Islamabad, Aug 30: The Joint Venture of Sinjhoro Block comprising Oil & Gas Development Company Limited (PSX: OGDC), Orient Petroleum (19 percent) & GHPL (5 percent) has made gas condensate discovery at the Baloch-2 well in the exploratory zone of Sembar Formation, in Baloch Development and Production Lease (D&PL), Sinjhoro Exploration Licence, located in District Sanghar, Sindh Province. OGDC is the Operator of the exploratory well with 76 percent working interest. Baloch-2 well was spudded-in on February 24, 2024, and drilled down to total depth of 3,920m TVD in Sembar Formation as an exploratory effort by OGDCL, with in-house evaluation…
Author: Mawadat Fatima
Islamabad, Aug 30: Out of the 3.1 million merchants in Pakistan, only 270,000 (8.7%) submitted tax reports and paid a total of Rs. 34 billion in the preceding tax year. In the meantime, during the review period, the salaried class paid Rs. 375 billion in taxes; because of higher tax rates, this amount is anticipated to increase to Rs. 450 billion in the current fiscal year. 80–90 billion rupees were supplied by exporters previous year. They have since been moved to the standard tax system, though. Meanwhile, large landowners paid only Rs. 2 billion in Agriculture Income Tax (AIT). Further…
Islamabad, Aug 30: Due to the continuous, intense rains in Karachi, the Federal Urdu University has announced that its admission exam, which was initially planned for tomorrow, has been postponed. Dr. Mohammad Rashid Tanveer, Director of Admissions, has verified that individuals seeking for MPhil, MS, and PhD programs are impacted by the decision. In order to protect the safety and comfort of all applicants, university administrators decided to reschedule the tests due to the unfavorable weather and rain, which have affected daily life around Karachi. The new date of the admission examinations is Friday, September 6, at 3 PM. To…
Islamabad, Aug 30: Due to the ongoing rain on Friday, the second Test between Pakistan and Bangladesh at the Rawalpindi Cricket Stadium has been postponed. The planned toss and play have been impeded by persistent showers in Rawalpindi and Islamabad since early in the morning, leaving the outfield flooded and unsuitable for cricket play. The weather forecast indicates that there will be sporadic rain throughout the morning and maybe into the afternoon, which will make it more difficult to start the match on time. When the weather permits, a roller will be used to prepare the pitch, which has been…
Islamabad, Aug 30; SECP Announces New Financial Statement Disclosure Rules for Listed Companies. New disclosure criteria for financial statements by listed firms and their subsidiaries that do not have their primary business activity involved in Shariah-compliant activities have been announced by the Securities and Exchange Commission of Pakistan (SECP). S. R. O.1278(I)/2024, which amends the Fourth Schedule of the Companies Act of 2017, has been released by the SECP. The following must be disclosed in a standalone and consolidated financial statement in accordance with Section 228 of the Securities Act by every listed company and its subsidiary that does not engage…
Islamabad, Aug 29: Data released by the central bank on Thursday showed that the State Bank of Pakistan’s (SBP) foreign exchange reserves showed a weekly gain of $112 million. The SBP reported that as of August 23, its foreign currency reserves stood at $9.403 billion, up $112 million from $9.292 billion on August 16. This information is based on the most recent statistics that the SBP has made available. With net reserves held by institutions other than the SBP included, the nation’s total liquid foreign currency reserves were $14.776 billion, an increase of $109 million from the previous week. Bank…
Islamabad, Aug 29: More than five years have passed since the introduction of foldable cellphones. The industry is looking forward to tri-fold gadgets as the next evolutionary step as the technology advances. After major manufacturers like Huawei and Tecno leaked images of their tri-fold prototypes, Oppo is now taking center stage to present its interpretation of this innovative form factor. With a rendering of its next tri-fold smartphone, Oppo is giving consumers a glimpse into the future of foldable smartphones. Product manager for the Oppo Find series Zhou Yibao posted a picture of the gadget that highlights its unique design,…
Islamabad, Aug 29: Strict health standards for pilgrims are imposed by the Saudi Ministry of Hajj and Umrah in their new health advise for Hajj 2025. A Religious Affairs representative stated that people with serious medical issues will not be allowed to make the journey. Strict health restrictions have been enforced by the Saudi Ministry of Hajj and Umrah due to the expected bad weather during the Hajj season. Only those in good health and physical condition will be permitted to complete the Hajj. Pregnant women and children under the age of twelve will not be allowed to perform the…
Islamabad, Aug 29: The deadline for all school boards in the state to release the results of their intermediate and matriculation exams is September 15th, according to a schedule published by Muhammad Abbas Baloch, Secretary of Sindh Universities & Boards. A press announcement released on Wednesday night states that in order to guarantee consistency and prompt delivery, all boards in the province have been told to make the results public by September 15. Results in Larkana will be released on August 29; results in Hyderabad and Mirpurkhas will be released by September 5. The results of the science group will…
Islamabad, Aug 29: The introduction of new undergraduate degree programs was approved at the 56th academic council meeting of the University of Agriculture (UoA) Peshawar on Wednesday. The meeting was presided over by Vice Chancellor Emeritus Prof. Dr. Jehan Bakht. Professors, faculty members, and elected representatives were present at the gathering. In order to improve the university’s academic offerings, the council approved a number of academic initiatives. Among these were the addition of new undergraduate degree programs, including BS Agriculture Development, BS Development Studies, BS Economics, and BS Sociology. Prof. Dr. Jehan Bakht, vice chancellor, thanked everyone for a well-run…