Islamabad, Sep 9: The federal government has notified the International Monetary Fund (IMF) that the circular debt of the power sector is expected to increase by Rs. 100 billion during the current fiscal year. It is anticipated that the total circular debt will surpass Rs. 2.55 trillion by June 2025. According to current data, the circular debt of the power sector has already increased by Rs 2.4 trillion. The IMF has encouraged the government to act quickly to contain circular debt, expressing displeasure with the way it has being managed. Preventing the circular debt from rising above Rs. is one…
Author: Mawadat Fatima
Islamabad, Sep 9: The government’s proposal to sell property that was initially purchased for colleges in Khyber Pakhtunkhwa (K-P) has caused a great deal of controversy, and opposition leaders have vowed to use all available methods to thwart it. The province administration feels obliged to sell underutilized university land in order to meet its financial obligations, according to sources from the Higher Education Department. The province government is under pressure to settle an outstanding landowner debt of Rs. 25 billion. The Express Tribune was able to collect information that 5,000 kanals of land were acquired for the Bacha Khan Greater…
Islamabad, Sep 9: Pakistan’s Asian Hockey Champions Trophy campaign is still in jeopardy following two straight 2-2 draws—with Malaysia and South Korea. In the most recent game, which took place in Hulunbuir, China, Pakistan once more lost a late advantage, frustrating supporters who witnessed South Korea score in the final seconds. In the first quarter, South Korea took command and led 1-0, but Pakistan rallied swiftly in the fourth quarter. With two well-executed goals, Hanan Shahid altered the tide of the match and gave Pakistan a 2-1 lead. But just when victory seems imminent, South Korea grabbed an equalizer in…
Islamabad, Sep 9: Ferozsons Laboratories IPO BF Biosciences Limited’s application for listing has been approved by the Pakistan Stock Exchange (PSX) and the Securities and Exchange Commission of Pakistan (SECP). Using the Book Building Method, a total of 25 million ordinary shares with a par value of Rs. 3 each will be issued in the Initial Public Offering, with a floor price of Rs. 55/-per share. The Drug Regulatory Authority of Pakistan (DRAP) has granted BF Biosciences approval for its brownfield expansion (Line II), which includes a section dedicated to product development, a line of pre-filled syringes, and a line…
Islamabad, Sep 9: The Foreign Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Monday. CONVERSION RATES FOR SEPTEMBER 09, 2024, FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE-25 DEPOSITS) SBP SETTLEMENT VALUE DATE SEPTEMBER 11, 2024 USD 278.4824 GBP 367.0676 EUR 309.4775 JPY 1.9543
Islamabad, Sep 9: Gold Rate in Pakistan Today per tola price of 24 karat gold decreased by Rs.1,100 and was sold at Rs.260,400 on Monday compared to its sale at Rs. 261,500 on last trading day. The price of 10 grams of 24 karat gold also decreased by Rs.943 to Rs. 223,251 from Rs. 224,194 whereas the price of 10-gram 22 karat gold went down to Rs.204,647 from Rs. 205,511, the All-Sindh Sarafa Jewellers Association reported. The price of per tola and ten-gram silver remained constant at Rs.2,850 and Rs.2,443.41 respectively. The price of gold in the international market decreased…
Islamabad, Sep 9: Only a few days till Apple’s iPhone 16 debut, last-minute leaks are destroying any final bits of surprise. The most recent leak comes from a fresh rumor that includes information on the new flagship’s photography capabilities as well as an update on Apple’s revolutionary touch-sensitive capture button, which is set to revolutionize how people take photos with their iPhones. The first piece of news, courtesy of sources close to 9to5Mac, is that Up to 120 frames per second (4K) video capturing is anticipated for the upcoming iPhone 16 Pro. This is twice as fast as the existing…
Islamabad, Sep 9: A 42-year-old passenger on a foreign airline flight from Sharjah to Dhaka passed away in midair, necessitating an emergency landing at Karachi airport. According to reports at the airport, the passenger’s condition unexpectedly deteriorated while traveling. The pilot asked Karachi’s Air Traffic Control (ATC) for immediate permission to land due to the medical emergency. Civil Aviation Authority (CAA) spokesperson: “Flight G-9512 safely touched down at Karachi airport after the ATC promptly granted the request.” Upon landing, a medical team from the CAA boarded the aircraft to evaluate the passenger’s condition. Sadly, the team confirmed that the passenger…
Islamabad, Sep 9: The 49.5 MW Sindh-based wind power facility owned by Tenaga Generasi Limited (TGL) has not been purchased by Artistic Milliners (Private) Limited. “The Share Purchase Agreement’s deadline for meeting the requirements needed to complete the transaction could not be met. The buyer has chosen not to move forward with the transaction, despite the Company’s best efforts to move forward with it, according to the stock filing. 75% of TGL’s outstanding paid-up capital, or 227 million shares, are owned by Dawood Lawrencepur Limited (PSX: DLL), which also holds 5 shares held by TGL’s directors. On February 12, 2024,…
Islamabad, Sep 9: Lucky Core Industries Limited (PSX: LCI) has notified the main bourse on Monday that it has successfully acquired a manufacturing facility situated at B2 SITE Karachi that is held by Pfizer Pakistan Limited. Additionally, LCI has acquired various pharmaceutical items. According to the stock filing, the asset acquisition was finished on September 06, 2024, in compliance with the Asset Purchase Agreements signed by the parties. The following pharmaceutical goods have been registered:(1) Ansaid;(2) Ponstan;(3) Ponstan Forte;(4) Basoquin;(5) Deltacortril;(6) Lysovit;(7) Corex-D; and (8) Mycitracin; moreover, trademarks related to these pharmaceutical products from pertinent Pfizer group businesses are included. …
