News Archives for Print - 2020-04-05

Print - 2020-04-05

China mourns virus dead as Americans told to wear masks

The global death toll in the coronavirus crisis soared past 60,000 on Saturday as calls grew for citizens to wear face masks to halt the pandemic's devastating spread.

Published 05 Apr, 2020 12:00am

Keir Starmer elected new UK Labour Party leader

Pro-European centrist Keir Starmer was on Saturday unveiled as new Labour party leader, heralding a shift in Britain's main opposition party after a crushing election defeat under veteran socialist Jeremy Corbyn and years of ideological infighting.

Published 05 Apr, 2020 12:00am

Inquiry committee report: Export behind increase in sugar prices

The inquiry committee on sugar price increase stated that its considered opinion based on documentary evidence was that the export of sugar was not justified, and with the export, sugar prices started increasing and exporters gained benefits in two ways -

Published 05 Apr, 2020 12:00am

Governments, body of flour mills held responsible for wheat/flour crisis

The inquiry committee on wheat headed by the Director General FIA, has held Ministry of National Food Security and Research (MNFS&R) and Provincial governments and Flour Mills Association responsible for wheat/ flour crisis in the country.

Published 05 Apr, 2020 12:00am

Report on coronavirus: 'Number of cases in country lower than EU states, Iran after 35 days'

The federal government informed the apex court that after 35 days (February 26 to April 1) the number of coronavirus cases in Pakistan was lower than European countries and neighbouring Iran.

Published 05 Apr, 2020 12:00am

Analysts expect 0.25 percent growth against targeted 4 percent

Due to severe impact of deadly coronavirus outbreak and lockdown on economic activities, the country's GDP growth is expected at 0.25 percent in the current fiscal year (FY20) as compared to government's target of 4.0 percent, economists said.

Published 05 Apr, 2020 12:00am

Exemptions under construction package critically examined

The government will not inquire about the source of any amount declared in the wealth statement, which is invested in the purchase of land and construction of any structure on such land; construction of any structure on already owned land or first purchas

Published 05 Apr, 2020 12:00am

Virus spread, unemployment major challenges: PM

Terming COVID-19 pandemic as a test and difficult situation for the nation, Prime Minister Imran Khan has expressed optimism that Pakistan would come out of this situation successfully with the nation's resolve and discipline.

Published 05 Apr, 2020 12:00am

Construction package: IMF links it to certain conditions

The International Monetary Fund (IMF) has linked the government package for construction industry with "stringent" conditions of timelines, nature and goals, aimed at providing support to the most vulnerable segments of the population, suffered due to COV

Published 05 Apr, 2020 12:00am

RLNG plants' sell-off: Pre-qualified bidders assured of timeline extension

The Privatisation Commission has assured the pre-qualified bidders for the privatisation of two RLNG power plants (Haveli Bahadursha and Balloki) to extend the timelines for the transaction in the wake of coronavirus pandemic.

Published 05 Apr, 2020 12:00am

Combined income groups: SPI inflation down 2.01 percent WoW

The SPI inflation during the week ended April 2 against March 26 on Week-on-Week (WoW) basis witnessed a reduction of 2.01 percent for combined income groups, ie, from 128.10 points to 125.52 points, the Pakistan Bureau of Statistic (PBS) revealed.

Published 05 Apr, 2020 12:00am

Crucial meeting delayed as Saudi Arabia and Russia row over price collapse

OPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between Moscow and Saudi Arabia over who is to blame for plunging oil prices.

Published 05 Apr, 2020 12:00am

Daniel Pearl murder case: SHC decision to be challenged in SC, says Qureshi

Declaring the United States reaction to acquittal of the accused in the Daniel Pearl murder case as "natural", Foreign Minister Shah Mahmood Qureshi on Saturday said that the Sindh High Court (SHC) decision will be challenged in the Supreme Court, and "no

Published 05 Apr, 2020 12:00am

Fury at 'Pokemon' jibe on French TV during China virus ceremony

A French rolling news channel was forced to apologise on Saturday after one of its reporters was heard to whisper "they are burying the Pokemons" during coverage of China's day of mourning for coronavirus victims.

