Business Recorder articles from April 2012

Business Recorder archives from April 2012

Country gets just 26 percent foreign disbursements.
April 30, 2012... Byline: ASMA RAZAQ Pakistan has received foreign disbursements amounting to just $1.16 billion during the first 10 months of the current fiscal year against a budgetary estimate of $4.5 billion. Documents available with Business Recorder...

Oil import bill crosses $11 billion mark.
April 30, 2012... Byline: RIZWAN BHATTI The country's oil import bill has registered a phenomenal rise of 38 percent, crossing $11-billion-mark during the current fiscal year mainly because of soaring oil prices in the world market. Industry sources told...

Oil import bill crosses $11 billion mark.
April 30, 2012... Byline: RIZWAN BHATTI The country''s oil import bill has registered a phenomenal rise of 38 percent, crossing $11-billion-mark during the current fiscal year mainly because of soaring oil prices in the world market. Industry sources told...

Index gains 106.29 points.
April 30, 2012... Byline: RECORDER REVIEW The KSE-100 index increased by 106.29 points during the outgoing week ended April 27, 2012 and closed at the level of 14,042.77 points. The announcement of much awaited presidential order regarding revised capital...

Futures open interest up 27 percent.
April 30, 2012... Byline: RECORDER REPORT Total market open interest position at the futures counter during the outgoing week increased by Rs 632 million, up 27 percent on week-on-week basis to Rs 3.02 billion mainly because of the rollover week with two...

Nation observes Youm-e-Shuhada today.
April 30, 2012... Youm-e-Shuhada is being observed on Monday (today) throughout Pakistan to remember the 35,000 innocent civilians killed during terrorist attacks, including women, children and old people and over 3,000 military and security personnel who laid...

FX & Gold weekly outlook April 30 - May 04: major economies facing severe difficulties.
April 30, 2012... Byline: ASAD RIZVI It was an eventful week, as some of the major events of the week were lowering of Spain's long-term credit rating by two notches to BBB+ on debt concerns and downgrading of India's outlook from stable to negative by S &...

FX & Gold weekly outlook April 30 - May 04: major economies facing severe difficulties.
April 30, 2012... Byline: ASAD RIZVI It was an eventful week, as some of the major events of the week were lowering of Spain''s long-term credit rating by two notches to BBB+ on debt concerns and downgrading of India''s outlook from stable to negative by S...

Graft cases against Zardari: no Prime Minister from PPP will write letter: Gilani.
April 30, 2012... Byline: JALIL HASSAN AKHTAR Prime Minister Yousuf Raza Gilani here on Sunday unequivocally stated that no Prime Minister from the Pakistan People's Party (PPP) would write a letter to Swiss authorities to reopen corruption cases against...

His eligibility main issue: Nisar.
April 30, 2012... Byline: NAVEED BUTT Opposition Leader in the National Assembly Chaudhry Nisar Ali Khan on Sunday said that PML-N never challenged the majority of the ruling coalition, adding that Prime Minister Syed Yousuf Raza Gilani's eligibility after his...

Funding requirements of IP gas pipeline: Rs 35-40 billion collected from GIDC so far.
April 30, 2012... Byline: ABDUL RASHEED AZAD & ZAHEER ABBASI The government has so far collected approximately Rs 35-40 billion from Gas Infrastructure Development Cess, which would be utilised for construction of Iran Pakistan (IP) gas pipeline and/or...

Rehabilitation of families: flood-, insecurity-hit areas need $840 million: UN.
April 30, 2012... Pakistan needs $840 million to meet the needs of 7.2 million people hit by floods and insecurity, United Nations' estimates showed on Sunday. Appreciating the effectiveness of partnership between aid agencies and the government in this...

Imran condemns fresh drone attack.
April 30, 2012... Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan has strongly condemned the latest drone attack that took place on Sunday in Miranshah, North Waziristan, targeting a girls' school. In a statement issued here he called on the government to move...

Girl dies in house-collapse incident.
April 30, 2012... A seven-year-old girl died while another injured in a roof collapsing related incident at Kabal area on Sunday, police said. The children of Shamshair resident of Qambo area were sleeping when the structure of the dilapidated house caved in,...

