News Archives for Print - 2020-03-12

Print - 2020-03-12

KCR to become operational within six months: NA told

The National Assembly was informed on Wednesday that the Karachi Circular Railway, a defunct regional public transit system in the port city of Karachi, will be made operational in six months in collaboration with the Sindh provincial government. Respondi

Published 12 Mar, 2020 12:00am

'Market halt' halted PSX bleeding

The recent reforms and restructuring of trading procedures at the stock exchange, introduced by the Securities and Exchange Commission of Pakistan (SECP), secured the Pakistan Stock Exchange (PSX) from a major blow. Senior officials of the SECP told Bu

Published 12 Mar, 2020 12:00am

FASTER System: Refunds to be paid on FIFO basis: FBR

The Federal Board of Revenue (FBR) has given a new understanding to the exporters that the sales tax refunds under the FASTER System would be paid on the basis of queue, ie, first in, first out basis and not within 72 hours. This has been disclosed by a F
Published 12 Mar, 2020 12:00am

Pilot martyred in F-16 crash

A Pakistan Air Force (PAF) F-16 aircraft crashed near Shakarparian on Wednesday morning during rehearsals for the March 23 parade. According to the PAF spokesperson, a PAF F-16 aircraft crashed near Shakarparian during the rehearsals for 23rd March parade
Published 12 Mar, 2020 12:00am

PM lays foundation stone of 20,000 housing units in Islamabad

Prime Minister Imran Khan on Wednesday reiterated government's commitment to construct five million housing units before the completion of his government's tenure, while laying the foundation stone of 20,000 housing units in Islamabad. "This is just the b
Published 12 Mar, 2020 12:00am

Five export-oriented sectors: ECC approves electricity relief package

The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved a special relief package to further continue the provision of subsidized electricity at 7.5 US cents per KWH till end June 2020 to five export-oriented sectors, namely textile,
Published 12 Mar, 2020 12:00am

Stocks
KSE-100 Index edges down: BRIndex100 flat

Pakistan Stock Exchange Wednesday witnessed a mixed trend and settled on a negative note. BRIndex100 lost 3.43 points or 0.09 percent to close at 3,911.74 points. BRIndex100 touched intraday high of 3,990.04 and intraday low of 3,890.52 points. Volumes st
Published 12 Mar, 2020 12:00am

CEO of AT&T ad unit Xandr resigns

Brian Lesser, chief executive of AT&T Inc advertising unit Xandr, has resigned, according to a source familiar with the matter, raising questions about the future of its advanced advertising strategy. A spokesman for AT&T declined to comment. Lesser was n
Published 12 Mar, 2020 12:00am

Effective from July 1: Remittances to be exempted from WHT

The amount of the remittances transferred into bank accounts will be exempted from withholding tax with effect from July 1, 2020, aimed at increasing remittances, the Finance Division said. Remittances during July-February fiscal year 2019-20 reached $ 15
Published 12 Mar, 2020 12:00am

WHO calls coronavirus a pandemic

The World Health Organization described the coronavirus outbreak as a pandemic for the first time on Wednesday as Britain and Italy announced multi-billion-dollar war chests to fight the disease. The United States also said it was considering new steps to
Published 12 Mar, 2020 12:00am

Pakistani dies in Italy

A first Pakistani national has died of coronavirus in Italy, the Foreign Office confirmed on Wednesday, as the death toll rose to 631 as of March 11 in the most-affected European country. "A 61-year-old Imtiaz Ahmad, unfortunately, died of coronavirus in
Published 12 Mar, 2020 12:00am

Educational institutions to reopen from Monday: Sindh minister

Sindh Minister for Education Saeed Ghani said on Wednesday that educational institutions would be reopened from Monday (March 16). He said this while talking to media persons after attending a meeting of the task force on coronovirus at the CM House here.
Published 12 Mar, 2020 12:00am

OPEC slashes 2020 oil demand view on coronavirus

OPEC slashed on Wednesday its forecast for global growth in oil demand this year due to the coronavirus outbreak and said more revisions might follow, underlining the deepening impact of the virus on the market days after a pact on output cuts collapsed.
Published 12 Mar, 2020 12:00am

Proposed 'deal' with TSML; Dawood changes his mind, starts talks with experts

Prime Minister's Advisor on Commerce, Industries and Production and Investment, Abdul Razak Dawood has reportedly changed his mind and started consultation with different experts on the proposed "deal" with M/s Tuwairqi Steel Mills Limited (TSML), sources
Published 12 Mar, 2020 12:00am

