economic direction of the country positive: finmin pak ... · international saturday portfolio...

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Saturday

Portfolio Investment

FIPI (04-Apr-2014)

Local Companies (04-Apr-2014)

Banks / DFI (04-Apr-2014)

Mutual Funds (04-Apr-2014)

NBFC (04-Apr-2014)

Local Investors (04-Apr-2014)

Other Organization (04-Apr-2014)

(U.S $ in million)

NCCPL

Forex Reserves (28-Mar-14)

Inflation CPI% (Jul 13-Mar-14)

Exports (Jul 13-Feb-14)

Imports (Jul 13-Feb-14)

Trade Balance (Jul 13-Feb-14)

Current A/C (Jul 13- Feb-14)

Remittances (Jul 13 - Feb 14)

Foreign Invest (Jul 13 - Feb 14)

Revenue (Jul 13 - Mar 14)

Foreign Debt (Dec 13)

Domestic Debt (Feb 14)

Repatriated Profit (Jul 13-Feb 14)

LSM Growth (Jan 14)

GDP Growth FY12EPer Capita Income FY11Population

$9.864bn

8.64%

$16.87bn

$29.41bn

$(12.54)bn

$(2020)mn

$10.25bn

$660mn

Rs 1570bn

$59.38bn

Rs 10,820bn

$548mn

2.58%

3.60%

$1,254

186.23mn

Economic Indicators

Index Close Change

KSE 100 28,408.03 71.67

Nikkei 225 15,063.77 8.11

Hang Seng 22,510.08 (55.00)

Sensex 30 22,359.50 149.57

ADX 4,923.47 31.65

SSE COMP. 2,058.83 15.13

FTSE 100 6,702.65 53.51

*Dow Jones 16,615.26 42.71

*Last Updated 20:00 PST

Global Indices

*Crude Oil (brent)$/bbl 106.80 *Crude Oil (WTI)$/bbl 101.35 *Cotton $/lb 92.60 *Gold $/ozs 1,298.63 *Silver $/ozs 20.11 Malaysian Palm $ 790 *GOLD (PMEX) PKR 41,406 KHI Cotton 40Kg PKR 7,020 *Last Updated 20:00 PST

GDR update

Commodities

Symbols

MCB (1 GDR= 2 Shares)

OGDC (1 GDR= 10 Shares)

UBL (1 GDR= 4 Shares)

LUCK (1 GDR= 2 Shares)

HUBC (1 GDR= 25 Shares)

$.Price

5.00

25.24

2.50

6.00

13.75

PKR/Shares

245.14

247.49

61.29

294.17

53.93

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 (1 Yr)

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)

02-Apr-2014

02-Apr-2014

02-Apr-2014

16-Mar-2014

04-Apr-2014

04-Apr-2014

04-Apr-2014

04-Apr-2014

04-Apr-2014

04-Apr-2014

04-Apr-2014

04-Apr-2014

04-Apr-2014

04-Apr-2014

04-Apr-2014

9.96%

9.98%

9.99%

10.00%

10.40%

10.17%

10.18%

10.42%

10.45%

12.01%

12.50%

12.86%

13.10%

13.15%

13.25%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 91.85 92.10

Canadian $ 90.10 90.35

Danish Krone 18.10 18.25

Euro 136.50 136.75

Hong Kong $ 12.60 12.75

Japanese Yen 0.970 1.000

Saudi Riyal 26.65 26.90

Singapore $ 78.25 78.50

Swedish Korona 15.10 15.25

Swiss Franc 111.25 111.50

U.A.E Dirham 27.30 27.55

UK Pound 165.35 165.60

US $ 100.00 100.25

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 90.27 90.46 Canadian $ 88.58 88.76 Danish Krone 17.95 17.98 Euro 133.96 134.23 Hong Kong $ 12.59 12.62 Japanese Yen 0.944 0.946 Saudi Riyal 26.05 26.10 Singapore $ 77.31 77.46 Swedish Korona 14.94 14.98 Swiss Franc 109.52 109.74 U.A.E Dirham 26.60 26.65 UK Pound 162.06 162.40 US $ 98.06 98.24

Inter-Bank Currency Rates

Cities Max-Temp Min-Temp

Islamabad 27°C 14°C Karachi 35°C 22°C Lahore 30°C 15°C Faisalabad 30°C 17°C Quetta 25°C 08°C Rawalpindi 27°C 11°C

Weather Forecast

Yearly(Jul, 2014 up to 28-Mar-2014)

Monthly(Mar, 2014 up to 28-Mar-2014)

Daily (28-Mar-2014)

Total Portfolio Invest (21-Mar-2014)

93.69

-19.23

-1.19

4,823

SCRA(U.S $ in million)

5.34

1.32

-1.31

-1.43

0.01

-2.89

-1.05

#2: 3112 foreign nationals arrested in a year

#3: Late profit-taking clips KSE rally

#4: EDITORIAL: Imran to come forward in cricket

#5: 'Made in Pakistan' draws huge crowd in Mumbai

#8: 60 banned outfits under watch

Inside Pages:

Simultaneously published from Karachi and Lahore

April 5, 2014

Jamadi-us-Sani 4

Vol#7 Issue# 203

Pages 8 Rs12

KARACHI EDITION

No blackmail, willNo blackmail, will

dissolve PA ifdissolve PA if

necessary: Imrannecessary: Imran

ISLAMABAD: Federal Minister forFinance, Ishaq Dar has said that forthe first time in seven years, Pakistanwas intending to issue Eurobondsworth of US$ 500 million in theinternational market.

Talking to BBC, he said that he wasnow visiting UK, Middle East andUnited States for this purpose and byMonday, hopefully the governmentwould announce to issue Eurobondsof $500 million at the initial stage.

He said Pakistan' foreign policywas clear as it is not in favor of aidand the government was developing

bilateral relations with all countrieson the basis of trade, investment andsovereignty.

"We are working on agenda of four`Es' that is Economy, Energy,Education development and eliminat-ing Extremism", he remarked.

The Finance Minister said "we willalso start economic dialogues withUS along with the strategic dialogue,which are very necessary".

He made it clear that CoalitionSupport Fund (CSF) was not an aidbut was in return to Pakistan's servic-es for war against terrorism.

Dr hoped that the CSF's remainingdues were expected to be cleared dur-ing his visit to the US.

Replying to a question regardingPreferential Trade agreement withUS, he said "Trade is our priority andwe always say trade but not aid".

Finance Minister Senator IshaqDar, in an interview with JamieRobertson for Business Edition onBBC World News Friday said theeconomic direction of the Country ispositive; the multilateral donors haveplaced more confidence on Pakistan;

See # 1 Page 7

Pak intends to issue$500mn Euro Bondsin Intl market: Dar

Economic direction of the country positive: FinMin

ISLAMABAD: The anti-terrorismcourt in Islamabad, which was hearingthe judges' detention case against for-mer military dictator Gen (Retd) PervezMusharraf, ordered him to appear inperson at its next hearing.

The court moreover directedMusharraf's guarantors to ensure the

former president's production in its nexthearing.

During the hearing, Musharraf's coun-sel presented the ex-army strongman'smedical report and said he could notappear in court due to security reasons.

The court accepted Musharraf's See # 5 Page 7

Mush summoned injudges' detention case

Guest is all set to depart: Babar

GARHI KHUDA BAKSH: FormerPresident and Co-chairman Asif AliZardari recalled that his governmentagreements with China, US and otherInternational level projects, the presentrulers now enjoying its benefits butenergy crises in country still prevails.

Addressing a public gathering on theeve of 35th death anniversary of

founder PPP Shaheed Zuflfikar AliBhutto, PPP Co-chairman Asif AliZardari paid rich tribunes to the Z. ABhutto and Benazir Bhutto over sacri-fices for the countrymen and nevercompromise with the dictators, He alsoeulogized Bilawal over leading the car-avan of Bhutto legacy.

See # 4 Page 7

Zardari recalls pactwith China, US

Bilawal flays dialogue, privatization

ISLAMABAD: Chief of the ArmyStaff General Raheel Sharif called onPrime Minister Muhammad NawazSharif at the PM House here on Fridayand discussed matters relating tonational security.

Interior Minister Ch. Nisar Ali Khan,Special Assistant to PM Tariq Fatemiand Director General ISI Lt. GeneralZaheer ul Islam attended the meeting.

Earlier, Chief of the Air staff, AirChief Marshal Tahir Rafique called onthe Prime Minister Muhammad NawazSharif.

Professional matters pertaining toPakistan Air Force were discussed dur-ing the meeting.

Meanwhile, a high level meetingreviewed security situation, talks with

See # 3 Page 7

Security issues, regionalsituation reviewed

COAS, Air chief call on PM

TEHRAN: An al-Qaida-affiliatedmilitant group operating in a lawlessfrontier area along the Pakistan-Iranborder has released Iranian borderguards abducted two months ago.

Friday's report by the Fars news

agency quotes an unnamed official assaying the guards were handed over toIranian officials in Pakistan. It did notelaborate. In February, the Jaish al-Adlgroup abducted five Iranian guardsoutside Sarbaz, a town in Iran's restive

Sistan-Baluchistan province near theborder with Pakistan. The guards werereportedly taken to Pakistan.

A local official said last month thatone of those abducted was killed. -Online

Abducted Iranian guards released

ISLAMABAD: The Ministry ofFinance, Revenue, Economic Affairs,Statistics and Privatization on Fridayinformed the National Assembly thatthe government was taking steps to pro-mote Islamic Banking in the country.

In a written reply to NationalAssembly the ministry said that current-ly there are number of institutionswhich are providing training in Islamicbanking and financing.

The National Institute of Banking andFinance (NIBAF), a subsidiary of SPBwas offering a comprehensive IslamicBanking Certification Course (IBCC).

Renewed Shariah scholars are includ-ed in the faculty of the institutes. So far,26 batches have passed the IBCC.

The Institute of Banking in Pakistan(IBP) also offers Islamic banking cours-es from time to time. There are number

See # 2 Page 7

Govt taking stepsto promote Islamicbanking: NA told

ISLAMABAD: PPP Chairman Bilawal Bhutto Zardari addressing the gathering on the occa-

sion of 35th death anniversary of Shaheed Zulfikar Ali Bhutto at Ghari Khuda Bux.-APP

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Email: editor@ thefinancialdaily.com

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See Page# 8

SBP issues framework for IBIs

Govt may release 100more Taliban prisoners

ISLAMABAD: Government may release more militants to continue the processof releasing of more Taliban as a trust building measure.

A high-level meeting, presided over by Prime Minister Nawaz Sharif held onFriday, discussed Taliban's demands, a day after 16 non-combatants were releasedby the government.

See # 6 1

2 Saturday, April 5, 2014NATIONAL

ISLAMABAD: President Mamnoon Hussain exchanging views with Eduardo Antonio Zuain, the Secretary

Foreign Affairs of Argentine, during a meeting here at the Aiwan-e-Sadr on Friday.--APP

President Mamnoon Hussain hascalled for concerted efforts byPakistan and Argentine to explorenew ways of expanding mutualcooperation, particularly in therealms of economy and trade.

He was speaking to FederalSecretary of Foreign Affairs of theRepublic of Argentina EduardoAntonio Zuainin at the Aiwan-e-Sadr on Friday.

The President said that Pakistanand Argentina enjoy close andfriendly ties, however there exists ahuge potential to further underpinbilateral trade and economic ties.

He underscored the need for fre-

quent bilateral exchanges at variouslevels to realize the true potential oftrade existing between the two coun-tries.

Mamnoon expressed the hope thatthe visit of foreign secretary for theThird Round of Bilateral PoliticalConsultations would be instrumentalin identifying areas of cooperation invarious fields of mutual interest.

The Foreign Secretary said that 63years of relationship between thetwo countries was exemplary as boththe countries have commonality ofviews on various internationalissues.

He said that Argentina was keen to

further enhance and diversify itsrelations with Pakistan in variousfields to the mutual benefit of thepeople of the two countries.

Meanwhile, Senior Minister ofBalochistan Sardar Sanaullah KhanZehri also called on PresidentMamnoon Hussain on Friday.

Overall situation in Balochistancame under discussion during themeeting.

The President reiterated firmcommitment of the governmenttowards socio-economic develop-ment of Balochistan and resolutionof grievances of the people of theprovince.--NNI

President for tappingtrue trade potential

with Argentine

KARACHI: GovernorSindh Dr Isharatul Ebadhas directed to arrange traf-fic routes and identifyschemes of roads, under-passes and flyovers under acomprehensive master planto ensure free flow of traf-fic in coastal localities ofthe metropolis.

He was chairing a high-level meeting to reviewsteps aimed at ensuringfree flow of traffic inClifton, Defence and otherareas adjacent to the coastof Karachi here on Friday.

The governor stressedthat future needs of thevehicular traffic in theseareas and requirements andconcerns of all stakeholder,including people travellingtowards recreational spotsmust be kept in mind whileenvisaging master plan.

Emphasizing close coor-dination among all munici-pal authorities and otherdepartments concerned inthis regard, the governorsaid that traffic routes andancillary facilities arerequired to be in harmony

with proposed high densityzone plan.

He also stressed thatinternal roads of residentialareas should be kept free ofunnecessary pressure oftraffic.

Station CommanderBrigadier Farukh,Commissioner KarachiShoaib Siddiqui, PrincipalSecretary MuhammadHussain Syed, officials ofKMC, Defence HousingAuthority andCantonment Board attend-ed the meeting.--APP

Ebad calls for comprehensive

traffic plan

SLF, USAIDinitiate project

to conservesnow leopards

in ChitralCHITRAL: The SnowLeopard Foundation (SLF)with the assistance ofUSAID-Small GrantAmbassador's FundProgram (SGAFP) has ini-tiated a project to conservesnow leopard and helpcommunities sharing frag-ile eco-systems with snowleopard and other carni-vores.

The project "SnowLeopard Conservation"through practical measureshas launched in six villagesincluding Mori Payeen,Barghuzi, Koghuzi, KujuPayeen, Bokhtuli andParsan, an official of SLFsaid.

Under the USAID-SGAFP project, SLFChitral has helped commu-nities in construction ofpredator's proof corral,training community work-ers in animal husbandry,livestock vaccination andproviding environmentaleducation to studentthrough the establishmentof students Nature Clubs.

The predator proof corralwill provide safe shelter forthe livestock of the herderfamilies which were proneto attacks of snow leopardand other carnivores andwould also help controlretaliatory killing of pre-cious wildlife species. -APP

IDGfounder

McGoverndies

KARACHI: IDG Founder,Chairman and world-renowned philanthropistPatrick J McGovern passedaway on the night of 19thMarch 2014 at StanfordHospital in Palo of causesunknown.

McGovern will be knownfor founding theInternational Data Groupthat began with the IDC In1964 initially to providethe industry with timelystatistics on informationtechnology markets.

Three years later,McGovern launchedComputerworld. RegionalManaging Director andPublisher of IDG productsin Pakistan, Afghanistanand Tajikistan, SalainaHaroon, sad "McGovern'sreligious commitment tobringing buyers and sellerstogether in the global con-text earned him the reputa-tion of being called an ICTvisionary. He firmlybelieved in 'Thinking glob-ally' and 'Acting locally,'and it is what has kept theIDG brand profile fromstronger. Pakistan hasgained a lot of ground eversince the parent companycame home. Here's hopingwe all here at IDG inPakistan be able to keepMcGovern's vision for IDGalive." -PR

LAHORE: A two-mem-ber Asian DevelopmentBank (ADB) Fact-FindingMission on Friday calledon LCCI President SohailLashari and discussed indetail the trade and trans-port constraints in CentralAsia Regional EconomicCooperation (CAREC)countries.

The ADB Mission, com-prising Adrian Sammonsand Aamer Ali, had over anhour meeting with SohailLashari to identify impedi-ments to trade flowsbetween Pakistan and otherCAREC countries. LCCIVice President KashifAnwar and ChairmanLCCI Committee onLogistics MuhammadAnwar were also present inthe meeting.

The Central AsiaRegional EconomicCooperation, or CARECProgramme is a partner-ship of 10 countries

(Afghanistan, Azerbaijan,Kazakhstan, KyrgyzRepublic, Mongolia,Pakistan, People'sRepublic of China,Tajikistan, Turkmenistanand Uzbekistan), supportedby 6 multilateral institu-tions, working together topromote developmentthrough cooperation, lead-ing to accelerated growthand poverty reduction.

Adrian Sammonsinformed the LCCIPresident that the ADBReport on transport con-straints in Central AsiaRegional EconomicCooperation (CAREC)countries would be pre-sented to the governmentby the end of May 2014.

He said that ongoingglobalization has imposedchallenges on the CentralAsia Regional EconomicCooperation (CAREC)countries because of cur-rent transport and trade

constraints. Thus, a trans-port facilitation strategywas critical to sustain eco-nomic prosperity in thisregion.

He said that the reportbeing prepared by the AsianDevelopment Bank wouldbe highlighting all the con-straints coming in the wayof trade facilitation as theprocess of consultation ini-tiated by the Bank wouldhelp bring to the limelightall the challenges.

Adrian Sammons saidthat the mission had a num-ber of meetings with thestakeholders working withthe Central Asian Estates.

Speaking on the occa-sion, the LCCI Presidentinformed the ADB mis-sion that all the CARECcountries has huge poten-tial to emerge as a centerof trade and commerce,achieve higher levels ofeconomic growth, andreduce poverty. -NNI

ADB mission highlightsimpediments in Pak-CAREC states trade

Pakistan,India needto promote'slogan-free'

politics:

Mushahid ISLAMABAD: ChairmanSenate StandingCommittee on DefenceSenator Mushahid HussainSyed has said that Pakistanand India should promote'slogan-free' politics tostrengthen bilateral ties.

He expressed these viewswhile addressing a seminartitled "Next IndianElections and their impacton Pakistan" arranged byNational Assembly'sStanding Committee onForeign Affairs andPakistan Institute ofLegislative developmentand Transparency (PIL-DAT).

Discussing the IndianPolitical scenario,Mushahid said that the roleof regional parties wasincreasing in Indian poli-tics while the new genera-tion was striving for theirrights.

Pakistan and India shouldshow courage in normal-ization of relations which isimportant for both coun-tries as they are nuclearpower, he added.

Describing the stepstaken by Pakistan regard-ing improvement in rela-tions with India, Mishahidsaid that joint efforts wererequired to save the futuresof both countries' genera-tions.--APP

ISLAMABAD: TheExecutive Board Meetingof the NationalAccountability Bureau(NAB) on Friday decidedto file a reference againstDr. Akbar Haider Soomro,Ex-principal SindhMedical College Karachi,and others for misuse ofauthority and cheatingpublic at large.

The decision was takenin the board meeting heldhere at the NABHeadquarters under thechairmanship of QamarZaman Chaudhry, saidspokesman of the NAB.

