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Print - 2020-03-11
US begins military pullout from two Afghan bases

US begins military pullout from two Afghan bases

American forces have started pulling out of two bases in Afghanistan, a US official said Tuesday, the day peace talks between Kabul and the Taliban were due to start despite widespread violence and a political crisis.
Published 11 Mar, 2020 12:00am
Tax Laws 'amendment' bill rejected

Tax Laws 'amendment' bill rejected

The Senate Standing Committee on Finance on Tuesday unanimously rejected Tax Laws (First Amendment) Bill 2019, declaring that the bill does not fall within the purview of the "money bill". The Senate Standing Committee on Finance, Revenue and Economic Aff
Published 11 Mar, 2020 12:00am
PM for reducing petrol prices

PM for reducing petrol prices

Prime Minister Imran Khan on Tuesday directed the relevant departments to enhance mutual coordination and forge a practicable and comprehensive strategy to "reduce petroleum prices as much as possible," while blaming the previous governments of mismanagem
Published 11 Mar, 2020 12:00am
Data4Pakistan portal launched

Data4Pakistan portal launched

Prime Minister Imran Khan on Tuesday blamed the previous governments for poverty in Pakistan saying the misplaced priorities of those in power in the past were being corrected by his government to "weed out poverty from the entire country."
Published 11 Mar, 2020 12:00am
Tax shortfall could lead to curtailment of uplift expenditures

Tax shortfall could lead to curtailment of uplift expenditures

The shortfall in achievement of revenue target of the Federal Board of Revenue (FBR) for 2019-20 will have adverse consequences for the projected fiscal position of the government including curtailment in development expenditures.
Published 11 Mar, 2020 12:00am
Mid-year budget review report:' 2H imposes certain risks, challenges

Mid-year budget review report:' 2H imposes certain risks, challenges

The Finance Division has identified several risks including substantial shortfall in tax revenue, unexpected volatility in exchange rate and circular debt in energy sector, and financing of fiscal deficit in achieving fiscal sustainability, which can comp
Published 11 Mar, 2020 12:00am
KSE-100 Index rebounds: BRIndex100 retreats
Stocks

KSE-100 Index rebounds: BRIndex100 retreats

Pakistan Stock Exchange Tuesday rebounded. Although the market dipped again after positive opening, however it turned bullish and remained in the positive territory and closed in green zone with healthy gains. BRIndex100 gained 68.81 points or 1.79 percen
Published 11 Mar, 2020 12:00am
Saudi Arabia, Russia raise stakes in oil standoff

Saudi Arabia, Russia raise stakes in oil standoff

Saudi Arabia will raise its crude supply to a record high in April, the kingdom announced on Tuesday, as it ratcheted up a standoff with Moscow over market share and appeared to reject Russian overtures for new talks. The clash of oil titans Saudi Arabia
Published 11 Mar, 2020 12:00am
Rules being amended to facilitate upstream petroleum sector

Rules being amended to facilitate upstream petroleum sector

The Economic Coordination Committee (ECC) of the Cabinet is all set to approve two amendments to the Petroleum (Exploration and Production) Rules, 2013 aimed at facilitating upstream petroleum sector. Sharing the details, sources in Petroleum Division tol
Published 11 Mar, 2020 12:00am
Issuance of second energy sukuk being planned

Issuance of second energy sukuk being planned

Power Division is likely to rebid for Pakistan Energy Sukuk (PES) -II of Rs 200 billion after eyebrows were raised by some of the stakeholders on the price being offered by a consortium of Islamic banks, well-informed sources in Finance Division told B
Published 11 Mar, 2020 12:00am
Xi pays first visit to virus epicentre Wuhan

Xi pays first visit to virus epicentre Wuhan

Chinese President Xi Jinping visited Wuhan Tuesday for the first time since the city emerged as the epicentre of the coronavirus epidemic as authorities loosened travel curbs in its surrounding province - signalling confidence that the outbreak is under c
Published 11 Mar, 2020 12:00am
PSL matches to be held in Karachi as per schedule

