SBP issues report of 1st quarter performance

The State Bank of Pakistan has issued its report on the financial performance of the country in the first quarter of 2010-2011.

According to the report, it is expected that performance of agri sector would be improved in the coming months. It is said in the report that inflation remained higher than expected during the first six months of the financial year and this will continue in the coming months thats why SBP has estimated inflation at 15-16 percent in 2011.

Zulqarnain’s report ready before PCB

Staff Report

LAHORE: The three member fact finding committee of Pakistan Cricket Board (PCB) on Monday has presented the report regarding the issue of Zulqarnain Haider, wicketkeeper.

According to spokesman of PCB, the committee formed under supervision of the team manager, Intekhab Alam, has submitted a detailed report on Zulqarnain’s sudden disappearance from Dubai and departure to London.

The report contained the details about wicketkeeper’s sudden disappearance and non co-operation with team management. Trend Pk

Zulqarnain’s report ready before PCB

Staff Report

LAHORE: The three member fact finding committee of Pakistan Cricket Board (PCB) on Monday has presented the report regarding the issue of Zulqarnain Haider, wicketkeeper.

According to spokesman of PCB, the committee formed under supervision of the team manager, Intekhab Alam, has submitted a detailed report on Zulqarnain’s sudden disappearance from Dubai and departure to London.

The report contained the details about wicketkeeper’s sudden disappearance and non co-operation with team management. Trend Pk

Pak Cooperating Nato Forces in Afg: Pentagon

WASHINGTON: The Pentagon admitted Tuesday in a report that progress has been “uneven” in the war in Afghanistan, with only modest gains against the Taliban insurgency despite a surge of US and NATO troops.

However, US military admitted rising cooperation by Pakistan being extended to Nato forces fighting with Taliban insurgents in Afghanistan, persisting that Pak-Afg border regions were safe heavens for Taliban.

The cautious tone of the report offered a contrast to more upbeat public declarations from top officials and military leaders, who have touted encouraging signs and said the US military has gained the initiative on the battlefield.

“Progress across the country remains uneven, with modest gains in security, governance, and development in operational priority areas,” according to the report issued to Congress.

Violence was at an all-time high in the nine-year-old war as coalition forces try to roll back the Taliban from cities and towns, with combat incidents up 300 percent since 2007 and 70 percent since last year, it said.

The report described limited progress by the NATO-led force in the southern provinces of Helmand and Kandahar, longstanding Taliban bastions that have been the focus of an influx of 30,000 American troops.

“While kinetic activity is at a historic high, we are seeing some early indications that comprehensive COIN (counter-insurgency) operations are having localized effects in portions of Helmand and Kandahar Provinces,” said the report, a semi-annual update delivered to Congress.

Despite the presence of nearly 100,000 US troops and nearly 50,000 other foreign forces, the insurgency remained resilient and efforts to cut off safe havens and supply links to neighboring Iran and Pakistan “have not produced measurable results,” according to the report, which covered April to September.

While NATO and Afghan forces have “increased pressure on insurgent networks over the past several months, the insurgency has proven resilient with sustained logistics capacity and command and control,” the Pentagon said.

The insurgency “retains momentum in certain areas” while in others the momentum was shifting in favor of Afghan and NATO-led forces, it said.

The gap between the administration’s portrayal of the war and the official report to Congress in part reflects divisions between US intelligence agencies and the rest of the government, with the spy services tending to take a more pessimistic view, officials said.

One senior defense official, who asked not to be named, told journalists that the report focused on conditions through September and did not reflect “important progress” in recent weeks in military operations surrounding Kandahar city.

Describing the state of the insurgency, the report said the Taliban and its allies were adept at propaganda, exploiting widespread dissatisfaction with the corruption-plagued Kabul government.

The Taliban aimed to inflict enough losses on coalition forces to undermine international support for the war effort and “prompt a rapid withdrawal of foreign forces from Afghanistan,” it said.

The report cited the training of Afghan security forces as “one of the most promising areas of progress,” with the Afghan army and police reaching recruitment goals in July, ahead of an October target.

The quality of the Afghan forces and a high attrition rate remained cause for concern, however, according to the report, which was written in coordination with intelligence agencies, the State Department and other government departments.

Tehran: Assad meets Ahmadinejad

Syrian President Bashar al-Assad and Iranian President Mahmoud Ahmadinejad met in Tehran and discussed bilateral relations, including investment, development and increasing trade between the two countries.
The two leaders also expressed their support for the formation of an Iraqi national unity government that represents all Iraqis, and Ahmadinejad briefed Assad on developments related to Irans nuclear programme, the report added.

Weekly inflation plunges by 0.8pc

Inflation rate in the country plummeted by 0.8 percent to 8.68 percent.
According to the Federal Bureau of Statistics, the last week witnessed a jump-up in the prices of 23 essential commodities while 8 commodities experienced a decrease in prices.
According to the report, the price of eggs, flour, rice, meat, ghee and grains went up while price of potatoes, onions, tomatoes, chicken and sugar plunged.

Massive landslides leave at least 65 dead in Chnia

BEIJING: At least 65 people have been killed in landslides triggered by heavy rain in flood-hit China, state media reported Sunday, in the latest natural disaster to strike the nation.

The landslides in a mainly Tibetan region of Gansu province, in the northwest, happened on Saturday night, the official news agency reported, citing Mao Shengwu, the head of the affected prefecture.

Authorities have deployed 2,400 soldiers and about 100 medical experts to help in search and rescue efforts, state television said.

Electricity has been cut in part of the area — the latest region of China to be hit by torrential rain.

Landslide in China leaves over 80 dead, 2,000 missing

BEIJING: More than 80 people are dead and over 2,000 are missing after landslides triggered by heavy rain in northwestern China, state media said Sunday.

More than 70 were injured in the landslides in a mainly Tibetan region of Gansu province late Saturday night, state television said.

A total of 20,000 people living in Zhouqu county have been evacuated, the report said.

Forex reserves dip by $53.3mn

KARACHI: Pakistan”s total liquid foreign reserves stand at dollars 16.5045 billion, showing a decline of 53.3 billion dollars, said a statement issued by State Bank of Pakistan (SBP) here on Thursday.

Foreign reserves held by State Bank amounted to dollars 12.7261 billion. Whereas net foreign reserves held by banks other than SBP figured dollars 3.7784 billion.

PSM, FIA agree to withdraw FIRs against dealers

KARACHI: Pakistan Steel Mills (PSM) and Federal Investigation Agency (FIA) agreed to withdraw FIRs against the dealers, Geo News reported.

In a meeting between, Acting PSM CEO Imtiaz Lodhi and DG FIA Zafarullah Khan it was agreed that the two would jointly present the report before the Supreme Court.

DG FIA told Geo News that he informed the DG FIA that no money was due from the dealers upon which the later agreed to withdraw the FIRs.

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