The accused persons hadadmitted 315 studentsagainst 277 allocatedseats. Thus 38 students

who were not eligible foradmission in the first yearof MBBS, were illegallyadmitted in Sindh MedicalCollege Karachi.

The EBM referred backthe case against M.BAwan, Ex-Senior JointSecretary Ministry ofHousing and Works, andothers to Director GeneralNAB (Rawalpindi) for fur-ther investigation.

In the alleged 746 illegalappointments case whichcaused a huge loss to thenational exchequer.

The EBM also author-ized two inquiries in loandefault cases of Bank ofPunjab (BoP) referred bythe State Bank of Pakistan(SBP). In first case, Ahmed

Humayun Sheikh defaultedon an amount of Rs 64.979million and in second caseAhmed Waheed Malikdefaulted on an amount ofRs 208.88 million of loan,taken from BoP.

The EBM also closedtwo inquiries for want ofprosecutable incrementingevidence against theaccused.

Chairman NAB QamarZaman Chaudhry, on thisoccasion, directed the sen-ior officers to adoptproactive approach forprosecuting the casespromptly and efficientlyand in a very professionalmanner as no one wouldbe spared for undue delayand lethargy.--APP

NAB approves reference against ex-principal SMC

KARACHI: The K-Electric announced onFriday that another mile-stone had been achievedby the company whichwill further help in gener-ating additional units indays to come.

According to a state-ment issued here,National Electric PowerRegulatory Authority(NEPRA) has approvedthe Licensee ProposedModification (LPM)which was sent by KEregarding its coal conver-sion project. This is thefirst such initiative of itskind in Pakistan where thecompany is moving

towards alternate fuel.According to this LPM

application that KE hadsent, 2 units of BQPS-1will be converted fromfurnace oil to coal. Givingdetails the press statementadded that Units 3 and 4of BQPS1 are of 210 MWeach and the two would beleased out to an IPP calledK-Energy, which wasformed by the projectinvestors.

These project investorswill be undertakinginvestment of over $ 350million through whichnew boilers and ancillar-ies will be constructed,along with coal handling

equipment. These will bethen synchronized with K-Electric's leased units.

The statement clarifiedthat the EPC Contract forthis Project had alreadybeen executed with HarbinElectric International,China back in November2013. The LPM approvalis the first major stepwhich shall be followedby tariff approvals fromNEPRA. KE believes inmoving towards alternatesources and cost-effectivegeneration of electricitywhere the end-consumerwould gain maximumbenefits through a cheapertariff.--NNI

NEPRA approves KE's LPM for coal conversion project

KARACHI: Ateeq Ur Rehman with President HBL Nauman K Dar, Aamir Kureshi,

Head of Global Consumer Banking, Saleem Baig, Head of Islamic Banking, and

Mehmood Tareen during ceremony here on Friday.

KARACHI: A major partof the economy depends onagriculture but due to poorand careless harvesting andrough handling of the com-modities, inadequate trans-portation and lack of stor-age and refrigerationplants, the country looses abig portion of grain andvegetable in the post-har-vest.

This was stated byPresident, Federation ofPakistan Chambers ofCommerce and Industry(FPCCI) in his comments

on State Bank of Pakistan'srecent report.

"We should take care ofagriculture sector fromfarming, production, pro-cessing and distribution ofthe commodities," heasserted in his statementhere on Friday.

He said due to post-har-vest losses our country islosing billions of rupeesevery year. He showed hisserious concern over theloss of 7.6 million tonsgrain out of total productionof 34.10 million tons whichbecomes 22.29 percent of

the total production duringfiscal year 2012. The majorreason of this loss is inade-quate storage / refrigerationfacility in the country. TheFPCCI Chief suggested thatthe Government shoulddevise a policy, give incen-tives to the concerned peo-ple and provide special landfor construction of ware-houses.

He also emphasized thatthe government shouldallow duty free import ofrefrigeration plants tosecure the perishable veg-etable and fruits. -APP

FPCCI seeks incentives for warehouses,

refrigeration plants

TDAPplans

exhibitionsin Delhi,Karachi

KARACHI: The TradeDevelopment Authority ofPakistan (TDAP) willarrange ' Life StyleExhibition' in New Delhi inSeptember 2014.

Meanwhile, 'ExpoPakistan' will, also, be heldin Karachi in which realbuyers and investors fromforeign countries would beinvited, said ChiefExecutive Officer TDAP,S.M. Muneer.

He was speaking at a din-ner reception hosted forhim by KorangiAssociation of Trade andIndustry, said a KATIrelease here on Friday.

S.M.Muneer said the con-fidence of the people par-ticularly of industrialistsinto government is increas-ing day by day while for-eign investors besides localones are now showing theirinterest to invest inPakistan.

He said that favourableenvironment plays animportant role in invest-ment and industrialization,law and order situation ofKarachi was, comparative-ly, improving. Rangers andPolice have been playing animportant role for restoringpeace and security in thecity, he added. -APP

ISLAMABAD: As manyas 3112 foreign nationalshave been arrested inSindh, Punjab, KhyberPakhtunkhwa andBalochistan during the lastone year.

This was informed byMinister for Interior and

Narcotics Control ChaudhryNisar Ali Khan in a writtenreply to a question of MNAAisha Syed in NationalAssembly here on Friday.

524 foreign nationalswere arrested in Sindh, 391in Punjab, 2196 in KhyberPakhtunkhwa and one was

arrested in Balochistan.400 Indians, 99 Afghans,

13 Bangladeshis, twoChinese, one Nigerian, oneTanzanian, five Iranians,one Austrian, one fromPhilippines and oneZambian were arrested inSindh. -APP

3112 foreign nationalsarrested in a year

Saturday, April 5, 2014 3

FTSE hit by US data aftertouching three-week high

Hong Kong stock ends down

A rather sideway sessionnoted at the Karachi StockExchange as the benchmarkindex rallied in first halfwhile profit taking reducedgains towards the end.

The benchmark KSE-100index was up by 71.67 pointsto close at 28,408.03 points.KSE All Share Indexincreased by 43.08 points toend at 21,223.18, KSE 30-Index lower by 29.49 pointsto conclude at 20,030.28,whereas KMI 30-Indexdecline by 25.25 points tofinish the day at 46,569.72level.

Samar Iqbal, equity dealer

at Topline Securities afterincreasing over 1200 pointsin last 4 trading sessions,market remained rangedbound though out the day asinvestors preferred to bookprofit. However, indexgained 71 points on closewith the support of PSO andMCB. Cement stocksremained under pressureafter news of expansionsplans of DGKC. LUCK,which has been outperform-ing market in last few ses-sions, fell by 2%, DGKCdeclined 2.7% whereasMLCF dropped by 3%. Onthe other side LPCL wit-

nessed healthy volume of73mn shares after its holdingcompany announced itsplans of divestment.

The advance to declineratio in the broader marketremained in favour of bulls.Out of 373 scrips, 171 scripsadvanced, 177 declinedwhile the value of 25 scripsremained intact.

The ready market volumedecreased by 10.3 per cent to403 million shares as com-pared to 449 million sharestraded on last trading day.

Lafarge Pakistan toppedthe list of actives; higher byRs 0.82 at Rs 12.86 on 73.37

million shares, followed byBank of Punjab surge by Rs0.59 at Rs 11.25 on 45.53million shares, K-ElectricLimited surge by Rs 0.36 atRs 6.88 on 30.09 millionshares.

Other actives were andLotte Chemical surge by Rs0.34 at Rs 7.92 also on23.03 million shares andTRG Pakistan Limiteddown by Rs 0.93 at Rs14.11 on 18.98 millionshares.

According to AhsanMehanti, director at ArifHabib Corporations,Pakistan stocks closed high-

er on renewed foreign inter-est in selected stocks in oiland banking sectors. Traderemained high dominatedby MSCI decision onFrontier Market Index forPakistan's weight raise to8.9%. Expectations forearly announcements on 3Glicence auctions, OGDC gasdiscovery in Ghotki, easingcircular debt concerns fol-lowing NEPRA tariff raiseby 70pc in Karachi, rupeestability, Lafarge cementannouncement for divest-ment evaluation and specu-lations ahead of quarter endearning announcements due

next week played a catalystrole in bullish sentiments atKSE."

The overall market capi-talization up by Rs 9.28 bil-lion to Rs 6.841 trillionagainst Rs 6.831 trillionobserved on last trading day.

Pak Tobacco and IndusMotor Company remainedthe top gainer by Rs 47.65and Rs 21.32 to close at Rs1,466.65 and Rs 447.84respectively, while RafhanMaize and Island Textilewere the major loser whichlost Rs 375 and Rs 45 toclose at Rs 8,225 and Rs 955respectively.

Late profit-taking clips KSE rally

Symbol Close Vol (mn)LPCL 12.86 73.38BOP 11.25 45.54KEL 6.88 30.09LOTCHEM 7.92 23.03TRG 14.11 18.98

Symbol Close ChangePAKT 1,466.65 47.65INDU 447.84 21.32ABOT 444.32 21.09PSEL 346.41 16.49SRVI 492.06 15.09

Symbol Close ChangeRMPL 8,225.00 -375.00

ILTM 955.00 -45.00

SHEZ 850.00 -16.29

MUREB 755.00 -13.79

NESTLE 8,187.50 -12.50

Plus 171Minus 177Unchanged 25

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Opening 28,336.36

Closing 28,408.03

Change 71.67

% Change 0.25

Turnover (mn) 402.95

Opening 5,353.08

Closing 5,410.22

Change 57.14

% Change 1.07

Turnover (mn) 5.59

Opening 4,618.08Closing 4,615.62Change 2.46% Change 0.05Turnover (mn) 0.71

FERTILISER000 tonnesUrea Offtake (Jan to April 13) 1,655

Urea Offtake (April 13) 314

Urea Price (Rs/50 kg) 1,711

DAP Offtake (Jan to April 13) 193

DAP Offtake (April 13) 52

DAP Price (Rs/50 kg) 3,880

AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 12 to May 13) 69,669

Sales (July 12 to May 13) 69,286

Production (May 13) 8,044

Sales (May 13) 7,126

INDUS MOTOR COProduction (July 12 to May 13) 32,679




HONDA ATLAS CARProduction (July 12 to May 13)18,966




BANKING SECTORScheduled bank (Rs in mn)Deposit (June 7,13) 6,866,463

Advances (June 7,13) 3,467,789

Investments (June 7,13) 3,960,321

Spread (April, 13) 6.19%

OIL MARKETING CO(000 tons)MS (July 12 to Apr 13) 2,686

MS (Apr 13) 289

Kerosene (July 12 to Apr 13) 130

Kerosene (Apr 13) 13

JP (July 12 to Apr 13) 604

JP (Apr 13) 68

HSD (July 12 to Apr 13) 5,391

HSD (Apr 13) 619

LDO (July 12 to Apr 13) 32

LDO (Apr 13) 3

Fuel Oil (July 12 to Apr 13) 6,940

Fuel Oil (Apr 13) 675

Others (July 12 to Apr 13) 31

Others (Apr 13) 4

PRICES (Ex Refinery) RsMS (1 Jun 13) 67.88

MS (1 May 13) 65.95

MS % Chg 2.93%

Kerosene (1 Jun 13) 71.34

Kerosene (1 May 13) 71.65

Kerosene % Chg -0.43%

JP-1 (1 Jun 13) 71.60

JP-1 (1 May 13) 71.91

JP-1 % Chg -0.43%

JP-8 (1 Jun 13) 71.34

JP-8 (1 May 13) 71.65

JP-18 % Chg -0.43%

HSD (1 Jun 13) 76.22

HSD (1 May 13) 77.51

HSD % Chg -1.66%

Fuel Oil (1 Jun 13) 62,277

Fuel Oil (1 May 13) 62,431

Sector UpdatesNEW YORK: U.S. stocks

dipped on Friday and theNasdaq fell sharply as weak-ness in momentum stocksweighed on indexes and erasedearlier gains in the wake of theMarch payrolls report.

After appearing to stabilizeearlier in the week, momentumstocks such as biotechs fell fora second straight session. TheNasdaq biotech index .NBI lost2.8 percent. Biogen Idec Inc(BIIB.O) fell 4.3 percent to$288.98.

"You've got some big namesin there. There is a high corre-lation inside of those groups,"said Keith Bliss, senior vice-president at Cuttone & Co inNew York. "Managers tend totrade the entire group asopposed to individual names.So that of course, is hitting theNasdaq and everybody else."

Equities opened higher onoptimism spurred by the non-farm payrolls report, whichshowed jobs rose by 192,000in March, just shy of the200,000 forecast, after rising197,000 in February. Theunemployment rate was

unchanged at 6.7 percent. Witha solid pace of hiring for a sec-ond month, the economyappears to be recovering froma winter slowdown.

"Overall, people are takingthis as a sign there isn't somesort of underlying weakness inthe economy," said KateWarne, investment strategist atEdward Jones in St. Louis.

"It has fit into people's beliefthat most of the weakness wesaw earlier was due to theweather and not somethingreally changing about the econ-omy."

The Dow Jones industrialaverage .DJI was down 8.89points, or 0.05 percent, at16,563.66. The Standard &Poor's 500 Index.SPX wasdown 4.04 points, or 0.21 per-cent, at 1,884.73. The NasdaqComposite Index .IXIC wasdown 59.74 points, or 1.41 per-cent, at 4,178.00.

The S&P earlier touched arecord high of 1897.28, thethird time this week that theindex has set an intradayrecord.

Mylan Inc) rose 4.8 percent

to $52.24 after a report said thecompany was looking toacquire Swedish rival MedaAB. Mylan also sued CelgeneCorp on Thursday to stop thelatter's effort to keep genericversions of two drugs that gen-erate $4.5 billion of annualsales off the market.

Boeing Inc (BA.N) is consid-ering buying Mercury SystemsInc, a supplier of digital signaland image processing systemsto the aerospace and defenseindustry, according to two peo-ple familiar with the matter.Mercury shares gained 3.9 per-cent to $13.75. Boeing inchedup 0.1 percent at $128.91.

CarMax Inc, fell 2.8 percentto $46.25 after the largestretailer of used cars reportedfourth-quarter results.

Halozyme Therapeutics Incplunged 25.4 percent to $8.65after the company said it wastemporarily halting enrolmentof patients and dosing of itscancer drug in a mid-stage trialon patients with pancreaticcancer, after the recommenda-tion of an independent safetycommittee. -Reuters

Wall Street dips as

momentum stocks

drag; Nasdaq slumps

BANGKOK: Most SoutheastAsian stock markets wereflat-to-weaker on Friday asinvestors cashed in on rally-ing markets such asIndonesia and the Philippinesahead of

U.S. jobs data, while Thaishares pared gains amid fearsabout political tension duringa long weekend.

Indonesia was an underper-former after a bout of profit-taking in financials and largecaps while the market's highvaluation was also a concern.

Jakarta's Composite Indexended down 0.7 percent at aone-week low. Shares ofBank Mandiri lost 1.7 per-cent after a nearly 9 percentrally this week when foreigninflows gave a boost to themarket.

The benchmark was up 1.9percent on the week, takingits year-to-date gain to 13.7percent in local currencyterm, among Asia's outper-formers.

A Bank Indonesia surveyshowed Indonesia's con-sumers were more optimisticin March, bolstered byexpectations that the econo-my will improve in the nextsix months.

The Philippine index fell0.4 percent. It jumped 3.2percent on the week,Southeast Asia's best per-former. Foreign investorswere net buyers for an eighthsession, purchasing a net 442million peso ($9.8 million)worth of stocks, data showed.

Thai SET index closednearly flat on the day, up

almost 2 percent on the week.Thai baht underperformed inAsia on rising political ten-sion. Thai market will be shuton Monday for a public holi-day, reopening on Tuesday.

Hundreds of thousands ofThai government supportersare expected to descend onBangkok this weekend in asymbolic show of force aftermonths of sometimes violentprotests aimed at bringingdown Prime MinisterYingluck Shinawatra.

The region was broadlyrangebound on the day asglobal market investors tookto the sidelines ahead ofmonthly U.S. employmentdata, seen as a key variableon the direction of theFederal Reserve's policy. -Reuters

Down in strong

week; Thailand flat

ahead of holiday

Nikkei edgesdown 0.05pc

in directionlesstrade ahead ofUS jobs data

TOKYO: Japan's Nikkei stockindex edged down 0.05 percentFriday as investors hit the side-lines amid a lack of fresh cata-lysts and ahead of key jobs datadue out from the U.S. later in theday.

Local traders said that buyingsentiment diminished on the lasttrading day of the week asinvestors had already locked ingains from the market's threeweek closing high Thursday,with the yen's comparativestrength against the U.S. dollarand shares in the U.S. dippingovernight also contributing to acircumspect mood.

They added that trade was thinand directionless as short andlonger-term positions remainedup in the air ahead of the Bureauof Labor Statistics' releasingemployment data for the U.S.later Friday, but said that hopesremained high for positive num-bers following the ADP's payrolldata, widely seen as precursorfor labor bureau's statistics,showing Thursday that privatesector payrolls increased inMarch.

"Investors just have to wait forthe jobs report. It's all about howU.S. markets react to it," notedYusuke Kuwayama, a portfoliomanager at Tokio Marine &Nichido Fire Insurance Co.

Other strategists said that fol-lowing Japan's consumption taxrising here at the beginning ofthe month from 5 to 8 percent,investors were also in a wait-and-see mood ahead of the cen-tral bank's two-day policy meet-ing starting Monday, to see ifthere were any indications theBank of Japan intends to roll outadditional monetary easingmeasures to underpin the expect-ed fallout from the tax hike.

"Market players are still hold-ing out hope that the central bankwill increase its monetary easingprograms in light of the tax hikeand to provide a floor to the mar-ket," said one Tokyo- based tech-nical analyst.

The Nikkei Stock Averagedropped 8.11 points fromThursday to close at 15,063.77,while the broader Topix indexshed 0.88 point, or 0.07 percentto finish at 1,215.89, bringing itsnine-day winning streak to anend.

Mobile phone service providerSoftbank weighed heavily on theNikkei, slumping 2.7 percent to7,921 yen, while telecommuni-cations firm KDDI retreated 1.9percent to finish at 5, 740 yen.

Information technology,equipment and service providerFujitsu was also among Friday'snotable decliners, dropping 1.9percent to 615 yen, afterGoldman Sachs cut its rating onthe firm's shares from "buy" to"neutral". -Agencies

TORONTO: The Torontostock market climbed highernear midday on Friday afterthe number of Canadian jobscreated last month outper-formed expectations.

The S&P/TSX compositeindex gained 52.10 points to14,454.31.

The Canadian dollar tradedahead 0.58 of a cent at 91.17cents US, after StatisticsCanada said 43,000 net newjobs were added in March.

The added jobs easedCanada's unemployment ratedown one-tenth of a point to6.9 per cent - matching a post-recession low - but most ofthe gains were in part-timepositions and the vast majori-ty of the new jobs went toyoung Canadians.

