Islamabad, Dec 13: Oil & Gas Development firm Limited (PSX: OGDC) has been overtaken by Mari Petroleum Company Limited (PSX: MARI) as the biggest firm on the Pakistan Stock Exchange (PSX) in terms of market capitalization. Mohammed Sohail, the CEO of Topline Securities, noted in a post on X that MARI’s market valuation is currently Rs. 984 billion ($3.5 billion), while OGDC’s is Rs. 963 billion ($3.4 billion). Additionally, Sohail noted that MARI was ranked seventh at the same time last year, while OGDC was ranked first. He credited Mari’s ascent to a significant bonus share announcement earlier this year…
Author: Iqra Khan
Islamabad, Dec 13: Prime Minister Shehbaz Sharif gave the appropriate authorities instructions on Friday to lower electricity rates even more and hasten the action plan’s implementation for upcoming power generation projects. The prime minister emphasized the importance of giving low-cost power projects based on local resources priority while presiding over a meeting to review and debate the nation’s plans for electricity and power. The premier received updates on the status of the country’s ongoing hydropower projects. According to him, the inexpensive power plants generate inexpensive, environmentally friendly electricity. He said that solar energy should also replace the current capacity for…
Islamabad, Dec 13: In a historic agreement, InfraZamin Pakistan, Saudi Pak Industrial and Agricultural Investment Co Ltd. agreed to pay PKR 1.28 billion to Acumen Energy Limited (Acumen) for an 11.5-year Distributed Solar Financing Facility. The facility would be InfraZamin’s first venture into renewable energy and will be supported by a PKR 1.04 billion loan guarantee to Saudi Pak. Acumen Energy Limited would be able to finance the development of roughly 12 MW of solar power plants throughout Pakistan thanks to the transaction, which was backed by Private Finance Advisory Network (“PFAN”) and Capital Resource as consultants. Both Saudi Pak…
Islamabad, Dec 13: A high-level meeting of the Prime Minister’s Committee on IT Export Remittances was held today at the Finance Division under the direction of Federal Minister for Finance and Revenue Muhammad Aurangzeb. The purpose of the meeting was to discuss strategies for increasing the flow of IT export remittances, which are essential to Pakistan’s economic development and digital economy. Participants looked at using the Roshan Digital Account to help freelancers and IT companies send money abroad. In order to empower IT workers and freelancers and improve Pakistan’s competitiveness internationally, the conversation emphasized the pressing need for access to…
Islamabad, Dec 13: Government officials who serve on the Board of Directors (BoG) of Pakistan Telecommunication Company Limited (PTCL) are eligible to receive up to Rs. 1 million per year, according to information provided to the Senate of Pakistan. Shaza Fatima Khawaja, Minister of State for IT and Telecommunication, provided these details in response to inquiries about the board members’ pay and benefits. In a written response to the Senate, the Minister said that the cap on government officials’ compensation is a component of the recommendations that the Finance Division released on July 10, 2024. According to these regulations, yearly…
Islamabad, Dec 13: The carmaker notified the primary stock exchange on Friday that Indus Motor Company Limited (PSX: INDU) would temporarily halt operations from December 16 to December 31, 2024. In a public filing, the business stated, “We would like to inform you that the company has scheduled its annual maintenance activities for the plant involved in the manufacturing and assembly of vehicles.” The company stated that it has decided to temporarily halt operations at its production site from December 16, 2024, to December 31, 2024, in light of the previously announced activities. The business is in charge of marketing,…
Islamabad, Dec 12: The server component of OpenSSH on Linux computers has a serious vulnerability, according to a Cyber Security Advisory released by the Pakistan Telecommunication Authority (PTA). This vulnerability, known as “regreSSHion” and identified as CVE-2024-6387, permits unauthenticated remote code execution (RCE) as root. OpenSSH versions 8.5p1 through 9.7p1 are vulnerable, and there is a serious chance that the entire system could be compromised. The alert claims that OpenSSH’s integration with glibc is the source of the vulnerability, which leaves systems open to possible exploitation. To fix the problem, OpenSSH maintainers have published security fixes. The PTA emphasized the…
Islamabad, Dec 12: The official winter vacation timetable for schools has been released by the Punjab government. Beginning on December 20, 2024, and lasting until January 10, 2025, the break will provide workers and students with a 20-day vacation. Noting that Punjab’s public and private schools will use the same dates, Secretary Khalid Nazir Wattoo underlined the significance of preserving a balanced academic calendar. Parents are urged to engage in beneficial activities throughout the holiday in addition to relaxing. In addition to encouraging good habits throughout the winter months, it’s a chance to spend quality time with kids. It is…
Islamabad, Dec 12: Data on teachers interested in voluntary retirement, especially those between the ages of 50 and 55, has been requested by the School Education Department from district education authorities. Information on teachers who have completed 25 years of service has also been gathered, according to department sources. The agency has asked schools to submit this information as soon as possible, including the designation, date of birth, posting, and educational background of teachers who are looking to retire. According to additional sources, the department has about 8,000 senior instructors with FA qualifications and 12,000 matriculation-qualified teachers. In the meantime,…
Islamabad, Dec 12: Vivo seems to be preparing the launch of a new sub-brand named Jovi. Chinese smartphone makers frequently develop sub-brands to target particular market niches. This action is in line with the company’s past with its iQOO sub-brand and is reminiscent of rival Xiaomi’s Redmi and Poco strategies. Because Vivo has already associated the term Jovi with its AI assistant and system applications, users may be familiar with it. Recent events, however, suggest that Vivo might be transforming Jovi into a unique smartphone brand. Three forthcoming smartphones with the Jovi moniker are revealed by records from the GSMA…
