Karachi

CNG sold in Pak at double the India rate

CNG sold in Pak at double the India rateKarachi, Aug 28 : The CNG (compressed natural gas) is sold in Pakistan at more than double the rate of what it is sold at in India, despite the fact that the former is a producer of the fuel and the latter is an importer, said Sindh Bar Council’s (SBC) Human Rights Committee chairman, Adv Aqil Lodhi in a press statement.

He said while in Pakistan CNG is sold at Rs 22 per kg, it is sold at Rs 44.50 in India, and also called for a reduction of the price of CNG to Rs 27.50 per kg.

Astonishingly, 15 pc Karachites support suicide bombings

Karachi, Aug 28 : In a startling revelation, two separate studies conducted by faculty and students at the Aga Khan University in Karachi have found that around 15 percent of the people supported suicide bombing, and said that Islam and other religions supported it.

The two studies looked into the attitudes toward suicide bombing among educated people in Karachi and in the tribal areas. Both found surprisingly divergent results, reported the Daily Times.

15 percent of participants in the Karachi-based study supported suicide bombing and said that Islam and other religions supported it.

Pakistani bourse freezes stock prices as market tumbles

KarachiKarachi- Pakistan's main Karachi Stock Exchange decided on Wednesday to freeze all stocks at current levels after the market plunged another 3.5 per cent amid mounting political uncertainties.

"The board of directors has imposed a cap to stop the key KSE-100 Index from going below 9,000 points," said trader Ateeq Ahmad at Capital One Equities.

Pakistani stocks have lost over 45 per cent since January, including more than 12 per cent in just one week after the resignation of former president Pervez Musharraf and subsequent breakdown of the ruling coalition.

Pakistan's stocks suffer largest loss of year on coalition collapse

Karachi - Pakistan stocks suffered the biggest setback of the year Tuesday, plunging by 4 per cent amid mounting political uncertainty deepened by the break-up of the ruling coalition, traders said.

Traders said the collapse of the alliance in the parliament and conflicting statements from other small, but key partners of the coalition raised concerns about the fragile democratic system.

"There is an air of uncertainty hanging over the presidential elections," said Ahsan Mehnti, chief executive at Shahzad Chamdia Securities.

Pakistan rupee at all time-low on political turmoil, bombing

Karachi  - The Pakistani rupee on Friday hit a record low for the second time in a month following continued political turmoil and the deteriorating security situation, traders said.

The rupee fell to an all-time low of 77.10 against the US dollar in the open market as parliamentary coalition partners are increasingly at odds over reinstating superior court judges deposed by former president Pervez Musharraf last year.

A powerful suicide bombing at a military industrial compound on Thursday that killed at least 70 people has accelerated the crisis of confidence already gripping the markets as businessmen raced to buy foreign currencies fearing a further slide in the rupee.

Pakistan rupee, stocks tumble on political instability

Karachi - Pakistan stocks and the rupee plunged on Thursday as uncertainties over the restoration of judges and the election of a new president continued to cloud the political scene, triggering selling pressure, traders said.

The benchmark KSE-100 Index fell by 2.7 per cent or 289 points to close at 10,236 as investors continued dumping blue-chip stocks, including some energy stocks like state-owned Oil and Gas Development Corp(OGDC).

"The procrastination in restoration of judges against the deadline is casting an uncertainty among investors," said trader Ateeq Ahmed at Capital One Equities.

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