"I tend to not see that neces-sarily as a great sign for theCanadian economy," saidKevin Headland, director ofthe portfolio advisory group atManulife Asset Managementin an interview.

"It is positive because weare creating jobs, especiallyfor the youth, but not veryhigh quality jobs."

On Wall Street, the DowJones industrials slid 11.81points to 16,560.74, theNasdaq was down 44.44points to 4,193.30 while theS&P 500 index moved downtwo points to 1,886.77.

A separate U.S. jobs reportshowed that Americanemployers added 192,000 jobsin March, which fell slightlyshort of consensus predictionsof about 195,000 and waslower than February.

On the positive side, theemployment growth helpedback up opinions of a recov-ery of the U.S. economy, butmuch of that sentiment wasfuelled by a positive revision

to numbers for January andFebruary. The U.S. unemploy-ment rate was unchanged at6.7 per cent.

The latest U.S. job figuresweren't able to shift percep-tions about where the FederalReserve is headed. During thepast few months, the Fed hasbeen reducing its monetarystimulus amid mounting evi-dence of a sustainable eco-nomic recovery in the U.S.

All in all, the U.S. jobsreport provided "further evi-dence that the economy isrebounding from the chill ofan unusually severe, stormywinter," wrote CIBC WorldMarkets senior economistPeter Buchanan in a note.

Prices for major commodi-ties were higher as oil contin-ued to rise after closing aboveUS$100 a barrel.

May crude contractsadvanced $1.12 to US$101.41a barrel, while the May coppercontract gained 0.7 of a centto US$3.03 a pound whileJune bullion gained US$15.10to US$1,299.70 an ounce.

Shares of Air Canada(TSX:AC.B) climbed nearly23 per cent after the companysaid results for the first quar-ter will be better than itexpected. Improved revenuesand lower costs will helpearnings remain in-line withthe same time last year, theairline said. The new outlookerases a $15 million to $30million shortfall that the com-pany had initially anticipatedin the period. Air Canadastock rose $1.27 to $7.03.European bourses were gener-ally up Friday. London'sFTSE 100 index was ahead0.8 per cent, Frankfurt's DAXadvanced 0.9 per cent and theParis CAC 40 gained 0.9 percent. -Agencies

Toronto stock market

moves higher following

US, Canadian jobs data

LONDON: European shareslooked set to rise for a ninthconsecutive session and recordtheir third straight weekly gainon Friday as traders bet on fur-ther support from U.S. jobsdata due later in the day.

Budget airline Easyjet rose1.3 percent as it reported a 4.8percent increase in passengersin March, in what tradersdescribe as a positive update.

It was among top gainers inthe pan-EuropeanFTSEurofirst 300 index, up 0.1percent at 1,347.22 points at0710 GMT.

The index has risen for eight

consecutive sessions, itslongest winning streak sinceOctober 2013. Then, the indexsurged for nine days, clockingits best run since 2010,Datastream showed.

Non-farm payrolls data dueat 1230 GMT were expected toshow U.S. job growth likelyaccelerated in March as thewinter's gloom started to lift,providing the strongest signalyet that the world's largesteconomy was shifting intohigher gear. "We're prettyupbeat about the payrolls,"Fahran Ahmad, a trader atTradenext, said. -Reuters

European shares

edge higher

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

Imran to comeforward in cricket

After getting unrespectable defeat in T-20 cricket inBangladesh, captain Mohammad Hafeez has resigned from thenational team.Sarfaraz a cricketer known for his fair comments say "Hafeezhas no sense how to lead a side sensibly as he just cares abouthimself and all his decisions speak volumes about his ineffi-ciency. He must follow the example of Sri Lankan skipperMahela Jayewardene, who despite taking his team to the finals,feeling his responsibility for the loss against West Indies, ten-dered his resignation from the T20 captaincy," Now Hafeez has complied with Sarfaraz demand but going for-ward Sarfaraz has also termed Hafeez as the most dishonestcaptain in the history of Pakistan cricket. He said Hafeez com-pletely flopped in handling his players because of his self-styled captaincy, and questioned the exclusion of Abdul Razzaqfrom the squad especially in the crunch semi-final matchagainst Sri Lanka. PCB chairman Najam Sethi says that there was no pressure onHafeez to resign. But to make Hafeez ascape goat for all is notfair. In the past best players of Pakistan have been foundindulged in betting scandals. Management has been foundweak. Selection Committee has remained fond of picking play-ers of their likings. PCB itself has become controversial afterZaka Ashraf and Najam Sethi. So it needs to be totally reshuf-fled. It looks strange that with Hafeez resignation Afridi hasoffered to become captain. Unfortunately he has not beenselected for Caribbean cricket tournament. There were newsthat management and players have differences and most likelyAfridi did not like Hafeez.But now gone is gone and Pakistan and its cricket loving peo-ple has paid lot of cost for such ill doings. Cricket has in factnow become a game of bettors and most of the players havebecome their instruments. It is not the case of Pakistan only butin other countries same stories are going on. Money has lot ofattraction and it is very difficult that with this attraction youcan bring good reforms. Now 2015 world cup is in front of us.Afridi and Hafeez both do not suit for captain. Misbahul Haqis good but he has ageing problem. So in these conditions whenit is very difficult to arrive at some decision it would be betterto handover PCB matters to Imran Khan. Hopefully he wouldcome up with some good decisions.

Surge in KSEPakistan's main stock exchange closed higher on Thursday i.e.April 03, with the benchmark 100-share index of the KarachiStock Exchange rising 1.45 percent, or 404.34 points to28,336.36.Continuous foreign and local fund managers´ support indexkept rising on the 4th consecutive day to close above 28,300points mark for the first time ever.Prevailing positive sentiment over improving economic andexternal fronts kept market in the bullish zone.Oil and Gas Development Co Ltd rose 2.31 percent to 258.99rupees while Pakistan Petroleum Ltd was up 1.94 percent to232.80 rupees. The rupee ended at 98.10/98.15 against the dol-lar compared to Tuesday´s close of 98.10/98.15.Overnight rates in the money market remained close to 10.00percent. Same sentiments prevailed on April 04 with index at28365.20 with change as +28.84. In 5 terms it was + 0.10%Market touched at one point of time 28481.48 with volumeas211,881,320 valuing Rs6,615,944,633 Hence on economic front gift from Saudia and IMF withincrease in remittances are keeping the market sentiments pos-itive. Energy sector and oil exploration area is going to attractsome attention. Inflation also looks to be in control. On politi-cal side investors are not going to give much weight toMusharraf and Taliban controversies. Market herding attitudeif remains positive is a good sign for the government who havetaken tough stand in case of Musharraf at least to give a signalthat they are in favor of rule of law. Other main political par-ties are also looking to be on the same page. This is good forthe economy

New chief of JISirajul Haq, senior minister Khyber-Pakhtunkhwa have beenelected as Ameer Jamaat-e-Islami leader for the next five yearsSirajul Haq belong to KPK city Dir, was born in September 5,1962 and did his MA in Islami Education from the Universityof Punjab. He had elected Nazim-e-Aala (Chief) of JI studentwing Islami Jamiat Tulaba (IJT) twice from 1988-91. He had

also been elected member of KPK Assembly for severaltimes. Munawar Hassan the Current Ameer and LiaquatBaloch were also running for the position. However due to illhandling of Jamaat affairs Munawar Hassan has now beenreplaced. This is also being seen as revival of Qazi HussainAhmad who was considered more pragmatic leader ratherthan Munawar Hassan. That is why Qazi Sahib did not enjoyvery cordial relations with Taliban.

4

Editor-in-Chief: Azfar AsharyEditor: Shakil H Jafri

Executive Editor: Manzar NaqviEditor-at-Large: Muhammad Arif

Honorary Advisory Board

Tariq Iqbal Khan, FCA

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

S. Muneer Hussain Rizvi

Tarique Khan Javed

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat Sabir

Head office

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The Financial Daily International

Saturday, April 5, 2014

Carpet Export

Mohammed Arifeen

Carpet has more than 2,500years of ancient history. TheIranians were amongst the firstcarpet weaver of the age-old civi-lizations and, through centuries ofcreativity and initiative buildingupon the talents of the past,achieved a special degree ofexcellence.

Carpet industry plays a pivotalrole in the economy of Pakistan. Itis not only a substantial foreignexchange earner for the economybut also remove poverty andunemployment particularly in therural areas. It is a small scaleindustry spread all over Pakistan,especially in the far flung ruralareas. It is a source of income fordowntrodden families.This centpercent exportable product pro-vides livelihood to more than onemillion people in the far flungareas of Pakistan.

The carpet manufacturingrequires simple technology. Noheavy equipment and machinery,only wooden looms, yarn, knot-ting skill and simple tools arerequired to make handmade car-pets. The rural families can do thework inside their homes. Femalemembers of the family can alsotake part in this economic activity.

The economic recession that hitthe economy of United States andEurope in 2008 and the changingpreferences of the buyers havedamaged Pakistan carpet exportas well as of India, Iran andTurkey.

Pakistan apioneer exporter oftraditional carpets has witnessedits exportsdown because it refusedto change with the changing mar-ket trends. A large number offirms, especially those operatingout of Karachi, have already goneout of business and above a mil-lion jobs have been lost.

Export of carpets, which was$285 to 300 million just six yearsago, has been continuouslydeclining, standing at $136 mil-lion in 2009-10, $132 million in2010-11 and $120 million in2011-12. Nonstopinflation, worstlaw and order situation, increas-ing utility rates and business loss-es have led to severe liquidityproblems for the industry.

During the past six years handknotted carpet exports are on thedecline due to change in the trendin the United States and theEuropean markets. Even then withall the odds the exporters havefound new markets that compen-sated to some extent.

Currently, there is a no highdegree of domestic market forhandmade carpets, due to highprices. Most of the local buyers ofhandmade carpets are the expatri-ate Pakistanis. The major exportmarkets are USA, Europe, andJapan .The target local marketsare Karachi, Islamabad andLahore based on exporters,wholesalers and retailers.

Pakistani carpets are of higherquality compared to Indian andChinese carpets but their cheaplabor, low cost raw material andlow utility charges, and financingon low rates a price edge overPakistan.

In the past Pakistan exportsgained strength in the global mar-ket as a result of larger utilizationof Afghanistan technology andskills. No doubt Pakistan is stillusing the same technology andskills to survive in theInternational market. About twofifth percent carpets Pakistanexports are weaved inAfghanistan and the war ravagedcountry remains the first choice ofcarpet producers for procuringwool.

Carpet industry was once upon atime one of Afghanistan's flour-ished industries that had made aniche in various internationalmarkets. Carpets were the secondmajor exports of Afghanistan,accounting for 47 percent of thecountry's export earnings in 2002and 2003.

Carpet exports have declined byalmost 80 percent in the past sixyears due to lack of washing andprocessing facilities, inability tocompete with neighboring coun-tries' carpet production and yearsof instability and war.

In the past Pakistan's carpetexporters could use a little helpfrom the government to boosttheir presence in their existingmarkets and diversify into newones.

India has an ancient tradition ofcarpet weaving. It is the world'slargest producer and exporter ofhand-made carpets in terms ofvalue as well as volume. 90 per-cent of the carpets manufacturedin India are exported. Indian car-pets are known worldwide fortheir excellent design and quality.Seven types of hand-made carpetsare produced in the country.Mostof the carpet manufacturing inIndia takes place in the northernpart of the country in the towns ofBhadohi, Agra, Jaipur, Srinagarand Danapur.

In 2012-13, exports of hand-made carpets stood at US$1,074.29 million, registering agrowth of 12.4 per cent over theprevious year. Indian hand-madecarpets are exported to over 100nations and the US accounts forthe largest share. For example,around 40 percent of the totalhand-made carpet exports in2011-12 were to the United States.

The Carpet Export PromotionCouncil is the apex body ofexporters of hand-made carpetsand other floor coverings in India.The Council provides assistanceto exporters by identifying newmarkets, providing financial aid,sponsoring participation in world-wide events, arranging buyer-sell-er meets and resolving trade dis-putes.

Earnings from carpet exportsdeclined 13.64 percent to US$61.01 million in the last fiscalyear 2012-13. According to theTrade and Export PromotionCentre (TEPC), shipments ofhand-knotted woolen carpetsdropped 22.92 percent to 479,277sq. m along with export revenue.

Exporters said that increasedcost of production and tough com-petition in the international mar-ket were the major factors behindthe decline in carpet exports.Carpet exports were affected bygrowing competition from Indianand Chinese products in the mainexport markets.

In 2011-12 Nepal exported621,771 sq m of carpets andearned US $ 70.65 million.United States is the largest buyerof Nepali carpets followed byGermany, the UK, Canada andItaly. According to the TEPC,Nepal exported 194,399 sq m ofcarpets (40.56 percent of the totalexport volume) worth US$ 29.11million to the US. Earnings fromexports to the US amounted to US$ 32.25 in 2011-12 on when Nepalshipped 228,713 sq m of carpets.

Iran produced 59.181 millioncubic meters of machine-madecarpets in the first three quartersof the current calendar year,which started on March21;2013.Iran exported 80 percentof its hand-made carpets to theinternational markets.Hand-madecarpet is an absolute advantagefor Iran.Iran is the leadingexporter of hand- made carpet inthe world."

Hand-made carpet exports cur-rently accounts for 1.2 percent ofIran's total non-oilexports.Persian rugs are highlysought out for their intricatedesign and skilled craftsmanship,and that's why Iran exports car-pets to more than 100 world coun-tries. Carpet-weaving is no doubtone of the most distinguishedchacteristics of the Persian cultureand art, and dates back to ancientPersia.

There is an estimated populationof 1.2 million weavers in Iran pro-ducing carpets for domestic mar-kets and international export.Thecountry produces about 5millionsquare meters of carpets annuallyof which 80 percent are sold ininternational markets.

The United States, Europe(especially Germany and Italy),China, Brazil, South and CentralAfrica, along with neighboringcountries are the most importantmarkets for Iranian made PersianCarpets.

Turkey is the second largestbuyer of Pakistan's hand-knottedcarpets after the United States.Owing to the rapid industrializa-tion and significant increase intourist demand in Turkey over lastfew years the demand for Pakistanhand knotted carpet has increased.Pakistan's carpet trade, likeTurkey, has also suffered enor-mously in the last 5 to 7 years..The domestic production in car-pets has gone down by 50 percent.

Exports of carpets from Turkeyare expected to touch US$ 2.4 bil-lion in 2014, said Istanbul CarpetExporters Association (IHIB)chairman Ibrahim Yilmiz, duringa press conference.

Turkey has exported carpetsworth $2.19 billion in 2013,which makes it the second largestexporter of the product afterChina.According to the IHIBofficial, around 40 percent of theworld's machine-made carpetsare exported from the country,

and the carpet industry believes itcould achieve the export target of$2.4 billion in 2014.

Carpets made in Belgium andthe Netherlands sell for �150 to�200 per sq.ft, whereas Turkishcarpets sell between $5 and $15for the same length, which is oneof the main factors increasing thesales of Turkish carpets.

Nevertheless the Syria crisismay decrease the exports ofTurkish carpets to the MiddleEast, but demand is expected topick up gradually and Turkey'scarpet industry can reach theexport target of $5.5 billion by2023. Last year, the countryexported carpets worth $2.19 bil-lion, indicating a rise of 9.3 per-cent compared to the exports ofcarpets made in 2012.

The Pakistan CarpetManufacturers and ExportersAssociation (PCMEA) has askedthe government to collaboratewith the body on disbursement ofloans through the PrimeMinister's Youth Business LoanScheme.The carpet industry'srepresentative body believes theindustry is best suited for job cre-ation in rural areas, which is theprimary focus of the loanscheme.

Summing up Carpet industry inPakistan facesharshcompetitionfrom Iran, India, China andNepal. Carpet industry needs toimprove quality,lay technologicalfoundations, and strengthen glob-al business operations to generatemore employment opportunitiesand become once again a globalplayer.

Handmade carpet industry is amulti-billion dollar industry thathas great scope to grow. Theproduct already has demand inmany countries of the world,especially in Middle East,Europe, Japan and USA.

The government can train shep-herds in Cholistan in wool farm-ing. It will help boost theirincome. The industry will be ableto procure quality wool locally.Similarly, it can assist the indus-try in getting access to new mar-kets like Brazil, the Philippines,South Korea, Indonesia, etc.

Pakistani carpet exporters havean upper hand over their com-petitors in India, China and Iranbecause of their innovativedesigns, cheaper prices and tech-nology but require the govern-ment to understand the signifi-cance for the economy and ruralpoverty reduction.

Afghan carpets are sold underPakistan's name. AfghanChamber of Commerce andIndustries said more than 90 per-cent of Afghan carpet weaversproduce their carpets in Pakistanwhere the carpets are then sup-plied to international marketsunder Pakistan's name. TheChamber urged the governmentto provide support to the industryand help flourish carpet businessof Afghans working in Pakistan..

There still is large demand forcarpets in the world markets.Turkey with about 31milliontourists visiting for example canprove to be a big market forPakistan.

China economy on track: ADBChina's economy may still grow

around 7.5 percent this year despitesigns of a slowdown, and there isno immediate need for the govern-ment to roll out fresh stimulusmeasures, Asian DevelopmentBank (ADB) President TakehikoNakao says .

Nakao, former Japanese vicefinance minister for internationalaffairs, told Reuters he expectsChina's economic growth to be stillroughly in line with the govern-ment's target.

ADB is revising its forecast onChina's growth for 2014, currentlyat 7.5 percent, he said, but did notelaborate.

Chinese leaders face a challengeto keep the economy on an evenkeel while forging ahead with along list of market-based reformsannounced at a key party meeting

late last year, he said.He said that some short-term

stimulus might be needed tosmooth out ups and downs in theeconomy, but there was no immedi-ate need as growth remains healthydue to the country's ongoing urban-ization and rising consumption.

"At this moment, I don't thinkChina needs to resort to a stimuluspackage," he said.

"Our judgment of China's eco-nomic growth is that it will contin-ue to grow at the rate of around 7.5percent."

Concerns about the health of theChinese economy are mountingafter a string of data showedgrowth is faltering, raising doubtover the fulfillment of the growthtarget in the absence of fresh stim-ulus measures.

Activity in China's factories

slowed for a fifth straight month inMarch, a preliminary private sur-vey showed on Monday, raisingmarket expectations of governmentstimulus to arrest a loss of momen-tum in the world's second-largesteconomy this year.

Nakao said he was impressed byChinese leaders' commitment tomarket-oriented reforms to helpput the economy on a more sus-tainable footing, but they neededtime to implement them.

Liberalizing interest rates and thecurrency regime in China should"go hand in hand", and interest rateliberalization could be carried outin a step by step manner to wardoff possible banking risks, he said.

