Feb 2

Law authorizes customs officials to X-Ray suspects for detection of concealed goods

KARACHI: Customs authorities have been empowered to screen or X-Ray bodies of suspected persons for detection of concealed goods. According to Customs Act, 1969, an officer not below the rank of an assistant collector of customs can order to screen or X-Ray a person for detection of concealed goods. Section 160 of the Act explained […]

by Mrs. Anjum Shahnawaz

Sales of petroleum products grow by 9 percent in seven months

Feb 2

Energy

Sales of petroleum products grow by 9 percent in seven months

KARACHI: The sales of petroleum products have posted a 9 percent growth during the first seven months of the current fiscal year mainly due to increasing economic activities and trade. The sales of oil market companies (OMCs) increased to 11,269,000 tons during July – January of 2020/2021 as compared with 10,309,000 tons in the corresponding […]

by Mrs. Anjum Shahnawaz

Feb 2

Money & Banking

Bank holiday on Kashmir Day announced

KARACHI: The State Bank of Pakistan (SBP) on Tuesday announced bank holiday on occasion of Kashmir Solidarity Day on February 05, 2021. The SBP said that it would remain closed on February 05, 2021 (Friday) on the occasion of “Kashmir Solidarity Day”. On this day, one-minute silence shall be observed at 10:00 a.m. to honor […]

by Mrs. Anjum Shahnawaz

Feb 2

National

Pakistan starts coronavirus vaccination

ISLAMABAD: Prime Minister Imran Khan on Tuesday launched the vaccination against the coronavirus. The vaccination will be initially for health workers. The prime minister advised the people to strictly adhere to the SOPs to stop its spread. He said the vaccination would be judiciously distributed across all the provinces. He was appreciative of China for […]

by Mrs. Anjum Shahnawaz

Cell phone of Justic Qazi Faez Isa hacked

Feb 2

IT & Telecom

Cell phone of Justic Qazi Faez Isa hacked

ISLAMABAD: Information has been circulated on Tuesday by the government authorities that the cell phone of Justice Qazi Faez Isa was hacked. A statement said that it is intimated to all and sundry that the cell phone of Justice Qazi Faez Isa has been hacked and there is suspicion that misguiding communication can be made […]

by Mrs. Anjum Shahnawaz

Share market up by 332 points on power purchase agreement

Feb 2

Stock & Commodity

Share market up by 332 points on power purchase agreement

KARACHI: The share market gained 332 points on Tuesday following positive sentiments on initiation of agreement between HUBCO and Central Power Purchasing Agency. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,580 points as against previous day’s closing of 46,248 points showing an increase of 332 points. Analysts at Arif Habib Limited […]

by Mrs. Anjum Shahnawaz

Hubco initiates agreement with Central Power Purchasing Agency

Feb 2

Energy

Hubco initiates agreement with Central Power Purchasing Agency

KARACHI: The Hub Power Company Limited (Hubco) on Tuesday said that it has initiated agreement with Central Power Purchasing Agency (Guarantee) Limited (power purchaser) in furtherance of the Memorandum of Understanding dated August 21, 2020. In a communication sent to Pakistan Stock Exchange (PSX), the company said that under the agreement, the payment of overdue […]

by Mrs. Anjum Shahnawaz

OGDCL announces gas discovery at Sial-1 Well in Sindh

Feb 2

Energy

OGDCL announces gas discovery at Sial-1 Well in Sindh

KARACHI: Oil and Gas Development Company Limited (OGDCL) on Tuesday announced a discovery of gas condensate at Sial-1 well located in district Hyderabad, Sindh province. In an information sent to Pakistan Stock Exchange (PSX) and London Stock Exchange (LSE), the company said that the structure of Sial-1 was drilled and tested using OGDCL in house […]

by Mrs. Anjum Shahnawaz

Rupee recovers by six paisas on contraction in inflation

Feb 2

Money & Banking

Rupee recovers by six paisas on contraction in inflation

KARACHI: The Pak Rupee recovered six paisas against the dollar on Tuesday owing to lower growth in inflation for the first month of the current year. The rupee ended Rs160.16 to the dollar from the previous day’s closing of Rs160.22 in the interbank foreign exchange market. The rupee depreciated by 12 paisas on the first […]

by Mrs. Anjum Shahnawaz

Customers due diligence made mandatory for securities brokers, others

Feb 2

Stock & Commodity

Customers due diligence made mandatory for securities brokers, others

ISLAMABAD: It is made mandatory for regulated persons for conduct customers due diligence (CDD) of their customers/occasional customers under Anti-Money Launder Act. The Securities and Exchange Commission of Pakistan (SECP) issued directives through SRO 105(I)/2021 related to customers due diligence. The regulated person has been explained as securities brokers, futures brokers, insurers, Takaful Operators, NBFCs […]

by Mrs. Anjum Shahnawaz