Originally Posted by blain2
ok got it.
Well in that case i think it was rathera soft sentence
atleast the man should have been shot at point blank that too in the head and donka thrice
first in the donka to give him some pain and than in the head
Top Pakistani delegation in Washington for WB-IMF meetings
WASHINGTON (updated on: October 10, 2008, 09:07 PST): Pakistan’s newly appointed Adviser on Finance Shaukat Tareen arrived here on Thursday as the head of a delegation of top economic managers to attend the World Bank-IMF meetings from October 10 to 13.
Besides representing Pakistan at various forums of the world financial institutions, the adviser to the prime minister will meet with a host of finance and business leaders. He will apprise them of the elected government’s economic, fiscal and investment policies to regain growth momentum and strengthen international confidence in Pakistan’s economic potential.
Tareen will also hold parleys with senior US officials on advancing bilateral cooperation as well as efforts to shore up international support for Friends of Pakistan initiative launched by President Asif Ali Zardari in New York last month.
The initiative, which elicited a strong expression of support from the country’s developed allies and IFIs is aimed at helping the country move towards sustainable economic development. Pakistan is also seeking support for its efforts to overcome current financial difficulties born of a combination of high oil and food prices and other regional factors.
The US Assistant Secretary of State for South Asia, Richard Boucher on Thursday said the United States fully backs the forum and added Washington is working with its allies and the IFIs to match support for Pakistan’s development plans. The next meeting of Friends of Pakistan is expected to take place towards the end of this month in Abu Dhabi.
The Pakistani delegation includes Governor State Bank Dr Shamshad Akhtar, Finance Secretary Dr Waqar Masood and Secretary Economic Affairs Division Farrukh Qayyum.
According to the hectic schedule of engagements, the adviser and his team will meet finance leaders from Saudi Arabia, China, Germany, Afghanistan and Iran.
The Adviser on Fianance is scheduled to meet top leaders of the World Bank, International Monetary Fund, International Finance Corporation, Asian Development Bank, senior managers of Standard and Poor’s and Moody’s rating agency.
In addition, Tareen will meet with US Deputy Secretary Treasury Robert Kimmit, Under Secretary of State for Economic, Energy and Agricultural Affairs Reuben Jeffrey and Assistant Secretary of State for Economic, Energy and Business Affairs Daniel Sullivan.
On Friday Shaukat Tareen will call on Vice President of the World Bank, Isabel Guerrero and discuss cooperation in the country’s development.
President Zardari discussed development efforts with World Bank Chief Robert Zoellick two weeks ago in New York, where the Bank, one of Pakistan’s major development partners, pledged its continued backing.
Tareen will meet President of the Pakistan-US Business Council Jay Collins on Friday and address the Council on the government’s economic reform program and investment opportunities.
Copyright APP (Associated Press of Pakistan), 2008
CFS rates hit all-time high of 62.87 percent
KARACHI (October 10 2008): The average CFS rates on Thursday hit all-time high level of 62.87 percent, despite declining trend in the CFS investment at the local share market. The CFS rates for some companies including Arif Habib Securities Limited have touched 100 percent mark also. Despite a declining trend in the CFS investment, a significant increase in the rates is being witnessed during the last few months, analysts said.
Total CFS investment declined to 12-month low level of Rs 12.60 billion on Thursday as compared to Rs 12.87 billion recorded a day earlier. The 12-month high value of CFS investment was recorded at Rs 54.81 billion. On the other hand, the average CFS rates significantly increased to 62.87 percent as compared to 54.88 percent on Wednesday.
The total CFS volumes stood at 208.61 million shares against 213.85 million shares a day earlier. The benchmark KSE-100 Index declined by 41 percent to 9,181.35 points on October 9, 2008 from its peak level of 15,676.34 points on April 28, 2008, the funding requirement through CFS has also fallen from Rs 54.81 billion to Rs 12.60 billion.
EDF approves export-oriented projects worth Rs 243 million
ISLAMABAD (October 10 2008): The Export Development Fund (EDF) here on Thursday approved various projects worth Rs 243 million relating to promotion of exports in various sectors.
The meeting chaired by Chaudhry Ahmed Mukhtar, Federal Minister for Defense, Commerce and Textile Industry was attended by Senator Ilyas Ahmad Bilour, Secretaries Commerce and Textile Industry, Chief Executive, Trade Development Authority of Pakistan, Secretary TDAP.
Representatives of Ministries of Finance, Food and Agriculture, Industries and Production, State Bank of Pakistan, and Federation of Pakistan Chambers of Commerce and Industry, Presidents of Karachi Chamber of Commerce and Industry, and Sarhad Chamber of Commerce and Industry as well as Chairmen of prominent Trade Associations.
The EDF also approved construction of building of Pakistan Institute of Fashion and Design, at Johar Town, Lahore with cost of Rs 190 million and a budget of Horticulture Development and Export Board, Lahore for the year 2007-08 and 2008-09.
Japanese investors invited to invest in Sialkot EPZ
SIALKOT (October 10 2008): Economic Adviser to Embassy of Japan in Pakistan Eriko Murata on Thursday visited Sialkot Chamber of Commerce and Industry (SCCI) to discuss various issues pertaining to bilateral trade with the business community of Sialkot. Speaking on the occasion, acting President of SCCI Ziaullah Mirza invited the Japanese investors to invest in Sialkot Export Processing Zone (SEPZ) and avail of the most attractive benefits and incentives.
He said that the SEPZ would open a new era of industrial revolution and foreign investment in this region. "It is encouraging that the two countries have developed institutionalised mechanism for bilateral consultation on various matters, including the security dialogue, counter-terrorism talks and economic policy dialogue that is the manifestation of strength of co-operation and understanding on bilateral and global issues," he said.
Expressing his confidence, he said that Japanese business community would avail full advantage of our liberals' investment regime and strategic location. He said: "We would like to encourage Japanese investors to utilise the investment opportunities in Pakistan, especially information technology (IT), manufacturing and agro-based industries." He also welcomed the progress being made by Pakistan-Japan study group to promote trade and investment and for exploring a free trade agreement (FTA).
Zia further said that an important factor of Japan's success lay in the promotion of small and medium enterprise. As a result of the policy of SMEs promotion, majority of small companies was providing employment to approximately 64.5 million people and 30 percent exports came from the SMEs, he said.
Undoubtedly, the SMEs had been instrumental in bringing out spectacular growth in Hi-tech and value-added industries in the developing countries, he added. The acting President of SCCI further said that in Pakistan, the SMEs were playing a key role, and they were being encouraged through a well-defined programme. Zia Mirza was of the opinion that exchange of trade delegations and one-to-one meeting of businessmen of both the countries was vital to improve bilateral trade.
For this both the countries must ensure simple via policy so that the businessmen could get visas easily. The private sectors of Pakistan and Japan should come forward and interact more frequently to explore and develop co-operation in mutually beneficial fields, he added.
Business Recorder [Pakistan's First Financial Daily]