Business Recorder articles from August 2009

Business Recorder archives from August 2009

Returns on Profit and Loss Sharing Investment Bank Accounts (JANUARY TO JUNE 2009).
August 31, 2009... Byline: RECORDER REPORT ======================================================================================================================== = RETURNS ON PLS INVESTMENTS (JANUARY TO JUNE 2009)...

Alico AIG Life American Life Insurance Company (Pakistan) Limited.
August 31, 2009... Byline: RECORDER REPORT ============================= Investment Bid Offer Sub-Account PKR PKR ============================= Aggressive 74.60 78.33 Balanced 90.23 94.74 Conservative 111.59 117.17 Shariah 87.45...

Your rupee last week.
August 31, 2009... ======================================================================================================== T T CLEAN BUYING AUTHORIZED DEALERS RATES PER ONE UNIT OF CURRENCY...

Aaj TV - Monday's schedule.
August 31, 2009... Byline: RECORDER REPORT 06:00 NEWS BULLETIN 06:25 HEADLINE NEWS 06:30 NEWS BULLETIN 06:55 HEADLINE NEWS 07:00 ANDER KI BAAT RAJA KAY SAATH 07:25 HEADLINE NEWS 07:30 ANDER KI BAAT RAJA KAY SAATH 07:55 HEADLINE NEWS 08:00 AAJ SUBH (LIVE...

Bank: SAMBA BANK LIMITED - Analysis of Financial Statements C Year 2006 - C Year 2008.
August 31, 2009... Crescent Commercial Bank Limited (CCBL or CresBank) was a scheduled commercial bank, licensed by the State Bank of Pakistan under Section 27 of the Banking Companies Ordinance, 1962. CresBank was formed as a result of an agreement between...

Taiwan and China to launch regular cross-strait flights today.
August 31, 2009... Taiwan and China will launch regular cross-straight flights from today, but will keep ceremonies low-key as Taipei is mourning the nearly 700 victims killed by Typhoon Morakot and Beijing is protesting the Dalai Lama's plannned visit to the...

Murderer of Jaleel Andrabi yet to be arrested.
August 31, 2009... Indian Central Bureau of Intelligence (CBI) has completely failed to arrest Major Avtar Singh, in connection with the custodial murder of noted Kashmiri human rights activist, Jaleel Andrabi despite Judicial Magistrate warrants in this regard....

Tailors stop booking for more stitching.
August 31, 2009... Most of the tailor masters of Rawalpindi-Islamabad have stopped further booking for stitching cloths owing to excessive rush much ahead of Eid-ul-Fitr. "We have already taken clothes for stitching till Eid and have no more space to take further...

I want to remove negativity about Jinnah: Jaswant.
August 31, 2009... Veteran politician Jawant Singh has said he wants to remove negativity about Quaid-e-Azam Muhammed Ali Jinnah. 'I want to remove the negativity surrounding Jinnah,' Singh said while talking to people who thronged at a book stall in the book fair...

Beggars flock twin cities.
August 31, 2009... With the blessing of Ramazan, a number of professional beggars throng the twin cities' roads, making it impossible for the faithful to drive their vehicles. As it is the month of charity and exhibiting generosity, hundreds of beggars appear on...

AJK to build longest-ever cable stay bridge over Mangla dam.
August 31, 2009... AJK government has inked a revised Rs 5.82 billion plan for the construction of first ever mega 2km long cable stay bridge over huge Mangla dam reservoir to link Mirpur city with adjoining thickly-populated historic Islamgarh, formerly Akaalgarh...

Prime Minister sends greetings to Kyrgyz government on national day.
August 31, 2009... Prime Minister Syed Yousuf Raza Gilani has sent a message of greetings to the Prime Minister of the Republic of Kyrgyzstan Igor Chundinov on their national day falling on August 31. In his message, the Prime Minister said: "Please accept, on...

Price control measures.
August 31, 2009... Byline: LIEUTENANT COLONEL (Retd) M.A. SADIQ (ATTOCK) The government, by and large, has failed to control the prices of consumer goods. There is confusion at the latest mess created by the government to fix the price of sugar. From Rs thirty...

