Aftab Ahmed ISLAMABAD: The Islamabad High Court (IHC) has ordered the immediate dismissal of National Bank of Pakistan (NBP) Chairman Zubyr Soomro and President/Chief Executive Officer Arif Usmani from their positions. The reserved verdict was announced by Justice Mohsin Akhter Kiyani on Tuesday. On June 12, the IHC reserved its decision on four similar petitions…
Aftab Ahmed Islamabad: To check the further revenue bleeding of more than reported to the Federal Board of Revenue (FBR), the top four powerful sectors—Cigarette, Beverages, Sugar & Cement—will soon have a “Track & Trace” system, Shaukat Tareen shared with mediamen here on Saturday. The last hitch to operationalize the company, who has been awarded…
News Report Budget size of the FY22 budget expected to be around Rs 8487 billion The tax revenue target for FY22 will be around Rs 5829 billion The non-tax revenue target for FY22 will be around Rs 2080 billion The total revenue target would be around Rs 7909 billion As per NFC distribution provinces to…
News Report Moscow: The Russian government has lifted the ban on the import of Pakistani rice after two years when Pakistani authorities assured the Russian to comply with SPS, an official of the Pakistani Mission in Moscow told this scribe. Pakistan has been struggling since 2019 to convince Russian authorities to allow the resumption of…
News Report Islamabad: The ECC of Cabinet has expressed the government’s commitment to providing $1.1 bn for procurement of COVID-19 Vaccine for achieving the vaccination target (minimum 45 million and maximum 65 million) till December 2021. The ECC in its meeting of May 31st, 2021 had already approved $ 130 million (equivalent to Rs. 20…
Balochistan Mineral Exploration Company (BMEC) receives an unsolicited proposal from a domestic joint venture consortium to develop Tanjeel & Rekodiq reserves in Chagai Special Report Quetta: Balochistan Mineral Exploration Company (BMEC) – a JV of Government of Balochistan (90%) and Government of Pakistan (10%) and the concession holder of EL199 (consisting of Rekodiq & Tanjeel…
Aftab Ahmed While breaching the information securities policies and conducting criminal negligence, the SECP Commissioner Shaukat Hussain at the end of his 3-year term as Commissioner took along his official laptop carrying sensitive information, data, reports, investigations, and draft of various policy documents, etc. His 3-year term as Commissioner SECP completed on March 26, 2021….
A leading Pakistan textile Company—Al-Karam Textile Mills—has signed a six-year license agreement with a US top brand in clothing and accessories retails—GAP Inc. Meanwhile, In a tweet, Prime Minister’s advisor on Commerce Abdul Razak Dawood said, “I congratulate Al Karam Textile Mills for signing the six years’ license for home textile with GAP Inc.” The…
Aftab Ahmed US energy giant ExxonMobil has shelved a plan to set up an LNG terminal as it exits a consortium. It was part of a consortium of M/s Energas Terminal (Pvt) Limited, setting up an LNG terminal in Pakistan. Two new terminal operators, M/s Energas Terminal (Pvt) Limited and M/s Tabeer Energy (Private) Limited,…
Our Correspondent PVC prices have increased to USD 1,080 per ton that takes PVC margins to an all-time high of USD 675 per ton. ‘We believe supply disruptions in the international market have caused a significant increase in PVC prices, BMA Capital Management Limited said adding Moreover, if supply disruption continues, we believe PVC margins…