PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 30.04.2012

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 30.04.2012: Rs845bn uplift plan ready for approval ISLAMABAD: The Annual Plan Coordination Committee (APCC) is expected to meet on Wednesday t...

LATEST NEWS UPDATE: 30.04.2012

Rs845bn uplift plan ready for approval

ISLAMABAD: The Annual Plan Coordination Committee (APCC) is expected to meet on Wednesday to approve for the 2012-13 financial year about Rs845 billion worth of Public Sector Development Programme (PSDP) – about 16 per cent higher than the current year’s programme.
Planning Commission Deputy Chairman Dr Nadeemul Haque, provincial ministers for planning and development and secretaries of federal ministries and divisions will attend the meeting on May 2.
Sources told Dawn on Sunday the planning commission had recommended a federal share of Rs370 billion for the development plan, including the foreign exchange component of Rs91 billion. The federal development programme is about 12 per cent higher than the current year’s budgetary allocation of Rs330 billion.
They said the firm commitment development schemes had been kept at Rs350 billion, but another Rs20 billion had been recommended for block allocations to be kept at the disposal of federal ministries.
The final size of the federal PSDP is likely to be increased to about Rs390 billion by the National Economic Council on special directives of the president and the prime minister.
The provincial development plans have been estimated at Rs475 billion for next year, about 10.5 per cent higher than the current year’s allocation of Rs430 billion.
The next year’s allocation for the Earthquake Reconstruction and Rehabilitation Authority has been kept unchanged at Rs10 billion.
The country’s total development budget (federal and provincial) has been estimated at Rs845 billion for the next year against the current year’s budget allocation of Rs730 billion, showing an increase of 15.75 per cent or Rs115 billion.
A special allocation of Rs27 billion has been recommended for the politically-motivated Peoples’ Works Programme for discretionary development schemes to be implemented on the directives of the prime minister and parliamentarians.
The federal ministries had come up with a total demand of about Rs750 billion for development schemes that had been scaled down on the recommendations of the priorities’ committee keeping in view the overall financial envelop indicated by the ministry of finance.
The sources said that the federal government would restrict the current year’s PSDP at Rs300 billion, instead of Rs330 billion allocated in the budget. This is despite the fact that project-related foreign inflows have surpassed the estimates by a wide margin owing to unrealistic estimates made in the last year’s budget.
According to the sources, the government had estimated Rs38 billion foreign exchange inflows for development schemes in the current year’s federal budget that was revised to Rs90 billion.
However, instead of making a proportional increase in development expenditure, the government has reduced the rupee component of development programme by Rs70 billion that has now been diverted to the subsidy account to meet higher requirement of the loss-making power sector.
The government has already slowed down the local currency releases to development schemes as is evident from the Rs155 billion provided for projects in the first 10 months of the current financial year.
The actual releases so far made to the federal projects are slightly higher than the amount spent for development during the same period last year, even though the PSDP was slashed by Rs100 billion last year.
Officials said that while making the next year’s development plan, special emphasis has been placed on projects that are nearing completion coupled with those having international commitments under binding contracts.
They said the PSDP size of Rs845 billion to be cleared by the APCC would be presented to the National Economic Council (NEC) for formal approval before the announcement of the federal budget. The NEC could increase the PSDP’s size in order to enable the government to announce fresh projects to win over voters in coming elections.
The NEC is the country’s highest economic decision-making body headed by the prime minister, with chief ministers of four provinces and Gilgit-Baltistan, the prime minister of Azad Kashmir, governor of Khyber Pakhtunkhwa and federal and provincial ministers for finance and planning its members.

3 gunned down in Sher Shah

area of Karachi while the angry protesters torced two vehicles, Geo News reported Monday.
According to police, miscreants opened fire at Paracha Chowk in Sher Shah that killed one man on the spot while two others were critically wounded.
The injured were shifted to Civil Hospital where they succumbed to thier injuries.
After the killings, protestors set two mini buses on fire while the situation in the area turned tense, causing the business activities to shut.
Rangers and police reached the spot to control violent situation.
Protestors also burned tires and blocked roads in Pak Colony.

LATEST/BRIEF  NEWS:

·       Three gunned down in Sher Shah

·       Five gangsters arrested from Liaquatabad

·       Zawahiri in Af-Pak region: US

·       World Labour Day to be marked tomorrow

·       MQM expedites efforts to get Sindh home ministry

·       What has happened to Aitzaz Ahsan?

