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Print - 2019-12-11
Agriculture sector to be given Rs 100 billion subsidy

Agriculture sector to be given Rs 100 billion subsidy

The federal cabinet has decided to provide Rs 100 billion subsidy to agriculture sector to ameliorate the sufferings of farmers, besides issuing directives for uninterrupted gas supply to domestic consumers in winter.
Published 11 Dec, 2019 12:00am
US blacklists Rao Anwar

US blacklists Rao Anwar

The United States on Tuesday blacklisted former Malir senior superintendent of police (SSP) Rao Anwar for engaging in "serious human rights abuse" by carrying out alleged fake police 'encounters' in which scores of individuals including Waziristan native
Published 11 Dec, 2019 12:00am
WTO chief 'very hopeful' for 2020 deals after appeals body dies

WTO chief 'very hopeful' for 2020 deals after appeals body dies

The head of the World Trade Organi-zation said on Tuesday he was "very hopeful" that WTO members could conclude by mid-2020 talks on cutting fishing subsidies, seen by many as essential for the Geneva-based body to remain relevant, among other deals. Spea
Published 11 Dec, 2019 12:00am
US panel eyes sanctions for Amit Shah

US panel eyes sanctions for Amit Shah

A federal panel on religion has urged the United States to weigh sanctions against India's Home Minister Amit Shah if the south Asian nation adopts legislation to exclude Muslims from a path to citizenship for religious minorities from its neighbours.
Published 11 Dec, 2019 12:00am
Imran condemns passage of bill

Imran condemns passage of bill

Prime Minister Imran Khan on Tuesday strongly condemned the passing of Citizenship Amendment Bill by Indian Lok Sabha, saying the legislation was a violation of international human rights law and bilateral agreements with Pakistan.
Published 11 Dec, 2019 12:00am
Lok Sabha passes nationality bill

Lok Sabha passes nationality bill

Protestors in northeast India set fire to tyres and cut down trees to block roads on Tuesday in a shutdown across the region hours after lawmakers approved the government's new citizenship bill. The legislation, set to go before the upper house on Wednesd
Published 11 Dec, 2019 12:00am
High treason case: LHC asks law officer to assist it on key point

High treason case: LHC asks law officer to assist it on key point

The Lahore High Court on Tuesday directed law officer to assist the court on the point whether the act of former military ruler Gen. Pervez Musharaf (retd) to impose emergency on November 03, 2007 amounted to abrogation of Constitution. The court also ask
Published 11 Dec, 2019 12:00am
FBR arm issued refunds sans verification: AGP

FBR arm issued refunds sans verification: AGP

The Auditor General of Pakistan (AGP) has expressed serious concern over the issuance of huge amount of sales tax refunds without verification under Federal Board of Revenue's Expeditious Refund System (ERS) by the Centralized Sales Tax Refund Office (CST
Published 11 Dec, 2019 12:00am
Democrats unveil impeachment charges against Trump

Democrats unveil impeachment charges against Trump

Democrats in the House of Representatives announced formal charges against President Donald Trump on Tuesday that accuse him of abusing power and obstructing Congress, making him only the fourth US president in history to face impeachment.
Published 11 Dec, 2019 12:00am
Weekly SPI inflation down by 0.83pc

Weekly SPI inflation down by 0.83pc

The Sensitive Price Index (SPI) based inflation for combined income group during the week ended on December 5, 2019 has witnessed a reduction of 0.83 percent against November 28, 2019 as it came down from 131.87 points to 130.77 points, said data released
Published 11 Dec, 2019 12:00am
Licence, relocation: SBP amends ECs Manual

Licence, relocation: SBP amends ECs Manual

The State Bank of Pakistan (SBP) has amended the Exchange Companies Manual to bring clarity in the instructions related to license renewal time period and documents required for relocations of outlets.
Published 11 Dec, 2019 12:00am
Chile military plane crashes near Antarctic with 38 on board

Chile military plane crashes near Antarctic with 38 on board

Chile's Air Force on Tuesday said one of its cargo planes had crashed with 38 people on board after going missing in an isolated area between South America and the Antarctic, with the chance of finding survivors looking "difficult".
Published 11 Dec, 2019 12:00am
Remittances remain flat in first five months