Taliban reject Afghan offer to free 1,500 prisoners before talks

The Taliban rejected the Afghan government's attempt to resolve a spiralling crisis over the release of insurgent prisoners Wednesday, as Kabul warned it was ready to resume offensive battlefield operations. The decree issued earlier by President Ashraf G
Published 12 Mar, 2020 12:00am

Lending and deposit rates: SBP issues guidelines for reporting

The State Bank of Pakistan (SBP) has issued fresh guidelines for reporting of lending and deposits rates (RoR) for all scheduled banks (reporting institutions). As per previous directives, reporting institutions were required to submit the RoR data on new
Published 12 Mar, 2020 12:00am

OICCI shares concerns, expectations with PM

Overseas Chamber of Commerce and Industry (OICCI) on Wednesday shared its concerns, expectations, future plans, solutions of economic and sectoral challenges with the Prime Minister Imran Khan. Talking to media after the meeting, Shazad Dada, President OI
Updated 12 Mar, 2020 01:20pm

PTI to table 'South Punjab province' bill in NA: Qureshi

Federal Minister for Foreign Affairs Shah Mehmood Qureshi announced on Wednesday that the ruling Pakistan Tehreek-e-Insaf (PTI) would table a bill in the National Assembly for the creation of South Punjab province. The foreign minister made this announcem
Published 12 Mar, 2020 12:00am

Letters
'Don't sell family silver to foreigners'

This is apropos a Business Recorder op-ed "Don't sell family silver to foreigners" carried by the newspaper yesterday. The writer, M Ziauddin, who is a senior economic journalist, has presented a strong case of what the title of his article says: D
Published 12 Mar, 2020 12:00am

Articles
Oil price crash: will it affect the move to green energy?

The collapse in global oil prices may end up being bad news in the short term for the transition to green energy, as cheaper crude could see more use of cars and aircraft. But on the flip side, it could see companies move away from exploiting expensive fo
Published 12 Mar, 2020 12:00am

Articles
Changing dynamics of oil and gas industry

There is great opportunity for foreign exploration and production (E&P) companies as well as for domestic private sector business houses to participate in Oil & Gas ventures in Pakistan. Pakistan's oil and gas landscape is poised for tremendous growth.
Published 12 Mar, 2020 12:00am

Articles
Discretion and its discontents

Administrative discretion is unavoidable. Problems, circumstances, administrators are all too complex to be straitjacketed into laws and regulations. "Where law ends (administrative) discretion begins" is how the father of administrative law Kenneth Davis
Published 12 Mar, 2020 12:00am

Terrorism still simmering

The martyrdom of Colonel Mujeebur Rehman at the hands of terrorists should give us pause for thought. The intelligence-based operation by the security forces in Granni Sheikhan area of D I Khan was based on information that some terrorists were hiding in
Updated 12 Mar, 2020 06:20am

Mid-term budget review report

The government's mid-year review report tabled before the National Assembly was dated as it contained data only for the first six months of the year while data for major macroeconomic indicators for the first eight months of the year is available on diffe
Updated 12 Mar, 2020 06:19am

Energy
Government urged to promote CNG in public sector

The government may consider converting public transport on CNG, which is more cost-effective and environment friendly clean fuel. In a meeting with the PM's Special Advisor on Climate Change Malik Amin Aslam Wednesday, the All Pakistan CNG Association (AP
Published 12 Mar, 2020 12:00am

NA passes 'Zainab Alert Bill' with majority vote

The National Assembly on Wednesday passed "The Zainab Alert, Response and Recovery Bill, 2019" - a bill aimed at raising alert, response and recovery of missing and abducted children - with a majority vote, days after it sailed through the Senate.
Published 12 Mar, 2020 12:00am

Female students: Senate body takes notice of harassment

The Senate Standing Committee on Science and Technology, taking serious note of the recent harassment cases of female students in colleges and universities directed the Higher Education Commission (HEC) for a comprehensive brief in the next meeting.
Published 12 Mar, 2020 12:00am

Fehmida felicitates Shirley Jayawardena

Pakistan Tehreek-e-Insaf (PTI) Central Vice President and former Vice President FPCCI, Fehmida Kausar Jamali congratulated Shirley Jayawardena, the first woman on assuming the charge as President of the Federation of Chambers of Commerce and Industry of S
Published 12 Mar, 2020 12:00am

National Jobs Portal to be established

The federal government will establish "National Jobs Portal" by the end of June 2020, where all federal and provincial vacant positions will be available, said the National Information Technology Board (NITB).
Published 12 Mar, 2020 12:00am

Citizens Protection (Against Online Harm) Rules 2020: Government invites foreign social media companies

