PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 30.03.2012

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 30.03.2012: President Zardari contacts MQM chief Altaf Hussain on telephone ISLAMABAD: President Asif Ali Zardari has telephoned MQM chief Alta...

LATEST NEWS UPDATE: 30.03.2012

President Zardari contacts MQM chief Altaf Hussain on telephone

ISLAMABAD: President Asif Ali Zardari has telephoned MQM chief Altaf Hussain today and discussed prevailing situation especially law and order condition in Karachi, SAMAA reported on Thursday.

The Mutahida Qaumi Movement (MQM) chief, Altaf Hussain, shared with President Zardari details of the killings of MQM PIB Sector Committee Member Mansoor Mukhtar and his brother Masood Mukhtar by banned Peace Committee.

President Zardari assured Altaf Hussain that he will personally go to Karachi and convene a meeting on the law and order condition of the metropolis.

Altaf Hussain also enquired about the well being of the President, during talks on the telephone this evening. SAMAA

Business News:

Fri, 30 Mar 2012
-	Oil lower as rich nations mull tapping crude reserves SINGAPORE: Oil retreated in Asian trade Thursday, as France said industrialised countries were considering releasi
-	Asian shares down on weak China data HONG KONG: Asian markets were mixed Thursday as more weak data out of China added to concerns over a slowdown in t
-	Yen firms on surprise Japan trade surplus TOKYO: The yen strengthened against the dollar in Thursday morning trade after Japan posted an unexpected trade su
-	HP to merge printer, PC businesses SAN FRANCISCO: Hewlett Packard Co will merge its printer and PC businesses, combining two of its largest divisions
-	Chrome wins weekend browser battle with IE: report HELSINKI: Google Inc s Chrome web browser overtook Microsoft Corp s Internet Explorer (IE) to become market leader
-	Karachi stocks come to a flat end on profitbooking KARACHI: Stocks at the premiere bourse ended almost flat on Wednesday as investors chose to book profits after the
-	Rupee extends losses against dollar KARACHI: The rupee Wednesday ended weaker at 90.75/79 to the dollar, compared with Tuesday s close of 90.70/71 bec
-	Pakistan notifies negative list for trade with India ISLAMABAD: The Pakistan government today issued a notification for switching over to a negative list regime for tr
-	India eyes Pakistan for access to Afghan mine bonanza NEW DELHI/KABUL: India will explore a route through rival Pakistan to transport iron ore from Afghanistan, the hea
-	Asian markets slip on China fears, oil edges up HONG KONG: Asian stocks were mostly lower on Wednesday, weighed down by concerns over a slowdown in China s econom
-	Euro jumps on optimism over debt crisis TOKYO: The euro on Wednesday rose to its highest level in nearly five months against the yen and also gained groun
-	Crude rebounds in Asia on signs of stronger US demand SINGAPORE: Oil rebounded from an overnight dive in Asian trade Wednesday as data showing stronger US energy demand
-	Crude rebounds in Asia on signs of stronger US demand SINGAPORE: Oil rebounded from an overnight dive in Asian trade Wednesday as data showing stronger US energy demand
-	Mari Gas supplying 44MMSCF gas to SNGPL KARACHI: Mari Gas Company Limited has started supplying 44 MMSCF per day gas to Sui North Gas Pipeline Limited (SN
-	New FBR laws feared to cause dearth of pulses KARACHI: After the imposition of stringent conditions by the Federal Board of Revenue (FBR) brokers have stopped p

LATEST NEWS/BRIEF NEWS:

·       Shutter down strike in Quetta today

·       Section of FTO Pakistan website hacked

·       Asghar Khan's case hearing resumes today

·       'Parliament to decide new ties with US’

·        SC declares all rental power projects illegal

·        Rental Power case judgement today

·       SC moves NAB against RPP-famed Raja Parvez Ashraf

·       US drone strike kills 4 militants in Pakistan: officials

·       US wants more Pak troops in Fata

·       Give us our due, Hafeez tells Munter

·       Monetary policy on April 13

·       Stock market sheds 16pts on profit-taking

MOHAMMED SALEEM MANSOORI

 

PAKISTAN-DAILY BRIEF NEWS: DAILY LATEST NEWS UPDATE: 29.03.2012

PAKISTAN-DAILY BRIEF NEWS: DAILY LATEST NEWS UPDATE: 29.03.2012: Successful talks raise hope for release of 7 Pakistani hostages ISLAMABAD: Seven Pakistani hostages may be released soon as talks b...

DAILY LATEST NEWS UPDATE: 29.03.2012

Successful talks raise hope for release of 7 Pakistani hostages

ISLAMABAD: Seven Pakistani hostages may be released soon as talks between the government and Somali pirates ended successfully in Dubai.

