KARACHI: The local equities market witnessed a mixed trend Thursday as the benchmark KSE-100 Index moves slightly up by 10 points to close at 9,737.

The market started with positive activity and buying in oil and gas, cement and, banking sectors pushed the Index beyond 9,800 level. But later report of rupee hitting the lowest level prompted some profit taking and the Index closed at the current level.

Lotte Pakistan remained the volume leader, advancing by paisas 31 to close at Rs9.15.

The market analysts believe that solid financial results can fuel positive momentum of the share market.

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LAHORE: Pakistan Muslim League-N Chief Nawaz Sharif will visit Peshawar Friday to preside over meeting of PML-N?s provincial organizing committee.

Former chief minister of NWFP, Sardar Mehtab Abbasi, Pir Sabir Shah and others leaders will attend the meeting.

This will be the last meeting of PML-N?s provincial organizing committee after which the party?s convention will be held in Lahore. According to PML-N sources, Mian Nawaz Sharif will make an important announcement in the convention.

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KARACHI: The total liquid foreign reserves held by the country stood at 15.0312 billion dollars on January 02, 2010, sources of State Bank of Pakistan (SBP) said here Thursday.

SBP spokesman, Wasimuddin told Geo News that the country?s total foreign exchange reserves increased by 1.06 billion dollars to 15.0312 billion dollars.

According to break-up the foreign exchange reserves held by the State bank of Pakistan amount to 11.2379 billion dollars while those with banks (other than SBP) 3.7573 billion dollars.

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ISLAMABAD: President Asif Ali Zardari on Thursday underlined the need for the strategic long term partnership between Pakistan and the United States to be based on mutual interest, respect and mutual trust.

He hailed President Obama’’s affirmation of US commitment to Pakistan’’s stability, security and prosperity and said that democratic stability in Pakistan is contingent upon advancement of our development agenda for which US support is critical.

The President was talking to a US congressional delegation which led by Senator John McCain called on him here at the Presidency on Thursday afternoon.

The delegation besides Senator John McCain included Senator Joseph Liberman, Senator Johan Barrasso, Christian Brose, Foreign Policy Advisor, Vance Serchuk and Brooke Buchanan. US ambassador in Pakistan Ms Anne W. Patterson and senior officials of the US embassy were also present.

The Pakistani side comprised Defence Minister Chaudhry Ahmad Mukhtar, Finance Minister Shaukat Tareen, Interior Minister Rehman Malik, Secretary General to the President, M. Salman Faruqui, Ms Sughra Imam, Ms Farahnaz Ispahani and other high officials.

The President stressed the need for market access for Pakistani goods into the US and EU markets and asked the congressional delegation to play their role for early adoption ofROZs” legislation in the Congress which would usher in a new era of socio-economic development in areas affected by war against militancy.

The President while appreciating US assistance for Pakistan said that the assistance could be channeled through the government in accordance with our priorities and programs and ensured transparency, accountability and efficacy in terms of results.

The President said that the economic cost of the war against terror amounting to US $ 35 billion for the last eight years has almost paralyzed Pakistan’’s economy.

“Pakistan has been facing delays in payments of coalition support Fund claims”, the President said and urged for timely reimbursement of over one billion dollars on account of CSF.

Referring to President Obama’’s new Afghan strategy the President said that Pakistan has legitimate interests in promoting peace and stability in Afghanistan and urged that US must remain sensitive to Pakistan’’s core national interests and concerns. US actions should remain on the Afghan side of the border, he added.

The President also pointed out that drone attacks on Pakistani territory undermined the national consensus against the war on militancy.

He urged the American delegation to persuade the US policymakers to give drone technology to Pakistan so that the militants could be targeted by Pakistan’’s national security forces themselves rather than by foreign troops which raised questions of sovereignty.

The delegation appreciated Pakistan’’s role in the war against extremism and militancy and assured full support in taking this war to the logical end.

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ISLAMABAD: Federal Minister for Oil and Gas Naveed Qamar said Thursday that he was not satisfied with the working of Karachi Electric Supply Corporation. However, the government could intervene at some point if the situation did not improve.