He said Asian economies weremore prepared to cope with anyeconomic turbulence and theregion's fundamentals were much

stronger than there were during theAsian financial crisis in the late1990s.

"They are more prepared to takeaction quickly if there are signs ofinstability," he said.

"Fragility? I don't buy that idea.Of course, we cannot be compla-cent, we should always be pre-pared."

Japan's monetary policy easing,which has supported the econo-my and boosted the country'sforeign direct investment flowsto the rest of Asia, could helpoffset any impact from the with-drawal of U.S. monetary stimu-lus, Nakao said.

Nakao was named ADB chiefin April 2013, replacingHaruhiko Kuroda, who becameBank of Japan governor.(Courtesy Reuters)

5Saturday, April 5, 2014

CAR PRICESTOYOTA Prices

Corolla Xli 1,568,000

Corolla Gli 1,704,000

Corolla Gli Limited 1,729,000

Corolla Gli A/T 1,885,000

Altis M/T 1.6 1,949,000

Altis M/T 1.6 SR 2,049,000

Altis A/T 1.6 2,049,000

Altis A/T 1.6 SR 2,139,000

Corolla 2.OD 1,871,000

Altis Sportivo M/T 2,076,000

Altis Sportivo A/T 2,177,000

Vigo 4x4 standard 3,000,000

Vigo champ G A/T 3,529,000

Vigo champ V M/T 3,328,000

Fortuner 5,742,000

Camry

Camry A/T Up-Spec 10,749,000

LAND CRUISER

200 GX Turbo SW M/T 20,199,000

200 VX Turbo SW A/T 23,399,000

200 VX A/TA/T SW-Petrol 23,649,000

Hard Top STD 11,299,000

Hard Top A/C, Clock 11,499,000

Hard Top LWB A/C 12,299,000

Pick-up LWB with A/C, Radio8,149,000

Prado

Prado VX A/T Petrol 19,149,000

Prado Turbo A/T 19,149,000

Prado Turbo M/T 13,749,000

DAIHATSU

Cuore CX 844,000

Cuore CX A/T 894,000

Cuore CX CNG 894,000

Cuore Ecomatic 935,000

Terios 1.5L M/T 2WD 2,750,900

Terios 1.5l A/T 4WD 3,076,000

Terios 1.5LA/T 2WD 3,076,000

HONDA

City

City Aspire 1.3L M/T 1,528,000

City Aspire 1.3LA/T 1,669,000

CiViC

i-VTEC M/T 2,021,000

i-VTEC Prosmatec 2,142,000

Vti Oriel M/T 2,253,000

Vti Oriel Prosmatec 2,374,000

ACCORD

Accord (new shape) 10,650,000

CR-V 2.4L 7,900,000

SUZUKI

Mehran 595,000

Mehran VX euro2 610,000

Mehran s VXR euro 2 668,000

Bolan VX euro 2 690,000

Cargo van euro 2 666,000

Suzuki Ravi 637,000

Alto VXR Petrol 747,000

Alto VXR CNG 831,000

Cultus VXRi 955,000

Cultus VXR Efi 955,000

Cultus VXR Euro2 1,029,000

Cultus VXR Efi CNG 1,025,000

Swift 1.3 DX 1,211,000

Swift 1.3DLX 1,282,000

Swift 1.3DLX Navigation 1,340,000

Swift Automatic 1,428,000

Swift A/T Navigation 1,476,000

Liana 1.3L RXI M/T 1,465,000

Liana 1.3L RXI M/T CNG 1,544,000

APV 1.5L GLX M/T Petrol 2,218,000

APV 1.5L GLX M/T CNG 2,318,000

Jimny JLSX M/T 2,142,000

Jimny JLDX M/T 2,293,000

CELL PRICESBrand Prices

SamsungGalaxy Note 3 69,999Galaxy S4 I9500 62,000Galaxy note 2 56,000Galaxy S4 Zoom 57,000Galaxy mega 6.3 52,000Galaxy s4 mini 47,900Galaxy S3 I9300 42,000Galaxy mega 5.8 42,500Galaxy grand I9082 35,900Galaxy S3 mini 33,500Galaxy S2 plus 31,999Galaxy Core I8260 24,500Galaxy S DUOS 21,000Galaxy Ace S6802 19,500Galaxy Fame S6810 21,000Galaxy Y DUOS S6102 14,500Galaxy y S5360 12,000

NOKIALumia 1520 74,900Lumia 1020 69,900Lumia 925 53,900Lumia 920 38,000808 Pureview 49,900Lumia 900 49,700Lumia 820 35,000Lumia 800 39,900Lumia 720 27,600Lumia 710 26,000Lumia 620 24,800Lumia 625 29,950Lumia 520 17,200Nokia 515 16,600Lumia 510 15,300Asha 303 12,950Asha 311 11,700Asha 302 10,900Asha 310 8,900Asha 308 8,750Asha 309 8,750Asha 501 9,700Asha 210 7,800Asha 200 7,550

SONYXperia Z1 Compact 64,000Xperia Z1 61,000Xperia ZL 47,500Xperia Z 42,999Xperia TX 34,000Xperia SP 29,999Xperia Ion 32,000Xperia SL 33,000Xperia V 31,500Xperia T 29,999Xperia S 31,500Xperia L 22,999Xperia P 22,500Xperia Go 20,499Xperia J 18,000Xperia Sola 17,999Xperia Neo L 18,500Xperia miro 16,000Xperia U 17,000Xperia E dual 15,500Xperia Tipo Dual 12,500

HTCHtc One 67,000Butterfly 60,000One Mini 56,000ONE X 48,000ONE X 16GB 48,000Desire 600 43,000Sensation XL 41,000ONE S 41,000Desire V 29,800Sensation XE 29,500Desire X 29,000Amaze 4G 25,500ONE V 24,000Radar 21,000ChaCha 19,000Desire C 18,000Wildfire S 14,900Explorer 11,700

Data Compiled by Shabbar Naqvi

An unmatched and incomparableplace in the world is by virtue apart of Pakistan which has fasci-

nating lakes, mighty rivers, rivulets,streams and brooks. Sky scraping moun-tains also aggrandize its scenic beauty.

This part of the world is rich in historyas well as by archaeological point ofview. Albeit, the most important aspectof this region is that it is topographic &strategic placement on the map of theworld. However, the decision-makersare still slumbering in their high officesand they are unlettered about the impor-tance of this region.

From the very first day when aborigi-nals of present Gilgit-Baltistan wrestedtheir freedom from the Dogra rulers in1947 and joined Pakistan by requestingthen Pakistani government to take overthe administration of the self liberatedterritories. In reply to their request, theGovernment of Pakistan sent a represen-tative to take over the administration ofNorthern Areas. As the first Pakistanipolitical agent of Gilgit, SardarMohammad Alam took over the chargeon 17th Nov 1947. It is the tale of woethat from the very first day the centralgovernment destined a governing sys-tem of FCR in response to the request ofthe people of N. Areas.

However it remains so for long timeuntil Z.A.Bhutto replaced that adminis-trative system in 1972. It is the matter ofpenitence that the people of these areasare still deprived of their basic rights.They have no representation in both thehouses--the National Assembly and the

Senate. Somehow time to time variousgovernments announced numerousadministrative reform packages but allthose were eponymous packages, whichare not proven more than publicitymotives.

Nevertheless after a protracted ossifi-cation, Zardari government has brokenthe mum and proclaimed to change theprovincial status as well as the name ofN. Areas to Gilgit-Baltistan (G.B.). Thepeople of the area expressed their grati-tude and paid glowing tributes to theZardari government but as previously italso proved a frivolous administrativesystem which was even not applied orexperienced anywhere in the world.

They deliberately kept the systemweak & powerless. Hitherto not a singlestaunch federal government came intopower who ever made serious efforts toentrust the constitutional rights to thepeople of N. Areas. It is truly unfortunatesituation that the people including theirrepresentative are gulled again and againfrom last sixty-seven years and they areconstantly chasing the shadows of their

substantial rights which are yet tobecome materialised.

In the present chaotic situation of thecountry it is required for the holders ofhigh offices to make sagacious and per-fect decisions 'and imprudent stepsought to be avoided which steered thenation towards a great disaster.

In the past rarely fealty compatriotshave given various perfect suggestionsthrough media and other sources that thegovernment should evolve a mechanismwhereby people should be ruled by theirown representatives and not by federally-nominated personalities and bureaucrats'who have already lost their credibility &also discarded by the people.

Moreover, it must be kept in mind thatthe change of name from Deputy ChiefExecutive to chief minister will neverbring solution to the rising problems ofthe people of N. Areas.

As a matter of fact now the people arewell aware about existing political sce-nario of GB and certainly it's very diffi-cult to swindle & deprive them fromtheir basic rights. The area was liberated

from Dogra rule by the local habitantsafter colossal martyrdom and joinedPakistan in the hope of getting fair treat-ment from their fellow citizens but it hadnot yield results according to theirexpectations.

The new reform package announcedby the Zardari government also seemedto be a failure in bringing socio-econom-ic reforms to their society. Indeed, simi-larly the primitive administrative & judi-cial reforms packages are also exploitingthe inhabitants of the region and this sit-uation is exacerbating unrest among thepeople of the area. A large number ofdoctors, engineers & highly educatedpersonals are unemployed and the unem-ployment are increasing bit by bit everyyear; consequently it is a perturbing situ-ation for the eruditions & mentors of theregion that in the near future they wouldperceive a proper solution with the pow-erless administration of the G.B.

It is also a matter of consternation thatrest of the N. Area is completely freefrom private sector organizations exceptfew offices of NGOs can be discerned

functioning therein. In such prevailingsituation the only source of employmentgoes upon the shoulders of governmentbodies. To extricate our people frompresent deformed system it is mandatoryfor the holders of high offices to deliber-ate meticulously upon the proponentsand should hastily be taken prudent stepsin right direction, otherwise, the situationof the area will deteriorate further andbecome out of control, like in the otherparts of the country.

Ultimately, the inference can easily beanticipated that the young generation ofthis area will incline towards the curse ofjuvenile delinquencies and this will be animmense disaster for the region. Thismust be kept in mind that shilly shally sit-uation will push the nation towards a san-guinary upheaval and finally a vehementemancipator will appear in his ultimatepassionate and deliverance the nationfrom present trite administrative system.

(The writer is the Editor PakistanSpecial and can be contacted at

[email protected])

NEED FOR IMMEDIATE RESOLUTION

OF GILGIT-BALTISTAN PROBLEMS

‘Made inPakistan’

draws hugecrowd in

Mumbai KARACHI: The mostpopular Pakistani tradeshow in India, "Made InPakistan," has becomethe centre of attractionfor the people of Mumbaias thousands of visitorsand buyers have throngedthe venue on opening dayof mega event.

"A Festival ofFriendship" is the themeof the 5 day extravaganzathat would have otheractivities including a cat-walk, B2B meetings, etc.besides exhibition ofPakistan made productsfor promotion of variousfamous brands in theIndian market, said astatement of PakistanReadymade GarmentsManufacturers andExporters Association(PRGMEA) receivedhere on Friday.

Chairman PRGMEASZ, Arshad Aziz said thatthe event will prove to bea great success as it washaving visitors more thanexpected while meetingsof exhibitors with theirIndian counterparts werebeing arranged so thatthey could procure long-term export orders espe-cially for the readymadegarments and other fab-rics.

PRGMEA has initiat-ed this venture and istrying to establish thisevent as a regular fea-ture in India as India isa lucrative market forPakistani garments andtextile made-ups, hesaid and added, most ofthe exhibitors remainedbusy in B2C activitiesand their products soldlike hot cakes. -APP

President Barack Obama'splan for overhauling theNational Security Agency'sphone surveillance pro-gram could force carriersto collect and store cus-tomer data that they are notnow legally obliged tokeep, according to U.S.officials.

One complication arisesfrom the popularity of flat-rate or unlimited callingplans, which are used bythe vast majority ofAmericans.

While the FederalC o m m u n i c a t i o n sCommission requiresphone companies to retainfor 18 months records on"toll" or long-distancecalls, the rule's applicationis vague for subscribers ofunlimited phone plansbecause they do not getbilled for individual calls.

That could change if theObama administrationpushes through with a pro-posal to require carriers -instead of the NSA - to col-lect and store phone meta-data, which includes dialednumbers and call lengthsbut not the content of con-versations. Under theadministration's proposal,the phone companieswould be required to turnover the data to the NSA inresponse to a court-approved governmentrequest.

U.S. officials said thecarriers might be forced tocreate new mechanisms toensure that metadata fromflat-rate subscribers couldbe monitored. They saidthese issues will requirefurther discussion betweenthe White House, Congressand industry.

"These are very complexsystems," said one industry

source familiar with datastorage policies. "I doubtthere are companies outthere that have a nice, neat,single database that can tellyou how long records arekept universally."

To great fanfare lastmonth, the Obama admin-istration unveiled a propos-al to end the NSA's bulkcollection of millions ofrecords of phone calls. Butthe announcement glossedover key practical issues inimplementing the new pro-cedures.

The potential gap inrecords for flat-rate sub-scribers, as well as thetelecommunications com-panies' strong opposition toonerous data retentionrequirements, underscoresthe still-fluid nature of theNSA reforms.

"We applaud these pro-posals to end Section 215bulk collection, but feelthat it is critical to get thedetails of this importanteffort right," VerizonCommunications IncGeneral Counsel RandalMilch said in a blog postlast week, referring toSection 215 of the PatriotAct, the law that authorizedthe NSA program.

"At this early point in theprocess, we propose thisbasic principle that shouldguide the effort: thereformed collection

process should not requirecompanies to store data forlonger than, or in formatsthat differ from, what theyalready do for businesspurposes," Milch wrote.

Obama's proposal,whose full details have yetto be formally released, is aresponse to public outcryover revelations by formerNSA contractor EdwardSnowden about the spyagency's bulk collection ofphone records.

A senior Obama admin-istration official said: "Asquestions arise with respectto the proposal, we lookforward to workingthrough them withCongress and relevantstakeholders."

CHANGING BUSI-NESS NEEDS

One former senior U.S.official said that because ofthe growing popularity ofunlimited-calling plans,over the years the NSAprogram ended up collect-ing less and less of themetadata it was legallyauthorized to acquire.

This former official, anda non-government expertwho had access to detailsof the NSA program, saidthat the agency recentlyhad only been collecting25 percent to 33 percentof the total U.S. metadatait was authorized to col-lect. -Reuters

Obama's NSA overhaul may require

phone carriers to store more data

Apple,

Pfizer,

others form

'go slow' US

patent lobby

groupMajor US companiesincluding Ford, Apple andPfizer have formed a lob-bying group aimed atpushing back at somechanges to the patent sys-tem members of Congresshave proposed, sayingthese measures would hin-der protection of valuableinventions.

The group is concernedabout pending legislationaimed at fighting so-called patent assertionentities (PAEs), compa-nies which produce noth-ing but instead buy uppatents and then attemptto extract licensing fees orsue for infringement.

Called the Partnershipfor American Innovation,the group warned thatsteps to stop the PAEscould also hurt truly inno-vative companies.

Companies signing onto the effort so far areApple Inc., DuPont, FordMotor Co., GeneralElectric, IBM Corp,Microsoft Corp and PfizerInc.

"There's a feeling thatthe negative rhetoric isleading to a very anti-patent environment," saidDavid Kappos, director ofthe US Patent andTrademark Office from2009 to 2013, who advis-es the group. He is withthe law firm Cravath,Swaine and Moore, LLP.

In particular, the groupwould oppose efforts tomake software or biotech-nologyunpatentable.

Google, Cisco and othersupporters of efforts tocurb frivolous patent liti-gation from PAEs, oftentermed "patent trolls,"supported a bill that easilypassed the US House ofRepresentatives inDecember. -Reuters

Nest Labs Inc, the makerof smart thermostats thatGoogle Inc acquired for$3.2 billion, called a haltto all sales of its smokealarms on Thursday afterit discovered a possibledefect that could causeusers to turn it off unin-tentionally.

Nest co-founder andChief Executive TonyFaddell said that, under aunique set of circum-stances the alarm's "NestWave" feature, whichallows a user to switchoff the device with awave of the hand, couldbe inadvertently activat-ed.

"We observed a uniquecombination of circum-stances that caused us toquestion whether theNest Wave ... could beunintentionally activated.This could delay an alarmgoing off if there was areal fire," he said. "Thefact that it could evenpotentially happen isextremely important tome and I want to addressit immediately."

He did not specify thatset of circumstances.

Nest will immediatelydisable the Wave feature -one of many innovativedesign elements that has

won the company and itsdevices acclaim - in allsmoke alarms that areWiFi-connected while itworks on a softwareupdate to fix the possibledefect. It said the fix, plusregulatory approvals,could take two to threemonths to complete.

Customers withoutWiFi-connected devicesshould either disable it orreturn it for a full refund,the company added.

Nest halted all sales ofits smoke alarms to pre-vent customers from buy-ing a device that wouldneed an immediate soft-ware patch.

Google announcedplans in January toacquire Nest via its sec-ond largest deal, toexpand into a broaderarray of devices and bringvaluable hardware designexpertise in-house.

Nest gained a large fol-lowing with its first ther-mostat - a round, brushed-metal device with a con-vex screen that displaystemperature and changeshue to match the color ofthe wall it attaches to. Italso tracks usage and usesthat data to automaticallyset heating and coolingtemperatures. -Agenceis

Google's Nesthalts home alarmsystem sales overpossible defect

Abdullah Shah

SALT 183.47 190.00 190.00 183.47 0.00 100

RMPL 8,700.00 8,600.00 8,600.00 8,600.00 -100.00 20

UPFL 8,686.86 8,900.00 8,900.00 8,900.00 213.14 20

WYETH 4,500.00 4,500.00 4,500.00 4,500.00 0.00 20

Symbols Open High Low Close Change Vol

UPTO 100 VOLUME

Saturday, April 5, 20146Volume 402,954,980

Value 11,446,457,428

Trades 92,937

Advanced 170

Declined 177

Unchanged 25

Total 372

Current 21,223.18

High 21,277.82

Low 21,153.43

Change h43.08

Current 28,408.03

High 28,481.48

Low 28,289.40

Change h71.67

Current 20,030.28

High 20,149.84

Low 19,980.72

Change i29.49

Market KSE 100 Index All Share Index KSE 30 Index

Current 46,569.72

High 46,859.00

Low 46,450.49

Change i25.25

KMI 30 IndexSymbols

Technical Analysis Fundamental Highlights

As on Jun 30, 2012

First Fidelity Leasing Modaraba

FFLM closed down -0.07 at 3.82. Volume was 12% below

average and Bollinger Bands were 37% narrower than nor-

mal.

FFLM is currently 10.7% above its 200-period moving aver-

age and is in a downward trend. Volatility is extremely high

when compared to the average volatility over the last 10

periods. Our volume indicators reflect moderate flows of vol-

ume out of FFLM (mildly bearish). Our trend forecasting

oscillators are currently bearish on FFLM.

