Tag Archives: Local

Oil price hike augurs well for local refineries

Oil price hike augurs well for local refineries

KARACHI – The surge in the international oil prices has improved the domestic refinery operating environment by augmenting their Gross Refinery Margins (GRMs), market analysts said on Thursday. The GRMs is a vital gauge for the profitability of oil refinery sector.
The analysts opined that gross margins for the refineries in the local market were all set to respond positively to $2.6 per barrel during this month as compared to -$0.4 per barrel in the preceding month.

SC wants foreign investment, but subject to local laws

ISLAMABAD – Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry said on Wednesday that the Supreme Court neither wanted to block any foreign investment nor was it against it in any way, however, it wanted foreign investment to be subject to local laws.
A three-member bench comprising the CJ, Justice Muhammad Sair Ali and Justice Ghulam Rabbani was hearing a case against the leasing of Reko Diq gold and copper mines in Balochistan – worth over $260 billion – against the

Punjab abolishes key local government posts

LAHORE – The Punjab government has abolished the posts of four executive district officers (EDOs) and three deputy district officers (DDOs) from the district administration, Pakistan Today has learnt. The move is a part of the review and rationalisation of departments initiated by the Punjab government. Punjab chief minister constituted a cabinet committee, headed by Sardar Zulfiquar Khosa to spearhead the rationalisation process, and abolished a total of 234 posts of EDOs and DDOs on

No local, international pressure will be accepted: Sanaullah

LAHORE – Punjab Law Minister Rana Sanaullah has said that the Punjab government would not give in to any “national or international pressure” in the trial of US consulate employee Raymond Davis, who killed three people on Thursday. He said the investigation would conducted on merit.
Addressing a press conference on Friday at the Director General Public relations (DGPR), the law minister said there “is no pressure on the Punjab government. We will not accept any pressure in this

Pakistan-Iran border opens for local trade

QUETTA – Iranian authorities opened the mutual trade gate Zero-Point situated at Pakistan-Iran border for trade on Wednesday after about six months. After a suicide attack on a mosque in Zahidan city that left dozens injured and killed, Iranian authorities closed the trade gate, Zero-Point, for all types of trades on July 15, 2010 that caused great problems for the people living on both sides of the border by suspending the supply of eatable items.
The closure not only affected

Shahbaz Sharif wants local agriculture resources tapped

LAHORE – Indigenous resources need to be harnessed to achieve economic prosperity, Punjab Chief Minister Muhammad Shahbaz Sharif said while introducing the Star Farm Model at the inaugural session of Star Farm Initiative Suppliers Conference 2011 at chief minister’s Secretariat on Monday.
He said that development of agriculture, livestock and dairy farming sectors are essential to achieve economic stability and to decrease dependency, adding that the introduction of Star Farm

LCCA scrutiny causes panic among local clubs

LAHORE – The Pakistan Cricket Board has directed the Lahore City Cricket Association to hold scrutiny of club and disband dysfunctional clubs. There is also a general feeling among the club players that the directives have been issued to reduce the number of clubs from 134 to 80 because this would benefit certain officials.
Some officials of local clubs believe that if the scrutiny is done on merit, some LCCA members would lose their authority because they are running bogus

`Govt sets out to break Japanese monopoly in local auto sector

ISLAMABAD: In a major policy decision, the government has decided to give tariff concessions to new automobile players to break the monopoly of the Japanese car cartel in the country. According to official sources, the decision was made after a detailed analysis of the local automobile sector by the Ministry of Industries and Production.
They recommended tariff incentives to attract new players in the local car-manufacturing sector. Since the Japanese car assemblers failed to

LHC dismisses MPs’ petitions against local commissions

LAHORE: A full bench of the Lahore High Court (LHC), headed by Chief Justice Ijaz Ahmad Chaudhry, dismissed on Friday scores of petitions filed by 12 parliamentarians, challenging the authority and legality of the local commissions appointed by LHC’s election tribunals to record statements of parties.
In its short order, the full bench held that the local commissions were constituted to assist the election tribunals and the Election Commission in the process of recording

Korean Rail offers to run local trains, provide engines

LAHORE: In a bid to bail out Pakistan Railways (PR) from prevailing engine shortage crisis, Korean Railways (Korail) has offered PR authorities cooperation in the field of locomotives.
The general manager (Operations) PR disclosed this during a media briefing about the outcomes of a meeting with a nine-member delegation of Korean Railway (Korail) here at railway Headquarters on Monday. Ashfaq Ahmad Khatak told the media persons that Korean railways was ready to help out PR in the

Government’s bids to regulate charges at local ports hit snags

KARACHI: The government’s belated efforts to devise an effective legal mechanism to regulate the shipping lines, port and terminal operators, ship agents, freight forwarders and other port users have hit a snag.
It is inexplicable that Pakistan, a country consisting of three seaports and at least 11-vessel shipping fleet, has been deprived of specific laws to regulate the logistic service providers at local ports for one and half decade.
The traders’ agitation at

2 local films too few to revive cinema this Eid

LAHORE: Cinema lovers across the city have been left disappointed with the country’s film industry as only two Punjabi films will be up for showing on the occasion of Eidul Azha.
Movie aficionados criticised local film directors and producers for falsely claiming that Lollywood had seen a revival when but they (producers) had yet again failed to provide cinematic entertainment for people. Many people openly expressed their disappointment and stated that they would instead prefer

Local govt polls delayed for another 180 days

The Punjab Assembly (PA) on Thursday passed the Punjab Local Government (Amendment) Bill 2010 enabling the Punjab government to delay the local government elections for another 180 days.
The amendments to the bill, which were moved by the opposition, could not be passed but the treasury benches succeeded in passing the bill. Opposition Member of Provincial Assembly (MPA) Seemal Kamran staged a walkout from the house to express solidarity with the LG

Salmantinos hail local hero Del Bosque

Vicente del Bosque has been given a welcome more befitting a rock star than a soccer
coach in his native Salamanca this week, where his World Cup-winning Spain team play Lithuania in a Euro 2012 qualifier.
Thousands of cheering and screaming Salmantinos, as locals are known, packed the modest Helmantico stadium on Thursday to hail the mild-mannered 59-year-old and watch their heroes such as captain Iker Casillas train for Friday’s Group I match.
Hundreds more were