KARACHI: Karachi Stock Exchange (KSE) continued to remain in the grips of bears on the third consecutive day as the benchmark KSE-100 Index further slides by 49 points to 9,301 on Thursday.
The Index today began its march in the positive zone but the early hour gains were eroded when investors opted to off load their holdings in energy and banking sectors.
The trade volume was recorded at 220 million shares.
Jehangir Siddiqui Company was today’s volume leader which eased paisas 43 to close at Rs.38.75.
KSE-30 Index lost 85 points to peg at 9,946.
ISLAMABAD: Chief Justice of Pakistan Justice Iftikhar Muhammed Chaudhry Thursday directed concerned authorities to ensure the sale of sugar at Rs40/kg until the Competitive Commission of Pakistan (CCP) presents its report on the issue, Geo News reported Thursday.
Moreover, he suggested setting up an independent commission to specify the sugar prices. All the stakeholders have been directed to mull over the suggestion and submit their response to the court tomorrow.
He said there are two sides of the sugar prices—on one side, there are 170 million people of Pakistan and on the other, all the governments are united.
Wondering how the government filed an appeal against high court’s verdict, he directed Attorney General and Advocate Generals to bring their respective rules of business, which have justified it.
During the hearing of a case regarding sugar prices, CJ Iftikhar said they should have implemented on the verdict of High Court, instead of challenging the verdict in the higher court.
He faced the government officials and said, ‘You came here for the perpetuation of this cartel and that sugar be sold at Rs60/kg.’
On this occasion, Acting President Javed Kiani was summoned a the court for submitting a fake document and the CJ directed Chairman Sugar Mills Association Iskandar Khan to present to the court the original meeting minutes and the record of the meeting. He also warned if the required documents were not submitted, the consequences would have to be suffered.
WASHINGTON: Stressing linkages between Pakistan, India and Afghanistan with regard to durable peace and stability in South Asia, the United States on Wednesday said it encourages dialogue between Islamabad and New Delhi for developing a stable bilateral relationship. Assistant Secretary of State for Public Affairs Philip J Crowley said the U.S. is focused on the region and “understands clearly the importance of Afghanistan, the importance of Paki .... Full Story
ISLAMABAD: Federal Interior Minister Rehman Malik told the Senate’s standing committee that there are at least 5000 Pakistanis jailed in Britain, Geo News reported Thursday.A meeting of Senate’s standing committee on Interior was held at Nadra Headquarters here.Tabling a report on the released Pakistanis from Saudi Arab in drug smuggling case, he said nobody was extradited to the KSA in return for these Pakistanis.There are contradictory reports .... Full Story
ISLAMABAD: US once again accused that Osama Bin Laden is alive and Taliban leadership including Mullah Omar is present in Quetta, Geo News reported Thursday.Talking to media, Deputy Chief of the Mission, US Embassy Gerald M. Feierstein alleged that Osama is present in Pakistan, adding the command system of Taliban is based in Quetta and they are launching their activities from the suburbs of the city.He urged the government of ... Full Story
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