Business Recorder articles from December 2011, page 6

Business Recorder archives from December 2011

SMS service for voters' verification from February.
December 29, 2011... Byline: FARRUKH JAMAL PASHA Election Commission of Pakistan (ECP) and National Database and Registration Authority (Nadra) have agreed to initiate SMS service for voters' verification from February for which an MoU has also been singed with...

Provision of computers, laptops by USAID: jubilation among Water, Power Ministry officials.
December 29, 2011... Byline: RECORDER REPORT The United States Agency for International Development (USAID) has sought to improve efficiency in Ministry of Water and Power through provision of computers and laptops. This has led to jubilation among even those...

120 get training under RAHA's EU-funded programme.
December 29, 2011... Byline: RECORDER REPORT Refugees Affected and Hosting Areas (RAHA) Programme in Khyber Pakhtunkhwa, has imparted training to 120 persons in different skills under the European Union-funded programme. Under the programme, unemployed youth,...

Two girls killed in road accident.
December 29, 2011... Two minor cotton picking girls were tragically killed in a tractor-trolley accident here on Wednesday. According to police, a tractor trolley, carrying about 50 cotton-picking women, overturned killing Abida (15) r/o Chak 231 WB and Misbah (13)...

Khyber Pakhtunkhwa to spend Rs 236 million on development of tobacco producing areas.
December 29, 2011... Byline: RECORDER REPORT Chief Minister Khyber Pakhtunkhwa Ameer Haidar Khan Hoti said that utilisation of resources of Tobacco Development Cess on development of tobacco producing areas has yielded positive results and the process will be...

Waseela-e-Haq training workshop concludes.
December 29, 2011... The 10-day Waseela-e-Haq training workshop under the aegis of Benazir Income Support Programme (BISP), which was attended by as many as 24 selected through balloting under BISP Waseela-e-Haq programme, successfully concluded in Karachi, says a...

'PTI gaining popularity in Khyber Pakhtunkhwa'.
December 29, 2011... Byline: RECORDER REPORT Former PTI provincial president, Asad Qaisar on Wednesday said the Karachi public gathering was proof that the people wanted real change in the country. Speaking at news conference, here at Peshawar Press Club, he said...

PTI's rally in Balochistan: preparations well underway.
December 29, 2011... Byline: ZULFIQAR AHMAD After putting up a successful show of street power in Lahore and Karachi, preparations are in full swing for Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan's grand rally in Balochistan on March 23. During his public...

SHC disposes of contempt application against SSGC.
December 29, 2011... A division bench of Sindh High Court (SHC) after assurance of implementation of the court's order disposed of contempt application against Sui Southern Gas Company (SSGC) here on Wednesday. In the contempt application, moved by All Pakistan CNG...

Registration of illegitimate children: Supreme Court asks provincial governments, DCOs to submit report.
December 29, 2011... Byline: RECORDER REPORT The Supreme Court (SC) on Wednesday directed the provincial governments and district co-ordination officers (DCOs) to submit report on the registration of illegitimate children within two weeks. A three-member bench...

Royal Palm Golf Club: NAB board okays probe into illegal lease of land.
December 29, 2011... The Executive Board of NAB authorised investigation into mega case regarding illegal leasing of land to the Royal palm Golf Club in Lahore and also directed to ascertain the loss caused to the state in this case. The decision was taken in the...

Karachi University notification.
December 29, 2011... Byline: RECORDER REPORT University of Karachi's Director Admissions has announced that all those candidates of BS degree courses (Morning Programme) who have not been able to submit their admission fee, are allowed to deposit their fee on...

FOCUS Pakistan organises seminar on climate change.
December 29, 2011... Focus Humanitarian Assistance (FOCUS) Pakistan, an affiliate of the Aga Khan Development Network, organised a seminar on 'Climate Change and its Impact', where academics and practitioners shared their views and learning about the trend of...

KSE member directors' election today.
December 29, 2011... Byline: RECORDER REPORT The Karachi Stock Exchange (KSE) members will elect on Thursday five member-directors on the KSE board for the term of 2012. All arrangements have been done for holding annual elections at the KSE main trading hall....

