LONDON: The price of gold leapt to a record peak above 1,070 dollars per ounce here on Wednesday as the dollar slid in value against the European single currency.

On the London Bullion Market, gold struck 1,070.80 dollars an ounce, which was the highest level in history.

The latest peak was forged as the euro surged above 1.49 dollars for the first time since August 2008.

In recent days and weeks, gold has enjoyed a record-breaking run as the tumbling dollar has stimulated demand.

A fading US dollar makes the precious metal cheaper for investors holding other currencies. Gold is used in jewellery, dentistry and electronics.

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OKARA: At least three people died including a student and 30 other students received injuries as a truck and a speedy students? van collided near Okara on Tuesday, Geo news reported.

According to sources, a fast moving van full of college students collided with a roadside parked truck, which killed 3 persons on the spot including a student while 30 more students sustained injuried.

The dead student was identified as Kashif Ghani meanwhile, some critically injured students were referred to Lahore hospitals, sources added.

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ISLAMABAD: The Prime Minister of Azad Jammu and Kashmir (AJK) Sardar Yaqoob has resigned from the office, Geo news reported on Wednesday.

AJK premier announced his resignation amid a press conference here.

It is worth of mention that a non-confidence motion against Sardar Yaqoob was tabled in Azad Kashmir?s legislation assembly, which was to be voted on Tuesday but he announced his resignation before vote.

Subsequently, vote for new AJK premier will be cast on Thursday, sources said.

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Karachi

The Sindh High Court (SHC) issued pre-admission notices to Prosecutor General Sindh and others on a petition filed by the widow of Abdu

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ISLAMABAD: Former cricket greats on Tuesday blamed political interference for Younis Khan?s decision to resign as Pakistan?s captain, calling it a blo

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ISLAMABAD: Federal Minister for Population Welfare, Dr Firdous Aashiq Awan Wednesday said that National Trust for Population Welfare (NATPOW) had been reactivated after almost ten years.

Federal minister made this announcement while addressing a news conference here and said NATPOW formally started its functioning this month after Prime Minister Syed Yousuf Raza Gillani had approved its reactivation during his visit to ministry few months ago.

She hailed Prime Minister for allowing the reactivation of NATPOW and hope that it would prove its commitment. She said NATPOW was started by the then prime minister Benazir Bhutto during her rule but later its funding was stopped in 2000.

Minister informed that media incumbent government was likely to approve 436 million PSDP Fund for five years plan period (2009-14) for NATPOW, as since year 2000 no funding has been made, she added.

She further said that more than local and international 700 NGO’’s as partners were registered with NATPOW in past, which would be registered again.

“The process of registration of NGOs would be completed soon” she said. She said through NGOs MoPW would convey its message to international donors that social sector in Pakistan still needs improvement.

Firdos Ashiq Awan said when the funding would be started donors and NGOs trust would be developed to help the Population Policy. She said with MoPW the Board has put in all their Endeavours to restructure the organization envisioned by Benazir Bhutto and PMYousuf Raza Gillani.

Speaking at the occasion, Senator Surayya Moheen who has been appointed as Chairperson of NATPOW thanked Federal Minister forgiving her the portfolio. She vowed that all the productive projects and programs started by late BB would be completed.

She said PPP-led incumbent government was committed to ensure every facility to the masses and hoped that NATPOW would prove its credibility and objectives within one year.

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ISLAMABAD: The talks between officials of Pakistan and International Monetary Fund (IMF) for the issuing of 4th installation of loan to Pakistan would be held in Dubai next month.

A private TV channel while quoting officials of Finance Ministry said that the next phase of talks would be held in Dubai from November 2 to 13. Technical talks would be held from November 2 to 9 while focused would be on policy matters from November 10 to 13.

The meeting would take decision regarding 4th installation of loan to Pakistan while the economic targets set for Pakistan till September 30 would also be reviewed in the meeting.

Federal Minister for Finance Shaukat Tareen and Governor State Bank of Pakistan Syed Saleem Raza would leave for Dubai on November 8 to participate in the meeting.

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ISLAMABAD: The opposition in the National Assembly on Tuesday questioned the sudden departure of Foreign Minister Shah Mahmood Qureshi to Washington w

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LAHORE: Further four matches were decided in the All Pakistan Benazir Bhutto Shaheed Basketball Championship here on Tuesday.

In the Championship being held at basketball courts of the Railway Stadium Lahore, Pakistan Army outplayed Pakistan Railway 83-58. Mehar Alam scoring 22 played an important role in his team?s success.

Pakistan Navy defeated Rangers 73-63 and Pakistan Railway beat Punjab Police 74-60 while Pakistan WAPDA recorded their one-sided victory over POF Wah Cantt 70-32.

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WASHINGTON: Pakistan’’s foreign minister said Wednesday he would return to his country satisfied that a multibillion-dollar U.S. aid package does not hurt Pakistan’’s sovereignty.

Shah Mahmood Qureshi said U.S. assurances would ?allay the fears of Pakistan.”” U.S. lawmakers, however, have no plans to change the bill, which awaits President Barack Obama’’s signature into law.

A week after he dismissed complaints in Islamabad about the aid bill, Qureshi made a rushed return visit to Washington on Tuesday amid angry cries in Pakistan that the bill is an attempt to interfere with the military and civilian government.

Democratic Sen. John Kerry, a co-sponsor of the bill and head of the Foreign Relations Committee, told reporters after meeting with Qureshi for the second time in two days that a statement attempting to clarify points in the bill would be entered into the congressional record.

Qureshi called the explanatory statement ?historic.”” But lawmakers frequently put comments and documents, even congratulatory notes for local sports teams, into the congressional record. They do not have the force of law.

The bill, Kerry said, shows the strong U.S. commitment, even in times of economic hardship, to the well-being of Pakistan’’s people, and is not an attempt to compromise its sovereignty ?or micromanage any aspect of Pakistan’’s military or civilian operations.””

?Everybody is on the same page, and we are very clear about the intentions of the legislation,”” Kerry said of Qureshi’’s hastily arranged meetings Tuesday and Wednesday with senior lawmakers and Obama administration officials.

The bill would provide Pakistan with $1.5 billion a year over the next five years to spend on democratic, economic and social development programs. But Pakistan’’s military has objected to language that links money for counterterrorism assistance to Pakistan cracking down on militancy and meeting other conditions.

The legislation also requires the U.S. Secretary of State to report to Congress every six months on whether Pakistan’’s weak, U.S.-backed civilian government maintains effective control over the military, including its budgets, the chain of command and top promotions.

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Pakistan News