on Tuesday (today) with Prime Minister Imran Khan in the chair is expected to approve issuance of domestic Ijara Sukuk against 1510 acre unencumbered land of Jinnah International Airport, Karachi.
Published 10 Dec, 2019 12:00am
PM seems upbeat about growth prospects

PM seems upbeat about growth prospects

Expressing his optimism about country's economic growth prospects, Prime Minister Imran Khan on Monday said that as economy is now stabilizing, the government's priority would be to increase allocation and spending on education and higher education.
Published 10 Dec, 2019 12:00am
US seals demise of WTO appeals bench

US seals demise of WTO appeals bench

The fate of the World Trade Organization's top court was effectively sealed on Monday after the United States said it would not back a proposal to allow it to continue, trade officials said.
Published 10 Dec, 2019 12:00am
Eight projects worth Rs31.44bn approved by CDWP

Eight projects worth Rs31.44bn approved by CDWP

Central Development Working Party (CDWP) has approved as many as eight development projects at cost of Rs 31.44 billion and recommended three projects valued at Rs 40.22 billion to Executive Committee of National Economic Council (ECNEC) for consideration
Published 10 Dec, 2019 12:00am
PSM BoD to meet today to approve name of CEO

PSM BoD to meet today to approve name of CEO

Pakistan Steel Mills (PSM) Board is to meet on Tuesday (today) to finalize the name of Chief Executive Officer (CEO) and approve annual audited accounts of the "sick" entity, Director's report for the year ending on June 30, 2018 and appointment of audito
Published 10 Dec, 2019 12:00am
Protests over Indian nationality bill

Protests over Indian nationality bill

India's parliament saw raucous scenes on Monday and protests raged in the north-east of the country as MPs debated legislation that stands to give citizenship to religious minorities from neighbouring countries, but not Muslims.
Published 10 Dec, 2019 12:00am
Non-duty paid items
Letters

Non-duty paid items

It is heartening to note that Federal Board of Revenue (FBR) is planning to launch a scheme on national level to provide an opportunity to the owners of smuggled goods to legalise non-duty paid items through payment of duties/taxes and fine/default surcha
Updated 10 Dec, 2019 04:52am
Hot money - the giant killer
Articles

Hot money - the giant killer

Over the years, persistent low investment rate is a worrying sign for Pakistan, and it has become challenging to compete with the emerging and developing economies, which are growing with much faster pace, making it an uphill task for the country. Structu
Updated 10 Dec, 2019 05:34am
Rising poverty
Articles

Rising poverty

The measurement of the number of poor in Pakistan has relied on different approaches. The most commonly used method is to derive a poverty line and determine the extent to which the per capita consumption expenditure of a family falls below this poverty l
Updated 10 Dec, 2019 05:24am
Lahore Darul Aman scandal

Lahore Darul Aman scandal

Lahore Darul Aman (Kashana) shelter home for women in trouble has recently been rocked by its Superintendent Afshan Latif's expose of the sexual exploitation of girls and young women at the hands of the Punjab government's political high-ups and bureaucra
Updated 10 Dec, 2019 07:12am
Rise in inflation

Rise in inflation

It is indeed distressing to see that the rate of inflation in the country continues to be at an elevated level. According to the latest data released by the Pakistan Bureau of Statistics (PBS), the Consumer Price Index (CPI) in November, 2019 was higher b
Updated 10 Dec, 2019 07:12am
Navy celebrates 48th HANGOR day at PMM

Navy celebrates 48th HANGOR day at PMM

A graceful ceremony was organized by Pakistan Navy at Pakistan Maritime Museum to commemorate 48th HANGOR day and to pay homage to our heroes. Every year, 9th December is celebrated in Pakistan Navy as HANGOR Day to commemorate the historic event of sinki
Published 10 Dec, 2019 12:00am
SEPA seizes huge amount of hazardous waste in Sukkur

