Monday, 17 September 2012

LATEST NEWS UPDATE: 18.09.2012





PM in the dock as show-cause hearing resumes
PM show-cause notice: SC gives until Sept 25 to prepare letter

A five-judge bench of the apex court, headed by Justice Asif Saeed Khosa, was hearing the case.

The prime minister had requested the court for a month's time for consultations over the matter,
NRO case: SC gives govt time till Sep 25
ISLAMABAD: The Supreme Court on Tuesday gave the government time till September 25 to write the letter to Swiss authorities and exempted PM Ashraf from appearing until next orders, Geo News reported.
A five-member bench comprising Justice Asif Saeed Khan Khosa, Justice Ejaz Afzal Khan, Justice Ijaz Ahmed Chaudhry, Justice Gulzar Ahmed and Justice Athar Saeed resumed the contempt of court proceedings against PM Ashraf in the National Reconciliation Ordinance (NRO) implementation case.
The Prime Minister along with the coalition partners attended the contempt proceedings today and told the court that the government has decided to withdraw ex-attorney general Malik Qayyum’s letter that was written to the Swiss authorities in Pervez Musharraf’s tenure.
During today’s proceedings, PM Ashraf told that he has examined the case from all angles and has decided to recall the letter written by former attorney general Malik Qayyum. He further told that he has directed Law Minister Farooq H Naek to withdraw the letter written to Swiss authorities asking for closing all the cases against the president.
The cases that had been closed by Malik Qayyum's letter can now be reopened by the Swiss authorities if they choose.
The SC then directed PM Ashraf to notify the court after the Swiss attorney general have been informed of the new developments.
Law Minister Farooq H Naek will now be authorized to write a letter to the Swiss authorities to recall Qayyum's directions.
Justice Asif Saeed Khosa also directed PM Ashraf to draft the letter in 2-3 days, and authorize Farooq Naek to write it by tomorrow.
On this, PM Ashraf requested the court to adjourn the case until the end of September as he needs more time to draft the letter.
The bench then asked PM Ashraf to resolve this matter before Russian President Vladimir Putin visits Pakistan on Oct 2.
The court then adjourned the hearing into the NRO implementation case until September 25 and exempted PM Ashraf from appearing. 
It is pertinent to mention that on August 15, Justice Asif Saeed Khosa had told that the court never asked the government to prosecute the president but to tell the Swiss authorities that not only parliament has rejected the NRO, but also the highest court of the country struck it down and, therefore ignore the letter written by Malik Qayyum.
The court said that they were not asking the government for mutual assistance but to tell the Swiss authorities that Malik Qayyum was not authorised to close the cases in Switzerland.
The SC last month issued a contempt notice to Prime Minister Ashraf for not implementing its order of writing a letter to the Swiss authorities to reopen a money-laundering case against President Zardari.
The apex court on August 27 granted PM Ashraf time till September 18 after he assured to take genuine and serious steps to resolve the issue.
Prime Minister Ashraf had assured the court that he was serious in resolving the issue and sought six weeks time period to understand the constitutional and legal aspects of the case and to engage his counsel to submit his reply over the show cause notice issued to him, therefore, he might be granted time to make sincere efforts in this regard.
Justice Asif Saeed Khosa dispelled the impression that the prime minister had to write the letter and stated that the PM office had to authorize someone like the law minister to implement the court’s order.
Last night, a meeting of the heads of coalition parties was held at the Aiwan-e-Sadr with Co-Chairman PPP President Asif Ali Zardari and Prime Minister Raja Pervez Ashraf in chair.
Spokesperson to the President Senator Farhatullah Babar informed that Prime Minister Raja Pervez Ashraf will appear before the Supreme Court today (Tuesday) and the coalition partners, he said, decided to accompany the PM to the SC as a mark of solidarity.

LATEST/BRIEF  NEWS:

PAKISTAN

o    3 children die as roof collapse in AJK
o   Former Town nazim gunned down in Karachi
o   Lahore: rain inundates many areas
o   Those who want clash between institutions are disappointed: Kaira
o   NRO Case: Govt to withdraw Malik Qayyum’s letter, next hearing on Sept 25
o   SC seeks draft of Swiss letter within a week
o   World Twenty20 to get under way in Sri Lanka
o   Pak, Indian commerce secretaries to meet on 20th
o    DAWH to sell fertilizer business to Pakarab
o   Pakistan to import 1000MW from Turkmenistan
o   Next six months very important politically: Nawaz

