2018 April 05 : AsiaNet-Pakistan

Archive for April 5th, 2018

FBR urged to withdraw Alternative Corporate Tax

April 5, 2018 | General Business News

Karachi, April 05, 2018 (PPI-OT): Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the Federal Board of…

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Board of directors meeting of KotAddu Power Company Limited

April 5, 2018 | Board Meetings

Karachi, KotAddu Power Company Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on April 24, 2018 at Lahore. The agenda of the meeting will to consider the Quarterly Accounts for the period ended March 31, 2018. Further, the company has declared the closed period from April 05, 2018 to April 24, 2018. KotAddu Power Plant was built by the Pakistan Water and Power Development Authority in five phases between 1985 and 1996. It is located in KotAddu, district Muzaffargarh, Punjab. In April 1996, KotAddu 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 KotAddu Power Company Limited.

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Samsung offers reduced prices on Smartphones

April 5, 2018 | General Business News

Lahore, April 05, 2018 (PPI-OT): Samsung is a global technology leader. Its revolutionary products, powerful devices and award-winning innovations enjoy…

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TCS invests in Enhanced International Gateway in Lahore

April 5, 2018 | General Business News

Lahore, April 05, 2018 (PPI-OT): TCS Holdings (Pvt.) Ltd, Pakistan’s most recognized courier, logistics and e-commerce provider, has inaugurated its…

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Ecuador wants enhanced trade relations with Pakistan

April 5, 2018 | General Business News

Islamabad, April 05, 2018 (PPI-OT): H.E. German Alejandro Ortega Almeida, Ambassador of Ecuador visited Islamabad Chamber of Commerce and Industry…

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Pakistan’s liquid foreign reserves position

April 5, 2018 | General Business News

Karachi, April 05, 2018 (PPI-OT): The total liquid foreign reserves held by the country stood at US$17,796.4 million on 30…

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A workshop with contributors to the World Bank Doing Business Report

April 5, 2018 | General Business News

Karachi, April 05, 2018 (PPI-OT): A workshop with contributors to the World Bank Doing Business Report has been held in…

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Board of directors meeting of Mari Petroleum Company Limited

April 5, 2018 | Board Meetings

Karachi, Mari Petroleum Company Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on April 16, 2018 at Karachi. The agenda of the meeting will to consider the Quarterly Accounts for the period ended March 31, 2018. Further, the company has declared the closed period from April 09, 2018 to April 16, 2018. Mari Gas Field was originally owned by Pakistan Stanvac Petroleum Project, a joint venture formed in 1954 between Government of Pakistan and M/s Esso Eastern Incorporated, having 49% and 51% ownership interest, respectively. The first gas discovery was made by the Joint Venture in 1957 when the first well in lower Kirthar ‘Zone-B’ Limestone Formation was drilled. Production from the field started in 1967. In 1983, M/s Esso Eastern transferred its entire share to Fauji Foundation, which set up a public limited company for the purpose of acquiring the assets and liabilities of the Project. In 2001, the Company expanded its operations and entered into exploration business. The Company is now a major player in the Country’s oil and gas exploration and production sector operating eleven exploration and production assets (two D&P leases and nine operated blocks) and has partnership with leading national and international E&P companies in six non-operated blocks. To reflect its diversified business operations and expanded activities, the name of the Company was changed from “Mari Gas Company Limited” to “Mari Petroleum Company Limited” (MPCL) in November 2012.

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Daraz will hold flash sale for Redmi 5 Plus today

April 5, 2018 | General Business News

Karachi, April 05, 2018 (PPI-OT): Mi Pakistan, the official representative of Xiaomi China in Pakistan, has held four flash sales…

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PSO and FAW Motors China working to Modernize PSO fleet to support CPEC Infrastructure

April 5, 2018 | General Business News

Karachi, April 05, 2018 (PPI-OT):Pakistan State Oil (PSO), with support from carriage contractors, continues to induct the latest vehicles into…

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Board of directors meeting of Pakistan Paper Products Limited

April 5, 2018 | Board Meetings

Karachi, Pakistan Paper Products Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on April 24, 2018 at Karachi. The agenda of the meeting will to consider the Quarterly Accounts for the period ended March 31, 2018. Further, the company has declared the closed period from April 15, 2018 to April 24, 2018. Pakistan Paper Products Limited is a company incorporated in Pakistan on July, 1962 as a private limited company. It later converted into public limited company and the foundations are laid under the Companies Ordinance, 1984. The principal activity of the company is production and sale of sensitized papers, pro-labels and exercise books. The shares of the company are quoted on Karachi Stock Exchange of Pakistan. The registered office of the company is situated at Karachi. The symbol “PPP” is being used by the stock exchange for the shares of Pakistan Paper Products Limited.

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Minister of State for Finance visits HVACR Expo

April 5, 2018 | General Business News

Islamabad, April 05, 2018 (PPI-OT):Minister of State for Finance Rana Muhammad Afzal Khan here on Thursday witnessed the 25th HVACR…

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