SEPA seizes huge amount of hazardous waste in Sukkur

Sindh Environmental Protection Agency (SEPA) on Monday claimed to have seized hazardous waste in huge quantity which was illegally stored in a warehouse in Site area of Sukkur city.
Published 10 Dec, 2019 12:00am
GE Power hosts Pakistan 9HA Tech conference
IT & Computers

GE Power hosts Pakistan 9HA Tech conference

GE Power hosted the Pakistan 9HA Tech Conference in the federal capital welcoming the government officials, industry experts, power plant owners and operators, consultants, and others.
Published 10 Dec, 2019 12:00am
PML-N's Marriyum launches scathing attack on PM

PML-N's Marriyum launches scathing attack on PM

PML-N Secretary Information Marriyum Aurangzeb has told Imran Khan that leveling baseless accusations without proof and sermons on anti-corruption won't save his skin and his office.
Published 10 Dec, 2019 12:00am
Foreign funding case: ECP likely to go ahead with proceedings

Foreign funding case: ECP likely to go ahead with proceedings

The Election Commission of Pakistan (ECP) is likely to go ahead with the proceedings of the foreign funding case related to three major political parties, Pakistan Tehreek-e-Insaf (PTI), Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party (PPP
Published 10 Dec, 2019 12:00am
Firdous says clash of two ideologies 'continuing'

Firdous says clash of two ideologies 'continuing'

Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan said on Monday that those, who wanted to "minus" Prime Minister Imran Khan from the political scene, were themselves being minus.
Published 10 Dec, 2019 12:00am
Fake bank accounts case: Physical remand of Haroon extended till 12th

Fake bank accounts case: Physical remand of Haroon extended till 12th

The Accountability Court hearing the multibillion rupees fake bank accounts case on Monday extended physical remand of Ijaz Haroon, former managing director Pakistan International Airlines (PIA) and chairman Overseas Cooperative Society (OCS), for another
Published 10 Dec, 2019 12:00am
PBC concerned at 'ouster' of CJ of AJ&K

PBC concerned at 'ouster' of CJ of AJ&K

Vice-Chairman Pakistan Bar Council Amjad Shah has expressed serious concern on purportedly unconstitutional "ouster" of Chief Justice of Azad Jammu and Kashmir (AJK) High Court Tabassum Aftab Alvi.
Published 10 Dec, 2019 12:00am
International Human Rights Day today

International Human Rights Day today

The Punjab Human Rights and Minority Affairs Department has formally kicked off two-day celebration on the occasion of International Human Rights Day, which will be marked today (December 10).
Published 10 Dec, 2019 12:00am
Senate body for shifting Zardari's cases to Karachi

Senate body for shifting Zardari's cases to Karachi

The Senate Standing Committee on Interior on Monday passed a unanimous resolution seeking shifting of former president Asif Ali Zardari's cases from Islamabad to Karachi.
Published 10 Dec, 2019 12:00am
Zardari must be shifted to Karachi: Bilawal

Zardari must be shifted to Karachi: Bilawal

Chairman Pakistan People's Party Bilawal Bhutto-Zardari has said that he hopes that former president and his father Asif Ali Zardari would get justice on December 11, the day the Islamabad High Court would take up Zardari's bail plea filed on medical grou
Published 10 Dec, 2019 12:00am
PIA flight put on hold at Kabul Airport
Business & Economy

PIA flight put on hold at Kabul Airport

PIA flight PK 250 for the sector Kabul-Islamabad was kept on hold and delayed due to runway maintenance at Kabul Airport. PIA spokesman said that due to obstruction at the start of the runway, full length of take-off was not available. The authorities ins
Published 10 Dec, 2019 12:00am
Cabinet decides: Sindh fixes sugarcane price at Rs 192/40kg

Cabinet decides: Sindh fixes sugarcane price at Rs 192/40kg

Sindh Minister for Information, Archives and Labour Saeed Ghani said on Monday that the Cabinet after detailed discussion fixed the price of sugarcane at Rs 192/40kg. He said that Agriculture Minister Mohammad Ismail Rahu and Secretary of Agriculture Depa
Published 10 Dec, 2019 12:00am
Gold price falls