Under the condition, the government is to pay Rs250 million as ransom to pirates before April 20.

Twenty-three people, including seven Pakistanis, were abroad a Malaysian ship when they were held hostages by the pirates for more than one and a half year ago.

The government held talks with representatives of pirates in Dubai for the release of hostages. The talks were held at the directive of Sindh Governor Dr Ishratul Ebad.

According to a CPLC spokesman, Ahmed Channai will head to Malaysia to pay the ransom.

The 23 hostages include seven Pakistanis, seven Sri Lankan, six Bengalis, two Indians and one Iranian.

The ship was attacked at a time when it was going to Mombasa from Maldives through Indian Ocean. SAMAA

Business News:

29 Mar 2012
-	Oil lower as rich nations mull tapping crude reserves SINGAPORE: Oil retreated in Asian trade Thursday, as France said industrialised countries were considering releasi
-	Asian shares down on weak China data HONG KONG: Asian markets were mixed Thursday as more weak data out of China added to concerns over a slowdown in t
-	Yen firms on surprise Japan trade surplus TOKYO: The yen strengthened against the dollar in Thursday morning trade after Japan posted an unexpected trade su
-	HP to merge printer, PC businesses SAN FRANCISCO: Hewlett Packard Co will merge its printer and PC businesses, combining two of its largest divisions
-	Chrome wins weekend browser battle with IE: report HELSINKI: Google Inc s Chrome web browser overtook Microsoft Corp s Internet Explorer (IE) to become market leader
-	Karachi stocks come to a flat end on profitbooking KARACHI: Stocks at the premiere bourse ended almost flat on Wednesday as investors chose to book profits after the
-	Rupee extends losses against dollar KARACHI: The rupee Wednesday ended weaker at 90.75/79 to the dollar, compared with Tuesday s close of 90.70/71 bec
-	Pakistan notifies negative list for trade with India ISLAMABAD: The Pakistan government today issued a notification for switching over to a negative list regime for tr
-	India eyes Pakistan for access to Afghan mine bonanza NEW DELHI/KABUL: India will explore a route through rival Pakistan to transport iron ore from Afghanistan, the hea
-	Asian markets slip on China fears, oil edges up HONG KONG: Asian stocks were mostly lower on Wednesday, weighed down by concerns over a slowdown in China s econom
-	Euro jumps on optimism over debt crisis TOKYO: The euro on Wednesday rose to its highest level in nearly five months against the yen and also gained groun
-	Crude rebounds in Asia on signs of stronger US demand SINGAPORE: Oil rebounded from an overnight dive in Asian trade Wednesday as data showing stronger US energy demand
-	Crude rebounds in Asia on signs of stronger US demand SINGAPORE: Oil rebounded from an overnight dive in Asian trade Wednesday as data showing stronger US energy demand
-	Mari Gas supplying 44MMSCF gas to SNGPL KARACHI: Mari Gas Company Limited has started supplying 44 MMSCF per day gas to Sui North Gas Pipeline Limited (SN
-	New FBR laws feared to cause dearth of pulses KARACHI: After the imposition of stringent conditions by the Federal Board of Revenue (FBR) brokers have stopped p

LATEST NEWS/BRIEF NEWS:

·       SC extends Memo Commission by six week

·       Eight killed in Balochistan firing incidents

·       SC announces NRO implementation case verdict

·        Karachi tense again as ANP calls mourning day

·       Firing, killings continue in Karachi; ANP man laid to rest

·       NRO implementation verdict on April 16

·       Facebook to make stock market debut

·       N Korea begins fuelling rocket: report

·       General James departs Pakistan

·        Six die in Abbottabad bus accident

MOHAMMED SALEEM MANSOORI

PAKISTAN-DAILY BRIEF NEWS: DAILY LATEST NEWS UPDATE: 28.03.2012

PAKISTAN-DAILY BRIEF NEWS: DAILY LATEST NEWS UPDATE: 28.03.2012: Business News:   22 Mar 2012 - Oil lower as rich nations mull tapping crude reserv...