Remittances remain flat in first five months

Inflows of home remittances were remained flat during the first five months of this fiscal year (FY20) as compared to corresponding period of last fiscal year (FY19).
Published 11 Dec, 2019 12:00am
Sindh PA demands third-party audit of census

Sindh PA demands third-party audit of census

The Sindh Assembly on Tuesday passed a resolution unanimously to seek a third-party audit of the country's five percent of the last census blocks, asking the Sindh Government to approach Federal government in this regard.
Published 11 Dec, 2019 12:00am
'Rising poverty'
Letters

'Rising poverty'

This is apropos a Business Recorder op-ed "Rising poverty" carried by the newspaper yesterday. The writer, Dr Hafiz A Pasha, in his conclusion, has argued that "The tragedy is that the incidence of poverty in Pakistan may be back to the level that
Updated 11 Dec, 2019 06:34am
FY19: FBR's dismal performance - II
Articles

FY19: FBR's dismal performance - II

Wholesale and retail trade sectors together paid Rs 48.2 billion: Large retail trade (Rs 7.9 billion), small retail trade (Rs 9.7 billion) and wholesale trade (Rs 25.1 billion).
Published 11 Dec, 2019 12:00am
Education challenge
Articles

Education challenge

It is time we declared education emergency in the country. In fact, we should have done this yesterday. An estimated 25 million of our schoolgoing children are out there on the streets or are already earning their keep for their families. Tragedy is, most
Updated 11 Dec, 2019 06:19am
US-Taliban talks

US-Taliban talks

It looks as if peace may finally tiptoe to Afghanistan. The US and the Taliban have resumed talks in Doha "from where they broke off". Their talks came to an abrupt end last September when the two sides appeared to be on the verge of signing a deal that w
Updated 11 Dec, 2019 06:55am
Impediments to growth

Impediments to growth

Addressing the Institute of Business Administration, Advisor to the Prime Minister on Finance, Dr Hafeez Sheikh, identified three challenges to the economy that are impeding growth: human development, reaching world markets and proper government policymak
Updated 11 Dec, 2019 06:55am
Shahbaz's project being inaugurated by PTI: Marriyum

Shahbaz's project being inaugurated by PTI: Marriyum

Reacting to electric run of Lahore's Orange Line Metro Train, Pakistan Muslim League-Nawaz (PML-N) Secretary Information Marriyum Aurangzeb said the incumbent government is stubbornly inaugurating Shahbaz Sharif's project. Marriyum Aurangzeb said Prime Mi
Published 11 Dec, 2019 12:00am
Fauji Foundation, KEPCO KPS sign MoU
Business & Economy

Fauji Foundation, KEPCO KPS sign MoU

Fauji Foundation (FF) and KEPCO Plant Service & Engineering Co Ltd (KEPCO KPS) signed a Memorandum of Understanding (MoU) which will enable parties to provide O&M services as third party contractor in Pakistan and abroad.
Published 11 Dec, 2019 12:00am
Khaqan accuses Qaiser of intentionally keeping jailed MPs away from NA

Khaqan accuses Qaiser of intentionally keeping jailed MPs away from NA

The jailed leader of Pakistan Muslim League-Nawaz (PML-N) Shahid Khaqan Abbasi on Tuesday left Speaker National Assembly Asad Qaisar red-faced for his alleged partisan approach in the house, accusing him of intentionally keeping the jailed MPs away from t
Published 11 Dec, 2019 12:00am
Buzdar hails revival of international Test cricket
Cricket

Buzdar hails revival of international Test cricket

Punjab Chief Minister Sardar Usman Buzdar on Tuesday welcomed revival of international test cricket in Pakistan in the wake of the arrival of Sri Lankan cricket team. "We are thankful to Sri Lankan players and their management for coming to Pakistan to pl
Published 11 Dec, 2019 12:00am
PIA, Jazz sign MoU
Business & Economy

