IMF initiates process for electing new Chief

The post went vacant following former International Monetary Fund managing director Dominique Strauss-Kahn resigned in the wake of a sex scandal.

An individual “may be nominated for the position of managing director by a Fund governor or an executive director during a nomination period which shall commence on May 23, 2011 and will close on June 10, 2011,” said the IMF.

The board s aim “is to select the managing director by consensus with the objective of completing the selection process by June 30, 2011.”

French Finance Minister Christine Lagarde emerged as Europe s choice to lead the IMF, getting a boost when a Turkish favourite ruled out his candidacy for the powerful job.

Meanwhile, former IMF chief Dominique Strauss-Kahn has left jail and is believed to be staying in an apartment in lower Manhattan.

PIA plane with 468 Haj pilgrims aboard lands in Karachi

Staff Report

KARACHI: A Pakistan International Airline’s plane with 468 Haj pilgrims on board landed at Karachi airport on Sunday.

The flight was late by three hours.

PIA’s Managing Director greeted the pilgrims at the airport.

About 10.26 million Pakistanis went to Saudi Arabia for the annual Haj pilgrimage.

Speaking to media, several Haj pilgrims lashed out at the government for making poor arrangements in Mecca. Trend Pk

PIA plane with 468 Haj pilgrims aboard lands in Karachi

Staff Report

KARACHI: A Pakistan International Airline’s plane with 468 Haj pilgrims on board landed at Karachi airport on Sunday.

The flight was late by three hours.

PIA’s Managing Director greeted the pilgrims at the airport.

About 10.26 million Pakistanis went to Saudi Arabia for the annual Haj pilgrimage.

Speaking to media, several Haj pilgrims lashed out at the government for making poor arrangements in Mecca. Trend Pk

SC declares Oct.15’s ruling as the final verdict on judges notification reversal case

Staff Report

ISLAMABAD: The Supreme Court of Pakistan has declared it’s ruling of October 15 the final verdict on the judges restoration reversal case, while saying that all concerned officials are bound to follow it under Article-190 of the constitution.

A 17 member Supreme Court bench headed by Chief Justice Iftikhar Muhammad Chaudhry conducted the hearing of the case.

Attorney General Maulvi Anwar-ul-Haque informed the court in a preliminary report that all of the concerned circles had been informed about the court’s order in the news, regarding the cancellation of judges restoration order.

He added that the government has formed a committee to probe the matter and has summoned the Managing Director and reporter of the private TV channel for an inquiry.

The Chief Justice inquired whether anyone from the government wished to issue a

PM Gilani sacks two NRO beneficiaries

Staff Report

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani sacked two National Reconciliation Order (NRO) beneficiaries, Pir Mukarram and Sadiq Ali Khan on Wednesday.

Pir Mukarram, the Executive Director of Printing Corporation, will not be able to use privileges given by the corporation. His termination will be recorded as of September 8, 2009.

Sadiq Ali Khan, Managing Director of Federal Employees Benevolent Group Insurance, will be considered terminated from August 14, 2009. SAMAA

Every family will get 5 kg sugar from utility stores

ISLAMABAD: The Managing Director of Utility Stores Corporation Muhammad Arif said subsidy of Rs 3 billion would be given at different edible items during the month of Ramzan.

While talking to Geo News, Muhammad Arif said that every will get at least 5 kg sugar at subsidies rates. Replying to a question, MD Utility Stores said utility stores will provide maximum facility to public during Ramzan.

Every family to get 5 kg sugar from utility stores

ISLAMABAD: The Managing Director of Utility Stores Corporation Muhammad Arif said subsidy of Rs 3 billion would be given at different edible items during the month of Ramzan.

While talking to Geo News, Muhammad Arif said that every will get at least 5 kg sugar at subsidies rates. Replying to a question, MD Utility Stores said utility stores will provide maximum facility to public during Ramzan.

Power resorted in most parts of Karachi: KESC

KARACHI: Managing Director KESC has said after long and hard efforts, the officials from his company have succeeded to restore electricity supply in most parts of metropolis, which had gone out of order due to heavy rains, Geo news reported.

Attock refinery closure imminent on debt woes

ISLAMABAD: The closure of Attock refinery is imminent if circular debt issue could not be resolved, Senate’s standing committee for Petroleum briefed.

Pakistan State Oil (PSO) Managing Director told the committee that PSO would have to pay Rs.123 billion to refineries whereas government has to pay Rs.131 billion to PSO.

MD PSO said if the issue of circular debt could not be resolved, supply of oil to military could be suspended in north region.

The officials of Finance Ministry informed the committee that recovery of PEPCO has been reached to Rs.98 billion and Rs.101 billion has been paid for FATA bills. PEPCO is responsible for circular debt issue, they added. The committee has summoned a joint meeting of petroleum and energy committee on June 9.

Additional off day saves 603 MW electricity: MD PEPCO

ISLAMABAD: Managing Director Pakistan Electric Power Company (PEPCO) Tahir Bisharat Cheema Monday said that an additional weekly off is helping in saving 603 MW electricity.

Briefing the senate standing committee on water and power, Tahir Bisharat Cheema said up to 850 MW electricity has started to be conserved.

The meeting chaired by Lashkari Raisani was also attended by Chairman WAPDA Shakil Durrani.

Durrani told the meeting that construction of Diamer-Bhasha dam will begin in July this year.

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