Tax payment, cargo clearance: NBP, SBP field offices to open on December 30, and 31.
December 29, 2011... As requested by the Federal Board of Revenue, the State Bank of Pakistan has issued necessary instructions to SBP BSC field offices and NBP to remain open for extended hours till 10pm on 30th and 31st December 2011, to facilitate trade and...

Preparing plan for infrastructure development: Senator Haseeb asks government to consult trade bodies.
December 29, 2011... Byline: RECORDER REPORT Senator Abdul Haseeb Khan has urged the government to initiate process of consultation with trade bodies to prepare plans for development of infrastructure in the country. Speaking at a meeting of Citizen Social Forum...

Suspension of CNG supply: trade activities slump by 60 percent.
December 29, 2011... Byline: ANWAR KHAN Trade activities on Wednesday slumped by 60 percent due to the weekly suspension of CNG supply in the metropolis. Dull business activities were observed during a visit to different markets in the downtown as a small number...

NPC election: Prime Minister felicitates Journalist Panel on victory.
December 29, 2011... Prime Minister Syed Yusuf Raza Gilani on Wednesday felicitated the Journalist Panel on winning the election of National Press Club. The Prime Minister in a message congratulated President Farooq Faisal Khan and other office bearers of the...

Prime Minister to pay three-day visit to Multan begining today.
December 29, 2011... Prime Minister Syed Yousuf Raza Gilani will pay a three-day visit to city from Thursday (today). Prime Minister Gilani will reach here by his special plane on Thursday. On December 30, he would inaugurate Yousuf Raza Gilani fly-over (Double...

Steve Blakeman, Chief Executive OMD Asia Pacific visits Pakistan.
December 29, 2011... OMD World-wide, one of the largest and most innovative Media Buying & Planning specialists in the world, serves most successful and well-known global brands, with more than 140 offices in 80 countries. Steve Blakeman the Chief Executive of...

Sindh University notification.
December 29, 2011... Byline: RECORDER REPORT The Director Admissions, University of Sindh, has notified the second merit list of Masters Degree programme and posted on University's website at www.usindh.edu.pk. The candidates selected for admissions to Masters...

Nuclear arsenal meant for deterrence, says Kaira.
December 29, 2011... Information Secretary Pakistan Peoples Party's Qamar Zaman Kaira on Wednesday said Pakistan's nuclear arsenal was meant for deterrence and not for belligerence against any country. He made it clear when it would come to defend the country, those...

Gas loadshedding in Sindh.
December 29, 2011... Byline: MOHAMMAD KHAN SIAL (KARACHI) The people of Sindh are surprised to note the PPP government in a flagrant violation of the Constitution and decision of Sindh High Court, is frequently observing gas loadshedding in Sindh. The Sindh High...

Refund of EOBI and social security to textile industry.
December 29, 2011... Byline: SYED IMTIAZ ABBAS HUSSAIN The Ministry of Textile Industry (Mintex), has announced a textile policy 2009-2014 which includes reimbursement of Employees Old Age benefits and Social Security Contribution for women and handicapped...

Supply chain management companies: Advance income tax at importation.
December 29, 2011... Byline: ZAFAR AZEEM Some of the supply chain management company's claim that their business falls within the framework of 'Industrial Undertaking' and hence they are entitled for a lower rate of advance tax at the import stage. The tax...

VIEWPOINT : No need to cry foul.
December 29, 2011... Byline: SAIDA FAZAL The roar with which Prime Minister Gilani delivered his 'state within as state speech' in the National Assembly last Thursday and earlier the same day during an address at a school where he alleged that "intrigues and...

Hunarmand scheme versus job opportunities.
December 29, 2011... Syed Ahmed Mujtaba Gilani, the brother of Prime Minister Yousuf Raza Gilani, revealed that more than 150,000 youths have been trained under the PM's Hunarmand Pakistan programme and are now part of the country's human resource pool. Few would...

Interesting times.
December 29, 2011... President Zardari's moves have never been easy to figure out; so is his speech he made at the graveside of Benazir Bhutto before a large crowd that had gathered there to grieve her fourth death anniversary. To some, it is the last hurrah of a...