Business News Mon, 30 Apr 2012  -Oil lower on concerns over US and eurozone SINGAPORE: Oil prices edged lower in Asia Monday, with investors fretting over stuttering growth in the US as police  -Euro down in Asia on election jitters, Spain ratings cut SINGAPORE: The euro lost ground against the dollar in Asia Monday as wary traders withdrew their money from Europe  -Asian markets edge higher on Wall St lead HONG KONG: Asian markets rose in early trade on Monday, following a positive lead from Wall Street as dealers look  -Even in emerging markets, Nokia''s star is fading NEW DELHI/HELSINKI: Nokia phones once took pride of place in Manish Khatri s Mumbai store, but now models made by  -Samsung coyness puts smartphone crown in dispute NEW YORK: Smartphones are the hottest gadgets in the world. But who s the biggest smartphone maker? We don t really  -Rate of inflation soars by 9.24pc ISLAMABAD: The rate of inflation as measured by consumer price index (CPI) was recorded 9.24 percent up in the wee  -CNG stations in Sindh closed for 24 hours KARACHI: CNG stations across Sindh were closed at 9 am today (Saturday) for 24 hours, Geo News reported. The supply  -RPPs deposit Rs825m in response to NAB notices Asim Yasin ISLAMABAD: In response to the notices, sent by National Accountability Bureau, the Rental Power  -FBR challenges govt?s writ, cancels holiday on Saturday Shoaib A Raja ISLAMABAD: In a deplorable example of continuing idiosyncrasy, Prime Minister Syed Yusuf Raza Gilani -Apple courts EPIX for upcoming TV: sources LOS ANGELES: Apple Inc began talks earlier this year to stream films owned by EPIX, which is backed by three major  -Spanish economy in "huge crisis" after credit downgrade MADRID: Spain s sickly economy faces a "crisis of huge proportions", a minister said on Friday, as unemployment hi  -KSE-100 index slips 23.32 points KARACHI: Karachi Stock Exchange (KSE) fell on Friday on sales of blue-chip National Bank of Pakistan (NBP) after i  -World Bank approves $550 million loan for Pakistan ISLAMABAD: The World Bank s Board of Directors approved two projects totaling US$550 million aimed at supporting P  -Faisalabad industries deprived of gas for three days FAISALABAD: The gas supply was suspended to the industrial sector of Faisalabad for three consecutive days that re  -Dollar firmer ahead of Bank of Japan meeting TOKYO: The dollar was firmer against other major currencies in Asian trade on Friday as investors looked to a Bank
MOHAMMED SALEEM MANSOORI

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE:27.04.2012

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE:27.04.2012: Grand operation begins in Lyari KARACHI: A grand operation began in the early hours of Thursday, in Karachi’s Lyari area where a h...

LATEST NEWS UPDATE:27.04.2012

Grand operation begins in Lyari

KARACHI: A grand operation began in the early hours of Thursday, in Karachi’s Lyari area where a heavy contingent of Police and Frontier Constabulary personnel are taking action against criminal elements, DawnNews reported.
Five people including police personnel were injured in the operation.
CID SSP Chaudhary Aslam Khan was also present during the operation whereas for the first time a squad of the women’s police also took part in the operations.
Law enforcement personnel faced resistance upon their arrival and blockades were placed at all entry and exit points of the area.
A Police armored personnel carrier (APC) came under grenade attack in Nawa Lane area of Lyari. No loss of life was reported in the attack.
Loud explosions and firing were heard in Sango Lane, Cheel Chowk and Aath Chowk areas causing panic and fear to grip the area, leaving the residents of the area confined to their homes.
In the light of the ongoing unrest, April 14′s board examinations of class nine which were  re-scheduled for today were postponed again.
The operations follows earlier events from Wednesday when a policeman was gunned during an exchange of fire with a suspected gangster and  the killing of apolitical activist.

LATEST/BRIEF  NEWS:

·       Khi: Cops under fire in Lyari once again

·       Japan economy at a standstill in March

·        Bin Laden family deported from Pakistan

·       US hopes Pakistan resolves political row

·       Instead of advising PM to resign, Nawaz should apologize for attacking SC: Malik

·       PPP surprises PML-N in Multan by-poll

·       Pakistan needs another $840m: UN

·       Imran demands Gilanis resignation

·       SC decision against Gilani affects market sentiment

 