The government has invited foreign social media companies for consultation on controversial "Citizens Protection (Against Online Harm) Rules 2020".
Published 12 Mar, 2020 12:00am

Energy
Global crude oil prices: Ministry directed to pass on benefit of reduction to people

The National Assembly Standing Committee on Finance has directed the Ministry of Finance and other concerned quarters to pass on the benefit of reduction in global crude oil prices to the people. The Standing Committee on Finance, Revenue and Economic Aff
Published 12 Mar, 2020 12:00am

BoP signs agreement with Alteridom Films

Bank of Punjab and Alteridom Films Pvt Ltd. has signed agreement for banking arrangements. The ceremony held at BOP office Tricon Center Lahore and attended by executives of both entities.
Published 12 Mar, 2020 12:00am

Energy
Calculation, collection of NHP from consumers termed illegal

In a major development, Power Division has asserted that AGN Kazi Methodology (KCM) meant to calculate Net Hydel Profit (NHP) and collection of NHP from consumers are unconstitutional and illegal and minutes of CCI meeting held on December 23, 2019 have b
Published 12 Mar, 2020 12:00am

Visa section of Pak embassy in Kabul closed

The visa section of Pakistan's embassy in Kabul has been closed after symptoms of coronavirus found in a staff member, on Wednesday. Visa section of Pakistan's embassy in Kabul has been shut down after symptoms of novel coronavirus found in a clerk of the
Published 12 Mar, 2020 12:00am

Sharjeel Memon granted pre-arrest bail

The Islamabad High Court (IHC) on Wednesday granted pre-arrest bail to Pakistan People's Party (PPP) leader Sharjeel Memon in Roshan Sindh Programme case.
Published 12 Mar, 2020 12:00am

Afghan peace process: Experts for collective efforts to keep 'spoilers' at bay

Former diplomats and experts on Afghan Affairs on Tuesday emphasized the need for collective efforts to prevent "spoilers" from derailing the peace process, and insisted that a stable political setup in a peaceful Afghanistan was more important than a Pak
Published 12 Mar, 2020 12:00am

Business & Economy
KP government drafts generous industrial policy

The provincial government of Khyber Pakhtunkhwa is going to announce a 10-year long generous incentives loaded new industrial policy to attract investment in the industrial sector and generate employment opportunities for the youth.
Published 12 Mar, 2020 12:00am

President opens IRM's regional group in Pakistan

The chief guest, President of the Islamic Republic of Pakistan, Dr Arif Alvi, opened the launch of the Institute of Risk Management's (IRM) Regional Group in Pakistan on 10th March 2020 in Islamabad.
Published 12 Mar, 2020 12:00am

Mexico City subway crash leaves one dead, 41 injured

One man died and 41 people were injured when two subway trains collided in Mexico City, officials said Wednesday, with panicked passengers escaping through dense smoke.
Published 12 Mar, 2020 12:00am

Israel razes homes of Palestinian bombing suspects

Israeli forces on Thursday demolished the homes of two Palestinian men accused of involvement in a bomb attack last year that killed an Israeli teenager in the occupied West Bank.
Published 12 Mar, 2020 12:00am

Lithuania marks 30 years since split that doomed Soviet empire

Lithuania on Wednesday celebrated the 30th anniversary of its secession from the Soviet Union, a move that heralded the beginning of the end of the sprawling Eurasian empire.
Published 12 Mar, 2020 12:00am

Syrian whistleblower presses US Congress for Assad accountability

A Syrian defector whose thousands of gruesome photos documented abuse under President Bashar al-Assad appealed Wednesday for action to ensure accountability as he appeared incognito before the US Congress.
Published 12 Mar, 2020 12:00am

Scottish review body refers Lockerbie bomber case for appeal

A Scottish body responsible for investigating possible miscarriages of justices said on Wednesday it had referred the case of a man jailed for the 1988 Lockerbie bombing for appeal.
Published 12 Mar, 2020 12:00am

Slovakia charges judges with corruption over journalist murder

Slovak prosecutors on Wednesday pressed various charges, including corruption, against judges and others over their communications with a businessman accused of having ordered the 2018 murder of a journalist, according to police.
Published 12 Mar, 2020 12:00am

Iraqi army says 10 rockets hit base housing US personnel

Ten rockets hit an Iraqi military base housing US soldiers near Baghdad Wednesday, in the 22nd attack against American military interests in the country since late October, an Iraqi military commander said.
Published 12 Mar, 2020 12:00am