DAILY LATEST NEWS UPDATE: 28.03.2012

Business News:

22 Mar 2012
-	Oil lower as rich nations mull tapping crude reserves SINGAPORE: Oil retreated in Asian trade Thursday, as France said industrialised countries were considering releasi
-	Asian shares down on weak China data HONG KONG: Asian markets were mixed Thursday as more weak data out of China added to concerns over a slowdown in t
-	Yen firms on surprise Japan trade surplus TOKYO: The yen strengthened against the dollar in Thursday morning trade after Japan posted an unexpected trade su
-	HP to merge printer, PC businesses SAN FRANCISCO: Hewlett Packard Co will merge its printer and PC businesses, combining two of its largest divisions
-	Chrome wins weekend browser battle with IE: report HELSINKI: Google Inc s Chrome web browser overtook Microsoft Corp s Internet Explorer (IE) to become market leader
-	Karachi stocks come to a flat end on profitbooking KARACHI: Stocks at the premiere bourse ended almost flat on Wednesday as investors chose to book profits after the
-	Rupee extends losses against dollar KARACHI: The rupee Wednesday ended weaker at 90.75/79 to the dollar, compared with Tuesday s close of 90.70/71 bec
-	Pakistan notifies negative list for trade with India ISLAMABAD: The Pakistan government today issued a notification for switching over to a negative list regime for tr
-	India eyes Pakistan for access to Afghan mine bonanza NEW DELHI/KABUL: India will explore a route through rival Pakistan to transport iron ore from Afghanistan, the hea
-	Asian markets slip on China fears, oil edges up HONG KONG: Asian stocks were mostly lower on Wednesday, weighed down by concerns over a slowdown in China s econom
-	Euro jumps on optimism over debt crisis TOKYO: The euro on Wednesday rose to its highest level in nearly five months against the yen and also gained groun
-	Crude rebounds in Asia on signs of stronger US demand SINGAPORE: Oil rebounded from an overnight dive in Asian trade Wednesday as data showing stronger US energy demand
-	Crude rebounds in Asia on signs of stronger US demand SINGAPORE: Oil rebounded from an overnight dive in Asian trade Wednesday as data showing stronger US energy demand
-	Mari Gas supplying 44MMSCF gas to SNGPL KARACHI: Mari Gas Company Limited has started supplying 44 MMSCF per day gas to Sui North Gas Pipeline Limited (SN
-	New FBR laws feared to cause dearth of pulses KARACHI: After the imposition of stringent conditions by the Federal Board of Revenue (FBR) brokers have stopped p

LATEST NEWS/BRIEF NEWS:

·      Yemen urges Pakistan to free bin Ladens widow

·       Parliament joint session to continue today

·      The Joint Session of the Parliament discussed the report of the Parliamentary Committee on National Security on new rules of engagement with the United States and NATO

·       Pakistan and the United States have agreed to continue joint efforts to combat terrorism and establish peace in the region

·        SC adjourns PM contempt case hearing till April 12

MOHAMMED SALEEM MANSOORI

PAKISTAN-DAILY BRIEF NEWS: DAILY LATEST NEWS UPDATE:27.03.2012

PAKISTAN-DAILY BRIEF NEWS: DAILY LATEST NEWS UPDATE:27.03.2012: Pakistan needs nuclear technology to meet energy needs: Gilani SEOUL: Prime Minister Syed Yusuf Raza Gilani on Monday urged the int...

DAILY LATEST NEWS UPDATE:27.03.2012

Pakistan needs nuclear technology to meet energy needs: Gilani

SEOUL: Prime Minister Syed Yusuf Raza Gilani on Monday urged the international community to give Pakistan access to nuclear technology for peaceful uses on a non-discriminatory basis.Speaking at the dinner on the first day of the two-day second Seoul Security Summit here, the prime minister said the nuclear technology was required to meet Pakistan s growing energy needs and its National Command Authority had approved Nuclear Power Programme for 2050 to increase energy production from the nuclear source.Prime Minister Gilani said Pakistan had taken effective measures at national level which were the most important part of its efforts to enhance nuclear security.He said the international community had to move together and learn from each other to protect the nuclear assets and ensure their safety and security.Referring to the importance of the second Nuclear Security Summit being held in Seoul, the premier said, 'As we meet here, we break new ground on the evolving global nuclear security architecture, the role of the IAEA, and protection of nuclear materials and radioactive sources.''Our concerns on these vital issues put a roadmap in our hands for concerted national actions and international coordination to enhance nuclear security,' he added.Prime Minister Gilani said last year the IAEA Board of Governors unanimously approved the safeguards agreements of the two civil nuclear power plants of Pakistan that showed that the international community s continued confidence in the safety and security standards maintained by the country.Gilani said in South Asia, Pakistan was pursuing strategic restraint and confidence building through dialogue and this process should guarantee security and stability in the region.He said Pakistan had been active in international diplomacy to promote nuclear security.'We have supported the work of the global initiative to combat nuclear terrorism and our reports to the UN Security Council Resolution 1540 Committee have shared details of the measures we have taken to secure sensitive materials and technologies,' he said.The prime minister said Pakistan had also developed a strong nuclear emergency response mechanism, nuclear and radiological emergency coordination centres work closely with the first responders.He said, 'We have been implementing Nuclear Security Action Plan in cooperation with the IAEA and the plan reinforces physical protection of nuclear medical centres and civilian nuclear plants.' After the Fukushima accident, Pakistan carried out comprehensive stress tests of the nuclear power plants and refined and improve the safety parameters, he added.The PM said Pakistan had been deploying Special Nuclear Material (SNM) portals at key entry and exit points to detect, deter and prevent illicit trafficking of nuclear and radioactive materials.Gilani said the democratic government of Pakistan was fully committed to nuclear security.'We have focused especially on capacity building and interaction with the international community,' he added.The prime minister said since the Washington Summit, swift movement had been seen in the field of nuclear security.He said, 'Together, we have taken steps to create a secure world that will not live under the fear of nuclear terrorist attacks. We firmly believe that nuclear material must never fall into the hands of terrorists.'The prime minister said the world leaders had invested political capital to create greater awareness about nuclear security and instill a sense of urgency in their efforts.Referring to the first Nuclear Security Summit, the prime minister said three years ago in Prague, President Barack Obama took the historic initiative to convene a Nuclear Security Summit to set the common objectives for nuclear security and the Washington Summit was a great success in this regard.Appreciating the efforts of South Korea for hosting second Nuclear Security Summit, Prime Minister Gilani said, 'At this time, the Republic of Korea, a country with which Pakistan has deep, friendly ties, is carrying the torch.' (APP)

