Category: Highlights

July 29, 2020 (MLN): Pakistan State Oil (PSO) has paid an amount of Rs. 224,590,280 to Pakistan Refinery Limited (PRL) for the subscription of 22,459,028 shares which remained unsubscribed as part of the right issue made by the latter. This is in addition to PSO’s subscription of its own 60% portion of Right Shares in PRL. As a result of the aforementioned acquisition, PSO’s shareholding in PRL has increased from 60% to 63.56%. PSO now holds 378,000,000 ‘Class B’ shares and 22,459,028 ‘Class A’ shares in PRL. It is pertinent to…

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ISLAMABAD: A private member bill introduced in the Upper House of the Parliament on Monday sought to amend the law to “enhance the functions and utility” of the Federal Board of Revenue’s (FBR’s) Policy Board. During the Senate session presided over by Chairman Sadiq Sanjrani, Kauda Babar, an independent senator from Balochistan, introduced the Federal Board of Revenue (Amendment) Bill, 2020 which was referred to the relevant standing committee. “The Policy Board of Federal Board of Revenue was conceived as an apex forum for the provision of policy guidance to…

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ISLAMABAD, Jul 27 (APP):Minister for Power Division Omar Ayub Khan on Monday informed the Senate that the government had an integrated plan to generate 100,000 MW by 2047 through indigenous resources to ensure energy security and boost industries.  Winding up discussion on a motion that this House may discuss the issue of increase in circular debt beyond Rs 1660 million, moved by Mushtaq Ahmad, the minister said share of indigenous energy would be enhanced to 80 per cent to get rid of expensive energy based on imported fuel. He said…

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They said coal projects were causing the displacement of people and polluting drinking water and affecting the environment. The Pakistan Fisherfolk Forum organised the conference on ‘air pollution and groundwater’ in the coastal neighbourhood of Ibrahim Hyderi. The moot followed SOPs as the distance of six feet among the seating of participants was maintained. PFF chairman Muhammad Ali Shah said coal power plants at the coastal belt of the country had blocked creeks of fishermen and polluted marine resources. “Pakistan was going behind coal power projects at the time when…

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The $400 billion strategic partnership between Iran and China is a milestone in the rise of the Middle Hemisphere. It’s somewhat like the Monroe Doctrine of 1923 when the US realized that it didn’t need to physically take over other countries when there were less bloody and messy ways of establishing economic dominance in the Western Hemisphere. Through the Belt and Road Initiative (BRI) China has already invested billions in every major South Asian and Middle-Eastern country. Alongside the comprehensive cooperation deal between Iran and China came the news that…

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