By NewzTodays Editorial Team | July 26, 2021

Abn-e-Ameer Islamabad: The government has booked Rs 81 billion against two new fertilizers plants-Fatima and Engro on account of Gas Infrastructure Development Cess (GIDC). The government has been providing gas to Fatima and Engro Fertilizers Plants at discounted rates at 70 cents. However, these fertilizer plants collected huge money from farmers but did not pay…

By NewzTodays Editorial Team | July 16, 2021

The Economic Coordination Committee (ECC) has approved the import of 200,000 metric tons of sugar to build strategic reserves. Federal Minister for Finance and Revenue, Shaukat Tarin, chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet held at the Finance Division on Friday. The ECC also approved a summary by the M/o…

By NewzTodays Editorial Team | July 16, 2021

Lucky Motor Corporation Limited (LMC) has entered into an agreement with Samsung Gulf Electronics for producing Samsung branded Mobile Devices in Pakistan. Samsung is going to set up a mobile assembly Plant in Pakistan and Lucky Cement Motors has now formed a joint venture with it. In a notice to Stock Exchange, Lucky Cement Limited…

By NewzTodays Editorial Team | July 14, 2021

End of concessionary gas flows along with the payment of GIDC on concessionary flows as per Supreme Court directives would reduce the Engro fertilizers profitability by Rs 4.9 billion and dividend payouts. Engro fertilizers have been receiving gas at a discount rate and the expiry of a gas supply agreement with SNGPL is going to…

By NewzTodays Editorial Team | July 13, 2021

REDtone Digital Services (RDS) has joined the Google Cloud Partner Advantage program to bring cloud technologies to Pakistan. Now, Pakistan will be able to have direct access to google could along with other features to facilitate different sectors. This is a huge achievement for the business ecosystem of Pakistan. Through RDS, public and private sector…

By NewzTodays Editorial Team | July 12, 2021

Foods is a lucrative business in Pakistan that has a lot of potential for investment and Fauji Foods Limited is trying to tap this potential. Fauji Foods Limited (FFL) is working to increase its capital to Rs 28 billion and increasing the size of the retail network in Pakistan to boost the company’s liquidity and…

By NewzTodays Editorial Team | July 8, 2021

Islamabad: With a view to its commitment to constructing Greater Karachi Water Supply Scheme (K-IV) in the shortest possible time, the Pakistan Water and Power Development Authority (WAPDA) on Thursday awarded the consultancy services contract worth Rs.1.14 billion. The JVs comprise an Austrian and two Pakistani firms. The joint consultancy services agreement consists of design…

By NewzTodays Editorial Team | July 8, 2021

PTA margins for Lotte Chemical Pakistan Limited (LOTCHEM) have increased to USD160 per ton that will result in posting robust earnings. LOTCHEM to post robust earnings “We expect LOTCHEM would post profitability of Rs1.0 per share during 2QCY21 on the back of 28% YoY increase in PTA-PX margin despite US$-Rs appreciating by 6% YoY, Foundation…

By NewzTodays Editorial Team | July 8, 2021

Pakistan is launching the Sun Salt project worth $750 million in Gwadar, Balochistan. All Pakistan Salt Association (APSA) informed this during a meeting with an advisor to Prime Minister on commerce Razak Dawood. The association has requested the advisor to withdraw the sales tax the government had imposed in the current budget 2021-22. President association…

By NewzTodays Editorial Team | July 8, 2021

Islamabad: Huawei Pakistan in collaboration with the Higher Commission of Pakistan and NED University Karachi held the Pakistan Educational Summit with the aim to accelerate the digital value of education together. The event took place simultaneously with the Global Huawei Intelligent Education Summit 2021 at NED, University of Engineering Technology, Karachi. The Summit was attended…