PIA, Jazz sign MoU

Pakistan International Airlines (PIA) and Jazz have signed a MoU to facilitate passengers of the airline and PIA employees. According to the MoU, Jazz, Pakistan's leading digital communications Company, is seeking to provide PIA the services of an e-ticke
Published 11 Dec, 2019 12:00am
Track & trace system: FBR fails to submit report before IHC
Taxes

Track & trace system: FBR fails to submit report before IHC

Federal Board of Revenue (FBR) Tuesday failed to submit the requisite report before the Islamabad High Court (IHC) on the grant of license of track and trace system for tobacco products to the M/s Radio & Telecommunication Corporation (NRTC). It is learnt
Published 11 Dec, 2019 12:00am
Rs six billion scam: SC acquits NICL ex-chief and co-accused

Rs six billion scam: SC acquits NICL ex-chief and co-accused

The apex court Tuesday acquitted former chairman of National Insurance Company Limited (NICL) Ayaz Khan Niazi and all the co-accused in the Rs 6 billion corruption scam. Hur Rihai Gardezi, Amin Qasim Dada, Ameer Hussain and Muhammad Zahoor were the co-acc
Published 11 Dec, 2019 12:00am
Tyres' import declines from 5 million to 2.4 million
Business & Economy

Tyres' import declines from 5 million to 2.4 million

The import of automotive tyres has declined to 2.4 million in 2018-19 from 5 million in 2017-18 mainly due to increase in the duty and taxes. According to the industry sources, the government raised duties in 2017-18 to help local industries grow and this
Published 11 Dec, 2019 12:00am
JazzCash's base stands at 7 million users
Telecommunication

JazzCash's base stands at 7 million users

Emerging as the market leader for the third consecutive year, JazzCash proudly announces an active base that now stands at over 7 million users. JazzCash is fast becoming the most popular and trusted digital financial services brand in Pakistan. Transacti
Published 11 Dec, 2019 12:00am
FPCCI urges govt to implement food security policy
Business & Economy

FPCCI urges govt to implement food security policy

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Engr Daroo Khan Achakzai Tuesday urged the government to implement the national food security policy which was announced in 2018 and also increase investment in agriculture researc
Published 11 Dec, 2019 12:00am
Governor inaugurates 'Kamyab Jawan Programme' at MUET

Governor inaugurates 'Kamyab Jawan Programme' at MUET

Sindh Governor Imran Ismail on Tuesday inaugurated "Kamyab Jawan Programme" at Mehran University of Engineering and Technology (MUET), Jamshoro to create jobs and develop a national startup ecosystem that provides one million young people training in entr
Published 11 Dec, 2019 12:00am
Locusts' attacks: SHC issues notices to federal, Sindh governments

Locusts' attacks: SHC issues notices to federal, Sindh governments

Sindh High Court (SHC) on Tuesday issued notices to Federal and Sindh Governments in a petition pertaining to swarming of the various districts of the provinces by locusts. A division bench of the SHC headed by Justice Muhammad Ali Mazhar ordered the auth
Published 11 Dec, 2019 12:00am
PTCL hosts 'Digital Learning Hackathon 2019'
Telecommunication

PTCL hosts 'Digital Learning Hackathon 2019'

Pakistan Telecommunication Company Limited (PTCL) proudly hosts its first ever 'Digital Learning Hackathon 2019', at a special event organized at PTCL Academy in Islamabad. The initiative is launched to enhance capacity building of PTCL employees through
Published 11 Dec, 2019 12:00am
Country receives $1.3 billion loan from ADB
Money & Banking

Country receives $1.3 billion loan from ADB

Pakistan has received some $ 1.3 billion from Asian Development Bank (ADB) as loan to strengthen the economy. A Special Policy-Based loan was approved by ADB on December 6, 2019 for Pakistan for budgetary support and economic reforms. Accordingly, on Dece
Published 11 Dec, 2019 12:00am
IoK issue to take a decisive turn in 2-3 months, claims AJK PM

IoK issue to take a decisive turn in 2-3 months, claims AJK PM

Azad Jammu and Kashmir (AJ&K) Prime Minister Raja Farooq Haider Khan Tuesday claimed that next two to three months would be decisive for the solution of the decades-long issue of Kashmir. He declared that not a single Kashmiri would support India, which i
Published 11 Dec, 2019 12:00am
SCCI, SMEDA to set up business facilitation centre
Business & Economy

