ISLAMABAD: Presidential spokesman Farhatullah Babar has said that the ongoing hue and cry on the Kerry-Lugar bill is actually a propaganda against the democratic government.
Speaking in Geo News program ?Aaj Kamran Khan Kay Saath,? Farhatullah Babar said the Bill is not in clash with Pakistan?s basic interests.
He said the US government has devised the Bill for on its own. ?A bill was also passed in former president Pervez Musharraf?s regime and strong words were also used in it too,? he argued, adding, ?neither the then president or prime minister signed that bill.?
?It is in fact an attempt to malign President Zardari,? he maintained. He said no criticism was seen against any such bill in the past, although very strong words were used in them.
The Presidential spokesman said if anyone finds the Bill in clash with the country?s interests.
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ISLAMABAD: Former federal law minister Dr Sher Afgan Niazi on Wednesday said that he still hardly saw any chance of ex-military ruler General (retd) P
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ISLAMABAD: Foreign Minister Shah Mehmood Qureshi will return from New York tomorrow by cutting short his tour on the directive of the Prime Minister.
He will reach Islamabad from New York on Friday.
Prime Minister Yusuf Raza Gilani directed the Foreign Minister to return to Islamabad for briefing the Parliament about the details of Kerry-Lugar bill.
The Foreign Minister will wrap up the ongoing debate in the National Assembly on Kerry-Lugar bill.
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Pakistan stock index faces 10% ?breather,? Credit Suisse says
LONDON: Pakistan?s benchmark stock index may decline as much as 10 percent as it takes a ?breather? after outperforming the rest of Asia in the third quarter, Credit Suisse Group AG said.
The Karachi Stock Exchange (KSE)-100 Index rose 2 percent to 9,836.50 yesterday, extending a 68 percent annual gain. The advance was driven in part by 15 straight weeks of net inflows that brought $240 million of capital from foreign investors into the market, analyst Farid Khan said in a report today.
The Karachi index has already surpassed Credit Suisse?s year-end forecast of 9,000 and investors appear to be ?discounting? most of the good news in the near term, Khan said. The gauge is valued at 13 times reported earnings, more than double the level in January.
?We see an 8 to 10 percent correction as overdue now and expect the market to consolidate around the 9,200 level before treading ahead,? Khan wrote. ?The valuation gap vis-a-vis history and the region has now narrowed and the call on improving macro fundamentals has largely been played. Stock picking will be more important from now on.?
MCB Bank Ltd. and National Bank of Pakistan are among lenders that are ?ripe for profit-taking,? Khan said. Credit Suisse today downgraded National Bank, the country?s biggest by assets, to ?underperform? from ?neutral,? citing the stock?s gains over the past month.
The brokerage said it continues to find Pakistan Petroleum Ltd. and Engro Chemical Pakistan Ltd. attractive at current levels and would buy Oil Gas Development Co. and Pakistan State Oil Co. after declines of between 8 percent and 10 percent.
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LAHORE
A DIVISION bench of the Lahore High Court, comprising Justice Asif Saeed Khan Khosa and Justice Mian Saqib Nisar, on Thursday (today) w
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Karachi
There is a dire need for provision of money to maintain the Karachi Port Trust (KPT) and other infrastructures in Sindh which are gener
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Pakistan News
KARACHI: A new product of leverage at Karachi Stock Exchange (KSE) will take over one month to be introduced, Geo News reported Thursday.
Talking to Geo News, a director of KSE said the KSE will need over one month even if the suggestions which KSE sent to Securities and Exchange Commission of Pakistan (SECP) for new financing products, were approved.
He said in the event of new financing system, the exchange will have to make a new software, which will take time.
KSE director further said the SECP will allow margin trading in one to two weeks.
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Karachi
There is a dire need for provision of money to maintain the Karachi Port Trust (KPT) and other infrastructures in Sindh which are gener
More: continued here
Pakistan News
LAHORE
A DIVISION bench of the Lahore High Court, comprising Justice Asif Saeed Khan Khosa and Justice Mian Saqib Nisar, on Thursday (today) w
More: continued here
LAHORE: A division bench of the Lahore High Court, comprising Justice Asif Saeed Khan Khosa and Justice Mian Saqib Nisar, on Thursday (today) will hea
More: continued here