Issuing NOC to makers of fake products.
August 31, 2009... Byline: ABDUL RAUF KHAN KIRMANI (SHEIKHUPURA) It was shocking to see such irresponsible piece of baseless and distorted reporting of Amir Majeed published in BR on 27th August under the caption 'Four senior directors of MOST sacked, six...

Rehabilitated hockey ground in Mingora inaugurated.
August 31, 2009... The newly rehabilitated Makan Bagh Hockey Ground in Mingora was inaugurated on Sunday by the Provincial Minister for Environment Wajid Ali Khan. Speaking on the occasion, the Minister said that the ground was rehabilitated by Malakand...

Unilever's dividend payout good but sounds alerts.
August 31, 2009... Byline: ANALYSES & COMMENTS BY BR RESEARCH The country's largest FMCG firm, Unilever Pakistan announced its half year 2009 results on Friday showing an earnings slide of 4 percent, mainly due to high distribution cost despite a reasonable...

BAFL's earnings checked by sliding deposits.
August 31, 2009... Byline: ANALYSES & COMMENTS BY BR RESEARCH Bank Alfalah's biggest problem is its declining deposit base. Although the lender has a high concentration in the lucrative consumer segment loans and decent penetration in the non-core segment,...

NFC 2009: a potential light at the end of a very dark tunnel.
August 31, 2009... Byline: ANALYSES & COMMENTS BY BR RESEARCH The government's reputation has been recently battered by a plethora of administrative issues relating to sugar, power and trade policy, amidst others, but the likelihood that a provincial...

'Smokers' paradise' Spain plans tougher ban.
August 31, 2009... Byline: SINIKKA TARVAINEN When Spain toughened anti-smoking legislation in 2006, the measure was hailed as an important step forward in the battle against addiction in the country formerly known as a "smokers' paradise." Three and half years...

Political cauldron.
August 31, 2009... Byline: ANJUM IBRAHIM The latest Gallup poll suggests that 71 percent of the people of this country want "harsh or mild punishment" for former President Musharraf. Should this statistic send a warning to the government? Or should it...

Local government system: MQM has a case.
August 31, 2009... The thorny issue of local government system did come up in the meeting President Zardari had with Altaf Hussain in London on Thursday but, going by the media reports, it appears that differences over this make-or-break question persisted and no...

Need of scientific research stressed.
August 31, 2009... The need of scientific research has become more significant in the present day era. This was stated by the Principal of Bahria University Medical and Dental College, Professor Tipu Sultan, here on Sunday. He was speaking at the concluding...

CDGK sends 40 profiteers to jail.
August 31, 2009... The magistrates of the City District Government Karachi (CDGK) conducted raids in various areas, markets, bazaars and shopping centres on Sunday. A CDGK statement said that 256 profiteers were challaned and fine of Rs 326,000 were recovered. It...

The genesis of an inverted yield curve.
August 31, 2009... It is generally expected that investment of funds in longer dated maturities would yield comparatively higher dividends. Exception to this usual behaviour was observed when lower cut-off rates were offered on 12 months paper, compared to the six...

Withered buntings, flags collected, lowered into sea.
August 31, 2009... The withered buntings and national flags were collected from streets and other places by the volunteers of Chhipa Welfare Association and then disposed of in a respectable manner by lowering into the sea. This was announced in a statement of the...

Shopkeepers fined for overcharging.
August 31, 2009... Byline: RECORDER REPORT The Executive District Officer Revenue Hyderabad in a statement has informed that the Revenue Officers having special judicial powers have recovered a total fine of Rs 11, 900/- from 49 shopkeepers and persons on...

Five factories raided for using unhygienic fat.
August 31, 2009... A team headed by deputy district officer Revenue and Special Judicial Magistrate New Karachi town Sunday raided five factories in sector 6-B Industrial Area, New Karachi town where fat of various animals brought from slaughter house was being...

Complaint centres set up to control inflated prices.
August 31, 2009... Byline: RECORDER REPORT The DCO Hyderabad Aftab Ahmed Khatri has announced that eleven complaint centres have been established control price hike of essential commodities of daily use, in this connection the staff of Market Committee has been...

No let-up in essentials price rise, business remains at low ebb.
August 31, 2009... Byline: RECORDER REVIEW There was no let up in rise in essential which has started scaling up much before the holy Ramazan, as a result traders were complaining hardly any sales in retail though the first week is about to end. However, on the...

