Business Recorder articles from February 2002, page 5

Business Recorder archives from February 2002

Bio-safety guidelines awaited: Pest, disease resistant crop varieties developed.
February 27, 2002... KARACHI : The National Institute of Biotechnology and other research institutes in the country have developed certain crop varieties, which are resistant to different pests and diseases. Dr Kausar Abdullah Malik, member, Biosciences of...

Punjab fisheries provides 73 million fish seeds to farmers.
February 27, 2002... LAHORE : The Punjab fisheries department is providing 73 million disease-resistant, high quality, fast-growing fish seeds to private farmers of all the provinces to meet the ever increasing need of protein in the country. In an exclusive...

Computer literacy up by 25 percent in 5 years.
February 27, 2002... LAHORE : The information technology-internet, software development, website development, and computer literacy growth has registered 25 percent increase during the last five years. This has been possible due to the government's liberal...

Four die as bus turns turtle.
February 27, 2002... SARGODHA : Four persons were killed, and five others injured when a rashly driven bus turned turtle near the Wajidi Bridge near here on Tuesday. According to details, the bus No FDA 6002 was on way to Bhaira from Jhawarian. When it...

All Parties Hurriyet Conference flays Indian President's statement.
February 27, 2002... OCCUPIED SRINAGAR : The All Parties Hurriyet Conference has strongly reacted to President K.R. Narayanan's policy statement in the Indian Parliament on Monday in which he rejected dialogue with Pakistan and vowed to keep the Indian army...

Pakistan People's Party invites applications from election candidates.
February 27, 2002... Byline: RECORDER REPORT ISLAMABAD : Pakistan People's Party has decided to invite applications from prospective candidates for the National and Provincial Assemblies in the elections proposed for October 2002. The intending...

3 die as pick-up collides with minibus near Gaddani.
February 27, 2002... HUB : Three young picnickers were killed and 12 others received serious injuries when their pick-up, going from Karachi to Gaddani beach, was collided head on with a minibus on the RCD Highway near Gaddani turn on Tuesday. According to...

Omar Shaikh put to identification parade.
February 27, 2002... KARACHI : Ahmad Omar Shaikh, the main accused in Daniel Pearl murder case, was put to identification parade on Tuesday before judicial magistrate Erum Jahangir. Only one witness was produced who reportedly identified the accused. ...

Accountability Court frames charges against Jawed Hashmi.
February 27, 2002... LAHORE : Accountability Court Judge Abdul Ghaffar Khan on Tuesday framed charges against acting President, Pakistan Muslim League (N), Makhdoom Jawed Akhtar Hashmi for acquiring assets worth Rs 38 million and fixed March 12 for recording...

Pakistan Medical Association to conduct proficiency evaluation test on May 1.
February 27, 2002... KARACHI : The Science and Health Council of the Pakistan Medical Association (PMA) will be holding its annual "proficiency evaluation test" (PET) for the medical students on May 1, said a press release issued here on Tuesday. The primary...

Shell Fund offers scholarships for UK varsities.
February 27, 2002... LAHORE : The Shell Centenary Scholarship Fund is offering scholarships to international students to study at any of the six prestigious universities in the United Kingdom. The scholarships are for one-year post-graduate courses in a...

US experts, Interior Ministry officials discuss Automated Border Control system.
February 27, 2002... Byline: RECORDER REPORT ISLAMABAD : A team of US experts of the field of Automated Border Control held a meeting with the officials in the ministry of Interior here on Tuesday. The US experts are assisting Pakistan in establishing a...

Lahore High Court stays dues recovery by Water and Power Development Authority.
February 27, 2002... Byline: RECORDER REPORT LAHORE : The Lahore High Court (LHC) has admitted a petition for regular hearing challenging retrospective increase in electricity tariff, and directed Water and Power Development Authority (Wapda) not to recover...

US ambassador to India praises Musharraf.
February 27, 2002... NEW DELHI : US Ambassador to India Robert Blackwill warned Tuesday of the inherent dangers of the current Indo-Pakistan border military stand-off and spoke of President Pervez Musharraf's courage in pushing his country down a fresh path. ...

15 Brigadiers promoted.
February 27, 2002... RAWALPINDI : The under-mentioned Brigadiers have been promoted to the rank of Major Generals on assumption of new appointments mentioned against each according to an ISPR press release issued here on Tuesday: Brigadier Mohammad...

Forward Mounting Base, International Security Assistance Force allowed duty-free imports.
February 27, 2002... Byline: RECORDER REPORT ISLAMABAD : The Central Board of Revenue (CBR) on Tuesday night notified the procedure for smooth operation of the Forward Mounting Base (FMB), Karachi; International Security Assistance Force (ISAF) for...