'Global CEO Excellence Awards' on January 13.
December 29, 2011... The Global Media Links (GML) and Business Milestones have announced the event of 'Global CEO Excellence Awards 2011' on January 13, in Karachi. According to a statement issued here on Wednesday, the ceremony was being organised to admire the...

Prime Minister urges USF to enhance equitable services to all.
December 29, 2011... Prime Minister Syed Yousuf Raza Gilani as the Chairman of the Board of Universal Service Fund (USF) presided over the 26th meeting of Board of Directors of Universal Service Fund, which was held here on Wednesday. The meeting approved the...

HGOs to face the music for violation of agreement: Ministry.
December 29, 2011... The Ministry Of Religious Affairs would take stern action against Private Hajj Group Organisers (HGOs), who allegedly showed serious negligence in providing facilities to pilgrims and violated their agreements during Hajj-2011. This was stated...

Nawaz-Fazl meeting on the cards.
December 29, 2011... Byline: RECORDER REPORT Pakistan Muslim League-Nawaz (PML-N) President Mian Nawaz Sharif is all set to meet political leaders, including Chief of JUI (F) Maulana Fazl-ur-Rehman, Jamaat-e-Islami leaders Syed Munawwar Hasan and Liaquat Balouch...

Against FBR representations: President upheld over 80 percent of FTO decisions.
December 29, 2011... Byline: RECORDER REPORT President has upheld over 80 percent of the Federal Tax Ombudsman (FTO) decisions against the representations filed by the Federal Board of Revenue during 2010, reflecting authenticity and professionalism in the...

BoK opens branch at Hala Naka Area Hyderabad.
December 29, 2011... The Bank of Khyber (BOK) Hyderabad formally inaugurated a branch at Hala Naka Area Hyderabad in a ceremony, says a press release issued, here on Wednesday. Speaking at the inaugural function, Managing Director Bilal Mustafa said that the BOK...

Shaikh Ayaz's anniversary observed.
December 29, 2011... The 14th death anniversary of a renowned poet, philosopher and writer Shaikh Ayaz was observed on Wednesday across the Sindh. He died on December 28, 1997 and buried at Bhit Shah near the shrine of Shah Abdul Latif Bhitai. The ceremonies to pay...

Annual report-2010: FTO raises issue of 'misuse of appeals' by FBR.
December 29, 2011... Byline: RECORDER REPORT The Federal Board of Revenue has wrongly assumed that mere filing of representations/appeals before the President against the orders of the Federal Tax Ombudsman (FTO) would automatically tantamount to grant of 'stay'...

Tax collection from builder: TI Pakistan questions FBR''s lack of action.
December 29, 2011... Byline: RECORDER REPORT Transparency International Pakistan has questioned the Federal Board of Revenue (FBR) as to why the tax department is reluctant to collect due taxes on the declared assets of one of the prominent builders in...

LHC seeks power loadshedding schedule for VVIPs.
December 29, 2011... Byline: RECORDER REPORT The Lahore High Court Chief Justice here on Wednesday summoned the schedule of electricity loadshedding for VVIPs and premises including those of President, Prime Minister, Governors, Chief Ministers and Ministers. CJ...

Karzai phones Zardari.
December 29, 2011... Afghan President Hamid Karzai telephoned President Asif Ali Zardari on Wednesday night. Spokesperson Farhatullah Babar said that President Karzai inquired about the health of President Zardari, expressed satisfaction that the President had...

Closure of CNG stations: strike to be observed in Sindh on December 31.
December 29, 2011... Byline: RECORDER REPORT Sindh CNG Association (SCNGA) and Karachi Transport Ittehad (KTI) on Wednesday announced that their organisations would observe strike across Sindh particularly in Karachi on December 31, 2011 to express resentment...

Land, police the most corrupt departments: survey.
December 29, 2011... The National Corruption Perception Survey 2011 indicates that the land and property and police are the two most corrupt departments, and education and military, which has been included in NCPS for the first time, are the two least corrupt...

Trade relations with India: panel may grill officials today.
December 29, 2011... Byline: MUSHTAQ GHUMMAN The Commerce Ministry is likely to be grilled by Parliamentary Special Committee on Kashmir on Thursday (today) for showing extraordinary ''efficiency'' in normalising trade relations with India, well informed sources...