PSL matches to be held in Karachi as per schedule

Sindh Chief Minister Syed Murad Ali Shah has said that in Sindh so far 15 cases of coronavirus have been diagnosed as positive and all the cases are imported and none of them is indigenous. Sindh Chief Minister Syed Murad Ali Shah also announced that the
Published 11 Mar, 2020 12:00am
First case surfaces in Quetta

First case surfaces in Quetta

First case of COVID-19, the mysterious viral pneumonia-like disease caused by the novel coronavirus, has emerged in the Quetta on Tuesday, pushing the countrywide tally to 19, Aaj news reported. The 12-year-old patient had arrived in Quetta along with his
Published 11 Mar, 2020 12:00am
Italy in coronavirus lockdown

Italy in coronavirus lockdown

Shops and restaurants closed, hundreds of flights were cancelled and streets emptied across Italy on Tuesday, the first day of an unprecedented, nationwide lockdown imposed to slow Europe's worst outbreak of coronavirus.
Published 11 Mar, 2020 12:00am
ICSID award: Government steps up efforts to obtain stay on enforcement

ICSID award: Government steps up efforts to obtain stay on enforcement

The federal government is seeking out all avenues that Pakistan is granted a stay on enforcement of the International Centre for Settlement of Investment Disputes (ICSID) Award, during the pendency of the annulment proceedings, said the statement issued b
Published 11 Mar, 2020 12:00am
Amount deposited by BTLK belongs to people of Sindh: AGP

Amount deposited by BTLK belongs to people of Sindh: AGP

The federal government on Tuesday proposed the setting up of a committee to spend of money received from Bahria Town (Pvt) Limited, Karachi (BTLK) in view of the Supreme Court's proceedings, on development projects in Sindh.
Published 11 Mar, 2020 12:00am
Economic landscape: Dawood identifies areas needing serious attention

Economic landscape: Dawood identifies areas needing serious attention

Pakistan's economy faced a lot of challenges in terms of fiscal and current account deficits and required serious steps in terms of devaluation, control on imports and government expenditures, said Advisor to the Prime Minister on Commerce, Industry and I
Published 11 Mar, 2020 12:00am
Shabbar won't resume work?

Shabbar won't resume work?

Federal Board of Revenue (FBR) Chairman Shabbar Zaidi is said to have conveyed to the high-ups in the Ministry of Finance that he will not be able to resume duty as FBR chairman due to health issues. It is learnt that Shabbar Zaidi, however, has not yet t
Published 11 Mar, 2020 12:00am
Seven PML-N, one PPP legislators meet Buzdar

Seven PML-N, one PPP legislators meet Buzdar

Punjab Chief Minister Sardar Usman Buzdar has again started efforts for appeasing the legislators of opposition - as seven PML-N MPAs and one PPP MPA - met him and discussed political situation, issues concerning their constituencies and other matters of
Published 11 Mar, 2020 12:00am
'Women on the march'
Letters

'Women on the march'

This is apropos a Business Recorder op-ed "Women on the march" carried by the newspaper yesterday. In my view, the writer, Rashed Rahman, has highlighted the cause of woman emancipation in a highly effective and meaningful manner. His is the most p
Published 11 Mar, 2020 12:00am
US sanctions have idled a quarter of Iranian oil rigs
Articles

US sanctions have idled a quarter of Iranian oil rigs

At least a quarter of Iran's oil rigs are out of action as US sanctions strangle the Islamic Republic's vital oil industry, according to a Reuters review of financial documents and industry sources, dealing a potentially long-term blow to its oil industry
Published 11 Mar, 2020 12:00am
Don't sell family silver to foreigners
Articles

Don't sell family silver to foreigners

During the current year, two RLNG power plants, SME Bank, Services International Hotel, Jinnah Convention Centre, Islamabad and 27 other state-owned properties are being planned to be privatized.
Published 11 Mar, 2020 12:00am
Women's Day celebrations

Women's Day celebrations

Despite threats by certain religious groups to stop this year's Aurat March, the International Women's Day was celebrated with greater enthusiasm than the last year. Various women's organisations, civil society groups and political parties held rallies an
Updated 12 Mar, 2020 06:19am
'Black Monday'