RSI (14-day) 43.42 Total Assets (Rs in mn) 420.94

MA (10-day) 3.80 Total Equity (Rs in mn) 352.81

MA (100-day) 3.74 Revenue (Rs in mn) 45.37

MA (200-day) 3.42 Interest Expense 0.09

1st Support 3.55 Profit after Taxation 16.97

2nd Support 3.30 EPS 11 (Rs) 0.642

1st Resistance 4.00 Book value / share (Rs) 13.36

2nd Resistance 4.20 PE 13 E (x) 23.88

Pivot 3.75 PBV (x) 0.29


As on Dec 30, 2012

Century Insurance Company Limited

CENI closed up 1.00 at 19.76. Volume was 67% above average and

Bollinger Bands were 26% narrower than normal.

CENI is currently 24.8% above its 200-period moving average and is in

an upward trend. Volatility is extremely high when compared to the aver-

age volatility over the last 10 periods. Our volume indicators reflect mod-

erate flows of volume into CENI (mildly bullish). Our trend forecasting

oscillators are currently bullish on CENI. Our momentum oscillator is

currently indicating that CENI is currently in an overbought condition.

RSI (14-day) 73.73 Total Assets (Rs in mn) 1,612.11

MA (10-day) 17.75 Total Equity (Rs in mn) 1,023.56







Pivot 19.45 PBV (x) 0.88


As on Jun 30, 2012

Taha Spinning Mills Limited

THAS closed down -1.11 at 21.27. Volume was 1,774% above

average (trending) and Bollinger Bands were 27% narrower than

normal.

THAS is currently 96.7% above its 200-period moving average

and is in an upward trend. Volatility is relatively normal as com-

pared to the average volatility over the last 10 periods. Our vol-

ume indicators reflect volume flowing into and out of THAS at a

relatively equal pace. Our trend forecasting oscillators are cur-

rently bullish on THAS.

RSI (14-day) 61.18 Total Assets (Rs in mn) 145.01

MA (10-day) 19.06 Total Equity (Rs in mn) (48.56)



1st Support 20.51 Loss after Taxation (17.01)

2nd Support 19.78 EPS 11 (Rs) (4.200)

1st Resistance 22.73 Book value / share (Rs) (11.99)


Pivot 22.00 PBV (x) (1.77)


As on Jun 30, 2012

PICIC Investment Fund

PIF closed up 0.34 at 14.25. Volume was 445% above aver-age (trending) and Bollinger Bands were 33% wider than nor-mal. PIF is currently 21.7% above its 200-period moving averageand is in an upward trend. Volatility is extremely low whencompared to the average volatility over the last 10 periods.Our volume indicators reflect very strong flows of volumeinto PIF (bullish). Our trend forecasting oscillators are cur-rently bullish on PIF. Our momentum oscillator is currentlyindicating that PIF is currently in an overbought condition.

RSI (14-day) 78.84 Total Assets (Rs in mn) 3,541.93

MA (10-day) 13.35 Total Equity (Rs in mn) 3,345.11







Pivot 14.15 PBV (x) 1.21

OIL AND GAS

Attock Petroleum 829 9.85 547.40 548.85 541.64 543.11 -4.29 8,600Attock Refinery 853 5.48 224.05 225.64 222.61 223.57 -0.48 744,100Burshane LPG 226 15.90 38.00 38.70 38.00 38.00 0.00 5,000BYCO Petroleum 9779 - 11.41 11.68 11.33 11.54 0.13 3,912,000Mari Gas Company 919 7.60 221.44 222.47 219.00 219.70 -1.74 173,200National Refinery 800 6.67 235.99 244.79 235.00 240.60 4.61 1,134,200Oil & Gas Development 43009 10.06 259.15 262.33 258.25 259.19 0.04 863,400P.S.OXDXB 2470 8.25 407.66 419.50 410.00 418.37 10.71 3,140,900Pak Oilfields 2365 10.09 553.68 555.50 548.50 550.41 -3.27 37,100Pak Petroleum 19717 8.63 232.15 233.10 231.00 231.50 -0.65 327,900Pak Refinery Limited 350 4.03 138.92 145.86 135.05 141.18 2.26 245,500Shell PakistanSPOT 856 - 270.84 284.38 267.51 284.13 13.29 1,329,500

Paid up

Company Cap(mn) PE Open High Low Close Chg Volume

FOOD PRODUCERS

Abdullah Shah Ghazi Sugar 793 13.64 6.50 6.00 6.00 6.00 -0.50 500Adam Sugar 58 4.66 30.12 30.99 29.66 29.66 -0.46 9,500AL-Noor Sugar 205 - 41.99 40.10 39.90 39.95 -2.04 15,000Chashma Sugar 287 1.55 10.80 10.15 10.15 10.80 0.00 2,000Colony Sugar Mills 990 6.64 8.60 8.70 8.50 8.50 -0.10 18,500Data Agro 40 - 14.22 15.22 14.50 14.55 0.33 12,500Dewan Sugar 365 - 3.78 3.79 3.44 3.55 -0.23 10,000Engro Foods Ltd. 7666 36.04 121.92 123.47 120.50 122.55 0.63 2,006,500Faran Sugar 250 3.72 32.00 32.00 31.99 32.00 0.00 15,500Habib Sugar 750 24.15 34.93 35.50 34.20 34.77 -0.16 33,000Habib-ADM Ltd 200 9.71 32.71 33.65 33.00 33.00 0.29 1,000Haseeb Waqas 324 - 6.96 7.18 6.61 6.96 0.00 6,000J D W Sugar 598 102.72 204.98 212.00 210.00 211.60 6.62 8,500Mehran Sugar 291 4.92 88.80 89.95 88.00 89.80 1.00 10,000Mirpurkhas Sugar 123 7.56 65.08 68.33 68.33 68.33 3.25 1,500Mirza Sugar 141 - 3.20 3.50 3.20 3.30 0.10 46,500National Foods 518 29.49 556.53 560.00 555.00 558.00 1.47 1,100Nestle PakistanSPOT 453 49.06 8200.00 8600.00 8175.00 8187.50 -12.50 1,260Noon Pakistan 52 - 55.99 55.01 55.01 55.01 -0.98 500Noon Sugar 165 3.15 29.04 29.01 28.99 28.99 -0.05 83,500Pangrio Sugar 109 - 3.46 3.72 3.72 3.72 0.26 500Quice Food 522 - 8.15 8.84 8.10 8.56 0.41 5,155,000Shahmurad Sugar 211 8.98 18.99 19.40 19.00 19.03 0.04 5,000Shakarganj Mills 695 4.07 18.50 19.40 18.50 18.70 0.20 67,000Sind Abadgar 104 1.70 11.02 12.02 10.50 12.02 1.00 5,000

Paid up


HOUSEHOLD GOODS

Diamond Ind 90 5.56 17.26 18.24 18.00 18.24 0.98 1,000Hala Enterprise 68 - 22.18 23.28 21.08 21.41 -0.77 419,500Feroze 1888 Mills Limited 3768 23.22 70.12 73.62 73.62 73.62 3.50 500Pak Elektron 2681 31.33 20.03 20.30 19.90 20.05 0.02 1,020,500Singer Pak XR 454 25.27 23.60 23.80 23.00 23.00 -0.60 13,000Tariq Glass Ind 693 16.13 43.91 45.00 42.65 43.55 -0.36 389,000

Paid up


PERSONAL GOODS

(Colony) Thal 56 - 7.53 7.44 7.05 7.28 -0.25 16,000Ali Asghar Textile 222 - 6.69 7.69 5.69 6.99 0.30 11,000Amtex Limited 2594 - 4.06 4.18 3.99 4.02 -0.04 218,500Artistic Denim 840 8.95 76.65 79.90 75.00 75.10 -1.55 8,500Aruj Garments 62 4.69 13.00 13.00 12.50 13.00 0.00 1,000Ashfaq Textile 350 5.61 15.98 15.00 14.98 14.99 -0.99 1,000Azgard Nine 4493 1.36 7.36 7.54 7.35 7.38 0.02 1,561,000Babri Cotton 37 1.72 91.80 91.49 87.75 89.62 -2.18 1,000Bannu Woolen 95 5.15 80.00 79.00 79.00 79.00 -1.00 11,000Bilal Fibres 141 6.21 13.29 14.20 13.30 13.84 0.55 81,500Brothers Textile 98 13.96 10.70 11.00 10.15 10.19 -0.51 34,500Chenab Limited 1150 - 6.15 6.19 6.00 6.07 -0.08 37,500Chenab Ltd Pref 800 - 2.29 2.30 2.22 2.22 -0.07 116,500Colgate Palm 480 44.29 1607.00 1605.00 1600.10 1602.00 -5.00 740Colony Mills Ltd 2442 4.34 5.18 5.35 5.00 5.03 -0.15 798,000Crescent Fibres Ltd 124 1.83 33.50 33.03 31.83 31.83 -1.67 4,000Crescent Jute 238 - 4.42 4.60 4.31 4.43 0.01 67,500Crescent Textile 492 8.44 19.00 19.20 18.76 19.00 0.00 29,500D S Ind Ltd 600 2.59 4.80 4.94 4.65 4.77 -0.03 133,500Dawood Lawrencepur 591 20.72 92.75 94.20 91.50 92.00 -0.75 7,500Dewan Farooque Spinning 978 323.08 4.30 4.30 4.20 4.20 -0.10 37,000Dewan Khalid Textile 57 2.56 12.49 13.28 12.50 12.50 0.01 2,500Dewan Mushtaq Textile 34 13.61 15.65 15.79 15.70 15.79 0.14 1,500Dewan Textile 135 1.85 11.63 11.70 10.71 11.70 0.07 7,000Elahi Cotton 13 15.57 69.94 72.85 72.80 72.85 2.91 1,000Ellcot Spinning 110 2.96 91.00 89.00 88.00 88.00 -3.00 3,000Faisal Spinning 100 3.92 204.27 214.47 194.06 199.30 -4.97 5,900Fateh Sports 20 33.20 26.25 27.56 27.56 27.56 1.31 1,500Gadoon Textile 234 4.94 212.69 214.00 209.00 209.41 -3.28 17,500Ghani Value Glass 188 6.05 20.15 21.15 20.42 21.04 0.89 17,000Gul Ahmed Textile 1828 14.03 49.13 49.39 48.51 48.96 -0.17 64,500H M Ismail 120 - 3.50 3.26 3.26 3.26 -0.24 500Hira Textile Mills Limited 787 7.73 11.68 12.68 11.55 12.45 0.77 595,500Int Knitwear 32 - 13.24 12.99 12.24 12.99 -0.25 1,000Ishaq Textile 97 3.99 28.10 26.70 26.70 26.70 -1.40 2,500Island Textile 5 1.72 1000.00 975.00 955.00 955.00 -45.00 150Janana D Mal 48 1.84 110.50 116.00 114.50 116.00 5.50 1,000Jubilee Spinning 325 38.33 5.40 5.75 5.75 5.75 0.35 1,000Khalid Siraj 107 - 5.00 4.60 4.50 4.50 -0.50 9,500Kohat Textile 208 3.33 17.60 18.00 17.60 18.00 0.40 132,000Kohinoor Ind 303 12.03 3.77 3.97 3.80 3.85 0.08 46,000Kohinoor Mills 509 0.60 16.05 16.99 16.51 16.69 0.64 34,000Kohinoor Textile 2455 8.82 26.24 26.10 25.11 25.50 -0.74 617,500Land Mark Spinning 121 - 7.04 6.05 6.04 6.05 -0.99 2,500Leather Up 60 - 6.63 6.99 6.99 6.99 0.36 1,500Libaas Textile 40 - 17.75 18.69 16.75 18.11 0.36 6,000Maqbool Textile 168 3.28 27.20 27.45 27.00 27.00 -0.20 1,000Masood Textile 600 14.48 138.46 142.00 139.70 141.50 3.04 10,000Mian Textile 221 - 3.75 4.25 4.00 4.00 0.25 4,000Mohd Farooq 189 - 4.42 4.57 4.27 4.42 0.00 60,500National Silk 11 4.66 43.77 45.95 45.95 45.95 2.18 500Nishat (Chunian) 2002 3.79 48.22 48.50 47.71 47.81 -0.41 736,000Nishat Mills 3516 8.27 123.87 124.39 121.70 122.74 -1.13 858,200Olympia Textile 108 - 7.17 7.20 7.20 7.20 0.03 1,000Pak Synthetic 560 77.25 18.00 18.84 17.51 18.54 0.54 7,500Paramount Spinning 174 - 6.73 6.90 6.60 6.90 0.17 1,500Premium Textile 62 2.13 142.55 146.00 146.00 142.55 0.00 200Prosperity 185 2.73 46.08 46.70 46.00 46.00 -0.08 7,500Quetta Textile 130 4.07 48.90 51.00 51.00 51.00 2.10 500Ravi Textile 250 - 4.49 4.59 4.06 4.37 -0.12 39,500Reliance Weaving 308 3.34 43.68 45.86 44.50 45.36 1.68 80,500Ruby Textile 522 - 8.02 8.05 8.05 8.05 0.03 2,500Saif Textile 264 2.12 30.00 30.00 29.99 30.00 0.00 6,000Sajjad Textile 213 2.41 12.60 11.61 11.61 11.61 -0.99 500Salfi Textile 33 1.93 183.47 191.00 180.00 180.00 -3.47 400Sally Textile 88 1.31 26.40 26.25 26.00 26.25 -0.15 8,000Salman Noman 45 - 6.99 7.69 7.69 7.69 0.70 4,000Samin Textile 267 - 13.40 13.48 12.80 13.03 -0.37 11,500Sana Ind 86 9.17 70.05 70.70 70.20 70.70 0.65 3,000Sapphire Fibre 197 277.92 300.67 297.10 291.25 291.82 -8.85 3,500Sapphire Textile 201 3.43 310.00 301.00 301.00 301.00 -9.00 300Saritow Spinning 298 2.32 12.18 12.35 12.05 12.33 0.15 84,000Service Ind 120 46.46 476.97 494.98 479.00 492.06 15.09 9,200Shahtaj Textile 97 7.00 73.40 76.90 74.50 75.97 2.57 5,500Suraj Cotton 218 3.23 129.00 135.00 130.00 132.50 3.50 1,000Taha Spinning 41 9.09 22.38 23.49 21.27 21.27 -1.11 385,000Tata Textile 173 2.99 51.40 51.00 50.10 50.40 -1.00 8,000Thal Ltd 405 10.40 181.14 190.19 183.10 190.19 9.05 287,000Treet Corp 510 33.80 129.04 129.30 127.00 127.07 -1.97 178,000Tri-Star Poly 215 - 2.00 2.19 1.99 2.00 0.00 1,147,000United Brands 108 22.87 64.50 66.10 66.10 66.10 1.60 1,000Yousuf Weaving 400 3.25 4.75 4.75 4.57 4.75 0.00 12,000ZahidJee Textile 490 2.80 16.51 17.25 16.58 16.60 0.09 8,500Zephyr Textile Ltd 594 5.53 10.10 10.45 9.95 9.96 -0.14 13,500Zil Limited 53 333.33 156.75 160.00 155.00 160.00 3.25 3,500

Paid up


CHEMICALS

Agritech Limited 3924 - 11.66 11.88 11.88 11.88 0.22 500Bawany Air 75 2.05 9.67 9.78 9.43 9.74 0.07 10,000Dawood Hercules 4813 258.06 91.60 92.00 90.01 90.32 -1.28 188,500Descon Chemical 1996 - 3.75 3.91 3.75 3.80 0.05 84,500Descon Oxychem Limited 1020 - 7.34 7.39 7.25 7.25 -0.09 359,000Dewan Salman 3663 - 2.60 2.64 2.53 2.57 -0.03 310,500Dynea Pak 94 4.79 44.18 43.98 41.98 42.04 -2.14 217,500Engro Corporation Ltd 5113 19.70 194.45 195.13 191.12 192.62 -1.83 2,449,600Engro Polymer 6635 15.65 15.72 15.93 15.57 15.65 -0.07 514,500Fatima Fertilizer 21000 9.82 31.60 31.70 31.25 31.42 -0.18 2,008,500Fauji Fertilizer 12722 7.84 114.03 114.42 113.30 113.52 -0.51 768,700Fauji Fertilizer Bin Qasim XD 9341 8.31 43.71 43.87 43.50 43.54 -0.17 659,500Ghani Gases Ltd 743 11.19 27.61 27.80 27.01 27.41 -0.20 47,000ICI Pakistan 924 39.56 376.58 384.50 375.07 382.58 6.00 92,500Ittehad Chemical 500 4.93 39.57 40.00 39.05 39.95 0.38 3,500Linde Pakistan Ltd. XD 250 14.53 163.84 160.30 160.11 160.27 -3.57 600Lotte Chemical 15142 13.89 8.26 8.40 7.86 7.92 -0.34 23,034,500Nimir Ind Chemical 553 37.43 18.61 18.67 18.30 18.34 -0.27 55,000Pak PVC SPOT 150 - 5.50 5.50 5.50 5.50 0.00 5,000Shaffi Chemical 120 13.86 3.62 3.88 3.50 3.88 0.26 4,000Sitara Chem Ind 214 5.98 283.22 282.00 280.00 281.30 -1.92 6,000Sitara Peroxide 551 - 16.21 16.35 16.10 16.25 0.04 169,500United Distributors 92 0.85 19.53 20.00 20.00 19.53 0.00 500Wah-Noble 90 5.95 67.55 69.89 69.80 69.85 2.30 4,000

Paid up


FORESTRY AND PAPER

Century Paper 1219 12.14 56.41 56.60 54.60 54.86 -1.55 220,000Pak Paper Product 60 8.00 49.95 51.99 48.10 49.99 0.04 10,500Security Paper 494 8.04 72.93 76.57 73.00 76.57 3.64 58,000

Paid up


INDUSTRIAL METALS AND MINING

Crescent Steel 621 3.87 47.64 48.10 47.75 47.79 0.15 67,500Dost Steels Ltd 675 - 5.26 5.25 5.12 5.20 -0.06 30,500Huffaz Pipe 555 - 23.65 23.01 22.80 22.81 -0.84 28,500Inter.Steel Ltd. 4350 72.67 24.03 24.38 23.91 23.98 -0.05 230,500International Ind 1199 13.10 56.90 57.97 56.75 57.52 0.62 117,000Siddiqsons Tin 785 - 10.50 10.69 10.00 10.41 -0.09 98,000