Discipline to be ensured in Water and Power Development Authority.
February 27, 2002... Byline: RECORDER REPORT LAHORE : The Water and Power Development Authority (Wapda) has decided to take strict measures for ensuring discipline among its employees. According to the information made available to Business Recorder...

13 killed in road accident.
February 27, 2002... ABBOTTABAD : At least thirteen people died in a road accident in Kala Dhaka, Mansehra district, on Tuesday, witnesses said. Six of the deceased were of the same family. According to the details, a jeep, on its way from Thakot to...

Punjab receives drizzle.
February 27, 2002... LAHORE : A weak Westerly, the second within a week, caused light rain over vast areas of Punjab, NWFP, Northern Areas and Kashmir regions on Tuesday and the system is likely to bring more showers during the next 24 hours. The Punjab...

Yasmeen Jiwa granted bail in Fatimid funds case.
February 27, 2002... KARACHI : The District Session Judge Karachi East Sain Ali Dino Maitlo granted bail in the sum of Rs 500,000 to Yasmeen Jiwa, widow of late Nazim Jiwa in the case registered with the police in connection with the misappropriation funds of the...

National Conference leader shot dead in occupied Srinagar.
February 27, 2002... OCCUPIED SRINAGAR : A leader of the Indian-held Kashmir's National Conference (NC) party, Abdul Rashid Dar, was shot dead by unknown gunmen in his house at Telbal near Srinagar on Monday night. A PTI report quoted sources as saying on...

Police put on red alert.
February 27, 2002... KARACHI : Inspector General of Sindh, Syed Kamal Shah on Tuesday ordered red alert to city police to keep vigil eye on any expected terrorist activity following tragic incident at an Imambargah in Rawalpindi. It may be mentioned here...

Gwadar and Ormara: Chambers Federation seeks land for developing export zones.
February 27, 2002... KARACHI : Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Export Processing & Free Zones has requested the federal and Balochistan governments to allocate at least 200 acres of land each at Gwadar and...

State Bank Pakistan cuts export finance rate to 7 percent.
February 27, 2002... Byline: RECORDER REPORT KARACHI : The State Bank of Pakistan has reduced the rate on export financing by one percent, which will be effective from February 1, 2002. The Bank issued a circular on Tuesday saying that export financing...

Afghan recovery a long way off': Finance ministers holds talks.
February 27, 2002... Byline: NADEEM HUSSAIN ISLAMABAD : As the Afghan Finance Minister, Hidayat Amin Arsala, and his Pakistani counterpart Shaukat Aziz painted a rosy economic future for the two countries at a joint press briefing here on Tuesday, sources...

Eid-ul-Azha celebrated in Pakistan.
February 26, 2002... ISLAMABAD : Eid-ul-Azha was celebrated throughout the country and Azad Kashmir with religious fervour and enthusiasm on Saturday. The day dawned with special prayers for the solidarity, integrity, security and prosperity of Pakistan and...

LME official prices.
February 26, 2002... ============================================================================================================= Aluminium Primary Copper Standard Nickel Silver Tin SHC Zinc ...

State Bank of Pakistan Conversion Rates.
February 26, 2002... Byline: RECORDER REPORT ========================== US Dollar 60.0773 Pound Sterling 85.7123 Deutsche Mark 26.7141 Euro 52.2492 Japanese Yen 0.4493 ...

Remuneration rates payable on maturity of FE-25 funds.
February 26, 2002... Byline: RECORDER REPORT ============================ One Week 2.75 percent One Month 2.95 percent Three Months 3.15 percent ============================ KARACHI : Rates of remuneration...

Barclays bid rates and maximum rates for payment of interest.
February 26, 2002... Byline: RECORDER REPORT ================================================================== FOREIGN CURRENCY ACCOUNTS SCHEME ================================================================== ...

Exchange Rates: Buying and Selling.
February 26, 2002... ================================================= Countries Selling Buying Buying TT&OD TT Clean OD/T.CHQ ================================================= USA 60.40 ...

Currency Notes: Exchange Rates.
February 26, 2002... ============================================= AUTHORISED DEALERS' RATES FOR CURRENCY NOTES ============================================= SELLING COUNTRY BUYING ...

Interest rates on old and incremental foreign currency deposits.
February 26, 2002... ============================================================= INTEREST RATES ON OLD & INCREMENTAL FC DEPOSITS ============================================================= US DOLLAR POUND ST DEUTCH MARK...