Trade with India not at the cost of local industry: Shujaat.
April 30, 2012... Pakistan Muslim League-Q chief Chaudhry Shujaat Hussain on Sunday said enhanced trade with India was the preference of the government but it would not be at the cost of local industry. "Safeguarding the local industry is more important," he...

Nine LoIs issued to produce 228MW solar power.
April 30, 2012... Ministry of Water and Power has issued nine Letters of Intent (LoIs) to different Solar Independent Power Producers (IPPs) to produce cumulative capacity of 228 MW electricity. A senior official at the Ministry on Sunday said these small and big...

Imagine Cup: Microsoft, HEC to host worldwide finals in Sydney.
April 30, 2012... Bringing together the sharpest minds in the field of technology, Microsoft Pakistan, in partnership with the Higher Education Commission (HEC), hosted the local finals of the Imagine Cup. This is the world's premier student technology...

SCCI conference on energy, climate change today.(Conference news)
April 30, 2012... The Saarc Chamber of Commerce and Industry (SCCI) in collaboration with Sustainable Development Policy Institute (SDPI) supported by Freidrich Naumann Foundation, Fur Die Freiheit, Regional office, New Delhi will organise conference on energy,...

PEW asks government to resolve circular debt issue.
April 30, 2012... Byline: M RAFIQUE GORAYA Pakistan Economy Watch (PEW) on Sunday asked the government to resolve inter-corporate circular debt issue in the power sector. "Liquidity crunch in the energy sector has hurt economic growth, hit exports, reduced...

Devotees demand revival of Bari Imam's Urs.
April 30, 2012... The devotees of Bari Imam have urged the government to revive the annual Urs of the 16th Century saint, usually observed in May. Since 2009, the annual event could not take place owing to law and order situation, though the devotees have been...

First two-day E-governance exhibition inaugurated.
April 30, 2012... Byline: RECORDER REPORT The first 2-day "E-governance Exhibition" in the history of the country was held under the aegis of Punjab Information Technology Board at Arfa Software Technology Park on Sunday. Chief Minister Punjab Muhammad Shahbaz...

Embroidery products of women from flood-hit areas displayed.
April 30, 2012... Byline: RECORDER REPORT Pakistan Village Development Programme (PVDP) with the assistance of international welfare organisation TROCAIR organised exhibition of the embroidery products of the women of flood affected union council, Mohib Banda,...

Traffic arrangement on Shuhada Day in Rawalpindi.
April 30, 2012... Rawalpindi Traffic police here on Sunday issued a special traffic plan on the occasion of Shuhada Day to be observed on April 30 and some important traffic sections will be closed for all kind of traffic. The day will be observed in the memory...

Three killed, 20 injured in Khyber blast.
April 30, 2012... Three persons were killed and 20 other injured in a bomb blast occurred in a Suzuki Van parked in Zakha Khail Tribes Bus Stand, in Jamrud area of Khyber Agency on Sunday. According to political administration some unknown miscreants parked a...

Strategic Trade Policy Framework 2012-2015: micro-level issues need to be given more weightage.
April 30, 2012... Byline: IQBAL MIRZA Micro-level issues need to be given more weightage in the upcoming Strategic Trade Policy Framework (STPF) 2012-2015 as these would yield better results not only for trade but also for national economy. This was emphasised...

Punjab chief minister inaugurates 3-lane Muslim Town Flyover.
April 30, 2012... Byline: RECORDER REPORT Punjab Chief Minister Shahbaz Sharif here Sunday inaugurated 3-lane Muslim Town Flyover. This is the longest flyover constructed across the country so far. This project has been completed in a record period of 176 days...

Indonesian culture show enthralls visitors.
April 30, 2012... 'Indonesian Culture Show' was organised by the Consulate General of the Republic of Indonesia in Karachi on Sunday at Park Towers, Clifton. The show was held amid the annual Travel Festival titled 'Around the world in seven days'. Speaking on...

