KSE index could increase by 25pc: Credit Suisse

KARACHI: Karachi stock market could see a surge in index by 25 percent, following the successes in war against terrorism.

Credit Suisse analyst, Farid Khan in an interview to a foreign agency told this. He said that a surge in the stock market could be seen, as the government has stepped up its operation against the terrorists.

Farid Khan said that Pakistan stock market index could be included in the Morgan Stanley Frontier Index, which would help in reviving the confidence of the investors.

He said that inflation has mellowed down and a further cut in the interest rate by the Central Bank was expected.

Pakistan seeks world aid for IDPs'

UNITED NATIONS: President Asif Ali Zardari appealed for global aid for the hundreds of thousands of civilians displaced by the fighting against Taliban militants.

‘We're appealing to the world, myself and the UN secretary general to draw attention on the human catastrophe that is taking place,’ he told reporters after conferring with UN chief Ban Ki-moon.

‘They civilians are losing their crops, they're losing their earnings, their livelihood and their homes, so we want the world to help us,’ he added.

‘The secretary general has been kind enough to accept our appeal to him and he is going to appeal to the world with us jointly to help Pakistan.’

Ban meanwhile told reporters that in his meeting with Zardari, he expressed his ‘deep concern’ about the humanitarian situation in northwestern Pakistan where commandos are stepping up a punishing offensive against militants that has now displaced more than half a million people.

Tens of thousands of terrified civilians have been streaming out of three battle-torn northwest districts each day, with the UN refugee agency saying that 501,496 stranded people had registered with authorities since May 2.

‘I expressed my deep concern and I expect President Zardari to take all necessary care to protect the civilian population,’ the UN boss said.

‘The UN is ready to stand by to provide the necessary humanitarian assistance.’ Ban said he asked the Pakistani leader ‘to facilitate the smooth delivery of humanitarian assistance and the protection of humanitarian workers,’ adding ‘it is a very serious situation.’

A UN statement said Ban ‘supported the fight against extremism and expressed confidence and trust in the leadership of President Zardari.’

10 militants killed in Lower Dir

Updated at: 1210 PST, Wednesday, May 13, 2009
DIR: Ten more militants were killed during ongoing operation in district Lower Dir.

According to sources, ten militants were killed during overnight shelling at militants’ strongholds in tehsil Maidan of district Lower Dir. The death toll feared to be rise. Three underground bunkers and key hideouts of militants were also destroyed during seucirty forces operation.

Meanwhile, clashes between security forces and militants underway in different areas of Swat as security forces jets pounding militants’ positions. Security forces took control of Landakas area of Mingora and started targeting militants’ hideouts in Peochar. No causality was reported immediately.

Indefinite curfew imposed in district Swat, Lower Dir, Malakand Agency and Shangla created shortage of food in these areas. Thousands of people still trapped in troubled areas whereas several reaching relief camps after traveling through risky mountainous routes.

WB to provide $320 mln for education

ISLAMABAD: World Bank will provide 520 million dollars by June this year to Pakistan out of which 320 million will be used for development of its education sector.

The above amount is in addition to 300 million dollars already announced by Friends of Pakistan.

According to Economic Division sources, the above financial assistance is being provided on easy terms of 0.7 per cent mark up.

The World Bank will provide 200 million dollars to Pakistan in the fourth quarter under Pakistan Safety Net.

APHC urges Kashmiris to boycott Indian polls

SRINAGAR: In occupied Kashmir, the Chairman of All Parties Hurriyet Conference Mirwaiz Umar Farooq has urged people to totally boycott tomorrow’s Indian Parliamentary polls last stage.

The Hurriyet leader addressing a public gathering here said he hoped that Kashmiris would boycott the so-called elections. He said India wanted to divert the attention of the international community from the Kashmir dispute.

Kashmiris boycotted the previous three phases of Indian polls that resulted in low turnout.

Cabinet okays Swat operation

ISLAMABAD: The federal cabinet endorsed on Saturday the ongoing military operation in Malakand division.

In a media briefing following the cabinet meeting, Prime Minister Syed Yousuf Raza Gilani said the cabinet has decided to set up a PM fund for the affectees of military operation with a sum of Rs 200 million deposited.

The prime minister said directives had been issued to all Pakistani missions abroad to step up efforts for global assistance for Internally Displaced Persons (IDPs).

Gilani said the Benazir Income Support Program (BISP) and the ministry of health have been directed to take care of the IDPs. He said a parliamentary delegation will be sent to variouis capital to project Pakistan’s viewpoint on prevailing situation.