Annual Function 2012 – DA Beach view School

Karachi: The annual prize distribution ceremony of Defence Authority Model High School Beach View was held here today. Ms Rafia Mallah, Controller of Examination, Board of Secondary Education Karachi was the chief guest of the function.

Ms Rafia Mallah said that education was a harbinger of change in life. She reiterated that good early education provided a sound foundation for progression in life and transforms ones attitude, conduct and outlook towards life. She appreciated the performance of students and said that the school had earned good name and reputation for itself in the important areas of basic and primary education.

Earlier the Principal, Mrs Asma Siddiqui in her welcome address highlighted the achievements of the school in various curricular and co-curricular activities. She said that the school pursued an indigenous agenda aimed at ensuring intellectual and physical development of students in an intellectually vibrant academic environment.

The students presented an exhilarating variety programme comprising of tableaus, songs, short plays and skits. The young and vibrant kids on the occasion presented a colourful tableau, ‘God is the Creator’.

An English play ‘Anna and the King of Siam’ depicted the exciting and hilarious experience of an English teacher in the Royal family of Siam (Thailand).

The Urdu play ‘Chacha Chakkan’ was an excellence humorous presentation which portrayed the famous characters of Urdu literature. An English play on Kashmir manifesting its beauty, the glorious past, painful present and uncertain future was very impressive and highly appreciated by the audience.

At the end the chief guest awarded prizes among the students who excelled in various curricular and co-curricular activities. Director Education DHA Commodore Talib Hussain (Retd) was also present on the occasion.

For more information contact:
Pakistan Defence Officers Housing Authority
2-B, East Street, Phase-I
Karachi-75500
Pakistan
UAN: 92 21 111-589-589
Phones: 92 21 35886401-5
Fax: 92 21 35886406
E-mail: dha@dhakarachi.org ,info@dhakarachi.org

Jamali Emphasizes the Need for Frequent Parliamentary Exchanges and People to People Contacts for Boosting Pak-Afghan Relations

Islamabad: Deputy Chairman Senate Mir Jan Mohammad Khan Jamali has stressed the need for frequent parliamentary interactions for generating better understanding between two neighbourly and brotherly countries to seek solutions to common challenges facing the two nations and for lasting peace and stability in the region for ultimate progress and prosperity of the people. Jamali added that Afghanistan is an independent country and historical evidence indicates that brave Afghan people never allow foreign occupants to take route on their soil.

He was expressing these views while having an interactive session with visiting Afghan Parliamentary delegation here today. Senator Salim Saifullah Khan, Chairman Standing Committee on Foreign Relations, Senator Hafiz Rashid and Secretary Senate Iftikharullah Babar were also present on the occasion.

“The doors and hearts of Pakistani people are always open for their Afghan brethren. The more we interact and have discourse the more understanding we have and will be better able to cope the challenges facing us”, Jamali added.

Reciprocating, the Afghan delegation offered their heartiest thanks for warm welcome received in Pakistan and hospitality extended. They appreciated this exclusive opportunity provided by Chairman Senate Mr. Farooq H. Naek to visit Pakistan and meet Pakistani friends and have close interaction with their counter parts and other high dignitaries.

“We consider it an obligation for every Afghan delegation and every Afghan citizen to be grateful for help and cooperation extended by Pakistan in times of Jihad against Soviet Union as well as unabated support to Afghan Muhajreen by Pakistan. Millions of our Martyrs are buried in soil of Pakistan.

We are grateful for Pakistan’s support since last three decades in every way. We consider Pakistan as our second home and appreciate education opportunities provided to Afghan students”. The President of Meshrano Jirga (Upper House) Fazl-e-Hadi Muslimyar said.

Jamali reiterated that it is high time that we must strive for bringing the two nations closer as we share common history, culture, language, religion and borders.

