Tuesday, September 1st, 2020
SC rules enforcement of NEPRA law in Sindh load shedding case
ISLAMABAD : A Supreme Court bench on Tuesday ordered enforcement of Section 26 of the NEPRA law in suo moto hearing of Sindh load shedding case. A division bench of the apex court headed by Chief Justice Gulzar Ahmed heard the case. “Under the law the National Electric Power Regulatory Authority (NEPRA) has been empowered to conduct public hearing and take a decision,” the bench said. The electric power regulator should take decision under the NEPRA law about special power to K-Electric for supply of electricity, the court said. TheRead More
Pakistan’s Serene Air to commence international operations next month
Pakistan’s airline Serene Air is all set to commence its international operations from the next month. As per details, the airline which will be the third largest in the country after the Pakistan International Airlines (PIA) and AirBlue will start its operations in October, with Dubai being its first international destination. “Serene Air is ready to commence international operations to Dubai and Sharjah in the UAE and followed by Jeddah and Riyadh in Saudi Arabia,” said Safdar Khan, CEO of Serene Air. Safdar further added that his company has done itsRead More
Senior US, Israeli officials land in Abu Dhabi
ABU DHABI: Senior US and Israeli officials landed in the United Arab Emirates on Monday on a historic trip to finalise a pact marking open relations between Israel and the Gulf state, and they told Palestinians it was now time for them to negotiate peace. White House senior adviser Jared Kushner also said on arrival that Washington could maintain Israel’s military edge while advancing its ties to the UAE, the Arab world’s second largest economy and a regional power. In apparently unrelated incidents, two blasts at restaurants in Abu DhabiRead More
BankIslami posts Profit After Tax of over Rs.1 Billion for HY2020
DNA KARACHI, SEPT 1 – The Board of Directors of BankIslami Pakistan Limited (‘The Bank’ or ‘BankIslami’) in their meeting held on August 28, 2020 in Karachi approved the Bank’s interim financial results for the first half year ended June 30, 2020. BankIslami generated operating profits (before provisions and tax) to the tune of Rs. 3,382 Mn, registered a growth of 89% from last year. Growth in operating profits was driven by higher spreads, enhancement in core earning assets on the back of increase in deposits and improvement in cost toRead More
Japan a time tested friend of Pakistan: Hafeez
DNA ISLAMABAD, SEPT 1- Japanese Ambassador to Pakistan Kuninori Matsuda called on the Adviser to Prime Minister on Finance and Revenue Hafeez Shaikh at the Ministry of Finance. The Adviser welcomed the Ambassador and said that Japan is a time tested friend of Pakistan and has always supported the country. He expressed confidence that Pakistan’s relationship with Japan will continue to become stronger with every passing day. The Ambassador thanked the Adviser for his support and good wishes. The Ambassador expressed condolences on the loss of lives and property duringRead More
Majority of projects based on political considerations: PEW
DNA ISLAMABAD, SEPT 1 – The Pakistan Economy Watch (PEW) on Tuesday said the tendency of politicians to prefer symbolic and fancy projects over necessary projects have inflicted heavy losses on the country. During the last fifty years, the majority of projects were designed to please the politicians while national interests were simply compromised, it said. Billions were borrowed for fancy projects which was criminal while health, education, provision of clean drinking water, sanitation and supporting industrial and agricultural sectors was simply ignored, said Dr. Murtaza Mughal, President PEW. He saidRead More