Aftab Ahmed The Federal Cabinet has approved the appointment of Masood Nabi as Managing Director (MD) Government Holdings (Private) Ltd–GHPL Pakistan. Masood Nabi has vast experience in the E&P industry and government has appointed him now as MD GHPL Pakistan. Earlier, he has worked as Executive Director (ED) Oil and Gas Development Company Limited (Ogdcl)…
Aftab Ahmed As Cash-strapped Hascol Petroleum continues to face heavy losses, it lays off 400 employees across the country. There had been hopes that its financial health will improve after Vital Dubai had acquired shares. But the company continues bleeding. In a desperate move to improve financial health, Hascol Petroleum had raised Rs7.91 billion from…
Aftab Ahmed Islamabad: The Economic Coordination Committee (ECC) of the Cabinet has approved the Mobile Device Manufacturing Policy to promote local manufacturing and assembly of mobile phone handsets. The policy approved in a meeting of the ECC chaired by Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh is aimed at…
Aftab Ahmed Islamabad: Power Regulator admits that PML-N government has added 12000 MW of electricity in the national grid to overcome load shedding that hit the country since 2009-10. After the addition of 12000 MW of electricity to the national grid, the total capacity of electricity jumped up to 39,145 MW in the country. In…
Aftab Ahmed Managing Director Interstate Gas Systems (ISGS) Mobin Saulat has resigned amid a row with the board of directors of the company. Sources told Newztodays.com that the board of directors of ISGS was not comfortable with the Managing Director which led to the resignation of the former. They said that the acting charge had…
Aftab Ahmed Islamabad: The PTI government has decided to disburse a subsidy of Rs 37 billion to the farmers directly through the scratching cash cards scheme during the current Kharif season but not indirectly through fertilizer manufacturing mafia as done by the previous governments. According to the scheme, the Federal Government would provide a subsidy…
Aftab Ahmed With claims of facing over Rs 25 billion inventory losses, oil refineries have requested the government to defer payment of petroleum development levy (PDL) for six months till November this year. Refineries claim that they have suffered huge Inventory losses during the last two months and these losses may increase further in the…
Aftab Ahmed The management of the Pakistan Agriculture Research Council (Parc) which is reluctant to terminate 269 illegal employees in light of the court decision, stepped in sending notices to officials having dual nationality and permanent residence permits in a bid to penalize a senior scientist. The bid especially aims at targeting Dr. Ghulam Muhammad…
Aftab Ahmed Islamabad: The Cabinet on Tuesday approved the restructuring of the Board of Directors of Pak-Arab Refinery Limited (PARCO). Mr. Aftab Hussain (Sindh), Mr. Abdul Hadi Shah (Khyber Pakhtunkhwa), and Ms. Bushra Naz Malik (Punjab/ Women representative) were approved as members of the Board of PARCO. The Cabinet also approved the nomination of director…
Aftab Ahmed Islamabad: Jazz Pakistan is fleecing poor illiterate consumers by automatically subscribing to one of its services under the name of “DekhoDaily Offer” and depriving the hard-earned cash of the consumers by detecting Rs 6 daily on the service. The consumers even do not know unsubscribe dekhodaily jazz offer code and therefore, company starts…