'Black Monday'

International oil prices plummeted subsequent to Russia's refusal to decrease output to jack up the prices as proposed by Saudi Arabia during Oil and Petroleum Exporting Countries (OPEC) meeting with Russia. Brent fell by 7 percent dropping to the lowest
Updated 12 Mar, 2020 06:19am
Punjab prepared to tackle with coronavirus: minister

Punjab prepared to tackle with coronavirus: minister

Information Minister Punjab Fayyaz-ul-Hassan Chohan said on Tuesday that they need to act beyond political point-scoring and personal interests in fight against Coronavirus. While addressing a press conference on Corona awareness campaign being run by the
Published 11 Mar, 2020 12:00am
PM's remarks on Reko Diq criticized

PM's remarks on Reko Diq criticized

The allies of the ruling Pakistan Tehreek-e-Insaf (PTI) on Tuesday came down hard on Prime Minister Imran Khan for his statement that the assets of Reko Diq would be sold out to pay off the loans borrowed by the country. The issue was first raised by Asla
Published 11 Mar, 2020 12:00am
PML-N leaders urge Shahbaz to play role in country's politics

PML-N leaders urge Shahbaz to play role in country's politics

The senior leadership of the Pakistan Muslim League-Nawaz (PML-N) on Tuesday urged party president and Leader of Opposition in the National Assembly Shahbaz Sharif to return to the country from London and to lead the party into a protest mode against the
Published 11 Mar, 2020 12:00am
'Opposition parties may move privilege motion against Qasim Suri

'Opposition parties may move privilege motion against Qasim Suri

The opposition political parties on Tuesday said that a joint opposition could move a breach of privilege motion against National Assembly Deputy Speaker Qasim Suri on breach of the house for not taking business on private members' day.
Published 11 Mar, 2020 12:00am
Nawaz's physician Dr Adnan attacked in London

Nawaz's physician Dr Adnan attacked in London

Personal physician of Pakistan Muslim League-Nawaz (PML-N), Dr Adnan was attacked in London on Tuesday. The injured doctor sustained injuries on head, face and chest and was shifted to a hospital. According to reports, Dr Adnan was going out for the daily
Published 11 Mar, 2020 12:00am
Talpur's bank accounts case: Court reserves judgment till March 20

Talpur's bank accounts case: Court reserves judgment till March 20

The Accountability Court hearing multi-billion-rupee fake bank accounts case on Tuesday fixed March 20th for announcement of its reserved judgment with respect to former president Asif Ali Zardari's sister Faryal Talpur's plea to unfreeze her bank account
Published 11 Mar, 2020 12:00am
KE compliant with prescribed laws, directives
Energy

KE compliant with prescribed laws, directives

KE refutes the misconception prevailing in the market as the power utility ensures compliance with prescribed laws and regulations and follows due process, seeking clarity wherever applicable on implementation of directives from relevant authorities.
Published 11 Mar, 2020 12:00am
Tri-Angles invests $3.3m in TV, AC production
Business & Economy

Tri-Angles invests $3.3m in TV, AC production

Tri-Angles Electronics has invested some $3.3 million during last two years for manufacturing and assembling of Hisense LED TV and Air Conditioners (AC) in Pakistan. Hisense is one of the leading brands in China with exports to over 130 countries. Tri-Ang
Published 11 Mar, 2020 12:00am
SHC CJ for implementing biometric system

SHC CJ for implementing biometric system

Chief Justice of Sindh High Court (SHC) on Tuesday directed all the officers/officials of the court to make their attendance via face recognition of biometric system. The measure has been taken to prevent spread of prevailing outbreak of coronavirus, a ci
Published 11 Mar, 2020 12:00am
PTCL celebrates 'Women's Day'

PTCL celebrates 'Women's Day'

In line with the tradition of celebrating International Women's Day, Pakistan Telecommunication Company Limited (PTCL), organized a series of events with great fervor across Pakistan including Islamabad, Lahore, Quetta, Faisalabad, Peshawar and Karachi. T
Published 11 Mar, 2020 12:00am
Women's Day: NBP pledges to empower more women