Published 05 Apr, 2020 12:00am

Restrictions in IOJ&K; Pakistan asks world community to put pressure on India

Foreign Minister Shah Mahmood Qureshi on Saturday called the world community to put pressure on India to lift communication restrictions in the occupied Jammu and Kashmir to enable dissemination of information and ensure unfettered supply of daily items t

Published 05 Apr, 2020 12:00am

US small businesses seek $5.4 billion in relief loans

Small and medium-size US businesses have applied for more than $5.4 billion in government-backed loans as a key pillar of the country's coronavirus relief plan took effect, the Trump administration said.

Published 05 Apr, 2020 12:00am

Sugar dealers decide to stop brokerage activity immediately

The country's sugar dealers on Saturday announced they are stopping brokerage activity immediately due to current inquiry by a Commission headed by Director General FIA, Wajid Zia.

Published 05 Apr, 2020 12:00am

Wapda to hand over Rainee Canal Project to Sindh next year

Wapda will hand over Rainee Canal Project to the Irrigation Department of Sindh by June 30, 2021 after completion of rehabilitation work.

Published 05 Apr, 2020 12:00am

IHC urged to dismiss petition of KPT chief

The federal government has urged the Islamabad High Court (IHC) to dismiss the petition of Chairman Karachi Port Trust (KPT) Rear Admiral Jamil Aktar (retired).

Published 05 Apr, 2020 12:00am

Torkham, Chaman border crossingsto be reopened from 6th-9th

Pakistan on Saturday announced that Torkham and Chaman land border crossings will be reopened for a specific period from April 6-9, 2020, to facilitate Afghan nationals stuck in the country due to the closure of the borders in wake of the COVID-19 pandemi

Published 05 Apr, 2020 12:00am

Construction industry: Package only 'good on paper': Ashfaque

Prime Minister Imran Khan's package for the construction sector is 'good on paper' but may be hard to implement because of the difficult economic situation in the country, consequent to the coronavirus outbreak.

Published 05 Apr, 2020 12:00am

Letters

There's an opportunity

Business Recorder op-ed writer in his yesterday's contribution to the newspaper seems to have offered a sane and workable advice to the incumbent government.

Published 05 Apr, 2020 12:00am

Articles

Video app Zoom rockets to fame, with some hiccups, amid pandemic

What does British Prime Minister Boris Johnson have in common with virtual happy hour celebrants and thousands of students around the world?

Published 05 Apr, 2020 12:00am

Articles

Living alone and in need of a hug during global shutdown

Six nights a week, Shelley Howard could normally be found at a restaurant or bar in the famous Rush Street area of Chicago, dining out or having a drink with friends.

Published 05 Apr, 2020 12:00am

Articles

Construction package: cautious optimism

Building housing was one of the main pillars of PTI's 100-day agenda. This push was earlier seen in previous two governments (PMLN's and PPP's) but which died down in the respective regimes' very first year. The efforts were fizzling out during the curren

Published 05 Apr, 2020 12:00am

A respite for the Environment

Over the last one week or so the sky over Islamabad is striking blue while nights are brighter than ever. At night you can see far more stars. Even the North Star is now clearly visible. The air is less polluted and all those who suffer from asthma are br

Updated 06 Apr, 2020 05:22am

European medical aid for Iran

In the lingering debate on what may cause global economic collapse, the villain of the piece invariably was a nuclear war or global warming. Nobody has ever thought that it can also be a pandemic (Covid-19) that is now set on course to drastically redraw

Updated 06 Apr, 2020 05:19am

Crime rate remains low in Capital

Crime rate in the capital remained low during the last week as only a few cases of theft were reported; the police however, registered 121 cases against violators of Section 144 imposed in the wake of coronavirus outbreak.

Published 05 Apr, 2020 12:00am

Covid-19 spread: SPARC for raising tobacco price to deal with respiratory diseases

Society for the Protection of the Rights of the Child (SPARC) has suggested the government to increase tobacco price to deal with respiratory diseases and spread of Coronavirus (COVID-19).