Article 184 not restrained by definite limits: Supreme Court tells Haqqani's counsel.
December 29, 2011... Byline: KHUDAYAR MOHLA Resuming her arguments before a nine-member bench of the Supreme Court (SC) on Wednesday, the counsel for former ambassador to the US Husain Haqqani, Asma Jehangir, insisted that the petitions were not maintainable in...

LSE index loses 10.94 points.
December 29, 2011... Byline: RECORDER REPORT Bearish sentiments continued to prevail for the third consecutive day on the Lahore Stock Exchange (LSE) and the equities registered declines amid marginally improved trading turnover. The LSE-25 index lost 10.94...

Equities move both ways on ISE.
December 29, 2011... Byline: RECORDER REPORT Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 7.55 points, as the...

MoC may notify changes in import/export policy orders.
December 29, 2011... Byline: MUSHTAQ GHUMMAN The Commerce Ministry is likely to notify amendments in 'Import and Export Policy Orders' in a couple of days, to include export of liquor, sources told Business Recorder. The Economic Co-ordination Committee of the...

Trade relations with India: panel may grill officials today.
December 29, 2011... Byline: MUSHTAQ GHUMMAN The Commerce Ministry is likely to be grilled by Parliamentary Special Committee on Kashmir on Thursday (today) for showing extraordinary 'efficiency' in normalising trade relations with India, well informed sources...

BRIndex30 down 15.33 points.
December 29, 2011... Byline: RECORDER REPORT On Wednesday, BRIndex30 opened at 8,350.04 points. It touched an intraday high of 8,373.82 points and an intraday low of 8,314.39 points and closed at 8,334.71 points, which was -15.33 points or -0.18 percent lower...

Cotton buying by TCP: ECC's decision next week.
December 29, 2011... Byline: ASMA RAZAQ & SEEMA SHAFI The Economic Co-ordination Committee (ECC) in its meeting next week will announce the support price of cotton at which the Trading Corporation of Pakistan (TCP) will purchase one million cotton bales with...

Amended SECP rules allow relief to MTS market.
December 29, 2011... As part of the continuous efforts of the Securities and Exchange Commission of Pakistan (SECP) to develop the capital market in the country and to support liquidity for encouraging trading activity and engendering investor confidence, amendments...

Index up 41.21 points.
December 29, 2011... Byline: RECORDER REPORT A positive trend was witnessed at the Karachi share market on Wednesday on the back of investors' interest in some selective stocks mainly in the banking, cement and energy sectors. The benchmark KSE-100 index...

Index up 41.21 points.
December 29, 2011... Byline: RECORDER REPORT A positive trend was witnessed at the Karachi share market on Wednesday on the back of investors'' interest in some selective stocks mainly in the banking, cement and energy sectors. The benchmark KSE-100 index...

FBR chief due to retire in January: no move yet for extension.
December 29, 2011... Byline: SOHAIL SARFRAZ The Chair-man of Federal Board of Revenue (FBR), Salman Siddique, has said that at present there is no proposal to grant him extension beyond his retirement period from third week of January 2012. He told Business...

Centre, Punjab cross borrowing limits.
December 29, 2011... Byline: ZAHEER ABBASI The Federal and Punjab governments have breached the borrowing limits of State Bank of Pakistan (SBP) by overdrawing Rs 34 billion and Rs 50 billion, respectively, sources told Business Recorder. They said that the...

E-banking transactions rose to Rs 12 trillion in fiscal year 2011 second-half.
December 29, 2011... Byline: RECORDER REPORT The value of e-banking transactions aggregated to Rs 12 trillion during the second half of FY11, showing an increase of 19.0 percent as compared to the first half of the year, according to State Bank of Pakistan's...

Pakistan places curbs on export of POL items to Afghanistan.
December 29, 2011... Byline: MUSHTAQ GHUMMAN Pakistan has imposed restrictions on export of petroleum products to Afghanistan and through Afghanistan to Central Asian Republics (CARs) due to massive misuse of the facility for fiscal incentives. According to...