Mr. Fazl-e-Hadi said that Afghanistan is an independent country and wants to be dealt as such and Pakistan can play crucial role in development of Afghanistan. Pakistan’s cooperation in this regard is incumbent for stability of Afghanistan and the whole region.

Pakistan and Afghanistan’s stability and prosperity are interlinked and we must take practical steps to achieve break through via ongoing peace talks and Pakistan’s role as mediator is essential for their success. He added.

We need Pakistan’s assistance in post-withdrawal scenario of US led forces for making Afghanistan stable and sustainable. He reiterated that Parliaments of both countries should strive for this common end. We must joined hands for better future of our children.

On the behalf of Afghan nation we offer deep and sincere condolences for loss of precious lives of Pakistanis at the hands of NATO forces. Our innocent Afghan people are also victims of such attacks and we share the sorrow and pain of bereaved families and Pakistani nation. He further said that NATO containers stoppage should not affect Afghanistan’s interests and trade with Pakistan.

The President asked Deputy Chairman Senate to use his good office in order to expedite completion of the projects initiated by Pakistan in Afghanistan. Pakistan must invest in Afghanistan for its development.

Reciprocating, Jan Jamali said that we as Parliamentarians must engage each other along with our people for peace, stability and progress of the two nations and must try to enhance our cooperation in all fields including education, health and trade.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com

Speaker administers oath to new bearers of Baluchistan Assembly Officers Welfare Association

Quetta: Speaker Baluchistan Assembly Muhammad Aslam Bhootani on Thursday administered Oath of office to the newly elected office bearers of Baluchistan Assembly Officers Welfare Association.

Speaking on the occasion the Speaker listened to the problems and demands of the association assured his full cooperation in resolving problems.

The new office bearers of the association while recognizing the efforts of the Speaker in resolution of Assembly Secretariat’s problems assured the Speaker and Assembly Administration their full support and cooperation in smooth running of Assembly Secretariat’s affairs.

For more information, contact:
Provincial Assembly of Baluchistan
Zarghoon Road, Quetta.
Pakistan

Supreme Court Hears Civil Review Petition No. 20 of 2011 in Human Right Case No. 10322-p/2009

Islamabad: A three member bench headed by the Honourable Mr. Justice Iftikhar Muhammad Chaudhary, Chief Justice of Pakistan and comprising other two members namely Honourable Mr. Justice Khilji Arif Hussain and Honourable Mr.Justice Tariq Parvez heard Civil Review Petition No. 20 of 2011 in Human Right Case No. 10322-P/2009 (Action taken on press clipping published in Daily Jang dated 12.10.2009 on an appeal of Raja Muhammad Riasat).

Senior lawyers appeared on behalf of the applicants, CE, Bahria Town while Mr. Jawad Hassan, Additional AG, Government of Punjab. Mr. Bani Amin Khan, IGP Islamabad along with other officers appeared for Islamabad police.

The instant proceedings originate from an appeal, published in Daily Jang, dated 12.10.2009, made by Raja Muhammad Riasat father of the deceased Muhammad Fayyaz.

Today, when hearing of the case commenced, it was enquired from the Police Officials, who were present in Court about progress of the case arising out of FIR No. 172 of 2008, lodged by one Shaukat Ali, who claims himself to be a Supervisor of the DHA, regarding investigation in murder case of Muhammad Fayyaz s/o Raja Muhammad Riasat. It was stated by the Police officials that after 10.10.2010, no progress has been recorded.

It was noted that the details of the incident have already been mentioned in the order of this Court dated 26.10.2009, which may be read as part of this order. With reference to said order an inquiry report has also been received from the District and Sessions Judge, Islamabad.

