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 Editorials[1-2 of 2 stories]  

Land to the rural landless
EDITORIAL (September 03, 2010): In a telephonic address to party legislators, Altaf Hussain has directed them to table a Land Reform bill in Parliament aimed at abolishing the feudal system. According to Altaf, the bill should set a limit of maximum landholding and require the distribution of the excess land among poor farmers. The MQM supremo also maintained that he had realised that feudalism and Pakistan cannot exist together.



A serious blow to Pak-US military relationship
EDITORIAL (September 03, 2010): Quintessentially, the people of Pakistan have no heart in the so-called US-led war on terrorism, so much so that our government has to keep insisting 'it's our war'. Until 9/11, the Taliban were Pakistan's strategic allies, mindful as they were that Pakistan played a key role in putting them into power by helping roll-back the Soviet invasion of Afghanistan.



Islamic countries' aid for Pakistan
EDITORIAL (September 02, 2010): Maintaining close relations with the Islamic countries has always been a major pillar of Pakistan's foreign policy. Even before the creation of Pakistan, Quaid-e-Azam Mohammad Ali Jinnah supported the struggle of the Indonesian people aimed at gaining freedom.



Yet another hike in electricity tariff
EDITORIAL (September 02, 2010): According to a Business Recorder exclusive, the Business Plan for the energy sector - cleared by multilateral donor agencies - dictating specific reforms of the sector as part of the monetary assistance package that is largely provided at market rates - as well as by relevant domestic ministries/department, has been approved.



Moratorium from IMF?
EDITORIAL (September 01, 2010): It has been reported in a section of the press that the government is considering seeking a 1.2 billion dollar moratorium for a one year period from the International Monetary Fund (IMF). The rationale for this request is the massive loss of assets, both in the private and the public sector, as well as a significant loss of national economic activity due to the devastating floods that would automatically have implications for the country's domestic tax/revenue collections.



Additional high court judges
EDITORIAL (September 01, 2010): But for the Supreme Court's timely decision to extend the tenure of 32 additional judges of all the four high courts, the people's right to justice would have been seriously compromised. Within the month of September, these judges were supposed to have retired as their appointments were subject to renewal, which was not being done.



Don't belittle NGOs' role
EDITORIAL (September 01, 2010): How often his subordinates have to reword and reinterpret his statements, Prime Minister Yousuf Raza Gilani is never troubled; he would pour his heart out at the slightest provocation least worrying about the consequences. That his very solemn commitments, some made from the floor of parliament, vanish in the thin air, the very next day, that's not his bother.



Profitability of banking sector
EDITORIAL (August 31, 2010): The banking sector of Pakistan continues to be in good shape, despite the poor performance of the economy in a number of other areas. Its profits reached Rs 35.5 billion in the first half of 2010, as compared to Rs 26.6 billion in the corresponding period last year, depicting a sharp increase of Rs 8.9 billion or 33 percent.



Life ban for cricketers if guilty
EDITORIAL (August 31, 2010): A strong wave of grief, shock and shame pervades the country since the revelations of British tabloid News of the World about the involvement of seven Pakistani cricketers, including captain Salman Butt, fast bowlers Mohammad Asif and Mohammad Amir, in a match-fixing scam.



A tenacious relationship
EDITORIAL (August 30, 2010): Pakistan's record in adhering to the performance criteria agreed with the IMF, under the Stand-By Arrangement, continues to be poor. In the latest macroeconomic review going on in Washington, the country's authorities are reported to have sought three waivers from the Fund.


  

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The Rupee
Interbank closing rates for dollar on Thursday.
BuyingRs 85.60
SellingRs 85.64
Dollar recedes
7481.03  73.24
Sectoral Indices 
Market at Close
BRIndex-30 7,554.27
KSE-30 Index 9,636.05
KSE-100 Index 9,762.89
LSE-25 Index 3,090.62
ISE-10 Index 2,516.63
Gold Per 10gm 33,900.00
KCA Spot Rate 6,300.00
Libor Rate 0.49669
World Indices
Index Closing Chg%
DJIA 10,320.10 0.49
Nasdaq 2,200.01 1.06
S&P 1,090.10 0.91
FTSE 5,371.04 0.10
DAX 6,083.85 0.05
CAC-40 3,631.43 0.21
Nikkei 9,062.84 1.50
H.Seng 20,868.82 1.19
Sensex 18,238.31 0.18
NY Closing
Euro 1.2824
Sterling 1.5394
Swiss Franc 1.0130
Yen 84.2700
Gold 1252.80
Cotton 89.490
Oil 74.92
Economic Indicators
Annual2009/10
Foreign Debt $53.01bn
Per Cap Income $1046
GDP Growth 4.1%
Average CPI 11.73%
MonthlyJuly
Trade Balance $-1.45 bln
Exports $1.78 bln
Imports $3.24 bln
WeeklySeptember 02, 2010
Reserves $16.12 bln
 









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