SCCI, SMEDA to set up business facilitation centre

The Sarhad Chamber of Commerce and Industry (SCCI), and Small and Medium Enterprises Development Authority (SMEDA) have expedited their efforts to establish a proposed Business Facilitation Centre with an object to resolve business community issues and br
Published 11 Dec, 2019 12:00am
PML-N terms OLMT gift of Shahbaz for Lahore

PML-N terms OLMT gift of Shahbaz for Lahore

Spokesperson of Pakistan Muslim League-Nawaz (PML-N) Uzma Bukhari said on Tuesday the Orange Line Metro Train (OLMT) project is a gift of Shahbaz Sharif to the people of Lahore. She said the decision of not attending the inaugural ceremony by Chief Minist
Published 11 Dec, 2019 12:00am
Situation termed alarming, dangerous for media freedom

Situation termed alarming, dangerous for media freedom

A joint meeting of Pakistan Federal Union of Journalists (PFUJ), Human Rights Commission of Pakistan (HRCP), All Pakistan Newspapers Society (APNS), Council of Pakistan Newspaper Editors (CPNE), Pakistan Broadcasters Association (PBA) and Pakistan Bar Cou
Published 11 Dec, 2019 12:00am
NBFCs: SECP issues qualified capital, terms and conditions
Stocks

NBFCs: SECP issues qualified capital, terms and conditions

The Securities and Exchange Commission of Pakistan (SECP) has issued the qualified capital and its terms and conditions for the Non-Banking Finance Companies (NBFCs) engaged exclusively in the business of issuance of guarantees to enhance the quality of d
Published 11 Dec, 2019 12:00am
Rain, thunderstorm forecast for today

Rain, thunderstorm forecast for today

Rain with wind/thunderstorm is predicted in the country from today to Friday, which may affect the first cricket test match between Pakistan and Sri Lanka.
Published 11 Dec, 2019 12:00am
PAD invites applications from canola growers
Commodities

PAD invites applications from canola growers

The Punjab Agriculture Department (PAD) has invited applications from the canola growers of the province to take part in the competition for achieving maximum yield per acre under the national project of edible oil crops. Those who are aspirant to compete
Published 11 Dec, 2019 12:00am
PESSI's facilitation centre set up at LCCI
Business & Economy

PESSI's facilitation centre set up at LCCI

After inauguration of Punjab Employees Social Security Institution (PESSI) facilitation center on Tuesday, the Lahore Chamber of Commerce and Industry (LCCI) has become the first chamber having 10 facilitation centers for its members.
Published 11 Dec, 2019 12:00am
Post-arrest bail of Miftah: IHC grants time to NAB

Post-arrest bail of Miftah: IHC grants time to NAB

The Islamabad High Court (IHC) Tuesday granted time to National Accountability Bureau (NAB) to submit its reply in a petition seeking post-arrest bail of former finance minister Miftah Ismail.
Published 11 Dec, 2019 12:00am
Solidarity expressed with oppressed Kashmiris

Solidarity expressed with oppressed Kashmiris

Provincial Information & Culture Minister Fayyaz-ul-Hassan Chohan while expressing solidarity with the oppressed Kashmiri people on the eve of Human Rights Day said that Kashmiris facing oppression for the last four months by Modi government is highly reg
Published 11 Dec, 2019 12:00am
Qureshi off to Saudi Arabia

Qureshi off to Saudi Arabia

Foreign Minister Shah Mehmood Qureshi left Turkey for Saudi Arabia on Tuesday to hold talks with Saudi leadership on issues of mutual interest and regional situation, Foreign Office said. In a one day short visit to the Kingdom, the foreign minister will
Published 11 Dec, 2019 12:00am
Punjab government to conduct audit of projects
Business & Economy

Punjab government to conduct audit of projects

The PTI-led Punjab government has decided to conduct audit of projects initiated during the tenure of incumbent government, it has been learnt. The sources claimed that audit will be launched from next year. Action will be taken against the irregularities
Published 11 Dec, 2019 12:00am
Panel voices concern over reduction in HEC budget