Paid up


CONSTRUCTION AND MATERIALS

Attock Cement 1145 6.90 147.13 146.00 142.50 143.96 -3.17 27,100Balochistan Glass Ltd 1716 - 8.00 7.99 7.99 7.99 -0.01 2,500Berger Paints 182 34.28 48.32 50.73 48.40 50.73 2.41 85,500Bestway Cement XD 5794 9.42 78.00 80.00 80.00 80.00 2.00 1,500Buxly Paints 14 - 23.10 24.25 24.24 24.25 1.15 8,500Cherat Cement 1051 5.66 75.82 75.60 72.06 72.88 -2.94 704,500Dadabhoy Cement 982 - 6.79 6.93 6.56 6.59 -0.20 73,500Dandot Cement 948 - 12.00 12.15 11.48 11.52 -0.48 14,000Dewan Cement 3891 7.29 9.07 9.05 8.64 8.68 -0.39 3,215,000DG Khan Cement Ltd 4381 6.87 95.02 94.80 91.50 92.45 -2.57 7,510,000EMCO Ind 350 - 4.64 5.14 4.70 5.01 0.37 99,500Fauji Cement XD 13311 11.92 18.37 18.49 17.76 18.00 -0.37 13,360,500Fecto Cement XD 502 3.89 55.25 53.90 52.49 52.60 -2.65 269,500Flying Cement Ltd 1760 - 6.67 6.78 6.50 6.54 -0.13 105,000Frontier Ceramics 77 - 6.50 7.00 7.00 7.00 0.50 1,000Gammon Pak 283 - 4.00 4.40 4.40 4.40 0.40 500Gharibwal Cement 4003 9.92 17.65 17.85 17.10 17.16 -0.49 15,500Haydery Const 32 220.00 2.41 2.47 2.20 2.20 -0.21 19,500Karam Ceramics 145 70.48 15.75 15.00 14.80 14.80 -0.95 3,000Kohat Cement 1545 5.80 117.99 117.90 114.00 114.86 -3.13 708,500Lafarge Pakistan Cement 13126 12.86 12.04 12.95 11.77 12.86 0.82 73,378,500Lucky Cement 3234 12.57 358.02 367.00 350.80 352.42 -5.60 1,395,200Maple Leaf Cement 5277 5.05 30.41 30.50 28.95 29.42 -0.99 17,512,000Pioneer Cement XD 2271 7.10 47.92 48.01 45.53 45.88 -2.04 793,000Safe Mix Concrete 200 25.70 9.51 9.55 9.51 9.51 0.00 2,500Shabbir Tiles 757 15.03 9.60 9.99 9.31 9.77 0.17 71,500

Paid up


GENERAL INDUSTRIALS

Balochistan Particle 30 21.94 6.84 6.85 6.42 6.80 -0.04 10,500Cherat Packagin 275 10.10 66.53 68.50 66.50 67.58 1.05 44,000ECOPACK Ltd 230 - 24.03 23.50 22.83 22.83 -1.20 70,500Ghani Glass 1232 9.24 59.58 62.55 59.75 62.55 2.97 201,500MACPAC Films 389 2.18 21.02 21.50 21.00 21.17 0.15 42,500Merit Pack 403 - 18.13 18.49 18.15 18.17 0.04 43,000Packages Ltd XD 844 13.15 373.76 378.00 372.00 372.92 -0.84 158,700Siemens Engineering 82 - 1304.02 1319.99 1300.00 1305.00 0.98 1,620Tri-Pack Films 300 13.30 199.99 206.50 199.50 200.06 0.07 218,200

Paid up


INDUSTRIAL ENGINEERING

Ados Pak 66 4.64 44.00 43.99 41.80 43.95 -0.05 9,000AL-Ghazi TractorXDXB 290 9.44 202.92 203.00 198.55 200.61 -2.31 43,800Dewan Auto Engineering 214 - 3.85 3.75 3.75 3.75 -0.10 5,500Ghandhara Ind 213 3.67 20.70 21.30 20.50 21.30 0.60 6,000Hinopak Motor 124 198.63 440.00 440.00 432.00 435.00 -5.00 700KSB Pumps 132 8.40 84.20 86.00 83.50 86.00 1.80 6,500Millat Tractors 443 9.82 464.65 465.00 463.10 464.58 -0.07 8,100Pak Engineering 57 - 93.00 89.00 88.50 88.50 -4.50 2,000

Paid up


INDUSTRIAL TRANSPORTATION

Pak Int Container Terminal XD 1092 11.68 275.00 272.00 269.10 272.00 -3.00 1,200PNSC 1321 29.89 79.00 79.00 77.00 78.01 -0.99 9,000

Paid up


AUTOMOBILE AND PARTS

Agriautos Ind 144 8.08 70.80 74.34 71.00 74.27 3.47 179,000Atlas Battery 174 11.28 415.20 415.00 410.00 415.00 -0.20 500Atlas Honda 1034 - 302.00 305.00 301.00 305.00 3.00 200Baluchistan Wheels Ltd 133 13.91 45.20 47.45 47.45 47.45 2.25 500Dewan Motors 1087 - 7.00 6.98 6.75 6.88 -0.12 690,000Exide (PAK) 78 4.99 376.00 377.80 372.00 373.32 -2.68 2,400General Tyre 598 10.65 52.49 53.90 52.40 53.35 0.86 159,500Ghandhara Nissan 450 - 22.01 23.11 21.50 23.01 1.00 326,000Ghani Automobile Ind 200 - 5.58 5.58 5.01 5.32 -0.26 34,500Honda Atlas Cars 1428 684.56 60.15 62.25 58.70 61.61 1.46 1,046,000Indus Motors 786 18.00 426.52 447.84 430.00 447.84 21.32 47,300Pak Suzuki 823 11.48 198.15 204.00 197.00 202.04 3.89 454,500Sazgar Engineering 180 11.09 27.90 28.99 26.80 27.95 0.05 17,000

Paid up


OTHER SECTORS

Pakistan Cables 79.9 83 83 83 3.1 500

TRG Pakistan Ltd. 14.07 15.07 14.02 15.04 0.97 10593000

Murree Brewery 804.2 830 765.05 768.79 -35.41 5600

Shezan Inter 899.58 899 861 866.29 -33.29 1150

Grays of Cambridge 54.7 55.5 55.5 54.7 0 1000

Khyber Tobacco 267.01 280.36 278.5 279 11.99 1000

Pak Tobacco 1352.51 1420 1358 1419 66.49 25100

Shifa Int.Hosp 116.28 122.09 117 118.48 2.2 20600

Media Times Ltd 2.98 2.99 2.92 2.95 -0.03 343000

P.I.A.C.(A) 8.41 8.5 8.28 8.33 -0.08 2171500

Pak Services 314.21 329.92 329.92 329.92 15.71 200

AKD Capital LTD. 70 70 70 70 0 500

Pace (Pak) Ltd. 4.47 4.53 4.37 4.42 -0.05 1225000

Netsol Tech. 36.36 37.5 36.2 36.56 0.2 666500

Symbols Open High Low Close Change Vol

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 71.67 at 28,408.03. Volumewas 107% above average and Bollinger Bands were 5%wider than normal. As far as resistance level is concern,the market will see major 1st resistance level at 28,497and 2nd resistance level at 28,585, while Index will con-tinue to find its 1st support level at 28,304 and 2nd sup-port level at 28,201.KSE 100 INDEX is currently 17.0% above its 200-periodmoving average and is in an upward trend. Volatility ishigh as compared to the average volatility over the last10 periods. Our volume indicators reflect moderate flowsof volume into INDEX (mildly bullish). Our trend forecast-ing oscillators are currently bullish on INDEX. Ourmomentum oscillator is currently indicating that INDEX iscurrently in an overbought condition.

RSI (14-day) 74.66 Support 1 28,304

MA (5-day) 27,880.36 Support 2 28,201

MA (10-day) 27,356.69 Resistance 1 28,497

MA (100-day) 25,945.52 Resistance 2 28,585

MA (200-day) 24,272.15 Pivot 28,393


Fauji Cement Co Ltd

Brokerage House Target Price Recommendations

Technical Outlook

FCCL closed down -0.37 at 18.00. Volume was 21% above

average and Bollinger Bands were 3% narrower than normal.

FCCL is currently 24.8% above its 200-period moving average

and is in an upward trend. Volatility is extremely high when com-

pared to the average volatility over the last 10 periods. Our vol-

ume indicators reflect moderate flows of volume into FCCL

(mildly bullish). Our trend forecasting oscillators are currently

bullish on FCCL.

Arif Habib Ltd 15.8 Hold

TFD Research 17 Neutral

RSI (14-day) 64.97 MTS Shares `000 4,526.700

MA (10-day) 17.43 MTS Rs `000 66,777.01

MA (100-day) 15.56 MTS Rate 12.34

MA (200-day) 14.42 ** NOI Rs (mn) 105.48

Free Float Shares (mn) 732.11 Free Float Rs (mn) 13,178.05

Target price for Dec-13 & **Net open interest in Future market


Pakistan State Oil Co Ltd


Technical Outlook

PSO closed down -34.06 at 418.37. Volume was 51%

above average and Bollinger Bands were 2% narrower

than normal.

PSO is currently 25.9% above its 200-period moving aver-

age and is in an upward trend. Volatility is extremely high

when compared to the average volatility over the last 10

periods. Our volume indicators reflect moderate flows of

volume into PSO (mildly bullish). Our trend forecasting

oscillators are currently bullish on PSO.

Arif Habib Ltd 280.1 Sell

AKD Securities Ltd 339 Neutral

TFD Research 360 Negative

RSI (14-day) 54.27 MTS Shares `000 498.700

MA (10-day) 429.04 MTS Rs `000 172,456.98

MA (100-day) 353.03 MTS Rate 0.00

MA (200-day) 332.35 ** NOI Rs (mn) 777.99




Engro Corporation


Technical Outlook

ENGRO closed down -1.83 at 192.62. Volume was 47% below

average and Bollinger Bands were 39% narrower than normal.

ENGRO is currently 21.9% above its 200-period moving aver-

age and is in an upward trend. Volatility is relatively normal as

compared to the average volatility over the last 10 periods. Our

volume indicators reflect moderate flows of volume into

ENGRO (mildly bullish). Our trend forecasting oscillators are

currently bullish on ENGRO.

Arif Habib Ltd 206 Buy

AKD Securities Ltd 208 Buy



MA (10-day) 188.55 MTS Rs `000 251,894.68

MA (100-day) 171.89 MTS Rate 11.74

MA (200-day) 158.18 ** NOI Rs (mn) 752.21




Adamjee Insurance Co Ltd


Technical Outlook

AICL closed up 0.26 at 48.65. Volume was 40% belowaverage and Bollinger Bands were 82% narrower thannormal. AICL is currently 27.7% below its 200-period movingaverage and is in an upward trend. Volatility is relativelynormal as compared to the average volatility over thelast 10 periods. Our volume indicators reflect moderateflows of volume into AICL (mildly bullish). Our trend fore-casting oscillators are currently bullish on AICL. Ourmomentum oscillator is currently indicating that AICL iscurrently in an overbought condition.

AKD Securities Ltd 85.9 Buy

RSI (14-day) 75.07 MTS Shares `000 681.900

MA (10-day) 46.57 MTS Rs `000 27,029.54

MA (100-day) 52.49 MTS Rate 11.75

MA (200-day) 67.21 ** NOI Rs (mn) 327.85




Dera Ghazi Khan Cement Co Ltd


Technical Outlook

DGKC closed down -2.57 at 92.45. Volume was 30% above aver-

age and Bollinger Bands were 63% narrower than normal.

DGKC is currently 10.0% above its 200-period moving aver-

age and is in an upward trend. Volatility is extremely low

when compared to the average volatility over the last 10 peri-

ods. Our volume indicators reflect moderate flows of volume

into DGKC (mildly bullish). Our trend forecasting oscillators

are currently bullish on DGKC.

Arif Habib Ltd 112.2 Buy

AKD Securities Ltd 108 Accumulate

TFD Research 105 Positive


MA (10-day) 92.86 MTS Rs `000 267,098.64

MA (100-day) 87.20 MTS Rate 11.75

MA (200-day) 84.05 ** NOI Rs (mn) 304.39




Pakistan Telecommunication Co Ltd


Technical Outlook

PTC closed up 0.19 at 31.85. Volume was 9% below average

and Bollinger Bands were 51% narrower than normal.

PTC is currently 15.1% above its 200-period moving average

and is in an upward trend. Volatility is extremely low when

compared to the average volatility over the last 10 periods.

Our volume indicators reflect volume flowing into and out of

PTC at a relatively equal pace. Our trend forecasting oscilla-

tors are currently bullish on PTC.

Arif Habib Ltd 29.1 Buy

AKD Securities Ltd 34 Buy



MA (10-day) 30.90 MTS Rs `000 44,465.77

MA (100-day) 29.72 MTS Rate 11.83

MA (200-day) 27.61 ** NOI Rs (mn) 198.09




Bank Al-Falah Ltd


Technical Outlook

BAFL closed down -0.04 at 27.89. Volume was 34% below

average and Bollinger Bands were 84% wider than nor-

mal.

BAFL is currently 16.0% above its 200-period moving

average and is in a downward trend. Volatility is high as

compared to the average volatility over the last 10 periods.

Our volume indicators reflect volume flowing into and out

of BAFL at a relatively equal pace. Our trend forecasting

oscillators are currently bearish on BAFL.

Arif Habib Ltd 21.2 Hold

AKD Securities Ltd 20 Neutral

TFD Research 21.5 Negative


MA (10-day) 26.77 MTS Rs `000 95,900.07

MA (100-day) 27.02 MTS Rate 11.70

MA (200-day) 24.00 ** NOI Rs (mn) 13.93



Alert ! Unusual Movements

MTS LEVERAGE POSITIONSymbol Total Volume Total Value MTS Rate

AHCL 418,000 9,553,907 12.00

AICL 681,900 27,029,542 11.75

AKBL 303,000 4,204,368 17.89

ATRL 951,300 178,009,786 11.78

BAFL 4,331,500 95,900,067 11.70

BAHL 1,313,500 39,984,894 11.80

BOP 12,839,400 114,828,701 13.37

CHCC 206,500 13,016,714 11.93

DAWH 282,000 20,443,308 11.99

DGKC 3,451,000 267,098,643 11.75

EFOODS 496,300 49,445,417 11.74

ENGRO 1,548,700 251,894,675 11.74

FABL 3,528,500 42,117,294 12.06

FATIMA 7,401,000 193,246,539 11.74

FCCL 4,526,700 66,777,012 12.34

FFBL 1,032,000 37,144,321 11.74

FFC 734,300 69,773,242 11.74

HUBC 2,207,000 98,885,561 11.74

KAPCO - - -

LUCK 78,500 21,740,881 11.72

MCB 289,600 62,487,319 11.74

MLCF 4,573,500 115,328,779 12.11

NBP 1,682,000 77,746,525 11.75

OGDC 225,000 46,774,095 11.74

PIOC 804,000 28,535,931 11.75

PKGP 424,500 6,929,575 -

PPL 189,000 36,052,102 11.74

PSO 498,700 172,456,975 -

PTC 1,691,000 44,465,769 11.83

SNGP 661,500 12,257,614 12.00

SSGC 4,486,000 106,021,553 12.00

UBL 152,000 19,853,456 11.74

Total 65,835,900 2,574,519,699 11.95

United Insurance 04-Apr 11:00Atlas Income Fund 04-Apr 3:30Premier Insurance 05-Apr 11:00Hallmark Insurance Co. Ltd. 07-Apr 3:00Pak Elektron Ltd 07-Apr 11:30Shaheen Insurance Co 07-Apr 2:00Shabbir Tiles & Ceramics Ltd 15-Apr 4:30Linde Pak Ltd 16-Apr 11:00Fauji Cement Comp 23-Apr 10:30Unilever Pak Foods Ltd 24-Apr 2:30

BOARD MEETINGS

Company Date Time

ELECTRICITY

Hub Power XD 11572 6.44 53.96 54.20 53.40 53.75 -0.21 379,000

Ideal Energy 80 - 6.61 6.79 6.50 6.76 0.15 8,000

Japan Power 1560 - 3.43 3.52 3.38 3.46 0.03 428,500

Kohinoor Energy 1695 7.49 36.02 36.20 35.92 36.20 0.18 40,000

Kohinoor Power 126 - 3.35 3.67 3.10 3.67 0.32 6,000

Kot Addu Power XD 8803 6.93 59.77 59.98 59.20 59.81 0.04 98,000

Nishat Chunian Power Ltd XD 3673 5.02 36.30 36.80 36.15 36.75 0.45 12,500

Nishat Power Ltd XD 3541 4.04 31.32 31.60 31.20 31.36 0.04 13,000

Pakgen Power Ltd 3721 3.61 19.72 20.00 19.65 19.71 -0.01 479,500

S G Power 178 - 2.30 2.30 2.30 2.30 0.00 1,000

Sitara Energy Ltd 191 3.27 33.55 33.10 33.10 33.10 -0.45 500

Southern Electric 1367 - 2.56 2.69 2.56 2.63 0.07 365,000

Tri-star Power XD 150 31.72 2.07 2.10 2.01 2.03 -0.04 295,500

Paid up


BANKS

Allied Bank LimitedXDXB 11451 8.91 97.12 97.10 95.40 96.00 -1.12 31,000

Askari Bank 12603 12.32 17.08 17.25 16.70 16.76 -0.32 1,824,500

Apna Microfinance Ba 300 - 10.50 11.50 10.60 11.50 1.00 3,500

Bank Alfalah XD 13492 8.74 27.93 28.25 27.60 27.89 -0.04 3,253,500

Bank AL-HabibXDXB 11114 8.81 39.88 41.45 39.80 40.18 0.30 863,000

Bank Of Khyber 10004 5.96 8.11 8.10 8.00 8.10 -0.01 4,500

Bank Of Punjab 10551 3.64 10.66 11.34 10.66 11.25 0.59 45,536,500

BankIslami Pak 5280 - 10.60 10.62 10.45 10.59 -0.01 539,000

Faysal Bank 10433 13.46 14.60 15.19 14.40 15.08 0.48 16,080,500

Habib Bank LtdXDXB 14669 12.62 178.00 178.00 174.50 176.70 -1.30 256,500

Habib Metropolitan Bank 10478 10.01 28.00 29.00 27.51 28.84 0.84 178,000

JS Bank Ltd 10725 14.91 4.64 4.92 4.60 4.77 0.13 4,706,000

KASB Bank Ltd 19509 - 2.24 2.30 2.08 2.12 -0.12 990,500

MCB Bank LtdXDXB 11130 13.76 263.67 271.00 263.20 268.73 5.06 1,557,000

Meezan Bank XD 10027 34.62 39.00 39.50 38.75 38.77 -0.23 63,500

National Bank XD 21275 7.38 57.43 57.90 56.70 57.08 -0.35 2,186,500

NIB Bank 103029 12.90 2.79 2.84 2.55 2.58 -0.21 13,804,000

Samba Bank 8082 82.88 6.92 6.83 6.50 6.63 -0.29 368,000

Silkbank Ltd 26716 - 2.64 2.70 2.45 2.48 -0.16 5,785,000

Soneri Bank 11025 11.63 14.28 14.10 13.90 13.95 -0.33 124,500

Stand Chart Bank XD 38716 14.20 21.55 21.80 21.50 21.73 0.18 121,000

Summit Bank Ltd 10780 - 4.54 4.93 4.20 4.71 0.17 13,219,000

United Bank Ltd 12242 11.90 168.02 167.97 164.51 165.02 -3.00 383,400

Paid up


EQUITY INVESTMENT INSTRUMENTS

1st Fid Leasing 264 13.17 3.89 3.95 3.50 3.82 -0.07 49,500Allied Rental 1219 8.57 52.00 52.00 52.00 52.00 0.00 5,000AL-Noor Modaraba 210 12.22 5.00 5.95 5.00 5.50 0.50 18,000B R R Guardian Modaraba 780 18.45 5.33 5.40 5.23 5.35 0.02 60,000Crescent St Modaraba 200 9.71 2.20 2.40 2.16 2.33 0.13 54,500Elite Cap Modaraba 113 6.23 4.30 4.68 4.68 4.30 0.00 500Equity Modaraba 524 15.45 5.00 5.10 4.95 5.10 0.10 22,500Golden Arrow 760 2.35 9.59 9.55 9.43 9.50 -0.09 188,000Habib Modaraba 1008 6.52 9.25 9.22 9.16 9.20 -0.05 108,000I B L Modaraba 202 - 3.12 3.35 3.10 3.17 0.05 3,000NAMCO Balanced Fund 1225 15.97 6.20 6.05 5.20 5.27 -0.93 19,500Nat Bank Modaraba 250 5.87 4.72 4.17 4.17 4.17 -0.55 500PICIC Growth Fund 2835 6.49 29.06 30.40 29.10 30.36 1.30 217,000PICIC Inv Fund 2841 6.12 13.91 14.30 13.90 14.25 0.34 1,269,500Punjab Modaraba 340 - 4.11 4.18 3.85 3.90 -0.21 108,500Stand Chart Modaraba 454 9.28 22.00 22.10 22.00 22.00 0.00 4,000Tri-Star Mutual 50 1.67 5.42 5.78 5.11 5.29 -0.13 83,500U D L Modaraba XD 264 9.59 18.97 19.00 18.62 18.90 -0.07 50,000