 

MQM announces ‘day of mourning’ in Sindh today

KARACHI: A statement issued by the Muttahida Qaumi Movement (MQM) on Tuesday, said that some armed men entered the house of Mansoor Mukhtar, a member of the party’s PIB sector committee and shot him to death around the wee hours of the day, DawnNews reported.
The attack also injured the brother Maqsood Mukhtar and sister-in-law Uzma Maqsood of the victim.
According to the statement elements of the Lyari Gang-war were responsible for the incident.
The press release said that the armed assailants also injured Hamdard Mohammad Yousuf in Nishtar Colony and Mohammad Amjad in Ghausia Colony.
The MQM Rabita Committee has condemned the killing of its activist and announced a day of mourning all across the province.
The MQM demanded that the President, Prime Minister, Chief Minister and other authorities ensure that those responsible for the attack,  be aressted and brought to justice.

Business News:

Tue, 27 Mar 2012

-Oil prices mixed in Asian trade
SINGAPORE: Oil prices were mixed in Asian trade Tuesday after the US central bank chief signalled that its easy mo 

-Euro steady in Asia on expectations of US easing
TOKYO: The euro was firm against the dollar in Asian trade on Tuesday amid expectations that the United States wil 

-Stocks prices end flat at KSE
KARACHI: Stock prices at Karachi Stock Exchange (KSE) ended almost flat on Monday as investors booked profits in b 

-Oil lower on profit-taking in Asia
SINGAPORE: Oil prices edged lower in Asian trade Monday as investors took profits from last week s gains, analysts 

-Asian markets mostly up but Chinese fears cap rise
HONG KONG: Asian markets were mostly higher on Monday following a positive lead from Wall Street and bargain hunti 

-Dollar holds firm ahead of Fed chief speech
TOKYO: The dollar held firm against other major currencies in Asia on Monday as market players awaited speeches by 

-Yahoo! board gets new members, defies hedge fund
SAN FRANCISCO: Yahoo! on Sunday announced the appointment of three independent board members as the struggling Int 

-Apple''s devoted shareholders get rich, and hang on
NEW YORK: When Anton Marinovich turned 18, his grandmother gave him $1,000 with strict instructions to invest in t 

-Gold up at Rs57,700 per tola in the local market
KARACHI: Gold jumped by Rs 386 to Rs 49,457 per 10 grams in the local market Saturday as its international price w 

-World Bank announces 3 candidates for president
WASHINGTON: The World Bank announced Friday three candidates to succeed outgoing president Robert Zoellick, one no 

-"Fast executioner" seeks killer design: Samsung
SEOUL: When Samsung Electronics rushed its first smartphone to market in a panicky response to the smash-hit debut 

-Obama picks public health expert for World Bank job
WASHINGTON: The United States has picked a public health expert of South Korean origin as its candidate for the Wo 

-''LNG import from India by April''
NEW DELHI: The Pakistani government is expected to bring out a notification next month allowing import of certain 

-Two major US oil cos interested in TAPI pipeline
NEW DELHI: Two major US oil companies are interested in a four-country pipeline that would ship gas worth billions 

