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PIA 777 impounded in kualumpur for not paying Lease amount
PIA Boeing 777 registration APBMH operating flight islamabad Kuala Lumpur Islamabad is impounded by the Malaysian Authorities in Kuala Lumpur by orders of the court which was approached by the lessor of the aircraft. The leasing company has not been paid the lease amount hence they approached the courts there. PIA managment has not paid […]
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Service Global Footwear Ltd enters as shareholder in JV for Greenfield Project
In a latest notification to the PSX, Service Global Footwear Limited (`SGFL’) a subsidiary of Service Industries Limited (SRVI) will be included as a shareholder in Joint venture project, Service Long March Tyres (Private) Limited (‘SLM’), incorporated in terms of Joint Venture Agreement executed amongst the Company, Chaoyang Long March Tyre Co., Ltd (LM) of […]
Agritech Ltd shut down the Urea plant
In a latest notification to the Pakistan Stock Exchange, the Agritech Limited (PSX: AGL) announced that the Urea plant of the company has shut down on 30-11-2020 due to Gas Curtailment by Government of Pakistan due to winter load management.
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Fauji Foundation to acquire majority stake in Silk Bank
In a latest notification to PSX, Fauji Foundation (FF) has expressed its intention to acquire majority stake in Silk Bank Limited (PSX:SILK). As a part of the process, Silk Bank has been requested to allow FF to conduct due diligence of Silk Bank and in this regard FF intends to apply to SBP for the requisite approval of the same.Corporate Result: Fauji Fertilizer Company Annual Earnings observe growth of 72%
In a latest notification to the PSX, the Fauji Fertilizer Company Ltd (PSX:FFC) announced the result for the year ended December 31, 2020. The company announced the Profit After Tax of Rs.29.7Bn, showing a growth of 72% YoY basis. The Eanring Per Share (EPS) clocked in at Rs. 23.38. The company earning were increased as a result of Low expense and a surge in Share of Profit of Associates & Joint venture that recorded profit of Rs. 8.29Bn as compared to the loss of Rs. 379.3Mn Net Sales of the company stood at 102.7Bn declined by 6%. The Cost
HUBC’s subsidiary & Central Power Purchasing Agency signed an agreement in furtherance of the MoU
In a latest ntoification to the Pakistan Stcok Exchange, the Hub Power Company Limited (HUBC) announced that the Narowal Energy Limited (a wholly-owned subsidiary of HUBC under the 2002 Power Policy) and Central Power Purchasing Agency (Guarantee) Limited (Power Purchaser) have initialed an agreement in furtherance of the Memorandum of Understanding dated 12th August 2020. Under the Agreement, at the request of the Government of Pakistan, in the larger national interest and sectoral sustainability, the future O&M savings and heat rate efficiency, shall be shared by the Parties. The payment of overdue receivables is an integral part of the Agreement and the payment
MPC: Policy rate remains stable at 7%
The Monetary Policy Committee (MPC) decided to maintain the policy rate at 7 percent. The MPC noted that since the last meeting in November, the domestic recovery has gained some further traction. Most economic activity data and indicators of consumer and business sentiment have shown continued improvement. As a result, there are upside risks to the current growth projection of slightly above 2 percent in FY21. On the inflation front, recent out-turns are also encouraging, suggesting a waning of supply-side price pressures from food and still-benign core inflation. While utility tariff increases may cause an uptick in inflation, this isCHCC to undertake BMR for Cement Line 1
CHCC has announced that it has decided to undertake BMR for Cement Line 1 & install a main Crusher. These measures will help improve the operational efficiencies of the Company. The total cost of BMR of Cement Line 1 & installation of main Crusher is approximately Rs 3.5bn which will be financed through long-term loans.
PIA 777 impounded in kualumpur for not paying Lease amount
PIA Boeing 777 registration APBMH operating flight islamabad Kuala Lumpur Islamabad is impounded by the Malaysian Authorities in Kuala Lumpur by orders of the court which was approached by the lessor of the aircraft. The leasing company has not been paid the lease amount hence they approached the courts there. PIA managment has not paid the lease along with other payments that are with held,and these amounts are shown as profits by the air force management on deputation in PIA headed by Air Marshal Arshad malik.Fashion Trends
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PIA 777 impounded in kualumpur for not paying Lease amount
PIA Boeing 777 registration APBMH operating flight islamabad Kuala Lumpur Islamabad is impounded by the Malaysian Authorities in Kuala Lumpur by orders of the court which was approached by the lessor of the aircraft. The leasing company has not been paid the lease amount hence they approached the courts there. PIA managment has not paid […]
Pakistan’s Exports increased 18% YoY & imports surged 25% during December, 2020
Pakistan Bureau of Statistics (PBS) revealed the exports from the country increased by 4.98 percent during the first half (H1) of the current fiscal year (2020-21) as compared to the corresponding period of last year. The exports from the country during July-December (2020-21) were recorded at $12.098 billion against the exports of $11.524 billion during […]
Relaxation of Tax granted to IT Industries for 10 years – Amir Ahmad Hashmi
Amir Ahmad Hashmi head of Special Technology Zone Authority in a meeting of launch ceremony of Special Technology Zone Authority announced the relaxation of Tax to IT Industries for 10 years.
Forex Reserves inched up by 0.79% to USD 20,402.40Mn
As per the data released by the SBP, the Pakistan’s Forex Reserves increased by USD 160.60 Million or 0.79% and the total liquid foreign reserves held by the country stood at USD 20,402.40 Million on Dec 04, 2020.
Roshan Digital Account receives its highest ever single day remittance of US$ 7.7Mn
In a latest tweet from the State Bank of Pakistan, the inward Remittances from overseas Pakistanis into Roshan Digital Account rose to $7.7 million, the highest ever daily amount. To date, total inward remittances into Roshan Digital Account (RDA) have reached $139.4 million, with $81 million invested in Naya Pakistan Certificates.