Women's Day: NBP pledges to empower more women

An increase in participation of female work force in a holistic environment in which women can translate their ideas will contribute to higher economic growth,' said Asma Shaikh, SEVP/Group Chief, HRMG, while addressing a large gathering of female employe
Published 11 Mar, 2020 12:00am
Pantera Energy, Shahkam Industries sign MoU
Energy

Pantera Energy, Shahkam Industries sign MoU

In a landmark development, Pantera Energy, a leading solar energy equipment and solution provider signed a Memorandum of Understanding with Shahkam Industries to provide 3.32 MW rooftop Solar Power plant. The power plant will be installed and made operati
Published 11 Mar, 2020 12:00am
SRB likely to miss annual revenue target
Taxes

SRB likely to miss annual revenue target

Sindh Revenue Board (SRB) is going to miss its annual budgetary revenue target for fiscal year 2019-20. This was stated by Khalid Mehmood, chairman of SRB, at a meeting with businessmen held at the Karachi Chamber of Commerce and Industry (KCCI) here on T
Published 11 Mar, 2020 12:00am
Appointments of 15 SAPM: IHC asks government to submit reply

Appointments of 15 SAPM: IHC asks government to submit reply

The Islamabad High Court (IHC) on Tuesday directed the federal government to submit a written reply on the petition challenging the appointments of 15 special assistants to Prime Minister Imran Khan. A division bench of IHC comprising Justice Aamer Farooq
Published 11 Mar, 2020 12:00am
Carrefour introduces new mobile app
Business & Economy

Carrefour introduces new mobile app

Carrefour, operated in Pakistan by Majid Al Futtaim, has introduced a mobile app to better serve its Pakistani customers. The new app brings shoppers across Lahore a simple, digitized, and convenient mobile experience.
Updated 11 Mar, 2020 10:56am
TSA officials to visit Pakistan for assessing security standards

TSA officials to visit Pakistan for assessing security standards

Officials from the Transportation Security Administration (TSA), a US government agency that oversees airport and air carrier security, will visit Pakistan this week to conduct a formal assessment of security standards at the Islamabad International Airpo
Published 11 Mar, 2020 12:00am
TI-P accuses KE of sending 'exaggerated' bills to consumers
Energy

TI-P accuses KE of sending 'exaggerated' bills to consumers

Transparency International Pakistan (TI-P) has accused Karachi Electric (KE) of sending "exaggerated" electricity bills to consumers. On March 5, 2020, National Electric Power Regulatory Authority (Nepra) had also sought a report from KE which has not yet
Published 11 Mar, 2020 12:00am
NA to debate agro-economy today

NA to debate agro-economy today

The National Assembly will initiate an exclusive debate on Pakistan's agro-economy from Wednesday. The speaker National Assembly stated that agriculture is and will remain central to Pakistan's economic development in the foreseeable future and it was vit
Published 11 Mar, 2020 12:00am
Shell Pakistan and VISA announce grand prize winner
Energy

Shell Pakistan and VISA announce grand prize winner

Ms Romana Sohail was announced the grand prize winner of Go Home with Luxury contest by Shell Pakistan Limited and Visa. A special celebration was held at SPL Defence service station. The proud winner of a Mercedes had participated in the contest, which w
Published 11 Mar, 2020 12:00am
Police urged to help resolve traffic issues

Police urged to help resolve traffic issues

Divisional Commissioner Hyderabad Mohammed Abbas Baloch presiding over a meeting regarding traffic issues at his office committee room directed the officers concerned to seek the permanent solution of traffic problems of people of Hyderabad.
Published 11 Mar, 2020 12:00am
Report on 'CPEC in AJK' launched at ISSI
Business & Economy

Report on 'CPEC in AJK' launched at ISSI

"CPEC projects will unleash opportunities for socio-economic development for people of Azad Jammu & Kashmir. Government of AJ&K is making all efforts to ensure that CPEC projects in the region are implemented without any delays," stated Raja Farooq Haider
Published 11 Mar, 2020 12:00am
FBR's drive against doctors evading tax begins
Taxes