Price fluctuations seen at low level despite looming threat of various food items' scarcity worldwide.
April 30, 2012... Byline: SHAFI AHMAD SYED Commodities apparently looking mixed past week were misleading as men who matter had hurled tacit warning the shape of the economy needs careful nursing. The BRICS and Asia as a whole are making preparation to take...

World Labour Day on May 1.
April 30, 2012... The International Labour Day will be observed in the country on May 1 in solidarity with the people the world over who toil for earning their livelihood as labourers, workers and employees in various spheres of life. The Day is observed in...

Malnutrition among children under five: there has been no change in 30 years: experts.
April 30, 2012... The infant mortality rate in Pakistan is very high and there has been no decline in malnutrition rate in children under the age of 5 over the past 30 years, health specialists agreed on Sunday. They were speaking at a dialogue forum on...

PTCL holds family gala.
April 30, 2012... As part of ongoing employee engagement drive, Pakistan Telecommunication Company Limited (PTCL) held a fun-filled family gala for its employees at the headquarters at the conclusion of its painting extravaganza on "Energy Conservation for Future...

Gas pipeline blown up in Dera Bugti.
April 30, 2012... Unknown men blew up a portion of 16 inches dia gas pipeline in Pirkoh area of Dera Bugti district on Sunday. According to local Levies Force, the damaged pipeline was supplying gas from wells Nos. 15, 17 and 29 to Sui gas plant which had been...

Two killed in Kalat.
April 30, 2012... Unidentified armed men have shot dead two persons in Kalat late night Saturday. Police told APP that unidentified gunmen opened fire at two persons in Dasht-e-Goran area of Kalat district, killing them on the spot. The assailants managed to...

Intermittent rains disturb harvesting in upper, central Punjab.
April 30, 2012... Byline: RECORDER REPORT The unstable atmospheric conditions and intermittent rains associated with thunder, hail and dust-storms during the past fortnight have disturbed the harvesting/ threshing of strategic Kharif crops including wheat,...

PML-N for long march to remove President, Prime Minister.
April 30, 2012... Byline: RECORDER REPORT Central leader of Muslim League-N and Member National Assembly Kh Saad Rafiq has said that if judges can be restored with one long march the corrupt government of Zardari and Gilani can also be removed through another...

Supreme Court's clarification.
April 30, 2012... With reference to the statement of Federal Law Minister appearing today (Sunday) in media, taking exception to the letters of Assistant Registrar (Implementation), Supreme Court of Pakistan addressed to the Speaker, National Assembly and...

Pre-budget seminar: corporate IT rate cut to 25 percent for listed, unlisted companies proposed.
April 30, 2012... Byline: RECORDER REPORT Institute of Cost and Management Accountants of Pakistan (ICMAP) and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) have organised a pre-budget seminar the other day. According to details, Asif...

Four more die in Lyari clashes.
April 30, 2012... Byline: RECORDER REPORT Four more persons, including a CID official, lost their lives in Lyari on Sunday as gangsters and policemen battled for the area's control and heavy gun battles raged for the third consecutive day. As many as 19...

FBR restores posts without jurisdiction orders.
April 30, 2012... Byline: SOHAIL SARFRAZ Following abolition of posts of Federal Board of Revenue (FBR) Members Domestic Operations North and South few years back, the FBR has restored similar kind of posts under the name of Director Generals Inland Revenue...

Core Values - foundation of everything we do at DuPont: CEO Tauqir Ahmed.(Company overview)
April 30, 2012... Do you use a cellophane, PDA or laptop? Do you enjoy cooking? Are you a car enthusiast? Do you change your toothbrush regularly? If you answer YES to any of these questions, chances are you carry a DuPont product without even realising it....

Pak-US ties have bright future: Munter.
April 30, 2012... Ties between Pakistan and the United States have a bright future and US hopes for a long-term relationship with Pakistan, US Ambassador Cameron Munter said on Sunday. Interacting with reporters during a visit to the Shalimar Gardens, Ambassador...

Rana Sanaullah flays Chaudhry brothers.
April 30, 2012... Byline: RECORDER REPORT Provincial Minister for Law Rana Sanaullah has said that it has been a policy of Chaudhry brothers to join government for getting benefits. He asked Shujaat Hussain to produce immediately if he had any proof of running...

