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Governor briefed about flood situation, precuationary measures

By
Asim Usman
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0
BAHAWALPUR, Aug 18 (APP):Commissioner Bahawalpur Division Dr. Ehtesham Anwar on Monday briefed Governor Punjab Muhammad Baligh-ur- Rehman about flood situation in the region and precautionary measures in that regard in a meeting.
The meeting was held in the circuit house here.
The governor directed that to complete arrangements for the flood on time.
He said that precautionary measures should be implemented properly under the guidelines issued by the Punjab Disaster Management Authority.
The governor directed to take measures to shift people and livestock to safe places in possible floods on priority.
The commissioner informed about the steps taken by the concerned departments to deal with the floods.
He also briefed the governor ongoing development projects in the division.

Mangla Dam packed

By
Asim Usman
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0
MIRPUR  (AJK), Aug 18 (APP):Mangla Dam on Friday reaches at its peak after it was fully filled to the stipulated maximum level of 1242 feet.
According to media wing of WAPDA, at present 7.356 million acre feet (MAF) water is available in Mangla reservoir.
The other two major reservoirs Tarbela & Chashma have also filled to their maximum level. Resulting in the maximum availability of water in the dams, which is being regarded a good omen for agriculture and hydel power generation in Pakistan in the days to come, WAPDA officials said.
As per details, the water storage at Tarbela Dam is 5.809 MAF and Chashma is 0.278 MAF. The cumulative quantum of water available at present in Mangla, Tarbela and Chashma reservoirs stands at 13.443 MAF.
According to the statistics, water level in Tarbela is 1550 feet and Chashma 649 feet above mean sea level.
The water inflow from Rivers Indus at Tarbela is 221000 cusecs and Outflows 199600 cusecs, inflow from River Jhelum at Mangla is 26000 cusecs and Outflows 10000 cusecs, and water inflow at Chashma is 310400 cusecs and Outflows 243100 cusecs.
The water level in the reservoir was recorded as 1242.00 feet against maximum conservation level of 1242.00 feet with live storage of 7.356 MAF on Friday, the sources said
Jhelum River to the reservoir at Mangla was reported 28700 cusecs with the outflows of 18400 cusecs from the reservoir Friday,   the sources said.
The overall position of the river inflows and outflows at Tarbela, Mangla and Chashma along with the reservoirs levels and the barrages remained on Friday as under:
Rivers: Indus at Tarbela: Inflows 212100 cusecs and Outflows 223200 cusecs, Kabul at Nowshera: Inflows 35500 cusecs and Outflows 35500 cusecs, Khairabad Bridge: Inflows 237000 cusecs and Outflow 237000, Jhelum at Mangla: Inflows 28700 cusecs and Outflows 18400 cusecs, Chenab at Marala: Inflows 64000 cusecs and Outflows 43600 cusecs.
Barrages: Jinnah: Inflows 232300 cusecs and Outflows 224300 cusecs, Chashma: Inflows: 281100 cusecs and Outflows 259900 cusecs, Taunsa: Inflows 239900 cusecs and Outflows 220900 cusecs, Guddu: Inflows 254800 cusecs and Outflows 225900 cusecs Sukkur: Inflows 186100 cusecs and Outflows 133500 cusecs Kotri: Inflows 168000 cusecs and Outflows 127800 cusecs Trimmu: Inflows 73500 cusecs and Outflow 59900 cusecs Panjnad: Inflows 70500 cusecs and Outflows 54700 cusecs.
The current situation of Reservoirs (Level and Storage) were Tarbela: Minimum operating level 1402 feet, present level 1549.60 feet, maximum conservation level 1550 feet, live storage today 5.786 MAF.
Mangla: Minimum operating level 1050 feet, present level 1242.00 feet, maximum conservation level 1242 feet, live storage today 7.356 MAF.
Chashma: Minimum operating level 638.15 feet, present level 649.00 feet, maximum conservation level 649 feet, live storage today 0.278 MAF.
The inflows and outflows of River Indus at Tarbela, Jinnah and Chashma, River Kabul at Nowshera and River Jhelum at Mangla have been reflected as mean flows of 24 hours, whereas the other flows have been gauged at 6.00 a.m on Friday.

SECP seeks public consultation on proposed amendments to Listed Companies Regulations

By
Asim Usman
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0
ISLAMABAD, Aug 18 (APP):The Securities and Exchange Commission of Pakistan (SECP), has notified draft amendments to the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 soliciting public comments.
The proposed amendments are focused on creating a conducive environment for takeover transactions through the acquisition of shares of listed companies in a fair, transparent and competitive manner, said a press release issued here.
As part of SECP’s progressive review of regulatory requirements, the subject amendments also address key observations emanating from feedback provided by various stakeholders in relation to prevalent takeover regulatory regime.
The subject amendments provide greater flexibility to the minority shareholders of the target company in exercising their rights, whereby an option is being inserted for consideration to such shareholders to be paid either wholly in cash; or if consideration is being offered in the form of securities, the same to be accompanied with a wholly cash alternative.
Criteria for securities that can be offered as consideration is being improved, whereby only shares of listed companies, listed debt instruments, and government securities with remaining maturity of maximum of 364 days can be offered as a consideration during the public offer. The mechanism for valuing the securities to be offered as consideration is also being improved.
Moreover, only highly liquid securities would be admissible as security to be furnished to the manager to the offer by the acquirer for the performance of obligations under the public offer.
Efforts have also been made to ensure that terms already used in the regulations but not previously defined are properly codified in the definitions section for clarity and to enable consistent interpretation throughout the regulations.
A consultation paper explaining the key considerations in drafting the proposed amendments inclusive of notification of draft amendments to subject regulations has been placed on the SECP website at https://www.secp.gov.pk/document/consultation-paper-draft-amendments-to-the-listed-companies-substantial-acquisition-of-voting-shares-takeovers-regulations-2017/?wpdmdl=48882&refresh=64df383c84db91692350524.
Comments can be submitted to the SECP within a period of fourteen days from the date of the notification by emailing at takeoverfeedback@secp.gov.pk.