Published 05 Apr, 2020 12:00am

114 nabbed for flouting Sec-144 in Peshawar

District administration Peshawar has arrested 114 persons and also sealed four schools in a crackdown against the violators of the Section 144 of the Criminal Procedural Code (CrPC) declared as precautionary measure to prevent the possible outbreak of the

Published 05 Apr, 2020 12:00am

Over 0.5 million registered for 'Tiger Force' in just 3 days: Usman Dar

Prime Minister's Corona Relief Tiger Force has received an unprecedented response from the people, which is reflected in registration of over half a million people in just three days.

Published 05 Apr, 2020 12:00am

Spray to disinfect ICT's residential areas begins

The Islamabad Capital Territory (ICT) Administration on Saturday started disinfection spray in the residential sectors of the metropolis to control the spread of the COVID-19 after completion of spray in areas where some people were tested positive for co

Published 05 Apr, 2020 12:00am

Coronavirus tally reaches 12: AJK premier for stringent lockdown measures

With a dozen coronavirus cases reported in Azad Jammu and Kashmir (AJK), Prime Minister AJK Raja Farooq Haider has directed the authorities to tighten lockdown measures as part of preventive arrangements against the deadly pandemic.

Published 05 Apr, 2020 12:00am

Money & Banking

SBP's economic stimulus package hailed

Ismail Suttar, Chairman of Economic Council, the Apex Body of Manufacturers of Pakistan, The Employers' Federation of Pakistan (EFP), on Friday welcomed the economic stimulus package announcements by the State Bank of Pakistan (SBP).

Published 05 Apr, 2020 12:00am

Special arrangements made for supplying gas to Islamabad

Regional office of the Sui Northern Gas Pipeline Limited (SNGPL) has made special arrangements for uninterrupted supply of gas on normal pressures for the residents of the federal capital.

Published 05 Apr, 2020 12:00am

Prices of essential kitchen items witness upward trend

Prices of most of the essential kitchen items especially pulses, sugar, rice and eggs, chicken and fruit have witnessed an increase during this week past as compared to the week before, a survey carried out by Business Recorder revealed here on Sat

Published 05 Apr, 2020 12:00am

Chinese embassy gifts 20,000 masks

Embassy of the People's Republic of China gifted 20,000 masks to Islamabad Police, a police spokesman said on Saturday.

Published 05 Apr, 2020 12:00am

Business & Economy

Business community concerned at delay in payment of outstanding refunds

Business community has expressed grave concern over undue delay in payment of outstanding refunds on head of export, sales tax and income despite the announcement of Rs100 billion economic relief package by Prime Minister Imran Khan to support industrial

Published 05 Apr, 2020 12:00am

Coronavirus outbreak: Leading educational institute offers facility of 'virtual school'

A leading educational institute has offered a unique facility of "virtual school" to the students for providing uninterrupted learning through real-time information system.

Published 05 Apr, 2020 12:00am

Business & Economy

SMEDA begins survey on Covid-19's impact on SMEs

Small and Medium Enterprises Development Authority (SMEDA), a subsidiary of the Ministry of Industries and Production has begun conducting research to quickly gauge the impact of COVID-19 on SMEs in the country.

Published 05 Apr, 2020 12:00am

Commodities

Wheat shortage in Punjab: Sindh accused of banning movement of grains

Flour shortage is expected to further aggravate in Punjab as wheat transportation from Sindh is being denied despite having permits from the Sindh food department.

Published 05 Apr, 2020 12:00am

Fight against Covid-19: Chinese doctors hold meeting with health team

While the number of Corona positive cases is on rise with 1087 cases in 26 districts of the province of Punjab, a team of Chinese doctors, which is currently visiting Pakistan to help the country contain the spread of the coronavirus Saturday held a meeti

Published 05 Apr, 2020 12:00am

Business & Economy

Government to open essential industry in phases: Firdous

Special Assistant to Prime Minister (SAPM) on Information and Broadcasting Dr Firdous Ashiq Awan has said that Prime Minister Imran Khan is well aware of the issues occurring due to coronavirus and is planning a roadmap and policy for meeting the future c

Published 05 Apr, 2020 12:00am

PM addresses volunteers of Corona Relief Tiger Force

Emphasising the need for coordinated efforts to face the situation created by Covid-19 pandemic, Prime Minister Imran Khan said on Saturday that "no one knows what would happen in future but we must be prepared for the worst."