Contraband items, narcotics worth Rs 960 million seized.
April 30, 2012... Ministry of Interior has seized contraband items and narcotics of around Rs 960 million in seven months under their campaign to control smuggling. A senior official at the Ministry on Sunday said during the period, the authorities concerned...

Petition against selection criteria of SRB chairman: SHC summons chief secretary, selection body chief.
April 30, 2012... Byline: YASIR BABBAR The Sindh High Court (SHC) is learnt to have called Sindh's chief secretary and chairman of the committee tasked with the selection of the chairman of the Sindh Revenue Board (SRB) to appear on May 15 in a petition filed...

CEC asks Nadra to expedite revision of electoral rolls.
April 30, 2012... The Acting Chief Election Commissioner of Pakistan Justice Shakirullah Jan Sunday directed Nadra to expedite the revision of electoral rolls. During a visit to Nadra Headquarters to see the process of revision of the electoral rolls, he observed...

Quetta-Taftan railway track blown up.
April 30, 2012... Unidentified armed men blew up a portion of Quetta-Taftan railway track late night Saturday. Police said that unidentified persons attached explosive material with railways track passing through Ahmadwal area of Noshki district and detonated it....

Military ties backbone of Pak-China relationship: Masood.
April 30, 2012... China is a staunch ally of Pakistan and the relationship between the two countries remain strong and resilient as it is based on solid foundations of mutual trust, unanimity of views and strong support for each other's sovereignty, said...

Malik cannot mislead masses through baseless allegations: PML-N leader.
April 30, 2012... Byline: RECORDER REPORT Pakistan Muslim League-N leader Senator Pervaiz Rashid has said that Rehman Malik has been hiding the secrets of the money got illegally by his masters throughout his life and now he is making all out efforts to...

'Agriculture research vital to achieving food security'.
April 30, 2012... Pakistan Agricultural Research Council (PARC) is focusing on emerging issues for advancement of agriculture sector as agricultural research is the key factor for achieving food security in the country, said Sardar Ghulam Mustafa, Director Public...

Munawar Zarif remembered.
April 30, 2012... The 36th death anniversary of versatile actor and comedian Munawar Zarif was observed on Sunday. Munawar Zarif was a famous comedian and film actor. He was a versatile actor and comedian best known for his work in the Pakistani cinema of the...

Evidence of Sharifs' corruption to be presented in Supreme Court: Malik.
April 30, 2012... Byline: NAVEED BUTT Federal Minister for Interior Rehman Malik on Sunday said that he had evidence related to the corruption of the Sharif brothers and it would be presented in the Supreme Court via the Attorney General of Pakistan. Talking...

Banks to begin receiving Hajj applications from Wednesday.
April 30, 2012... The designated banks would start receiving Hajj applications from Wednesday (May 2) from the intending pilgrims on the first come first serve basis. According to an official, the applications would be received till May 11. The main reason...

'Omega-3 foods prevent eye disease in seniors'.
April 30, 2012... Eating a diet rich in omega-3 fatty acids appears to protect seniors against the onset of a serious eye disease known as age-related macular degeneration (AMD). Researchers did a fresh analysis of a one-year dietary survey conducted in the early...

Militancy and flood-hit SMEs keenly seek ERKF grant.
April 30, 2012... Byline: RECORDER REPORT Application forms for seeking financial grant under Multi-Donor Trust Funded (MDTF) project for economic revitalisation of the crises affected entrepreneurs of Khyber Pakhtunkhwa and Fata had started flooding the...

Four-day SUIT sports gala concludes.
April 30, 2012... Byline: RECORDER REPORT Federal Secretary, Inter-Provincial Co-ordination (IPC), Anis-ul-Hasnain Mosvi has said that private educational institutions are playing important role in the development of the country and nation. He was addressing...

Truly progressive tax regime needed.
April 30, 2012... In a surprise move, the Federal Board of Revenue (FBR) on 24th April, 2012 abolished 0.2 percent withholding tax (WHT) on cash withdrawals from bank accounts, exclusively dedicated for authorised business-related transactions of the exchange...