Interest rates on new foreign currency deposits.
February 26, 2002... ================================================= INTEREST RATES ON NEW FOREIGN CURRENCY DEPOSITS US DOLLAR ================================================= PERIOD FOR THE MONTH OF FEBRUARY 2002 ...

Bill Buying Rates per unit of currency.
February 26, 2002... ================================================================================ BILL BUYING RATES PER UNIT OF CURRENCY -------------------------------------------------------------------------------- Bill...

Banks' Rates for currency notes (buying and selling).
February 26, 2002... ================================================== NBP EMIRATES ANZ BANK GRINDLAYS ================================================== US DOLLAR ...

Money Market Report.
February 26, 2002... KARACHI : Money market report by Khadim Ali Shah Bukhari & Co for Monday (February 25, 2002). Daily money market comments: The interbank money market on Monday displayed a completely volatile scenario, with rates initiating in the band...

Spot Dollar Rates.
February 26, 2002... ================================================ Ex Inter-Bank Rate PKR vs USD ================================================ Buying Selling HIGH LOW CLOSE ...

Karachi Shipping Intelligence.
February 26, 2002... Byline: RECORDER REPORT =============================================================================== Berth Vessels' Working Agent Berthing No Along side ...

Crescent Capital Management (Pvt) Ltd: Daily Forex Report.
February 26, 2002... Byline: RECORDER REPORT KARACHI : Thin activity was observed in the Interbank Forex Market, on Monday. The rupee seemed quite stable against the greenback after the Eid holidays. The market opened with the levels of Rs 60.10 and Rs...

London Inter-Bank Offered Rates.
February 26, 2002... ====================================================== Rates at 11:00 London time Monday (February 25, 2002) ====================================================== USD GBP CHF EUR JPY ...

Open market rates of foreign currencies.
February 26, 2002... Byline: RECORDER REPORT ============================================================================== BUYING SELLING FC BUYING SELLING BUYING ...

Brief Recordings about TATA TEXTILE MILLS LIMITED (Textile Spinning) -- Year Ended 30-09-2001.
February 26, 2002... Byline: SCANNER OVERVIEW : "During the period under review the company has made a before tax profit of Rs 61.346 million as compared to a pre-tax profit of Rs 142.841 million during the preceding year. "Although the profit of the...

Pakistan rupee: thin business in forex market.
February 26, 2002... KARACHI : Very little activity was seen in the interbank market on Monday as most of the trading centres reopened after the long weekend on account of Eid-ul-Azha. The rupee almost maintained its prevailing levels, shedding two paisa...

Kerb buying and selling rate of US dollar.
February 26, 2002... Byline: RECORDER REPORT ================================ Kerb Buying($) Rs 59.80 Kerb Selling($) Rs 52.65 ================================ KARACHI : Dollar buying and selling rate in the...

Inter-Bank Call Money Rates.
February 26, 2002... Byline: RECORDER REPORT ====================================== Bid Offer ====================================== 1 Week 6.88 7.38 2 Weeks 6.38 ...

Dollar's rate in interbank market.
February 26, 2002... Byline: RECORDER REPORT ============================== Buying Rs 60.12 Selling Rs 60.14 ============================== KARACHI : Inter-bank closing rates for dollar on Monday.

Currency values in term of Special Drawing Rights.
February 26, 2002... ====================================================================================== February 25, 2002 ====================================================================================== ...

Cotton market closes early after exchange of Eid greetings.
February 26, 2002... KARACHI : Cotton market reopened on Monday after Eid holidays, but closed early after exchanging Eid greetings, relevant sources said, adding that Tuesday's session might draw buyers to compensate for the last few days' nominal buying as...

Cotton Spot Rates.
February 26, 2002... Byline: RECORDER REPORT ========================================================================================================== FOR BASE GRADE 3 STAPLE LENGTH 1-1/32" MICRONAIRE VALUE BETWEEN 3.8 TO...

Taiwan unemployment rate falls.
February 26, 2002... TAIPEI : Taiwan's acute unemployment problem appears to be easing with its January jobless rate falling for the third consecutive month, the Liberty Times reported on Monday. The January jobless rate is estimated to have fallen under 5.2...

Indian foreign exchange reserves cross $50 billion mark.
February 26, 2002... BOMBAY : India's foreign exchange reserves crossed the psychologically-important 50 billion dollar mark this month, an official of the Central Reserve Bank of India said Sunday. India's forex reserves stood at 50.208 billion dollars on...

Budget must boost infrastructure to kick-start Indian economy.
February 26, 2002... BOMBAY : Indian industry is looking for a series of infrastructure-boosting measures that will kick-start the sagging economy when Finance Minister Yashwant Sinha unveils his annual budget this week. A wish list from business leaders...