Number of flour stalls increased to 28 in Hyderabad.
August 31, 2009... Byline: RECORDER REPORT The District Food Controller Hyderabad, Salahuddin Shaikh has said that after consultation with the Minister Livestock and Fisheries Sindh the total number of flour stalls has again been increased up to 28 in all four...

Cotton prices fluctuate within narrow margin of Rs 200.
August 31, 2009... The reports of pest-attack specially of Cotton Leaf Curl Virus (CLCV) on cotton crop had certainly sent a wave of concern to cotton market and there were reports of damage to cotton crop in some cotton areas in Punjab, Sindh province being quite...

Aggressive buying causes short supply, increased prices.
August 31, 2009... Byline: SHAFI AHMAD SYED Trading in cotton improved naturally because cotton production was expected in bumper shape, on the other hand manufacturers and exporters of textiles were preparing for rise in exports quantitatively. The spot rate...

Founder Group elected unopposed for ICCI Executive Committee.
August 31, 2009... Founder Group has emerged as unopposed winner in the elections for Executive Committee Members of Islamabad Chamber of Commerce and Industry (ICCI) which fell vacant due to retirement of 10 Executive Members. The Election Commission was...

Prime Minister greets Malaysian Premier on National Day.
August 31, 2009... Prime Minister Syed Yusuf Raza Gilani has sent his Malaysian counterpart Dato Seri Mohd Najib bin Haji Tun Abdul Razak's way a congenial message to felicitate him on the arrival of August 31, the National Day of Malaysia. In his message, the...

Infrastructure development vital for expeditious progress: Shahbaz.
August 31, 2009... Byline: RECORDER REPORT Punjab Chief Minister, Mian Muhammad Shahbaz Sharif has said that development of infrastructure was of vital important to expeditious progress of the province and all available resources were being utilised for this...

NBF to award Rs 1.2 million to best writers of kids' Literature.
August 31, 2009... National Book Foundation (NBF) would award Rs 1.2 million to the best writers of 'National Writing Competition 2009-10'. Afshan Sajid, Assistant Director NBF said that the writers can send three copies of their writing material in English, Urdu...

Autonomous status to Northern Areas: Yasin Malik expresses concern over government decision.
August 31, 2009... Byline: RECORDER REPORT Expressing serious concerns over the government's decision to give Northern Areas autonomous status, Chairman Kashmir Liberation Front Yasin Malik said that Pakistan broke its promise of not intervening in the matter...

People of Northern Areas rejoiced over government package.
August 31, 2009... The dwellers of Northern Areas have warmly rejoiced Federal government's initiative to introduce a reform package aimed at turning the area into a prosperous place. Describing the step as a landmark achievement, they said the government won...

Northern Areas as Gilgit-Baltistan: Rani of Hunza hails government decision.
August 31, 2009... Rani of Hunza, Atiqa Ghazanfar has hailed the federal government's decision of naming Northern Areas as Gilgit Baltistan. Talking to VOA Rani said, "It is the desire of the people that Chief Minister, Gilgit-Baltistan should be powerful. It...

Former Prime Minister AJK applauds empowerment of Northern Areas.
August 31, 2009... Former Prime Minister of Azad Kashmir Sardar Attique Ahmed Khan has welcomed the proclamation of Gilgit- Baltistan, Empowerment and Self Rule Ordinance 2009, saying the step would help bringing the people of Northern Areas in the mainstream of...

Climate moot in Geneva to open today.
August 31, 2009... The five-day World Climate Conference, to be attended by Pakistan, will open on Monday (today) in Geneva to contemplate steps to create a Global Framework for Climate Services. UN Secretary General, seventeen heads of state and as many as 100...

Huge cache of arms seized in Charsadda: DPO.
August 31, 2009... Police have thwarted a sabotage act by seizing huge quantity of arms and other explosive material from a vehicle in Charsadda district on Sunday, DPO Riaz Khan said. He told reporters that police intercepted a suspected vehicle at Sarwaryab...

Mingora blast widely condemned.
August 31, 2009... NWFP Governor, Owais Ahmed Ghani has strongly condemned the suicide bomb attack on police station at Mingora in District Swat and expressed his deep shock and grief over the loss of precious lives. The Governor has described the incident a...