-Oil prices higher in Asian trade
SINGAPORE: Oil prices rose in Asian trade Thursday on data showing an improvement in US employment numbers as conc

LATEST NEWS/BRIEF NEWS:

·       Williamson ton saves NZ despite Morkel haul

·        Gilani-Obama formal meeting today

·        Killing sparks disturbances in Karachi

·       MQM worker’s injured brother dies at hospital

·       Sindh CM Shah takes notice of Karachi violence

·        Foreign Minister Hina Rabbani Khar says an apology by the United States for the Nato airstrike will not satisfy Pakistan government and the attack demanded a reassessment of Islamabads partnership with the US

·       Prime Minister Syed Yusuf Raza Gilani and President Obama had an informal chat during dinner hosted by South Korean President in honour of leaders attending Nuclear Security Summit

·        KESC seeks Home Depts help to tackle menace

·       SBP injects Rs 223 billion

·       Obama pledges nuclear cuts, warns NKorea and Iran

MOHAMMED SALEEM MANSOORI

PAKISTAN-DAILY BRIEF NEWS: DAILY LATEST NEWS UPDATE: 22.03.2012

PAKISTAN-DAILY BRIEF NEWS: DAILY LATEST NEWS UPDATE: 22.03.2012: US, Pakistan have shared anti-terror interest: Clinton WASHINGTON: Secretary of State Hillary Clinton said Wednesday that the Uni...

DAILY LATEST NEWS UPDATE: 22.03.2012

US, Pakistan have shared anti-terror interest: Clinton

WASHINGTON: Secretary of State Hillary Clinton said Wednesday that the United States and Pakistan share interests in fighting terrorism after a panel in Islamabad made demands over the troubled relationship. Clinton declined to comment in-depth on the panel s recommendations but said that the United States was committed to an 'honest, constructive, mutually beneficial relationship with Pakistan.' 'We ve been working through these difficulties and challenges. We believe we have shared interests. We believe we have the same enemies,' Clinton said a news conference with Afghan Foreign Minister Zalmai Rassoul. 'We believe that it s important to support counter-terrorism against the insurgents who kill and maim tens of thousands of Pakistani people, who send teams across the border to kill and maim people in Afghanistan and to kill and maim our soldiers and others,' Clinton said. Pakistani lawmakers on Tuesday demanded a US apology over NATO air strikes that killed 24 Pakistani soldiers in November, leading Islamabad to close supply lines for US forces into Afghanistan. Lawmakers also demanded taxes on NATO convoys and an end to drone attacks in which the United States has killed militants in Pakistan s lawless border areas. Pakistan has voiced anger over civilian deaths. Clinton said that she would not comment on the recommendations until the panel s findings come up for debate before the Pakistani parliament.

 

Pakistan switches over to negative list regime for India trade

ISLAMABAD: The ministry of commerce here on Wednesday has issued the Statutory Regulatory Order (SRO) for switching over to negative list regime to trade with India.
According to the notification as many as 1209 items have been included in the negative list and would not be importable from India to Pakistan.
Talking to APP, an official in the ministry said, of total importable items from India under the SRO, 137 items would be importable from India to Pakistan through land route from Wahgah.
Major items included in the list of importable items are livestock, vegetables and newsprint in rolls or sheets.
For the manufacture of pharmaceutical products, the manufacturer could also import raw material (except basic manufactured locally) and packing material approved by the Director General Health Government of Pakistan.
Import of vaccines shall be allowed only from World Health Organization (WHO) approved plants.
Pakistan, currently, trades with India under positive list regime and imports items through other countries which increases the cost of the items in the local market.
He said that finalising the list will help to formally start trade between both the countries which will be beneficial for the people.
He further said that the trade with India in negative list regime was allowed only to protect our local industry and the negative list would be phased out in December 31,2012.
The government will ensure the removal of all non-tariff barriers (NTBs) and provision of free access of Pakistani products in the Indian markets before phasing out of negative list.

Business News:

Thu, 22 Mar 2012
-	Oil lower as rich nations mull tapping crude reserves SINGAPORE: Oil retreated in Asian trade Thursday, as France said industrialised countries were considering releasi
-	Asian shares down on weak China data HONG KONG: Asian markets were mixed Thursday as more weak data out of China added to concerns over a slowdown in t
-	Yen firms on surprise Japan trade surplus TOKYO: The yen strengthened against the dollar in Thursday morning trade after Japan posted an unexpected trade su
-	HP to merge printer, PC businesses SAN FRANCISCO: Hewlett Packard Co will merge its printer and PC businesses, combining two of its largest divisions
-	Chrome wins weekend browser battle with IE: report HELSINKI: Google Inc s Chrome web browser overtook Microsoft Corp s Internet Explorer (IE) to become market leader
-	Karachi stocks come to a flat end on profitbooking KARACHI: Stocks at the premiere bourse ended almost flat on Wednesday as investors chose to book profits after the
-	Rupee extends losses against dollar KARACHI: The rupee Wednesday ended weaker at 90.75/79 to the dollar, compared with Tuesday s close of 90.70/71 bec
-	Pakistan notifies negative list for trade with India ISLAMABAD: The Pakistan government today issued a notification for switching over to a negative list regime for tr
-	India eyes Pakistan for access to Afghan mine bonanza NEW DELHI/KABUL: India will explore a route through rival Pakistan to transport iron ore from Afghanistan, the hea
-	Asian markets slip on China fears, oil edges up HONG KONG: Asian stocks were mostly lower on Wednesday, weighed down by concerns over a slowdown in China s econom
-	Euro jumps on optimism over debt crisis TOKYO: The euro on Wednesday rose to its highest level in nearly five months against the yen and also gained groun
-	Crude rebounds in Asia on signs of stronger US demand SINGAPORE: Oil rebounded from an overnight dive in Asian trade Wednesday as data showing stronger US energy demand
-	Crude rebounds in Asia on signs of stronger US demand SINGAPORE: Oil rebounded from an overnight dive in Asian trade Wednesday as data showing stronger US energy demand
-	Mari Gas supplying 44MMSCF gas to SNGPL KARACHI: Mari Gas Company Limited has started supplying 44 MMSCF per day gas to Sui North Gas Pipeline Limited (SN
-	New FBR laws feared to cause dearth of pulses KARACHI: After the imposition of stringent conditions by the Federal Board of Revenue (FBR) brokers have stopped p

LATEST NEWS/BRIEF NEWS:

·       'Osama's brother-in-law can meet sister'

·       Gilani contempt proceedings underway

·        SC resumes contempt hearing on daily basis

·       Pakistani panel on Mumbai attacks returns home

·       Pakistan not accepting self-determination of Baloch people: US

·       Pakistan working against US interests: Congressman

·       Memogate: Yasin Malik to visit Pakistan Saturday

·       Aitzaz may head PC on judges

·       India offers gas to Pakistan

·       SECP makes electronic filing of returns mandatory

MOHAMMED SALEEM MANSOORI

PAKISTAN-DAILY BRIEF NEWS: DAILY LATEST NEWS UPDATE: 21.03.2012

PAKISTAN-DAILY BRIEF NEWS: DAILY LATEST NEWS UPDATE: 21.03.2012: World Bank approves $1 bn for projects in Pakistan WASHINGTON: The World Bank said on Tuesday it would fund two projects totaling $1...

DAILY LATEST NEWS UPDATE: 21.03.2012

World Bank approves $1 bn for projects in Pakistan

WASHINGTON: The World Bank said on Tuesday it would fund two projects totaling $1.09 billion, in energy and irrigation, aimed at supporting Pakistan’s growth agenda for reducing poverty.
The World Bank’s executive board approved the projects on Tuesday, the development lender said in a statement.
The $840 million Tarbela IV Extension Hydropower Project will add power generation capacity of 1,410 megawatts, contributing a crucial source of electricity for the economic growth and development of Pakistan, the World Bank said.
Only 15 per cent of Pakistan’s vast hydropower potential has been developed, the Bank noted.
The Tarbela IV Extension Hydropower Project will use the existing dam, tunnel, roads and transmission line for generating additional electricity in summer months when demand for electricity and river flows are high, it added.
“The beauty of this project is that it will help Pakistan reduce the gap between supply and demand of electricity by maximizing the benefits of existing infrastructure of Tarbela Dam without requiring any land acquisition or relocation of population,” Rachid Benmessaoud, World Bank country director for Pakistan, said in the statement.
“The direct beneficiaries will be millions of energy users, including industry, households and farmers who would get more electricity at a lower cost and suffer fewer blackouts.”
The $250 million Punjab Irrigated Agriculture Productivity Improvement Program Project is aimed at getting maximum productivity out of irrigation water by weaning farmers away from the traditional and “wasteful” flood irrigation, the Bank said.
The project will emphasize more modern methods like drip and sprinkler irrigation systems, which in turn will encourage crop diversification, it said.
The hydropower project includes a $400 million, 21-year loan from the Bank’s International Bank of Reconstruction and Development that includes a grace period of six years.
The remaining $440 million of the Tarbela project and $250 million for the irrigation project are credits from the International Development Association, the World Bank’s concessionary lending arm.
These 25-year loans have a 1.25 per cent interest rate and a five-year grace period, the Bank said.