Baloch urges government to clear dues of PSM's retired employees

Liaqat Baloch; Naib Ameer Jamaat-e-Islami (JI) Pakistan has urged the federal government for immediate payment of dues of six thousand retired employees of Pakistan Steel Mills (PSM) as they are facing financial difficulty to run their kitchen.
Published 12 Mar, 2020 12:00am

'The ICT Rights of Persons with Disability Bill, 2020' under study

Senate Functional Committee on Human Rights held a meeting under Committee Chairman Mustafa Nawaz Khokhar.
Published 12 Mar, 2020 12:00am

PA passes two bills, rejects amendments proposed by opposition

The Punjab Assembly on Wednesday passed Punjab Medical Teaching Institution (Reforms) Bill 2019 and Punjab Agricultural Marketing Regulatory Authority Bill 2019 rejecting all the amendments proposed by the opposition.
Published 12 Mar, 2020 12:00am

Taxes
FBR fails to rectify 'FASTER' system's fault, claims APTMA

The Pakistan Tehreek-e-Insaf government which took the credit of improving ease of doing business in Pakistan has failed to overcome the error in the Federal Board of Revenue IT system 'FASTER' for the last more than 20 days causing loss of billons of rup
Published 12 Mar, 2020 12:00am

KU confers 16 PhD degrees

The Advanced Studies and Research Board, University of Karachi, has awarded 16 PhD degrees in various disciplines.
Published 12 Mar, 2020 12:00am

Energy
Alternative energy policy: 'Centre agrees to address Sindh's reservations'

Sindh Energy Minister Imtiaz Ahmad Sheikh on Wednesday said that the federal government has agreed to address the reservations of the Sindh government regarding alternative energy policy.
Published 12 Mar, 2020 12:00am

PTI government to begin work on motorway, CRBC projects: KP CM

Khyber Pakhtunkhwa Chief Minister Mahmood Khan has said that work on the Peshawar-D I Khan Motorway and Chashma Right Bank Canal projects would be started in the tenure of the incumbent government.
Published 12 Mar, 2020 12:00am

Oktopus Media Group wins 2 APNS Awards

The All Pakistan Newspapers Society has announced the winners of its 24th edition of the award at the ceremony held in Islamabad on February 26th 2020. President of Pakistan His Excellency Dr Arif Alvi has graced the occasion as a chief guest. Oktopus Med
Published 12 Mar, 2020 12:00am

G.H. Thaver bags APNS Gold Award

At the APNS 24th Annual Awards Ceremony held recently at Islamabad, G.H. Thaver was amongst the few to be singled out for the coveted APNS Gold Award in recognition of five decades of excellence and achievements in the media industry.
Published 12 Mar, 2020 12:00am

Money & Banking
Disbursements, utilisation: SBP asks MFBs and DFIs to submit regional statistics

The State Bank of Pakistan (SBP) has asked Microfinance Bank (MFBs) and Development Financial Institutions (DFIs) to submit regional statistics on disbursements and utilization through Data Acquisition Portal (DAP).
Published 12 Mar, 2020 12:00am

Money & Banking
Expectations of rate cut pull down MTBs margin

The cut-off yield of all short-term government papers fell up to 133 basis points in the auction held Wednesday amid rate cut expectations in next monetary policy.
Published 12 Mar, 2020 12:00am

Business & Economy
Sarwar unfolds 'business plan' of Governor House

Punjab Governor Chaudhry Mohammad Sarwar on Wednesday formally announced business plan of Governor House saying the Governor House's lawn will be available for corporate sector at Rs 1 million for each event. Any function can also be arranged for Rs 500,0
Published 12 Mar, 2020 12:00am

Ilma University students visit police museum

Ilma University arranged a treasured trip to the Sindh Police Museum. It was a one of a kind excursion. The students got a chance to experience the preserved artifacts in this historical monument.
Published 12 Mar, 2020 12:00am

Energy
Vessel carrying coal strands on rocky coast

A cargo vessel carrying coal for a private power company has stranded on the rocky coast off Karachi on Wednesday morning. According to local fishermen, the vessel stranded at the rocky coastal area of the beach near Mubarak Village.
Published 12 Mar, 2020 12:00am

Business & Economy
PBIF chief for resolution of textile sector's issues

President of Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain, has said that the issues confronting the textile sector should be resolved so that it can play an effective role in national development.
Published 12 Mar, 2020 12:00am

Stocks
Coronavirus threat: SECP advises companies to hold meetings through video conferencing

In light of the threat posed by the evolving coronavirus (COVID-19) situation and to protect the wellbeing of shareholders, the Securities and Exchange Commission of Pakistan (SECP) advised all companies to modify their usual planning for annual general m
Published 12 Mar, 2020 12:00am

