Page 1

International Karachi, Sunday, February 13, 2011, Rabi-ul-Awwal 9, Price Rs12 Pages 8

Shazia Marri urges to step up relief efforts

US postpones high-level meeting with Pakistan Malik says no diplomat can carry arms Pak proposes steps for UN reformation

See Page 8 See Page 8

See on Page 2

BB case: Ex-president told to appear on Feb 19

Economic Indicators Forex Reserves (29-Jan-11) Inflation CPI% (Jul 10-Jan 11) Exports (Jul 10-Dec 10) Imports (Jul 10-Dec 10) Trade Balance (Jul 10-Dec 10) Current A/C (Jul 10- Dec 10) Remittances (Jul 10 - Jan 11) Foreign Invest (Jul 10-Dec 10) Revenue (Jul 10 Dec 10) Foreign Debt (Sep 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) LSM Growth (Nov 10)

GDP Growth FY10E Per Capita Income FY10 Population

$17.31bn 14.55% $13.23bn $22.55bn $(9.32)bn $26mn $6.12bn $1.05bn Rs 765bn $58.41bn Rs 5497.4bn $323.6mn -4.69% 4.10% $1,051 175.15mn

Court orders to arrest Musharraf APML spokesman says legalities ignored in issuing warrant

Portfolio Investment SCRA(U.S $ in million)

197.27 -3.48 0.37 3093

Yearly(Jul, 2010 up to 11-Feb-2011) Monthly(Feb, 2010 up to-11-Feb-2011) Daily (11-Feb-2011) Total Portfolio Invest (5 Jan-2011)

NCCPL (U.S $ in million)

FIPI (11-Feb-2011) Local Companies (11-Feb-2011) Banks / DFI (11-Feb-2011) Mutual Funds (11-Feb-2011) NBFC (11-Feb-2011) Local Investors (11-Feb-2011) Other Organization (11-Feb-2011)

-1.08 -1.16 -2.74 1.04 0.80 1.90 1.24

Global Indices Index

Close

Change

KSE 100

11,943.34

244.13

Nikkei 225

10,605.65

12.18

Hang Seng

22,828.92

120.30

Sensex 30

17,728.61

265.57

SSE COMP.

2,827.33

9.17

FTSE 100

6,062.90

42.89

Dow Jones

12,273.26

43.97

GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)

$.Price PKR/Shares 2.60 110.32 17.48 148.33 2.00 42.43 1.70 36.06 10.92 37.05

Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)

09-Feb-2011 09-Feb-2011 09-Feb-2011 29-Nov-2010 12-Feb-2011 12-Feb-2011 12-Feb-2011 12-Feb-2011 12-Feb-2011 12-Feb-2011 12-Feb-2011 12-Feb-2011 12-Feb-2011 12-Feb-2011 12-Feb-2011

13.53% 13.69% 13.86% 14.00% 13.35% 13.62% 13.77% 14.14% 14.26% 14.21% 14.24% 14.26% 14.61% 14.78% 14.97%

Commodities Crude Oil (brent)$/bbl 100.94 Crude Oil (WTI)$/bbl 85.58 Cotton $/lb 189.97 Gold $/ozs 1,360.40 Silver $/ozs 30.00 Malaysian Palm $ 1,299 GOLD (NCEL) PKR 37,488 KHI Cotton 40Kg PKR 12,325

Open Mkt Currency Rates Symbols

Buy (Rs)

Australian $ 84.80 Canadian $ 85.25 Danish Krone 15.48 Euro 115.23 Hong Kong $ 10.89 Japanese Yen 1.006 Saudi Riyal 22.65 Singapore $ 66.26 Swedish Korona 13.08 Swiss Franc 87.58 U.A.E Dirham 23.14 UK Pound 136.29 US $ 84.86

Sell (Rs)

85.03 85.44 15.49 115.50 10.92 1.031 22.68 66.42 13.16 87.79 23.17 136.59 85.04

Inter-Bank Currency Rates Symbols

Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $

Buying TT Clean

Selling TT & OD

84.92 85.61 15.40 114.75 10.86 1.017 22.58 66.02 13.06 87.04 23.06 135.65 84.77

85.11 85.80 15.43 115.01 10.89 1.019 22.64 66.17 13.09 87.25 23.11 135.95 84.96

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

15°C 29°C 22°C 21°C 8°C 16°C

MIN

6°C 14°C 8°C 10°C 4°C 8°C

Subscribe now Tel: 92-21-5311893-6 Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com

www.thefinancialdaily.com

RAHIM YAR KHAN: Prime Minister Syed Yousuf Raza Gilani inaugurating sui gas project for Kot Samaba.-APP

Reconciliation, only way: Gilani RAHIM YAR KHAN: Prime Minister Syed Yousuf Raza Gilani on Saturday said that the politics of reconciliation should not be thought as a weakness. During his address in Rahim Yar Khan, PM Gilani said that Punjab Chief Minister has authority to summon rangers in the province. He also said that Punjab CM should take steps to curb terrorism, extremism and the incidents of kidnapping for ransom in the province. No country can move forward without maintain peace and law and order, he added. Prime Minister asked the Punjab government for necessary measures to check growing incidents of kidnapping for ransom, and offered to deploy Rangers for assistance. Gilani, who is here on a day-long

visit to perform the groundbreaking of several development projects for southern Punjab, in his address at a public gathering, pointed to the growing complaints of increasing incidents of lawlessness, extremism and terrorism and vowed to eradicate them. He said if the Punjab government desired, the federal government could deploy Rangers for its assistance to clear the area of miscreants. He said the government would not allow anyone to create law and order situation. He said all political parties were unanimous on standing against the challenge of terrorism and extremism. He said all state institutions were strong and were working for further strengthening of the country. See # 9 Page 7

Delhi says Isb dodges issues NEW YORK: India's move to resume talks with Pakistan on all outstanding issues was a "conscious decision",

here on Thursday on a two-day visit, said. Krishna, who is here on his first visit to the United Nations after India

Wants deadlock melted, says Pak ISLAMABAD: Pakistan Foreign Secretary Salman Bashir Saturday said Pakistan wants a thaw in deadlock between Pakistan and India and that it is the wish of both the nations to have peace and stability in the region, media reported. See # 14 Page 7 external affairs minister S M Krishna said, adding it was "necessary" for both sides to also discuss Afghanistan. "It is a conscious decision that was made," Krishna, who arrived

became a non-permanent member for a two-year term last month, said: "We will have to sort out all the outstanding issues between our two countries." See # 11 Page 7

9 terrorists killed in Swat SWAT: Security forces killed nine terrorists during the operation against terrorists in Matta and surrounding areas of Swat and seized heavy weapons on Saturday morning. According to media reports, on a tip off forces were going to the Brosan area for recovering the weapons which were hidden by terrorist under the mud. Meanwhile, terrorist attacked at security forces and tried to snatch the weapons from security forces. In retaliation, forces killed both terrorists. Besides, on the secret news security forces See # 10 Page 7

Davis Case Margin eligible USA must securities OKed end bullying KARACHI: Karachi Stock Exchange (KSE) has approved a revised list of 51 margin eligible securities acceptable by the Exchange and based on eligibility criteria of SECP for all markets. According to KSE, the Security and Exchange Commission of Pakistan (SECP) has accorded approval to this revised list, effective from March 14, 2011 as per regulations governing risk management of the exchange. KSE has advised members to replace their securities deposited with the Exchange which are not included in revised list before March 14,

2011. These are ABL, AHC, AHL, ACPL, AICL, ASBL, Amtex Ltd, ANL, APL, ATRL, BAFL, BAHL, BOP, BYCO, CPL, DGKhan, ECCL, EPL, FABL, FCCL, FFBL, FFC, GGL, HBL, HUBCO, ICI, JSCL, KAPCO, Lucky Cement, MCB, MTL, NBP, NCL, NML, NPL, NRL, NTL, OGDC, PEL, PRIL, POL, PPL, PSO, PTCL, SNGPL, SPL, SSGC, Thal, TCL, TRG and UBL. KSE has also issued the list of 16 banks whose bank's guarantees will be acceptable by the Exchange. See # 12 Page 7

Pak: MQM KARACHI: Chief Muttahida Qaumi Movement (MQM) Altaf Hussain said that America should stop threatening, dominating and pressurising Pakistan in Raymond Davis case. In a telephonic address at MQM headquarter 'Nine Zero' Altaf Hussain said that US should stop threatening Pakistan in Raymond case and wait for court decision because the case is subjudice in court. He said that first US should release Dr Aafia then we would appeal to the victim family to forgive Raymond. See # 13 Page 7

ISLAMABAD/LONDON: Anti-terror court Saturday issued an arrest warrant for exiled former president Pervez Musharraf in connection with the 2007 assassination of Benazir Bhutto, officially implicating him for first time in the death of the former prime minister and rival, Benazir. Bhutto, who was an opponent of Musharraf's rule, was killed in a gun and suicide bomb attack after an election rally in the city of Rawalpindi on Dec 27, 2007, weeks after she returned to Pakistan following years in self-imposed exile. "The court has issued an arrest warrant and asked that he (Musharraf) should be produced before the court during the next hearing on February 19," said Musharraf spokesman Mohammad Ali Saif, adding that Musharraf is accused of not providing adequate security for Bhutto. "There is a frivolous allegation, a baseless allegation that he was involved in the assassination of Benazir Bhutto." Saif said Musharraf would cooperate with the judiciary if asked to

recount his version of events, but did not say if he would appear in court. Prosecutor Chaudhry Zulfiqar Ali said the warrant had been issued on the recommendations of a joint investigation team which "had attached evidence" against Musharraf and declared him an absconder. He did not elaborate. Shafqat Mahmood, a political analyst, described the arrest warrant as a "symbolic gesture" that would have no impact on Pakistani politics. "Nothing is happening. Musharraf actually doesn't mean much in Pakistani politics. We are making too much of him," he said. A UN report said no one believed the 15-year-old suicide bomber who killed Bhutto acted alone, and the failure to examine her death effectively appeared to be deliberate, but the commission did not say who it believed was guilty. The warrant for Musharraf's arrest follows a similar court order in December for the arrest of two senior police officers on allegations they failed to provide adequate security for

Government will contact Interpol, says minister info RAWALPINDI: Federal Information Minister Firdaus Ashiq Awan said that the government would contact to Interpol for return of former President Pervez Musharraf in the country because he is nominated as accused in Benazir Bhutto assassination case. Talking to media after offering Dua at martyred site of Benazir Bhutto here Saturday Federal Information Minister Firdaus Ashiq Awan said that court directions would be followed and all possible cooperation See # 7 Page 7 Bhutto before her assassination. Lawyers say if he were to return to Pakistan Musharraf could face a See # 8 Page 7


2

Sunday, February 13, 2011

Flood affectees

Shazia calls for intensifying relief efforts Staff Reporter

LAHORE: Students posing for a photograph during tha annual sports day at Samnabad Girls College. -Online

Bid to evade import tax foiled by FBR ISLAMABAD: The Directorate General Intelligence & Investigation, FBR have foiled an attempt to evade duty/taxes worth millions of rupees on imported goods, says a press release issued here Saturday. It said the Directorate General staff conducted a raid and seized 15 consignments of imported goods worth about Rs 25 million cleared by Customs authorities without payment of actual duty and taxes to the tune of Rs.12 million. FIRs have been lodged against the

Valentine Day extravaganza Staff Reporter KARACHI: La-Perfumerie, leading chain of outlets in Karachi for renowned international fragrances, celebrates Valentine's Day this year with a grand celebration at Forum Mall, Clifton from Feb 11-1 5. During this weekend fiesta, shoppers will get a chance to not only try out La Perfumerie's extensive range of products such as Azzaro, Paco Rabanne, Carolina Herrera, Lalique, but they will also be able to purchase personalized Valentine's gift packages for their loved ones packaged with flowers from Zerritta Flowers, chocolates from Butlers Chocolate Cafe and a whole range of other gifts. On February 12, a gala night was hosted for the elite of Karachi - for which exNaib Nazima Nasreen Jalil was the Chief Guest. Also present at the event, were the glitterati of the cosmopolitan including TV celebrity Adnan Siddiqi, designer Sonya Battla, and CEO Zerritta Flowers, Saira Saigol.

importers, clearing agents and the customs officials involved in this attempt of fraud. According to details, the chairman FBR directed the Directorate General Intelligence & Investigation - FBR to enhance surveillance of all importing stations. On Jan26 the Directorate General Intelligence & Investigation-FBR received information that some unscrupulous importers were involved in import and clearance of miscellaneous dutiable items from BOML (Off-Dock Terminal)

through gross mis declaration / non declaration of description, PCT, quantity and value to evade huge amount of custom duty and other taxes. Accordingly, the Directorate General Intelligence & Investigation - FBR mounted surveillance and detained 15 consignments of miscellaneous items which were ready for delivery after having been cleared by Model Customs Collectorate (MCC), Appraisement, Karachi. These consignments were imported by 13 commercial importers. -Online

