Govt set to remove cap on refineries’ dividends

    By NewzTodays Editorial Team | August 20, 2020

    Aftab Ahmed Islamabad: The government is all set to remove the cap of dividends by refineries in a new proposed oil refinery policy 2020. Under a plan, capping of dividends by refineries and 7.5 percent deemed duty on high-speed diesel would be discontinued. The refinery margins will be introduced based on 50% Oil marketing companies…

    Govt grants second extension to Chairman NIRC

    By NewzTodays Editorial Team | August 20, 2020

    Aftab Ahmed Islamabad: The PTI government has granted a second extension in the contract appointment of Chairman National Industrial Relations Commission (NIRC) Justice Mian Shakirullah Jan for a further period of two years. Mr. Justice (Retd) Mian Shakir Ullah Jan, former Judge of Supreme Court of Pakistan, appointed as Chairman. The NIRC chairman was initially…

    A sorry tale of Parco CEO Appointment

    By NewzTodays Editorial Team | August 19, 2020

    Aftab Ahmed Islamabad: It may be shocking disclosure that a high-powered Interview committed headed by Minister for Energy Omer Ayub had picked up a candidate and placed at the top of merit order for appointment of Chief Executive Officer (CEO) Pak Arab Refinery Limited (Parco) who stood disqualified. Even did not meet the advertised educational…

    Govt decides to set up ML-1 Authority

    By NewzTodays Editorial Team | August 14, 2020

    Aftab Ahmed Islamabad: The government has decided to set up ML-1 authority to execute Pakistan Railways’ Mainline-I Project – the China Pakistan Economic Corridor (CPEC). Sources told Newztodays.com that Prime Minister Imran Khan had approved it under the restructuring plan of Pakistan Railways. They said that appointing a chief executive officer (CEO) of ML-1 Authority,…

    Ufone indulges in financial fraud, grey traffic

    By NewzTodays Editorial Team | August 14, 2020

    Aftab Ahmed Islamabad: Pakistan Telecommunication Authority—PTA has termed actions taken by Ufone regarding Grey Sims are non-serious, insubstantial, reactive, and a mere eyewash by not penalizing its franchise involved in grey trafficking. Ufone has paid inadequate action to the fact. The sale of grey SIMs can have profound ramifications for the subscribers and other stakeholders….

    FIA raids OGRA office to confiscate OMCs record

    By NewzTodays Editorial Team | August 14, 2020

    Aftab Ahmed Islamabad: The Federal Investigation Agency—FIA—has confiscated records at OGRA about the countrywide oil crisis this June. The FIA team also remained at the headquarter of the Authority till late at night. So that they can get the relevant record of OMCs. The Agency recorded those OMCs mainly responsible for hoarding and dumping POL…

    CMOs involve in Poor quality, coverage and overcharging

    By NewzTodays Editorial Team | August 11, 2020

    Aftab Ahmed Islamabad: Country’s top CMO—Jazz Pakistan—has topped PTA’s survey by registering major complaints by consumers on three counts—quality of service, coverage issues (non-provision of service), and billing-related issues (overcharging/tariff), reveals the finding of Regulator on Tuesday. As per the PTA survey, Telenor Pakistan grabbed the second position whereas Zong is at three in the…

    US firm drags Roosevelt Hotel into debt trap

    By NewzTodays Editorial Team | August 11, 2020

    Aftab Ahmed Islamabad: A New York-based Investment firm MSD has dragged PIA-owned Roosevelt Hotel in Manhattan, New York, into a debt trap by design to acquire it. MSD Partners is an SEC-registered investment adviser that utilizes an investment strategy focused on maximizing long-term capital appreciation. Sources told Newztodays.com that Roosevelt Hotel Corporation has obtained a…

    CEO Shell Pakistan admits OMCs manipulation

    By NewzTodays Editorial Team | August 10, 2020

    Aftab Ahmed Islamabad: Chief Executive Officer (CEO) Shell Pakistan Haroon Rashid has admitted the manipulation of Oil Marketing Companies (OMCs) through small traders and dumping products for opportunistic gains witnessed nowadays. Shell Pakistan was one of the companies which had curtailed oil supplies to its retail outlets during June this year when oil prices witnessed…

    Cabinet notices misusing fertilizer subsidy

    By NewzTodays Editorial Team | August 10, 2020

    Aftab Ahmed Islamabad: The cabinet members have accused the fertilizer manufacturers of misuse of subsidy by denying passing on the subsidy’s impact on the poor farmers and demanding to check it. The fertilizer industry was given gas at discounted rates, but they pocketed billions from the poor farmers by charging higher fertilizer rates. Even they…