Business & Economy
ABAD chief voices concern over demolition of 'legal' buildings

Association of Builders and Developers of Pakistan (ABAD) Chairman Mohsin Sheikhani lamenting the current situation of construction sector said that legally approved buildings are being demolished in the name of illegal construction despite the fact that
Published 12 Mar, 2020 12:00am

Energy
Government urged to renegotiate contracts of IPPs

Pakistan Industrial and Traders Association Front (PIAF) Chairman Mian Nauman Kabir has asked the government to renegotiate power purchase agreement with the Independent Power Producers (IPPs) to reduce power tariff, as the IPPs are earning around 40 perc
Published 12 Mar, 2020 12:00am

Business & Economy
KATI chief for reducing policy rate to help survive industry

President of Korangi Association of Trade & Industry (KATI), Sheikh Umer Rehan has urged the prime minister and the governor State Bank of Pakistan to immediately decrease policy rate for the sake of survival of industry in the country.
Published 12 Mar, 2020 12:00am

Articles
Partly Facetious: Meghan is a typical daughter-in-law

"I sometimes wonder if Maryam Nawaz is a Meghan Markle instead of Ivanka."
Published 12 Mar, 2020 12:00am

Business & Economy
'Exports can increase due to slowdown in Chinese economy'

Deputy Governor of the State Bank of Pakistan (SBP), Murtaza Syed, said on Wednesday that the country's exports can increase in the medium term due to slowdown in the Chinese economy due to the coronavirus, resulting in cancellation of export orders aroun
Published 12 Mar, 2020 12:00am

Dust storm forecast

The Met Office Wednesday forecast a sandstorm for parts of lower Sindh, including Karachi in next 24 hours. The Met Office said another strong westerly weather system is likely to produce more rains for next 2-3 days, until Friday (March 13).
Published 12 Mar, 2020 12:00am

SSUET may have campus in Education City

President of Aligarh Muslim University Old Boys' Association (AMUOBA) and Chancellor of Sir Syed University of Engineering & Technology, Jawaid Anwar, has said that they are planning to establish a boarding university at 200 acres of land in the Education
Published 12 Mar, 2020 12:00am

Guidance to protect children from transmission of COVID-19 virus issued

The International Federation of the Red Cross (IFRC), UNICEF and the World Health Organization (WHO) has issued new guidance to help protect children and schools from transmission of the COVID-19 virus coupled with provision for critical considerations an
Published 12 Mar, 2020 12:00am

Business & Economy
Infighting between two business community groups irks Malik

The last battle of Pakistan business community's two groups will be fought on SAARC Chamber nominations, as Balochistan High Court (BHC) has suspended both letters written by the incumbent President FPCCI and issued a stay order on implementation.
Published 12 Mar, 2020 12:00am

Brief Recordings
Sitara Chemical Industries Limited

Sitara Chemical Industries Limited (PSX: SITC) was established in 1981 as a public limited company under the Companies Act, 1913 (now Companies Act, 2017). It is part of the larger Sitara group.
Updated 12 Mar, 2020 04:11am

Allies back Putin as critics denounce plan to 'usurp power'

President Vladimir Putin's allies on Wednesday backed reforms that could allow him to stay in the Kremlin until 2036, but critics accused him of seeking to usurp power and called for protests.
Published 12 Mar, 2020 12:00am

Mozambique deplores meagre aid for cyclone

Mozambique said Wednesday it had received less than a quarter of the funding needed to rebuild after two deadly cyclones pummelled the country last year.
Published 12 Mar, 2020 12:00am

G7 ministerial to take place virtually due to coronavirus: US

A meeting of Group of Seven foreign ministers set this month for Pittsburgh will take place virtually instead due to coronavirus concerns, the United States said Wednesday. "Out of an abundance of caution, the United States has decided to host the upcomin
Published 12 Mar, 2020 12:00am

US needs top cyber coordinator, better hacker 'deterrence'

The US needs a top-level cybersecurity coordinator and a better strategy of "deterrence" to protect against hackers and other cyber threats, a congressionally mandated commission said Wednesday. Defense in cyberspace requires a series of government reform
Published 12 Mar, 2020 12:00am

Sanders says still in White House fight despite Biden surge

Bernie Sanders on Wednesday dashed speculation over an immediate end to the Democratic primary contest, saying he remains in the fight against centrist frontrunner Joe Biden, despite pressure to withdraw for the sake of party unity.
Published 12 Mar, 2020 12:00am

