2016 March : AsiaNet-Pakistan

Archive for March, 2016

Six Commodores of Pakistan Navy promoted Rear Admiral

March 31, 2016 | General

Islamabad, March 31, 2016 (PPI-OT):Six Commodores namely Dr. Nassar Ikram, Sajid Wazir Khan, Asif Hameed, Zain Zulfiqar, Faisal Rasul Lodhi and Zahid Ilyas have been promoted to the rank of […]

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Asian Development Bank approves $197 million loan for Highway Rehabilitation in Pakistan

March 31, 2016 | General

Manila, March 31, 2016 (PPI-OT):The Asian Development Bank (ADB) has approved a project loan of nearly $197 million to continue rebuilding highways and bridges damaged in Pakistan’s worst-ever floods in […]

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Pakistan to join group of developed nations on completion of road network of China-Pak Economic Corridor: National Highway Authority

March 31, 2016 | General

Lahore, March 31, 2016 (PPI-OT):National Highway Authority (NHA) Member Central Zone Abdul Samad Khan has said that the country is going to join group of developed nations with completion of […]

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Securities and Exchange Commission of Pakistan, CFA Society Pakistan to sign accord

March 31, 2016 | General

Islamabad, March 31, 2016 (PPI-OT):The Securities and Exchange Commission of Pakistan (SECP) will sign a memorandum of understanding (MoU) with CFA Society Pakistan (CFAP) to promote investor protection and financial […]

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Board meeting of Bestway Cement Limited to be held on April 07, 2016

March 31, 2016 | Board Meetings

Karachi, Bestway Cement Limited informed Pakistan Stock Exchange that board meeting of the company is scheduled to be held on April 07, 2016 at Islamabad. The agenda of the meeting is to consider scheme of amalgamation of Pakcem Limited with and into Bestway Cement Limited. Further, the closed period of the company shall be from March 31, 2016 to April 07, 2016. Bestway Cement Limited is a public limited company incorporated in Pakistan on December 22, 1993. The foundation of the company is laid under the Companies Ordinance, 1984. The principal activity of the company is production and sale of cement. The products in which the company deals are Ordinary Portland Cement, Sulphate Resistant Cement, Quick Setting Cement, Low Alkali Ordinary Portland Cement and Clinker. The shares of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located in Islamabad. The symbol “BWCL” is being used by the stock exchanges for the shares of Bestway Cement Limited.

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Board meeting of Kot Addu Power Company Limited to be held on April 21, 2016

March 31, 2016 | Board Meetings

Karachi, Kot Addu Power Company Limited informed Pakistan Stock Exchange that board meeting of the company is scheduled to be held on April 21, 2016 at Kot Addu. The agenda of the meeting shall be consideration of third quarter accounts for period ended March 31, 2016. Further, the closed period of the company shall be from April 01, 2016 to April 21, 2016. Kot Addu Power Plant was built by the Pakistan Water and Power Development Authority in five phases between 1985 and 1996. It is located in Kot Addu, district Muzaffargarh, Punjab. In April 1996, Kot Addu Power Company Limited was incorporated as a public limited company under the Companies Ordinance, 1984 with the objective of acquiring the Power Plant from WAPDA. The principal activities of KAPCO include the ownership, operation and maintenance of the power plant. Successful completion of the offer for sale by the privatization commission on behalf of WAPDA in February 2005, 18% of KAPCO’s shareholding is now held by the general public. KAPCO is listed on the Karachi, Islamabad and Lahore Stock Exchanges of Pakistan. KAPCO is an independent power producer with a capacity of 1600 MW. It comprises of ten multi fuel fired gas turbines and five steam turbines which are divided into three energy blocks with each block having a combination of gas and steam turbines. The power plant operates using combined cycle technology which enables it to use the waste heat from the gas turbine exhaust to produce steam in the heat recovery steam generator. It is a multi fuel gas turbine power plant with the capability of using natural gas, low sulphur furnace oil and high speed diesel to generate electricity. The symbol “KAPCO” is being used by the stock exchange for the shares of Kot Addu Power Company Limited.

