Poland concerned over SBP’s restrictions to control foreign reserves

    By NewzTodays Editorial Team | October 7, 2022

    Poland has expressed serious concerns over restrictions imposed by the State Bank of Pakistan and implemented through all commercial banks’ trade sections to control foreign currency reserves. Poland’s Ambassador to Pakistan expressed his concerns towards issues facing some polish companies after a change implemented by the State Bank of Pakistan through all commercial banks’ trade…

    Auto sales of local assemblers may jump 3% despite SBP’s restrictions

    By NewzTodays Editorial Team | October 7, 2022

    Auto sales of local assemblers are likely to improve by a meager 3%MoM to 9,900 units in September 2022. These estimates of auto sales of local assemblers include provisional sales of major local players listed on PSX. Analysts believed that lower demand remains the key factor behind the slump in car sales over the last…

    Poor quality tablets: IT Ministry seeks waiver to procure 150 new tablets for cabinet members   

    By NewzTodays Editorial Team | October 6, 2022

    Report As the cabinet Committee on institutional Reforms (CCIR) has pointed out procurement of poor quality tablets, Information Technology and Telecommunications has approached economic policymakers to allow the procurement of 150 new tablets for cabinet members. The Cabinet Committee on institutional Reforms (CCIR) had raised questions over the size and quality of existing tablets given…

    IGCEP: Nepra should consult all stakeholders to ensure energy Security

    By NewzTodays Editorial Team | October 6, 2022

    Dr. M. Ilyas Fazil The National Electric Power Regulatory Authority (Nepra) should consult all stakeholders on the indicative generation capacity expansion plan (IGCEP) 2021–30 to avoid serious supply disruption issues. In a letter addressed to the Registrar of NEPRA, different concerns have been raised that Nepra should address by taking all stakeholders on board. The…

    Mari Petroleum Drills First-Ever Horizontal Well in Mari Gas Field

    By NewzTodays Editorial Team | October 6, 2022

    Keeping up with its tradition of deploying innovative technologies, Mari Petroleum has drilled its first-ever horizontal well “Mari-122H” in the Habib Rahi Limestone (HRL) Reservoir at Mari Gas Field. This landmark development well was designed to achieve a higher gas rate and higher Flowing Well Head Pressure (FWHP) which could not be achieved from conventional…

    Pakistan and Kazakhstan to focus on developing energy cooperation

    By NewzTodays Editorial Team | October 5, 2022

    The Ambassador of Kazakhstan to Pakistan H.E. Mr. Yerzhan Kistafin called on Minister of state for petroleum Dr. Musadik Malik here today. Minister warmly welcomed the ambassador and noted the importance of energy cooperation between both the countries. Dr. Musadik appreciated the brotherly relations and long-standing people to people affinity. He further remarked that Pakistan…

    CPI inflation in Sep clocked in at 23.2%   

    By NewzTodays Editorial Team | October 3, 2022

    CPI inflation for Sep 2022 clocked in at 23.2% YoY as compared to 27.3% in Aug 2022, which remained better than market expectations. On MoM basis, CPI inflation is down by 1.2% in Sep 2022 vs. an increase of 2.4% in Aug 2022.  This decline is due to 65% MoM reduction in electricity charges during…

    SNGPL announces momentous Q2 and Q3 Profits for FY21-22

    By NewzTodays Editorial Team | September 29, 2022

    SNGPL announces momentous Q2 and Q3 profits for FY21-22 and recommends a 25% interim cash dividend for Q2 FY21-22. In a historic development, Sui Northern Gas has announced its highest ever half-yearly and nine monthly profits for the periods ended December 31, 2021, and March 31, 2022. A profit after tax of Rs. 6,887 million…

    Solar industry rejects Nepra’s move to cut tariff for rooftop solar

    By NewzTodays Editorial Team | September 27, 2022

    The solar industry has rejected a move by a power regulator to cut power tariffs for excess electricity generated by rooftop solar power producers under a net metering system and sell it to power distribution companies (Discos). The power regulator held a public hearing on Tuesday to cut the tariff of electricity through solar sources…

    Import quota, LCs prior permission hamper Indus Motor’s Production

    By NewzTodays Editorial Team | September 27, 2022

    Indus Motor Company Limited has expressed concerns over the import quota and prior permission of Letters of Credit (LCs) which are hampering the production of cars. Indus Motor’s production of cars has declined due to restrictions. The management of Indus Motor Company Limited (INDU) has expressed concerns over the restrictive production of vehicles under recent…