Hollywood rapist Harvey Weinstein jailed for 23 years

Disgraced movie mogul Harvey Weinstein was sentenced to 23 years in prison for rape and sexual assault Wednesday, capping a sensational downfall for the once-powerful producer in a landmark case for the MeToo movement. Weinstein, who turns 68 next week, f
Published 12 Mar, 2020 12:00am

India suspends tourist visas over coronavirus

India on Wednesday suspended all tourist visas until April 15 and said it would quarantine travellers arriving from seven virus-hit countries in an attempt to contain the spread of the new coronavirus, the government said in a statement.
Published 12 Mar, 2020 12:00am

Greece has 'secret site' for migrant pushbacks

Greece has a "secret site" on the border with Turkey to incarcerate and expel migrants arriving in a surge facilitated by Ankara, the New York Times reported Wednesday. The Greek government denied the Times report, saying all frontier security was carried
Published 12 Mar, 2020 12:00am

Bangladesh Nobel laureate Yunus apologises for labour violations

Bangladesh Nobel laureate Muhammad Yunus has been fined $88 after pleading guilty and apologising for violating the country's labour laws, court officials said Wednesday. The 2006 Nobel Peace Prize winner, whose pioneering micro-lender has been hailed for
Published 12 Mar, 2020 12:00am

Cricket fan fails to stump Lord's security with fake ID

It is one of the most sought-after and exclusive places to watch sport in the whole world - the member's pavilion at the prestigious Lord's Cricket Ground. But a businessman who used a dead man's prized membership card to get into the famous London sporti
Published 12 Mar, 2020 12:00am

French court grants Iranian engineer's extradition to US

France's highest court on Wednesday approved the extradition to the United States of an Iranian engineer arrested for violating American sanctions against his home country.
Published 12 Mar, 2020 12:00am

Business & Economy
Customs dept providing maximum import, export-related facilities

Customs Department is making sincere efforts to provide maximum import and export related facilities and in this connection 44 different government departments are thrashing out viable solutions under National Single Window (NSW) programme, said Kamal She
Published 12 Mar, 2020 12:00am

Second coronavirus case reported in Gilgit-Baltistan

The second coronavirus case of Gilgit-Baltistan reported on Wednesday, raising Pakistan's tally of total confirmed cases to 20.
Published 12 Mar, 2020 12:00am

Gun and Country Club: SC rejects names of managing body's members

The Supreme Court has rejected the names for the management committee of Gun and Country Club, Islamabad. A three-member bench, headed by Justice Umar Ata Bandial, heard the case.
Published 12 Mar, 2020 12:00am

Senate body seeks details about anti-polio drive

The Senate Standing Committee on National Health Services, Regulations and Coordination on Wednesday asked the Ministry of National Health Services, Regulations and Coordination to share all the relevant details regarding its anti-polio drive across the c
Published 12 Mar, 2020 12:00am

PML-N leaders meet Bilawal, discusses political situation

Pakistan Muslim League-Nawaz (PML-N) leaders on Wednesday held a meeting with Pakistan People's Party (PPP) Chairman Bilawal Bhutto-Zardari at his chamber at the Parliament House and discussed current political situation of the country.
Published 12 Mar, 2020 12:00am

PMPKL announces operating loss before tax

Philip Morris (Pakistan) Limited (PMPKL) on Wednesday announced an operating loss before tax of Rs 2,444 million for the year ended December 31, 2019.
Published 12 Mar, 2020 12:00am

Shahbaz terms hike in government's debt 'alarming'

PMLN President and National Assembly opposition leader Shahbaz Sharif while expressing alarm over the staggering increase in the government debt has said that this exponential spike from Rs 1.210 trillion to a baffling Rs 32.997 trillion over just the pas
Published 12 Mar, 2020 12:00am

Business & Economy
PTI government repays a foreign loan of Rs 11000 billion: Shaukat

Khyber Pakhtunkhwa Minister for Labour and Culture Shaukat Yousafzai on Wednesday said that PTI government under the leadership of Prime Minister Imran Khan has managed to return Rs 11000 billion foreign loans in a very short time.
Published 12 Mar, 2020 12:00am

Commodities
Euronext wheat mixed as Russian competition curbs rebound

Euronext wheat was mixed on Tuesday, with support from a broad recovery in financial markets curbed by signs of renewed competition from Russian wheat and technical trading linked to the expiry of spot futures. Benchmark May milling wheat on Paris-based E
Published 12 Mar, 2020 12:00am

PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,872. The traded value of metals, energy and COTS/FX was recorded at PKR 5.501 billion and the number of lots traded was 8,933.
Published 12 Mar, 2020 12:00am