Emergency meeting called to curb cotton virus.
August 31, 2009... Byline: RECORDER REPORT Provincial Minister for Agriculture, Ahmad Ali Oalakh has called the meeting of agriculture scientists on September 1 at Central Cotton Research Institute (CCRI) to overcome the leaf curl virus. According to the...

Special family rooms in jails being constructed.
August 31, 2009... Special family rooms are being constructed in all major jails of the province to facilitate the convicts. Prisons IG Kokab Nadeem Warraich told APP here Sunday that in line with the order of Federal Shariat Court, Punjab Chief Minister Mian...

Ministry urged to screen travellers for H1N1 virus.
August 31, 2009... The Ministry of Health has been urged to take preventive measures like proper screening of incoming passengers to check any importation of the H1N1 virus that causes Swine Flu. Citizens complained that due to inappropriate arrangements at...

Dwellers of 'Kutchi abadis' to be provided plots.
August 31, 2009... Byline: RECORDER REPORT Punjab government has formulated a comprehensive plan costing Rs 2 billion for the construction of multistoried flats at each divisional headquarter of the province. Official sources told Business Recorder here on...

Rs 12 billion allocated for 10 DHQs hospitals' emergency wards.
August 31, 2009... Punjab government has earmarked Rs 12 billion for setting up ultra modern emergency wards in 10 district headquarters (DHQs) hospitals of the province. Official sources told APP here Sunday, that under the programme medical facilities including...

Four persons burnt alive.
August 31, 2009... Byline: RECORDER REPORT At least four persons, including a woman died on the spot while another seven passengers sustained serious burn injuries when a CNG cylinder fitted in the van exploded with a bang. The injured were shifted to burn unit...

'Indian troops occupying over 2.7 million kanals of Kashmiris' land'.
August 31, 2009... The Jammu and Kashmir Tehreek-e-Hurriyet (TH) has disclosed that Indian troops have not occupied 1,050,000, but over 2,750,000 kanals of land in occupied Kashmir. Tehreek-i-Hurriyet said that it had collected record of the occupied lands and...

Transporters fleecing commuters.
August 31, 2009... Byline: RECORDER REPORT The CNG-fitted public transport vehicles plying on various routes in Multan city and on inter-city routes like Muzaffargarh, Dera Ghazi Khan, Bahawalpur, Layyah, Alipur, Jatoi, Seetpur, Kotadu, Taunsa Sharif, Dera...

Opposing views put revival of student unions on hold.
August 31, 2009... It was announced to revive student unions in colleges more than a year back but the idea got stuck in a debate and the notification for the purpose has yet to be issued and no strategy has been formulated to implement the decision. Without...

Mirwaiz appeals for world help to trace missing persons.
August 31, 2009... The APHC Chairman, Mirwaiz Umar Farooq, on the occasion of the International Day of the Disappeared appealed to the world community to play its role in finding out whereabouts of thousands of innocent Kashmiris missing in Indian troops' custody....

Sasta Ramazan bazaars set up throughout Punjab.
August 31, 2009... The Provincial Minister for Population Welfare, Neelam Jabbar Chaudhry said that the government has set up Sasta Ramazan bazaars throughout the province, so that the sugar, ghee, atta and other consuming items could be available in sufficient...

Kaira felicitated.
August 31, 2009... The Sindh Ministers Syed Murad Ali Shah and Syed Ali Mardan Shah have felicitated Federal Minister for Kashmir and Northern Areas (KANA) Qamar Zaman Kaira who is set to become the first Governor of Gilgit-Baltistan. Copyright 2009 APP...

Fazl assures for gas supply to Bannu.
August 31, 2009... Chief of Jamiat Ulema Islam-Fazl (JUI-F), Maulana Fazl-ur-Rehman has assured that he is in contact with concerned authorities to provide natural gas to the people of Bannu. He said this during a meeting with JUI-F delegation from Bannu here on...

Kaira rejects Khar's accusations.
August 31, 2009... Minister for Information and Broadcasting Qamar Zaman Kaira Sunday outrightly rejected the baseless accusations of former Governor Punjab Ghulam Mustafa Khar that the Aiwan-e-Sadr was patronising vilification campaign against him and the fellow...