Jamal Shah visits Lok Virsa

By
Asim Usman
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0
ISLAMABAD, Aug 18 (APP):Caretaker Federal Minister for National Heritage and Culture Jamal Shah on Friday visited Lok Virsa -National Institute of Folk and Traditional Heritage soon after assuming charge.
He was warmly welcomed by the senior officials.
Later, the minister also chaired a meeting which was attended by Secretary National Heritage and Culture Fareena Mazhar and other senior officials of the Division and Lok VIrsa.
Detailed briefing was given to the Minister regarding Lok Virsa and its cultural activities.
Federal Minister Jamal Shah said that our land is blessed with the diversity of cultural and folk heritage, adding that inclusive cultural narrative would help reshape our society as a peaceful place for all segments.
He said that the cultural narrative should be based on our rich cultural heritage, he added.
He said that Pakistan’s culture, art and society are heavily influenced by its diverse historical background, starting from the ancient Mohenj-o-daro to the more recent Mughal era and added along with the linear cultural richness garnered over time, we have a bouquet of diverse and vibrant cultural heritage.
The Federal Minister expressed his determination to work for the conservation, preservation and propagation of folk cultural heritage of the country.
Later, he also took a round of different sections at Lok Virsa including Heritage Museum and other cultural sites.

Care Taker Minister for Planning Development and Special initiatives Muhammad Sami Saeed has assumed his charge

By
Zia Ur Rehman
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0
Care Taker Minister for Planning Development and Special initiatives Muhammad Sami Saeed has assumed his charge
APP57-180823
ISLAMABAD: August 18

Dr. Umar Saif assumes charge as Caretaker Federal Minister for IT and Telecommunication

By
Zia Ur Rehman
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0
Dr. Umar Saif assumes charge as Caretaker Federal Minister for IT and Telecommunication
APP58-180823
ISLAMABAD: August 18

Officials of Petroleum division giving an overview of sector to Caretaker Minister for Energy Muhammad Ali on his first day in Office

By
Zia Ur Rehman
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0
Officials of Petroleum division giving an overview of sector to Caretaker Minister for Energy Muhammad Ali on his first day in Office
APP59-180823
ISLAMABAD: August 18 –

Sargodha University regularises 518 contractual employees

By
Asim Usman
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0
SARGODHA, Aug 18 (APP):The University of Sargodha has issued a notification of regularising a total of 518 staff and faculty members under the Punjab Regularisation of Service Act 2018, after its approval from the chancellor, the Higher Education Department of the Punjab and the University syndicate.
A ceremony was held at Malik Firoz Khan Noon Auditorium on Friday, which was attended by Vice Chancellor Prof. Dr. Qaisar Abbas, registrar, deans, directors, in-charges, and a number of faculty and staff members.
Among the regularised members, 208 contractual employees were in grade 1-4, 127 in grade 5-16, and 74 belonged to Grade 17-19. In addition to the contractual employees, 64 temporary individuals in grade 1-4 and 45 in grade 5-16 were also transitioned from temporary to regular positions, marking a significant milestone in their professional journey.

PSX loses 107 points

By
Asim Usman
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0
ISLAMABAD, Aug 18 (APP):The 100-index of the Pakistan Stock Exchange (PSX) on Friday shed 107.34 points, a negative change of 0.22 per cent, closing at 48,218.50 points against 48,325.84 points the previous trading day.
A total of 254,814,045 shares were traded during the day as compared to 48,146.44 shares the previous day, whereas the price of shares stood at Rs 10.414 billion against Rs 10.021 billion on the last trading day.
As many as 333 companies transacted their shares in the stock market; 126 of them recorded gains and 186 sustained losses, whereas the share price of 21 companies remained unchanged.
The three top-trading companies were WorldCall Telecom with 40,458,173 shares at Rs 1.25 per share; Pak Petroleum d with 27,990,154 shares at Rs.76.15 per share and Oil and Gas Dev with 19,811,273 shares at Rs.99.29 per share.
Rafhan Maize witnessed a maximum increase of Rs 140.70 per share price, closing at Rs 8,587.50, whereas the runner-up was Nestle Pakistan with an Rs 100.00 rise in its per share price to Rs 7,400.00.
Sapphire Fiber witnessed a maximum decrease of Rs 86.89 per share closing at Rs 1,071.61; followed by Bhanero Tex with Rs 35.00 decline to close at Rs 950.00.

Minister discusses health insurance issues with SLIC chief

By
Asim Usman
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0
LAHORE, Aug 18 (APP):Punjab’s Health Minister Dr. Javed Akram has expressed the government’s commitment to extend all benefits of universal health insurance to the beneficiaries.
He discussed the health insurance issues with State Life Insurance Company (SLIC) Chairman Shoaib Javed Hussain in a meeting at the ‘Apka Clinic’, here on Friday. They focused on refining health card services.
Dr. Javed Akram emphasised ongoing improvements to the Universal Health Insurance Programme, including vigilant oversight of private hospitals. He stressed the global principle of supporting the poor sick by the rich.
The minister highlighted efforts to enhance transparency and audit the Universal Health Insurance Programme. SLIC Chairman Shoaib Javed affirmed company’s full cooperation with the Punjab government and quick resolution of complaints related to the programme.
Punjab Health Initiative Management Company Chief Executive Officer Dr. Ali Razzaq provided insights into the medical facilities available to the public.
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