RAWALPINDI: Ministry of Water and Power Saturday claimed that power shortfall has reduced to 1499 MW following decrease in its demand, however, load-shedding continues to be undertaken in various areas.

According to the Ministry of Water and Power, in the last three days the demand reduced by 1000 MW to 15,111 MW while the production stands at 13,612 MW.

Meanwhile, 6 to 8 hour load-shedding continues in Rawalpindi, Islamabad and other areas. Reports of prolonged power outages have also been received from various areas of Rawalpindi.

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LAHORE: The secret agencies, having go-ahead from Punjab Government, handed police the names and other details of three influential sugar mill-owners of the province involved in sugar hoarding scam.

According to sources, the government of Punjab took serious notice of sale of sugar on exorbitant prices after hoarding over lakhs tonnes of hoarded sugar by sugar mills owners and dealers.

The sources said the secret agencies have given the names of these people to police, adding the police have started the spat of raids on the places where sugar has been stashed.

The sources further said strict action would be taken against these people, howsoever influential they may be.

Chief Minister Shahbaz Sharif is especially monitoring the sugar price.

The sources said the sugar price would be brought down to Rs40 before the advent of Ramazan and the people responsible for the crisis would be brought to justice.

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SINGAPORE: Oil prices posted their biggest loss in more than two weeks on Friday after a report showing weak U.S. consumer confidence darkened the economic outlook and tanked stocks on Wall Street.

U.S. crude oil futures fell $3.01, or 4.27 percent, to settle at $67.51 a barrel while London Brent crude fell $1.07 to settle at $72.41.

Stocks on Wall Street tumbled on the news as investors worried sluggish consumer activity would prolong the economic recession.

“Crude futures are down, following a slide in the stock market and after the Reuters/University of Michigan survey showed consumer confidence down earlier this month,” said Tom Pawlicki, analyst at MF Global Research in Chicago.

Oil prices remain more than double their winter lows below $33 in December, with most of the support for commodities markets so far this year finding root in economic optimism.

Data on Thursday showed Germany and France had posted second quarter growth, ending their recessions in April-June, which was earlier than expected.

Some of the market’’s attention has also been on the weather in the Atlantic Ocean, which could soon see its first named storm of the hurricane season.

Tropical storms and hurricanes can disrupt operations at offshore platforms and coastal refineries but many forecasts are for a mild hurricane season this year.

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KARACHI: Federal Minister for Information and Broadcasting Qamar-uz-Zaman Kaira has said that local bodies? issue is a provincial matter and that the provinces will be authorized to take any decision regarding its fate.

Giving briefing to media about details of President Asif Ali Zardari?s engagements, the Minister said the issue of local bodies will be resolved, not only by keeping in view Karachi and Hyderabad, but all the four provinces.

On the occasion he announced that land will be distributed among over 40,000 landless farmers.

To a question he said, power crisis in Karachi has nothing to do with generation it is only relating to the distribution system of KESC which has been given a deadline of September 15 to make necessary up-gradations.

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ISLAMABAD: Industries and Production Minister Manzoor Ahmed Wattoo claimed that mills owned by Mian Nawaz Sharif and Humayun Akhtar were involved in s

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Force and violence is never a recommended option to solve problems but a civil war is truly tragic. Unfortunately, Pakistan these days finds itself in

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SOCHI: German Chancellor Angela Merkel said on Friday she had a clear preference for Magna?s Russian-backed bid to buy control in General Motors? stru

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KARACHI: The crackdown on the sugar-hoarders is being carried out across the country, Geo News reported Saturday.

The government has arrested several people involved in creating an artificial crisis of sugar and recovered lakhs of hoarded sugar in various cities.

At least 2000 sugar bags were recovered in Hafizabad, 30,000 in Sargodha, 5530 bags were taken in custody in Bukhar; 1500 bags in Khushab, 845 in Pindi Bhatian, 12500 in Pakpattan, 18,000 in Gujrat, 430 in Mianwali, 2,427 in Sheikhupura, 15,000 in Chichawatni, 10,586 in Joharabad; while, 600,000 bags were captured in Bahawalnagar.

In raids in Jalapur Bhatian, 995 bags, 2,107 in Kamalia and 8,000 bags were taken in custody; also, 15 shops were sealed and their owners have been arrested.

Similarly, 800,000 sacks of sugar were taken in custody in Toba Tek Singh, 15,000 from Lahore and over 6000 sacks were captured in Ghaziabad.

According to sources, there are over 800,000 sugar sacks present at 42 sugar mills of Punjab; these will be brought to market in the holy month of Ramazan.

Meantime, Punjab CM ordered all the dealers to announce the quantity of their stocks and sell them in the market.

While, DCO Karachi Javed Hanif said police have taken in custody 36,000 sugar bags and over dozen people have been nabbed for hoarding sugar.

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Islamabad

In order to infuse the spirit of patriotism in the youth, Preston University organised a Mehfil-e-Mushaira on Thursday evening, which

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ISLAMABAD, Pakistan, Aug. 15 (UPI) — Pakistani President Asif Ali Zardari says extremists will be weakened by allowing his nation’s battle-scarred tribal areas to have political parties.

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