Islamabad, Sep 9: The Senate Standing Committee on IT and Telecom was alerted on Monday the Pakistan Telecommunication Authority (PTA) to the possibility of severe network outages and problems should the licenses of Long Distance International (LDI) businesses not be renewed. If foreign companies cease operations owing to non-payment of outstanding dues, PTA authorities stated it would take a long time to rebuild the network. They added that insufficient capacity exists even for Pakistan Telecommunication Company Limited (PTCL) to handle the ensuing deficit. Major General (R) Hafeezur Rehman, the chairman of the PTA, informed the committee that although several LDI…
Author: Mawadat Fatima
Islamabad, Sep 9: Zeeshan Tayyeb, the chief operating officer of Gas & Oil Pakistan Ltd (GO), stated on Monday that “no Aramco site has been commissioned anywhere in Pakistan so far.” Tayyeb stated in a statement that a formal announcement will be made at the proper time in this regard. According to GO, the correction was released in reaction to the false information and image that were making the rounds on social media. The Saudi oil firm Aramco’s corporate partner in Pakistan, GO, has stated that no site has been put into service and that the image is of a…
Islamabad, Sep 9: A senior delegation from the International Cricket Council (ICC) will visit Pakistan this week to assess the arrangements for the 2025 ICC Champions Trophy. Senior representatives from several ICC departments will be among the six-person group, and they will evaluate Pakistan’s preparedness to host the esteemed occasion. This will be the final inspection by the ICC before the tournament, following three prior visits by event personnel, pitch consultants, and security experts. The delegation’s main priorities will be to assess venue conditions, critical infrastructure, and overall logistics. Over the course of the five-day visit, major locations in Karachi,…
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…
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…