Lahore: The position of the river inflows/outflows and the reservoirs levels today is as under: Rivers Inflows (In Cusecs) Outflows (In Cusecs) Remarks Indus at Tarbela 143800 140000 Mean flows of 24 hours Kabul At Nowshera 53100 53100 Mean Flows of 24 hrs. Indus at Chashma 189600 177000 Mean Flows of 24 hrs. Jhelum at Mangla 62200 35000 Mean flows of 24 hours Chenab at Marala 50800 19100 Flows at 0600 hours   Barrages Inflows (In Cusecs) Outflows (In Cusecs) [...]

Lahore: The Pakistan Credit Rating Agency (PACRA) has maintained rating of ‘A-’ (Single A Minus) of privately placed secured Sukuk of PKR 880mln by Amreli Steels Limited (ASL). The rating denotes a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments. The rating reflects the established franchise of the company in reinforcement steel bars manufacturing segment. The rating incorporates continuing demonstrated commitment of sponsors – Akberali Family. However, financial profile of the company [...]

Islamabad: Women entrepreneurs on Friday demanded incentives and tax breaks in the national budget saying that the progress can be achieved by providing equal opportunities to the 52 per cent of the population. Allocation for development of women should be satisfactory while fiscal policies should help reduce poverty level of women, said Samina Fazil, President, Islamabad Women’s Chamber of Commerce and Industry (IWCCI). Speaking at a meeting at FPCCI Capital office, she said that effective use of public resources can [...]

Karachi: A leading newspaper publisher in Pakistan and the president of the nationwide newspapers body has reacted sharply to charges by the Inter Services Intelligence Agency (ISI) that allegations by Human Rights Watch of the intelligence agency’s involvement in the murder of Pakistani journalist Salim Shahzad were “baseless”, stated a press release issued by Mr. Hameed Haroon, President, All Pakistan Newspapers Society (APNS). ”It has come to my notice that a spokesman of Inter Services Intelligence (ISI) while speaking to [...]

Islamabad: The UK International Development Secretary Andrew Mitchell is in Pakistan this week to see innovative new approaches to get more children in to school, help more poor people to access financial services, and improve the health and avert deaths of women and children. Visiting a school for poor students in Karachi today, he said: “Pakistan faces an education emergency. Half the country’s adults can’t read or write; more than a third of primary school aged children are not in [...]

Karachi: Notice is hereby given that the Forty Seventh Annual General Meeting of the members of Atlas Honda Limited will be held on Thursday, June 23, 2011 at 11:00 A.M. at the Registered Office, 1 -McLeod Road, Lahore, to transact the following busine...

Karachi: In this respect, it is apprised certain matter related financial statement and capital support from SBP-and the government are still under process of finalization, we feel that issuance/publication of accounts without the above arrangements may jeopardize the interest of the shareholders and other stakeholders. In view of genuine difficulties faced by the Bank, State Bank of Pakistan vide letter dated 8.10.2010 and Government of Pakistan, Finance Division through notification dated 30.03.2010 has allowed submitting and publishing the quarterly accounts for the period ended March 31, 2009 to June 30, 2010 and AGM approved annual audited Accounts for the year ended December 31, 2009 not later than December 31, 2011 (Copies enclosed). Accordingly post dates quarterly and annual accounts also solely depend upon finalization of the same. It is hoped it would satisfy your concern on the issue. It may kindly be further noted that we are committed to make best efforts to ensure that quarterly accounts, as well as half- yearly and annual accounts duly approved in AGM are made available in accordance with the law at the earliest. Extension in Publication of Interim and Annual Financial Statements Please refer to your letter no. PS/383 dated September 27, 2010 on the captioned subject. The copy of the notification dated September 30, 2010 issued by Finance Division, Government of Pakistan is enclosed, which is self explanatory. Moreover, the Bank of Punjab has been allowed to submit and publish the quarterly accounts for the periods ended March31, 2009; June 30, 2009; September 30, 2009; March 31, 2010 and June 30, 2010 not later than December 31, 2011. However, you are advised to make concerted efforts to complete the activities leading to submission of the above mentioned financial statements well before the stipulated time. Notification F.No10 (2)-Bkg.1/2010.In exercise of powers conferred under the Section 93 of the Banking companies ordinance (BCO), 1962, the Federal Government, is pleased to exempt Bank of Punjab (BOP) from the provisions of Section 34 and 36 of BCO, 1962 and Rule 14 of Banking Companies Rules, 1963, relating to preparation, submission and publication of AGM approved annual audited accounts for the year ended December 31, 2009 with effect from 1st July, 2010 to December, 2011 or till finalization of Further capital injection to BOP which ever is earlier. For more information, contact: Raza Saeed Secretary Nadeem Amir CFO The Bank of Punjab Secretary's Office, BOP Tower, 10-B, F-II, Main Boulevard, Tel: +9242 5783976, Fax: +9242 5783975