Today, Ethos Asset Management Inc., USA announced the formation of Ethos Commercial Consultancy JSC (ECC) in Istanbul, Turkey, a recent creation and addition to the Ethos Group. The company was incorporated
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The Quarter of A Billion Dollars Commodity Transaction: The Aftermath Daily Guide Network
International trade for this article is explained as, “a means of connecting a seller and a buyer to trade across countries for a particular good(s)/service(s) at an agreed price, with accepted payment instrument, and an acknowledged sanctioned working procedure”.
Trade is simply the selling and buying of goods or services. Where a seller puts across a good or service searching for a credible buyer, and the buyer seeks (agrees) to purchase the good or service of the seller. Buyers on the other hand, in an equal measure require a credible, efficient, track record and seller who can perform seamlessly.
LNG supply chain in jeopardy as PLL defaults on payments
National
February 11, 2021
ISLAMABAD: In a shocking development, the 100 percent state-owned company, Pakistan LNG Limited (PLL), has defaulted with the United Bank Limited (UBL) on LNG payments, putting the LNG supply chain in jeopardy.
This appalling situation, which has emerged because of non-payment of dues of Rs61.2 billion by Sui Northern, has exposed PLL to an imminent default on future LNG supply. This irritating development was identified in Pakistan LNG Limited’s (PLL) letter of February 4, 2021 to Special Secretary of Petroleum Division Nadeem Irshad Kiyani. It mentions that receivables of PLL from Sui Northern Gas Pipelines Limited have increased to a whopping Rs61.2 billion. And because of non-payment by Sui Northern, its economic miseries have increased to a new high because of which it defaulted with UBL on LNG payments on February 3, 2021.
GENCOs, SNGPL, PIA have to pay Rs259 bn to PSO
National
January 21, 2021
ISLAMABAD: The state-owned electric generation companies (GENCOs) have defaulted on payment of Pakistan State Oil (PSO) by Rs131.581 billion with Sui Northern Gas Pipelines Limited (SNGPL) also failing to clear the LNG payments of Rs107.093 billion.
Pakistan International Airlines (PIA) is not behind in the race as it has so far defaulted on payment of Rs20.802 billion, unfolds the financial daily position of the Pakistan State Oil as of January 19, 2021 available with The News. Moreover, HUBCO and KAPCO owe PSO Rs65 billion.
The data about the daily financial position of the state-owned entity also shows that receivables of PSO have jacked up to Rs333.730 billion, putting the entity in hot waters making it unable to smoothly run its operations.