Nadia visits schools in Gadap KARACHI: Sindh Minister for Human Rights, Ms.Nadia Gabol, paid a surprise visit to four schools in the Gadap Town here and expressed concern at the condition of the buildings, absence of teachers and lack of facilities etc. An official of the Department said here on Saturday that she recommended action against the

staff found negligent of duty. The Minister also asked the elected representatives of the area to help improve the condition of the educational institutions in their localities. She stressed that the shortage of teachers should also be removed so as to ensure a smooth process of impartation of knowledge -APP

‘PR to follow public-private partnership’ LAHORE: Pakistan Railways General Manager Operations Muhammad Ashfaq Khatak on Saturday said that the railways would be made selfreliant by following publicprivate partnership policy. In an interview with APP here, he said the PR administration would operate passenger and freight trains in line with the policy, adding it was also offering the private sector to operate trains according to the policy of open access. Elaborating the open access policy, he said the PR would provide tracks to the private sector on appropriate charges and all other equipment including coaches and staff to run trains. He said the PR administration had also offered the private sector to repair locomotives and the railways would ensure reduction in freight to companies which repaired locomotives. The GM said the railway would invite the private sector to participate in commercial activities like dry ports and provision of facilities on railway stations. -APP

ICAP seminar on Risk Management Staff Reporter

KARACHI: Junaid Jamshed, Inzemam -ul-Haq and others cutting a cake at the Meat One North Nazimabad branch opening. Staff Photo

KARACHI: The Southern Regional Committee of the Institute of Chartered Accountants of Pakistan is organizing a seminar on Risk Management and Basel II - Deriving Value beyond Compliance will be held on Feb. 24 at 6:45 pm at ICAP House, Clifton. Syed Faraz Anwer, Partner, A.F. Ferguson & Co will be the speaker at the seminar. Risk Management and Basel II have been topics of extensive discussion in banking sector - both locally and globally. Experience indicates that Basel II is perceived by most as a compliance-driven exercise. However, the principles prescribed under Basel II are aimed towards having better business and operational management tools besides having regulatory implications.

Summit Bank agreement KARACHI: Summit Bank Limited (Formerly Arif Habib Bank Limited) has entered into an agreement with M/s ABB Recreations (Pvt.) Limited; owners and operators of The Royal Rodale Club to offer its club membership to potential customers through a convenient and affordable financing plan. The most exciting feature of this financing plan is "0% Mark-up" which will enable potential customers to get the club membership through staggered membership fee payment without any additional cost. NNI

KARACHI: Sindh Minister for Electric Power Shazia Marri has stressed upon all concerned Government functionaries to collaborate efforts and boost up rehabilitation work of flood affectees by identifying lands for construction of houses for which various brotherly and friendly countries and donor agencies had assured for financial assistance. This she said in a review meeting held under directives of President Asif Ali Zardari, for the building of houses for people affected by recent devastating floods, here at the committee room of Planning and Development Department Sindh on Saturday. A statement said that the Minister for Housing Agha Taimoor, Advisor to Sindh Chief Minister for P & D, Kaiser Bengali, Special Assistant Zia ul Islam, Additional Chief Secretary P & D Ishaq Lashari, Secretary Housing Shahabuddin Channa, C h a i r m a n

People'sHousing Cell, Fasihuddin Khan and others attended the meeting. The meeting was informed that as per available data 173,000 houses were destroyed in these catastrophic floods, whereas the DCOs of these flood affected districts had reported that construction work was going-on in the affected districts by the Government and various NGOs and provided data for the same. However, the participants of the meeting were of the view that the data provided by the DCOs needed to be verified to get an accurate picture of what was achieved so far. Shazia Marri and Kaiser Bengali informed the participants That brotherly country Turkey had offered the construction of 2,000 houses while another brother Islamic country Iran had promised Rs.100 million for the construction of houses for flood affected people but the land had yet not been identified by the DCOs. They further said that these satellite townships

will surely change the living culture of Sindh under which people in these downtrodden areas will get basic facilities of life in a modern way, including better education and health services but it was observed that the DCOs had to prioritize effort for identification of land required for construction of houses. The participants of the meeting decided to communicate to the officers at District level to speed-up efforts for identifying required land on urgent basis for the construction of houses for flood affected people and ensure that it was done on war footing. Bengali informed that there was not enough government land available in the light of which the meeting further decided to acquire /purchase land with ideal locations from private owners if there was no government land available for construction of houses for people who were affected by the recent floods and the process be carried out in the most transparent manner.

KARACHI: Consul- General of Iran, Abbas Aliabdollahi held a reception to celebrate 32nd Anniversary Islamic Revolution of Iran. In the group photo he is seen cutting the cake along with Speaker Sindh Assembly Nisar Ahmed Khuhro, Dr. Farooq Sattar, Babar Khan Ghuri, Muzafar Shujra,and diplomats from other countries, politiciansand business community. - Staff Photo

Jamali for promoting science,technology sectors ISLAMABAD: Federal Minister for Science and Technology Mir Changez Khan Jamali has stressed the need for making coordinated efforts to achieve the set targets in the field of science and technology. He said it is time for behavioural change to achieve the best possible results. He said, "We have to bring change and it is only possible through organized, integrated and systematic

approach." He said this in a briefing on the first day of joining as Minister for Science and Technology, here Saturday. Federal Secretary of the Ministry of Science and Technology Irfan Nadeem, heads of all Wings and senior officers of the Ministry were present on this occasion. Secretary, Irfan Nadeem gave a detailed briefing to the Minister about the functions of the Ministry and var-

ious organizations working under the Ministry. He also apprised the Minister of their contributions in the national development. Secretary also shared the future vision of the ministry with the Minister and pledged for fulfilling their duties with dedication by utilizing their expertise in a scientific manner. The Minister took keen interest in the working of the Ministry and its organizations. -APP

Bank Holiday on Feb 16 KARACHI: The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed on Feb 16 being Public Holiday declared by the Government of Pakistan on the occasion of Eid Miladun-Nabi (SAW).-Online

Kundi is acting Speaker NA ISLAMABAD: Faisal Karim Kundi, Deputy Speaker National Assembly is acting as Speaker National Assembly with effect from Feb. 11, 2011. He will remain Acting Speaker till the return of Dr. Fehmida Mirza, Speaker National Assembly from her visit abroad. Dr. Fehmida Mirza has proceeded to Colombo, Sri Lanka to attend the 3rd C o m m o n w e a l t h P a r l i a m e n t a r y Association's Asian Regional Conference being held from February 11-16.- NNI

RCCI welcomes new cabinet R AWA L P I N D I : Rawalpindi Chamber of Commerce and Industry has (RCCI) welcomed the formation of new cabinet hoping that it will bring positive revolution in the development of the nation. It would help to curtail the expenses of the government also and help generate the national kitty. This was stated by Mian Muhammad Atique Sheikh, Acting President RCCI on Saturday. Addressing the traders community, Acting President said that this is a right decision of the government to save the money which was being wasted on extra expenses, this decision will bring positive revolution and prosperity as well as stable the national economy , he added. He said that government should focus to promote the Industry as it would help to generate the the employment opportunities. He hoped that new cabinet will focus on the revival of industry of the country. He suggested that traders should be consulted for making any decision regarding the business activities and for the promotion of the industry, he maintained. Atique assured all kind of support to the government to uplift the industry and said business community will stand with the new cabinet in decision making in the best interest of the nation.-APP

TV PROGRAMMES KARACHI: Minister IT Sindh Mohammad Raza Haroon along with Consul General of Sri Lanka D W Jinadasa, Consul-General, Muzafar Hussian Shujra , S. Khalid Tawab, Ikhtiar Baig and others cutting a cake to celebrate the 63nd national day of Sri Lanka. -Staff Photo

KARACHI: A group photo taken at the National day of New Zealand shows New Zealand Ambassador Brian Sanders ,Moin Fudda, Honorary Consul General ,Begum Nasreen Jalil and others. Staff photo

SUNDAY Time Programmes 7:00 News 8:00 News 9:05 I Samaa (Rpt) 9:30 Taxi News (Rpt) 10:10 The Reema Show (Rpt) 11:10 Awam Ki Awaz (Rpt) 12:00 News 13:10 Faisla Aap Ka (Rpt) 14:10 Tafteesh (Rpt) 15:00 News 16:00 News 17:00 News 18:00 News 19:30 i Samaa 20:05 The Reema Show 21:00 News 22:03 Faisla Aap Ka 23:05 Crime Week


3

Sunday, February 13, 2011

Cars Prices Updated on 13 February, 2011

ALI ZHORAIZ JAFFRI

DAIHATSU CUORE CX

729,000

CUORE CX CNG

779,000

CUORE CX A/T

759,000

CUORE ECOMATIC

819,000

TOYOTA Hilux 4x2 Standard

1,459,000

Hilux 4x2 up Spec

1,499,000

Hilux 4x2 Grand Cabin

2,004,000

COROLLA 1.3L XLi

1,354,000

COROLLA 1.3L GLi

1,479,000

COROLLA 2.0D

1,439,000

COROLLA 2.0D SALOON

1,769,000

COROLLA 2.0D SALOON SR

1,859,000

1.8L ALTIS MT

1,740,000

1.8L ALTIS MT SR

1,830,000

1.8L ALTIS AT

1,830,000

1.8L ALTIS AT SR

1,920,000

CAMRY 2400cc M/T

7,799,000

CAMRY 2400cc A/T

7,999,000

Google Earth's 10 unusual discoveries G

oogle Earth's mapping tool has discovered and cataloged some of the most rare and unusual places around the globe. From mysterious ship wrecks to airplane graveyard to a Red lake, the mapping tool has unearthed all and many more. Some time back, we carried 12 Must-see locations on Google Earth. Now we bring to you some of the interesting and strange sights viewed from Google Earth. Palm tree Island

HONDA CITY Manual Transmission

1,315,000

CITY Automatic Transmission

1,446,000

CIVIC i-VTEC Manual Transmission1,633,000 CIVIC i-VTEC Pros Transmission1,784,000 CIVIC VTi Oriel Manual

1,845,000

CIVIC VTi Oriel Prosmatec

1,920,000

Accord 2.4 i-VTEC

5,949,000

CR-V 2.4 Liter

5,549,000

HYUNDAI SANTRO CLUB

739,000

SANTRO CLUB GV

779,000

SANTRO EXEC

804,000

SANTRO EXEC GV

859,000

Without Deck & Sidewalls

879,000

Without Sidewalls (Flat Bed)

889,000

With Deck & Sidewalls

899,000

Wondering what a huge palm tree is doing in the middle of the sea? This piece is a gigantic size palm tree-shaped island build in Dubai. According to reports, the island consists of a trunk, a crown with 17 fronds, and a surrounding crescent island that forms an 11 kilometre long breakwater. The island's total area is larger than 800 football pitches. The crown is connected to the mainland by a 300-metre bridge and the crescent is connected to the top of the palm by a subsea tunnel. Ship in the city

CHEVROLET SPARK LS (Manual) SPARK LS (Automatic)

815,000 890,000

OPTRA SE

1,479,000

OPTRA LS M/T

1,549,000

OPTRA LS A/T

1,629,000

OPTRA 1.8 CDX-MT

1,669,000

OPTRA 1.8 CDX-AT

1,759,000

AVEO LT - M/T

1,369,000

AVEO LT - A/T

1,469,000

COLORADO - MT

3,479,000

You think this huge cruise liner crashed in middle of a city? Not really! This is actually a big shopping mall built in the shape of a cruise ship. Called the Whampoa Boat, the mall has sprawling restaurants, shops and a hotel. Airplane graveyard

2,000 bottles.

here.

Companies plan to combine assets and develop innovative mobile products on an unprecedented scale

Meet your bunny Here's a perfect sight for all bunny lovers. The giant-size pink bunny lying has been built by a group of artists called Gelatin. It took over five years to build this 200-ft toy and is set to stay there until 2025. Made of soft, waterproof material and stuffed with straw, the bunny is placed in a rural spot called Artesina near Cuneo

Shark in the forest Ideally you find them in deep oceans but this one has a home in forest in Australia. This strange sight seen from Google Earth is actually a forest art. According to reports, the shark is estimated to be about 700-ft long.

Microsoft HQ Wondering what these 'X' mean here? This is Microsoft's headquarter building in Redmond, Washington build in the letter X shape. Looks like the software maker's obsession with the Direct X as the shape resembles the logo of the DirectX.