Panel voices concern over reduction in HEC budget

Expressing serious concerns over the curtailment of budget for Higher Education Commission (HEC) by the federal government, a parliamentary panel Tuesday said that this step has created serious challenges for the Pakistani students studying abroad and loc
Published 11 Dec, 2019 12:00am
Qureshi seeks urgent steps to stop HR violations in IHK

Qureshi seeks urgent steps to stop HR violations in IHK

Foreign Minister Shah Mehmood Qureshi has urged international community to take urgent steps to stop human rights violations and crimes against humanity in the Indian-occupied Jammu and Kashmir.
Published 11 Dec, 2019 12:00am
Gwadar Port Civic Centre Project: AGP concerned at irregularities

Gwadar Port Civic Centre Project: AGP concerned at irregularities

Auditor General of Pakistan (AGP) has shown concerns over irregularities, violation of rules and other malpractice, which caused delay in completion of Gwadar Port Civic Centre Project and inflicted Rs 70 billion loss on national exchequer.
Published 11 Dec, 2019 12:00am
AGP highlights irregularities in PCB's appointments
Cricket

AGP highlights irregularities in PCB's appointments

The Auditor General of Pakistan (AGP) has pointed out irregularities in appointments in Pakistan Cricket Board (PCB), inefficiency of management, non-recovery of receivables as well as loss of its land due to illegal occupation, which caused billions of r
Published 11 Dec, 2019 12:00am
NayaPay (Pvt) Ltd certified as ISO/IEC 27001
Companies

NayaPay (Pvt) Ltd certified as ISO/IEC 27001

NayaPay (Pvt) Limited has now been certified as ISO/IEC 27001 compliant by SGS - a leading ISO certifying agency, facilitating Pakistanis to open e-money wallet accounts for making digital transactions convenient.
Published 11 Dec, 2019 12:00am
Significance of human rights in Islam highlighted

Significance of human rights in Islam highlighted

"Islam has provided the best charter of human rights for the human race who is and will be living across the globe. It makes mandatory to ensure respect of not only the human beings but also of all other living creatures," said Deputy Commissioner Dr Nasi
Published 11 Dec, 2019 12:00am
Byco Petroleum Pakistan Limited
Brief Recordings

Byco Petroleum Pakistan Limited

Part of the downstream oil and gas sector, Byco Group was formed in January 1995. Its first refinery began operations in 2004 with a capacity of 30,000 barrels of oil per day as Hub Balochistan, and began commercial production of liquefied petroleum gas,
Updated 11 Dec, 2019 06:51am
Suu Kyi told to 'stop the genocide' in UN court

Suu Kyi told to 'stop the genocide' in UN court

Nobel peace laureate Aung San Suu Kyi faced calls for Myanmar to "stop the genocide" of Rohingya Muslims as she personally led her country's defence at the UN's top court on Tuesday.
Published 11 Dec, 2019 12:00am
Ex-Moscow mayor Luzhkov, populist heavyweight, dies

Ex-Moscow mayor Luzhkov, populist heavyweight, dies

Former Moscow Mayor Yury Luzhkov, a political heavyweight who transformed Russia's capital but was dogged by corruption claims, has died aged 83, the current mayor said Tuesday.
Published 11 Dec, 2019 12:00am
Co-inventor of barcode dies

Co-inventor of barcode dies

US engineer George J. Laurer, who co-invented the barcode and helped to transform the retail world in the 1970s, has died at age 94.
Published 11 Dec, 2019 12:00am
Roxette singer dies aged 61

Roxette singer dies aged 61

The lead singer of Swedish pop duo Roxette, Marie Fredriksson, who shot to global fame in the 1990s with hits like "It must have been love", has died aged 61 after a long fight with cancer, her manager said Tuesday.
Published 11 Dec, 2019 12:00am
US, China working to delay Dec 15 tariffs

US, China working to delay Dec 15 tariffs

US and Chinese officials are working on a deal to postpone a round of tariffs set to hit Chinese imports in five days, according to a media report on Tuesday.
Published 11 Dec, 2019 12:00am
Solving climate crisis requires leadership: Bloomberg