SC takes up Gilani contempt case

ISLAMABAD: The Supreme Court (SC) resumed contempt of the court proceedings against Syed Yousaf Raza Gillani, the Prime Minister of Pakistan in compliance with this Court's order dated 16.01.2012.
 A seven-member bench of apex court headed by Justice Nasir-ul-Mulk and comprising Justice Asif Saeed Khan Khosa, Justice Sarmad Jalal Osmany, Justice Ejaz Afzal Khan, Justice Ijaz Ahmed Chaudhry, Justice Gulzar Ahmed And Justice Muhammad Ather Saeed would hear the suo moto notice taken against non compliance of court's verdict against National Reconciliation Ordinance (NRO).
 The SC on March 08 adjourned the hearing of contempt case against Prime Minister Gilani till today.
 During the course of proceedings‚ the seven member bench said if Prime Minister Gilani does not want to appear in person before the Court‚ it should submit its written reply by 19th of this month. If the Prime Minister wants to appear before the bench it may record his statement on 21st of this month.
 In compliance of court order dated March 08, Barrister Aitzaz Ahsan submitted a statement on behalf of PM Gilani on March 19.
 In his statement, the prime minister said that he had committed no contempt by not writing a letter to the Swiss authorities due to the constitutional immunity enjoyed by the President.
 Prime Minister Gilani has suggested the SC that if it does propose to expose the incumbent President of Pakistan to prosecution before a Western Magistrate, the best recourse will be to send this issue of grave public concern to the Parliament to take a decision, like it had done wisely over articles concerning appointments in the higher judiciary in the 18th Amendment case.
 "I also believe that the sovereign state of Pakistan cannot, must not and should not offer its incumbent Head of State, symbol of Federation (Article 41), the most prominent component of Parliament (article 50), and the Supreme Commander of its Armed Forces (Article 243) for a criminal trial in the court of a foreign magistrate, during the term of his office," he maintained.
 He said that any such attempt on his part would be liable to serious consequences being in humiliation of the constitutional symbol of the sovereignty and independence of the state to which he was under oath to uphold.
 "This is also a principle of absolute and inviolable "Head of State Immunity" recognized in International Law and must also be respected and upheld by all our institutions, i.e. executive, legislature and judiciary," he added.
 The prime minister said that neither he committed any contempt nor intended to commit it as he had acted strictly in accordance with the Rules of Business.
 "To set aside a decision of an executive authority as being wrong, is one thing. To charge that authority of a criminal offence, is quite another," he added.
 Referring to the latest directive of the Court on March 8, in which he was ordered to ignore all advices and act to implement paras 177 and 178 of the NRO judgement case, he contended that the advice was given in the past which was relevant with the present and future.
 Giving reasons for now writing a letter, he said the advice included statements by relevant quarters that cases in the Swiss court had been closed on merits and the documents that were the subject of Mutual Legal Assistance Request had been provided back in 1998 and nothing now was required to be done on that account.
 The PM said that he was also advised that the sovereign position of the President of Pakistan required that he could not be put up for trial in any foreign court including Switzerland, to which he acted accordingly.
 He said "I believe that this is indeed the correct position in law and fact. As long as a person is a Head of a Sovereign State, he has immunity in both criminal as well as civil jurisdictions of all other states under international law. I believe this immunity to be absolute and inviolable, even though it persists only during the tenure of office."
 Such immunity was vested with the office and not in the person, he added.
 "I think it wrong to subject the constitutionally elected incumbent President of Pakistan to the authority of a Magistrate in a foreign country. I think this subjection should be avoided," he emphasised.
 Terming the March 8 order on the same issue as ex-parte, the PM said the bench should first hear and appreciate the arguments of his counsel over steps referred in Para 178, but it was evident that the bench had arrived at a conclusion which was directly contradictory with his defence.
 "With utmost respect and humility, it is submitted that this amounts to pre-judging a cause," he added.
 Gilani said that if the bench was to try him for alleged past conduct, then it must create a 'mental firewall' so that events, before or after, do not affect its judgement.
 The prime minister said the grounds based on future conduct might be created by the order dated March 8, for presuming contumacy affecting the present trial, but this was a criminal trial which could lead to serious consequences.
 "In fact the fresh order of March 8, 2012 goes to show my innocence of the earlier charge. The contrary is not possible," he added.
 Objecting to passing of fresh order, the PM said that his case also pertained to the right of a citizen to natural justice as enshrined in Article 10A.
 He said the order was passed by summoning up the Attorney General, who was already tasked as prosecutor in the instant contempt issue and he was asked to convey the directive to him.
 Gilani said that the Attorney General was privy to all proceedings on the NRO case after his appointment on April 2, 2010, and the two summaries which were approved by him during this period.
 He was the person, who was mandated by him to bring the decisions of the government to the notice of Supreme Court, which he did not and was appointed as prosecutor which was a tragic irony.
 "There are other ironies. This Hon'ble Bench itself issued the show cause notice to me. It thus initiated the prosecution, itself. If not prosecutors, the Hon'ble Judges gracing this Hon'ble Bench are certainly in the nature of the complainants. Yet they sit as Judges and try me in the same cause," he added.
 Raising further objection over proceedings conducted by the same bench, the prime minister said that the bench having itself initiated the prosecution was sitting in trial and judgement.
 He said it meant that the most fundamental principles of natural justice stood violated. These well known principles of natural justice as expounded by this Court itself were "No man shall be condemned unheard. No Man shall be a judge in his own cause. Both these principles have been breached."
 He said that application of the law of contempt of court must now be subject to and in conformity with the new Article 10A of the Constitution.
 "The hon'able Judges who decided to issue the show cause notice to me, should not have sit in the trial, nor should sit in judgement in this case," he added.
 The PM said that they should not forget that judges were also human beings, and fallible. It was also difficult, if not impossible for them to disassociate from opinions so harshly and firmly expressed by them before the initiation and also before the conclusion of the trial.
 He prayed to court that it should recall its ex parte order of March 8 in suo motu case and show cause notice of January 10.
 He said the same bench had laid down six options which could be exercised against him if found convicted of contempt of Court but he could not understand why the most coercive option had been selected by the Court and for what reason?
 He said the sixth option envisaged sending of the instant matter to the people of Pakistan at an appropriate time according to the Constitution, was the best course of action for the bench.

