PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 01.06.2012

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 01.06.2012: US hopes to resolve Pakistan land routes issue soon WASHINGTON: The United States continues to work with Islamabad towards rest...

LATEST NEWS UPDATE: 01.06.2012

US hopes to resolve Pakistan land routes issue soon

WASHINGTON: The United States continues to work with Islamabad towards restoration of Pakistani routes for Nato supplies into Afghanistan and hopes to resolve the issue soon, a State Department spokesman said.
“We do remain engaged with Pakistan on reopening these ground lines of communication. We want to and think that opening them would obviously be an important demonstration of Pakistan’s commitment to the international effort to ensure a prosperous, peaceful Afghanistan. So we are working diligently trying to make progress,” Deputy Spokesman at the State Department Mark Toner said.
He spoke amid media reports that a senior US official may next week join the American team in Islamabad that is negotiating a resolution to the six-month old issue with their Pakistani counterparts.
Pakistan shut down the key supply routes in November 2011, after 24 of its soldiers deployed on two posts along the Afghan border, were killed in Nato cross-border warplane strikes.
Questioned if there is a timeline on these negotiations for reopening the overland routes into landlocked Afghanistan, or the talks can go on indefinitely, the spokesman responded: “I mean, we certainly hope to reach a resolution very soon.”
Toner said that Washington is discussing a broad range of issues with Islamabad.
“We are continuing to meet in Islamabad to talk over these issues as we are discussing a broad range of issues with Pakistan. But you are right. It’s slow going, but we are making progress,” he remarked.
He said that the United States wants Pakistan to be a stable, prosperous democracy that’s helping its neighbors also become stable democracies.
Regarding sentencing of Shakil Afridi, aPakistani who worked for CIA but has been imprisoned for 33 years on charges of aiding a militant organisation, the spokesman said the United States is seeking clarity on the basis of his conviction.
The spokesman said the United States is in touch with Pakistani officials both in Washington and Islamabad to clarify the issue.
Toner spoke after reports, citing a tribal court judgment document, said the doctor was jailed not on account of his work for CIA against al Qaeda but for his links with a banned militant organization, Lashkar-i-Islam.
‘No, we are actually seeking clarity on those latest reports.
“I am aware of what you are talking about, so we have raised those with the Government of Pakistan. It seems to us to contrast previous reports about his conviction    and the basis of it, so we are trying to get clarity,” Toner replied, when asked if Washington was clear about the charges, which became basis for Afridi’s sentencing by a Pakistani tribal court.
The spokesman said he was unsure whether family of Dr Afridi, who worked for CIA in running a sham vaccination campaign to get DNA samples of al Qaeda chief, has asked for US assistance.
“I am actually not sure that they have actually approached us requesting assistance. I mean, other than raising it very publicly, as we have done via Secretary Clinton, and raising it consistently in our meetings with Pakistani Government officials, it’s unclear to me what else we could do for his case,” Toner said in answer to a question about a reported statement by    Afridi’s brother that the doctor was not being helped.
“But we certainly take it very seriously. The US Secretary of State Hillary Clinton was very clear in her remarks, saying that there is not any basis for holding Dr Afrid,” he added.

IT exemption limit raised to Rs50,000

ISLAMABAD: The government is expected to announce in the federal budget-2012-13 several reliefs in income tax, federal excise duty and sales tax on Friday evening here, Geo News reported.
Besides providing relief in income tax, a uniform sales tax at 16 percent has been proposed.
Geo News has obtained a copy of the federal finance minister’s budget speech to be made this evening, which proposes that the income tax exemption limit be raised to Rs50,000 i.e. annual income of Rs4,00,000 and above would be taxable from now on. Five slabs has been suggested for the purpose of income tax, while an amount of Rs1000 per annum would be recovered from persons drawing salary of Rs35,000 on account of income tax.
Tax payer honour card has been introduced, which would entitle the taxpayers to certain facilities. Turnover tax rate is being cut to a half. The government wants to gradually eliminate the presumptive tax system in three years. Five percent tax on importers is being reduced to 3 percent, while 1 percent tax on exporters will be reduced to 0.5 percent. Withholding tax exemption limit of Rs25,000 on withdrawal of cash from banks is being raised to 50,000. Different rates of general sales tax to be done away with the imposition of a uniform 16 percent sales tax.
Sales on locally produced paper and canola ghee being declared zero rated. Sales tax on tea proposed to be reduced to 5 percent from 16 percent.
Custom duty highest rate instead of 35 will be reduced 30 percent. Besides custom duty on pencil, copy ink etc. is being abolished. Federal excise duty on cement is being reduced by Rs100 per ton. Custom duty on scrap used as fuel in cement factory will be reduced to 10 percent from 20. Custom duty on 94 items of pharmaceutical raw materials is being abolished.
Excise duty on mobile oil, base oil, lubricant is being lifted, Federal excise duty on livestock insurance is being done away, while federal excise duty of asset management companies also being abolished.
Electricity for steel mills would be costlier, as sales tax on per unit electricity to this sector has been proposed to be raised to Rs8 from Rs6.