Published 05 Apr, 2020 12:00am

20 percent discount in fees: Private schools owners reject government's proposal

The All Pakistan Private Schools Federation has rejected the Punjab government's proposal of voluntarily giving 20% discount in the monthly fees of April and May.

Published 05 Apr, 2020 12:00am

Business & Economy

Railways ready to operate special trains with PM's consent: minister

Federal Railways Minister Sheikh Rashid Ahmad said that the administration of Railways is ready to operate 20 special trains from April 14 with the consent of prime minister. He was addressing a press conference here on Saturday at Railways Headquarters.

Published 05 Apr, 2020 12:00am

Business & Economy

Resumption of limited operation: Industrial units allowed to operate as per SOPs set for combating Covid-19

In the wake of resumption of limited operation in the industrial units, the Punjab industries, commerce, investment & skills development department has issued SOPs (Standard Operating Procedures) for industrial units, industrial zones, industrial units of

Published 05 Apr, 2020 12:00am

Business & Economy

Construction sector: SRB proposes to adopt Punjab model for revival

While the Punjab government is fully geared up to serve the construction sector, the Sindh government is expecting more from the federal government and the Federal Board of Revenue (FBR) before implementing the same.

Published 05 Apr, 2020 12:00am

Commodities

Government urged to include steel re-rolling sector in economic recovery package

Chairman of the All Pakistan Steel Re-Rolling Mills Association and former Vice President FPCCI Karim Aziz Malik has emphasised the need that steel re-rolling sector be included in the economic recovery package.

Published 05 Apr, 2020 12:00am

Business & Economy

KCCI chief urges SRB to stop collecting taxes for six months

President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has said that Sindh Revenue Board (SRB) must stop collecting taxes during the next four to six months.

Published 05 Apr, 2020 12:00am

Three more disinfection walk-through gates installed

As part of measures taken to prevent and control the spread of coronavirus, three more disinfection walk-through gates have been installed in the federal capital.

Published 05 Apr, 2020 12:00am

Money & Banking

SBP's steps to address liquidity crisis lauded

President of Lasbela Chambers of Commerce & Industry (LCCI), Ismail Suttar has said that the recent proactive measures offered by State Bank of Pakistan to exporters is timely and will address the liquidity crisis situation and provide genuine support to

Published 05 Apr, 2020 12:00am

Taxes

Covid-19: MCC PQ faces Rs 7.51 billion revenue shortfall

Following considerable drop in imports deliveries by 50 percent amid the outbreak of COVID-19 in Pakistan, Model Customs Collectorate (MCC), Port Qasim has witnessed a shortfall of Rs7.51 billion to meet its revenue target of Rs59.135 billion for the mont

Published 05 Apr, 2020 12:00am

CPNE hails government's new method of advertisements' payment

The Council of Pakistan Newspapers Editors (CPNE) has welcomed the notification of Ministry of Information and Broadcasting for introducing new payment procedure of the govt advertisements to newspapers, periodicals and TV channels.

Published 05 Apr, 2020 12:00am

Cotton & Textile

CAPTA lauds government's relief efforts under SBP Refinance Scheme

Textile manufacturers-cum-exporters associations on Saturday appreciated a relief by the government under the State Bank of Pakistan Refinance Scheme to offset effects of Covid-19 and help the industries benefit - those availing the refinancing in terms o

Published 05 Apr, 2020 12:00am

DHA Quetta holds first balloting

DHA Quetta, Smart City is an extraordinary residential plan that offers a world class living space to the people of Balochistan. It is a mega project for the residents of Balochistan to ensure better living standards for everyone.