Addressing a press conference in the federal capital, he admitted that main reason for the circular debt was the non-payment of dues from the KESC to PEPC. The amount was to be delivered to Pakistan State Oil it had to pay for the purchase of Furnace Oil, he said.

Qamar said that the government was doing its utmost effort to end the problem of circular debt.

He further said that the cabinet?s decision would not be exceeded for the CNG blockage.

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KARACHI: Chairman of the Competition Commission of Pakistan, Khalid Mirza, announced on Thursday that the commission would conduct next hearing on sugar crisis and its related links on January 25.

Speaking at a workshop in Karachi, he said that if the facts proved any other link then the fine would be imposed on sugar mills.

The commission would become a more autonomous body if a small share of fee being charged by regularity authority is given to Competition Commission, he said.

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ISLAMABAD: ?Merit and merit alone? is the only criteria for any promotion from Grade 21 to Grade 22 in accordance with the Civil Servants Act 1973 and

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WANA: Four more militants have been killed in Swat as military operations continue in South Waziristan and Swat, ISPR said Thursday.

Security forces conducted search and clearance operation at Chaghmalal on Jandola Sector and cleared 25 compounds.

On Shakai Sector, security forces conducted search operation and cleared Ghani Khel, Ane Zhawar, Yargha Khel, Ghundaka Mamei Khel near Kaniguram and recovered cache of arms and ammunition.

Security forces conducted search operation near Pash Ziarat, Qalandar, Makeen, Dashkai Algad, Pir Khel near Mir Khoni near Makeen on Razmak Sector, cleared 82 compounds and recovered cache of arms and ammunition.

Terrorists fired with small arms at Lita Sar Post near Makeen which was effectively responded by the security forces.

Security forces conducted search operation at Khajuri and apprehended 4 terrorists along with arms and ammunition.

In operation Rah-e-Nijat in Swat ? Malakand, security forces conducted search operation at Pul Bela near Bahrain, Kuz Bama Khela, Mera Mai, Muz Durshkhela, Langar, Mashkomai and Chiakolai and apprehended 3 suspects alongwith arms and ammunition. During encounter 4 terrorists were killed.

Security forces conducted search operation at Panr, Allahabad, Titawali, Dakorak, Chbaghand Fazagat and apprehended 1 suspected terrorist and also recovered cache of arms and ammuniton.

A total of 28,356 Cash Cards have been issued to displaced families of Waziristan.

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LAHORE: Lashing out at the batsmen for defeat in Sydney Test, Chairman Selection Committee Iqbal Qasim said that such performance could not tolerated.

In a strong message to the players, he said they will have to perform for retaining their places in the team.

Qasim said the committee has decided to send Sarfaraz Ahmed to Australia to strengthen the wicketkeeping department.

Speaking to media after meeting with PCB Chairman Ejaz Butt at Qaddafi Stadium here, he said that the decision to send Sarfaraz Ahmed was not made in consultation with the team management. However, they were informed about the decision.

The team performance has been very poor, he said, adding that too many changes in the touring team don?t bode well. He said that performance of every player would be thoroughly evaluated after the conclusion of Australia tour.

The former spinner said that it was no the first time that our batsmen had let us down, noting that similar thing happened in the last two matches also.

Qasim announced that team for the ODI matches would be named next week. He said that four to five changes were expected. Players like Khalid Latif and Rao Iftikhar could be recalled as they had been part of the ODI team for quite a while now.

To a question, he said that inclusion of Younis Khan could also be considered.

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KARACHI: Young wicketkeeper Sarfaraz Ahmed hoped that he would give his 100 percent performance against Australia if given a chance to play in the third match.

He said that it was like dreams come true when he heard the call about joining the squad in Australia.

In view of performance struggling Kamran Akmal, the Pakistan Cricket Board (PCB) has decided to send wicketkeeper Sarfaraz Ahmed to Australia.

Ahmed will head to Australia on Friday. He is currently representing Rest of Pakistan against Sialkot Stallions in the Pentangular Cup.

Speaking to Geo, he said that he would play against Aussies with a positive frame of mind. If he made his debut in Hobart Test, he would also try to bat well in addition to keeping wickets.

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