FDI fell by 48.4 percent in FY12

ISLAMABAD: The Foreign Direct Investment (FDI) in Pakistan stood at $666.7 million during July-April (2011-12) as against $1,292.9 million last year.
According to Economic Survey of Pakistan 2011-12, FDI showed decline of 48.4 percent.
Oil and Gas Exploration remained the major sector for foreign investors, which stood at 69.8 percent.
The pre-budget document, however maintains that Pakistan will certainly attract foreign direct investment with the resolution of energy shortage and improvement in the law and order situation.
It added that the Board of Investment (BoI) is making efforts to provide increasing investment friendly environment to investors.
The Survey added that efforts are being made to facilitate foreign investors with improved infrastructure and a better working environment so that the favourable business climate may induce investors to initiate new investment projects in the country. (APP)

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·       Karachi: three shot dead in Nazimabad

·       Tarbela powerhouse resumes generation

·       Justice Bandial takes oath as CJ today

·       New province before elections: PM Gilani

·       Ahmed Mukhtar to be new power minister

·       US says two officers return to Pakistan

·       President for two new provinces

·       Federal budget of Rs.2957 billion today

·        NA, Senate budget sessions today

·       Sugar price mounts by Re. 1 per kg in whole sale market

·       Hafeez speaks of govts gains & pains

·       UN HR Commissioner visits Pakistan from 4^th

·       US hopes Nato supplies to reopen very soon

·       Indian report on Kashmir solution rejected

Business News:

  

Fri, 1 Jun 2012
-	Oil slides on eurozone, US demand worries SINGAPORE: Oil prices fell to a fresh seven-month low in Asian trade Friday as eurozone debt worries and signs of
-	Foreign direct invsetment fell by 48.4 percent in FY12 ISLAMABAD: The Foreign Direct Investment (FDI) in Pakistan stood at $666.7 million during July-April (2011-12) as
-	Pakistan: Rupee hits historic low vs US dollar KARACHI: The rupee sank to its lowest level against the dollar Thursday amid panic in the country s fragile forex
-	KSE: Crashing rupee knocks local stocks down ISLAMABAD: Stocks at the main market fell on Thursday with investors concerned about continued pressure on the rupee
-	Pakistan pulls curtain on Economic Survey 2011-12 ISLAMABAD: Federal Minister for Finance, Dr. Abdul Hafeez Shaikh on the eve of historic "election budget" for the
-	Pakistan facing no risks in repaying IMF: SBP chief KARACHI: Governor, State Bank of Pakistan SBP Yaseen Anwar says Pakistan will "not face any risk in making repayment
-	Price of petroleum products decreased ISLAMABAD: Government of Pakistan has decreased the price of petroleum products following a fall in the international
-	PPL wins Iraq oil exploration deal BAGHDAD: Iraq on Thursday closed a landmark auction of energy exploration blocks with just three contracts awarded
-	Economic Survey 2011-12 to be launched today Federal
-	Iraq wraps up energy auction after slow first day BAGHDAD: Iraq will hold the second and final day of an auction for a dozen oil and gas exploration blocks on Thurs
-	Asian markets, euro hit by Spain fears HONG KONG: Asian markets tumbled for a second day and the euro sank to new lows as Spain s banking crisis threaten
-	Euro under pressure on Spain worries TOKYO: The euro plumbed two-year lows in Asia on Thursday as nervous traders ditched the single currency for safer
-	Oil stays below $90 as Spain worries intensify SINGAPORE: Oil extended losses in Asian trade Thursday, with prices hitting multi-month lows as Spain s banking world
-	Bears rule supreme at Islamabad Stock Exchange ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Wednesday witnessed bearish trend as the index was down by 32
-	Local gold down at Rs 47,314/10gm KARACHI: Gold slipped by 171 to close at Rs 47,314 per 10 grams in the local market Wednesday as its international

MOHAMMED SALEEM MANSOORI

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 31.05.2012

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 31.05.2012: US military trainers trickle back into Pakistan WASHINGTON: The United States has sent a handful of military trainers back int...