London commodities: Gold, oil prices give up surprise rally in world markets.
February 26, 2002... LONDON : Gold prices fell back this week after its recent surprise rally, as Germany's central bank indicated that it wanted to sell some bullion. Gold gave back roughly half of recent gains that were run up earlier in the month when...

Days are numbered for nine European currencies.
February 26, 2002... PARIS : Days are numbered for nine European national currencies, highly charged emblems of history, prosperity and sovereignty that will cease to be legal tender after Thursday. Along with three others which have already disappeared, the...

US certifies theft of Russian nuclear material.
February 26, 2002... WASHINGTON : An undetermined amount of weapons-grade nuclear material has been stolen in post-Communist Russia, heightening concerns that some of it could have ended up in the wrong hands, the US intelligence community has concluded. The...

Ukrainian aircraft carrier headed for Chinese naval shipyard.
February 26, 2002... HONG KONG : A decommissioned Ukrainian aircraft carrier, which was earlier reported to be destined for use as a floating casino in Macau, is actually headed for naval shipyard in China, a report said on Sunday. A press report said last...

Kuwaitis voice support for strikes on Iraq 11 years after liberation.
February 26, 2002... KUWAIT CITY : Eleven years after liberation in the Gulf War, Kuwaitis say they would back US-led military action if a scenario was worked out for Saddam Hussein's overthrow and the aftermath in Iraq. "Nobody is really enthusiastic about...

Pak-US talks on extradition of Sheikh Omar under way.
February 26, 2002... ISLAMABAD : It is the decided opinion of the United States government -- ratified at the highest level by the President himself -- that the United States would like to see the top suspect Omar Saeed Sheikh and all others implicated in the...

President Musharraf meets defence top brass.
February 26, 2002... ISLAMABAD : The Chairman, Joint Chiefs of Staff Committee (JCSC), General Muhammad Aziz Khan; Vice-Chief of the Army Staff, General Muhammad Yousuf Khan, and Chief of the Air Staff, Air Chief Marshal Mushaf Ali Mir, called on President...

The dilemma of wheat exports.
February 26, 2002... EDITORIAL : The export of surplus wheat is proving to be a hard nut to crack. The reason is that international prices of wheat are considerably lower than the level at which they are maintained in the home market. It was to ensure a...

Pakistanis at Camp X-Ray?
February 26, 2002... EDITORIAL : While the entire civilised world is expressing concern about the inhuman conditions in which Al Qaeda prisoners are being held at Camp X-Ray in Guantanamo Bay, Islamabad seems to be least concerned about the possibility of...

Identifying shared objectives.
February 26, 2002... Byline: SHAHID SCHEIK ARTICLE : While Pakistan can take satisfaction in the confidence expressed in the present leadership and the proposals for a "strategic, long-term relationship" from the highest levels of the US government, there is...

Frightening shortfall in exports.
February 26, 2002... Byline: SAEED MALIK ARTICLE : In the seven months of fiscal year 2001-2002, Pakistan's exports have suffered a decline to the extent of 562 million dollars against the target fixed by the government for this period. By the end of...

Travails of hosiery exporters.
February 26, 2002... LETTER : The President's visit to the USA was very successful from the strategy point of view and was taken very well by the world but as a medium-sized apparel industry hosiery-knitted garment exporters as well as woven garment manufacturers...

Arabs and governance.
February 26, 2002... LETTER : This letter is in reply to an article by Dr Yousuf Boutros Ghalli in defence of the French occupation of Arab land as in his word, the Arabs are not aware of governance. This was the reason behind French occupation of Arab...

Faysal Bank - a Bank with a Mission.
February 26, 2002... Byline: SEEMIN SHAFI ARTICLE : Faysal Bank is a well-known name in the banking sector of Pakistan since 1987. Operations in Pakistan started as a branch operation of Faysal Islamic Bank of Bahrain EC. In 1994, the sponsors who have...

Post-Merger Message from HRH Prince Mohamed Al Faisal Al Saud, Chairman, Faysal Bank Limited.
February 26, 2002... TEXT : With the Grace of Allah, the two financial entities of the DMI Group have successfully been merged in Pakistan. This merger comes as part of the DMI Trust's policy of consolidating the group interests world-wide to enable each...

Post-Merger Message from Farook Bengali, President & CEO, Faysal Bank Limited.
February 26, 2002... TEXT : The year 2002 is the 16th year for Faysal Bank serving the Pakistani economy and market. We started operations in Pakistan, first as a branch set-up of Faysal Islamic Bank of Bahrain and since 1995 as a locally incorporated Pakistani...

