Punjab Chief Minister Maryam Nawaz on Tuesday visited javelin star Arshad Nadeem in his hometown of Mian Channu and awarded him a cheque worth Rs100 million for his Olympic gold medal. Arshad made history in Paris last week, not only winning Pakistan’s first Olympic gold in 40 years but also setting a record in the Games with his monstrous 92.97-metre throw. Arshad’s Olympic win was Pakistan’s first individual gold medal, first track and field medal as well as the second time a South Asian has had a podium finish in track and field. The nation has since then been joyous — with the athlete arriving to…
Author: Hasnain Abid Khanzada
ISLAMABAD: The state-owned Oil and Gas Development Company Limited (OGDCL) on Monday announced the successful commencement of early commercial production of tight gas from Pakistan’s first-ever Tight Gas project, Nur West Well-1 in Sujawal district of Sindh. The Nur West Well-1, a part of the Nur Development & Production Lease, is currently producing 1.5 million standard cubic feet per day (mmscfd) of gas with a wellhead flowing pressure of 1050 PSI, the company said. The gas is sourced from the Lower Guru formation (‘A’ Sand) and has been seamlessly integrated into the Sui Southern Gas Company Ltd (SSGCL) network. This…
KARACHI: Chief Minister Syed Murad Ali Shah reaffirmed the Sindh government’s commitment to supporting the automotive industry through favourable policies and promoting small and medium vendor industries to increase localisation and reduce import dependency. During his visit to Indus Motor Company’s (IMC) manufacturing facility at Port Qasim Authority, he said the provincial government was making all-out efforts to foster the large-scale production of hybrid electric vehicles (HEVs). “These efforts will generate more direct and indirect employment opportunities within the province,” he hoped. The chief minister toured the IMC’s state-of-the-art facility and received a comprehensive briefing on the latest production processes,…
KARACHI: The second International Food and Agriculture Exhibition concluded at the Karachi Expo Centre with more than $1.2 billion worth of deals. The three-day FoodAg event was participated by more than 800 buyers from 75 countries while 330 exporters exhibited around 500 quality products at the event. International chain stores, buyers and multinational companies visited the exhibition. The largest participation was from China comprising 150-plus buyers. As result of 7,000 business-to-business meetings, deals worth $1.2bn were finalised, besides signing of more than 36 memorandums of understanding (MoUs) mainly in rice, processed food, seafood, kinnow, potato, lentils, chickpeas, mangoes, confectionery, meat,…
KARACHI: Sales of cars, sports utility vehicles (SUVs), pickups and vans stood at 8,589 units in July, reflecting a 60pc year-on-year increase and a 36pc month-on-month decline. The decline in car sales in July can be primarily attributed to the increase in withholding tax rates introduced in the FY25 budget. This increased withholding tax rates triggered pre-buying in the last month of FY24, taking sales to an 18-month high in June. According to data released by the Pakistan Automotive Manufacturers Association (PAMA), Toyota Corolla, Yaris, and Corolla Cross sales soared to 1,106 units in July 2024 from 1,067 units in…
ng Schemes showed a negative picture which means net withdrawal. The net withdrawal from NSS was Rs317.3 billion in FY21, Rs358.7bn in FY22, Rs381.8bn in FY23 and Rs111.7bn in FY24. The NSS caters up to four million customers, mostly retired persons keep their money to earn risk free profits. The interest rate trend shows that the State Bank would further reduce the rate in coming months and could bring it to 14-16pc provided the consumer price index remains within the estimated target. This fall in the interest rate would further reduce the profits on NSS.
WASHINGTON: Concerns over a wider conflict in the Middle East have prompted international airlines to suspend flights to the region or to avoid the affected airspace, as US officials said they were prepared for what could be significant attacks by Iran or its allies, as soon as this week. The Pentagon has already dispatched a guided missile submarine to the region, while an aircraft carrier strike group — led by the USS Abraham Lincoln and equipped with F-35 fighters — is making its way there now. The developments came after Israeli Defence Minister Yoav Gallant told US Defence Secretary Lloyd…
DHAKA: Bangladeshi police resumed patrols of the capital Dhaka on Monday, ending a weeklong strike that left a law and order vacuum following the abrupt ouster of autocratic ex-premier Sheikh Hasina. Officers vanished from the streets of the sprawling megacity of 20 million people last week after Hasina’s resignation and flight abroad ended her 15-year rule. Police were loathed for spearheading a lethal crackdown on the weeks of protests that forced her departure, with 42 officers among the more than 450 people killed. They had vowed not to resume work until their safety on duty was guaranteed but agreed to return after…
LONDON: Over 700 migrants in small boats crossed the Channel to Britain on Sunday, the highest number on a single day since Prime Minister Keir Starmer took power vowing to tackle people-smugglers. Two migrants who attempted the crossing died, French authorities said earlier, taking the number of people to lose their life on the dangerous sea journey to 25 since the start of the year. Some 703 people arrived on Sunday on 11 boats, according to provisional interior ministry figures released on Monday. Stopping the small boat arrivals was a key issue in Britain’s general election in July. Within days of taking…
PENTELIL: A massive wildfire blazed into Athens’ northeastern suburbs on Monday as hundreds of firefighters battled to contain it, forcing thousands of residents to flee their homes and sparking a Greek government appeal for international help. In scenes never before seen in the Greek capital, residents wearing masks against the choking smoke were desperately dousing their homes with water hoses in the leafy suburbs of Nea Penteli and Vrilissia in an effort to render them less vulnerable to fire. “(It’s) the first time ever the fire has come here,” said Melina Kritseli, 40, a civil servant living in a two-storey…