Lips on hill Wondering what these mammoth size lips are? Located in Gharb, Darfur, in Sudan, it is actually a 0.5 mile long hill.

588,000

CHERY QQ 0.8L COMFORTABLE 628,000

SUZUKI RAVI VX

473,000

RAVI VX CNG

524,000

BOLAN VX

532,000

BOLAN VX CNG

584,000

BOLAN VXR

592,000

BOLAN VXR CNG

645,000

CARGO VAN

507,000

MEHRAN VX

453,000

MEHRAN VXR

505,000

MEHRAN VX CNG

499,000

MEHRAN VXR CNG

549,000

ALTO VXR

656,000

ALTO VXR CNG

705,000

CULTUS VXRi

850,000

CULTUS VXRi CNG

891,000

SWIFT

1,058,000

LIANA 1.3L RXI MT

1,129,000

LIANA1.3L RXI MT CNG

1,199,000

APV 1.5 Petrol

1,775,000

APV 1.5 CNG

1,850,000

JIMMY JLSX MT

1,720,000

JIMMY JLDX MT

1,870,000

NOTE: Always visit your local outlet for the exact Cars prices.

One of the most popular satellite pictures online, it is of the place where from B-52s to stealth bombers are broken down. The Davis-Monthan Air Force Base is situated outside Tuscon, Arizona. According to reports more than 4,000 military aircrafts are dismantled

Guitar-shaped mansion Shaped like a guitar, this is a mansion loacted near Birmingham, AL, USA. But in case you think it was the idea of some guitarist, you got it wrong. It was owned by former COO Larry House of a scandal-hit healthcare company. In 2003 he sold the property for mere $4 million in contrast to its estimated building cost of $26 million. According to a report, built on 27 acres of land, the property has 21 bedrooms and 22 bathrooms; a 13-car garage; a 25seat home theatre and a wine cellar for

Heart-shape Island This seems like a perfect place for a romantic date, a huge heart-shaped island. Called Galesnjak, or Lovers' Island, it is located in Zadarski Kanal between Zadar and the Island of Pasman. The 130,000 square yards island is just off the coast of Croatia, which is among the most popular tourism destinations in the world.

HP's Risky Triple Play Y

esterday, HP announced its first three products using WebOS, the operating system for mobile devices that was its main prize for acquiring Palm in July of last year. HP is already known for printers, PCs, and laptops, but the new products—a tablet, an updated smart phone, and a new super-small smart phone—highlighted a new strategy for the

company. The Touchpad tablet, Pre 3 smart phone, and Veer mini smart phone, show WebOS in three different sizes. By announcing them together, HP hopes to emphasize both the flexibility of the operating system and how well WebOS can work for a user who owns multiple devices running it. It also hopes to spur developers to cre-

KARACHI: Nokia and Microsoft today announced plans to form a broad strategic partnership that would use their complementary strengths and expertise to create a new global mobile ecosystem. Nokia and Microsoft intend to jointly create market-leading mobile products and services designed to offer consumers, operators and developers unrivalled choice and opportunity. As each company would focus on its core competencies, the partnership would create the opportunity for rapid time to market execution. Additionally, Nokia and Microsoft plan to work together to integrate key assets and create completely new service offerings, while extending established products and services to new markets. Under the proposed partnership: n Nokia would adopt Windows Phone as its principal smartphone strategy, innovating on top of the platform in areas such as imaging, where Nokia is a market leader. n Nokia would help drive the future of Windows Phone. Nokia would contribute its expertise on hardware design, language support, and help bring Windows Phone to a larger range of price points, market segments and geographies. n Nokia and Microsoft would closely collaborate on joint marketing initiatives and a shared development roadmap

to align on the future evolution of mobile products. n Bing would power Nokia's search services across Nokia devices and services, giving customers access to Bing's next generation search capabilities. Microsoft adCenter would provide search advertising services on Nokia's line of devices and services. n Nokia Maps would be a core part of Microsoft's mapping services. For example, Maps would be integrated with Microsoft's Bing search engine and adCenter advertising platform to form a unique local search and advertising experience n Nokia's extensive operator billing agreements would make it easier for consumers to purchase Nokia Windows Phone services in countries where credit-card use is low. n Microsoft development tools would be used to create applications to run on Nokia Windows Phones, allowing developers to easily leverage the ecosystem's global reach. n Nokia's content and application store would be integrated with Microsoft Marketplace for a more compelling consumer experience. "Today, developers, operators and consumers want compelling mobile products, which include not only the device, but the software, services, applications and customer support that make a great experience," Stephen Elop, Nokia President and CEO, said at a joint news conference in London. "Nokia and Microsoft will combine our strengths to deliver an ecosystem with unrivalled global reach and scale. It's now a three-horse race."

Apple planning cheaper, smaller iPhone

CHERY CHERY QQ 0.8L BASIC

Nokia and Microsof in phone alliance

ate apps for the platform. However, this may still not be enough to capture a market that's dominated by other big companies such as Apple and Google. Palm's WebOS operating system was the ailing company's last-ditch effort to reclaim the market it once dominated with its popular PDA. The WebOS operating system uses Web

technologies familiar to developers, such as HTML and JavaScript, instead of Objective C, the specialized language used to program apps for Apple's iPhone. The Palm Pre, which was the first device to feature the operating system, was praised for its design when released in June 2009, but it was a flop in the market, leading to HP's acquisition of Palm.

A

pple Inc is working on new versions of the iPhone that are aimed at slowing the advance of competing handsets based on Google Inc's Android software, according to people who have been briefed on the plans. One version would be cheaper and smaller than the most recent iPhone, said a person who has seen a prototype and asked not to be identified because the plans haven't been made public. Apple also is developing technology that makes it easier to use the iPhone on multiple wireless networks, two people said. Chief Executive Officer Steve Jobs, who remains involved in strategic decisions while on med-

ical leave, aims to narrow the price gap that has made phones running Android more popular than iPhones. Google's share of the global smartphone market more than tripled to 32.9 per cent in the fourth quarter, eclipsing Apple's 16 per cent, according to Canalys. Apple has considered selling the new iPhone for about $200, without obligating users to sign a twoyear service contract, said the person who has seen it. Android phones sell for a range of prices at AT&T Inc, Verizon Wireless and other carriers, and typically come with agreements that include a fee for broken contracts.

Latest Gadgets Acer Makes 3D Computing Affordable

World Wide Web for robots You know how the Internet has become a place where billions of people are coming together and learning all sorts of things they never heard of before? Now, imagine that system of interconnected computers, but for Robots. This is the basic concept from RoboEarth, which its creators are saying is a “Wikipedia that’s just for robots”.

Dell Launches Latitude XT3 Convertible Need the functionality of a laptop but love the ergonomics and portability of atablet? Dell’s new Latitude XT3 convertible may be just what the doctor ordered. The massive 13 inch screen actually rotates and folds back on itself converting this fairly powerful laptop into a tablet that outspecs most of its competition.

The New Acer GN245HQ monitors may just look like another computer monitor trying desperately to cash in on the 3D craze that seems to be sweeping the nation, but it’s not. It’s something very different.

Mophie does juice pack air for Verizon iPhone 4 Whenever you need your handset to deliver that extra bit of juice, it seems to falter simply because you spent too much time playing Angry Birds whenever you’re free, hence sapping up all the power reserves required to make that all important business call to clinch that multimillion dollar contract.

MetroPCS Launches the First LTE Phone The Galaxy Indulge is the latest smartphone from Samsung and boasts some pretty impressive but not Earth-shattering spec’s. The 3.5 inch touch screen/QWERTY keyboard phone runs on Android 2.2 and displays things quite beautifully on the TFT LCD.


4 Sunday, February 13, 2011

The Financial Daily International

Water and Power problems of Pakistan

Vol 4, Issue 180

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA

S. Muneer Hussain Rizvi

Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com

Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com

Tarique Khan Javed President, Overseas Pakistani Investors Forum

An exercise T in futility Reformation of federal cabinet has already started; first lot of ministers have taken oath and also allocated portfolios. Some of the key ministries are still without the ministers but likely to be headed by the same faces. Out of 22 ministers who have taken oath only four are new and rest of them have been reshuffled only to create an impression that the present rulers are serious in following good governance and saving tons of money being spent of each minister. All and sundry are of the opinion that Pakistan does not need change of faces but change in the system. They also have the consensus that change of guards will not make any difference and the business will continue as usual. If any politician is serious in winning next election the objective can't be achieved by being part of the cabinet but by distancing from the present ruling regime. Till yesterday RGST was the thorn in PakistanIMF relationship but now Raymond Davis case has started creating cracks in Pakistan-US relationship. If the issue is not resolved as per the wishes of the US administration flow of aid, assistance and fate of remaining tranches of the IMF will be in doldrums. Therefore, all the political parties must set aside their differences and formulate a policy to face the US pressure. We consider it extremely important to remind the rulers and all the coalition partners in government that out of the five-year term, three years have already passed. Since the ruling junta faces no potential threat of toppling of the government the remaining two years will also be event less. The external and internal threats may become even more serious but Mian Nawaz Sharif will continue to play the role of 'friendly opposition'. Many of the critics following unfolding of the events in Egypt did not know who was organizing the demonstrations against Hosni Mubarak. Though, at times it appeared that some one out of a few select would takeover the control. However, the net outcome is that military has taken over the charge with a promise to restore democracy in the country. Since there is no opposition even by Muslim brotherhood the change in regime may be a little smooth. The changing geopolitical conditions in the neighborhood, particularly in Tunis and Egypt and warnings of blowing winds of change in Pakistan must be taken as cue that some thing similar may also happen in Pakistan. The only regret is that all those who enjoy 'street power' and have been arranging 'million marches' have not succeeded in holding demonstrations of similar magnitude. May be because they know even if there is a change of guards they will have no role in the future government.

Disclaimer:

All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.

he issue of Kala Bagh Dam has been reopened by interested quarters despite resolution against it by three provincial assemblies. This is very unfortunate and must be resisted. The timing chosen was around the Super Flood of 2010 to renew the debate. Argument being that huge amount of water was released to the sea and large areas devastated by the flood, and that if Kala Bagh Dam was there water could have been preserved and loss minimized. The other argument is that if 4,500 MV electricity produced by Kala Bagh Dam was available current energy crisis would not be there. In my opinion both the justification is based on bad intention of a particular province and national interest demand finding solution to water and electricity shortages somewhere else. WATER ISSUE: The Water debate in Pakistan is going on for a long time. On one side there are people like Chairman of WAPDA who claim that there is lot of water in Pakistan and there are people who think that there is shortage of water in Pakistan. Those who think there is plenty of water believe that Pakistan can support a population of 450 million, if water is properly used. Those who think that there is overall shortage of water think that, given the large share of water taken away by Punjab, Sindh and Baluchistan are likely to become deserts if more water is held by Punjab by means of Dam like Kala Bagh. They think there is not enough water in the system to be further shared or managed. FACT: The fact is that in total 206 Million Acre Feet (MAF) of water is collected from rain, melting of glaciers and tube wells in Pakistan, on the average every year, based on a 11 years cycle. Out of this only 54 MAF is used rest goes waste and causes water logging and salinity. On year by year basis rain fall varies a lot but on a 11 year cycle it even outs. The massive rains of 2010 vastly improved the total rain water contribution in total water availability of Pakistan and this is the basis of the new debate. Suppose an additional 50 MAF was added in 2010 and let us assume that owning to global warming we may expect such event say every 3 years and thus the average availability of water has increased from 206 MAF to 223 MAF does it fundamentally change the real issue of huge wastage of water in Pakistan? No! 206 or 223 MAF preservation and proper use is the real issue not the quantity available. Kala Bagh Dam which will inundate major part of historic Peshawar valley, the bread basket of KP is no answer to the huge water storage problem of Pakistan. It could do a little. The solution lies in making very large storages in 9 locations spread from Skardu to Khinjhar lake. In order to store 150 to 173 MFA we need very large areas and fortunately for Pakistan such areas are available. I propose building very large storages in following locations: l SKARDU: At this point the largest water reservoir as well substantial power generation Dam can be built. However, as this location is very far from population, this option will be used after the other cheaper options are already used up. l BHASHA: Below Skardu yet very far from population this point has already been chosen as site for very large water reservoir as well power generation Dam. Work has started on the project. l TARBELA and MANGLA: At these points water reservoirs and power generation dams exist. However, their capacity to hold water has reduced substantially with

