Sep
7
Pakistan Peoples Party Co-Chairman Senator Asif Ali Zardari has been elected as President of Pakistan, winning an overwhelming majority of votes from the Electoral College in the presidential election.
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Senator Zardari secured 479 electoral votes, followed by PML-N candidate retired Justice Saeeduz Zaman Siddiqui getting 153 votes. Mushahid Hussain Syed of Pakistan Muslim League got 43 electoral votes. President Elect Asif Ali Zardari thanked the parliamentarians of PPP and allied parties for supporting him in the Presidential election.
PML-N candidate Justice Saeed Uz Zaman Siddiqui conceded defeat and congratulated Asif Zardari on his victory. PML-Q candidate senator Mushahid Hussain Syed also congratulated Asif Ali Zardari on his election and hoped that being a symbol of federation, he would work for the unity of federation.
Source
Sep
7
Federal Minister for Information and Broadcasting Sherry Rehman has said PPP co-chairman Asif Ali Zardari’s election as the president is the victory of not just PPP but the entire Pakistani nation.
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Talking to media outside the parliament house, she said a new era of democratic stability would dawn today. She said that balance of power between two pillars of the state - parliament and presidency was very necessary.
Sep
7
Prime Minister Syed Yousuf Raza Gilani has said the election of Senator Asif Ali Zardari as President is a victory of democracy.
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Talking exclusively with PTV he said that the parliament has become sovereign after the completion of democratic transition with the presidential election. To a question he said there can be no democracy without opposition and we will take along all the opposition parties and continue the process of reconciliation initated by Mohtarma Benazir Bhutto Shaheed.
Sep
7
Election Commission has officially notified Asif Ali Zardari as winning candidate in Presidential election by securing 481 votes of Electoral College.
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According to official results announced by the commission, PML-N candidate Saeed Uz Zaman Siddique secured 153 votes and Mushahid Hussain Syed of PML-Q secured 44 votes. Source
Sep
7
President elect Asif Ali Zardari has vowed that the parliament will be the sovereign and the President will be subservient to it.
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He was speaking at an Iftar dinner hosted by Prime Minister Syed Yousuf Raza Gilani in Islamabad. In his remarks, Prime Minister Syed Yousuf Raza Gilani said the victory of Mr. Zardari would prove to be a source of strength to the federation. He said as symbol of federation, the PPP would continue to work for strengthening of the country.
Aug
30
The government has announced to give 1.75 billion rupees subsidy on the items of daily use under its Ramazanul Mubarak package.
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Finance minister Naveed Qamar announced the package during a news briefing in Islamabad. He said that from the first of September, the prices of over 1300 items of daily use will be reduced by five to ten percent. He said under the package, the price of Atta will be 15 rupees per kilogram, Ghee 110 rupees, Sugar 33 rupees, Dal Channa 47 rupees, and Basmati Rice Rs 88 per kilogram at the utility stores across the country. The finance minister said the utility stores will remain open throughout the week during Ramazan-ul Mubarak.
He said mobile utility stores will operate in Balochistan and Sindh to provide relief to the people there. He said the government’s monitoring teams will keep strict watch to ensure that the prices remain stable during the holy month. The finance minister said the government is taking strict action to curb the smuggling of wheat flour and to ensure that these items are sold on uniform prices.
Aug
29
Presidential Election
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Political activities in connection with Presidential election gain momentum with the acceptance of nomination papers of the major political parties candidates by the election commission. PPP co-Chairman Senator Asif Ali Zardari talked on telephone with PML-N Quaid Mian Muhammad Nawaz Sharif and requested him to withdraw his Presidential candidate. However, Mian Nawaz Sharif responded that at this stage it was not possible, as the process in the presidential election has gone ahead. PPP leaders Syed Khurshid Shah and Mian Manzoor Watto also met PML-N leadership in Islamabad and discussed matters relating to Presidential election. Prime Minister Syed Yousuf Raza Gilani has gone to Lahore with a view to mustering support for Asif Ali Zardari’s Presidential candidature.
PML (N) Presidential candidate Saeeduzzaman Siddiqui also met PML (Q) President Chaudhry Shujaat Hussain and talked on telephone to MQM leader Altaf Hussain
Source
Aug
24
PPP co-chairman senator Asif Ali Zardari has been nominated as party’s candidate for the office of president scheduled on 6th of the next next month.,
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Addressing a news conference at Zardari house, party’s deputy Secretary General Mian Raza Rabbani said Asif Ali Zardari has accepted the unanimous decision of the central executive council to become presidential candidate. He said leadership of coalition parties has been informed about the decision. He said there is no ambiguity in the restoration of deposed judges as PPP is committed to all its agreements made with the coalition partners. A special committee has already been constituted to prepare the draft of the resolution regarding reinstatement of judges.
Aug
22
Pakistan’s disappointing hockey campaign at the Beijing Games finally came to an end when they were defeated 4-2 against New Zealand to be placed at number 8th today.
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This was Pakistan first ever loss to the Kiwis in the Olympics.
Earlier they also lost to Great Britain in the Olympics for the first time in 56 years.
Pakistan only managed to score two goals as New Zealand trounced the green shirts with utmost ease.
Lack of fitness and flair was eminent on the field as the kiwis tore through the Pakistani defense time and again scoring 4 goals.
Total humiliation was saved as Rehan Butt scored a late second half goal to grab some salvation for his team.
They finished 8th in the 12 team competition and have also failed to qualify for the next Champions Trophy.
Source
Aug
22
Sharia banking may touch $1trn in 2 years
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Today, the Sharia finance and banking industry is one of the fastest growing markets in the world and is estimated to be worth more than US$1 trillion in the next 2 years, according to the UK-based Securities & Investment Institute.
Unaffected by the subprime crisis, projections suggest that this market will grow by 15 per cent per year over the next decade and will account for 60 per cent of the savings of the world’s 1.2 billion Muslim community, in that same period.
The Securities & Investment Institute (SII), the leading financial services educational body in the area of Islamic finance, first announced the development of its benchmark Islamic Finance Qualification (IFQ) in 2005.
This is said to have captivated global interest, and last year the IFQ was sat by 285 candidates around the world. SII has designated Singapore as its first choice for the regional launch of the IFQ. The Institute is also working with financial services regulators throughout the Middle East including all the Gulf Corporation Council countries (GCC).
IFQ is sold in 53 countries and has become a required qualification in a number of finance houses and government institutions around the globe. It has just become the first and only Islamic finance qualification on the UK list of recommended examinations.Singapore as a regional economic hub is said to be ideally located to reach to the developing countries of S.E. Asia to provide service and products to the rapid growth in the Islamic Finance industry.
The launch of the SII Islamic Finance Qualification from Singapore provides the perfect tool for consumers in the region to gain the prerequisite background to assess wholesale instruments, such as Sukuk, Islamic bonds or retail products such as Islamic mortgages.
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