In an announcement, PSX said UDLI is being listed on the Exchange pursuant to the Scheme of Arrangement for merger/ amalgamation of First UDL Modaraba (FUDLM) with and into UDL International Limited sanctioned by the Sindh High Court vide Order dated November 02, 2023. As per the swap ratio disclosed in the scheme, the certificate holders of FUDLM have been allotted 1 share of UDLI against 1 certificate of FUDLM. The company’s shares will be traded starting tomorrow, Wednesday, on the PSX Main Board. Trades will be settled on a T+2 basis. July 12, 2024, will be the first settlement…
Author: Iqra Khan
The tout mafia is not allowed to enter the grounds of the Islamabad Traffic Police (ITP) driving license office. The purpose of this action is to improve the merit and openness of the licensing procedure. The traffic chief has firmly forbidden any suspicious person from visiting the office because of their involvement in unlawful actions linked to the driving license procedure, according to a statement released by the ITP. Known to operate out of major public service offices, the tout mafia charges exorbitant fees to citizens for various duties like as creating files, scheduling appointments, filling out paperwork, and providing…
The Islamabad Electric Supply Company (IESCO) has implemented a “Pro-rata” invoicing method to guarantee 100% accurate meter readings. For the convenience of its customers,Customers are billed under the Pro-rata system on a 30-31-day cycle, as stated in a recent statement by an IESCO representative.The spokesman clarified that IESCO uses the Pro-rata system, which matches meter readings with the days of the month, to regularly check and ensure accurate meter readings. The purpose of the pro-rata charging method is to directly benefit customers. Because less electricity is consumed in the winter, there are more protected consumers; in the summer, there are…
Wang Huihua, the managing director of China Energy Engineering Corporation (CEEC), declared plans to greatly expand funding for transmission line, hydropower, and renewable energy projects in Pakistan. Wang reported that negotiations are in progress with the Pakistani government to get an early financial close for the $1.5 billion, 700 MW Azad Pattan hydropower project. He noted that Pakistan’s energy capacity will be further enhanced by the $1.96 billion, 884 MW Suki Kinari hydropower project, which is almost ready to go into operation.MD According to CEEC, the business is presently working on projects in Pakistan valued at over $13 billion. Out…
In 2024, on July 16 and 17, the federal administration has announced a two-day vacation to commemorate Ashura, which falls on the ninth and tenth of Muharram.”The Prime Minister is pleased to declare 16th and 17th July 2024 (Tuesday and Wednesday) as public holidays on the occasion of Ashura (9th & 10th Moharram 1446 AH),” the Cabinet Division said in a notification on Tuesday.To protect public safety, however, the provincial governments have implemented stringent security measures. Prior to Ashura, Punjab enforced pillion riding throughout the province.In addition, the Sindh government banned pillion riding on Muharram 9 and 10 in order…
The leadership in the stock market just underwent a significant change. Apple has surpassed Microsoft to become the most valuable computer company in the world following a month of market volatility, in part because of a recent increase in share price backed by research firm Wedbush. This triumph follows a similar upset from last month, when NVIDIA briefly overtook Apple and Microsoft to take the top slot. However, NVIDIA’s hegemony was short-lived due to impulsive investor moves, most likely prompted by anticipation of the forthcoming summer holidays and earnings announcements. NVIDIA is currently firmly positioned in third place, while Apple…
Microsoft is forcing its Chinese workers to transition to iPhones for business reasons as part of a shift that prioritizes cybersecurity. With effect from September 2024, this new policy will no longer allow Android devices in the workplace in an effort to increase security.Because the operating system is less susceptible to security lapses, Microsoft believes that iPhones are intrinsically safer, according to a Bloomberg article that cites an internal paper. Chinese employees who presently own Android phones including well-known regional brands like Xiaomi and Huawei will have the option to trade them in for an iPhone 15 on a one-time…
This week, Finance Minister Muhammad Aurangzeb will visit China to negotiate a restructure of the country’s $15.4 billion energy debt. He would be accompanied by Planning Minister Ahsan Iqbal as well, Since Prime Minister Shehbaz Sharif has made the “re-profiling” of debt due to Chinese Independent Power Producers (IPPs) a top priority, the visit by the finance minister was scheduled with little notice.The administration intends to extend the grace period for loan repayment, which could lower foreign exchange outflows to $750 million per year. Pakistan requests a five-year reprieve from China on its energy debt. With this prolongation, the total…
The Provincial Development Working Party (PDWP) approved the plan of the Chief Minister to install solar power systems for agricultural tubewells throughout the province, during its meeting on Monday, It is anticipated that this project will cost about Rs. 9 billion. The council, presided over by Barrister Nabeel Awan, also authorized seven other development projects totaling more over Rs. 24 billion. One of the authorized initiatives is a project for an estimated Rs. 848.97 million that aims to prevent erosion on the left bank of the River Chenab in the Hafizabad district, notably at Kot Kameer and Behak Ahmad Yar.…
In response to allegations that its country manager in Bahrain had taken luggage belonging to passengers, Pakistan International Airlines (PIA) has provided clarification on the matter. According to the Pakistani embassy in Bahrain, there was a miscommunication involved in the event. According to a PIA representative, the airline does not maintain an office in Bahrain Airport. As a result, unclaimed luggage are moved to the city’s PIA central office. After that, the owners of these bags receive them. The spokeswoman clarified that the problem stemmed from the absence of an office at the airport and that there was no illegal…