Paid up


GAS WATER AND MULTIUTILITIES

Sui North Gas 6342 9.64 22.83 23.21 22.46 22.65 -0.18 1,314,500

Sui South Gas 8809 12.25 29.87 30.64 29.60 30.39 0.52 2,745,500

Paid up


NON LIFE INSURANCE

Adamjee Insurance 3500 9.63 48.39 48.75 47.80 48.65 0.26 2,344,700

Ask Gen Insurance 388 5.14 20.50 20.40 20.32 20.34 -0.16 11,500

Atlas InsuranceXDXB 702 8.45 56.82 57.70 55.50 56.80 -0.02 14,500

Century Insurance 457 12.35 18.76 19.76 18.80 19.76 1.00 271,000

Crescent Star Insurance 620 - 5.95 6.10 5.81 6.03 0.08 82,000

Cyan Limited 586 4.03 87.95 89.97 86.05 88.00 0.05 15,500

EFU General InsuranceXDXB 1600 9.34 114.89 120.50 112.00 119.84 4.95 78,000

Habib Insurance 495 12.06 23.88 24.19 23.55 23.75 -0.13 137,000

IGI InsuranceSPOT 1115 36.41 208.65 219.08 210.50 218.45 9.80 752,400

Jubilee Gen.Ins 1364 12.69 92.25 96.00 95.00 95.90 3.65 5,000

Pak Gen Insurance 375 4.42 15.18 16.18 15.80 16.15 0.97 102,500

Pak Reinsurance 3000 9.05 32.46 33.59 32.00 33.32 0.86 1,286,000

PICIC Ins Ltd 350 - 11.00 10.90 10.50 10.90 -0.10 9,000

Premier Insurance 303 216.67 13.24 13.90 13.00 13.00 -0.24 12,000

Reliance Insurance 367 3.96 10.50 10.95 10.50 10.80 0.30 64,000

Shaheen Insurance 450 - 7.40 7.29 7.01 7.01 -0.39 2,000

Silver Star Insurance 306 1.75 7.03 7.50 6.10 7.10 0.07 7,500

United Insurance 702 8.95 24.12 25.32 24.50 25.32 1.20 77,000

Universal Insurance 300 - 5.09 4.66 4.66 4.66 -0.43 500

Paid up


LIFE INSURANCE

East West Life 594 - 5.21 5.00 5.00 5.00 -0.21 500

EFU Life Assurance XD 1000 10.32 110.00 111.00 110.89 110.95 0.95 1,000

Jubilee Life InXDXB 721 32.36 259.00 265.25 259.00 262.75 3.75 10,200

Paid up


FINANCIAL SERVICES

Arif Habib Limited 550 4.06 49.03 51.35 48.70 50.50 1.47 235,500Arif Habib Corp 4538 16.51 28.05 28.15 27.60 27.73 -0.32 251,000Arpak Int 40 - 13.78 14.43 12.78 14.43 0.65 9,500Dawood Equities 250 43.75 3.70 3.84 3.45 3.50 -0.20 14,000Escorts Bank 441 - 3.00 3.33 3.01 3.15 0.15 36,000First Credit & Invest Bank Ltd 650 - 4.77 5.77 4.25 5.77 1.00 45,000First National Equity 1380 - 3.29 3.50 3.30 3.44 0.15 43,500Grays Leasing 215 11.11 5.00 5.00 5.00 5.00 0.00 1,000IGI Investment Bank 2121 - 1.78 1.85 1.75 1.78 0.00 666,500Invest and Fin Sec 400 4.42 14.63 14.70 14.67 14.67 0.04 1,500Invest Bank 2849 3.15 2.04 2.27 1.95 2.24 0.20 2,464,000Ist Cap Securities 3166 - 2.75 2.88 2.75 2.78 0.03 54,500Ist Dawood Bank 626 - 1.75 1.80 1.80 1.80 0.05 18,000Jah Siddiq Co 7633 1.85 11.31 11.74 11.35 11.50 0.19 10,569,000JS Global Cap 500 8.73 34.75 35.25 34.99 35.25 0.50 2,000JS Investment 1000 6.57 11.97 12.25 12.00 12.08 0.11 849,000KASB Securities 1000 14.48 6.91 7.50 6.79 6.95 0.04 4,000Orix Leasing 821 7.68 28.50 29.48 28.94 29.48 0.98 56,000Pervez Ahmed Sec 1866 32.09 3.55 3.65 3.50 3.53 -0.02 551,000Saudi Pak Leasing 452 1.91 3.00 3.01 2.95 2.98 -0.02 37,000Sec Inv Bank 514 20.00 3.03 3.44 3.00 3.20 0.17 9,500Security Leasing 363 - 4.75 4.75 4.75 4.75 0.00 500Trust Inv Bank 586 - 1.89 1.99 1.80 1.81 -0.08 290,000

Paid up


PHARMA AND BIO TECH

Abbott (Lab)SPOT 979 23.68 423.23 444.39 423.00 444.32 21.09 202,500Ferozsons (Lab) XD 302 20.49 206.10 216.40 212.00 216.40 10.30 69,200GlaxoSmithKline 2895 27.79 167.60 174.49 166.65 171.20 3.60 683,600Highnoon (Lab) 182 23.06 150.17 156.44 145.06 153.12 2.95 32,900IBL HealthCare Ltd 230 19.52 88.60 93.03 89.00 89.01 0.41 41,000Otsuka Pak 110 18.87 49.75 51.00 49.00 49.25 -0.50 2,500Sanofi-Aventis 96 16.83 850.00 860.00 841.00 850.00 0.00 900Searle Pak 613 15.01 151.17 158.72 150.25 158.63 7.46 620,400

Paid up


FIXED LINE TELECOMMUNICATION

Pakistan Telecomm Co A 37740 - 31.66 32.19 31.52 31.85 0.19 5,449,000Telecard 3000 88.50 5.22 5.42 5.22 5.31 0.09 1,797,500WorldCall Tele 8606 - 2.66 2.73 2.62 2.65 -0.01 1,033,000

Paid up


7Saturday, April 5, 2014

Continuations

WASHINGTON: PresidentBarack Obama brought con-gressional leaders to the WhiteHouse on Thursday for talkson the Ukraine crisis, withdiplomatic efforts between theUnited States and Russia fac-ing a hard slog.

A week after a trip to Europethat was dominated by meet-ings to discuss ways to react toRussia's annexation ofCrimea, Obama sat down withDemocratic and Republicanleaders of the U.S. Senate andthe House of Representatives.

Obama last spoke to RussianPresident Vladimir Putin onFriday by telephone. Sincethen, U.S. Secretary of StateJohn Kerry has engaged indiscussions with his Russian

counterpart,Sergei Lavrov, about a

diplomatic outcome to the dis-pute.

But no such resolution haspresented itself, and Russiahas shown no sign of loosen-ing its grip on Crimea in whatMoscow says is an effort toensure the safety of ethnicRussians in the region.

Obama and European lead-ers agreed last week to imposesanctions against targeted sec-tors of the Russian economy,like its energy industry, shouldthe Russian military movedeeper into Ukraine.

The allies are also dis-cussing ways to bolster NATOand increase the allied pres-ence in member nations near

Russia like the Baltic states ofLatvia, Lithuania and Estonia.

A White House official saidObama and Vice President JoeBiden met with the two topDemocrats in Washington,Senate Majority Leader HarryReid and House MinorityLeader Nancy Pelosi, and theirRepublican counterparts,House Speaker John Boehnerand Senate Minority LeaderMitch McConnell.

Obama told them that "theUnited States continues tolead a coordinated interna-tional effort to supportUkraine and isolate Russia forits violation of Ukraine's sov-ereignty and territorialintegrity," the White Houseofficial said. - APP

Obama briefs congressional leaders

on Ukraine crisis

SEOUL: South Korea has test-fired a new ballistic missilewith a range of 500 km (310miles) and will try to extend therange to 800 km so it can strikeany site in North Korea, itsdefence ministry said onFriday, days after Pyongyangfired a mid-range missile.

The new missiles are intend-ed to counter the threat fromNorth Korea's missile andnuclear programmes, ministryspokesman Kim Min-seok said,but the move is likely to rattlethe North,

hit with U.N. sanctions for itsown missile tests.

South Korea adopted a volun-tary ban on developing ballisticmissiles with a range of more

than 300 km, under an agree-ment with the United States,but the allies agreed in 2012 toallow the South to develop 800km-range missiles.

"We test-fired it, and we suc-ceeded," Kim told a briefing,when asked if the military hadrecently conducted a 500-kmmissile test. "And we're goingto make 800-km missiles."

The new missiles will be usedto strike the North's weaponsand military installations in thefurthest part of the countryfrom anywhere in the South ifneeded, he added.

The two Koreas are technical-ly still at war, since the 1950-53Korean War ended in a truce,rather than an armistice.

North Korea last week fired amid-range ballistic Rodongmissile that fell into the sea offits east coast after flying about650 km and short of its maxi-mum range, thought to be about1,300 km, and enough to hitmuch of Japan.

North Korea this week firedmore than 500 rounds ofartillery into the sea off its westcoast near a disputed maritimeborder in the latest sabre-rat-tling under its young leaderKim Jong Un, who has vowedto build nuclear weapons.

More than 100 rounds landedin the waters of the South,prompting it to fire back morethan 300 rounds into theNorth's waters. - AFP

South Koreaextending ballistic

missile range

IMF has revised its growth targets and we are going for WorldBank IDA Programme which otherwise will lapse in June 2014.

He said that we have a three year macro-economic stability pro-gramme and the targets are very clear. We are going to bring downthe fiscal deficit which we call the mother of all evils, from 8% to6.3% this year, he added. He said that the next year our target is 5and then 4 which is considered normal around the world.

He stressed that the government has undertaken numerousreforms and stabilization measures and this is the reason that theADB, Islamic Development Bank, JICA, IFC and everybody isback in business with Pakistan after three years.

In reply to a question, the Finance Minister said that Pakistan isdealing with the security issue and the PML(N) government waselected on a manifesto of dealing with four Es; Economy, Energy,Education and to deal with Extremism. He said that our next fiveyears plan with the World Bank viz; Country Strategy Partnershipwould be revolving around these four Es.

The Finance Minister said that we have drastically cut our cur-rent expenditure for the fiscal year 2013-14 and we haveincreased our allocations in social sector including social safetynet and PSDP. He said that we have almost doubled our expendi-ture on social safety net in the current budget and we intend to domore in future.

On infrastructure development in Pakistan, the Finance Ministersaid that we are preferring the BOT basis. On energy sector wehave agreed upon upfront tariffs without any confusion and wasteof time.

On a question about security related aid, the Finance Ministersaid that the Coalition Support Fund (CSF) is totally misunder-stood. He emphasized that Coalition Support Fund is not assis-tance but it is the reimbursement of expenses incurred by Pakistanon dealing with terrorism. The Finance Minister said that the gov-ernment of PML-N came to power for the third time has a clearroad map and we do not want aid from our friends. He said thatwe prefer trade and investment with the international communityand we would like to build our international relations on the basisof trade, investment and self-reliance.

On opening up trade with India, the Finance Minister said thatthe government is very clear on promoting regional trade withSAARC countries. He added that our government is activelyengaged with India for the last ten months, and we have almostfinalized everything. He added, we do not want to be seen as acountry supporting any political party in Indian elections there-fore, we will make a decision after Indian elections. - Agencies

Continued from page 1No #1

of universities which are offering Islamic banking courses aswell as research facilities.

SBP also has plans to establish Center of Excellence in IslamicFinance in collaboration with Islamic financial industry. The cen-ter will significantly augment the existing research capacitybesides offering training and capacity building programmes. StateBank of Pakistan (SBP) has issued a comprehensive Shariah gov-ernance framework (SGF) to strengthen the overall Shariah com-pliance environment in Islamic banking institutions (IBIs).

The framework, aimed at institutionalizing the Shariah compli-ance function in IBIs, will be applicable from Oct. 01, 2014, saida SBP release here on Friday.

It explicitly defines the roles and responsibilities of all organs ofIBIs including their board of directors, executive management,Shariah board, Shariah compliance department and internal andexternal auditors towards Shariah compliance.

The framework requires IBIs to constitute Shariah boards com-prising at least 3 Shariah scholars meeting SBP fit-and-proper cri-teria, along with prescribing an effective mechanism for the BODoversight of Shariah compliance environment and introducingexternal Shariah audit requirement for IBIs.- APP


Taliban, Afghan Presidential elections and withdrawal of NATOforces from Afghanistan. It was presided over by Prime MinisterMuhammad Nawaz Sharif in Islamabad Friday.

Interior Minister Chaudhry Nisar Ali Khan, Prime Minister'sSpecial Assistant on National Affairs Tariq Fatemi, Chief of ArmyStaff General Raheel Sharif and Director General ISI LieutenantGeneral Zaheer-ul-Islam attended the meeting.

Afghan Presidential Elections are scheduled to be held ontomorrow (Saturday). Earlier, Pakistan announced to maintainstrict vigilance on its borders with Afghanistan to avert any unto-ward situation. - Agencies


Asif Zardari expressed dissatisfaction over the World goes par-ticularly the country energy crises and other issues of develop-ment. He raised the hands of a PPP candidate for P.S-35 and askedthe Larkana people that they should never forget their vote andsupport for.

While, PPP parliamentarians and leaders among SyedKhursheed A Shah, Raza Rabbani, Aitzaz Ahsan, Syed Qaim AliShah and others also addressed the event and paid rich tribute tothe founder and Chairman PPP Shaheed Zulfikar Ali Bhutto andBenazir Bhutto on the occasion.

The 35th death anniversary of founder-chairman of PakistanPeople's Party (PPP) and former Prime Minister Shaheed ZulfikarAli Bhutto was observed with great reverence and respect here atGarhi Khuda Bux Bhutto and other parts of country.

Hundreds and thousands of party workers and leaders paid richtributes to the legend leader and founder PPP Zuflikar Ali Bhutto.The caravans of four corners attended Qura'an Khawani andFateha Khawani for the departed soul of Z.A. Bhutto, followed byLunger also distribution among the people and workers at theancestral graveyard of Bhutto family.

PPP Chairman Bilawal Bhutto Zardari on Friday criticized thePML-N government for its policies relating to privatization, talkswith the militants and withdrawal from the Pak-Iran gas pipelineproject.

Speaking in Garhi Khuda Bakhsh to commemorate 35th deathanniversary of his grandfather and former prime minister ZulfikarAli Bhutto, he said the mess created by the government by engag-ing the militants in direct talks will again be washed by the bloodof martyrs - a reference to sacrifices rendered by ZAB and hismother Benazir Bhutto.

Rejecting the dialogue process initiated by the government ofPrime Minister Nawaz Sharif with the Tehreek-i-Taliban Pakistan(TTP), Bilawal said the terrorists will never succeed in theirobjectives as long as Bhutto's grandson is alive.

"This head can be cut but it will never bow down before theoppressors," he added.

Alleging the Punjab government of sheltering the extremistsand terrorists, he said the blind are leading those with eye-sight inthe name of peace talks. How will peace prevail in a countrywhose biggest province was sheltering the militants, he ques-tioned. Bilawal urged the masses in Punjab to wake up.

Pakistan's assets are capital of nation's poor people, he said,adding that the nation will not be thrown in unemployment. Ournation has built these assets after making several sacrifices, headded.

"If government cannot run the country, does this mean weshould sell it?" He asked. Bilawal asked what price Pakistan hasto pay for friendly money paid by friendly country. He said thosewho want to rob the country in the name of privatization are notfriends.

He said the government has left the nation as professional beg-gars.

He said that his party's government will not remain silent ondemolishing of temples unlike Punjab government. Harming andburning minorities' worship places is not Islam, he said, addingthat the army is honourable and not anyone's private property.

He said that it is not wise to muddle in others' war. Bilawal kept


application requesting exemption from today's hearing andadjourned the next hearing of the case to April 25.

The judges' detention case is based on an FIR against the retiredgeneral registered in August 2009 on the complaint of ChaudhryMohammad Aslam Ghumman advocate.

He had asked the police to initiate legal proceedings againstMusharraf for detaining over 60 judges, including then chief jus-tice Iftikhar Muhammad Chaudhry, after proclamation of a stateof emergency in the country on Nov 3 2007.

Senator Babar Awan has said 4th and the biggest of all NROshas been prepared and the guest is all set to depart and the host isall set to welcome him.

"I want to inform the nation with reference to trial of Musharrafthat fourth, the biggest ever NRO has been evolved and with thisthe guest is ready to leave and host is all set to welcome him", hesaid this while addressing Lahore High Court Bar here Friday.