the accumulation of silt deposits. There is a need for major clean up to restore old water storage capacity. l GUDDU: In front of Guddu barrage lies a vast lake extending up to Zahir Pir on East and Kot Mithan in the west. This 350 square km area is now completely filled and water from Pungnad and Indus disappear at this point and its water reach Guddu Barrage by means of small streams on which bridges are built. It is possible to travel from Zahir Pir to Kot Mithan on a truck over the lake. In March 2007 I travelled on this route of on 35 Km to avoid a otherwise 350 Km journey via the Guddu Barrage in the south. Deposits of centuries have reduced the potential to hold water to nothing. If this lake was say 100 ft deep, the entire 50 MFA or so water of 2010 flood could have been parked at this point. Such huge water body could have changed the ecology and climate of the entire area. It could have made it possible that the entire track from Kashmor to Mithan Kot in the western side could be bought under cultivation. This vast dry and arid area at the foot of Balochistan mountains is flat and potentially very good agriculture land if water could be pumped to from the lake in front of Guddu. I propose that this area be deepened 100 ft using rudimentary manual means whereby the flood effectees are offered daily wages of Rs.500 per day for digging out 100 bag of soil every day. These labourers using just a spade and bags may work for months to end their current poverty and create a major water reservoir for Pakistan. Such schemes have been very successful in China and elsewhere. l SUKKAR: The 40 by 60 KM long water body which gathered in front of Sukkur Barrage in August 2010 could have destroyed Sukkur city and carried away the barrage. I was on the protective wall of Sukkur on 17th August and was scared as the water was just 2 feet below the wall and its break was highly anticipated and entire population was panicking. Somehow the water passed yet we cannot take another chance like this and must act to protect the "life line" of Sindh. I propose that like Guddu this area should also be deepened by 100 ft using the same means as proposed for Guddu. This will create a huge water body with positive impact on climate. This immense water can help us open new agriculture area in the east beyond Punu Aqil. The huge Thar desert can be provided water from this reservoir changing the face of this poor region. The current Nal Canal can then be extended up to Nagar parker thus greening the entire Thar desert. l KOTRI: Indus river from Sukkur to Kotri extending nearly 400 Km is again filled with silt. By end August 2010 when 10 million cusec water was passing Kotri Barrage, there was great anxiety that it may break away, as that level of flow was not experienced in the past. Somehow the disaster was avoided. The 'Katcha' as the River bed is called is being used as agriculture belt thus lots of manmade obstacles have been erected which has reduced the water holding capacity of the river. As the depth of the river is minimal any large flow of water puts heavy pressure on the side protective walls as well as the barrage. If the river bed is deepened 100 ft in the same manner as Guddu very large amount of water can be stored at this point. This last barrier before water rushes to the sea must be used effectively to stop wastage of water reaching sea beyond the required 10 MAF pa. l HAMAL LAKE: Located close to Shahdad Kot this large lake which intakes water from higher grounds of Balochistan and Sindh is also lost its capacity to hold water due to silting. If this lake had depth of 100 ft it could have accommodated a large part of flood water that inundated the area in 2010. This lake can be used to drain out all the excess water from Kashmore till Shahdad Kot on a regular basis. This area is badly affected by water logging and salinity. A deep lake like Hamal can become a source of water for Jahl Magsi and other dry and arid but plain lands between mountains and Shahdad Kot. This can open new agriculture region and alleviate poverty in the area and boost agriculture production.

l MANCHAR LAKE: Located near Sehwan Sharif this is the largest fresh water lake of Indo-Pakistan. It is home to 40,000 fishermen. Water from Kirthar Range mountain and other higher grounds of the area as far as Shahdad Kot get stored here. When Indus is full water from it flows into Manchar from near Sehwan. It is nature's outlet for excessive water of Indus. When the water level in Indus is low water from Manchar flows back to it by a different route. The lake is surrounded by hills from three sides. Thus to increase its water holding capacity it will cost very less. If we only increase the height of the protective wall on one side the capacity will be increased. It is also recommended that its depth is also increased so that water of one full Super Flood could be stored here. Water from this huge water body could be sent down towards Thana Bula Khan and Gadap to convert its plains into agriculture area. l KINJHAR LAKE: Located above Thatta this is last large water storage point of Pakistan. Excessive water from Indus and water from surrounding Hills gathers here. Currently it is a shallow lake with limited storage capacity. During 2010 floods it quickly filled and overflowed. I propose that this lake should also be deepened by 100 feet to create water source for irrigation in dry lands towards Super highway and dry area above Gharo. If Super floods charge this reservoir even once in four years, the current dry land can become good agriculture land improving the prosperity of the Area. Conclusion: Pakistan has plenty of Water and based on it is likely to emerge as a dominant economic power of the World. It is unable to store its water and the excessive water is in fact hampering its agriculture production. We need to store our water and for that natural reservoirs are available which only need to be deepened. The cost would not be much if the work is done manually by flood affectees. This will provide them jobs for next 5 years and lift them out of poverty in an honourable manner. Bill Gates Foundation's help may be requested for this project and it will be forthcoming. ELECTRICITY ISSUE: THAR COAL: Producing 4,500 MW electricity at Kala Bagh is not the answer to the power problem of Pakistan. The answer lies in using the huge coal reserve of Thar discovered in 1994. The reserves are enough to produce 100,000 MW electricity for next 213 years. Politics has largely been responsible for lack of progress on this project. If this is developed justification for Kala Bagh Dam will vanish forever. The manner in which Shenwa, a Chinese company which came in 2005 to produce 6,000 MW electricity out of Thar coal was made to leave the country by 2007, suggests bad intention by NEPRA officials. They fought with the company on a difference of just 3 cents and let them go after they had invested so much in the area has frightened international investors forever. National interest demanded laying out red carpet for such a pioneering Company. It is reported that very large bribe was demanded by powerful people and the Company could not pay and thus left. It is also said that President Musharraf personally tried to persuade the company to come back but they refused. President Zardari has put all his support behind Thar project but progress is reluctant to come by. Thar Coal Authority with CM of Sindh as its Chief has been formed but Federal representation is very strong. Thus its effectiveness since 2009 is not impressive. In Feb 2009 a large Investors Conference was organized by Sindh Government but not a single international investor showed up. Embarrassed, to save face in 2010 a 1000 MW project has been announced by Sindh government with Engro Group on 50-50 equity basis. Indicating very low interest by large energy Cos in the World upto now. Dr. Mubarak Samar Mand was appointed Supervisor of Sindh Coal Project and promised to start producing cheap electricity and gas by 2011 provided gas turbines are given

to him immediately. However his job seems to be ending soon according to some press reports. With all his genius and good intentions the problem is that this very highly capital intensive industry and Government of Pakistan simply does not have the money. Currently all big economic powers derive 60-90% of the energy needs from. Therefore there is no reason why we should not utilize this resource to the full extend to make Pakistan a major economic power of the world. Electricity produced from coal can emerge as the largest export earner for Pakistan if we sell our surplus electricity to India. India is ready to buy up 70,000 MW of electricity from Pakistan. Recently it also offered to buy our coal for use in its coal powered electricity plants in Rajasthan. The cost of Thar coal based electricity is reportedly Rs.5.5 KV if the charges related to infrastructure development is not amortised. This is very low cost compared to the rental power and furnace oil based electricity and this is probably the reason why some vested interests do not want this project to take off. National interest demand that all obstrucles in harnessing Thar coal placed by NEPRA and other agencies of the Federal Government be removed. In fact in the process of down sizing the Federal Government NEPRA should be disbanded to avoid similar episode as happened with Shanwa. Without large energy companies participation this huge natural resource cannot be used. We must accept that we neither have the technology nor the money for such large project. Suggestions: l I suggest that we convert the entire Thar coal area into Pakistan's first Free Economic Zone in which Government will have no role and the entire area would be managed by one Corporate Authority on Chinese model. With such freedom energy companies as well other international companies will flock to the area to take advantage of huge coal reserve, make electricity sell it to India and Pakistan and provide power to other industries that would be established. With cheap energy and manpower in the Zone it will attract huge investment which will help us end unemployment in the country on a short notice. l In the meantime I suggest that immediately we should let Indian Power companies use our Coal in raw form for their electricity plants in Rajasthan. We can start generating cash that will help us prepare the area for large energy companies. Thar Coal Authority should be the sole negotiator of such deal and no Federal agency should interfere. WIND CORRIDOR OF SINDH: The Wind power potential of Wind Corridor between Gharo and Kati Bunder is estimated at 50,000 MW. A small Turkish project of 6 MW is about to get operational and Asian Development Bank is providing finance to increase the capacity to 56.4 MW. Lot of companies have been allocated land in this belt but they are facing difficulty in getting possession of land. This area has become mostly saline due to sea intrusion and thus no more very suitable for agriculture. Suggestion: l It makes economic sense that against a fair compensation the entire area is taken away from current owners and converted into Second Free Economic Zone on Chinese model. With 50,000 MW power this area can become the second big conomic engine of Pakistan to lead us out of current economic difficulties. Conclusion: Sindh has the capacity to produce 150,000 MW electricity from coal and wind for 213 years and 50,000 MW forever. Thus the lower part of Sindh from Gharo to Indian border has the potential to become one of the largest industrial hub of the world. Compared to these figures Kala Bagh's promised 4,500 MW is insignificant and must be ignored and all attention should be focused on Southern Sindh. To see results in our life time I earnestly recommend formation of two Free Economic Zones as the vehicles for harnessing the huge energy potential of the area and creating jobs to see end of economic misery in the country.


5

Sunday, February 13, 2010

Are you running correctly?

AIDS: Physical or Psychological Disease? Sobia Kanwal

A

IDS (Acquired Immunodeficiency Syndrome) is a life threatening disease worldwide but in Pakistan its more mind threatening. The patient living with AIDS in Pakistan suffers more psychologically than physically. Here it is treated as a secret disease. Human Immunodeficiency virus (HIV) is the source of its spread, a devastating virus. AIDS is a pandemic of modern world and infected people are residing throughout the world. In humans it has transmitted from chimpanzees, the close relative of humans. Africa, where people hunt chimpanzees to make it part of their dining table and this practice is the source of its spread in the world. First ever reported patient affected with HIV came on the screen in early 80s and afterwards it is constantly propagating worldwide. HIV attacks the lymphocytes (the defence force of our body). It actually decreases the resistance of the body and makes it susceptible to different ailments. Its common mode of transmission is needle exchange, blood transfusion, unprotected sex, mother to child and blood or blood product route. No vaccine or therapy is available against this infection yet despite a lot of research has been done in this field. Scientist's community is very anxious in finding its cure and busy in determining any possible therapy against it but up till now all efforts are in vein as there is no proper cure has been devised against HIV infections or AIDS.

Although, there has been so many medicines formulated to make the life standard better of an AIDS patient. In Pakistan its ratio is negligible as compared to its neighbouring countries. But, unfortunately, an AIDS patient suffers much

the increased chance of infecting more members of the family e.g. an infected husband or wife can infect their partner or new born babies. AIDS patient cannot even visit doctor easily to get medicine just because of the cruel concepts regarding the spread of HIV and

more in Pakistan than other countries. There is so much miss conception about its transmission modes. People think that only illegal sex is its route of transmission. Due to this concept even well educated people treat an AIDS patient very shoddily ultimately converting an AIDS patient into a socially and morally isolated person. Besides fighting with deadly HIV virus, infected person is also facing a real painful taste of life forcing him/her to avoid the disclosure of their infection even with very close blood relatives of the family resulting in

the social survival of AIDS patient is very difficult in Pakistan. In several studies, surveys have proved that in Pakistan the biggest cause of AIDS spread is due to injection drug users. They reuse the needles and exchange them with each other. But unfortunately, our society has created a mania that the ONLY reason for catching this infection in the illegal sex and an AIDS patient is of loose character, a big crime in this Muslim country. It is very important to note that HIV is an infection like other blood borne infections like

D

study. In a two-year weight loss study, milk drinkers had an advantage over those who skipped the milk, reports the American Journal of Clinical Nutrition.

Researchers led by Danit Shahar from the Ben-Gurion University of the Negev in Israel, found that adults who drank nearly two glasses of milk daily, which provided the highest Vitamin D levels at six months, lost more weight after two years than those who had little or no milk or milk products - nearly six kilograms weight loss, on average. More than 300 overweight men and women aged 40 to 65 years, took part in the study following

low-fat, Mediterranean or lowcarb diets for two years, according to a Ben-Gurion statement. Regardless of diet, researchers found participants with the highest dairy calcium intake six months into the study (averaging about 580 mg daily- the amount in nearly two glasses of milk) lost about six kilograms at the end of the two years, compared to about 3.5 kg for those with the lowest dairy calcium intake (averaging about 150 mg, or about half of a glass). Beyond calcium, the researchers also found that Vitamin D levels independently affected weight loss success and in line with previous research, milk and milk products were the top contributors to Vitamin D in the diets of the study participants. Despite the potential health benefits, many Americans are still not getting the recommended 400 international units (IU) of Vitamin D daily -- the amount in four glasses of fat free or low-fat milk.