FBR's drive against doctors evading tax begins

The Federal Board of Revenue (FBR) here on Tuesday started campaign against tax defaulting doctors and prepared the list of 100 such doctors for necessary action. Deputy Collector FBR Mohsin Ahsan while talking to media persons said that the list of tax d
Published 11 Mar, 2020 12:00am
Modern construction techniques: NHA conducts seminar
Business & Economy

Modern construction techniques: NHA conducts seminar

In order to employ modern construction techniques in buildings of the National Highways and Motorways, the National Highway Authority (NHA)' s Design Section conducted a seminar in collaboration with AutoDesk software developer company and distributor Log
Published 11 Mar, 2020 12:00am
CEC visits KP election commission office

CEC visits KP election commission office

Chief Election Commissioner (CEC) of Pakistan, MJ Sikandar Sultan Raja on Tuesday just after taking charge of his office paid a visit to the provincial election commission office in Khyber Pakhtunkhwa. On the occasion, the provincial election commissioner
Published 11 Mar, 2020 12:00am
Plan afoot to promote oilseed crops in 15 districts of Punjab

Plan afoot to promote oilseed crops in 15 districts of Punjab

Under Prime Minister's agriculture emergency programme, Punjab Agriculture department has initiated a five-year National Oilseed Enhancement Programme costing more than Rs 5.11 billion for the promotion of oilseed crops cultivation like sunflower, canola
Published 11 Mar, 2020 12:00am
AJK president calls for carving independent states within India

AJK president calls for carving independent states within India

The President Azad Jammu and Kashmir, Masood Khan, on Tuesday, while condemning recent violence against Muslims in Indian capital, New Delhi, has called for creating independent states for Muslims and other minorities within India.
Published 11 Mar, 2020 12:00am
HabibMetro Bank wins three best practice awards
Money & Banking

HabibMetro Bank wins three best practice awards

HabibMetro Bank was recognized for its best practices in diversity and inclusion at the Global Diversity and Inclusion Benchmarks (GDIB) Awards 2020. The Bank won three awards 'Recruitment & Development', 'Social Responsibility', 'Learning'.
Published 11 Mar, 2020 12:00am
Agencies hand over 'missing' SSP to Lahore police

Agencies hand over 'missing' SSP to Lahore police

Security agencies have handed over "missing" Senior Superintendent of Police (SSP) Mukhafar Adeel, the prime suspect in former law officer Shahbaz Talta's murder case, to the city police on Tuesday.
Published 11 Mar, 2020 12:00am
15 coronavirus cases reported so far in Pakistan: Sarwar

15 coronavirus cases reported so far in Pakistan: Sarwar

Punjab Governor Chaudhry Mohammad Sarwar said on Tuesday that federal and Punjab governments are fully alert to controlling the coronavirus and ready to cope with any unwanted situation in this regard.
Published 11 Mar, 2020 12:00am
PFA seals seven milk shops, 12 eateries

PFA seals seven milk shops, 12 eateries

The Punjab Food Authority (PFA) on Tuesday sealed seven milk shops in the provincial metropolis and 12 others across Punjab. These food points were sealed due to adulteration, unhygienic conditions and non-compliance with food laws.
Published 11 Mar, 2020 12:00am
APTPMA voices concern over CNIC issue
Cotton & Textile

APTPMA voices concern over CNIC issue

Chairman All Pakistan Textile Processing Mills Association (APTPMA), Muhammad Pervez Lala, has expressed grave concern on the issue of submission of CNIC w.e.f. 01st February 2020 onwards.
Published 11 Mar, 2020 12:00am
IMC bags MAP's Corporate Excellence Award 2020
Business & Economy

IMC bags MAP's Corporate Excellence Award 2020

Indus Motor Company (IMC) has won the Best Corporate Excellence Award in the category of Automobile Assembler, as adjudged by the Management Association of Pakistan (MAP), while recognizing and honoring companies that exhibit outstanding performance and d
Published 11 Mar, 2020 12:00am
Elahi for implementing SC decision on school fees

Elahi for implementing SC decision on school fees

Punjab Assembly Speaker Chaudhry Pervez Elahi said on Tuesday that the government should monitor implementation on the Supreme Court's decision regarding fees of private schools.
Published 11 Mar, 2020 12:00am
New dictatorship imposed in name of Naya Pakistan: Bilawal