WORLD


o   Treasury resists GM plan on government stake sale: WSJ
o   Merkel vows to convince opposition on Swiss tax deal
o   Electrolux says Europe woes spreading from south to other markets
o   Oil steady over $116 as QE balances growth worries
o   Merkel: Wants dialogue to solve China-Europe solar panel dispute
o   Germany boosting consumption, not just focused on savings: Merkel
o   Labor costs growth shows rebalancing in euro zone
o   Merkel says Buba chief has right to express views on euro crisis
o   Merkel says leaders must agree on closer euro zone coordination
o   Billionaires get richer, many millionaires lose ground: report
o   Lonmin cuts full-year sales forecast
o   European stocks, euro edge lower as QE rally pauses
o   AT&T says set sales record for iPhone 5
o   U.S. rate risk looms over Asia
o   Angolan oil exports steady at 1.67 mln bpd in Nov
o   Japan brandname firms shut China plants after protest violence
o   Protests erupt in Afghanistan as Muslim anger over film simmers
o   Panetta to meet Xi Jinping on extended trip to China
o   Merkel says leaders must agree on closer euro zone coordination
o   European stocks, euro edge lower as QE rally pauses
o   U.N. expands list of Syrian war crimes suspects
o   Suicide car bomber kills seven near Baghdad's Green Zone
o   U.N. nuclear agency says to hold more talks with Iran
o   Insight: In India, gift-giving drives drug makers' marketing
o   Two South Africa mines reopen, situation still tense
o   Romney to pledge to fix troubled U.S. immigration system
o   Chicago teachers extend strike, mayor seeks court order
o   Insight: China builds its own military-industrial complex
o   Panetta seeks closer Sino-U.S. ties as China military expands
o   U.S. and allies to hold Gulf military exercise
o   Iran on brink of nuclear bomb in 6-7 months: Netanyahu
o   Six die in weekend "insider" attacks in Afghanistan
o   Obama crams for debates, works on being concise
o   Shuttle Endeavour embarking on new mission to Los Angeles museum
o   China struggles to curb anger as protesters denounce Japan
o   Iran on brink of nuclear bomb in six-seven months: Netanyahu
o   Chicago teachers extend strike until at least Wednesday
o   Western embassies edgy as Muslim anger at film simmers
o   Man charged with trying to bomb downtown Chicago bar
o   Libyan leader says 50 arrested in U.S. consulate attack
o   Anti-Putin protesters show their strength in Russia
o   Romney enters critical phase, will talk up economic plan
o   Islamist militants attack Egypt security headquarters in Sinai
o   Syria envoy meets Assad, says conflict is global threat
o   JPMorgan faces money laundering probe: source
o   Fury over Mohammad video simmers on in Muslim world
o   Taliban bomb kills 14 people in Pakistan near Afghan border
o   Greek opposition leader hardens anti-bailout stance
o   Anti-Putin protesters show their strength in Russia
o   Man charged with trying to bomb downtown Chicago bar
o   Afghan policeman kills two British soldiers
o   Warren Buffett says cancer radiation treatment completed
o   Fury over Mohammad video simmers on in Muslim world
o   Chicago teachers rally after tentative labor deal
o   Romney hits Obama on looming "fiscal cliff"
Business News:

EXCHANGE FOR CURRENCY NOTES:

U.S.A              95.55
S.Arabia         25.48
U.K                 155.03
Japan              1.2215
Euro               125.42
U.A.E             26.01


BULLION RATES IN RUPEES PER 10 GRAMS

KARACHI
Gold Tezabi (24-ct)          Rs 53,228
Silver Tezabi                     Rs 985.71
  Tue, 18 Sep 2012

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Asian markets mixed after Wall Street losses
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CNG closed for three days in Multan
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Asian markets take breather after surge on Fed move
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POL prices hiked by up to Rs6.82/litre
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Petrol price goes up by Rs6.82/litre from tomorrow
ISLAMABAD: The ministry of finance has approved the proposal forwarded by Oil and Gas Regulatory Authority (OGRA)

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Petrol price likely to go up by Rs6.82/litre
KARACHI: The Oil and Gas Regulatory Authority (OGRA) has forwarded a proposal to the Ministry of Finance seeking a

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Petrol price may go up by Rs5.50/ltr
KARACHI: The price of petrol is likely to hike by Rs5.50 per litre, whereas diesel could go cheaper by Rs1.25/litre

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Dollar mixed in Asia after Fed easing
ounced further

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Oil rises in Asia on Fed stimulus
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CNG pumps to remain closed for 48 hours in Sindh
Accord

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EU approves trade incentives for Pakistan
KARACHI: European Parliament Thursday gave a go ahead to the temporary trade incentives for Pakistan, two years after

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FBR halves gas surcharge for industries
KARACHI: In order to facilitate the business community the government has halved the recently imposed Gas Infrastructure

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Asian markets tread water ahead of Fed decision
HONG KONG: Asian markets were mixed in early trade on Thursday, while the euro edged higher, ahead of the end of a
MOHAMMED SALEEM MANSOORI

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