Day: August 16, 2020

PIA is planting 50,000 trees across country in current year

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The Pakistan International Airlines while actively contributing in the Clean and Green Pakistan initiative of the government is planting 50,000 trees in the current year alone across its different stations in the country. This was disclosed by Muhammad Shoaib, company secretary PIA, while speaking at a tree plantation ceremony at PIA Township to mark the 74 Independence Day of Pakistan. The tree plantation ceremony at PIA Model Secondary School was jointly organized by the Federation of Pakistan Chambers of Commerce & Industry, PIA, and National Forum for Environment and Health…

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Tankers ship Iranian fuel cargoes to U.S. for seizure

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Tankers carrying Iranian fuel cargoes covered by a U.S. warrant for seizure are sailing to the United States after talks between U.S. authorities and ship owners, a U.S. government source and a shipping source said on Thursday. Iran had planned to transport the gasoline to Venezuela, a supply line that both Tehran and Caracas have flaunted in defiance of U.S. sanctions. Washington has imposed sanctions on both countries to choke oil exports and deprive their governments of their main source of revenue. Iranian action against another ship on Wednesday in…

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India moves to curb China shipping links in oil trade

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The Indian government has directed state-controlled oil companies to register the use of any vessels belonging to bordering countries, in its latest move to curb trade relations with China. All such vessel charters must be registered with India’s Department for Promotion of Industry and Internal Trade (DPIIT). The directive applies equally to shipping firms owned by Pakistan and Nepal — which have their own border disputes with Delhi — but in practice is only likely to affect Chinese shipping companies, which have a large global presence in the oil and…

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Petroleum levy collection on oil products rose 43pc in last fiscal

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ISLAMABAD: The government has collected about 43 per cent higher petroleum levy on oil products during the fiscal year ending on June 30, 2020 as compared to the previous year despite 13pc to 20pc reduction in local production and 25pc drop in import of major products. The data released by the finance ministry has reported Rs294 billion collection through petroleum levy on oil products during fiscal year 2019-20 when compared to Rs206bn in fiscal year 2018-19. Also, the government is estimated to have collected almost 31pc higher revenue on key…

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Team awarded Sitara-e-Imtiaz for winning Karkey case, saving Pakistan from $1.2bn penalty

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A team comprising officers from the Pakistan Army whose efforts made the country proud internationally and saved the nation from a penalty of $1.2 billion has been awarded Sitara-i-Imtiaz. The cabinet secretariat on Friday released the names of 184 Pakistani and foreign nationals who will be conferred civil awards for showing excellence and courage in their respective fields. According to details, Brig Rana Arfan Shakeel Ramay, Lt Col Farooq Shahbaz and Ahmed Irfan Aslam worked hard in gathering information from Swiss, Lebanese, and Dubai banks regarding the corruption of Turkish…

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