Gold price falls

Gold trading on Monday was closed for Rs84400 per tola with Rs100 fall on the local market, according to traders. The world market traded gold for US$1464 with US$4 an ounce increase that pulled down the yellow metal to Rs72359 per 10 grams on the local m
Published 10 Dec, 2019 12:00am
ARENA celebrates International Children Day

ARENA celebrates International Children Day

ARENA multimedia celebrated International Children Day recently, at Dar-ul-Sukoon Karachi by arranging a gathering for differently able children in order to make them feel cared. Students of ARENA multimedia visited and distributed gifts among special chi
Published 10 Dec, 2019 12:00am
MQM-P demands CJP take notice of 'unjust' Karachi's census

MQM-P demands CJP take notice of 'unjust' Karachi's census

Dr Khalid Maqbool Siddiqui, Convener Muttahida Qaumi Movement-Pakistan (MQM-P) Monday said that population of urban centers of Sindh particularly Karachi was shown lower than its actual number in the last census and described it a criminal act under the i
Published 10 Dec, 2019 12:00am
Multi-party moot on 'Fata mainstreaming' held

Multi-party moot on 'Fata mainstreaming' held

Politicians, intellectuals and members of the civil society on Monday expressed concern over the non-implementation of political, economic and administrative reforms in the merged districts in the last 18 months. They were speaking at the Multi-Party Conf
Published 10 Dec, 2019 12:00am
1163 awarded degrees at 16th Convocation of SZABIST

1163 awarded degrees at 16th Convocation of SZABIST

The 16th Annual Convocation of the Shaheed Zulfikar Ali Bhutto Institute of Science and Technology (SZABIST) Karachi was held on 8th December 2019 at the Expo Centre. Chief Guest of the occasion was Saleem Mandviwalla (Deputy Chairman, Senate of Pakistan)
Published 10 Dec, 2019 12:00am
Chinese team inks strategic cooperation agreement at NBP
Money & Banking

Chinese team inks strategic cooperation agreement at NBP

A Chinese delegation headed by President of Pakistan Friendship Association of China and Honorary Chairman of the International Green Economy Association, visited National Bank of Pakistan and signed a Strategic Cooperation Agreement for provision of bank
Published 10 Dec, 2019 12:00am
Punjab minister setps up criticism of opposition

Punjab minister setps up criticism of opposition

Provincial Information Minister Fayyaz-ul-Hassan Chohan while expressing his views on International Anti-Corruption Day has said that he congratulates Pakistani nation for getting rid of corrupt rulers. PTI has laid the foundation of eradicating corrupt e
Published 10 Dec, 2019 12:00am
Talented students true assets of nation: Afridi

Talented students true assets of nation: Afridi

Young talented students getting contemporary education in the renowned seats of higher education like Ghulam Ishaq Khan Institute (GIKI) are the true assets of Pakistani nation and the future certainly belongs to them.
Published 10 Dec, 2019 12:00am
Punjab cabinet meets today

Punjab cabinet meets today

The Punjab chief minister Sardar Usman Buzdar has called cabinet meeting today (Tuesday) at 11-00 a.m. at the committee room of CM Office to ponder over 25-points agenda.
Published 10 Dec, 2019 12:00am
Effective monitoring of anti-polio drives planned

Effective monitoring of anti-polio drives planned

On the direction of Punjab Chief Minister Sardar Usman Buzdar, the meeting of provincial taskforce for the eradication of polio was held at CM Office on Monday, in which it was decided to continue anti-polio efforts along with effective monitoring of anti
Published 10 Dec, 2019 12:00am
Punjab government urged to restore Environment Council

Punjab government urged to restore Environment Council

The Environment Protection Department (EPD) Punjab has written to the Punjab government for restoration of Environment Council in order to tackle the environmental issues including smog by the province.
Published 10 Dec, 2019 12:00am
SBP urged to adopt 'drastic' pro-export policies
Money & Banking