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Change of Directors of Pak Elektron Limited

March 31, 2016 | General

Karachi, Pak Elektron Limited informed Pakistan Stock Exchange about appointment of Mr. Asad ullah Khawaja (NIT Nominee) and Sheikh Muhammad Shakeel as Directors of the company in place of Mr. Syed Zubair Ahmed Shah (NIT Nominee) and Mr. Munaf Ibrahim with effect from March 31, 2016 . Pak Elektron Limited was incorporated in Pakistan on March 03, 1956 as a public limited company. The foundations of the company are developed under the Companies Ordinance, 1984. The principal activity of the company is manufacturing and sale of electrical capital goods and domestic appliances. It is currently organized into two main operating divisions the power division and appliances division. The stocks of the company are quoted on the Karachi Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Lahore. The activities of the company in the power division include manufacturing and distribution of transformers, switchgears, energy meters, power transformers, construction of grid stations and electrification works. The appliance division is associated with manufacturing, assembling and distribution of refrigerators, air conditioners, microwave ovens, televisions, generators and washing machines. The symbol “PAEL” is being used by the stock exchanges for the shares of Pak Elektron Limited.

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Financial results of Pak Elektron Limited for the period ended Dec 31, 2015

March 31, 2016 | General

Karachi, Pak Elektron Limited informed Pakistan Stock Exchange about recommendations made by the board of directors in the meeting held at Lahore on March 31, 2016. The agenda of the meeting was discussion of profit and loss account for year ended Dec 31, 2015, which portrayed a profit of Rs. 2,880,021 of consolidated profit and loss account and earnings per share 7.13 basic and diluted. Further, nil payment of cash dividend, bonus shares and right shares was agreed. The annual general meeting of the company is scheduled to be held on April 28, 2016 at the registered office of the company in Lahore. Further, the share transfer books of the company will remain closed from May 05, 2016 to May 11, 2016 (both days inclusive). Pak Elektron Limited was incorporated in Pakistan on March 03, 1956 as a public limited company. The foundations of the company are developed under the Companies Ordinance, 1984. The principal activity of the company is manufacturing and sale of electrical capital goods and domestic appliances. It is currently organized into two main operating divisions the power division and appliances division. The stocks of the company are quoted on the Karachi Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Lahore. The activities of the company in the power division include manufacturing and distribution of transformers, switchgears, energy meters, power transformers, construction of grid stations and electrification works. The appliance division is associated with manufacturing, assembling and distribution of refrigerators, air conditioners, microwave ovens, televisions, generators and washing machines. The symbol “PAEL” is being used by the stock exchanges for the shares of Pak Elektron Limited.

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Improvements in some of the macroeconomic indicators observed, says State Bank of Pakistan’s Second Quarterly Report

March 31, 2016 | Business

Karachi, March 31, 2016 (PPI-OT):State Bank of Pakistan has today released its Second Quarterly Report for FY16 on the state of Pakistan’s Economy. According to the Report, improvements in some […]

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Investor Awareness: Securities and Exchange Commission of Pakistan organizes awareness seminar at Mari Petroleum Company Limited

March 31, 2016 | General

Islamabad, March 31, 2016 (PPI-OT):The Securities and Exchange Commission of Pakistan (SECP) in collaboration with Mari Petroleum Company Limited (MPCL) conducted an awareness session for the employees of MPCL at […]

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Seminar on Controlling Corruption in Pakistan by National Accountability Bureau Karachi in collaboration with University of Karachi held

March 31, 2016 | General

Karachi, March 31, 2016 (PPI-OT):NAB Karachi in collaboration with University of Karachi organized a seminar on the topic of Controlling Corruption in Pakistan. The program started with the welcome speech […]

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Meeting of Syed Tariq Fatemi with Chinese Foreign Minister

March 31, 2016 | Ministries

Islamabad, March 31, 2016 (PPI-OT):The Minister of State for Foreign Affairs, and the Special Assistant to the Prime Minister on Foreign Affairs (SAPM), Syed Tariq Fatemi, held a bilateral meeting […]

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