KSE management, brokers reconciled over new system

KARACHI: The management of Karachi Stock Exchange (KSE) and brokers have stricken reconciliation on the new system of margin on the basis of individual investment, Geo News reported Wednesday.

The KSE management said under new system of margin, no broker would be able to use shares or amount of money of any sub accountholder in exposure, which will augment the confidence of investors.

Talking to Geo News, KSE member Naeem Rafi said that headway was made yesterday in removing all technical problems in the new system and the management assured that all the holdups in the system would be removed soon.

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Pakistan News

?Make revenue generation a criterion for resource distribution?

Karachi

General sales tax (GST) should be distributed on the basis of ?revenue generation? as per the National Finance Commission (NFC) Award,

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Pakistan News

AJK PM Sardar Yaqoob resigns

MUZZAFARABAD: Prime Minister Azad Kashmir Sardar Yaqoob has resigned from office, sources said on Wednesday.

Sardar Yaqoob is scheduled to address a press conference later today here at Kashmir House.

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31ST NG postponed on security concerns in Peshawar

PESHAWAR: The 31st National Games, scheduled to be held in November, have been called off due to unsatisfactory security situation in provincial capital Peshawar, Geo news reported on Tuesday.

According to NWFP sports minister Aaqil Shah, Pakistan Olympics Association (POA) has postponed national games owing to security reasons while the new dates on holding games to be announced next year.

He said the formal announcement on the decision will come from POA.

It is worth of mention, the National Games were to be held from November 15 to 21 in Peshawar, featuring more than 5000 players and officials from all across country and comprising 23 man and 10 woman events.

Meanwhile, players and organizations were of the view that the national games must be held here in Peshawar after assurance of foolproof security measures, sources said.

At least 1500 women were to participate in 31st national games who were disappointed over postponement of games, sources added.

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Pakistan News

Minister sports asks PCB not to accept Younis?s resignation

ISLAMABAD: Federal minister for sports Pir Aftab Shah Jilani said that the Pakistan Cricket Board should not approve the resignation of Younis Khan, captain Pakistan cricket team.

He said this while talking with media outside the Parliament House after captain Younis Khan and the PCB officials appeared before the National Assembly?s standing committee for sports.

Jilani said that the allegations of match fixing against the national team proved wrong.

He said that the ICC has also rejected the match fixing charges.

The minister sports said that players are usually very sensitive and their feelings should be respected.

He said that the PCB should not accept the resignation of Younis Khan.

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Corps commander Lt. Gen. Shahid Iqbal visits Kotri Firing Range

KARACHI: Corps Commander, Lieutenant General Shahid Iqbal, visited the Kotri Firing Ranges and witnessed the troops mastering their battle drills during the exercise on Wednesday morning.

This was stated in an ISPR press release issued here on Wednesday.

It said that the troops who were out in the field for training are busy in conducting field exercises at various levels.

The aim of this field exercise is to train the troops inoffensive and defensive operations with a view to practice modern techniques of employment of arms and latest methods of tactics, skillful use of terrain and employment of sophisticated weapons against broad spectrum of threats, the ISPR press release added.

It is worth mentioning that 2009 has been declared as ”Year of Training” by the Chief of Army Staff, General Ashfaq Parvez Kayani.

On arrival at Kotri ranges, the Corps Commander was received by General Officer Commanding Hyderabad, Major General Shahid Ahmad Hashmat.

He was briefed by Brigadier Muhammad Jamil, the Brigade Commander, on the conduct and methodology of the exercise.

This exercise which is organized for combined arms practice, will also examine the physical and mental endurance along with operational readiness of troops under trying and rough conditions.

The Corps Commander also witnessed the small arms firing of an artillery regiment and the soldiers Stress Course Fire in an Infantry battalion.

Speaking on the occasion, Lieutenant General Shahid Iqbal emphasized that excellence in training is the key to enhancement of operational preparedness.

He appreciated the high morale and the performance of participating troops.

Gen. Shahid Iqbal urged them to continue enhancing their professional skills, as it has proved to be a cutting edge in the modern-day warfare.

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Former greats rue skipper?s decision

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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PM Gilani meets Russian counterpart in Beijing

BEIJING: Pakistan and Russia on Wednesday agreed to strengthen their bilateral and economic ties in a bid to give new dimension to their relationship.

Prime Minister Syed Yusuf Raza Gilani and his Russian counterpart Vladimir Putin, who met on the sidelines of the annual meeting of Shanghai Cooperation Organization (SCO) here, vowed to adopt a policy of understanding in all fields of mutual interest.

Prime Minister Putin appreciated Pakistan’’s role in combating domestic challenges particularly the menace of terrorism and extremism.

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Pakistan News

Psychological problems affect children?s behaviour

Islamabad

A three-day conference on ?Developmental Psychopathology: Prevalence, Management and Prevention? started here on Tuesday to review ps

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US Congress?s explanatory statement to be added to K-L bill

WASHINGTON: U.S. Senator John Kerry and other congressional leaders have promised to add an explanatory statement to a new aid bill for Pakistan that has raised concerns in Islamabad.

US Congressional leaders sought to mollify Pakistan’’s concerns on a bill for providing USD 7.5 billion aid to that country, promising Foreign Minister Shah Mehmood Qureshi they would issue an “explanatory statement,” before the President signs it into law.

Qureshi is in town for the second time in less than a week -? this time with the mission of conveying to the Obama administration and Congress leaders the concerns expressed by the Pakistani Army and its leaders on the Kerry Lugar Bill.

Talking to reporters before meeting Qureshi, Howard Berman, Chairman of the House Committee on Foreign Affairs, said the House and Senate foreign affairs committees are preparing a ”Joint Explanatory Statement” detailing the intent and contents of the legislation to be released soon.

“The statement will explain what the bill does and what it does not do… Nor does the legislation infringe on Pakistani sovereignty,” Berman said.

He said the Kerry-Lugar Bill is meant to help Pakistan’’s people and to support counterinsurgency and counterterrorism operations, not to dictate what the country should do.

“Congress is very aware of the sacrifices that Pakistanis have made in order to take on terrorism,” he said.

He said with its unprecedented level of funding for economic, democratic and infrastructure assistance, the legislation signifies American people’’s lasting commitment to supporting the people of Pakistan.

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