Category: Highlights

Pakistan Election 2024: Will party manifestos be climate-friendly only on paper?

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Pak-Election

Ahead of tomorrow’s (Thursday, February 8th, 2024) critical vote, political parties in Pakistan seem to have been pitted against each other in a battle of manifestos, which reflect their vision for the nation’s future. These highly-touted manifestos touch on the pressing issues in the light of the dreads and desires of the electorate. From the teetering economy to the shambolic law and order situation, each party has taken its best shot at coming up with solutions to deal with the plethora of challenges emanating from domestic and foreign policy loopholes.…

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Germany provides EUR 45 million support to Pakistan

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Germany

ISLAMABAD, FEB 7 (DNA) – Dr. Kazim Niaz, Secretary for Economic Affairs Pakistan, and Mr. Alfred Grannas, German Ambassador to the Islamic Republic of Pakistan, witnessed the ceremony for signing of Euro 45 million agreements on Technical Development Cooperation for starting new bilateral cooperation projects. These new agreements are the result of a longstanding and trustful partnership between the two countries. Technical Cooperation Agreement The newly commissioned projects align with the German development cooperation thematic areas of Climate and energy, just transition; Sustainable economic development, training and employment; Health, social protection and population policy.…

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Attock Refinery Limited (ATRL) has posted a substantial increase in its earnings for the first half of fiscal year 2024 (1HFY24), reporting a profit after tax of Rs17.56 billion [EPS: Rs164.7].

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New-ARL

This compares to a profit of Rs15.91 billion [EPS: Rs149.21] in the same period last year. The Board of Directors (BoD) has also declared an interim cash dividend of Rs2.50 per share (25%) for the review period. The company’s top line witnessed an 18.12% YoY surge to Rs270.29 billion compared to Rs228.83 billion in the same period last year. Despite a significant increase in taxes, duties, levies, and price differentials towards sales, the net revenue reached Rs205.96 billion, reflecting growth from the Rs189.03 billion recorded in 1HFY23. The gross profit…

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Mari acquires working interest in Zarghun South and Nareli Block

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Mari-Petroleum

Mari Petroleum Company Limited (MARI), one of Pakistan’s largest E&P companies, has acquired a working interest from Spud Energy Pty Ltd (SEPL) in Zarghun South and Nareli Block. Mari shared the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. “Mari and SEPL have signed agreements today (February 07, 2024) for the acquisition of 40% working interest in Zarghun South D&PL and 27.55% working interest in Nareli Block by Mari from SEPL,” read the notice. Mari shared the said acquisitions are subject to requisite regulatory approvals and…

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PTA Confirms Internet Services to Remain Operational on Pakistan Election Day.

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General-Election

Islamabad: The Pakistan Telecommunication Authority (PTA) has quashed rumors of a planned internet shutdown on election day (February 8), asserting that internet services will continue without interruption. Despite previous concerns and past instances of disruptions, government officials have assured the public of internet accessibility during the upcoming elections. Shutdowns pose significant economic consequences, with telecom companies facing losses of Rs940 million per day, resulting in a substantial impact on tax revenue for the national exchequer. The IT freelance industry, in particular, suffers losses of approximately $2 million daily during internet…

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