Writer is PhD Scholar, Department of Biological Sciences, Quaid e Azam University Islamabad

One in ten of world's adults obese

Milk helps you shed weight rinking milk regularly could help you shed weight, finds a recent

Hepatitis C (HCV), Hepatitis B (HBV) etc all have same mode of transmissions, then why only AIDS patient suffer socially? Why there is so discrimination among an AIDS patient and a patient suffering with HCV or HBV? Why AIDS patient is so much hesitant in telling his/her disease to even a doctor? Pakistan government has national program named, National Aids Control Programme which is providing free of cost treatment to AIDS patient for the improvement of their health standards and their different centres are working in all provinces. But a patient visit the centre is more worried about confidentiality rather than treatment. To eliminate the wrong concepts related to spread of HIV, there should be some proper campaign to aware or teach the common people. Besides the government, it is the responsibility of media (both print and electronic), scientist, researchers community, teachers, doctors and every common man in Pakistan to aware our nation about the disease and to educate them that it is not a symbol of bad character. People who unfortunately caught by this disease can have a better life if society around them accept them like we are accepting HCV and HBV positive patients. By these campaigns the life standard of an AIDS patient can be raised and he or she can have good days of life.

A

new major study has revealed that the worldwide prevalence of obesity has nearly doubled since 1980. The study looked at all available global data to assess how b o d y m a s s index, b l o o d pressure and cholesterol changed between 1980 and 2008. I n 2 0 0 8 , m o r e than one in ten of t h e world's adult population was obese, with women more likely to be obese than men, the study found. An estimated 205 million men and 297 million adult women were obese - a total of more than half a billion adults worldwide. The proportion of the world's population with high blood pressure, or uncontrolled hypertension, fell modestly between 1980 and 2008. However, because of population growth and ageing, the number of people with uncon-

trolled hypertension rose from 600 million in 1980 to nearly 1 billion in 2008. High-income countries achieved large reductions in uncontrolled hypertension, with the most impressive progress seen in women in Australasia and men in N o r t h America. Average levels of total blood cholesterol fell in Western countries of North America, Australasia and Europe, but increased in East and Southeast Asia and the Pacific region. Professor Majid Ezzati, the senior author of the study from the School of Public Health at Imperial College London, said: "Our results show that overweight and obesity, high blood pressure and high cholesterol are no longer Western problems or problems of wealthy nations. Their presence has shifted towards low and middle income countries, making them global problems."

R

unning incorrectly can injure you. Fitness expert Leena Mogre tells you how to step right If you are planning to participate in the marathon, or want to just include running in your daily fitness routine, congratulations on your decision. Good on you for picking a easy, low investment, high returns and most of all, highly effective form of exercise. Running is great cardio and it improves the body's immunity while reducing the risk of stroke and cancer. It's a complete exercise that tones calves, thighs, abdominal, back and shoulder muscles. It strengthens the heart's capacity to pump more blood and lungs' capacity to extract oxygen from the air, relieving stress. Best of all, it slows down the ageing process. But before you take flight, you've got to get your posture and form right to save yourself from injury and get the most out of your jog. Leena Mogre helps you gear up for the dream run. The right way to run Posture Keep your body straight while running. A slouching posture leads to deactivation of muscles in parts of the body, especially the back, causing injury. An upright posture puts less pressure on the knees and facilitates a swifter run. Some people clutch their fists too tight and transfer the rigidity to rest of the body. Keep you arms enough so that even if you were holding a wafer, it wouldn't break. Don't stomp Hear the sound your feet are making to know if you are running right. If there is absolutely no sound then you are running perfectly. You must land on the peds of your feet, below your toes, putting pressure neither on the heel nor on the toes. Letting your feet fall loose on the ground with a stomping action sends shock waves to the shin bone, the knees and the back, causing injury. Hydrate your body People experience pain on the one side of the stomach after running for sometime. Dehydration is one of the most common reasons for the same. Having a glass of water (at room temperature) 30 minutes before running can help avoid the pain. Dehydration can also cause muscle crams. If your routine lasts more than 30 minutes, sip water or sports drinks that have glucose and essential salts lost through sweating. Running on an empty stomach may lead to dizziness. Having a banana 15-20 minutes before. Breathe through the nose Breathing through the mouth dehydrates and tires you quickly. Breathe through the nose if you want to run for a longer time. Over running is harmful Build stamina gradually by starting to run for at least five minutes. Your muscles take time to get used to running. Pay attention that there is no strain on your lungs or leg muscles while running. If you feel any kind of cramp, it's better to stop and take rest. Stretch your schedule by five minutes every two to three days and see if you are comfortable completing the target. Preparation Get the right shoes Many people run in casual sneakers which are not meant for running. It could cause serious harm to the knees because the shoes are not designed to support body weight while running. Buying a branded pair which has been designed for the specific purpose after scientific research. People with flat feet should opt for shoes with an orthotic insole, which provides an artificial arch to supplement better body posture and feet co-ordination. Warm-up Running should start with warm-up, followed by stretching, running, cool down and stretching again. Breaking into sweat is a sign that your body is ready for strenuous physical activity. Strengthen calves and shin After the heart muscle, which works the hardest while running, the calf muscles are the most used. They help regulate blood flow from bottom to top. Standing and sitting calf raises help strengthen them. " Stand on a raised surface such that the heels are lower than the toes. Put your weight on the toes and raise you heels as far as you can. Fall back again and perform three sets of 20 repetitions. " Sit on your toes on a platform, raise your heels and bring them down again. Flex your calves at the top of this movement for one count. Return to the start position and repeat. " The shin muscles take the weight of the body when the foot lands on the ground. To strengthen it, rest your heel on a raised surface such that the toes are on a lower level. Raise the toes up and down for 20 repetitions. Do three sets. Quit smoking The heart and lungs come under immense stress while r u n n i n g . S m o k i n g before running reduces the capacity of lungs to pump oxygen. Diet n The running body burns muscle, so the activity has to be supplemented with proper diet so that you don't lose muscle mass. Include a lot of carbohydrates, protein and calcium content in your diet. n To strengthen shins, rest your heel on a raised surface such that the toes are on a lower level. Raise the toes up and down for 20 repetitions. Do three sets n Stand on a raised surface with heels are lower than the toes. Come up on toes and fall back. Do 20 repetitions in three sets to strengthen calves.

Across the world, parents pass on heart risks H

aving a parent with a history of heart disease almost doubles a person's risk of also getting heart disease, no matter the person's ethnicity or home country, according to a new study. Heart disease kills more than 7 million people worldwide every year. While previous studies have confirmed the relationship between a family history of heart disease and a person's own heart risk in certain populations, the new research suggests that the effect of family history is about the same in cultures across the world. The study also suggests that if your parents had a heart attack, changing your behavior to a morehealthy pattern, while helpful, isn't guaranteed to protect you completely. That's because people whose parents had a heart attack were still more at risk themselves after many

known factors associated with heart disease were accounted for, including diet and lifestyle choices, as well as some genes known to be involved in heart disease. "This study reinforces the important role of family history as one of the very important risk factors, in addition to other known modifiable risk factors," Dr. Christopher O'Donnell, who studies heart disease at the National Institutes of Health and was not involved in the current study, told Reuters Health. It "reinforces the need to integrate the family history into the day-to-day practice of prevention and therapy for heart disease." The new findings are the latest from the INTERHEART study, which was led by Dr. Salim Yusuf of McMaster University in Ontario, Canada and involved patients in 52 countries on every continent except

Antarctica. Altogether it included about 12,000 patients who were being treated for their first heart attack in 1999-2003, and about 15,000 people of the same age and sex with no history of heart disease who were used for comparison. About 18 percent of study patients who had suffered a heart attack also had a parent with a history of heart attack, compared to 12 percent of participants without heart disease, according to the findings, which are published in the Journal of the American College of Cardiology. When the researchers factored in the patient's age, sex, and region of residence, those who had at least one parent with a history of heart disease were still 1.8 times more likely to get heart disease themselves - a number that was consistent across different ethnicities and world regions. The risk was the

same whether it was an individual's mother or father who had the heart attack, but higher if both parents were affected or if either or both parents had a heart attack before the age of 50. Accounting for known heart disease risk factors including smoking and alcohol consumption, fruit and vegetable consumption, and obesity didn't explain the increased risk that comes with having a parent with heart disease. And when the authors tested some of the participants for eight genes that have been implicated in heart disease, genetic differences still did not explain that risk. That could be because there are so many small but important factors in behavior, diet, and lifestyle that play a part in explaining why people whose parents had heart disease are more likely to get heart disease themselves -- including many factors that

haven't been discovered yet. There could also be hundreds or even thousands of genes that play some role in determining a person's risk of heart disease when they are passed from parent to child, doctors say. "We know that family history represents many things," said Dr. Themistocles Assimes from the Stanford University School of Medicine, the author of an editorial accompanying the study. "A lot of those things are genetic. Some are almost certainly environmental (factors) that we don't know about that we can't measure," he told Reuters Health. But, Assimes added, this study showed that "the excess risk associated with family history is about the same everywhere. Whatever those things are that are unknown, they average out to be about the same in terms of increasing risk." Despite the many questions that

still exist about how heart disease risks are shared between generations, just knowing that those risks are there can help doctors in different parts of the world prevent heart disease in their patients. "A family history is a very cheap, simple thing to (find out about)," Dr. Erin Michos, a cardiologist at the Johns Hopkins School of Medicine who was not involved in the study, told Reuters Health. "You don't have to measure anything, there's no lab tests." When you put that together with the fact that doctors, both in the developing and developed world, are getting better at being able to determine who has suffered even a small heart attack, linking parents and children to predict who is likely to get heart disease is only going to get more accurate, Assimes said.Reuters


6

International

Sunday, February 13, 2011

INVESTORS SEE CHANCES IN POST-MUBARAK EGYPT NILE CAPITAL'S SERUMA BETS ON 'MORE ECONOMIC GROWTH' * RESIGNATION TO HALT OUTFLOWS, SUPPORT DOMESTIC MARKET * VAN ECK MARKET EGYPT ETF SETS DAILY VOLUME RECORD

T

he end of Hosni Mubarak's rule in Egypt on Friday should bring opportunities for investors as freer markets and increased commerce gradually take root in a country with 80 million people hungry to become part of the global economy. Mubarak relinquished power to the military 18 days after an uprising led by a technologically savvy young population demanding jobs, freedoms and transparency. Despite the political uncertainty of what lies ahead in the short-term, investors see the Egyptian "White Revolution," as many citizens are calling it, an opportunity to grab market-share in the region's most populous country. "There will be democracy and transparency and these changes will lead to more economic growth," said Larry Seruma, managing principal at Nile Capital Management. "It's a great opportunity to invest in Egypt." Prior to the revolution, Nile Capital's exposure to Egypt was 5 to 10 percent of its $4.79 million portfolio. Under the 30-year rule of Mubarak, Egypt had been a critical ally of the United States and the main stability force in the Middle East. But now that his rule is over, many worry that a power vacuum could lead to a new regime that will oppose Western capitalism and be antagonistic toward Israel, the main U.S. ally in the region. The outcome is yet to be seen. But government officials and investors in general, as well as the majority of Egyptians, are hopeful for a more open government and market. "I think investment in Egypt itself could increase, say, a year from now as a new

government comes in. If that government ends up being democratic in nature, then you could certainly see some improvement," said Bryant Evans, investment advisor and portfolio manager at Cozad Asset Management, in Champaign, Illinois. Even the most powerful and wealthy businessmen in Egypt have been beating the drums of democracy and free markets as the best form of insurance for their investments. "When you have less than, say, 10 percent of the population with checking accounts, there is potential for growth," said Karim Baghdady, managing director of Egyptian-based investment bank Beltone in New York. "When you have a gray economy that is almost as large as the official GDP, if you are able to institutionalize that economy, then people will start securitizing their debts, able to borrow more, buy more. So there is a big domino effect." Egyptian assets make up just a fraction of global emerging market funds, and the economy accounts for just about 0.3 percent of the MSCI emerging market index. The Van Eck Market Vectors Egypt index exchange-traded fund rallied after Mubarak's resignation and set a daily volume record. It was last up 4.8 percent at $18.66. Overall, emerging market equities have come under selling pressure due not only to Egypt's political ructions, but also on profit-taking from 2-1/2 year high benchmark indices. Investors have pulled a net $6.27 billion from emerging market equity funds in the last three weeks, according to data from Lipper, a Thomson Reutersservice. However, when factoring the market price movements on the stocks, the assets under

management in U.S.-domiciled funds are down $10.92 billion, or 5.6 percent since the week ended Jan. 26. Yet this is seen by some dedicated investors as an opportunity. "I have kept my 'hold' on Egypt. I didn't have a 'sell' through this crisis. Nothing that happened today has changed my fundamental view that the outcome will be a good one," said Gabriel Sterne, senior economist at London-based Exotix, a brokerage catering to frontier market investors. In the fixed income space, one fund manager said Egypt's U.S. dollardenominated sovereign bonds have recovered a good portion of lost ground, but is still not convinced the debt issues are a bargain. "I think people realize there was a panic in the bonds and short positions had to be covered, while a potentially more peaceful resolution to the protests, with limited escalation of violence, added to some relief buying," said Jeff Grills, co-head of emerging market debt portfolios at hedge fund Gramercy in Greenwich, Connecticut. The Egyptian pound had been falling steadily since political protests broke out on Jan 25. By Thursday, it traded at 5.887 to the U.S. dollar, marginally lower than Wednesday's close of 5.8775 but stronger than the six-year low of 5.960 reached before the central bank intervention on Tuesday. The stock exchange has been shut after countrywide political protests caused the benchmark index to plunge 16 percent in two days, and analysts have warned of a renewed sell-off when trading resumes, most likely on Sunday.

