Wateen closes 90% BTSs due to non-feasible business on June 9, 2017KARACHI: The fixed and wireless broadband has almost lost its market share due to enormous growth in competitive mobile market as most of the wireless local loop (WLL) operators are closing their services in various parts of the country, said the Pakistan Telecommunication Authority (PTA). In 2008, Wateen Telecom had introduced WiMax broadband internet in […]
SECP disposes of 36 applications seeking securities broker license on May 30, 2017KARACHI: Following the changes introduced into the regulatory regime, the Securities and Exchange Commission of Pakistan (SECP) has disposed of 36 applications for obtaining licenses as securities broker under Securities Broker (licensing and operations) Regulations, 2016. The SECP has directed the Pakistan Stock Exchange (PSX) to suspend the trading terminals of the respondent and proceed […]
Telecom consumers pay Rs 19b taxes in six months on May 26, 2017KARACHI: The telecom consumers of Pakistan paid almost Rs 19 billion to government in terms of General Sales Tax (GST) and Withholding Taxes (WHT) during first half (July-December 2016) of Fiscal Year 2016-17 (FY17), revealed the Economic Survey on Thursday. At present, telecom consumers are charged 19.5 percent in form of GST and 14 percent […]
PSX to introduce single stock options from July on May 13, 2017KARACHI: The Pakistan Stock Exchange (PSX) has decided to introduce the Single Stock Options from third quarter of 2017 while the website of the exchange will be available in Chinese and Urdu languages as well. A stock option is a privilege, sold by one party to another that gives the buyer the right, but not […]
PSX offers 20% shares to public after selling 40% stake to Chinese on May 13, 2017KARACHI: The Pakistan Stock Exchange Limited (PSX) has approved the sale of remaining 20 percent shares of PSX to general public through an initial public offering (IPO) while draft offer for the sale document has been issued for public comments. The draft offer for sale document is yet to be approved by the Securities and […]
Cement industry incapable of adding power to national grid on May 12, 2017KARACHI: The National Electric Power Regulatory Authority (NEPRA) has ruled out the possibility of adding the waste heat recovery generation in the national grid as surplus energy. Keeping in view the acute shortage and demand supply gap of electric power in the country, the authority had initiated Suo Moto proceedings with respect to development of […]
PTA urged to restrict Jazz from taking part in 3G/4G auction on May 4, 2017KARACHI: The Pakistan Telecommunication Authority (PTA) has been urged by a telecom operator to prevent or restrict merged entity Warid-Mobilink (Jazz) to participate in upcoming spectrum auction through the use of spectrum caps. This month, the regulator will auction 850MHz of spectrum while a telecom operator in its proposals on Information Memorandum (IM) for the […]
Pakistan made 1,002 requests for data: Facebook on April 29, 2017KARACHI: Social media giant Facebook on Friday released their latest Global Government Requests Report for the second half of 2016, revealing that government requests for account data increased by 9 percent globally compared to the first half of 2016, from 59,229 to 64,279 requests. “About half of the data requests we received from law enforcement […]
Islamabad airport project unlikely to be completed by August on April 22, 2017The new Islamabad International Airport (IIAP) Project is unlikely to be completed by August 2017 as planned, since the construction on the rainwater harvesting Kasana dam project will take another one-and-half years. However, the IIAP will be ready for operations by late July and the facility will then be inaugurated by the prime minister on […]
Pakistans economic growth to remain slow: WB on April 21, 2017KARACHI: The current account deficit of Pakistan is expected to widen by 2.4 percent of Gross Domestic Product (GDP) by 2018-19 (FY19), largely on the back of declining exports and widening trade deficit, said the World Bank (WB). The WB in its latest report, South Asia Economic Focus, predicted that the current account deficit is […]