Commodities
Russian wheat export prices fall to sixth week

Russian wheat export prices fell for the sixth week running last week, following global benchmarks and a tumbling rouble, which is likely to trigger domestic price growth this week, analysts said on Tuesday. Russian wheat with 12.5% protein content loaded
Published 12 Mar, 2020 12:00am

Energy
US natural gas futures jump on oil price rises

US natural gas futures rose more than 6% on Tuesday, following an 8% increase in oil prices, on hopes of economic stimulus and expectations the oil price collapse will prompt US drillers to cut back on oil and gas production in shale basins.
Published 12 Mar, 2020 12:00am

Business & Economy
Activities at Karachi and Port Qasim

The Karachi Port handled 114,927 tonnes of cargo comprising 58,084 tonnes of import cargo and 56,843 tonnes of export cargo including 7,542 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.
Published 12 Mar, 2020 12:00am

Cotton & Textile
Lethargic business seen on cotton market

Another dull day witnessed on the cotton market on Wednesday due to short supply position, dealers said. The official spot rate maintained overnight levels at Rs 9000, they added. In the ready session, deals could not be confirmed as mills and spinners fa
Published 12 Mar, 2020 12:00am

Commodities
CBOT corn futures rise

Chicago Board of Trade corn futures ended higher on Tuesday on bargain-buying after a three-session slide and spillover strength from a rebound in US equity markets and crude oil futures, traders said. Oil and global equity markets recovered after the pri
Published 12 Mar, 2020 12:00am

Commodities
CBOT wheat futures higher after choppy session

Chicago Board of Trade wheat futures closed higher on Tuesday, rallying in late technical moves following a choppy session, traders said. CBOT May soft red winter wheat settled up 3-1/2 cents at $5.22-1/4 per bushel. K.C. May hard red winter wheat ended u
Published 12 Mar, 2020 12:00am

Money & Banking
Pound erases gains, dollar down in Asia

The British pound erased early gains after an unexpected interest rate cut by the Bank of England on Wednesday, while the dollar resumed its descent against the safe-haven Japanese yen and Swiss franc on fears over the spreading coronavirus.
Published 12 Mar, 2020 12:00am

Money & Banking
Dollar falls against yen, Swiss franc in Europe

The US dollar resumed its descent against the Japanese yen and Swiss franc on Wednesday as fears over the spreading coronavirus pushed investors into safe havens, while the British pound recovered after Bank of England unexpectedly cut interest rates.
Published 12 Mar, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency Rate

USD PKR Interbank Selling / Apr 26

278.58

USD PKR Interbank Buying / Apr 26

278.28

USD to Japanese Yen / Apr 26

158.33

USD to Swiss Franc / Apr 26

0.91

Pound Sterling to USD / Apr 26

1.25

Euro to USD / Apr 26

1.07

Stock Volume

S&P 500 / Apr 26

5099.96

India Sensex / Apr 26

73730.16

Tokyo Nikkei / Apr 26

37934.76

Nasdaq / Apr 26

15927.90

Hang Seng / Apr 26

17651.15

FTSE 100 / Apr 26

8139.83

Dow Jones / Apr 26

38239.66

Germany DAX 30 / Apr 26

18161.01

Item Value

Crude Oil USD/Barrel / Apr 26

83.85

Karachi Cotton PKR/37.32 KG / Apr 26

20535

Gold 10 Grams PKR / Apr 26

210048

Gold Spot USD/Ounce / Apr 26

2337.96

Cotton US¢/pound / Apr 26

80.90

Petrol/Litre / Apr 28

293.94

Gainers
Losers
Leaders

Stock Price

786 Invest Ltd / Apr 28

786 Investments Limited(786)

5

▼ 0.00 (0.00%)

AL-Abbas Sugar / Apr 28

Al-Abbas Sugar Mills Limited(AABS)

585

▼ 0.00 (0.00%)

Agro Allianz / Apr 28

Agro Allianz Limited(AAL)

16

▼ 0.00 (0.00%)

AL-Abid Silk / Apr 28

Al-Abid Silk Mills Limited(AASM)

3.49

▼ 0.00 (0.00%)

Ali Asghar / Apr 28

Ali Asghar Textile Mills Limited(AATM)

2.07

▼ 0.00 (0.00%)

Allied Bank / Apr 28

Allied Bank Limited(ABL)

87.10

▼ 0.00 (0.00%)

Abbott Lab. / Apr 28

Abbott Laboratories (Pakistan) Limited(ABOT)

499.34

▼ 0.00 (0.00%)

Abson Ind. / Apr 28

Abson Industries Limited(ABSON)

2.50

▼ 0.00 (0.00%)

Alfalah ETF. / Apr 28

Alfalah Consumer Index ETF.(ACIETF)