The regulator said on Tuesday the exchange would suspend trade for a half hour if its broad 100-share index declined by 5 percent, and for longer if it fell by 10 percent. The cost of insuring Egyptian sovereign debt against default or restructuring for five years fell 25 basis to 315 bps after Mubarak's Friday announcement, compared with 380 bps earlier in the day and 340 bps at Thursday's close, data monitor Markit said. They traded around 240 basis points before the start of the year.

Meanwhile, the euphoria on the streets of Cairo is fresh, the uncertainty high and the excitement for a better future palpable. "The new government, whatever shape it takes, will be incentivized to provide work for a greater portion of the population to get them above the poverty line. There has been a lot of foreign investment to give it up. If anything, the economy will grow," said David Grayson, managing director of emerging markets brokerage firm Auerbach Grayson in New York.-Reuters

US finding on Toyota cuts automakers a break T

he U.S. acquittal of Toyota Motor Corp's electronics in cases of unintended acceleration will slow momentum for new safety measures involving brakes, ignition switches and data recorders. Transportation Secretary Ray LaHood's pronouncement Tuesday that Toyota vehicles "are safe to drive" and election gains by regulation-skeptical Republicans puts the additional safety measures in the slow lane. "The window was there in terms of momentum, but now I think it's closed," said one representative of a major automaker involved in regulatory matters. A 10-month study vindicated Toyota's position that it had identified and fixed the only known safety problems by focusing on mechanical issues with accelerator pedals and the risk that floor-

mats could trap the pedal in the open position. Although the U.S. Transportation Department said enough concern was raised during the saga for it to consider new safety mandates, it could take the rest of the year to decide whether to propose changes. A longer timeline allows industry to gradually incorporate software, mechanical and design changes on their own technical and cost terms, and try to get out in front of any government requirements. "They're proactive when they see an issue," Bruce Harrison, an analyst with IHS Global Insight, said of the auto industry. He added that the Toyota fallout could prompt carmakers to step up their attention in some safety areas. One of the measures mentioned by LaHood on

Tuesday, making sure braking overrides any throttle

inputs, is already being widely implemented by automak-

ers. But

some

automakers,

mainly from Europe, have expressed privacy concerns over U.S. regulatory overtures to expand information captured by onboard data recorders. Industry insiders say auto regulations normally take years to finalize and think the Obama administration will move slowly, given its desire to appear more business friendly and dispel the notion that it over-regulates. "They'll be cautious. They have to build a case for the rule," said Mike Stanton, president of the Association of Global Automakers trade group that includes Toyota as a member. A divided Congress is likely to deadlock over any legislative approach to imposing safety technologies. A bill last year that would have mandated brake override, imposed sharply higher

fines and set new corporate disclosure requirements, stalled in the run-up to the November elections where Republicans won control of the House and reduced the Democrat's majority in the Senate. Toyota headlines from early last year about its massive recalls and runaway vehicles had faded by spring - even though damage to its reputation was evident in U.S. sales results. The initial urgency for action by Democrats could not be sustained through summer with political change in the wind and a regulatory chill settling over the Capitol. "Dealing with a new Congress is a challenge and all these safety issues require bipartisan support," said Jackie Gillan, vice president of Advocates for Highway and Auto Safety. -Reuters

India's railways puff slowly to private sector reform

T

entative reforms and some eye-catching projects could herald a private sector-driven shake-up of India's creaking railways, but deeper change is needed to tackle the supply bottlenecks that still crimp growth. Once seen as a shining legacy of the British Raj and still one of the world's biggest employers, India's rail network crams 18 million people a day on to its ageing trains running from the foothills of the Himalayas to the southern beaches of Kerala. Decades of low investment and policy stagnation mean India has fallen far behind emerging market peer China in building a network fit for Asia's third-largest economy. Contrasts abound. While Indian trains are notorious for 24-hour delays, China has made a global splash with a train whose top speed of 486 km/h will halve the travel time for the 1,318 km (819 mile)

journey from Beijing to Shanghai to less than five hours by June. "The Indian Railways is at an infancy as far as the reform and privatisation process goes," said Ranveer Sharma, principal at Eredene Capital , a London-listed private equity investor in Indian ports and logistics. There are some signs of change. The Indian government has initiated multi-billion dollar projects including a $90 billion freight corridor to connect Delhi and Mumbai, with world-class industrial and commercial hubs to be built alongside. Backed by funds from the Japan Bank for International Cooperation and the Sumitomo Mitsui Banking Corporation, officials say the track will cross six states and benefit 180 million people, three times the population of Britain. A second giant freight line to the east will likely be backed

by the World Bank. The private sector is moreover flexing its muscle with inner city metro rail projects that have been snapped up by big-hitting domestic firms such as Reliance Infrastructure Ltd and Larsen & Toubro . "There are encouraging signs," said S. Nandakumar, a Chennai-based infrastructure specialist at Fitch Ratings. "If you look at it on a timescale of where we were say six or seven years ago, there's definitely a lot more activity in the rail sector in terms of expanding infrastructure, in terms of involving the private sector. "On the flipside, in comparison with what we've achieved on initiatives in some of the other sectors, it's a little short." A world away from the country's gleaming new airports, trains teem with rural migrants and hawkers left behind by India's near double-digit growth story. More than 80

percent of the network was built before independence from Britain in 1947. New Delhi has given a big push to infrastructure spending with a planned splurge of $1.5 trillion over 10 years. Railways could end up a laggard as the network receives 5 percent of funds from private money, the lowest figure of any major infra sector, though it takes $20 billion in traffic receipts a year. NEW DESTINATION? The railway ministry has talked up the need for tapping the private sector for funds and in mid-2010 launched two policies to open up freight traffic to private firms. The Private Freight Terminals (PFT) scheme lets private operators build and operate terminals on private land for a duration of 30 years and charge third parties for handling freight, boosting, for example, the business potential of ports and logistics firms.

Another initiative by the ministry was to let private firms run freight trains for certain commodities. "Privatisation of the container trains and the recent PFT policy are perhaps the first seeds sown by the government towards substantial privatisation over the medium- to longterm," said Eredene Capital's Sharma. "Foreign private equity investors, including Eredene, remain keenly interested in such developments." India's infrastructure is a study in contradictions, with showcase projects such as Delhi's revamped airport and a swish sea-link in the financial capital Mumbai set against road and power projects held up for years by red tape and funding gaps. Projects such as the DelhiMumbai freight line are a statement of intent that India's railway sector is playing catchup with the likes of China,

although the projects have proceeded slowly. India needs such projects urgently to ease its expensive, inefficient and polluting reliance on road transport to move around freight, which has in turn fuelled soaring food prices. British private-equity firm 3i Group Plc , which has a major presence in India, may expand its investment to include railways in a $1.5 billion infra fund to be rolled out in 2011. "There is investment required in railways, so for example some of the new ports that are being developed need additional rail links," said Michael Queen, the chief executive of 3i. "And of course, from an environmental perspective, moving cargoes like coal or iron ore is much more environmentally friendly doing it on railways rather than trucking it or building power plants in environmentally sensitive

areas." A lot more could be done. India's powerful Planning Commission, whose de facto head carries ministerial rank and is close to the prime minister, panned the railway ministry's "lack of clear long term vision" in a 2010 report and urged private sector-driven reforms. The panel recommended greater private participation in building world-class train stations and logistics parks, faster building of dedicated freight lines as in Delhi-Mumbai and "rebalancing" heavily subsidised passenger tariffs. Successive governments have ring-fenced the railways ministry as a gift to an ally. Prime Minister Manmohan Singh has handed the reins to Mamata Banerjee, the head of the Trinamool Congress party whose first priority is to win control of her home state of West Bengal in state elections due by May. -Reuters


Sunday, February 13, 2011

KSE lures PPMA members for listing KARACHI: The management of Karachi Stock Exchange (KSE) has motivated Pakistan Pharmaceutical Manufacturers' Association (PPMA) to encourage its member companies to avail the benefits of the capital market through listing. According to KSE announcement, KSE management and PPMA leadership agreed to take joint initiative in this regard. Acting managing director KSE Haroon Askari briefed the benefits and advantages of listing and also appreciated the role of local pharmaceutical industry in the country and

added that through listing the credibility of the company gets enhanced and the company acquires wider exposure of its brand and operations. Chairman PPMA Haroon Qasim was leading the delegation along with former chairmen Dr. Sheikh Kaiser Waheed and Zahid Saeed and other members of the association The representatives of the consultants and lead manager/advisors to the public issue were also present on the occasion, including AKD Securities Limited, Arif Habib Limited, Cassim Investments (Private) Limited, Habib Bank

Limited, JS Global Capital Limited, NIB Bank Limited, Pak Brunei Investment Company Limited and United Bank Limited. The representatives of PPMA also briefed about the pharmaceutical industry of Pakistan its potential and the role being played by the companies in the industry and also highlighted the problems being faced by it. They appreciated the initiative of the Exchange in providing a forum to discuss the issues of mutual concern and to encourage their member companies to list on the Exchange. APP

Shire sees growth sustained after in-line Q4 LONDON: British pharmaceutical firm Shire said it would sustain the strong sales growth of 2010, when its rare disease business reaped a windfall from production problems at U.S. rival Genzyme. Shire, which also makes hyperactivity and gastrointestinal drugs, said sales would again rise by about 16 percent in 2011, against its target to grow revenue in the mid-teens, after it posted fourth-quarter profit matching in-house forecasts. "We are increasingly confident about achieving our aspirational growth targets," Chief Executive Angus Russell told reporters on a conference call. "It's a marginal improvement on people's expectations." Shire's medicines VPRIV, a new treatment for Gaucher's, and Replagal, a drug for Fabry disease, have been prescribed to patients unable to get drugs

No #1

from Genzyme, the leader in rare disease treatments that is in takeover talks with SanofiAventis . Replagal sales rose 80 percent to $109 million in the fourth quarter while sales of VPRIV rose by $57 million to $59 million, Shire said on Thursday. Russell said there was scope to treat more patients with the expensive drugs using its existing manufacturing facility before a new plant comes onstream, predicted for later in the year. Shire finished the year treating 2,300 Fabry patients and could add another 300 patients in 2011, he said, while a couple of hundred additional patients could receive VPRIV on top of just over 1,000 currently. Russell also said the firm expected a larger contribution from the roll-out of Reselor,

Continued from page 8

fully secured. An impartial and impendent judiciary is the corner stone of our Constitution. The CJP said the Supreme Court of Pakistan has decided hundred of cases of public importance in the last few years, to uphold the rule of law including abduction/kidnapping, rape, gang rape, illegal dispossession, illegal detention, excess committed by public officials, torture inflicted by the Police officials, environmental degradation, financial corruption etc. In pursuance of orders of this Court billions of rupees have been recovered and deposited in the public exchequer in the cases of Bank of Punjab, Rental Power Projects, National Insurance Company Limited, etc. Furthermore, compensation was paid to the owner of flats and depositors in the housing schemes and refund of amounts collected from pilgrims for provided requisite accommodation and facility to pilgrims. The judicial organ as a custodian of the constitution has to ensure that the laws are implemented properly in strict conformity with the constitutional norms. Strict adherence to the constitutional norms leads the nation towards prosperity and establishment of Rule of Law in a Country. -APP