Business News:

 Wed, 21 Mar 2012

-Crude rebounds in Asia on signs of stronger US demand
SINGAPORE: Oil rebounded from an overnight dive in Asian trade Wednesday as data showing stronger US energy demand 

-Mari Gas supplying 44MMSCF gas to SNGPL
KARACHI: Mari Gas Company Limited has started supplying 44 MMSCF per day gas to Sui North Gas Pipeline Limited (SN 

-New FBR laws feared to cause dearth of pulses
KARACHI: After the imposition of stringent conditions by the Federal Board of Revenue (FBR) brokers have stopped p 

-Fertilizers boost gains at Karachi Stock Exchange
KARACHI: Local stocks ended more than 1.7 percent higher on Tuesday, led by shares of fertilizer giant Engro Corp. 

-Rupee ends weaker vs US dollar
KARACHI: The rupee Tuesday ended weaker at 90.71/75 to the dollar, compared with Monday s close of 90.62/70 becaus 

-Economy likely to grow 3-4 %: SBP
KARACHI: Pakistan s economy is expected to grow by 3 to 4 percent in the fiscal year to end-June, though risks to 

-Asia markets slip, Iran tensions lift energy firms
HONG KONG: Asian markets slipped in early trade on Tuesday as dealers looked for a foothold to spur buying despite 

-Oil prices down on Saudi assurance
SINGAPORE: Oil prices inched lower in Asian trade Tuesday after the world s leading crude producer Saudi Arabia vo 

-Lentils prices up by Rs3 to 29 at Utility Stores
ISLAMABAD: Prices of lentils have been increased by Rs3 to Rs29 per kilogram at Utility Stores across the country, 

-Oil prices extend gains in Asian trade
SINGAPORE: Oil prices extended gains in Asia on Monday, supported by concerns over Middle East supply and signs of 

-Asian shares mixed after weak US data
HONG KONG: Asian shares were mixed on Monday, as lingering optimism over the recovery in the global economy was te 

-Dollar weak on murky US economic data
TOKYO: The dollar moved narrowly against the yen and euro in Asia on Monday amid a mixed bag of US data that faile 

-Research firm: New iPad more expensive to make
NEW YORK: Apple appears to be making less of a profit from each new iPad than it did when it launched the previous 

-CNG stations back in business across Sindh
KARACHI: CNG stations in the metropolis as well as across the province reopened on Sunday morning after 24 hours o 

-Dell sees room to challenge Apple in tablets
LONDON: A growing dissatisfaction among office workers with the clunky computers their employers force them to use

LATEST NEWS/BRIEF NEWS:

·      SC takes up Gilani contempt case

·      Miscreants burn Jang, The News copies

·      'Parliament to decide on Pak-US ties’

·      Can electric cars revolutionize auto industry?

·      Panetta wanted parallel intel body inside Pakistan

·      Cement rally jacks up KSE by 226 points

·      NATO faces "trying" time in Afghanistan

MOHAMMED SALEEM MANSOORI