Mr. Hamid Khan learned Sr. ASC appearing on behalf of Malik Riaz Ahmed, Chairman, Bahria Town, Islamabad raised objections on the report submitted by the District and Sessions Judge, Islamabad. In the meantime, Mr. Bani Amin Khan, Inspector General of Police, Islamabad also appeared on the call of the Court; he failed to answer satisfactorily that despite of registration of the case, wherein a person has been killed, no final conclusion, prima facie, fixing the responsibility upon the accused persons, has been made. However, he stated that after registration of the case, more than 6/7 SHOs and IOs under the Supervising Officer have been changed from time to time but no one has probed into the matter thoroughly.

It was noted that instant proceedings were initiated upon murder case of Muhammad Fayyaz; therefore, it could not be finalized unless the police finally conclude the matter in all respect at their end and culprits charged for the offence have been brought to justice.

The Court observed from the record, that prima facie the police officers have conducted the investigation in this case in a callous and careless manner, without using their professional skills. It was further observed that a perusal of record indicates that whenever the complainant-Shaukat Ali appeared and got recorded his supplementary statement, wherein he charged/named new persons, the police involved/interrogated them; where after, some of they were released whereas few had succeeded in getting bails from the Court of law.

In this behalf reference can be made to record, which shows that the complainant has lodged an FIR on 14.08.2008, wherein he has named few persons to be accused; followed by recording of his supplementary statements on 04.12.2008, 21.01.2009 and 14.05.2009, wherein perhaps as per his desire, he named and added accused persons, who have been interrogated, as explained hereinabove.

This clearly indicates the highhandedness of the police. In this context, a good number of persons have also appeared before the learned Sessions Judge, Islamabad; however, this aspect of the matter shall be considered subsequently, subject to objection raised by Mr. Hamid Khan, Sr. ASC upon admissibility of the said report.

The Inspector General of Police, Islamabad stated that prior to taking of charge by him, five IGPs had been changed and everyone knowing well about pendency of such an important case, had not bothered to take this case to its logical conclusion; however, he undertakes that if three weeks time is allowed to him, he would constitute a team, which shall probe into the matter thoroughly and the investigation shall be completed in accordance with law; a report in this regard shall be submitted before this Court before the next date of hearing.

The Court agreed with the suggestion so made by the learned IGP Islamabad and allowed him three weeks time as requested by him, to do the needful; however, it was observed that he himself shall supervise the investigation of the case and proceed with it without being influenced from anyone in any manner nor he would be influenced from the proceedings, which are pending before this Court because independent investigation is required to be conducted in the case and the real culprits/accused, who are involved in the commission of offence, are needed to be dealt with in accordance with law and the case was adjourned to 27.02.2012”.

For more information, contact:
Shahid Hussain Kamboyo
Public Relations Officer
Supreme Court of Pakistan
Tel: +9251 920 4184
Fax: +9251 920 1001
Email: pro_scp@yahoo.com

Morning Buzz for Feb 02, 2012 – MR Securities

Karachi: Major Companies Declare Results

According to MR Securities,

• The PAT of Attock Refinery Limited (ARL) increased by 55% to Rs2.3 billion in half-year period ended on December 31, 2011 from Rs1.5 billion earned in the same half in 2010.

• Attock Petroleum Limited announced a net profit of Rs2.21 billion, which is 27 percent higher than Rs1.74 billion earned in the same period in 2010

• Attock Cement Pakistan Limited has posted Rs 507.100 million as profit after tax in the half year period ended December 31, 2011 as compared to Rs 235.101 million earned in the corresponding period in 2010.

75 products from Pakistan: WTO okays EU duty waiver
The World Trade Organisation’s (WTO) Council on Trade in Goods (CTG) on Wednesday unanimously approved the much-awaited the European Union (EU) waiver on duties for 75 products from Pakistan, allowing duty-free import of 75 products from Pakistan. These products include certain textile products, leather goods and ethanol.

NA and FPCCI seeks immediate withdrawal of POL price hike
The National Assembly, along with the country’s apex trade body on Wednesday, demanded the government to immediately withdraw the recent price hike in petroleum products.