Ogra recommends 46 percent increase in CNG price.
December 29, 2011... Byline: RECORDER REPORT The Oil and Gas Regulatory Authority on the directives of the petroleum ministry has recommended 46 percent increase in the price of CNG, effective January 1, 2012. According to Ogra official, the CNG price for...

Gas prices to be up by 13.98 percent-207 percent from January.
December 29, 2011... Byline: ABDUL RASHEED AZAD The government has decided to increase gas tariff, for different consumers, from 13.98 percent to 207 percent from January 1, 2012. According to sources in the Ministry of Petroleum and Natural Resources, gas prices...

Cotton Spot Rates.
December 29, 2011... Byline: RECORDER REPORT =========================================================================== The KCA Official Spot Rate for Local Dealings in Pak Rupees --------------------------------------------------------------------------- FOR BASE...

Bullion Rates.
December 29, 2011... ================================== In rupees per 10 gram ================================== KARACHI ---------------------------------- Gold Tezabi 24 CT 46585.00 Silver Tezabi 848.57 ---------------------------------- MULTAN...

IT parks to promote economic activities: Hoti.
December 28, 2011... Byline: RECORDER REPORT Chief Minister Khyber Pakhtunkhwa Ameer Haider Khan Hoti has said that establishment of IT parks in Peshawar and Abbottabad was part of special initiatives of the government that were aimed at promoting economic...

Two-day international moot on Management, business and ethics begins today.
December 28, 2011... Byline: RECORDER REPORT COMSATS Institute of Information Technology Lahore Campus is organising two-day 3rd SAICON international conference on "Management, business, ethics and economics" from December 28. This was announced by head of...

Man kills grandmother, hurts mother.
December 28, 2011... A man clubbed to death his grandmother and injured his mother for their refusal to give money for drugs on Tuesday. According to the police source, Ikraam Ullah, an addict resident of a village Wan Miana Tehsil kotmoman, demanded money from his...

Electronic Electricity Meters: FBR acts against manufacturers involved in tax evasion.
December 28, 2011... Byline: RECORDER REPORT The Federal Board of Revenue has launched a countywide drive against the assemblers/manufacturers of 'Electronic Electricity Meters' allegedly involved in evasion of duties and taxes, causing loss to the exchequer. ...

Controversy over FPCCI's presidential candidate: five chambers of Balochistan urge PM, minister to intervene.
December 28, 2011... Byline: N H Zuberi Representatives of five chambers of Commerce and Industry of Balochistan have urged Prime Minister Yousuf Raza Gilani and Federal Minister for Commerce Makhdoom Amin Fahim to direct the Federation of Pakistan Chambers of...

Results of first GEM Pakistan Study revealed.
December 28, 2011... The results of first GEM Pakistan Study were revealed at a ceremony at the city campus of Institute of Business Administration. The ceremony was organised by the Centre for Entrepreneurial Development at IBA and was attended by a number of...

Prisoner escapes from Malir Jail.
December 28, 2011... Byline: RECORDER REPORT An inmate of District Jail, Malir, who was arrested just hours ago, escaped from prison on Tuesday. According to police sources, the prisoner Shahbaz Afridi, who was arrested by Mehmoodabad police over robbery case and...

LHC orders reopening of entry and exit points.
December 28, 2011... Byline: RECORDER REPORT The Lahore High Court here on Tuesday directed Assistant Commissioner Model Town and Secretary Kotlakhpat Fruit and Vegetable Market Committee to reopen the entry and exit points of walls constructed by city district...

Workshop to prevent dengue epidemic held.
December 28, 2011... Byline: RECORDER REPORT A one-day training workshop was organised on Tuesday to prevent dengue epidemic in 2012 for the staff concerned at the Directorate General of Health Services Punjab. Special Secretary Health, Dawood Muhammad Khan...

Number of audit cases finalised by FBR nosedive: World Bank.
December 28, 2011... Byline: RECORDER REPORT The World Bank has noted with concern that the total number of audit cases finalised by the Federal Board of Revenue has nose-dived from 77,000 in 2009-10 to 61,500 in 2010-11, reflecting decrease in audit of 15,500...