Milking the captives.
April 30, 2012... The federal government is reportedly seriously considering substantially enhancing the income tax rate on the salaried class in the forthcoming budget for the fiscal year 2012-13. There is no doubt that this is the easy, though the most...

Options before President.
April 30, 2012... Byline: ANJUM IBRAHIM Prime Minister Yousaf Raza Gilani's conviction on contempt charges and the resulting support by party co-chairman President Asif Ali Zardari has once again led to battle lines being drawn on political grounds. The PPP...

Future of the federation!
April 30, 2012... Byline: M. S. HASAN (KARACHI) After the April 26 Supreme Court conviction of Prime Minister Yousaf Raza Gilani in a contempt of court case, Pakistan has earned the singularly unique 'distinction' of being the only nation where the president...

Aaj TV - Monday's schedule.
April 30, 2012... Byline: RECORDER REPORT 06:00 News Hour 06:25 Headline News 06:30 News Hour 06:55 Headline News 07:00 Qaidi Number 07:25 Headline News 07:30 Qaidi Number 07:55 Headline News 08:00 News Bulletin 08:25 Headline News 08:30 Aaj Market (Morning)...

Your rupee last week.
April 30, 2012... ======================================================================================================== T T CLEAN BUYING AUTHORIZED DEALERS RATES PER ONE UNIT OF CURRENCY...

Returns on Profit and Loss Sharing Investment Bank Accounts (JULY TO DECEMBER 2011).
April 30, 2012... Byline: RECORDER REPORT ======================================================================================================================== = RETURNS ON PLS INVESTMENTS (JULY TO DECEMBER 2011) (PERCENT)...

No head money on Hafiz Saeed: Munter.
April 29, 2012... Byline: HAMID WALEED There is no head money on Hafiz Muhammad Saeed, US Ambassador Cameron Munter said on Saturday. Talking to media persons on the third annual dinner of the American Business Forum, he said that the money had been allocated...

Supreme Court to resume NICL case hearing from May 3.
April 29, 2012... Byline: KHUDAYAR MOHLA The Supreme Court will resume the hearing of the multi-billion-rupee National Insurance Company Limited (NICL) case after a four-month-long break on May 3, implicating PML-Q's top leadership and their kith and kin. A...

Supreme Court to resume NICL case hearing from May 3.
April 29, 2012... Byline: KHUDAYAR MOHLA The Supreme Court will resume the hearing of the multi-billion-rupee National Insurance Company Limited (NICL) case after a four-month-long break on May 3, implicating PML-Q''s top leadership and their kith and kin. A...

Sharifs accused of illegally transferring $32 million abroad.
April 29, 2012... Byline: FAZAL SHER Interior Minister Rehman Malik on Saturday accused the Sharif brothers of illegally transferring $32 million abroad. According to him, he will form a commission to probe the matter. Addressing a press conference, he said he...

Gilani says needs no permission to enter parliament.
April 29, 2012... Byline: JALIL HASSAN AKHTAR Prime Minister Yousuf Raza Gilani on Saturday said he did not require any permission from the opposition leader to enter the National Assembly because he was a unanimously elected prime minister and a member of the...

Prime Minister, cabinet functioning constitutionally: Naek.
April 29, 2012... Byline: WASIM IQBAL Law Minister Farooq H Naek reiterated that Prime Minister Syed Yousuf Raza Gilani and his cabinet was functioning constitutionally, as the Supreme Court of Pakistan had not given any specific directive for the...

Dumping duty: NTC helps Pakistani exporting firm win case in Canada.
April 29, 2012... Byline: RECORDER REPORT National Tariff Commission (NTC) has persistently pursued an anti-dumping duty case against a Pakistani exporting to Canada at the international level, which helped in winning the case against the exporting firm...

Cigarette makers: DGI&I for forensic audit of two MNCs.
April 29, 2012... Byline: SOHAIL SARFRAZ Directorate General of Intelligence and Investigation Customs Federal Board of Revenue has recommended forensic audit of the two multinational cigarette companies to thoroughly scrutinise their tax record for detection...