Post-Merger Message from Khalid Tirmizey, Country General Manager, Commercial Banking Faysal Bank Limited.
February 26, 2002... TEXT : Faysal Bank is a full service commercial bank catering both to the Corporate and Consumer markets in Pakistan. Faysal Bank has played a pioneering role in the introduction and practice of Islamic Banking in the country. Our...

Post-Merger Message from M. K. Hoti, Country General Manager, Investment Banking, Faysal Bank Limited.
February 26, 2002... TEXT : The merger of erstwhile Al Faysal Investment Bank Limited (AFIBL), the largest investment bank of Pakistan with Faysal Bank Limited (FBL) has resulted in the convergence of investment banking expertise and resources of AFIBL with the...

'Pakistan gets $1.143 billion benefit from US since September 11'.
February 26, 2002... ISLAMABAD : Pakistan has got an unexpected but hefty direct and indirect benefit to the tune of 1.143 billion dollars from the United States since the September 11 incidents. Direct financial benefit includes 600 million dollars grant by...

Cyber cafes to be set up at public libraries.
February 26, 2002... LAHORE : The Punjab Library Foundation has decided to set up Internet cyber stations at nine major public libraries of the province. Director General PLF, Professor Abdul Jabbar Shakir, while talking to APP on Monday said the IT facility...

Environmental pollution endangers human lives.
February 26, 2002... SIALKOT : The environmental pollution and natural resources' degradation problems have endangered not only human lives, but also posed threat to the aquatic life here and Narowal districts, according to a survey conducted by this agency. ...

Ombudsman's order brings relief to complainants.
February 26, 2002... Byline: RECORDER REPORT LAHORE : Following the directive of the Ombudsman, Punjab, Justice Sajjad Ahmed Sipra, the Excise and Taxation Department, Education, and Irrigation Authorities have redressed the grievances of the complainants...

Punjab bans black shopping bags.
February 26, 2002... LAHORE : The Punjab government, in pursuance of the recommendations of the Environment Protection Department (EPD), has imposed ban on manufacturing, sale and use of black shopping bags in the province. Promulgating an ordinance, which...

Hyderabad Chamber concerned over Central Board of Revenue crackdown plan.
February 26, 2002... HYDERABAD : The Chairman, Standing Committee on Sales Tax and Customs duty, Hyderabad Chambers of Commerce and Industry (HCCI), Haji Muhammad Yaqoob, has expressed grave concern over the constitution of tax monitoring teams by the Central...

Petroleum ministry clarifies news item.
February 26, 2002... ISLAMABAD : The Ministry of Petroleum and Natural Resources has clarified a news item appeared in a section of the press regarding the change in the pricing formula for Attock Refinery Limited (ARL). The ministry stated that the...

Secondary School Certificate exam forms can be submitted till February 26.
February 26, 2002... KARACHI : The chairman of the Board of Secondary Education Karachi (BSEK) has allowed submission of examination forms of SSC Part II (Class X) Annual Examination, 2002 for science and general groups (regular and private) with a late fee of Rs...

16 more Export Processing Zones planned.
February 26, 2002... LAHORE : With a view to gearing up industrial activities in the country, sixteen new Export Processing Zones (EPZs) are likely to be established in the country, a source in Export Processing Zone Authority (EPZA) told PPI on Monday. ...

Export Promotion Bureau gets trade queries.
February 26, 2002... KARACHI : The Export Promotion Bureau (EPB) has received trade queries for the supply of pig iron, bed-sheet fabric, polyester raw materials, twine string. A Hong Kong-based company, the World Wide Traders, is interested in bed-sheet...

Diplomats to visit Pakistan Ordnance Factories Wah on February 26.
February 26, 2002... ISLAMABAD : Chairman, Pakistan Ordnance Factories (POF) Board, Lieutenant General Abdul Qayyum Khan, will brief Ambassadors, High Commissioners and Defence Attaches of about 50 countries, regarding production at the factory in Wah on Tuesday....

Sindh Education Department disburses Rs 50 million.
February 26, 2002... KARACHI : The Sindh Education Department has released a sum of Rs 50 million to various districts in the province for upgrading of schools, teachers training and incentives to teachers. This was stated by the Additional Secretary...

'Pearl's killers won't go unpunished'.
February 26, 2002... ISLAMABAD : The Pakistan government has made it clear that those responsible for the kidnapping and the murder of US journalist, Daniel Pearl, would not go unpunished. The government officials say that they are fully trying to trace...