Polls to be held in 2013, says Dr Firdous.
December 28, 2011... General elections in the country will be held in their scheduled time, in 2013, said Federal Minister for Information and Broadcasting, Firdous Ashiq Awan at Sukkur airport, on Tuesday. "Political activities prior to polls strengthen democratic...

USAID-Funded Need-Based Merit Scholarship Programme: IMS Peshawar recommends names of 10 more students.
December 28, 2011... Institute of Management Sciences, Peshawar has recommended 10 more deserving students for USAID Funded Need Based Merit Scholarship Programme. The Institutional Scholarship Award Committee, which is selected by Higher Education Commission...

LHC asks IGP to appear before court.
December 28, 2011... Byline: RECORDER REPORT The Lahore High Court on Tuesday asked Inspector General of Police (IGP) Punjab to appear before the court on Wednesday (today) in two identical petitions seeking actions against police officials for not complying with...

Need to impart legal education to lawyers stressed.
December 28, 2011... Byline: RECORDER REPORT Lahore High Court Chief Justice, Sheikh Azmat Saeed has stressed the need for holding seminars at tehsil and district levels to guide young lots as well as impart them legal education. The CJ expressed these views...

Indo-Pak talks on nuclear CBMs: extension in validity of existing accord recommended.
December 28, 2011... Byline: ALI HUSSAIN Pakistan and India expert groups on nuclear confidence-building measures (CBMs) on Tuesday recommended a five-year extension in validity of the existing accord on reducing risk from accidents relating to nuclear weapons....

Financing projects: government may revise gas provision cost criteria.
December 28, 2011... Byline: MUSHTAQ GHUMMAN The government is likely to revise gas provision cost criteria, at the request of gas companies, to provide funds for development projects, or loans at 5 percent, sources in Petroleum Ministry told Business Recorder....

Injecting LPG air mix in gas supply system.
December 28, 2011... Byline: MUSHTAQ GHUMMAN The government is planning to inject liquefied petroleum gas (LPG) air mix in the system which is expected to increase the prices by up to 30 percent, according to official documents available with Business Recorder....

Four percent fiscal deficit unachievable.
December 28, 2011... Byline: ZAHEER ABBASI The government is facing increasing pressure on fiscal deficit with consensus in the Ministry of Finance that projected 4 percent of the GDP forecast in budget 2011-12 documents is simply unachievable. Last year, too,...

Mixed trend on stock market.
December 28, 2011... Byline: RECORDER REPORT The Karachi share market on Tuesday witnessed a mixed trend, as the KSE-100 index kept oscillating between 11,360.69 points intra-day high and 11,286.81 points low before closing at 11,311.38 points with a 1.03 points...

BRIndex30 loses 26.78 points.
December 28, 2011... Byline: RECORDER REPORT On Tues-day, the BRIndex30 opened at 8,376.82 points and remained in red for most of the trading session, except for the first few minutes after market opening. It touched the intra-day high of 8,396.34 points and low...

President makes not-so-veiled attack on CJP.
December 28, 2011... President Asif Ali Zardari used the fourth anniversary of the death of his wife Benazir Bhutto to ensure supporters he would not resign in the face of numerous crises building around him. In a jab at the Supreme Court, he asked about the as yet...

Supreme Court insists it will look into memo issue.
December 28, 2011... Byline: KHUDAYAR MOHLA A nine-member bench of the Supreme Court (SC) on Tuesday adjourned Memogate controversy hearing to Wednesday (today), saying "let the court look into the matter... if the memo is fake the government will stand...

Role of Defence Secretary: Prime Minister Secretariat begins consultations.
December 28, 2011... Byline: WASIM IQBAL The Prime Minister Secretariat has initiated consultations with Establishment Division about disciplinary action against Defence Secretary Lt-Gen Khalid Naeem Lodhi (retd), a contractual employee, sources said. They...

No clash among state institutions: Gilani.
December 28, 2011... Prime Minister Yousuf Raza Gilani on Tuesday said there existed no possibility of a clash among the State institutions provided they all worked within the ambit of the Constitution. In a brief interaction with media persons after offering Fateha...