ISLAMABAD: Prime Minister Yousuf Raza Gilani is likely to convene a meeting of the Defence Committee of the Cabinet (DCC) soon to discuss the strategi

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LAHORE: The string of unabated electricity loadshedding is continued all across cities and villages in Punjab including the provincial capital Lahore, Geo news reported Thursday.

According to sources, 6 and 10 hours long power outages being carried out in cities and villages respectively as the total electricity shortfall has touched 3,700 megawatt.

PEPCO sources forecasted the sigh of relief for people soon, as the winter season is nearing, wherein, power shortage is expected to reduce by half, cutting short loadshedding hours in Punjab.

The generation of power has surged due to provision of furnace oil to Independent Power Producers (IPPs) while Southern Electric Power Company, Saba and Hubco power houses have also increased power generation, claimed PEPCO officials.

Also, a plan is likely on the cards to exempt textile sectors from loadshedding, sources predicted.

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Rawalpindi

Only 200-300 ?sasta tandoors? are operational in the city, contrary to the claims of 1,300 by local politicians and officials.
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KARACHI: Sindh Agriculture Minister Syed Nawaz Ali Shah told Sindh Assembly Thursday that PASSCO will purchase 400,000 maunds of paddy from Sindh’’s rice growers at Rs 600 per maund.

He stated this while replying to points of order raised by PPP’’s Haji Munawar Ali Abbasi, Dr Sikandar Mahendro, Anwar Maher and others.

Through his point of order Munawar Abbasi raised the issue of non-payment of price of paddy destroyed in rains by PASSCO and said that since it is a federal government subject, the Sindh Assembly should pass a resolution in this regard.

The view point of Dr Sikandar Mahendro had been that if we would not have good crop, it is going to affect the country’’s economy. He pointed out that Sindh is already faced with water shortage besides its unjust distribution which is affecting our economy.

He said Sindh’’s share comes to 41 million acre feet water which it is not getting and whenever there is shortage, Punjab gets higher share and Sindh is made to share the shortage of entire country and voice against it should be raised as we would not tolerate deprivation from our right.

Anwar Maher said that if this issue should is handled in a proper way, then there would be no crisis in the future.

On a point of order leader of the opposition Jam Madad Ali said that ginning factories are creating problems for growers and not paying them the fixed rate of cotton. He said that sugar mills should be started on time to avert sugar crisis.

Ms Humera Alwani on her point of order asserted on implementation of 1991 water accord and the problems faced by growers of Badin and Thatta be redressed as lot of their land has been affected by sea intrusion.

Shhahyar Maher of PML(F) said that there has been confusion on the issue of local government system and stressed that opposition and people at large should be kept abreast with the decisions taken in closed doors.

Nuzhat Pathan of PML(Q) said if someone is conspiring against democratic government, a united stand be taken against them. She said that load-shedding is adversely affecting business and industry.

Retorting to critics, Law Minister Ayaz Soomro said that past should not be repeated here and it would be better if assembly is run under a conducive environment.

He pointed out that during Ramazan this very government provided a Rs 2 billion subsidy on atta and opposition should make mention of good deeds as well. He said genuine criticism will be welcomed but opposition should exhibit tolerance and patience.

He said the Bill regarding the restoration of Commissionerate system would be passed in the current session of Assembly and the upcoming system would be in accordance with the 1973 Constitution with Mayor and Chairman at the helm of affairs in the city.

On his point of order Syed Sardar Ahmed (MQM) referred to an amendment in rules of procedure which he said is lying pending. He said if this amendment is carried, it would not allow misuse of Points of Order and members could raise issues and seek replies from Ministers on Call Notice.

PPP’’s Sharjeel Memon asked health department to send special teams to Thar to deal with snake bit cases, Bilquees Begum (MQM) sought media cooperation in the search for missing children and said that if they can raise issues of actresses, they should help provide succour to mothers of missing children.

Bachal Shah spoke about rising water logging and salinity in Khairpur district and demanded that tube wells lying closed be restarted to control the menace.

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KARACHI: Pakistan bought 70,000 tons of urea from Singapore’’s Dreymoor Fertilizers Overseas Pte. Ltd. to meet demand for the wheat sowing season.

Trading Corporation of Pakistan bought the urea for $288.81 a ton, TCP officials said on Thursday.

Pakistan plans to import 600,000 tons of urea before the wheat sowing season begins in November.

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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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PESHAWAR: The treasury and opposition lawmakers in the NWFP Assembly on Wednesday condemned the statement of the British Prime Minister Gordon Brown t

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ISLAMABAD: The Lower House of the Parliament Thursday passed three bills with majority vote.

These bills included the NFC Institute of Engineering Technology Multan Bill 2009, the Stock Exchange (corporatisation, demutualization and Integration of stock exchange in Pakistan) Bill 2008 and the Modarba Companies and Modarba (Floatation and Control (amendment) Bill 2009.

Minister for Parliamentary Affairs Dr Babar Awan moved the Bills in the House which were not opposed by the opposition.

After the first reading, the Chair put the Bills to the House clause by clause and the Bills were passed.

The NFC Institute of Engineering Technology Multan Bill 2009 continued from overnight and rest of its clauses out of total 42 clauses were approved Thursday.

In the second reading of the Stock Exchange (Corporatisation, Demutualization and Integration) Bill 2008, the Chair put all the two to 27 clauses to the House in single reading and were passed by the House.

In the third bill, both of its clauses were also passed with majority vote.

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LAHORE: Capital City Police Officer (CCPO) Lahore Muhammed Pervaiz Rathore Thursday directed the police to have strict vigil on the vehicles? workshops and mechanics working there, so that the vehicles being used in the terrorist activities could not be repaired or their colour be changed.

Addressing a meeting of Lahore police, he urged the officers to effectively plan to cope with the emergency situation.

The shopkeepers selling revolving blue, yellow and red lights should be directed to sell these lights to the concerned authorities and keep compete record in this connection, he said.

CCPO Lahore said it should be made binding upon the shopkeepers of dangerous chemicals to keep the documents including the copies of identity cards of the buyers.

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KARACHI: Pakistan Cricket Board Chairman Ijaz Butt Thursday rubbished recent match-fixing allegations leveled against the national team and defended the players after their ICC Champions Trophy defeat.

Pakistan’’s loss to Australia in a Champions Trophy’’s group match and their defeat at the hands of New Zealand in the semi-final last week sparked allegations that the team threw the matches. Jamshed Dasti, chairman of National Assembly’’s standing committee on sports, asked captain Younus Khan and coach Intikhab Alam to explain reasons for disappointing knock-out in South Africa. Although Dasti later backed down from his accusations, PCB defended the players.

“The parliamentarian has a right to criticize the working of the Board but he should not have criticised the team which did very well in the Champions Trophy. There is no proof of fixing,” Butt told reporters on his return from South Africa.”Indian media first levelled such allegations last week… all such things are baseless,” he added.

Pakistan was at the top of their group when they lost to Australia last Wednesday, which had no bearing on their progression to the semi finals. But if Pakistan had won against Australia, India would have had as hot at making it though to the semi-finals on points.

Pakistan’’s defeat ensured their arch-rivals were knocked out of the tournament.

The International Cricket Council also rubbished the latest allegations of match-fixing, saying they were not worth investigating.

Butt said he was satisfied with the team’’s performance in the Trophy. “This is cricket, and we are ready to explain the team’’s performance to parliament committee,” said Butt of the meeting scheduled for October 13.

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