DAILY BRIEF NEWS UPDATE:16.01.2012

NA meets today for crucial vote

National Assembly meeting today for crucial vote on a resolution tabled in the house on Saturday by Asfandyar Wali, the leader of government ally Awami National Party.  

The lower house will meet with Speaker Fehmida Mirza in chair, to proceed over the resolution, which reposes confidence over the government.

The government is expected to pass the resolution without any amends from the opposition parties.

The opposition parties are tryng to build an alliance against the government.

Final episode?: NRO saga enters climax

ISLAMABAD: 

All eyes will be at the Supreme Court on Monday (today), where the two-year-long National Reconciliation Ordinance saga is expected to climax.
The hype reached a fever pitch on January 10 when a bench chaired by Justice Asif Saeed Khosa gave six options against the government for non-compliance in the NRO implementation case, including disqualification for Prime Minister Yousaf Raza Gilani and President Asif Ali Zardari.
“Prima facie, the Prime Minister is not an honest man and violated his oath,” the bench had ruled.
A seven-member bench of the Supreme Court comprising Justice Nasirul Mulk, Justice Asif Saeed Khosa, Justice Sarmad Jalal Osmany, Justice Ejaz Afzal Khan, Justice Ijaz Ahmed Chaudhry, Justice Gulzar Ahmed and Justice Muhammad Ather Saeed will take up the matter today, and is expected to deliver its final verdict.
If the NRO saga is not sufficient, a three-member judicial commission will also resume hearing of the Memogate scandal on Monday while the National Assembly will vote on a ‘pro-democracy’ resolution.
What to expect
“It is neither appropriate nor possible to predict the decision of court but it can be said for sure that the court has to take a decision,” former law minister Senator SM Zafar said while talking to The Express Tribune. “Otherwise, people would think that the court perhaps is shying away from taking any final decision,” he added.
Zafar ruled out the possibility that the government would succeed in buying time once again: “A final decision will definitely come in the next day or two, irrespective of what the government desires.”
He added, however, that the court order, whatever it would be, would not dislodge the government, but will “definitely damage its credibility.”
When asked if the court could invoke Article 190 of the Constitution to get its judgment implemented, Zafar said “the court knows better what to do and how to do it.”
Rumor mill
Rumors, meanwhile, are rife in the capital, ranging from the prime minister’s resignation, to the government writing to Swiss authorities to revive money-laundering cases against the president.
The opposition, meanwhile, is all set to resist any move by the government against the judiciary.
Pakistan Muslim League-Nawaz proposed amendments in a resolution tabled by the government, and asked for “immediate implementation of Supreme Court orders.”
The Pakistan Threek-e-Insaf also threw its weight behind the judiciary, and warned the government to resist any “moves against the rule of law.”
Insiders from the Pakistan Peoples Party (PPP) say the prime minister might surprise everyone with an appearance before the seven-member bench of Supreme Court, along with his Cabinet members.
A PPP leader also claimed that a letter has already been written to the Swiss authorities and its reply has been received.
Contrary to the claim, however, President Zardari recently stated in an interview that there is no possibility of writing a letter to Swiss authorities, saying it would be a violation of the Constitution, since Article 248 gives him immunity, and be a “trial of [former prime minister] Benazir Bhutto’s grave.”

Shahzain announces bounty for Musharraf

PIR JO GOTH: Shahzain Bugti, a grandson of slain Bugti chieftain Nawab Akbar Bugti, on Sunday announced head money for former military ruler Pervez Musharraf.
Akbar Bugti, along with his comrades, was killed in a military operation in Kohlu district of Balochistan in 2006. The operation was ordered by the then army chief and president Pervez Musharraf.
“We will give Rs1 million in cash and a bungalow worth Rs100 million to anybody who kills Musharraf. And we’ll also provide him full security,” Shahzain Bugti said while speaking to the media after condoling the death of Pir Pagara with his bereaved family on Sunday. Shahzain Bugti, who is also a leader of his grandfather’s Jamhoori Watan Party, demanded that Musharraf should be hanged.
“The gallows are ready for Musharraf. There will be serious consequences, if the government does not arrest him upon his arrival,” he warned.
He alleged that Musharraf was responsible for the killing of hundreds of people. “He not only killed my grandfather but also hundreds of innocent people during the Lal Mosque operation in Islamabad. Ulema have also declared him wajibul qatal (liable to be killed),” Shahzain claimed.
He said the people of Balochistan have already rejected the Aghaz-e-Haqooq-e-Balochistan package. “We don’t need charity. We will snatch back our rights from the rulers,” he added.

Business News

Mon, 16 Jan 2012
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-	Political instability to weigh on KSE: dealers KARACHI: The Karachi Stock Exchange (KSE) is likely to continue moving under the shadow of electoral politics next
-	CNG closed for third day in Faisalabad, Bahawalpur FAISALABAD: CNG stations in Faisalabad and Bahawalpur regions remained closed for the third consecutive day on Sat
-	CNG stations reopen in Sindh after 24 hours KARACHI: CNG stations in Sindh including Karachi reopened on Saturday at 9 am after 24-hour closure, Geo News repo
-	Italy''s crisis opens doors to cash-rich mafia MILAN: When Italian construction group Perego was struggling back in 2008, a white knight flush with cash rode to
-	Wall Street slips on reports of euro-zone downgrades NEW YORK: Stocks dropped on Friday, snapping a four-day winning streak, after news reports that Standard Poor s
-	CNG stations closed for 24 hours KARACHI: All the CNG stations across Sindh province including Karachi has been shut for 24 hours from 9am today (F
-	Euro holds steady amid eased worries over Europe TOKYO: The euro held steady against other major currencies in Asia on Friday as investor confidence improved after
-	Oil higher in Asian trade on Nigeria unrest SINGAPORE: Oil prices moved higher in Asian trade Friday amid the threat of a production shutdown in Nigeria, Afri
-	Global shares gain as strong debt sales ease risk TOKYO: Asian shares rose to a one-month high and the euro clung near its strongest in a week on Friday as strong d
-	CNG stations shut in Faisalabad, Bahawalpur region FAISALABAD: Under gas load management plan, CNG stations in Faisalabad and Bahawalpur regions have been closed for
-	Oil prices higher in Asian trade SINGAPORE: Oil prices rose in Asian trade Thursday as concerns over supply disruptions in Iran and Nigeria outweig
-	Asian shares mixed as China inflation slows HONG KONG: Asian markets were mixed Thursday as Chinese inflation hit its lowest level in more than a year while a
-	Wall Street ends near 5-month high before Europe test NEW YORK: Stocks held firm near recent five-month highs on Wednesday as investors awaited key bond market tests fo
-	CNG closed for third day in Multan region MULTAN: Multan region is facing CNG closure for the third consecutive day today (Wednesday) under the gas load man

  

LATEST/BRIEF NEWS:

·       NRO verdict: Proceedings put-off till 11am due to AG's absence

·       Mansoor Ijaz seeks time till Jan 25 to appear before court

·       Memo, NRO: Govt faces critical day in Supreme Court

·       Pakistan to market farm products in IGW

Mohammed Saleem Mansoori