KARACHI: Dawlance has signed a Memorandum of Understanding (MoU) with Habib Metro Bank Limited (HMBL) to enable the suppliers and contractors of Dawlance, to undertake Supply Chain Finance (SCF) transactions with ease.
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Mari Petroleum announces gas discovery in Sindh province
KARACHI: Mari Petroleum Company Limited (MPCL) on Monday announced gas discover in Sindh province.
In a communication sent to Pakistan Stock Exchange (PSX), the company said it had made a gas discovery at its exploratory well Mari Ghazij-1, located in Mari D&PL in Sindh Province.
MPCL is the Operator of Mari D&PL with 100 per cent working interest.
The well was spud-in on November 24, 2022 and successfully drilled down to the depth of 1,015 meters.
The gas flow rate established through Drill Stem Test (DST) is 5.1 Million Standard Cubic Feet Per Day (MMSCFD) with Wellhead Flowing Pressure (WHFP) of232 Pounds Per Square Inch (Psi) at 64/64 inch choke size.
The company plans to appraise the discovery to prove its extent and, in parallel, evaluate its development options.
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TRG moves court against JS Bank, others
KARACHI: The Resource Group International Limited (TRG International) has filed a suit before the Sindh High Court against JS Bank Limited and others.
According to the information shared with the Pakistan Stock Exchange (PSX, The Resource Group International Limited (TRG International) has filed Suit no. 19 of 2023 before the Sindh High Court at Karachi against JS Bank Limited, JS Global Capital Limited, Bank AL Habib Limited, DJM Securities Limited, Muhammad Ziaullah Khan Chishti (“Zia Chishti”), Sarah Jennifer Pobereskin (Zia Chishti’s wife) and others.
TRG International believes that the lending arrangements entered into by Zia Chishti and Sarah Jennifer Pobereskin with JS Bank Limited, JS Global Capital Limited, Bank AL Habib Limited and DJM Securities Limited are in violation of the Stock Purchase Agreement binding on Zia Chishti that places restrictions on any transfer or encumbrance on shares of TRG Pakistan directly or indirectly owned by him.
The Honourable High Court of Sindh was pleased to pass an interim order on January 7, 2023 in the abovementioned proceedings, restraining JS Bank Limited (including its Bahrain Branch), JS Global Capital Limited, Bank AL Habib Limited and DJM Securities Limited from creating any third party interest in any manner whatsoever in relation to the Company’s securities pledged by Zia Chishti and Sarah Jennifer Pobereskin wither them, till the next date of hearing.
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State Life Insurance directed to pay interest for delayed payment
KARACHI: State Life Insurance Corporation of Pakistan (SLICP) has been directed to pay interest to a policy holder for delayed payment.
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Daraz customers rejoice reward points amid high inflation
Consumers are rejoicing the points reward by Daraz – an online business platform – at a time of high inflation. The reward points allow consumers to make free online shopping. These reward points enable customers to make additional 20 per cent shopping out of total shopping made normally.
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Pak Suzuki announces continuation of automobile plant shutdown
KARACHI: Pak Suzuki Motor Company Limited on Friday announced to continue its shutdown of automobile plant during next week.
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Pakistan Suzuki decides plant shutdown from Jan 02, 2023
KARACHI: Pakistan Suzuki on Monday decided to shut down its plant from January 02, 2023 till January 06, 2023.
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Attock Refinery restarts distillation unit
KARACHI: Attock Refinery Limited on Monday said its distillation unit has restarted working, which was shut down previously.
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ACCA conference highlights challenges faced by public sector
A conference hosted by Association of Chartered Certified Accountants (ACCA) highlighted the challenges faced by public sectors and gave solutions
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Pakistan Petroleum signs agreement for Reko Diq Project
KARACHI: Pakistan Petroleum Limited (PPL) has announced signing of an agreement for reconstituted Reko Diq Project.
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