SBP urged to adopt 'drastic' pro-export policies

The President Sialkot Chamber of Commerce and Industry (SCCI) Muhammad Asharaf Malik has urged the State Bank of Pakistan (SBP) to adopt "drastic" policies to facilitate the export sector of the country. This he stated in a video link communication with G
Published 10 Dec, 2019 12:00am
FIA terms sexually explicit videos fake

FIA terms sexually explicit videos fake

After examining the veracity of sexually explicit pictures and video of a girl apparently resembling TV anchor Fatima Sohail, the cyber crime wing of the Federal Investigation Agency (FIA) Lahore has termed these videos fake and recommended the Pakistan T
Published 10 Dec, 2019 12:00am
Parliamentary secretary seeks to justify increase in drug prices

Parliamentary secretary seeks to justify increase in drug prices

The National Assembly was informed on Monday that the government increased retail prices of medicines determined under hardship category by nine percent while prices of other drugs were raised by 15 percent over and above the existing maximum retail price
Published 10 Dec, 2019 12:00am
Askari Bank, UnionPay Int'l enter pact
Money & Banking

Askari Bank, UnionPay Int'l enter pact

Askari Bank Limited (AKBL) and UnionPay International (UPI) have entered into an agreement to convert AKBL existing mag stripe cards to UnionPay QuickPass (NFC) and EMV Chip Cards in Pakistan.
Published 10 Dec, 2019 12:00am
Packages Limited
Brief Recordings

Packages Limited

Packages Limited (PSX: PKGS) came into existence in 1957 as a result of a joint venture between Ali group of Pakistan and Akerlund and Rausing of Sweden, converting paper and paperboard into packaging for its customers. Since then, it has constantly been
Updated 10 Dec, 2019 10:52am
Miss South Africa wins 2019 Miss Universe crown

Miss South Africa wins 2019 Miss Universe crown

Miss South Africa was crowned Miss Universe on Sunday in Atlanta after a lavish ceremony filled with glitter and heartfelt speeches about female empowerment.
Published 10 Dec, 2019 12:00am
Putin, Zelensky meet in Paris push to end Ukraine war

Putin, Zelensky meet in Paris push to end Ukraine war

Russian leader Vladimir Putin on Monday met Ukranian counterpart Volodymyr Zelensky for the first time ever at a Paris summit aimed at agreeing measures to help end five years of conflict in the east of Ukraine.
Published 10 Dec, 2019 12:00am
4.5 magnitude earthquake hits Tuscany, no victims

4.5 magnitude earthquake hits Tuscany, no victims

A 4.5 magnitude earthquake hit the central Italian region of Mugello on Monday, sending panicked residents into the streets but causing minimal damage to buildings.
Published 10 Dec, 2019 12:00am
Luxembourg urges EU debate on Palestine recognition

Luxembourg urges EU debate on Palestine recognition

Luxembourg on Monday asked for an EU-level debate on recognising Palestinian statehood, securing a promise that EU foreign ministers would "deeply discuss" the Middle East in January. In a note to the new EU diplomatic chief Josep Borrell, who took office
Published 10 Dec, 2019 12:00am
Eight still missing in NZ volcano eruption

Eight still missing in NZ volcano eruption

Eight people were still missing after a volcanic eruption in New Zealand, with no indications they survived the explosion that has already left five dead, police said Tuesday.
Published 10 Dec, 2019 12:00am
NASA says core stage of next Moon rocket now ready

NASA says core stage of next Moon rocket now ready

NASA has completed the giant rocket that will take US astronauts back to the Moon, the space agency's head announced Monday, pledging the mission would take place in 2024 despite being beset by delays.
Published 10 Dec, 2019 12:00am
US, Mexico agree to USMCA labor law guarantees

US, Mexico agree to USMCA labor law guarantees

US and Mexican trade negotiators have reached a deal making changes to labor enforcement under a new continent-wide trade agreement, Fox Business reported Monday.
Published 10 Dec, 2019 12:00am
Rockets hit Iraq military complex housing US forces

