MQM to oppose impeachment
ISLAMABAD: The Muttahida Qaumi Movement (MQM) on Wednesday said it would oppose the proposed impeachment motion against President Pervez Musharraf. b
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Govt seeks 0.3mT urea from Saudi Arabia
ISLAMABAD: The government is in constant touch with Saudi authorities for provision of additional 300,000 tonnes of urea that would help meet the loca
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Reduction in price by the government
RawalpindiAll Pakistan CNG Owners Association Wednesday announced to observe complete strike on August 15 against the government decision of f
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KSE sinks to 9,902 points as investors lose confidence
KARACHI: Short covering shrank the day losses to moderate on Wednesday at the Karachi bourse otherwise fresh fall in value of rupee in parity with dol
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NWFP PA asks PM to announce Rs 10 bn relief package for flood victims
PESHAWAR: The NWFP Assembly, with Speaker Ikramullah Khan in the chair, on Wednesday demanded of Prime Minister Yousuf Raza Gilani to announce a speci
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ICC to sent delegations to convince reluctant stakeholders
KARACHI: The ICC’’s task team for the Champions Trophy in Pakistan has agreed to send delegations to meet with stakeholders from New Zealand, Australia, England and South Africa. The Task Force has confirmed the tournament will be staged at two venues - Lahore and Karachi, while Rawalpindi has been dropped for the eight-nation event. The group dispatched to the UK, led by ICC Chief Executive Haroon Lorgat, will present early next week, while the delegation to New Zealand and Australia, will be led by ICC General Manager - Cricket, David Richardson. That group will also include Tim May, the Chief Executive of the Federation of International Cricketers” Associations (FICA), and also Pakistan coach and former Australia fast bowler Geoff Lawson. It will present on 14 August (New Zealand) and 15 August (Australia). The decisions were approved as part of a telephone hook-up of the task team on Tuesday evening following two days of observations, meetings and presentations received by task team members in Pakistan. Explaining the decision to switch to two venues, Mr Lorgat, who led the task team’’s trip, said, “During the recently completed Asia Cup there were no fixtures at Rawalpindi and that didn”t allow us the opportunity to check the security arrangements, so there has been no way for us to formulate an opinion on the venue. “We believe that by excluding Rawalpindi and using just two venues, both of them successful hosts during the Asia Cup, it will remove doubt, allow a further concentration of resources and thus improve comfort levels for all stakeholders in the event.” The decision to focus the tournament on Karachi and Lahore was agreed by the task team and signed off by other stakeholders, including competing teams and player representatives. Lahore will stage eight of the tournament’’s 15 matches, including the opener between the hosts and the West Indies, on 12 September, the second semi-final on 26 September and the final two days later. Karachi will stage the remaining matches, including defending champions Australia’’s opening match, against India, on 13 September, and blockbuster encounters between Pakistan and Australia (15September) and India and Pakistan (20 September).
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Pakistan News
Rupee weakens to record low for third day
KARACHI: The rupee remained under pressure and hit another low against the US dollar on Wednesday amid rising demand of the greenback and volatile pol
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Suicide blast in Lahore, 8 killed, scores injured
LAHORE: Eight people have been killed including 5 police officials while 20 others have been wounded as a suicide bomber exploded himself at Allama Iqbal town near Dubai roundabout in Lahore amid Independence Day celebrations, police sources saidBomb disposable squad and rescue teams have arrived on the spot meanwhile the injured people have been shifted to the nearby hospitals.Suicide bomber was riding motorcycle who having reached near a police station beside Dubai roundabout blew himself up as the independence day celebrations were on progress, eyewitnesses said.Police and rangers troops have cordoned off the area while the security has beefed up in and around Iqbal Town.Emergency has been imposed and police and law enforcement agencies have been put on high alert in Lahore.
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SBP issues fresh guidelines on ICAAP
KARACHI: The State Bank of Pakistan (SBP) has directed all banks/DFIs to submit major findings of Internal Capital Adequacy Assessment Process (ICAAP)
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Pakistan plunges deeper into economic pit
ISLAMABAD: The free fall of key economic indicators continues unabated as Pak Rupee depreciated by Rs12.4 against US dollar and crossed Rs75, foreign
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Pakistan News