Business News

Fri, 27 Apr 2012 -Half of EU aid helps middle-income nations: British report LONDON: British lawmakers called for tougher standards on the distribution of Europe s development aid budget after  -Wall Street extends gains on upbeat housing data NEW YORK: U.S. stocks rose for a third day on Thursday after upbeat housing data and tronger-than-expected result  -Google online translation tops 200mn users SAN FRANCISCO: Google Translate marked its sixth birthday on Thursday with news that more than 200 million people  -Oil down in Asia on large US stockpile gain SINGAPORE: Oil fell in Asia Thursday as a larger than expected rise in US crude inventories eroded overnight gains  -Dollar steady ahead of Bank of Japan meeting TOKYO: The dollar was steady against other major currencies in Asian trade on Thursday as investors looked to a Bank  -Asian markets up on Bernanke comments HONG KONG: Asian markets rose Thursday following a cautiously upbeat assessment of the US economy by the Federal R  -Wall Street jumps on Apple''s results, Fed reassurance NEW YORK: Stocks rallied on Wednesday, with Apple s surge giving the Nasdaq its biggest gain of the year, while th  -Rupee ends firmer at 90.78/83 to dollar KARACHI: In the currency market, the rupee ended firmer at 90.78/83 to the dollar, compared with Tuesday s close o  -KSE ends on new 4-yr high at 14,217 KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.60 percent, or 85.15 points, higher a  -Britain back in recession after shrinking 0.2% in Q1 LONDON: Britain s economy sank back into recession in the first quarter, when it contracted by 0.2 percent amid on  -Major Gen (retd) Muhammad Javed appointed new PSM CEO ISLAMABAD: Government has appointed Major General (retd) Muhammad Javed as Chief Executive Officer (CEO) of Pakistan  -NEPRA increase electricity tariff by Rs2.38 per unit ISLAMABAD: Under monthly fuel adjustment NEPRA has increased the electricity tariff by Rs2.38 per unit for February  -Asian markets gain ahead of key bank meetings HONG KONG: Asian markets rose on Wednesday as dealers await key policy meetings in the United States and Japan thi  -Euro inches higher in Asian trade TOKYO: The euro inched higher in Asian trade Wednesday as traders watched for any signs of monetary easing from th  -Crude advances in Asia on supply concerns SINGAPORE: April 25, 2012 (AFP) - Oil prices were higher in Asian trade Wednesday, buoyed by a shutdown of Britain MOHAMMED SALEEM MANSOORI

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 26.04.2012

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 26.04.2012:   LATEST/BRIEF   NEWS: ·        Decision not appropriate: PM Gilani ·        Contempt case: SC convicts PM Gilani ·  ...

LATEST NEWS UPDATE: 26.04.2012

 

LATEST/BRIEF  NEWS:

·       Decision not appropriate: PM Gilani

·       Contempt case: SC convicts PM Gilani

·       'PM Gilani will appeal against verdict’

·       Gilani more concerned about son: Rasheed

·       PML-N waiting to see PPP reaction

·       Intra-court appeal to be filed against PM conviction in contempt case

·       30 second sentence for Gilani

·       KSE up 85pts after CGT rules approval

·       SECP okays regulations

Business News:

Thu, 26 Apr 2012 -Wall Street jumps on Apple''s results, Fed reassurance NEW YORK: Stocks rallied on Wednesday, with Apple s surge giving the Nasdaq its biggest gain of the year, while th  -Dollar steady ahead of Bank of Japan meeting TOKYO: The dollar was steady against other major currencies in Asian trade on Thursday as investors looked to a Bank  -Asian markets up on Bernanke comments HONG KONG: Asian markets rose Thursday following a cautiously upbeat assessment of the US economy by the Federal R  -Rupee ends firmer at 90.78/83 to dollar KARACHI: In the currency market, the rupee ended firmer at 90.78/83 to the dollar, compared with Tuesday s close o  -KSE ends on new 4-yr high at 14,217 KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.60 percent, or 85.15 points, higher a  -Britain back in recession after shrinking 0.2% in Q1 LONDON: Britain s economy sank back into recession in the first quarter, when it contracted by 0.2 percent amid on  -Major Gen (retd) Muhammad Javed appointed new PSM CEO ISLAMABAD: Government has appointed Major General (retd) Muhammad Javed as Chief Executive Officer (CEO) of Pakistan  -NEPRA increase electricity tariff by Rs2.38 per unit ISLAMABAD: Under monthly fuel adjustment NEPRA has increased the electricity tariff by Rs2.38 per unit for February  -Asian markets gain ahead of key bank meetings HONG KONG: Asian markets rose on Wednesday as dealers await key policy meetings in the United States and Japan thi  -Euro inches higher in Asian trade TOKYO: The euro inched higher in Asian trade Wednesday as traders watched for any signs of monetary easing from th  -Crude advances in Asia on supply concerns SINGAPORE: April 25, 2012 (AFP) - Oil prices were higher in Asian trade Wednesday, buoyed by a shutdown of Britain  -Apple crushes Wall Street targets, dispels iPhone fears SAN FRANCISCO: Apple Inc s quarterly results beat Wall Street estimates on stronger-than-expected demand for the i  -MCB declares 30% cash dividend on higher PAT KARACHI: MCB Bank Ltd has reported a higher profit after tax of Rs 5.644 billion during the quarter ending March 3  -KSE buoyant, 100-Index hits 14,132 KARACHI: Bulls continued to rule the Karachi Stock Exchange (KSE) on the second consecutive day, contributing 49 points  -Facebook beefs up patent arsenal ahead of IPO SAN FRANCISCO: Facebook struck a $550 million deal Monday to get its hands on hundreds of AOL patents from Microsoft MOHAMMED SALEEM MANSOORI