Gwadar: NFC Award signed

Updated at: 1442 PST, Wednesday, December 30, 2009

GWADAR: The Chief Ministers of four provinces signed the historic 7th National Finance Commission Award (NFC) on Wednesday.The ceremony was witnessed by Prime Minister Syed Yusuf Raza Gilani and members of his cabinet.The Award was inked by the finance ministers of the four provinces in the presence of Punjab Chief Minster Shahbaz Sharif, Sindh Chief Minister Qaim Ali Shah, NWFP Chief Minister Ameer Haider Hoti and Balochistan Chief Minister Aslam Raisani and Finance Minister Shaukat Tarin.Under the NFC Award provinces will get 56 percent share of the federal revenues and 44 share has been allocated for the centre.

LHC directs Malik to file new petition for pardon

Updated at: 1319 PST, Tuesday, December 22, 2009

LAHORE: Lahore High Court (LHC) has rejected the plea of Interior Minister Rehman Malik for suspension of sentence and directed him to file a new petition.A division bench headed by LHC Chief Justice Khawaja Muhammad Sharif while hearing the application said the sentence awarded in absentia could not be suspended through an application filed under section 426 of criminal code.The court has directed Rehman Malik to file a new petition under article 199 of constitution. LHC said law should be equal to everyone and the impression of two different laws for common man and a minister should not be created. The lawyer of interior minister said he will file the new petition today for suspension of the punishment.

SBP submits list of write off loans to SC

Updated at: 1453 PST, Tuesday, December 22, 2009

ISLAMABAD: State Bank of Pakistan submitted a list of the individuals and organizations that had got 193 billion rupees bank loans written off from 1997 to 2009.The State Bank report said that there was 78 billion rupees principal amount in the written off loans of 170 billion. The overall amount also included Rs 31 billion markup and 92 billion losses and other financial expenses.

Modi threatens to terminate Australian players’ contracts

Updated at: 1513 PST, Tuesday, December 22, 2009

MUMBAI: Chairman Indian Premier League Lalit Modi has threatened to terminate contracts of Australian cricketers and ban State sides from the Champions League if they fail to release their players for the third edition of the T20 event.Dates of the last round of the Australia's domestic competition -- Sheffield Shield -- and the mega BCCI event are clashing but Modi wants States sides to release their contracted players for the competition.Modi said they respect players' commitments to their countries but would not mind if players skip domestic duties for IPL.The IPL 2010 season is in March-April, when a lot of domestic tournaments will still be on. This is a one-off situation. The IPL requires No-Objection Certificates from the home boards for players to participate in IPL.

Modi threatens to terminate Australian players’ contracts

Updated at: 1513 PST, Tuesday, December 22, 2009

MUMBAI: Chairman Indian Premier League Lalit Modi has threatened to terminate contracts of Australian cricketers and ban State sides from the Champions League if they fail to release their players for the third edition of the T20 event.Dates of the last round of the Australia's domestic competition -- Sheffield Shield -- and the mega BCCI event are clashing but Modi wants States sides to release their contracted players for the competition.Modi said they respect players' commitments to their countries but would not mind if players skip domestic duties for IPL.The IPL 2010 season is in March-April, when a lot of domestic tournaments will still be on. This is a one-off situation. The IPL requires No-Objection Certificates from the home boards for players to participate in IPL.

Property of tax defaulters will be auctioned: FBR

Updated at: 1421 PST, Tuesday, December 22, 2009

KARACHI: The chairman Federal Board of Revenue (FBR) said list of 921 tax defaulters and details of their moveable and immoveable assets has been handed over to IRS commissioner.Talking to Geo News, Chairman FBR Sohail Ahmad said first time in eight years, the property of tax defaulters will be auctioned, their accounts will be freeze and arrest will be made. He said tax evolution will be made on the income of tax defaulters from January 1 to March 31. The additional tax of Rs. 75 billion will be recovered from tax defaulters till June 2010, he added.

Two gunned down in Baghdad

Updated at: 1507 PST, Tuesday, December 22, 2009

BAQUBA: Two persons were gunned down on Tuesday close to the town of Baquba while leaving a mosque after carrying out rituals as part of the Shiite religious commemoration of Ashura, police said. "Men in a car opened fire on worshippers who were leaving the mosque, where they were participating in flagellation as part of preparations for Ashura, killing two of them," said a police officer. The shooting occurred in the village of Berginiyah, east of Baquba and northeast of Baghdad. Meanwhile, in Fallujah, a former insurgent bastion just west of Baghdad, the head of the town's city council Hamid Ahmed al-Hashim was wounded when a magnetic "sticky bomb" was attached to his car as he left his home. Also wounded in the attack, which occurred at 10:00 pm (1900 GMT) on Monday, was police Captain Mohammed Shikhan, who was in the car, police said.