New dictatorship imposed in name of Naya Pakistan: Bilawal

Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari has said that politicians and the legal fraternity have to fight jointly against the new dictatorship imposed in the name of 'Naya Pakistan'.
Published 11 Mar, 2020 12:00am
Government urged to reduce power, gas tariffs for industrialisation
Energy

Government urged to reduce power, gas tariffs for industrialisation

The Amun Taraqqi Party (ATP), Chairman Muhammad Faiq Shah while stressing for demonstrating 'predetermination' in wake of rapid declining and shrinking the world's economy, demanded of the government to reduce electricity and gas tariffs at optimal level
Published 11 Mar, 2020 12:00am
Gold down by Rs 200

Gold down by Rs 200

Gold on Tuesday was traded for Rs 95000 per tola, down by Rs 200 on the local market, traders said.
Published 11 Mar, 2020 12:00am
Ethiopian Airlines marks one year since plane crash

Ethiopian Airlines marks one year since plane crash

Ethiopian Airlines on Tuesday marked the one-year anniversary of the crash of Flight 302 by bringing relatives of the dead together for a ceremony at the crash site southeast of the capital, Addis Ababa.
Published 11 Mar, 2020 12:00am
Putin lays out path to staying in power

Putin lays out path to staying in power

Russian President Vladimir Putin laid out a path Tuesday to staying in power beyond 2024, as lawmakers approved sweeping reforms to the constitution. In a surprise address to the lower house State Duma, Putin said there could be a presidential "reset" all
Published 11 Mar, 2020 12:00am
New York deploys National Guard to fight coronavirus

New York deploys National Guard to fight coronavirus

New York is deploying National Guard troops for the first time in the coronavirus crisis to help contain the spread of the disease from an infection-hit suburb of New York City, the state's governor said Tuesday.
Published 11 Mar, 2020 12:00am
UN headquarters closed to tourists over coronavirus

UN headquarters closed to tourists over coronavirus

The United Nations on Tuesday closed its New York headquarters to the general public to help prevent the spread of the new coronavirus, a spokesman for UN Secretary General Antonio Guterres said.
Published 11 Mar, 2020 12:00am
UN appeals for funds to shield refugees from coronavirus

UN appeals for funds to shield refugees from coronavirus

The United Nations made an urgent appeal Tuesday for tens of millions of dollars to help protect vulnerable refugees against the spread of the deadly new coronavirus. The UN refugee agency said it was seeking an initial $33 million "to boost the preparedn
Published 11 Mar, 2020 12:00am
South African president cleared of graft accusations

South African president cleared of graft accusations

A South African court on Tuesday ruled in favour of President Cyril Ramaphosa in a probe of suspected money laundering and personal enrichment linked to his 2017 party leadership election campaign fund.
Published 11 Mar, 2020 12:00am
Dutch king apologises to Indonesia

Dutch king apologises to Indonesia

Dutch King Willem-Alexander apologised to Indonesia on Tuesday for "excessive violence" during the former colony's independence struggle in the 1940s.
Published 11 Mar, 2020 12:00am
European wheat slumps to five-month low
Commodities

European wheat slumps to five-month low

European wheat slid on Monday to its lowest level in more than five months as a collapse in oil prices added to a recent rout in financial markets. A further jump in the euro and a slide in the Russian rouble clouded the export outlook for European wheat.
Published 11 Mar, 2020 12:00am
PMEX daily trading report

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,750. The traded value of metals, energy and COTS/FX was recorded at PKR 9.069 billion and the number of lots traded was 14,104.
Published 11 Mar, 2020 12:00am
CBOT soyabean futures fall following crude oil, equities
Commodities

CBOT soyabean futures fall following crude oil, equities

Chicago Board of Trade soyabean futures fell more than 2% on Monday in sympathy with declines in energy and equity markets after Saudi Arabia launched a crude oil price war against Russia and fears escalated over the economic impact of the coronavirus, tr
Published 11 Mar, 2020 12:00am