USA statement on the visit to Pakistan by Ambassador Khalilzad

U.S. Special Representative for Afghanistan Reconciliation Ambassador Zalmay Khalilzad visited Islamabad on July 19. In meetings with Prime Minister Imran Khan and Chief of Army Staff General Qamar Javed Bajwa, Ambassador Khalilzad emphasized the urgency of a comprehensive political settlement between the Islamic Republic of Afghanistan and the Taliban, one that leads to a sustainable peace and preserves Afghanistan’s security, sovereignty, and territorial integrity.… Continue

Jubilee Life Insurance wins awards at Pakistan Digital Awards 2021

Jubilee Life Insurance, the leading life insurance company in the private sector, has been awarded with two major awards for the 3rd year in a row at the Pakistan Digital Awards Ceremony 2021. For the exceptional outreach, the campaign for HBL PSL Season 5 by Jubilee Life Insurance bagged the main award in the category of ‘Best Digital Campaign of the Year (Small Budget)’ and their campaign of Befiker Loungebagged the second Award in the category of ‘Best Social Media Campaign (Facebook)’.… Continue

PSX index sees an increase of 39pts today

· Market traded in a narrow range today, oscillating between -83pts and +172pts, closing the index +58pts (unadjusted). Being a short trading week, investors were reluctant to go long and preferred to close the intra-day positions regardless of the pertinent stock prices.… Continue

Shan Foods celebrates Eid with Akhuwat

Reputed food company, Shan Foods, has partnered with Akhuwat Foundation, a nonprofit organization, to share the festivities and blessings of Eid-ul-Adha with the underprivileged community.

The collaboration is one of the many initiatives being executed under Shan Foods’ CSR umbrella. In observance of the true spirit of Eid as part of this initiative, Shan Foods distributed especially curated goody bags among the beneficiary families of Akhuwat Foundation living below the national poverty line.… Continue

Research house upgrades SNGPL fair value of share

The Jun’22 target price for Sui Northern Gas Pipelines Limited (SNGP) is set at PKR 91.10/share. The scrip offers a noteworthy upside of 86% from current levels, recommendation to BUY was issued, according to a report of leading research house.

Analysts investment thesis is premised on i) RLNG UFG benchmark being upheld by the Court today and no longer a threat to earnings, which, alongside the high base of average assets and continued investment in distribution network going forward (CAPEX forecast at an average of PKR 13bn over our investment horizon), should translate into an upbeat bottom-line, and ii) single-digit UFG with the first phase of OGRA’s ambitious UFG reduction plan already been implemented.… Continue

Power generation in Pakistan during June 2021

Power generation is up by 8.1% YoY to 14,361 GWh (19,946 MW) during Jun’21, compared to 13,288 GWh (18,455 MW) during Jun’20. The rise in generation is witnessed due to higher generation on Nuclear, FO and Coal.

Major contributors during Jun’21 were Hydel (Share: 29%), RLNG (Share: 19%), Coal (Share: 18%), Nuclear (Share: 11%), Gas (Share: 9%), FO (Share: 8%), Wind (Share: 4%), and Solar (Share: 0.4%).… Continue

Arts Council of Pakistan Karachi remembers author and theorist Shams-ur-Rehman Farooqi

An online session was organized at the Arts Council of Pakistan Karachi’s Joshmlihabadi Library in memory of Indian Urdu critic, theorist, and poet Shams-ur-Rehman Farooqi. Moderated by Ambreen Haseeb Amber chairperson of the literary committee of the Arts Council.

Expressing his views online from Islamabad on the occasion scholar and poet Iftikhar Arif said,

Shams-ur-Rehman was such a great critic of our time that we do not even know it.… Continue

Pakistani Ambassador to Sri Lanka visit KATI

Pakistan’s Ambassador to Sri Lanka Major General (Retd) Muhammad Saad Khattak during a visit to the Korangi Association of Trade and Industry (KATI) said that Pakistani investors in Sri Lanka can invest in the construction, textile, pharmaceutical and tourism sectors. Sri Lanka is a poor country but there is ample opportunities for Pakistani investors, they need to understand the nature of the Sri Lankan market.… Continue

Prime Minister appreciates unprecedented growth in housing and construction finance

Governor SBP, Dr. Reza Baqir presented information on unprecedented growth in housing and construction finance to the Prime Minister yesterday in a meeting of the National Coordination Committee on Housing, Construction and Development (NCCHCD) chaired by the Prime Minister. The meeting was attended by the Federal Ministers for Finance, Information, Aviation, and Climate Change, Chairman NAPHDA, State Minister for Information & Broadcasting, SAPM on Political Communication, Presidents/CEOs of banks and senior SBP officials.… Continue

Pakistan receives shipment of COVID-19 Vaccine ‘AstraZeneca’ in fight against pandemic

Pakistan today received 1,236,000 doses of COVID-19 Vaccine AstraZeneca through COVAX. COVAX, co-led by the Coalition for Epidemic Preparedness Innovations (CEPI), Gavi (the Vaccines Alliance), and the World Health Organization, is a global initiative that works with governments and manufacturers to ensure COVID-19 vaccines are available worldwide to both higher-income and lower-income countries.… Continue

Sanaullah Abbasi assures ‘online facility’ for hearing against cases/ notices issued by FIA circles

Director General Federal Investigation Agency (FIA) Dr. Sanaullah Abbasi, while responding to KCCI’s suggestion, assured to look into the possibility of providing online facility for hearing to the members of business community in order to save them from travelling all the way to FIA circles in far-flung areas where they were being summoned by officials to clarify their position.… Continue

PSX Index closed at 47,834pts today

• Market remained positive in both sessions today, adding a total of 261pts during the session and closed +211pts (unadjusted). LUCK announced collaboration with Samsung, which helped the stock trade at an uptick. Technology sector also contributed positively to the index, with SYS and AVN hitting upper circuits and closing at high note.… Continue

Ericsson presents its latest technology and thought leadership to Jazz Pakistan

Ericsson (NASDAQ: ERIC) organized a dedicated Ericsson Digital Unboxed 2021 Event virtually for Jazz Pakistan. Crafted for Jazz Pakistan, Ericsson’s global and regional experts and thought leaders showcased the latest insights, use cases and technologies tailored to Jazz Pakistan.

During the virtual event, Ericsson shared its technology vision and updates and also discussed the possibilities for consumer and enterprise segments.… Continue

Thar Foundation partners with HDF to improve quality of life in Thar

Thar Foundation – a non-profit organization, and a subsidiary of Sindh Engro Coal Mining Company (SECMC) signed a Memorandum of Understanding (MoU) with Human Development Foundation (HDF), a renowned social-development organization. Together Thar Foundation and HDF will launch a series of resourceful initiatives to ensure better quality of life in the impoverished Thar region, while also improving access to school-education for children, especially girls.… Continue

Cargoes activity at KPT

Cargo handling activities of Karachi port during last 24 hrs ending 0700    

Ships Berthed    

07 Ships berthed at Karachi Port, their details are given below.

  1. COSCO THAILAND            CONT SHIP
  2. CAPUSINE                CAR CARRIER
  3. MOL GENEROSITY            CONTAINER SHIP
  4. CHEMROUTE SKY            TANKER
  5. M. T.
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