LATEST NEWS UPDATE: 31.05.2012

US military trainers trickle back into Pakistan

WASHINGTON: The United States has sent a handful of military trainers back into Pakistan in a sign the two nations may be able to achieve some low-level cooperation against militants despite a string of confrontations that have left Washington s relations with Islamabad in crisis.Fewer than 10 US special operations soldiers have been sent to a training site near the border city of Peshawar, where they will instruct trainers from Pakistan s Frontier Corps in counter-insurgency warfare, a US official said.The number of American military instructors in Pakistan dropped to zero after US aircraft killed 24 Pakistani soldiers in late November.'I wouldn t call this a watershed moment (but) it s not insignificant that this is happening,' the US official said on condition of anonymity.'At a strategic level, the relationship is still at a very rough place,' the official said. 'There s a lot more we want to do to improve it, but (the trainers return) is an important sign that at least in some areas we re getting a healthy sense of normalcy.' (AFP)

Top Pentagon official returning to lead talks with Pakistan

WASHINGTON: US Assistant Defence Secretary Peter Levoy is returning to Islamabad next week to lead the American team which is negotiating a resolution to the Nato routes dispute with Pakistan, diplomatic sources told Dawn.
Mr Levoy, who looks after Asia and Pacific security affairs at the Pentagon, led the US contingent at an April 26 meeting with Foreign Minister Hina Rabbani Khar in Islamabad as well. The US media reported later that Mr Levoy and his team left the meeting abruptly because of certain remarks made by the foreign minister.
The remarks, according to the media reports, were linked to Pakistan’s demand for an apology from the United States over the Nov 26 air raid that killed 24 Pakistani soldiers and prodded Islamabad to close Nato supply routes to Afghanistan.
Since then Pakistan has stopped insisting on an apology as a precondition for reopening the routes. The concession enabled President Asif Ali Zardari to attend the May 20-21 Nato summit in Chicago but his inability to resolve the route dispute further complicated already tense relations between the two countries.
The two sides resumed their contacts after Mr Zardari returned home and because of the bitterness created by the April 26 incident at the Pakistan Foreign Office, this time Islamabad allowed its embassy in Washington to play a lead role in the talks.
The two sides are now working on a compromise formula to resolve the supply routes dispute which will require the United States to rebuild the highways damaged by Nato convoys.
In return, Pakistan will drastically reduce its demand for an increase in charges for overland deliveries of US military supplies to Afghanistan.

LATEST/BRIEF  NEWS:

·        No US military trainers in Pak: ISPR

·       Rangers man among 4 killed in Karachi

·       US seeks clarity on Dr Afridi reports

·       Fiscal deficit 2011-12 hits 6% of GDP

·       Economic Survey 2011-12 today

·       N Korea proclaims nuclear status

·       India fears for Afghanistan after Nato pullout

·       Mubarak faces verdict in murder trial

·       Iraq wraps up energy auction after slow first day

·       Oil stays below $90 as Spain worries intensify

·       Oil stays below $90 as worries intensify

Business News:

  

 Thu, 31 May 2012

-Oil stays below $90 as Spain worries intensify
SINGAPORE: Oil extended losses in Asian trade Thursday, with prices hitting multi-month lows as Spain s banking world 

-Asian markets, euro hit by Spain fears
HONG KONG: Asian markets tumbled for a second day and the euro sank to new lows as Spain s banking crisis threaten 

-Euro under pressure on Spain worries
TOKYO: The euro plumbed two-year lows in Asia on Thursday as nervous traders ditched the single currency for safer 

-Bears rule supreme at Islamabad Stock Exchange
ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Wednesday witnessed bearish trend s the index was down by 32 

-Local gold down at Rs 47,314/10gm
KARACHI: Gold slipped by 171 to close at Rs 47,314 per 10 grams in the local market Wednesday as its international 

-Lahore stocks lose 103.86 points
LAHORE: Bearish trend prevailed in Lahore Stock Exchange on Wednesday as it shed 103.86 points, following the LSE- 

-Dr Shakil Afridi jailed for ties with Lashkar-e-Islam: court
PESHAWAR: Dr Shakil Afridi who helped the United States find Osama bin Laden was imprisoned for aiding militants a 

-Free-falling rupee weighs on Karachi stocks
ISLAMABAD: The Karachi Stock Exchange (KSE) dropped on Wednesday with many investors not taking risks ahead of Pak 

-FBR sets five income tax slabs for salaried class
ISLAMABAD: The Federal Bureau of Revenue (FBR) has proposed to bring the number of income tax slabs from 17 to 5 w 

-Ogra proposes slash in fuel prices
ISLAMABAD: Oil Gas Regulatory Authority (OGRA) has proposed a reduction in petroleum products prices, Geo News r 

-Dollar continues upward rally vs rupee
KARACHI: The dollar continued to make record highs against the rupee in the interbank, dealers said on Wednesday. 

-Asian markets fall on Spain bailout fears
HONG KONG: Asian markets sank Wednesday on growing concerns that Spain could be forced into seeking a bailout while 

-Oil lower amid fears of Spain bailout
SINGAPORE: Oil prices edged lower in Asian trade on Wednesday as concerns that debt-plagued Spain could be forced 

-CNG hike being included in budget recommendations
ISLAMABAD: Minister for Petroleum, Dr. Asim Hussain on Tuesday said a raise in the rate of Compressed Natural Gas 

-GST, interest rate be slashed to 10%
KARACHI: Pakistan Federation of Chamber of Commerce and Industry (FPCCI) has advised the government to bring down

MOHAMMED SALEEM MANSOORI

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 30.05.2012

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 30.05.2012: US senator proposes suspending all Pakistan aid WASHINGTON: A conservative senator called on Tuesday for the United States to ...