No #2

Continued from page 8

the constipation medicine it gained with the acquisition of Belgium's Movetis in November, and growth from its hyperactivity portfolio. Sales of its slow release ADHD drug Vyvanse, which rose 25 percent in the fourthquarter to $181 million, would be boosted by a planned launch in Brazil, he said, and Shire is also developing the drug for use in combination with a stimulant to treat narcolepsy. YOUNG PORTFOLIO Shares in Shire, which have risen 12 percent in the last three months, were flat at 1,656 pence at 1433 GMT. Analysts at Deutsche Bank said the fourth-quarter earnings were in line with its expectations, but they noted that a beat on revenue was driven by the group's new products rather than its former ADHD blockbuster Adderall XR. -Reuters

Smith & Nephew Q4 profit up; CEO steps down LONDON: Smith & Nephew, Europe's largest artificial knees and hips maker, posted a 9 percent rise in fourth-quarter trading profit helped by a strong performance from its knee and trauma units. The company, tipped as a bid target for U.S. rivals Johnson & Johnson and Biomet, also said chief executive David Illingworth would retire in April after four years in the role and would be succeeded by Olivier Bohuon from pharmaceutical firm Pierre Fabre. Illingworth, who is 57, said his departure was not linked to recent takeover speculation, nor was he taking another job elsewhere. "I came to a very difficult personal decision that I needed to return to the U.S.," he said on a conference call on Thursday. "This is probably the perfect time to turn the company over to new leadership. The company is very strong, it is doing well, it is well positioned." Illingworth declined to comment on the bid rumours, and he would not confirm whether the company had been approached by J&J. Smith & Nephew (S&N) posted trading profit of $278 million for the three months to end-December on revenue flat at $1.07 billion, resulting in adjusted earnings per share of 21.6 cents, beating average analysts' expectations. The group said it had delivered a strong performance against the current market challenges and expected its reconstruction business to grow faster than the market in 2011. The speculation, and subsequent rise in the share price to a record, prompted a carefully worded denial from S&N.Reuters

The items which registered increase in their prices included chicken (farm), bath soap, vegetable ghee (tin), cooking oil (tin), washing soap, mutton, garlic, vegetable ghee (loose), red chillies, milk (fresh), curd, bananas, firewood, beef, electricity bulb, wheat flour (average quality), gram pulse (washed), shirting, rice (irri-6), mustard oil, wheat (average quality), mash pulse (washed). The items with no change in their average prices during the week under review included bread (plain), milk (powdered), salt (powdered), tea (packet), tea (prepared), cooked beef, cooked dal, cigarettes, coarse latha, lawn, voil (printed), sandal (gents), sandal (ladies), chappal, kerosene, match box, gas charges (up to 3.3719 MMBTU), electricity charges, petrol, and diesel. -APP

No #7

Continued from page 1

would be provided in this connection as the case is subjudice in court. She further reiterated that freedom of expressions, provision of equal rights to minorities, establishment of precedent environment for women and inter religious consensus are our priorities while achievement of the following goals are impossible without media cooperation. She further said that Pakistan is confronted with different challenges like unemployment and terrorism and the government wanted to tackle these challenges with media support. She said that she wishes that media become's PPP's power to remove hurdles in way of PPP and coalition parties. She further said that it is dire need of hour to play vital role to ensure freedom of expressions, provision of equal rights to minorities, establishment of precedent environment for women and inter religious consensus. She said that Qamar Zaman Kaira is precious asset of PPP and he offered great services for PPP. She said that being part of government or not is no matter but it is honorable to work for the party with obligation. Answering to question she replied that Punjab is elder brother of all three provinces and elder has to render sacrifice. -Online

To a question regarding hiring of services of retired government servants or extension of contracts, he said that there are few posts where we need continuity, particularly mentioning the name of Director General FIA. However, he said the case of extension would be put before the court and the court would decide it. Malik said, "There is still a need to hire the services of outgoing government servants due to their experience and expertise." To another question he said that a competent team is investigatContinued from page 1 No #8 ing into Shaheed Benazir Bhutto murder case. number of court cases, including over the death of a Baloch separatist Replying to a question he stated that action would be taken in leader and violation of the constitution. Karachi against extortionists. -APP

No #3

Continued from page 8

explosion. PPL staff has started repairing work over the damaged pipelines. Meanwhile, unknown extremists gun-down a security official and injured two in the area of Mastong, as per further details, unknown armed persons opened fired on security officials here on the other day and injured three security officials Naeem, Younis and Tanveer who have been shifted to CMH hospital, whereas injured security official, Naeem could not survive and passed away. The further investigations are in progress in this regard. -Online

No #4

Continued from page 8

Meanwhile, former president Pervez Musharraf will not return to Pakistan to comply with an arrest warrant issued by a court over the assassination of Benazir Bhutto, his spokesman said. "No, he won't be going back for this hearing," Fawad Chaudhry, a spokesman for ex-military ruler Musharraf's All Pakistan Muslim League party, told foreign media, adding warrant was "totally ridiculous. Pakistani prosecutor Chaudhry Zulfiqar Ali said Musharraf was alleged to have been part of a "broad conspiracy" to have his political rival killed before elections but the exact nature of the charges was not clear. Chaudhry said he had heard that Musharraf, who was president at the time of her death and who stepped down in 2008, was accused of failing to provide adequate security for Bhutto. "How can the president of a country be made responsible for the nonprovision of security? It's totally ridiculous, you cannot pin criminal responsibility on a president for that," Chaudhry said. He accused Pakistan's judiciary of becoming politicised following Musharraf's dismissal of the country's chief justice in 2007, which prompted a constitutional crisis that eventually led to his own resignation. "It is unfortunate that the judges in Pakistan have literally become a political party," he said. -Agencies

focused approach on Development-aspect of Peacebuilding and long-term economic revitalization by ensuring youth & women employment; private sector engagement, building local entrepreneurship; and developing service-based infrastructure. Judicious handling of untapped natural resources is also needed in a post-conflict zone, he added. Coordination between the Principal Organs i.e. the General Continued from page 1 No #9 Assembly, the Security Council, the ECOSOC and the Secretariat Prime Minister lauded the personnel of police and security forces for as well as intra-departmental coordination within the Secretariat sacrificing their lives for the protection of people. and between the Secretariat and International Financial Prime Minister said Shaheed Benazir Bhutto bridge near Chachran Institutions are essential for achieving better results and avoid Sharif would link the area with rest of the country and would usher in an era of progress and development of the area. duplication, the Ambassador said.-Agencies

No #5

Continued from page 8

The Chief Executive Officer of the Board added that EDB had carried out an assessment of existing capabilities of local manufacturers for manufacturing wind turbine component and the potential for future expansion in capacity through transfer of technology. -APP

No #6

Continued from page 8

The items which recorded decrease in their average prices during the week under review included tomatoes, LPG (11 kg cylinder), onions, egg hen (farm), sugar, gur, potatoes, moong pulse (washed), rice basmati (broken), masoor pulse (washed).

He announced construction of a flyover to link two parts of the city. He also announced upgradation of Khawaja Farid College to university level and land for a graveyard for minorities. He said the Benazir Income Support Programme, which was being acclaimed internationally for its transparency, would also provide health insurance and savings to women on certain slabs of the utility bills. He also announced a campus for Allama Iqbal Open University, which he said, would help educate the youth and provide them better job opportunities. Gilani directed all the ministers to meet local party chapters, wherever they visit and said that such interaction would strengthen the party that was a symbol of unity and federation. Gilani said Rahim Yar Khan was his home as his mother belonged to this region and he had a longstanding relation with the people there.

7 Legislators promise assistance to pharmas KARACHI: Speakers including legislators have assured pharmaceutical manufacturers to find a way out to resolve the issues affecting the industry after passing the 18th Amendment. "If there is a will there is a way", said Dr Farooq Sattar, Federal Minister for Overseas Pakistanis and parliamentary leader of MQM in National Assembly while speaking at a seminar on devolution of health sector organised by Pakistan Pharmaceutical Manufacturers Association (PPMA) here. He said that politics is an art of finding out possibilities and do-ables. "We have passed 19th Amendment to address the issues relating judiciary and we can go for 20th Amendment if needed to resolve the problems facing drug manufacturers", he added. Dr Sattar said that though devolution was very close to him and his party, he is ready to address problems being created in sub sectors of health according to the wishes of stakeholders. He hinted that these problems can be addressed by using the option of double taxation under fundamental rights, items 6 and 13 or invoking Article 144 of the Constitution. He said that the issue can be referred to the Council of

Common Interest for redressal. The minister said that he will try to arrange a meeting of PPMA with the Parliamentary Committee for the implementation of 18th Amendment to resolve this issue. Chairman NA Standing Committee on Health Dr Nadeem Ahsan said that he has convened a meeting of the committee on Feb 9, to discuss this issue. He said that it was necessary to remove all the ambiguities before the implementation of 18th Amendment without affecting provincial autonomy. He said that foreign donors have also shown concerns over this issue which is also affecting Pakistan's millennium goals. Dr Ahsan promised PPMA to consult with Mian Raza Rabbani, head of 18th Amendment implementation committee for addressing these issues. "We have already sought the time from him", he added. Chairperson Senate's Standing Committee on Health and deputy parliamentary leader of BNP in Senate, Begum Kulsoom Perveen supported the demand of having a drug regulatory authority in the centre before developing the similar expertise and organisations in the provinces. She questioned that who will check the quality of medicines and

who will regulate exports and imports. Senator Abdul Haseeb Khan said that the government should give importance to national pharmaceutical industry and resolve its problems. Earlier, PPMA chairman Dr Haroon Qassim, in his welcome address, expressed fears that the devolution of Health Ministry from federation to provinces under 18th Amendment will create problems for the patients as well as the industry in terms of pricing, registration, quality control and licensing. He said that PPMA is not apposing the devolution of health ministry at provincial level under 18th Amendment. "What we are saying is that all the functions of Ministry of Health can go to the provinces except few things like licensing, pricing and quality control and registration should remain with federation until unless provinces become capable of handling them", they observed. Haroon Qasim said that all over the world, drug testing, licensing, registration and pricing are done at federal level. The examples of FDA of USA and MHR of United Kingdom can be cited in this regard, he added. Former chairman PPMA Dr Kaiser Waheed also spoke on the occasion. -APP

"Last chance" for sickly pharma to deliver on R&D LONDON: Drug companies are drinking in the last-chance saloon and have just two to three years to prove to investors they can generate a decent return on the billions of dollars thrown annually at research and development. That's the view of some industry executives whose soul-searching has increased after Pfizer, the world's largest drugmaker, said last week it was slashing R&D and closing its huge site in Sandwich, England, where erectile dysfunction drug Viagra was discovered. "I am absolutely convinced that this will be the last generation of R&D spending unless a decent return is generated," David Redfern, GlaxoSmithKline's head of strategy, told a pharmaceuticals conference. "The industry will not go forward another 10 years spending the money that it has been spending unless the return to investors is dramatically

greater than it has been in the last 10 years." Big Pharma faces a stark dilemma; it doesn't have nearly enough new drugs in the pipeline to replace all those it is about to lose as patents expire on many top-sellers. Despite pouring bumper amounts into research -- more than $65 billion in 2009 in the United States alone -- the number of new drugs launched annually has fallen 44 percent since 1997, according to CMR International, a Thomson Reuters subsidiary. Ten years ago, pharmaceutical sector shares traded at around 30 times expected earnings per share. Today most Big Pharma stocks are bumping along with forward multiples of less than 10, compared with an average for the S&P 500 stocks of 13.2. Eli Lilly CEO John Lechleiter, who has eschewed the merger path adopted by some rivals and is banking on Lilly's own crop of experimen-

tal drugs to resurrect profit growth, acknowledged investors' impatience. "They see us as investing large sums of money and, in American baseball parlance, hitting for the fences with less hope of being able to achieve blockbuster status," he told the Economist conference. "There's less belief on their part that we would make the sort of returns that would make that sort of risk justifiable," he said. Pfizer jolted the industry on Feb. 1 when it said it would cut its 2012 R&D spending by as much as $2 billion from a planned $8.0-8.5 billion, including the shuttering of Sandwich. "Pfizer cut their R&D site in Sandwich and got rewarded by the market for doing so. Other companies are increasing their R&D spend and don't get rewarded by the market," Kemal Malik, Bayer's head of pharmaceuticals development, told Reuters. -Reuters

He said the government was pursuing a policy of reconciliation, with the sole aim of serving the masses as it believed in the sanctity of the people's mandate. If the people do not want us back, we will sit at the opposition benches and continue to serve the masses, he added. Prime Minister Gilani said when his government came into power, there was shortage of wheat, sugar and other commodities, but now their support price had been raised and the farmers were getting a hefty price for the hard labor they put in. He said Pakistan was today in a position to export wheat, besides meeting its food requirements. -Agencies

