Aftab Ahmed Islamabad: The PTI government has approved immediate cash support of US$30 million for Roosevelt Hotel New York through market financing with the government of Pakistan guarantee. Sources told Newztodays.com that Aviation Division had tabled a summary before the economic coordination committee to approve immediate cash support of US$130.3 million. This amount also included…
Aftab Ahmed Economic Coordination Committee (ECC) has approved the supply of 73 mmcfd LNG to AGL and Fatima Fertilizer plants to produce fertilizer. However, it has directed the industries ministry to consult stakeholders to find out the demand of urea in the country. It also further directed to work out the possibility of import of…
Aftab Ahmed Islamabad: The government has delegated authority to issue Prohibited Bore (PB)/Non-Prohibited Bore (NPB) Arms Licences’ in Pakistan to the minister and secretary Interior division. The Cabinet has taken a decision keeping in view the workload on the cabinet. The cabinet has approved the delegation of authority to issue Prohibited Bore licenses to Minister…
Aftab Ahmed Islamabad: Jazz—with the highest number of subscribers in the country—has the highest number of complaints. The complaints comprise nearly 54% of the total registered queries by PTA through its online portal. Simultaneously, its 4G services’ signal strength in rural areas has not met the confidence level of 90% of subscribers. This reveals in…
Aftab Ahmed It is alarming that Oil and Gas Development Company Limited (Ogdcl) has procured store items worth Rs 1.8 billion without any consumption turning into scrap. The over procurement appears to benefit the contractors as they were procured, which were not required and were not used by the OGDCL. The procurement in Oil and…
Our Correspondent M/s Hascol Petroleum Limited (HPL) has filed an application before the Oil and Gas Regulatory Authority (OGRA) to review the decision to suspend the company’s marketing license for Khyber Pakhtunkhwa and the imposition of a penalty of Rs 10 million. In a decision issued on Wednesday, the regulatory-Oil and Gas Regulatory Authority (OGRA)…
Aftab Ahmed Engro Polymer Company Limited (EPCL) has increased its prices for polyvinyl chloride (PVC) ethylene, the chemical used to produce PVC pipes and other plastic products 20,000 per ton. The EPCL increased prices due to a supply shortfall in the global market effective from October 15, 2020. The prices of PVC had witnessed a…
Aftab Ahmed Islamabad: Amid controversy over Roosevelt Hotel‘s shutdown in New York, the PTI government has considered an option to take over directly Roosevelt and Scribe Hotels. The Roosevelt Hotel management had advertised and announced on its Twitter account to shut down the hotel on October 13, leading to strong criticism in the country. READ…
Aftab Ahmed The PTI government has decided to say ‘Goodbye’ to decades-old oil refineries if they fail to upgrade in a year period in line with Euro-V products. Special Assistant to Prime Minister (SAPM) Nadeem Babar on Petroleum announced this on Wednesday. He was accompanied by Federal Minister for Power Umer Ayub and Secretary Petroleum…
Aftab Ahmed Foundation Securities which is part of the Fauji Foundation Group and a local affiliate of Macquarie Capital has launched a first-ever shariah-compliant trading platform in Pakistan that includes investment only in stocks in the KMI-All-Share index. This new platform will attract those investors who were unable to participate in the best performing stock…