Gilgit-Baltistan Empowerment and Self Governance Order 2009: constitutional package seems to fail in meeting long-standing demands.
August 31, 2009... Byline: PEER MUHAMMAD The new much publicised constitutional package for Gilgit-Baltistan "Gilgit Baltistan Empowerment and Self Governance Order - 2009", which hit the headlines of the national media, now is being considered yet another...

Pervaiz Elahi asks Shahbaz to resign.
August 31, 2009... Senior leader PML(Q) Ch. Pervaiz Elahi has asked Punjab Chief Minister Mian Muhammad Shahbaz Sharif to resign since his government has badly failed to deliver. Common man is facing the flour, sugar, wheat and fertiliser crises due to the poor...

Punjab government distributes nine million 20kg flour bags: minister.
August 31, 2009... Byline: RECORDER REPORT Punjab government has distributed 9 million flour bags of 20 kg each and 10,000 matric ton of sugar at subsidised rates to the people during the past 12 days as part of the Ramazan package. Talking to Business...

People's rights protection to be ensured: minister.
August 31, 2009... Byline: RECORDER REPORT Federal Minister for Population Welfare Dr Firdous Ashiq Awan has said that government was striving hard to ensuring socio-economic justice and for the protection of people's rights in the country. Talking to...

Absence of Zakat Committees: deserving people may again remain deprived of Zakat.
August 31, 2009... Hundreds of thousands of deserving people in Punjab are likely to be once again deprived of Zakat money, owing to non-existence of Zakat Committees at provincial, district and local levels. Punjab Zakat and Ushar Department's Secretary, Kazi...

Government succeeds in controlling militancy: Rehman Malik.
August 31, 2009... Minister for Interior Rehman Malik said on Sunday that the government has been successful in controlling militancy and terrorism and areas of Swat, Dir, Bajaur and Mohmand agencies have been cleared of militants. He was addressing a selected...

'Promotion of science, technology need of the hour'.
August 31, 2009... Byline: RECORDER REPORT A girl student, Hafiza Sakeena Sania, who demonstrate outstanding performance in matriculation examination, met Chief Minister Punjab Muhammad Shahbaz Sharif along with her parents here at Chief Minister's Secretariat...

'Punjab government taking steps to introduce uniform education system'.
August 31, 2009... Byline: RECORDER REPORT Punjab government under the leadership of Shahbaz Sharif is taking practical steps to introduce uniform education system in the province and under this programme the subjects of maths and science would be taught in...

Search operations in Swat and other areas under way.
August 31, 2009... Byline: RECORDER REPORT Security forces conducted search operation in Bampur Sar, Sar Colony, Minglour, Banjot and Sabar Shah and apprehended six suspects. Besides, two terrorists were apprehended in a search operation conducted in Garai...

Establishment's specific mindset responsible for Bugti's killing: Shujaat.
August 31, 2009... PML-Q president Shujaat Hussain has said that "a specific mindset in the establishment" is responsible of killing of Akbar Bugti, and his party would support registration of case against the accused of this murder. Addressing a news...

Heavy rain expected today.
August 31, 2009... Byline: RECORDER REPORT The Meteorological department has forecast fairly widespread moderate to heavy rain with thunderstorm over Sindh for today (Monday). Scattered rain is also predicted over NWFP, northern Punjab and Kashmir. In its...

US officials call on Pir Ahsanuddin.
August 31, 2009... Byline: RECORDER REPORT Representatives of US Sate Department, Mark Palermo and Dr Warren Weinstein, called on Advisor to Chief Minister Punjab on Economic Affairs and Vice Chairman Punjab Board of Investment & Trade (PBIT), Pir Saad...

Dr Abdul Qadeer Khan free to go anywhere: Police.
August 31, 2009... Federal capital police here on Sunday said that there was no restriction on the movement of renowned nuclear scientist Dr Abdul Qadeer Khan as directed by the court. A police spokesman said that Dr Abdul Qadeer Khan was a free man to travel or...

Altaf condemns Mingora blast.
August 31, 2009... Chief of Muttahida Qaumi Movement (MQM), Altaf Hussain has strongly condemned the blast near Mingora police station on Sunday. In a statement issued by MQM here, he said Ramzan-ul-Mubarak is a month of blessings and those elements, who shed...

