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SECP approves PIA’s scheme of arrangement

By
Ali Ali
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0
ISLAMABAD, May 06 (APP):The Securities and Exchange Commission of Pakistan has approved the Scheme of Arrangement between Pakistan International Airlines Corporation Limited (PIA) and PIA Holding Company Limited (HoldCo).
Earlier this year, the Federal Cabinet approved the legal segregation plan of PIA and the Scheme and, inter alia, directed the Aviation Division, PIA, and HoldCo to undertake the required corporate and regulatory actions to implement the Scheme.
Last month, the scheme was also approved by the shareholders and creditors of PIA, said a press release issued by the Commission.
The restructuring entails the legal separation of PIA’s core aviation business from its non-core activities and the transfer of its non-aviation-related business from PIA into Holdco.
The approval of the scheme paves the way for Holdco to own 100% shareholding in PIA and simultaneous issuance and allotment of shares by Holdco to the qualifying shareholders of PIA.

Farmers busy in cutting wheat crop in their field.

By
Wajid
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0
Farmers busy in cutting wheat crop in their field.
APP23-060524
FAISALABAD: May 06 – Farmers busy in cutting wheat crop in their field.

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FAISALABAD: May 06

Pakistan, Japan discuss bilateral cooperation in industry, food security

By
Ali Ali
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0
ISLAMABAD, May 6 (APP):Japanese Ambassador to Pakistan, Wada Mitsuhiro, here on Monday met with Federal Minister for Industry and Food Security, Rana Tanveer Hussain.
According to a press statement, both sides discussed matters of mutual interest, including bilateral cooperation and the challenges faced by Japanese automakers in Pakistan.
Rana Tanveer Hussain expressed Pakistan’s desire to strengthen its friendship with Japan, which he said was a close friend of Pakistan. He highlighted the significant role Japan can play in Pakistan’s auto industry and expressed the hope that more Japanese companies will invest in Pakistan.
The minister assured that the current government is committed to providing facilities to investors for the development of industry and agriculture, which is their top priority. He also emphasised the importance of food security and the need for cooperation between the two countries in this sector.
The meeting aimed to explore opportunities for bilateral cooperation and strengthen economic ties between Pakistan and Japan.

Federal Minister for Economic Affairs Ahad Khan Cheema meets with President of Asian Development Bank (ADB) on the sidelines of the 57th Annual Meeting of the Board of Governors in Tbilisi.

By
Wajid
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0
Federal Minister for Economic Affairs Ahad Khan Cheema meets with President of Asian Development Bank (ADB) on the sidelines of the 57th Annual Meeting of the Board of Governors in Tbilisi.
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GEORGIA: May 06 – 

Players in action during cricket match played between Karachi Women and Lahore Women cricket teams during National Women’s One Day Cricket Tournament 2024 at Iqbal Stadium.

By
Wajid
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0
Players in action during cricket match played between Karachi Women and Lahore Women cricket teams during National Women's One Day Cricket Tournament 2024 at Iqbal Stadium.
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FAISALABAD: May 06 – Players in action during cricket match played between Karachi Women and Lahore Women cricket teams during National Women's One Day Cricket Tournament 2024 at Iqbal Stadium.

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FAISALABAD: May 06 –

Labourers busy in preparing bangles at local bangles factory.

By
Wajid
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0
Labourers busy in preparing bangles at local bangles factory.
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HYDERABAD: May 06 – 

A family enjoying boat ride at Indus River.

By
Wajid
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0
A family enjoying boat ride at Indus River.
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HYDERABAD: May 06 – 

Gold rates up by Rs 2,500 per tola to Rs  240,500

By
Ali Ali
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0
ISLAMABAD, May 6 (APP):The per tola price of 24 karat gold increased by Rs 2,500 and was sold at Rs. 240,500 on Monday compared to its sale at Rs.238,000 on last trading day.
The price of 10 grams of 24 karat gold also increased by Rs 1,257 to Rs  206,190 from Rs 204,047 whereas the prices of 10 gram 22 karat gold went up to Rs 189,007 from Rs 187,043, the All Sindh Sarafa Jewellers Association reported.
The price of per tola and ten gram silver remained constant at Rs  2,620 and Rs  2,254.80 respectively.
The price of gold in the international market increased by $21 to $2,322 from $2,301, the Association said.

Vendors arranging and displaying seasonal fruit peach to attract the customers at roadside.

By
Wajid
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0
Vendors arranging and displaying seasonal fruit peach to attract the customers at roadside.
APP13-060524
MULTAN: May 06 – Vendors arranging and displaying seasonal fruit peach to attract the customers at roadside.

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MULTAN: May 06 – A vendor displaying seasonal fruit “falsa” to attract customers. APP/SFD/MAF/TZD

No overbilling in LESCO during April: Mohsin Naqvi

By
Ali Ali
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0
LAHORE, May 06 (APP):Federal Interior Minister Mohsin Naqvi said on Monday that no overbilling was found in Lahore Electric Supply Company (LESCO) during the month
of April, whereas the same practice was stopped to a great extent in other
distribution companies as well.
Addressing a press conference, he appreciated the efforts of Federal Investigation
Agency, Lahore team in controlling overbilling in the LESCO.
He said, “Ministry of Power has also supported us in our campaign against overbilling.”
Mohsin Naqvi said that 310 million units had been returned to consumers, adding
that it was a big relief for people and hoped no overbilling would be practiced in future.
As many as I02 FIRs had been registered against overbilling, he said and added
that Superintending Engineer of Sheikhupura had been arrested today as he was
involved in overbilling issue at a massive scale and prior to this two XENs had also
been arrested.
The Interior Minister said that all these initiatives were required to stop overbilling
as public could not be overburdened.
Regarding his and Khawaja Asif visit to Lahore and Sialkot airports, he said that
eight counters would be added at Lahore airport to manage departure related rush.
He said that counters would also be added at Sialkot airport to tackle departure
rush in a better way. The work on fast track option was also underway, he maintained.
Responding to a question about wheat procurement issue, Mohsin Naqvi said that in
his personal opinion he does not think that there was any ill intention of caretaker
federal government in this regard. A new cyber body was being established while
cyber wing would keep working as well.
Mohsin Naqvi said as far as terrorism was concerned, he appreciated the KPK police
efforts to eliminate terrorism.
He said that country’s law enforcement agencies were working effectively to root out terrorism.
He further said that proper plan was being evolved and soon the best results would be
obtained with regard to controlling narcotics and provinces would also be taken on board
in this regard.
Mohsin Naqvi said that there was a need to make collective efforts to eradicate the
menace of narcotics.
He said that timing of passport offices in any area would be increased on basis of requirement.
Regarding weapon license, Naqvi said license would be issued only to those who would
qualify for it while license of prohibited bore would not be issued at all.
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