Rebound: CPI Inflation slips into double digits again
The government’s decision to increase the prices of POL products will fuel inflation in the remaining months of the current fiscal year, as it inched up to 10.10%.

SECP introduces new regulatory framework for capital markets
The Securities and Exchange Commission of Pakistan (SECP) has introduced a regulatory framework for implementation of anti-money laundering (AML) and counter-financing terrorism (CFT) regime in the capital market of the country.

Govt reaches final stage of taking over power sector loans
Following successful negotiations with the banks, the government is in the final stage of taking over power sector loans to the tune of Rs138 billion, including fresh loans of Rs28 billion, offering the lenders a swap with government papers.

NBP dedicates Regional IT Centre to Arfa Karim
President National Bank of Pakistan (NBP) Qamar Hussain said on Wednesday that the bank had plans to get its countrywide branch network fully online within next few months

More emphasis placed on non-financial assets’ value in CEOs survey
In the wake of the financial crisis, three-quarter of the world’s Chief Executive Officers (CEOs) say more emphasis should be placed on measuring the value of non-financial assets such as intellectual capital and customer relationships to drive long-term performance, according to research from the American Institute of CPAs (AICPA) and Chartered Institute of Management Accountants (Cima).

Cut in GST on tractors: SRO being issued today: Paapam
The Statutory Regulatory Order (SRO) to give legal effect to the government decision to cut General Sales Tax (GST) on tractors from 16 percent to 5 percent is being issued today (Thursday), Chairman Pakistan Association of Automotive Parts and Accessories Manufacturers

Petroleum Policy 2009 awaiting consideration by CCI: National Assembly informed
Minister for Petroleum and Natural Resources, Dr Asim Hussain on Wednesday said Petroleum Policy 2009 after completion of review is now awaiting consideration by the Council of Common Interests (CCI).

Ban on POL export to Afghanistan: FBR to issue instructions to MCCs
FBR has yet to issue instructions to the Model Customs Collectorates (MCCs) to ban export of locally-produced POL products to Afghanistan despite issuance of SRO.67(I)/2012 dated January 27, 2012 by the Ministry of Commerce.

Future of Pak-US bilateral relations lies in commerce, trade
US Embassy Commercial Counsellor Brian McCleary said Wednesday that he was very optimistic about future of Pakistan-US bilateral relations.

Morning Briefing for Feb 02, 2012 – Standard Capital

Karachi: KSE alters MTS rules

Karachi Stock Exchange (KSE) has amended Securities (Leveraged Markets and Pledging) Rules 2011, as notified by SECP, bringing in changes in margin trading system (MTS) effective from February 6, 2012.

According to Standard Capital to KSE here Wednesday, broker trading financiers have been allowed to provide financing in MTS through their individual clients as well subject to fulfilment of eligibility criteria. Similarly, minimum financing participation ratio (MPR) has been revised from 25 % to 15 % i.e. minimum equity participation of the finance is 15 % of margin trading transaction value. The finances shall be required to deposit margins on their open position of MTS transactions. Accordingly, National Clearing Company of Pakistan Limited (NCCPL) has planned to implement the aforementioned changes in MTS as follows; Effective from Monday, broker trading financiers will be allowed to provide financing in MTS through their individual and corporate clients. However, existing requirement of individual FPR of 15 % will remain applicable till February 17, 2012.Brokers trading financing are required to submit an undertaking to NCCPL to confirm that their individual clients fulfil the eligibility criteria. Effective from February 20, 2012, the minimum requirements would stand reduced to 15 % in cash only.

