Jul fertiliser offtake falls
Urea sales down 15pc, DAP drops 78pc. Urea offtake dropped 14.6 per cent YoY to 528k tonnes in the month of July 2010 against 618k tonnes during the identical period of last year, according to the latest fertiliser data. more... (TFD)

Multinational companies, others: distributors reluctant to pay one percent turnover tax
Distributors of multinational companies and pharmaceutical sector etc making annual turnover in billions are reluctant to pay one percent turnover tax, reflecting highest level of non-compliance by rich class earning huge profits on monthly basis. more... (BR)

Profit after tax of Service Industries increases
The profit after tax of Service Industries Limited has increased to Rs 233.577 million in the half year period ended on June 30, 2010 as compared to Rs 196.675 million earned in the corresponding period in 2009. The board of directors of the company, in its meeting held on August 28, 2010, declared that the company's earning per share has increased to Rs 19.42 in the period under review against Rs 16.35 in the same period a year back. more... (BR)

Supreme Court extends term of 32 judges
The Supreme Court ordered on Monday extension of the tenure of all 32 additional judges of the four high courts till its final decision on petitions challenging the 18th Amendment. The judges are to complete their one-year term on different dates next month. more... (D)

'Ijaz Butt should be sacked, PCB dissolved'
In light of the spot fixing scandal, PCB Chief Ijaz Butt should be sacked or the entire Standing Committee on Sports will resign, stated Chairman National Assembly’s Standing Committee on Sports, Iqbal Muhmmad Ali. more... (T)

IMF insists on tax, energy reforms
The International Monetary Fund continues to insist on more tax and energy sector reforms within the current fiscal year, despite its concerns about the impact of the 2010 flood on Pakistan’s economy, officials say. more... (D)

Carmakers’ net grows twofold
Auto assemblers showed a remarkable performance during the quarter ended on June 30 2010, as the net profit of the auto sector grows robustly by 99.9 per cent to Rs1.46 billion in April-June 2010 from Rs733 million in April-June 2009 mainly driven by surge in volumetric sales and higher other income. more... (TFD)

PSO tenders for HSFO, jet fuel oil
Pakistan State Oil (PSO) has issued a tender seeking up to 780,000 tonnes of high-sulphur fuel oil (HSFO) and up to 82,500 tonnes of jet fuel for October-November, a tender document showed Monday.
The state-owned company planned to buy five 65,000-tonne lots of HSFO to be delivered each month with an option to purchase another two more parcels. It will also buy two 16,500-tonne lots of jet fuel each month with an option for another cargo in November, the document showed. The tender will close on Sept 15 with bids remaining valid until Sept 17. more... (TFD)

Eight oil, gas fields in Balochistan: OGDC facing difficulty in starting drilling
The Oil and Gas Development Company Limited (OGDC) is facing difficulty in starting drilling on eight oil and gas fields which are still under 'force majeure' due to the inability of the Balochistan government to provide security, Business Recorder has learnt. more... (BR)

Standard Chartered Bank Limited
The Board of Directors in the meeting held on 30 Aug 2010, has approved the un audited condensed annual financial statments of the company for the half year ended 30 June, 2010.The company reported PAT:PKR1.4bn EPS of 0.35 more... (KSE)

Pakarab Fertilizer Limited
The Board of Directors in the meeting held on 27 Aug 2010, has approved the un audited condensed annual financial statments of the company for the half year ended 30 June, 2010.The company reported PAT:PKR1.165bn EPS of 2.55 more... (KSE)