Pakistan exports pork worth millions of rupees to Afghanistan on September 7, 2017KARACHI: Though keeping, rearing, selling, and eating pig is prohibited in Pakistan; export of swine meat (pork) from Pakistan to Afghanistan remained significant in the recent years. Latest data by State Bank of Pakistan (SBP) revealed that around $2.8 million worth of fresh, chilled or frozen swine meat was exported by Pakistan in the nine […]
Stock brokers taking unauthorised deposits from people on September 6, 2017KARACHI: Illegal trading activity at the Pakistan Stock Exchange (PSX) remains a major concern as the Securities and Exchange Commission of Pakistan (SECP) has reiterated that some of the brokers are engaged in unauthorized deposit-taking activities. The regulator earlier advised the PSX to initiate market intelligence methodology to check brokers overstepping the legal limits; however, […]
Govt to appoint advisors for sale of Mari Petroleum shares on August 31, 2017KARACHI: The Privatisation Commission (PC) has invited expressions of interest (EoIs) for appointment of Financial Advisory Consortium (FAC) for divestment of government of Pakistan held shares in Mari Petroleum Company Limited (MPCL). MPCL is a fully integrated Exploration and Production (E&P) company of Pakistan, currently managing and operating the country’s largest gas reservoir (in terms […]
PSX to introduce new counter for trading in less liquid stocks on August 26, 2017KARACHI: The Regulatory Affairs Committee (RAC) of the Pakistan Stock Exchange (PSX) has proposed to introduce new counter for trading in less liquid stocks and implementation of general framework for listed companies in violation of PSX regulations. In this regard the PSX has solicited public comments on said regulatory changes. According to the RAC of […]
PTA initiates process for 3G/4G spectrum auction in AJK and GB on August 24, 2017KARACHI: The Pakistan Telecommunication Authority (PTA) is all set to auction spectrum for 3G/4G services in Azad Jammu and Kashmir and Gilgit Baltistan (AJ&K and GB) by the end of this year. In this regard, the authority has issued policy directive on Wednesday for auction of three blocks of 10MHz each in 2100MHz and one […]
Brand Pakistan initiative to be unveiled at Expo Pakistan-2017 on August 19, 2017KARACHI: In a bid to reposition Pakistan’s image in terms of investment potential, credit worthiness, export opportunities, tourism potential and international relations, the Ministry of Commerce has decided to launch national brand-building initiative. In this regard, Brand Pakistan initiative will be launched at the opening ceremony of Trade Development Authority of Pakistan (TDAP)’s Expo Pakistan […]
PSO plans to incur Rs 40b capital expenditure on August 10, 2017KARACHI: The government-run Pakistan State Oil (PSO) has planned to incur over Rs 40 billion in capital expenditure (capex) over the next three years as the company (PSO) is facing stiff competition from smaller players. The PSO plans to make heavy capex of Rs 44 billion in next 3 years to expand storage facilities, pipeline […]
Energy consumers to pay $4.8m/year for CPEC projects security on August 4, 2017KARACHI: In order to provide security to 19 China-Pakistan Economic Corridor (CPEC) power projects, Pakistani electricity consumers will have to pay about Rs 505 million ($4.8 million) per annum through monthly bills for entire 25-30 years life of the projects. The National Electric Power Regulatory Authority (Nepra) Thursday has allowed CPEC’s projects to induct 1% […]
PTA plans to introduce new licencing structure for LDI sector on August 3, 2017KARACHI: In order to bring investments for establishment of an optical fibre cable (OFC) network, undersea cables and cross border connectivity, the Pakistan Telecommunication Authority (PTA) is planning to introduce a new licensing framework for Long Distance International (LDI) sector. PTA said that the LDI sector offers a number of opportunities for new investors that […]
Finnish company decides to quit Pakistan on July 27, 2017KARACHI: The Finnish company Stora Enso on Wednesday decided to divest its holding in Bulleh Shah Packaging (BSP) in Pakistan, citing that company’s asset base in Pakistan with its product mix and related future outlook has become a non-strategic fit in the Stora Enso’s consumer board portfolio due to changed global growth outlook. Stora Enso […]