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 29.05.2012

PAKISTAN-DAILY BRIEF NEWS: LATEST NEWS UPDATE: 29.05.2012: Pakistan, UK to continue cowork in war on terrorism: Malik ISLAMABAD: Interior Minister Rehman Malik on Monday said that Pakistan h...

LATEST NEWS UPDATE: 29.05.2012

Pakistan, UK to continue cowork in war on terrorism: Malik

ISLAMABAD: Interior Minister Rehman Malik on Monday said that Pakistan has rendered a lots of sacrifices in war against terrorism and the International community should acknowledged its contribution in this regard.He was talking to his British counterpart Theresa May who met with the minister in London according to a message received here, Rehman Malik said he has discussed mutual interest issues including elimination of terrorism, human trafficking, eradication of narcotics, visa issues of Overseas Pakistanis, border management, improving the performance of Pakistani Police and imparting training.He said that Pak-UK jointly working against terrorism and this cooperation would continue in future as well.Rehman Malik said that UK would also provide assistance for training and improving performance of Pakistan police. He said that during meeting he also raised the problems being faced by the Pakistanis prisoners in UK jails. Theresa May said that UK appreciate the efforts of Pakistan in war against terrorism. She said that UK also working with Pakistan on the illegal immigration and forced marriages. (APP)

LATEST/BRIEF  NEWS:

·       Gayari victims declared as 'Shuhada'

·       Pak, US working to restore Nato routes

·       I do not have British nationality: Malik

·       Dempsey for cutting some US aid to Pak

·       DG ISI postpones US visit

·       Five killed in Pindi hotel shootout

·        Pakistan may seek IMF funds: SBP

·       Cement, fertiliser stocks lead as KSE crosses 14,000-point barrier

·       Ukraine for increasing trade with Pakistan

·       Ukraine for increasing trade with Pakistan

·       Nuclear tests reply to India remembered

Business News:

  Tue, 29 May 2012

-Oil mixed amid Iran, eurozone concerns
SINGAPORE: Oil prices were mixed in Asian trade Tuesday as investors weighed the eurozone s mounting debt woes wit 

-Euro stays under pressure
TOKYO: The euro stayed under pressure against major currencies on Tuesday with traders still searching for a safe 

-Asian markets mixed amid Spain fears
HONG KONG: Asian markets were mixed on Tuesday as attention turned to Spain, where a growing banking and borrowing 

-Oil prices rise on Iran tensions, weaker dollar
NEW YORK: Oil prices rose on Monday as major crude producer Iran and Western powers failed to reach agreement over 

-Inflation slightly up week-on-week basis
ISLAMABAD: The Sensitive Price Indicator (SPI) for the week ended on May 24, for the lowest income group up to Rs8 

-Rupee remains under big pressure vs dollar
KARACHI: The extended its recent sequence of marking record lows versus the U.S. dollar, closing on Monday at 92.1 

-KSE 100-Index goes green on fertilizers
Fertilizers buoy up KSE benchmark index ISLAMABAD: The Karachi Stock Exchange closed up on Monday, with buying 

-LPG price up by Rs5 per kg
KARACHI: Marketing companies have increased the price of Liquified Petroleum Gas (LPG) by Rs5 per kg, Geo News rep 

-Asian markets rise after Greece opinion poll
HONG KONG: Asian markets rose on Monday as an opinion poll indicated a victory for pro-austerity conservatives in 

-At India-Pakistan border, a visa-free 400 metres
NEW DELHI: In a significant move that could show the way for putting in place a liberal visa regime between them, 

-Oil rises on Iran fears, easing of eurozone worries
SINGAPORE: Oil prices edged higher in Asian trade Monday as major crude producer Iran and Western powers failed to 

-Euro firms on pro-austerity boost in Greece
TOKYO: The euro firmed against the dollar and yen in a "relief rally" in Asia Monday as opinion polls suggested Gr 

-India to guarantee safe gas transit from TAPI
NEW DELHI: India will pay USD 13 per million British thermal unit (MMBTU) for buying natural gas through the much 

-Facebook deflates any thought of new tech bubble
NEW YORK: The horrendous stock market debut for Facebook suggests investors are not ready to jump in and create an 

-Headway on electricity import from India soon: Naveed Qamar
TANDO MUHAMMAD KHAN: Federal Minister for Water and Power, Naveed Qamar Saturday said talks were underway over imp

MOHAMMED SALEEM MANSOORI