Tuesday, 7 August 2012

LATEST NEWS UPDATE:08.08.2012







PPP resolves not to write letter

ISLAMABAD: The People’s Party will not write a letter to Swiss authorities for reopening cases against President Asif Zardari and will ‘resist’ actions by the Supreme Court within bounds of the Constitution, the PPP resolved on the eve of Wednesday’s hearing in the NRO implementation case.
The PPP’s frontline leaders met in the presidency on Tuesday night and chalked out a strategy to cope with the situation if the Supreme Court showed the door to the prime minister for contempt of court over not obeying its orders in connection with writing the letter.
Political and legal observers believe the government-judiciary tussle will intensify in the days to come as they expect that Prime Minister Ashraf could also be ousted like his predecessor Yousuf Raza Gilani was removed for contempt of court.
As all eyes are now on the Supreme Court and its Wednesday’s decision.
The PPP also called a meeting of its parliamentary party in Islamabad on Wednesday to devise a line of action against the backdrop of the court’s proceedings.
The meeting held on Tuesday “expressed determination to resist within the bounds of law and the Constitution the emergence of new centres of legislative power other than the elected parliament,” the president’s spokesman Farhatullah Babar said.
“Lawmaking is the sacred responsibility of legislature which will not be abandoned at any cost.”
Law Minister Senator Farooq H. Naek briefed the PPP stalwarts about legal challenges and the strategy adopted to confront them. The meeting expressed satisfaction with the strategy.
The meeting, which was also attended by former prime minister Gilani and PPP chairman Bilawal Bhutto Zardari, reposed full confidence in the leadership of President Zardari and Prime Minister Ashraf.
At its last meeting, the ruling coalition had decided to face emerging challenges with conviction and ‘force’ and this was shown by PPP’s leaders as they were found more critical in their statements and press conferences against the Supreme Court and Chief Justice Iftikhar
Muhammad Chaudhry.

Inside sources said the PPP leaders were hopeful that the prime minister would survive for two to three months even if the apex court ordered his removal.
Under the party’s new strategy, the prime minister will appeal against not only the striking down of the contempt of court law introduced recently but also possible removal of the second PPP premier. He will also say in the court that the president enjoys immunity under Article 248 of the Constitution and no case can be heard against him in and outside the country.
Senior lawyer Aitzaz Ahsan, for the first time, accused the Supreme Court of partiality.
“We support judicial activism but it should be on the basis of equality. Judiciary is free and independent but it should not be out of the ambit of the Constitution,” he said.
Mr Ahsan said no trial could be held against an incumbent president in any court.
Another senior lawyer, Khalid Javed, said the prime minister would get some time for reply and appeal, but the atmosphere of
confrontation between the government and the judiciary would continue.

He, however, said there was no middle way in the case and the court would stick to its stance that the prime minister had to write the letter.
Former law minister Babar Awan said Swiss authorities would not accept any letter from the prime minister because according to their law it had to be written by the attorney general. “A Swiss court will not accept the prime minister’s letter,” he said.
The PPP’s ‘core committee’ discussed the situation with focus on preparation for elections, overcoming the energy crisis and the legal challenges before the government.
“The president called upon the party leaders to gear up preparations for future elections which, he emphasised, would be held on time in accordance with the constitutional and legal dictates and in consultation with coalition partners,” the spokesman said.
The president advised his party’s leaders to ensure that every MNA, MPA and ticket-holder thoroughly checked the voters’ lists so that no one was left out and report any discrepancy to the Election Commission for rectification.
The president was quoted as saying: “The PPP believes in the power of the people and is never shy of reverting to the people for endorsement of its policies. The party believes in free, fair and transparent elections for which it is important that the electoral rolls should be free of errors and no eligible voter is left out of it.”
He ruled out the possibility of an interim set-up and said holding of next general elections in time, at the end of the tenure of the present assemblies, would be another important milestone in the nation’s journey towards strengthening of democracy.
POWER CRISIS: The Minister for Water and Power, Chaudhry Ahmed Mukhtar, briefed the meeting about the energy situation and said in view of the critical nature of the power issue and the problems faced by the people, repair of high-voltage pylons in Muzzaffargarh had been
carried out on a war footing and power to the national grid had been restored.