Illegal input tax adjustment: Amnesty scheme likely for 'claimants' booked in FIRs: FBR.
April 29, 2012... Byline: RECORDER REPORT The Federal Board of Revenue is likely to launch an amnesty scheme during current fiscal year (2011-12) for persons against whom cases have been framed for claiming illegal input tax adjustment by the Directorate...

CJP bestowed International Jurists Award 2012.
April 29, 2012... Chief Justice Iftikhar Muhammad Chaudhry has been bestowed the prestigious and world-renowned "International Jurists Award - 2012" for his unique and tremendous contribution in the field of administration of justice, which is being awarded by...

$21.641 million foreign investment witnessed this month.
April 29, 2012... Byline: RECORDER REPORT The foreign investors' interest continued as healthy inflow of 21.641 million dollars of foreign investors portfolio investment was witnessed at the local equity market during the current month. According to the...

$21.641 million foreign investment witnessed this month.
April 29, 2012... Byline: RECORDER REPORT The foreign investors'' interest continued as healthy inflow of 21.641 million dollars of foreign investors portfolio investment was witnessed at the local equity market during the current month. According to the...

Shahzain Bugti surrenders voluntarily.
April 29, 2012... Shahzain Bugti, a leader of the Jamhoori Watan Party (JWP) and a grandson of late Baloch nationalist leader Nawab Akbar Khan Bugti, on Saturday surrendered voluntarily before police when a heavy contingent of security forces surrounded his...

Tracking, monitoring cargoes: FBR issues procedure.
April 29, 2012... Byline: RECORDER REPORT The Federal Board of Revenue (FBR) has issued a procedure to track and monitor different types of cargoes covering transit cargo, export of petroleum, oil and lubricants (POL) products to Afghanistan and transshipment...

Prices of essential kitchen items show mixed trend.
April 29, 2012... Byline: TAHIR AMIN The prices of essential kitchen items showed mixed trend, as prices of some items registered a nominal decline, while others a little increase during the week under review as compared to the previous week, reveals a survey...

Lyari street war claims 11 lives.
April 29, 2012... Byline: RECORDER REPORT The Lyari remained a war zone for the second consecutive day on Saturday as law-enforcement agencies encountered fierce resistance when they launched an operation against criminal elements in the locality. The area...

Supreme Court verdict does not mention 'Gilani no more Prime Minister': Shujaat.
April 29, 2012... Byline: RECORDER REPORT The Supreme Court has nowhere mentioned in its verdict that Syed Yousuf Raza Gilani is no more the prime minister and the PML-N leadership is interpreting the verdict in a wishful manner, Pakistan Muslim League-Quaid...

Petitions filed against Gilani.
April 29, 2012... Byline: RECORDER REPORT Two identical petitions on Saturday filed before the Lahore High Court to challenge Yousaf Raza Gilani's stay in the Prime Minister's House. Two identical petitions have been filed by Pakistan Tehrik-e-Inqilab chairman...

PML-Q Likeminded demands Prime Minister to step down.
April 29, 2012... Byline: NAVEED BUTT Pakistan Muslim League-Quaid (PML-Q) Likeminded has demanded that Prime Minister Syed Yousuf Raza Gilani should immediately step down. Following in the footprints of main opposition party Pakistan Muslim League-Nawaz...

Dispensation of inexpensive, expeditious justice constitutional duty: CJP.
April 29, 2012... Chief Justice of Pakistan (CJP) Justice Iftikhar Muhammad Chaudhry has said that provision of expeditious and inexpensive justice to all segments of society is the first and foremost priority of the judiciary as provided in the constitution. ...

Crime Review: lawlessness surges in federal capital.
April 29, 2012... Byline: RECORDER REPORT Lawlessness was increasing the sense of insecurity among the residents of the federal capital after six people lost their vehicles and six cases of robbery were reported in various police stations of the city during...

TI Pakistan kicks off advocacy campaigns.
April 29, 2012... Byline: IQBAL MIRZA Transparency International Pakistan has started advocacy campaigns to bring awareness among citizens by providing information on matters of public interest. Executive Director, Transparency International Pakistan Saad...