9.84

▼ 0.00 (0.00%)

Stock Price

786 Invest Ltd / Apr 28

786 Investments Limited(786)

5

▲ 0.00 (0.00%)

AL-Abbas Sugar / Apr 28

Al-Abbas Sugar Mills Limited(AABS)

585

▲ 0.00 (0.00%)

Agro Allianz / Apr 28

Agro Allianz Limited(AAL)

16

▲ 0.00 (0.00%)

AL-Abid Silk / Apr 28

Al-Abid Silk Mills Limited(AASM)

3.49

▲ 0.00 (0.00%)

Ali Asghar / Apr 28

Ali Asghar Textile Mills Limited(AATM)

2.07

▲ 0.00 (0.00%)

Allied Bank / Apr 28

Allied Bank Limited(ABL)

87.10

▲ 0.00 (0.00%)

Abbott Lab. / Apr 28

Abbott Laboratories (Pakistan) Limited(ABOT)

499.34

▲ 0.00 (0.00%)

Abson Ind. / Apr 28

Abson Industries Limited(ABSON)

2.50

▲ 0.00 (0.00%)

Alfalah ETF. / Apr 28

Alfalah Consumer Index ETF.(ACIETF)

9.84

▲ 0.00 (0.00%)

Stock Volume

P.I.A.C.(A) / Apr 28

Pakistan International Airlines Corp(PIAA)

47,200,500

▲ 0.00

Cnergyico PK / Apr 28

Cnergyico PK Limited(CNERGY)

29,719,327

▲ 0.00

Pak Petroleum / Apr 28

Pakistan Petroleum Limited(PPL)

21,170,581

▲ 0.00

Pak Refinery / Apr 28

Pakistan Refinery Limited(PRL)

16,965,134

▲ 0.00

The Searle Co. / Apr 28

The Searle Company Limited(SEARL)

15,793,227

▲ 0.00

P.T.C.L. / Apr 28

Pakistan Telecommunication Company Ltd(PTC)

15,054,641

▲ 0.00

K-Electric Ltd. / Apr 28

K-Electric Limited(KEL)

14,145,556

▲ 0.00

WorldCall Telecom / Apr 28

Worldcall Telecom Limited(WTL)

13,158,668

▲ 0.00

Telecard Limited / Apr 28

Telecard Limited(TELE)

12,358,668

▲ 0.00

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No intention to impose fixed tax on solar, Power Division clarifies

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Gold price per tola jumps Rs2,500 in Pakistan

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NJLI Sarmaya Growth Fund Rates

March demand down 7.5pc: Govt mulling options to boost power consumption

Net metering power: Govt mulling bringing buyback rates down to Rs11/unit from Rs21

FBR notifies transfers of 12 key officers to Admin Pool

Major shuffle in FBR ahead of budget preparation exercise

Gold price per tola jumps Rs2,500 in Pakistan

3.2 magnitude earthquake hits parts of Karachi

WPPs worried about continuous power curtailment

Net metering power: Govt mulling bringing buyback rates down to Rs11/unit from Rs21

NJLI Sarmaya Growth Fund Rates

No intention to impose fixed tax on solar, Power Division clarifies

Prices of petrol, diesel likely to be slashed

Gold price per tola jumps Rs2,500 in Pakistan

Operations: KAPCO reluctant to opt for CTBCM

Pakistan misses wheat production target

Airline revenues: IATA urges Pakistan to allow repatriation of $399mn

Annual rental value property: Sindh govt given three months to legislate on levy of tax

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	158.33
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 26	5099.96
India Sensex / Apr 26	73730.16
Tokyo Nikkei / Apr 26	37934.76
Nasdaq / Apr 26	15927.90
Hang Seng / Apr 26	17651.15
FTSE 100 / Apr 26	8139.83
Dow Jones / Apr 26	38239.66
Germany DAX 30 / Apr 26	18161.01

Item	Value
Crude Oil USD/Barrel / Apr 26	83.85
Karachi Cotton PKR/37.32 KG / Apr 26	20535
Gold 10 Grams PKR / Apr 26	210048
Gold Spot USD/Ounce / Apr 26	2337.96
Cotton US¢/pound / Apr 26	80.90
Petrol/Litre / Apr 28	293.94

Stock	Price
786 Invest Ltd / Apr 28 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 28 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 28 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 28 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 28 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 28 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 28 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 28 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 28 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 28 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 28 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 28 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 28 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 28 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 28 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 28 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 28 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 28 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 28 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 28 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 28 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 28 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 28 Telecard Limited(TELE)	12,358,668 ▲ 0.00