ECC approves provision of 300,000 metric ton of wheat to AJK dunyanews.tv - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dunyanews.tv Daily Mail and Mail on Sunday newspapers.
EETL’s expansion plan hits snag
Business
May 20, 2021
LAHORE: Engro Elengy Terminal Private Limited (EETL) could not expand its re-gasified liquified natural gas (RLNG) capacity due to red-tapism, while the approvals are awaiting clearance from National Accountability Bureau (NAB), The News learnt on Wednesday.
Sources said Sui Southern Gas Company (SSGC) is not giving necessary approvals on account of unsubstantiated excuses, like violation of procurement rules and NAB inquiries. “Neither EETL nor its partner is implicated in any NAB inquiry. Misinformation of this degree is propagated only to halt progress and, instead, protect the existing monopolistic structure of today’s gas market,” a company official said, requesting anonymity.
Daily Times Fawad warns if Covid SOPs aren t implemented in Karachi, whole country will be affected soon
May 5, 2021
The federal cabinet on Tuesday approved two important ordinances as part of the electoral reforms process to ensure transparency in elections and grant right of vote to the overseas Pakistanis by introduction of modern technology.
Briefing media about the decisions taken in the cabinet meeting, chaired by Prime Minister Imran Khan, Minister for Information and Broadcasting Chaudhry Fawad Hussain said one ordinance would enable the Election Commission of Pakistan (ECP) to use electronic voting machines (EVMs) in elections and the other would empower it to take steps to give voting right to the overseas Pakistanis.
KSE-100 dives 2.7% as Covid cases rise
Stocks battered as fears of lockdown and impact on economy intensify
KARACHI:
The euphoria of the past two weeks subsided as the Pakistan Stock Exchange felt the brunt of rising coronavirus infections across the country. The spike in Covid cases, coupled with developments on the political front mounted selling pressure, pushing the index 1,221 points or 2.7% in the red to end at 44,301 points.
Bears took control on Monday as the market plunged over 1,000 points on back of surging Covid-19 cases, particularly in Punjab, due to which the government also imposed a smart lockdown in various districts.
Market watch: Bourse turns bearish, falls 160 points
Benchmark KSE-100 index dips 0.36% to settle at 44,428.1
Shares of 391 companies were traded. At the end of the day, 102 stocks closed higher. PHOTO: REUTERS
KARACHI:
Despite a host of positive news reports, Pakistan bourse turned bearish on Thursday as the KSE-100 index shed 160 points primarily due to cabinet’s refusal to resume trade with India.
In view of shortage of sugar and cotton, the Economic Coordination Committee on Wednesday gave the go-ahead to economic managers to import the commodities from the neighbouring country. However, the cabinet did not endorse it.
In addition to that, rising Covid-19 cases across the country dented investor spirits as fears mounted of a nationwide lockdown. Many European nations also moved to either toughen the lockdown restrictions or impose a nationwide lockdown in wake of soaring infections.