Published 05 Apr, 2020 12:00am

Alkhidmat donates health kits to ASH doctors, paramedics

Alkhidmat on request of Mayor Karachi Waseem Akhtar has donated safety gears including Personal Protection Equipment, Safety Gowns and Surgical Masks for medical staff of Abbasi Shaheed Hospital (ASH).

Published 05 Apr, 2020 12:00am

Murad approves purchase of 300,000 testing kits

Sindh Chief Minister Syed Murad Ali Shah has approved purchase of six new rapid testing machines and 300,000 testing kits so that testing capacity of COVID-19 in the public-sector hospitals could be enhanced.

Published 05 Apr, 2020 12:00am

Number of Covid-19 cases to soar in coming days, alerts Dr Zafar

Special Assistant to the Prime Minister (SAPM) on Health Dr Zafar Mirza on Saturday said that the number of cases in the coming days would increase eventually.

Published 05 Apr, 2020 12:00am

Commodities

Manila gets Vietnam's commitment to continuous rice supply

The Philippines, the world's top rice buyer, said on Thursday it has secured Vietnam's commitment for continuous supply of the staple food, which may include a 300,000-tonne importation, under an existing bilateral trade agreement.

Published 05 Apr, 2020 12:00am

Commodities

Russia sets Q1 grain export quota at seven million tones

The Russian government has approved an agriculture ministry proposal to limit grain exports to 7 million tonnes from April through June amid the coronavirus outbreak, it said in an order published on Thursday.

Published 05 Apr, 2020 12:00am

Energy

US natural gas futures fall to 24-year low

US natural gas futures fell over 2% on Thursday to their lowest in 24 years for the second straight day on a smaller-than-expected weekly storage draw and concerns higher crude prices could boost gas production from US shale oil fields.

Published 05 Apr, 2020 12:00am

Energy

European gasoline margins rise slightly

Northwestern European gasoline refining margins rose slightly on Thursday even as crude prices soared by around 20% and ARA inventories rose. ARA gasoline stocks rose by 3.7% in the week to Thursday to 1.186 million tonnes, according to Dutch consultancy

Published 05 Apr, 2020 12:00am

Commodities

Bad weather weighs on Argentine soya crop estimate

Argentina's 2019/20 soya crop is expected at 49.5 million tonnes, the Buenos Aires Grains Exchange said in its weekly report on Thursday, citing bad weather and lower-than-expected yields as the reason for cutting its earlier 52 million tonnes forecast.

Published 05 Apr, 2020 12:00am

Commodities

Brazil's March soyabean exports to hit record 13.1m tones

Brazilian soyabean exports in March are on track to hit a record 13.1 million tons, Lucas de Brito, an executive at the National Association of Cereal Exporters (Anec), told Reuters on Tuesday.

Published 05 Apr, 2020 12:00am

Commodities

EU wheat falls to lowest in almost two weeks

Euronext wheat extended a fall to touch its lowest in almost two weeks on Thursday, pressured by a pullback in Chicago as investors remained worried about the economic fallout from the coronavirus outbreak and saw a recent wheat rally as overdone.

Published 05 Apr, 2020 12:00am

Cotton & Textile

Cotton market: Textile industry in crisis due to lack of basic facilities

Ginners facing tough time because unsold cotton stock is not in demand after the spread of coronavirus, some dealers informed on phone on Saturday. The official spot rate was unchanged at Rs8800, dealers said.

Published 05 Apr, 2020 12:00am

Commodities

Canadian canola futures fall

ICE Canadian canola futures slipped on Thursday. It was a quiet day on the canola market, a trader said, adding that canola was being driven by swings in the Canadian dollar and the oil market. May canola shed $1.60 to $463.50 per tonne. May-July canola s

Published 05 Apr, 2020 12:00am

Energy

Asia's naphtha falls to 12-year low

Asia's naphtha crack on Thursday hovered near a 12-year low by falling 13.7% to a discount of $26.83 a tonne to Brent crude on ample supplies. LG Chem paid a discount of about $2 a tonne to Japan quotes on a cost-and-freight (C&F) basis for naphtha schedu

Published 05 Apr, 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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