MONEY WEEK: budgetary borrowings from SBP plummet to Rs 26 billion.
August 31, 2009... Byline: RECORDER REVIEW Budgetary borrowings from the central bank--State Bank of Pakistan--registered a quantum drop during the week ended on August 15, 2009. By the end of the previous week, the government had borrowed Rs103 billion to...

PNS Khaibar leaves to participate in anti-piracy operations.
August 31, 2009... Pakistan Navy Ship Khaibar departed Sunday for participation in Anti-Piracy Operations in the Gulf of Aden as part of Task Force-151. An ISPR (Navy) statement here said that it is the second Pakistan Navy Ship deployed with TF-151 which will...

MONEY WEEK: budgetary borrowings from SBP plummet to Rs 26 billion.
August 31, 2009... Byline: RECORDER REVIEW Budgetary borrowings from the central bank--State Bank of Pakistan--registered a quantum drop during the week ended on August 15, 2009. By the end of the previous week, the government had borrowed Rs103 billion to...

Local tractors dominate domestic market: experts.
August 31, 2009... Byline: RECORDER REPORT Engineering experts claimed that local tractors completely dominate the domestic market as compared to imported tractors because they are competitive due to usage of a large number of local parts. If the same practice...

Gilani leaves to attend 40th anniversary of Libyan revolution.
August 31, 2009... Prime Minister Syed Yousuf Raza Gilani left here on Sunday to attend the 40th anniversary of Libyan revolution. On the sidelines of the anniversary celebrations he would hold meetings with Libyan and world leaders to apprise them of Pakistan's...

Industrialists resent Rs two million/acre PDC raise by PQA: land transfer fee, NUF revised.
August 31, 2009... Byline: ISMAIL DILAWAR The Port Qasim Authority (PQA) has enhanced the rate of Peripheral Development Charges (PDC) by 100 percent, or Rs 2 million per acre, for all categories of allotment lands in its industrial estate, except the area for...

Detailed scrutiny of data: Anti Evasion Cell picks five top sectors.
August 31, 2009... Byline: SOHAIL SARFRAZ The ''Anti-Evasion Cell'' of the Federal Board of Revenue (FBR) has picked five top sectors-cement, sugar, beverages, cigarettes and lubricants-for detailed scrutiny of data to check any kind of evasion of duties and...

Detailed scrutiny of data: Anti Evasion Cell picks five top sectors.
August 31, 2009... Byline: SOHAIL SARFRAZ The 'Anti-Evasion Cell' of the Federal Board of Revenue (FBR) has picked five top sectors-cement, sugar, beverages, cigarettes and lubricants-for detailed scrutiny of data to check any kind of evasion of duties and...

KSE index surges by 433.28 points.
August 31, 2009... Byline: RECORDER REVIEW Healthy buying was witnessed at Karachi share market during the week ended on August 28, 2009 as a result of which the KSE-100 index surged by 433.28 points, or 5.3 percent, to close at 8,541 points against 8107.94...

World Bank asks FBR to remove IMS/PRAL functions overlapping.
August 31, 2009... Byline: RECORDER REPORT The World Bank (WB) has urged the Federal Board of Revenue (FBR) to remove overlapping of functions between FBR Information Management Wing (IMS) and Pakistan Revenue Automation Limited (PRAL) to clearly define...

Phutti price likely to be fixed at Rs 1,500/40 kg.
August 31, 2009... Byline: MUSHTAQ GHUMMAN The government is likely to fix seed-cotton (phutti) intervention price at Rs 1500 per 40 kg for the base grade 3, with staple length 1-1/32 during 2009-10, an increase of Rs 35 (less than one rupee per 40 kg of Rs...

Steel dealers go on strike against FIA investigation.
August 31, 2009... Byline: RIZWAN BHATTI Pakistan Steel Mills Corporation''s dealers have gone on strike and have decided not to do business with the corporation unless FIA investigations stopped completely. Pakistan Iron Steel Merchant''s Association, a...

Steel dealers go on strike against FIA investigation.
August 31, 2009... Byline: RIZWAN BHATTI Pakistan Steel Mills Corporation's dealers have gone on strike and have decided not to do business with the corporation unless FIA investigations stopped completely. Pakistan Iron Steel Merchant's Association, a...