Rockets hit Iraq military complex housing US forces

Several rockets slammed into an Iraqi military complex that hosts US forces next to Baghdad International Airport on Monday, wounding six Iraqi troops, the military said.
Published 10 Dec, 2019 12:00am
'Old man' Trump is 'bluffing' says North Korea: KCNA

'Old man' Trump is 'bluffing' says North Korea: KCNA

North Korea on Monday accused US President Trump of "bluffing" and called him "an old man bereft of patience" as Pyongyang ramps up pressure on Washington over stalled nuclear talks.
Published 10 Dec, 2019 12:00am
Work to begin on EU 'Magnitsky Act'

Work to begin on EU 'Magnitsky Act'

The EU on Monday agreed to start work on a sanctions framework to punish human rights abusers anywhere in the world, along the lines of the US Magnitsky Act.
Published 10 Dec, 2019 12:00am
Australians' faith in government hits record low

Australians' faith in government hits record low

Australians have less trust in government than at any point on record and are more worried about climate change, according to a wide-ranging study of voter attitudes released Monday.
Published 10 Dec, 2019 12:00am
US officials painted 'rosy' picture of Afghanistan despite evidence

US officials painted 'rosy' picture of Afghanistan despite evidence

Senior US officials insisted that progress was being made in Afghanistan despite clear evidence the war there had become unwinnable, The Washington Post reported on Monday after obtaining thousands of US government documents on the conflict.
Published 10 Dec, 2019 12:00am
Turkish lira weakens
Money & Banking

Turkish lira weakens

Turkey's lira declined some 0.5% against the dollar on Monday, ahead of an expected rate cut from the central bank this week and as tensions fester over Ankara's purchase of Russian defence equipment and disputes in the eastern Mediterranean.
Published 10 Dec, 2019 12:00am
Dollar bolstered by jobs data in Asia
Money & Banking

Dollar bolstered by jobs data in Asia

The dollar held firm on Monday after data showed surprise strength in the US jobs market, but the currency was restrained from moving higher by worries about an escalation in the US-China trade war. The dollar index stood almost flat at 97.706 in mid-Asia
Published 10 Dec, 2019 12:00am
Dollar up against trade-sensitive units in Europe
Money & Banking

Dollar up against trade-sensitive units in Europe

The dollar firmed against trade-sensitive currencies on Monday with worries about US-China trade tensions resurfacing as a key deadline loomed large, while Britain's pound strengthened on the latest polls ahead of this week's election.
Published 10 Dec, 2019 12:00am
South Africa's rand down
Money & Banking

South Africa's rand down

South Africa's rand weakened on Monday, pressed lower by weak Chinese export data that dented risk appetite and a fifth straight day of nationwide power cuts by utility Eskom as heavy rains and flooding caused failures at multiple power plants. At 1630 GM
Published 10 Dec, 2019 12:00am
Most Asian currencies range-bound
Money & Banking

Most Asian currencies range-bound

Most Asian currencies remained range-bound on Monday, as investors awaited trade talk developments ahead of the scheduled implementation of new tariffs by the United States on Chinese imports. The United States is set to impose a new round of trade tariff
Published 10 Dec, 2019 12:00am
Sri Lankan rupee steady
Money & Banking

Sri Lankan rupee steady

Sri Lankan rupee ended steady at 181.10/30 per dollar on Monday, Refinitiv data showed. It is up 0.8% so far this year. Foreign investors were sellers on Monday in the equity market for the 28th session out of the last 31.
Published 10 Dec, 2019 12:00am
Forint underperforms
Money & Banking

Forint underperforms

The Hungarian forint fell 0.3% versus the euro on Monday, giving back some of its early-December gains, as central Europe's worst-performing currency continued to seesaw between record lows and slightly stronger levels.
Published 10 Dec, 2019 12:00am
Sterling climbs against dollar, euro
Money & Banking

Sterling climbs against dollar, euro

Sterling hit a seven-month high against the dollar and a 2-1/2 year peak versus the euro on Monday after fresh polls showed British Prime Minister Boris Johnson's Conservative Party has extended its lead in opinion polls before Thursday's election.
Published 10 Dec, 2019 12:00am