ISLAMABAD JULY 29: Owing to the persistently hot weather, the Federal Ministry of Education declared on Sunday that the summer break for schools and institutions in Islamabad will now last until August 4. Now, August 5 is when schools and universities will reopen. Due to the weather, the Sindh Education Department has already extended the province’s summer holiday till August 14. Strong monsoon currents are predicted to enter the upper regions on Friday night and will likely travel to the central and southern regions by July 29. This information was released by the PMD in a statement on Friday.
Author: Mawadat Fatima
ISLAMABAD JULY29: Pakistan Oilfields Limited (PSX: POL) informed the main exchange on Monday that the Hungarian Oil and Gas Public Limited Company MOL Group has found hydrocarbons in TAL Block in the exploration well Razgir-1, Khyber Pakhtunkhwa, which was spudded on January 09, 2024. The Drill Stem Test (DST) was performed at the well to evaluate the potential of the Lumshiwal formation. The test resulted in the well testing 20 MMscf of gas per day and 250 barrels of condensate per day at a fixed choke size of 40/64 at 2,348 psi flowing wellhead pressure. Pakistan Oilfields Limited’s pre-commerciality operating…
ISLAMABAD JULY 29: The children of police martyrs in many districts, including Lahore, would get educational scholarships worth Rs12.5 million, according to the Inspector General of Police (IG). The purpose of these scholarships is to help the children of courageous officers who died while performing their duties pursue higher education. A total of Rs 2 million has been set aside expressly for the children of Lahore police martyrs. The families of martyrs from other districts receive the remaining cash at the same time. The Punjab Highway Patrol (PHP), traffic police, special branch, Punjab Constabulary, Counter Terrorism Department (CTD), and telecommunication…
ISLAMABAD JULY 29: The Federal Board of Revenue (FBR) personnel who have been called in tax refund cases cannot be subjected to coercion by the Federal Investigation Agency (FIA) due to an order from the Lahore High Court. In a ruling, LHC judge Tariq Saleem Sheikh forbade the FIA from using any form of coercion against the FBR officials. The petitioners’ attorney has argued that an examination and investigation under the Act’s provisions must be carried out with regard to the offenses covered by the Act’s schedule. It is relevant to note that the FIA had summoned FBR officers, including…
ISLAMADAD JULY29: Pakistan saw record rice exports in FY24, up 78% from the previous year to $3.88 billion. The industry isn’t rejoicing, either, since it faced several difficulties at once, which exacerbated the market’s already high volatility. To begin with, India is anticipated to relax limitations on its rice imports, which were a major factor in Pakistan’s record exports last year. India levied tariffs on non-basmati white rice and outlawed the export of broken rice in August 2022. Subsequently, in July 2023, exports of non-basmati rice were prohibited, and in August, more limitations were placed on the sale of basmati…
ISLAMABAD JULY28: There has been a significant rise in DAP pricing reported by Fauji Fertilizer Company Limited (PSX: FFC) and Fauji Fertilizer bin Qasim Limited (PSX: FFBL). It was informed by JS Global that FFC and FFBL had raised the price of DAP by Rs. 450 per bag. The new rates for FFC and FFBL are Rs. 11,665 and Rs. 11,715 per bag, respectively. The recent spike in fertilizer costs might have catastrophic effects on farmers and the country’s ability to feed itself. Small farmers that have little financial flow will be more negatively impacted than large setups since they…
Within the portfolio of thermal energy assets, a merger proposal has been authorized by the Competition Commission of Pakistan (CCP). In this deal, M/s Engro Energy Limited and a consortium are buying around 50.10 percent of M/s Engro PowerAgent Thar (Pvt.) Limited. A consortium made up of M/s Liberty Power Holding (Pvt) Limited, M/s Sporty Enterprises (Pvt) Limited, and M/s Procon Engineering (Private) Limited has entered into a share purchase agreement (SPA) with Engro Energy Limited, a wholly owned subsidiary of Engro Corporation Limited, in order to sell its thermal energy assets. Engro, which has made significant contributions to Pakistan’s…
ISLAMABAD JULY 28: Despite having GSP+ status, which permits duty-free entrance into the majority of European markets, Pakistan’s exports to European nations decreased 3.12% in FY24, a development that seems to be of great worry to policymakers. Pakistan’s exports to the European Union decreased to $8.240 billion in FY24 from $8.505 billion the year before, based on figures provided by the State Bank of Pakistan. Reduced demand for Pakistani commodities in western, southern, and northern Europe was the primary cause of the fall. The European Parliament overwhelmingly decided in October 2023 to prolong the GSP+ status—which allows poor nations like Pakistan…
ISLAMABAD JULY27: Sound Search is a new feature that TikTok is releasing to rival Shazam and YouTube Music. With this function, users may search for songs by humming, singing along, or playing a brief segment of the song. The business has acknowledged that Sound Search is now being tested in a few nations. On TikTok, there’s a new way to find music: Sound Search. Given how quickly music trends on the app shift, this feature might be useful for users to discover and comprehend what’s trending. You can use the function by hitting the microphone icon on TikTok, selecting “Sound…
ISLAMABAD JULY27: The AS Level Mathematics test paper leak that occurred online before to the exam has been investigated and resolved by Cambridge International Education (CIE). The organization has made the decision to postpone the exam after two and a half months of investigation. The performance of the students in the second test paper will now determine their scores for the AS Level Mathematics course. Cambridge sent an email to principals informing them that they had examined data indicating that several students in Pakistan had access to the AS Level Mathematics paper prior to the test. “Making sure we are…
