NHA turns into sick unit, loans exceed Rs 2.2 trillion

    By NewzTodays Editorial Team | November 3, 2020

    Aftab Ahmed The National Highways Authority (NHA) turns into another sick unit and its loans have exceeded Rs 2.2 trillion. The higher loans have made NHA a non-financially viable entity. Now, NHA is not in a position to pay out its loan installments. The government had established Pakistan International Sukuk Company Limited (PISCL) and Pakistan Domestic…

    Govt finally cancels Askari Air license

    By NewzTodays Editorial Team | November 3, 2020

    Govt also refuses to refund security deposits Aftab Ahmed The PTI government has finally canceled the license of M/s Askari Air (Pvt) Ltd. The government decides a lapse of around one year. The airline had applied for cancellation of license in June last year. It hoped to receive a security deposit as a result of…

    Poor coverage, overbilling: Jazz beats other Telecos again

    By NewzTodays Editorial Team | November 2, 2020

    Aftab Ahmed Jazz Pakistan maintains the top position with half of the complaints against telecom firms relating to its consumers. Pakistan Telecommunication Authority (PTA) has conducted a survey. Jazz Pakistan holds a 36 % market share in the country. The maximum number of complaints comprises—50%–of all three parameters in six cities. Out of the seven…

    Kerosene oil scam leads to sacking GM PSO

    By NewzTodays Editorial Team | October 31, 2020

    Aftab Ahmed Kerosene oil is a sweet business for dealers. So, it led to the sacking of General Manager Pakistan State Oil (PSO). The new management of Pakistan State Oil (PSO) had pointed out a scam of kerosene oil. It came to know during March when the Covid-19 outbreak took place in Pakistan. So, Boar…

    Saudi Arabia shelves $10 billion oil refinery project

    By NewzTodays Editorial Team | October 31, 2020

    Aftab Ahmed Saudi Arabia has shelved a plan of setting up a refinery worth $10 billion in the oil city of Gwadar Port. Saudi Arabia had announced to invest $20 billion in Pakistan during a visit by King Salman in February this year. Out of this, it pledged to invest $10 billion to set up…

    7th Sky Entertainment Brings another drama ‘Fitrat’

    By NewzTodays Editorial Team | October 30, 2020

    News Desk The forerunner of the Pakistani entertainment industry, 7th Sky Entertainment, is bringing another exciting project for the viewers, titled ‘Fitrat’. Producers Abdullah Kadwani and Asad Qureshi,  are making a lead to produce this drama’. They will make it on-air on Geo Entertainment from November 2. The story of ‘Fitrat’ revolves around a young…

    Zaidi protests over denying first right to PNSC

    By NewzTodays Editorial Team | October 30, 2020

    Aftab Ahmed The Minister for Maritime Affairs has protested over denying the first right of the Pakistan National Shipping Corporation (PNSC) for shipping imported products. He had taken up the matter of PNSC several times on different forums. Now, he took up the matter of PNSC in a recent meeting of the cabinet. Zaidi raised the…

    ECC approves Rs 1000 per bag fertilizer subsidy

    By NewzTodays Editorial Team | October 29, 2020

    Aftab Ahmed The Economic Coordination Committee (ECC) on Thursday approved Rs.1000 per bag subsidy on fertilizer under 50 kg bag. The ECC approved the subsidy under PM’s Package for Rabi Crops in a bid to provide relief to farmers. Moreover, the government will give Rs.1000 per 50 kg bag subsidy on fertilizers; DAP, P, and…

    OGRA suspends 5 more OMCs licenses

    By NewzTodays Editorial Team | October 29, 2020

    Aftab Ahmed Small Oil Marketing Companies (OMCs) are under the radar of the regulator. However, multinational companies like Shell and Total have exceptions. The multinational companies were also involved in the oil shortage in June this year and faced a fine from the regulator. However, the OGRA has suspended another five Oil Marketing Companies (OMCs)…

    FFC records Rs 4.6 billion profit

    By NewzTodays Editorial Team | October 28, 2020

    Fauji Fertilizer Company Limited (FFC) profitability clocked in at Rs4.6 billion 3QCY20. The FFC profitability is up 30% YoY against Rs3.6billion in 2QCY19. As a result, a dividend payout is Rs2.55 per share. The result is in line with expectations. Furthermore, in a notice filed to PSX, FFC has disclosed that BOD has approved the submission…