Solving climate crisis requires leadership: Bloomberg

The world does not need a miracle to tame global warming, just leadership, American presidential hopeful Michael Bloomberg told UN climate talks in Madrid on Tuesday, calling for an end to government handouts to oil, gas and coal companies.
Published 11 Dec, 2019 12:00am
Qatar emir skips Riyadh summit despite thawing ties

Qatar emir skips Riyadh summit despite thawing ties

Qatar's emir skipped a Gulf summit in Riyadh on Tuesday that had been pilled as a potential "reconciliation conference" amid signs of a thaw between Doha and a Saudi-led bloc.
Published 11 Dec, 2019 12:00am
Two Algerian ex-PMs get heavy jail terms for corruption

Two Algerian ex-PMs get heavy jail terms for corruption

An Algerian court sentenced two former prime ministers to long jail terms Tuesday in the first of a series of high-profile corruption trials launched after longtime president Abdelaziz Bouteflika resigned in the face of mass protests in April.
Published 11 Dec, 2019 12:00am
World's youngest PM takes office in Finland

World's youngest PM takes office in Finland

Finland's Sanna Marin, 34, was officially appointed as the country's prime minister on Tuesday, becoming the world's youngest sitting head of government.
Published 11 Dec, 2019 12:00am
US, Saudi Arabia rank bottom of climate class

US, Saudi Arabia rank bottom of climate class

The United States and Saudi Arabia are among major polluters showing "hardly any signs" of reducing their greenhouse gas production, a global assessment of countries' emissions trajectories said Tuesday at United Nations climate talks.
Published 11 Dec, 2019 12:00am
Ivory Coast cocoa farmers worry over rising heat
Commodities

Ivory Coast cocoa farmers worry over rising heat

Mainly below average rains last week in most of Ivory Coast's cocoa regions had farmers worried about the rising heat, despite a good soil moisture content, farmers said on Monday. Ivory Coast, the world's top cocoa producer, is now in the dry season, whi
Published 11 Dec, 2019 12:00am
PMEX daily trading report

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,282. The traded value of Metals, Energy and COTS/FX was recorded at PKR 2.701 billion and the number of lots traded was 4,191.
Published 11 Dec, 2019 12:00am
Paris wheat futures little changed
Commodities

Paris wheat futures little changed

Paris wheat futures were little changed on Monday as traders awaited direction from US government crop data while physical prices in Europe were generally firm on steady export demand. March milling wheat, the most active contract on the Paris-based Euron
Published 11 Dec, 2019 12:00am
Canadian canola futures rise
Commodities

Canadian canola futures rise

ICE Canadian canola futures rose on Monday for a third straight session, boosted by gains in soyaoil and palm oil. Canola is also helped by Friday's Statistics Canada report that estimated a much smaller Canadian canola harvest than expected, although dim
Published 11 Dec, 2019 12:00am
US natural gas futures fall on less heating demand
Energy

US natural gas futures fall on less heating demand

US natural gas futures fell 5% on Monday on forecasts for less cold weather and heating demand through late December than previously expected. Meteorologists now forecast the weather over the US Lower 48 states will fluctuate from warmer to colder than no
Published 11 Dec, 2019 12:00am
Activities at Karachi and Port Qasim
Business & Economy

Activities at Karachi and Port Qasim

The Karachi Port handled 158,716 tonnes of cargo comprising 106,804 tonnes of import cargo and 51,912 tonnes of export cargo including 8,740 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.
Published 11 Dec, 2019 12:00am
Cautious buying seen on cotton market
Cotton & Textile

Cautious buying seen on cotton market

Cautious buying was witnessed on the cotton market on Tuesday owing to acute shortage of quality lint, dealers said. The official spot rate maintained overnight level Rs8800, they added. In ready session, about 10,000 bales of cotton changed hands between
Published 11 Dec, 2019 12:00am
Russian wheat prices rise on strong demand
Commodities

Russian wheat prices rise on strong demand

Russian wheat prices rose for a fourth consecutive week through Friday thanks to strong demand from exporters and stockpiling by domestic processors before the market quietens down in late December and early January, analysts said. Egypt's state grain buy
Published 11 Dec, 2019 12:00am