Monthly inflation up 1.54 % Jan Prices 10.10 % yoy
The inflation rate based on the Consumer Price Index (CPI), a key indicator of inflation, has increased by 1.54 % during January 2012 as compared with that in December, 2011.Analysts had forecast January inflation at 10 % according to a Reuters poll. Rising food and fuel prices were the major factors fuelling inflation. Briefing media persons here on Wednesday, the Secretary Statistics Division said that inflation increased by 10.10 % in January 2012 over the corresponding month of last year. Average inflation rate during the period from July‐January 2011‐12 increased by 10.76 % as compared to the same period of last year, he added. The Pakistan Bureau of Statistics (PBS) collects the retail and whole sale prices and computes the CPI, Whole sale Price Index (WPI), Sensitive Price Indicator (SPI) on weekly basis. In January, the CPI, SPI and WPI increased by 1.54 % 1.01 % and 2.26 % respectively over the month of December 2011.(TFD)

IDB to invest $40b for energy, uplift
Islamic Development Bank (IDB) will invest $40 bn in Pakistan during next three years in energy sector and infrastructure development.., Chief Executive of Islamic Cooperation for Insurance of Investment and Export Credit, a subsidiary of the bank, said this in exclusive talks with Online here on Wednesday. He said that Islamic Development Bank has made the investment of eight bn $ during last two decades. Under the proposed programme IDB would provide financial support for uplift of social sector especially poverty alleviation. At present at least 100 projects are going on in collaboration with the bank. In addition to this the bank is playing the role of a bridge between the European markets and Pakistani exporters (TFD)

AKD Quotidian about — Average CPI at 10.8% YoY in 7MFY12

Karachi: According to the latest data released by SBP, CPI in Jan’12 has clocked in at 10.10%YoY / 1.54%MoM, slightly lower than AKD Securities’ expectation of 10.50%YoY.

According to AKD Securities, as a result, 7MFY12 average CPI has registered at 10.78%YoY which is more than 100bps lower than the Discount Rate at 12%. MoM rise in inflationary pressures has come on the back of increase in Food inflation (34.83% weight in CPI basket; +9.3%YoY/1.56%M0M) and increase in Housing and Utilities (29.4% weight in basket; +7.67%YoY/2.27%MoM), due to systemic transmission of the recent gas price hike. At the same time, Core/NFNE inflation for Jan’12 was recorded at 10.2%YoY vs. 10.1%YoY in Dec’11. While risks to the external side persist, AKD Securities believes better than expected inflation data should alleviate recent market concerns over a hawkish SBP stance. In this regard, assuming a sequential CPI increase of 1.2%MoM going forward, full-year FYI2F CPI will average 11.4%YoY which should provide the SBP space to cut the Discount Rate by 50 bps in the next MPS. However, the macroeconomic risk profile implies monetary easing may not persist beyond Feb’12.

Inflation projections: CPI rose by 1.54%MoM in Jan’12 on the back of 1) 1.56%MoM increase in Food inflation (led by chicken, eggs and spices) and 2) 2.27%MoM increase in Housing and other Utilities mainly due to the gas price hike. As a result 7MFY12 average CPI has registered at 1078%YoY. Note that weekly CPI data suggested monthly inflation in Jan’12 rose by 1.9%. While domestic food inflation could remain contained on the back of 1) expected bumper wheat crop and 2) surplus sugar stock, risks to broader inflationary pressures remain e.g. populist decision making (increase in crop support prices) coupled with PKR weakness. Nevertheless, even if CPI increases at a relatively high rate of 1.2%MoM, full-year FY12F CPI will average 11.4%.

Interest rate outlook: With 7MFY12 average CPI at 10.78%YoY and average FY12F CPI unlikely to exceed 11.4%, AKD Securities believes the SBP has room to cut the DR by 50bps to 11.5% in the Feb 11’12 monetary policy announcement. While the recent SBP report (The State of Pakistan’s Economy 1QFY12) pointedly refers to external account weakness, AKD Securities believes +ve real interest rates coupled with lacklustre private sector credit off take may yet tilt the balance in favour of easing. Going forward, however, the macroeconomic risk profile implies monetary easing may not persist beyond the current month, although materialization of anticipated foreign flows (~US$2.5bn from CSF/Etisalat/3G) would be a key swing factor.