Welcoming the defence minister statement he said in the light ofthis statement, cronies of Musharraf and those who abrogated theconstitution before Musharraf regime be also put to trial. Nowonly the mother of crime is being tried but father and uncle havecome in the field.

The incumbent government has set free the prisoners by strikingthird NRO with the non-state elements after the earlier two NROswhich were hammered out in the previous regimes, he alleged.

He appealed to Supreme Court (SC) to conduct hearing ofBhutto case early. President should send application to SC forearly hearing of this case, he demanded.

He said that former Chief Justice of Pakistan IftikharMuhammad Chaudhry provided protection to LFO but trial ofchief of only one institution is being conducted.

Federal Minister for Railways, Khawaja Saad Rafiq has saidthat government would follow the decisions of courts regardingPervaiz Musharraf case.

He said that rule of law would be ensured to protect the countryfrom the onslaught of enemy forces.

Talking to a private news channel, he said it is mandatory ongovernment to provide assistance to judiciary on legal issues andmatters.

He said that government's top priority is to make the countryprosperous and facilitate the people and raise their standard oflife. The Minister said now trends have changed in national poli-tics, adding that all the institution are now participating to makethe country developed and prosperous.

He said "independent judiciary, media and rule of law had beenour dream."

Replying to a question regarding Blochistan issue, Saad Rafiqsaid that 2014 is the year to change the destiny of the province,adding that government has many plans including political strate-gies and dialogue process to address the reservations of Balochleaders.

The Government is fully committed to not only bringing peacein the province by ensuring law and order but also is determinantto address the issues to make it prosperous, he said.

Replying to another question, he said all the governmental insti-tutions are following the Constitution and functioning according-ly. He said that everyone should obey the Constitution for makingthe society civilized.

Praying for the long life and speedy recovery of the ailing moth-er of former president Pervez Musharraf, he said the governmentis ready to provide all necessary treatment facilities to her.

PML-Q secretary general Mushahid Hussain has stressed thatdouble standards in Musharraf Treason case should avoided at allcosts. Talking to media outside Parliament House on Friday healso urged that Musharraf should be indicted for issues starting12th Oct 1999 coup.

Terming (late) Z.A. Bhutto's hanging as extra-judicial, he alsoberated politicians' failure to learn any lesson, as yet, derailingdemocracy in the process of in-fighting for their vested interests.

He also scoffed at the way Nawaz Sharif ditched his jailed loy-alists and went into his luxurious exile to Saudi Arabia: "was thereno extra seat for your party comrades in the aeroplane that tookyou to Saudi Kingdom?", questioned Mushahid.

He also stressed that since all political parties had already giventheir mandate to government for holding dialogue on 09th Sep2013 , and now it was government's ball to implement the deci-sion taken in APC, and deliver peace and harmony to masses.

He was also critical of government's failure to take PML-Q intoconfidence about release of 19 Taliban prisoners.

Meanwhile, SC has been approached for initiation of contemptof court proceedings against former president Pervez Musharraffor expelling Prime Minister Nawaz Sharif forcibly by him fromthe country.

The petitioner through his petition has invited the attention ofcourt to unanimous decision rendered by 7-member bench of SCin 2007 wherein the court had accepted the fundamental right ofNawaz Sharif and his brother Shahbaz Sharif for their entry inPakistan and restrained federal, provincial governments and intel-ligence agencies from blocking the process of return and entryinto Pakistan by these two brothers.

Stiff resistance was put up by government at Islamabad airporteven 18 days after announcement of its short order by the apexcourt. This incident can be confirmed by the court from the sittingdefence minister.

The petitioner said the entire responsibility for defiance ofcourt's orders rests with former president and chief of army staffPervez Musharraf and only he could identify the persons whoexpelled Nawaz Sharif forcibly from the country.

The petitioner made it clear that this petition outweighs all othercriminal cases instituted against Pervez Musharraf, therefore, itmay please be placed before Chief Justice of Pakistan without anydelay. A copy of this petition be also sent to Justice Nasir ul Mulkwho was one among the 7-member bench of SC which waspresided over by the then Chief Justice of Pakistan IftikharMuhammad Chaudhry. - Agencies


According to sources, the meeting also reviewed security situa-tion, talks with Taliban, Afghan Presidential elections and with-drawal of NATO forces from Afghanistan.

The meeting was attended by Interior Minister Chaudhry NisarAli Khan, Prime Minister's Special Assistant on Foreign AffairsTariq Fatemi, Chief of Army Staff General Raheel Sharif andDirector General ISI Lt. Gen. Zaheer-ul-Islam.

Sources said the high-ups discussed the upcoming phase ofdirect negotiations with Taliban and reviewed the militants'demands and suggestions, including the release of some militants.

In the meeting, the military and political leaders have reported-ly agreed to continue the process of releasing non-combatants ofTaliban to pay the way for a successful dialogue process.

Sources said at least 100 more prisoners could be released innext few days.

Interior Minister Khan said that the direct talks between thegovernment and Taliban was progressing adding that the talkswere being held within the parameters of the Constitution.

Decisions of the meeting would be conveyed to the Talibannegotiators through Chaudhry Nisar Ali Khan.

Sources said that DG ISI briefed the prime minister about theinternal and border security situation, while interior ministryapprised about the release of non-combatant prisoners of TTP.

Earlier, Chief of Air Staff Air Chief Marshal Tahir Rafiquecalled on the Prime Minister. Professional matters pertaining toPakistan Air Force were discussed in the meeting.

Member Taliban peace committee Professor Ibrahim has saidthat neither government nor Taliban disclosed anything aboutrelease of prisoners, yet a breakthrough is expected soon.

Talking to media here on Friday, he said his committee wasstriving hard to win release of prisoners from both sides.

Professor Ibrahim said both government and the Taliban had


leaders not to leave the premises."Police asked us not to move outside the house till further orders," Hurriyet leader told media men,

adding that police also raided house of another Hurriyet leader, Mohammad Yousuf Naqash.The action is aimed to stop the leaders from visiting Shopian to address public gatherings after

Friday prayers.Mohammad Yasin Malik was detained at his residence at Maisuma in Srinagar after the arrival

from Delhi on Thursday, where he had gone to attend Pakistan Day function. - APP


To a question, he said that dialogues should remain dialogues and not turn into mockery. He wasof the view that the dialogues will not give results unless done with sincerity. - APP


chanting "Khappay khappay Bhutto Khappay" slogan which liter-ally means "Bhutto needed." - Online

fears and apprehensions, and his peace committee was trying to reduce the same so as to increasethe chances of success.

Replying to a question, he said Taliban were still sticking to the ceasefire, but there had been notprogress from the government.

Professor Ibrahim, a member of Taliban's negotiating team, described release of 19 Taliban pris-oners as 'encouraging' development in the peace talks, but feared that 'difficulties' and 'dangers' areahead.

On Thursday, the government announced that 19 non-combatant Taliban prisoners have beenreleased as with the approval of Prime Minister Nawaz Sharif, in a move designed to invigorate ashaky peace process with the banned Tehrik-e-Taliban Pakistan (TTP).

"It's an encouraging development but we are not totally satisfied for there are many reservationsand dangers, but still we will try to boost up the chances of success," said Prof. Ibrahim, who is alsoa central leader of the Jamaat-e-Islami ruling the KPK region as coalition partner of Imran Khan'sPakistan Tehrik-e-Insaf (PTI).

He said that the government had not formally informed the Taliban committee of prisoners' release."I came to know about it through media reports. We will ask Taliban to release the captives once thegovernment informs us."

The Taliban intermediary said that the government should also make arrangements for the releaseof militants other than the non-combatants.

He claimed that many Taliban prisoners have not been released despite army's clearance.UK PML-N Senior Vice President Amir Gujjar Friday urged the Taliban leadership to hold mean-

ingful peace talk with the government."The government is making sincere efforts to put economy back on track but terrorist attacks are

a big hinderance in this way," he told a group of reporters here.He said since its induction, the government was pursuing revolutionary economic agenda and has

succeeded in fetching huge foreign investment to the country. Besides, he said, Pakistani expatriates and dozens of UK companies were preparing to set up proj-

ects because of ideal conditions and incentives being offered by the government.He said international forces which were afraid of, Pakistan becoming an Asian giant, had planted

their agents to halt economic activities in the country. - Agencies

Florida Senate passes'warning shot' bill

TALLAHASSEE, Fla: The Florida Senate gave final approval on Thursday to a bill that wouldallow gun owners to fire warning shots to ward off attackers in dangerous situations.

Lawmakers voted 32-7 to send the bill to Gov. Rick Scott to be signed into law. Backers said thelaw was needed because currently, a person who shoots an attacker dead could be acquitted under thestate's "Stand Your Ground" law while a person who merely fired a warning shot could be sent to jail.

Opponents of the law, who have been pressing for stricter gun control in Florida, called the meas-ure irresponsible and warned it could make gun-owners become trigger-happy.

A half-hour debate touched on high-profile cases including one in which Marissa Alexander, amother, was sentenced to jail time for firing a "warning shot" that went into a kitchen wall during anargument with her abusive husband. She is currently free on bond and awaiting a new trial oncharges of aggravated assault.

Civil rights groups and gun control advocates have called for stricter gun control and questionedself-defense laws in Florida due to her case and the shooting deaths of African American teenagersTrayvon Martin and Jordan Davis by gun owners who claimed protection under the state's "StandYour Ground" law.-Agencies

Saturday, April 5, 20148

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

ISLAMABAD: Pakistan Tehrik-e-Insaf (PTI) Chairman Imran Khansaid on Friday that his party's gov-ernment is ready to hold local bodieselections in Khyber Pakhtunkhwa on30th April, alleging that Pakistandoesn't have an independent electioncommission even though the mediaand judiciary are independent.

Khan said real democracy is notpossible without free and fair elec-tions.

Addressing media after meetingwith Election Commissioner inIslamabad, he said that those whocome into power by rigging elec-tions can neither eliminate corrup-tion, nor bring revolution.

"Those who've come under powerthrough 'number-two' (illegitimate)elections are a big obstacle," he said."Those who rigged elections shouldbe punished."

Imran Khan reiterated his appealto conduct voters verification in fourconstituencies, demanding corruptpresiding officers be sent to prison.

He said he will meet PTI forwardblock, and that a decision will bemade after listening their point ofviews.

He said that no one can blackmailhim for the sake of ministries,adding that instead of bowing toblackmailing, party will breakassembly to hold reelections if nec-essary.

Khan said that the meeting withElection Commissioner was pleasantadding that a detailed conversationabout biometric system took place.He said that KP province is ready tohold local bodies' polls on 30 April.

Earlier, as many as fourteen'annoyed' members of PakistanTehreek-e-Insaaf (PTI) in KhyberPakhtunkhwa assembly submittedtheir resignations to deputy speakerahead of their meeting with partychief Imran Khan.

It was reported that several PTImembers formed a forward block inKhyber Pakhtunkhwa Assemblyover the interference of high-ups in

provincial matters. The forwardblock was likely to demand dueshare in the government duringtoday's meeting with PTI chiefImran Khan.

PTI emerged as second largestpolitical party in terms of number ofvotes in general elections 2013; yetthe party didn't clean-sweep asopposed to its expectations. ImranKhan has termed a number of factorsincluding alleged rigging for the out-come of general elections that tookplace on May 11 last year.

Khan has repeatedly highlighted inthe past, the reports of '35 punctures'allegedly inflicted by PakistanCricket Board (PCB) ChairmanNajam Sethi, reiterating his claimthat Pakistan Muslim League(PMLN) influenced interim govern-ment aided the alleged rigging ingeneral elections.

Upon Najam Sethi's reappointmentas PCB chairman, Imran Khanclaimed Sethi is being rewarded forhis 'puncture service'. - NNI

No blackmail, will dissolve PA if necessary: Imran

14 'annoyed' PTI MPAs submit resignations

ISLAMABAD: Parliamentary sec-retary for finance Rana MuhammadAfzal has told National Assembly(NA) that government is notaccepting IMF dictation owing tovibrant economic policies of PrimeMinister Nawaz Sharif.

He said this while giving reply toquestion from Roy Hassan Nawaz,MNA of PTI during question hourshere Friday. He told the housepower and gas tariff is not scaled upon the dictation of IMF. Wheneverloan is obtained from IMF, it onlyidentifies our lapses, he pointedout. "We are proceeding in line withthe priorities set in budget by thegovernment.

To a question he said no proposalis under consideration of the gov-ernment for introducing uniformpay scales and other facilities forgovernment employees in the

upcoming budget. He went on to say that provinces

are independent in levying provin-cial taxes. "We will achieve the tar-get of tax recovery amounting to Rs2345 billion", he added.

He told the house that customsduty is zero rated on the drugs andmedicines which are used duringthe treatment of fatal diseases likehepatitis, aids, thalassemia, heartand kidney transplantation.

He said that ATM facility is notavailable in Tharparkar and talksare underway with various banks inconnection with ATM facility. Wehope this facility will be providedto people by the end of this year.

Parliamentary secretary for interi-or Maryam Aurangzeb told thehouse that 3112 foreign nationalswere arrested and 2761 were repa-triated during the last year. - Online

No uniform pay scaleunder consideration

Government employees

THARPARKAR: The Fact-Finding Committee completed itsreport about drought situation inTharparkar on Friday in which itsaid that as many as 196 childrendied in Mithi Hospital.

According to the report, theprovincial government declared thedistrict as a 'drought-hit' after twomonths and eight days. DeputyCommissioner informed the higherauthorities earlier about the situa-tion.

The report also said that the dis-trict administration expressed inef-ficiency and negligence in control-ling the death toll due to the

drought. Meanwhile, over fifty huts were

reduced to ashes when a fire brokeout by accident at village Haryar,here on Thursday.

About 19 families were living in55 huts. They lost their belongingsand some livestock, as nine goatsand one cow were burnt to death.

Fire-brigade reached the incidentsite and put out the blaze. DeputyCommissioner Mithi, Asif Ikram,also arrived at the incident site andprovided tents and ration to affect-ed families.

There was no report of any casu-alties in the fire. - Agencies

196 children diedin Thar: report

Over 50 huts burnt near Mithi

ISLAMABAD: The NationalAssembly was informed Friday thatsixty banned organizations are beingkept under watch as part of efforts tocounter terrorism in the country.

Briefing the House during questionhour about the steps taken so far tocope with terrorist acts,Parliamentary Secretary for Interior,

Maryam Aurangzeb said thatNADRA is also assisting in provid-ing identification services in mattersof countering terrorism and crime.

She said that all the unverifiedSIMs have been blocked and cellularmobile companies have initiated bio-metric verification system accordingto agreed time lines.

She said that Jail ManagementSystem has been installed at KarachiCentral Prison to identify prisonersand keep track of their visitors.

About the situation in Karachi, theParliamentary Secretary saidenhanced coordination among lawenforcement agencies has led to suc-cess of the ongoing action. - Online

60 banned outfits under watch

NEW DELHI: Abdul Basit High

Commissioner for Pakistan to India

has said that bilateral trade will

provide a way forward the two

sides to resolve their disputes.

Abdul Basit, High Commissioner

for Pakistan to India formally inau-

gurated "Made in Pakistan Expo

Mumbai 2014" at the World Trade

Centre, Mumbai, Friday.

The High Commissioner in his

remarks on the occasion lauded the

business communities for creating

ever more bridges between the two

countries. As more two way trade is

taking place psychological inhibi-

tions are being removed.

He said that bilateral trade is serv-

ing to enhance mutual understand-

ing and will also eventually help

the two sides to resolve their dis-

putes and build a strong edifice of

peace and stability.

Pakistan Readymade Garments

Manufacturers & Exporters

Association (PRGMEA), in collab-

oration with EVECON (an event

management company in Pakistan)

under the aegis of Ministry of

Commerce & Textiles of the

Government of Pakistan; and the

Association of Indian Industries

(AIAI) in India are organizing

"Made in Pakistan Expo Mumbai

2014" from April 3-7, 2014 at the

World Trade Centre, Mumbai,

India.

The event is showcasing

Pakistan's textile, fashion fabrics,

food items, and spices, etc. Around

78 leading Pakistani companies/

brands in Textile Fabric, Fashion

Garments, Lawn Print Suits,

Fashion Footwear, Marble Items

and Food Products are displaying

their products on special prices at

the Expo. A Pakistani food court is

also offering an opportunity to food

lovers and families to taste

Pakistani cuisine.

The Expo is coinciding with a

weekend where families can visit

and spend their time in a different

way. - Online

Bilateral trade toease Pak-Indiatension: Basit

No changein Sindh

govt likely:Sharjeel

SUKKUR: "ProvincialMinister Information SharjeelInam Memon has said that he isneither in a position to confirmnor deny if the MuttahidaQaumi Movement is joiningthe Sindh government.

Talking to the media onThursday evening here, theMinister said that any decisionon this matter will be taken inthe larger interest of the peopleof the province.

There will be no changes inthe Sindh government as thecabinet enjoys the support of thepeople, he said explaining theSindh chief minister holds mul-tiple portfolios, like his counter-part in the Punjab. But there areno corruption charges againstQaim Ali Shah, he added.

On the Karachi operation,he said that crime rate in thecity has decreased and manyculprits have been nabbed.They are under trial in thecourts, he added.

See # 8 Page 7

Yasin, Shahplaced underhouse arrest

ISLAMABAD: The authori-ties have placed the Chairmanof Jammu and KashmirLiberation Front, MohammadYasin Malik, senior Hurriyetleader Shabbir Ahmad Shahand other Hurriyet leadersunder house arrest.

A dozen Hurriyet leadersincluding Nayeem AhmadKhan and Shabbir Ahmad Darwere detained during a meetingafter their arrival from Delhi onThursday, KMS reported.

Hurriyet leader while con-demning the authorities' movesaid police cordoned off thehouse of Shah and asked all the

See # 7 Page 7

ISLAMABAD: Chief of Army Staff, General Raheel Sharif called on Prime Minister Muhammad Nawaz Sharif at PM

House.-APP

11 Pakistanisto be releasedfrom Bagram

LAHORE: A law officer onbehalf of Foreign MinistryFriday informed the LahoreHigh Court that a batch of 11Pakistanis, detained in Bagramprison, are scheduled to bereleased by the end of May.

The law officer made thesesubmissions before JusticeMuhammad Khalid MehmoodKhan who was hearing a peti-tion filed by Sultana Noon forthe release of Pakistanisdetained at Bagram TheatreInternment Camp inAfghanistan.

However, the petitioner'scounsel Sarah Bilal pointed outthe lack of details about theidentity of the next batch ofPakistani detainees due to bereleased.

At this stage, the court direct-ed the Ministry of ForeignAffairs to get the identities ofthese 11 detainees verified byNADRA and submit a report inthe court within two weeks.

The court directed the min-istry to immediately inform thecourt as soon as these 11Pakistanis are released andrepatriated besides adjourningthe matter. - APP

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