Govt makes questionable appointment of NBP’s President

    By NewzTodays Editorial Team | November 18, 2020

    Special Report The PTI government has made the questionable appointment of the National Bank of Pakistan (NBP) president. The latest surfaced to this one is the President/CEO of the National Bank of Pakistan (NBP). The government made the country’s top public bank appointment by lowering the minimum education criteria from the same post’s previous two…

    Jazz deposits Rs 5 billion Tax to FBR

    By NewzTodays Editorial Team | November 13, 2020

    Our Correspondent Jazz Pakistan, a telecom company, has deposited Rs 5 billion tax to the Federal Board of Revenue (FBR). It deposited the amount in the wake of orders of the Islamabad High Court. The court had directed orders to the Jazz management to deposit Rs 5 billion tax. https://newztodays.com/jazz-pakistan-illegally-transfers-rs-34b-dividends-secp-orders-recovery-from-shareholders/ The telecom giant had defaulted…

    Govt likely to allow 11% return to oil refineries

    By NewzTodays Editorial Team | November 13, 2020

    Aftab Ahmed The government is likely to allow a guaranteed rate of 11 percent return for oil refineries in the new proposed refining policy. At present, 7.5% deemed duty on High-Speed Diesel (HSD) (refinery margin) is also applicable for maintaining refinery profitability. Officials said that oil refineries had suffered multi-billion rupees loss during the lockdowns…

    Cabinet removes CCP Member from Parco

    By NewzTodays Editorial Team | November 13, 2020

    Aftab Ahmed The Cabinet has finally removed the Member Competition Commission of Pakistan (CCP), Ms. Bushra Naz, from the board of directors Pak-Arab Refinery Limited (PARCO). Ms. Malik had not declared her engagement with the CCP throughout the entire shortlisting process. Moreover, the low-down report had not indicated her appointment in CCP. Petroleum Division had…

    Govt to conduct Forensic Audit of dry wells

    By NewzTodays Editorial Team | November 11, 2020

    The petroleum division directed to establish a team of experts and professionals to conduct Forensic Audits of shut-in wells. The team will comprise the public sector E&P Companies and officers of the policy wing to conduct a forensic audit of the shut-in wells drilled in the country. Subsequently, it will analyze all E&P companies’ shut-in…

    PD presses CCI to extend favors to polish firm

    By NewzTodays Editorial Team | November 11, 2020

    Aftab Ahmed The Petroleum Division has proposed the Council of Common Interests (CCI) to amend Petroleum Policy 2012 to favor a Polish energy firm. Polish oil and gas Exploration Company has already availed conversion into petroleum policy 2012 to get higher gas prices. However, Petroleum Division wants CCI to amend the Petroleum Policy 2012 to…

    Cabinet approves establishment of Telecom Tribunal

    By NewzTodays Editorial Team | November 10, 2020

    Aftab Ahmed The Cabinet has approved the Telecom Appellate Tribunal’s establishment to settle disputes in the telecom sector. The Information Technology and Telecommunication Division informed that Section 7(1) of the Pakistan Telecommunication (Re-Organization) Act, 1996 provides. It will settle a dispute of a person aggrieved by any decision or order of the Authority. So it…

    Govt approves Rolling Spectrum Strategy

    By NewzTodays Editorial Team | November 4, 2020

    Our Correspondent The federal government has approved a three-year “Rolling Spectrum Strategy 2020-2023 to ensure faster telecom network speed. Moreover, this is the main goal of the Spectrum Master Plan. Meanwhile, the government incorporated international best practices applicable to Pakistan to develop a report. Furthermore, the Spectrum Master Plan provides a future roadmap for spectrum…

    ECC forms a body to settle Rs 1.6 trillion debt

    By NewzTodays Editorial Team | November 4, 2020

    Our Correspondent The Economic Coordination Committee (ECC) on Wednesday formed a committee to settle Rs 1.6 trillion debt in the oil and gas sectors. Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh chaired the meeting of the ECC. A committee will prepare a well-rounded proposal in a month and submit it before…

    PIBTL crosses 1 million tons coal handling

    By NewzTodays Editorial Team | November 4, 2020

    With handling above 1 million tons in Oct’20, rupee appreciation is also a blessing in disguise for PIBTL. Our Correspondent The PIBTL has handled 1.05 million tons of coal in October 2020 due to higher imports by cement, power, and the general industry. PIBTL volume handling increased by 42% In October 2020  compared to October…