He said that with necessary financial resources being put in place for fuel and an expected rise in water level of dams, power generation would further improve.
The meeting was informed about progress in implementation of the federal cabinet’s decision about zero duty on the import of solar panels.
The president said solar-based energy would significantly reduce the pressure on the power sector. In addition to this, work on small dams in various parts of the country is also being done on a priority basis

NRO implementation case: SC resumes hearing

ISLAMABAD: The Supreme Court on Wednesday resumed the hearing in the NRO implementation case, DawnNews reported.
A five-judge special bench of the apex court, headed by Justice Asif Saeed Khosa, was hearing the case.
Earlier on Tuesday, the Pakistan People’s Party had decided it would  not write a letter to Swiss authorities for reopening cases against President Asif Zardari and would ‘resist’ actions by the Supreme Court within bounds of the Constitution.
During the previous hearing of the NRO implementation case, the Supreme Court had suggested to the government to  find a way out of the impasse between the executive and the judiciary.
During the July 25 hearing of the case, the bench repeatedly asked the government through the attorney general to use wisdom and find a solution to vindicate the positions of the two institutions perceived to be at logger heads, also implying that it was not in a mood to send another prime minister home and conceding that President Zardari enjoyed immunity from prosecution in criminal cases.

Egypt army kills 20 militants in Sinai: official

AL-ARISH: Egyptian military troops and jets killed 20 militants in the Sinai region bordering Israel on Wednesday, striking back after armed men attacked several security checkpoints, an army commander in Sinai told Reuters.
“We have succeeded in entering al-Toumah village, killed 20 terrorists and destroyed three armoured cars belonging to terrorists. Operations are still ongoing,” he told Reuters.
The military offensive follows attacks on Sunday that killed 16 border guards and which the government blamed partly on Islamist militants.
The commander said the army had received information that many militants were in al-Toumah village.

LATEST/BRIEF  NEWS:

·       Legislation right of parliament: PPP
·      US sweetens Taliban prisoner proposal
·      Nawaz slams PPP government, allies
·      Imran to take Asif, Nisar to court
·      Khi: Two dead bodies in gunnybags found
·      Singer Jennifer Lopez files $20 million extortion suit
·      Islamic scholar Shah Turab-ul-Haq admitted to hospital
·      Peshawar blast injures 3 security men
·      ECC approves POL prices revision on weekly basis

Business News:

EXCHANGE FOR CURRENCY NOTES:

U.S.A              95.39
S.Arabia         25.44
U.K                 148.98
Japan              1.2159
Euro               118.23
U.A.E             25.97




BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct)    Rs 49,028
Silver Tezabi              Rs 805.71


 Wed, 8 Aug 2012

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Crude down in Asia
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US watchdog''s Iran ambush leaves StanChart reeling
HONG KONG/LONDON: A New York bank regulator s broadside against Standard Chartered Plc for allegedly hiding $250 b

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Oil prices extend gains; Brent above $110
LONDON: Oil prices rose further Tuesday after recent sharp gains on concerns over potential tight supplies despite

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Iran to buy Pakistan wheat on barter
KARACHI: Iran will buy wheat from Pakistan in exchange of fertilizer and pig iron, as an agreement for the purchase

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Oil lower in Asia
SINGAPORE: Oil prices were down in Asia Monday with traders taking profits from a rally last week as they awaited

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Producers raise LPG price by Rs19 per kg
KARACHI: Local producers of liquefied petroleum gas (LPG) have increased prices by Rs19,000 per ton in accordance

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NR
ISLAMABAD: The ministry of petroleum and natural resources (MPNR) Friday briefing the national assembly standing

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Asian markets hit by ECB disappointment
HONG KONG: Asian markets retreated and the euro came back under pressure on Friday after the European Central Bank

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Oil rebounds in Asian trade
SINGAPORE: Oil was higher in Asian trade Friday, recovering from overnight losses sparked by disappointment over t

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Karachi: Chakki flour price/kilo jacks up by Rs2
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Pakistan-India electricity trade talks held
ISLAMABAD: Second meeting of group of experts on trade of electricity between Pakistan and India on Thursday discuss

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Karachi traders set to take up guns against extortionists
KARACHI: The businessmen in the financial hub of Pakistan have warned that if law enforcement agencies continued t

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Forex reserves further slip to $14,575bn
KARACHI: Country s foreign exchange reserves have further declined by $ 198 million to about $ 14,575 billion as o

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Rs10bn released to Water, Power Ministry
ISLAMABAD: The Finance Ministry has released Rs10 billion to the Ministry of Water and Power for making payments a

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Euro firms ahead of European Central Bank meeting
TOKYO: The euro firmed in Asian trade on Thursday as markets waited to see what, if any, action the European Centre




MOHAMMED SALEEM MANSOORI

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