No #10

Continued from page 1

started the search operation in Dir and Swat. Forces signaled to stop a vehicle at a check post but extremists opened the indiscriminate firing on security forces personals. In retaliation, forces killed the seven extremists and recovered the heavy weapons from their possession. -Online

No #11

Continued from page 1

"We are hopeful the talks between the foreign secretaries will go in a direction that is positive and pave the way for a bigger meeting (between the foreign ministers) whenever that will be," he added. The composite dialogues between the two sides were put on hold after 10 Pakistani terrorist carried out coordinated attacks in Mumbai in November 2008, killing 166 people. Before entering into talks with Pakistan again, India wanted the perpetrators of the attack to be brought to justice. Responding to why India was now agreeing to talks, Krishna said, "Nothing is static in relationships between countries." The minister, however, stressed that New Delhi still expected Islamabad to act expeditiously on the Mumbai attacks. "India expects that Pakistan will take continue to take steps to bring to justice all those perpetrators of the Mumbai attacks," he said. "Having taken that position it is necessary for our two countries to engage on various other issues where we will be able to come to reasonable agreements, which will be beneficial to the people for both the countries," he added. The stage was set for renewed talks when Foreign Secretary Nirupama Rao met her Pakistani counterpart Salman Bashir in Thimphu on Sunday. The talks will include issues like Siachen, Kashmir, counter-terrorism, peace and security, economic issues, humanitarian issues, the Wullar Barrage/ Tulbul Navigation Project and Afghanistan. Krishna also said that it was "necessary" for India and Pakistan to discuss Afghanistan. "I think it was necessary for us to discuss Afghanistan, India has been playing a very positive role in trying to build Afghanistan in terms of our volunteers who have gone there for capacity building and so I think Afghanistan had to be included," he said. -Agencies

No #12

Continued from page 1

These are ABL, AKBL, BAFL, BAHL, BIPL, BOK, HBL, HMBL, JSBL, KASB, MCB, MYBK, NIB, SMBL, SNBL and UBL. The maximum amount for bank guarantee from the banks ranging from Rs 400 million to Rs 1 billion per member per bank will be acceptable on the basis of its ranking.-Agencies

No #13

Continued from page 1

He said that sacrifices would be rendered for the sake of the country. He said that international and national courts should probe my assets and if I am found guilty then punish me otherwise those responsible of leveling charges against me should be make accountable. He said that Sarfaraz's inclusion in MQM proved that revolution is knocking at the door. Meanwhile, Sarfaraz Nawaz visited nine-zero. Dr Farooq Sattar accorded him warm welcome on this juncture. -Online

No #14

Continued from page 1

"Pakistan and India will hold talks on all the outstanding issues," Salman Bashir said while talking to media men here. He said foreign secretaries of the two countries would meet after June to engage in dialogue while the foreign ministers will have a meeting in July. The process of talks with India will progress with discussion on all outstanding issues, he added. Salman Bashir underlined need for raising people-to-people level effectiveness of SAARC. He hoped that issues between Pakistan and India would be resolved. "Pakistan and India have made headway on key issues," the Foreign Secretary said, adding, both the countries are willing to move forward for accomplishing progress, stability and peace.-Agencies


www.asharys.net

For Subscription

Manager Circulation Ahmad Omer

1.Classic News Agency Abdul Mutalib Ph: 0333 -230 07 66 2. E-mail at subscribe@thefinancialdaily.com, 3.SMS us at 0322-260 2 838 4. Contact Phone: 35 31 18 93 - 6

Italian Kitchens Karachi

Lahore

tel: 92(21)5860794-5

tel: 92(42)5694061-2

8

Sunday, February 13, 2011

RIAZ NEWS AGENCY Cell # 0333-5373137

SHAKIL NEWS AGENCY Cell # 0333-4400472

Justice Iftikhar address SC Bar

Injustice, root cause for corruption: CJP

LAHORE: Chief Justice of Pakistan Iftikhar Muhammad Chaudhry addressing a seminar organised by Supreme Court Bar Association here on Saturday. SCBA president Asma Jehangir also present.-Online

No diplomat can carry arms: Malik ISLAMABAD: Interior Minister Rehman Malik on Saturday said that no diplomat can carry arms while travelling to any part of the country. Talking to media here at Federal Investigation Agency (FIA) headquarters, he said a letter in this regard was already written to all diplomates and it is very much with them. About Raymond Davis, he said that a separate case was registered against Davis for carrying arms, however, he got bail from the court in the case, he added. Malik said since the Raymond Davis case is subjudice; therefore, we should avoid comments on it and let the court decide. The minister made it clear that nobody could do forgery with Davis passport, adding that his passport is with Punjab Police while the federal

interior ministry also has his record. He said, "I have a record of his passport and visa and the file is with my secretary and we will present it to the High Court whenever it is required." He said the name of Davis is on Exit Control List (ECL) and he is in Punjab police custody with special security. "We wish to do work which are in favor of Pakistani people. Let us wait for the decision of court in Davis case." Earlier, he warned those officials of his ministry of termination from services who would not show performance. He further said, "If someone will try to influence me through any means for his promotion or transfer, I will prefer to suspend him." See # 2 Page 7

Pak proposes steps for UN reformation UNITED NATIONS: Permanent Representative of Pakistan to the UN, Ambassador Abdullah Hussain Haroon has said that four-prong approach, including preventive diplomacy, Peacekeeping, Peacebuilding and systemic coordination within and outside the UN, need to be adopted to address the issues of peace and security. Participating in the debate of the Security Council on "Maintenance of International Peace and Security: Interdependence between Security and Development", here he said that addressing root causes of conflict through inter alia pacific settlement of disputes; disengaging conflicting parties and reducing violence by deploying peacekeeper; creating

conditions conducive for sociopolitical stability with innovative peacebuilding strategies; and ensuring overall coordination among all stakeholders to forge synergies are imperative to achieve these objectives. Ambassador Haroon said Peacekeeping and Peacebuilding are specialized disciplines with cross-cutting themes, which share a common objective of preventing relapse into conflict. He underlined the need for necessary balance between Peacekeeping and Peacebuilding, which can be evaluated for each Mission tailored according to the prevailing situation. He underscored the need for a See # 4 Page 7

2nd wind energy project launched ISLAMABAD: The second pilot wind energy project has been launched by installing turbine at the highest point of the Capital Daman-e-Koh. Chief Executive Officer of Engineering Development Board (EDB), Aitzaz A Niazi, senior officials of the Board and members of the management of AGECO firm attended the ceremony. The AGECO has earlier installed first wind energy turbine at F-7 crossing for generating energy by flow of traffic and supply it to traffic signals. Aitzaz A. Niazi appreciated the efforts of the firm terming it a landmark achievement and said efforts are afoot to grant more concessions to pioneer of the wind energy projects in the country. The second wind turbine will generate 2Kw energy and its life is 20 years. Therefore, it is financially viable as it

covers its cost in first year of operation. The firm planned to generate enough wind energy for supply of electricity to street lights and traffic signals of the Capital. The Board has taken up their case with the chairman of CDA for meeting their demand of enough suitable sites. Later the firm planned to cover Rawalpindi-Lahore motorways for similar projects. According to details, a wind energy vertical turbine has been designed which operates at availability of wind in range of 2.1 meter to 7 meter per second against the maximum required range of 3.5 meter per second to generate 1.5 to 2Kw of energy in 24 hours. The locally designed wind energy turbine will cost Rs200,000 per kw as compared to imported turbine costing Rs.1 million per Kw. See # 5 Page 7

Gasline blown up in Dera Bugti QUETTA: Unknown militants have blown up gas supply line with explosive material in Dera Bugti here on Saturday cutting of the supply of gas to the plants. As per different reports, the unknown militants have blown up major gas supply lines in Dera Bugti with explosive material the supply line was supplying gas to two plants from different wells. In the first incident, more than 8 inches wide Qatar pipeline, which was supplying gas to well number 1, was blown up in the area of Dera Bugti, whereas in the second incident more than 16 inches wide Qatar gas pipeline, which was supplying gas to well number 4, 5 and 15 has blown up with explosive material. The supply of gas to the gas plants has been suspended after the See # 3 Page 7

LAHORE: Chief Justice of Pakistan Iftikhar Mohammad Chaudhry has said that administration of justice generates a feeling of satisfaction in the people and thereby promotes social peace. If the lamp of justice becomes broken then there will be great darkness. Injustice anywhere is a threat to justice everywhere. Addressing at the Supreme Court Bar association here on Saturday Chief Justice said the legal fraternity serves the nation through dispensing justice to all segments of society and all manner of people. "The administration of justice has always been a covetous objective of a civilized government. But the importance given to it by Islam may well be gathered from the fact that "Justice" is considered to be an attribute of God and the administration of Justice, as the performance of a religious duty", the CJP said. He said the State by itself is an abstract entity; it is manifested through the functioning of its three major institutions namely legislature, executive and judiciary. These organs are the creation of the

supreme law of the State known as the Constitution. These organs have specified spheres of functioning. In their respective areas, each organ is sovereign and supreme, and so far as it remains confined to the area of operation, no interjection from any other organ or institution is permissible. But if so happens, there is a recourse provided to end such interjection. To this extent the judicial organ is empowered to act as a referee. It may be stated that though the judiciary itself is also an organ of the State and as such, is required to perform somewhat difficult task of having to sit in judgment over the functioning or performance of State organs. The prohibition on exceeding limits or areas of operations, is binding on all organs including the judiciary. Long ago, this Court settled the controversy through one of its celebrated judgment in the case of State v Zia-ur Rehman by ruling that the Court too is subservient to the Constitution and its power to hear and determined, is subject to limitations contained therein and can be exercised only

with regard to the subject over which it is given jurisdiction. In other words, while adjudicating upon disputes and conflicts among institutions, the Court exercises judicial power, as mandated by the Constitution. However in doing so, the Court is also obligated to determine the extent of and limits to its own jurisdiction. The CJP said the challenges posed by the present-day realities require a well thought out strategy to steer the state ship through the troubled waters in a smooth and cohesive way/manner. In the context of third world, more so Pakistan, it becomes incumbent upon the judiciary to stick to the constitutional norms and ensure that other State organs and their functionaries also follow the constitutional principles and abide by its dictates. He said the independent judiciary is correlated with the democratic system, as both of them go side by side; the existence of one is indispensable for the other. Our Constitution in its Preamble also emphasizes that independence of judiciary shall be See # 1 Page 7

Senate body OKs Arbitration Bill ISLAMABAD: The Senate Standing Committee on Law, Justice and Parliamentary Affairs on Saturday approved a bill moved by the government titled "The Arbitration (International Investment Disputes) bill-2010. The bill has already been passed by the National Assembly and was referred to the Senate Committee on February 3 for con-

sideration. The Committee meeting was chaired by Muhammad Kazim Khan and attended by senators Dr Saeeda Iqbal, Syed Zafar Ali Shah and Prof Khurshid Ahmed, besides senior officials of the Ministry of Law, Justice and Parliamentary Affairs and the Senate Secretariat. The Committee deferred two bills

including "The Criminal Law (Amendment) Bill, 2010 and "The Code of Criminal Procedure (Amendment) Bill, 2010" , which have already been passed by the National Assembly. The Committee also deferred a private member's Bill "The Constitution (Amendment) Bill2010" introduced by Senator Prof Khurshid Ahmed. -APP

Weekly inflation rises a little ISLAMABAD: The Sensitive Price Indicator (SPI), for the week ended on February 10, for the lowest income group up to Rs3000, has registered increase of 0.03 per cent over the previous week. The SPI for the week under review in the above mentioned group was recorded at 296.33 points as against 296.25 points registered in the previous week, according provisional figures of Federal Bureau of Statistics (FBS). The weekly SPI has been computed with base 2000 2001=100 covering 17 urban centers and 53 essential items for all income groups and combined. SPI for the combined group also registered an increase of 0.22 per cent as it went up from 280.76 points in the previous week to 281.38 points in the week under review. As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed increase of 16.28 percent. As compared to the last week, the SPI for the income groups ranging from Rs.3001 5000, Rs.5001 12000 and above Rs.12000 increased by 0.05 percent, 0.13 percent and 0.24 percent respectively. During the week under review average prices of 10 items registered decrease, while that of 22 items increase with the remaining 21 items' prices unchanged. See # 6 Page 7

Printed & Published by Amir Abbas Ashary at DRC Printing Press for Data Research Communication (PVT) LTD, 111-C, Jami Commercial Phase VII, DHA Karachi.

The Financial Daily-Epaper-13-02-2011  

The Financial Daily Epaper

Read more
Read more
Similar to
Popular now
Just for you