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Daily Archives: September 1, 2021

Overseas Pakistanis allowed direct investment in companies through Roshan Digital Account


September 1, 2021

KARACHI: The State Bank of Pakistan on Tuesday allowed overseas Pakistanis to directly invest into the shares of companies in Pakistan and units of funds through the rupee-based Roshan Digital Accounts (RDA). Overseas Pakistanis have been allowed investment in Pakistani companies as well as funds operated by a private fund management company licensed by the Securities Exchange Commission of Pakistan. …

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Oil production sees 10pc drop over a week


September 1, 2021

KARACHI: The country’s average per day oil and gas production dropped 10 per cent and 2pc, respectively, in the week ending Aug 18-24 to 69,878 barrels and 3,337 million cubic feet from 77,730bopd and 3,406mmcfd over the preceding week Aug 11-17. An analyst at Arif Habib Ltd (AHL) attributed the decline in oil production to annual turnaround (ATA) of Nashpa …

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Revenue collection in August goes up by 45pc


September 1, 2021

ISLAMABAD: The newly appointed chairman of the Federal Board of Revenue (FBR), Dr Ashfaq Ahmad, on Tuesday unveiled a roadmap for restructuring tax machinery and declared robust growth of 45 per cent in revenue collection in the second month of the current fiscal. The revenue collection in August rose to Rs434 billion, an increase of 45pc from last year’s figure …

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PSO books costliest LNG cargo for September


September 1, 2021

ISLAMABAD: Making a new record, state-run Pakistan State Oil (PSO) on Tuesday awarded a liquefied natural gas (LNG) cargo to commodity trader Vitol at 24.5456pc of Brent (about $17.86 per mmBtu) – the most expensive so far – for delivery on Sept 26-27. “PSO has decided to award the below mentioned cargo for supply of LNG,” PSO announced on its …

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New curbs for unvaccinated people from today


September 1, 2021

ISLAMABAD: The government will be putting in place a number of restrictions on unvaccinated people from Wednesday (today) as the country reported over 100 Covid-19 deaths for the fourth time in about three weeks. In another development, the National Command and Operation Centre (NCOC) will begin vaccinating people over 17 years of age and administering booster shots to those intending …

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Ministries in dispute over sharing of report on forced conversion


September 1, 2021

ISLAMABAD: The human rights ministry on Tuesday said sharing the report on forced conversion prepared by the Parliamentary Committee to Protect Minorities from Forced Conversions with the religious affairs ministry was not its responsibility. Talking to the human rights ministry spokesperson said the religious affairs ministry should get the copy of the report from the secretariat of the parliamentary committee. The …

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ECC okays Rs50bn cover for ADB’s $300m to be used for vaccine purchase


September 1, 2021

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved Rs50.1bn local currency cover for $300 million financing from the Asian Development Bank (ADB) for procurement of Covid-19 vaccine, Rs215m grant for local government elections of cantonment boards and $10m temporary funds for Roosevelt Hotel to meet emergency expenses. The ECC meeting presided over by Finance Minister Shaukat …

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Pakistan sets daily Covid vaccination record of administering over 1.5m doses


September 1, 2021

Pakistan administered a record 1.5 million doses of Covid-19 vaccines on Tuesday, said Asad Umar, head of the National Command and Operation Centre (NCOC) — the nerve centre of the country’s coronavirus response — on Wednesday, as authorities continued to ramp up efforts to deal with a fourth wave of the contagion. The NCOC shared in a tweet that a …

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Don’t blame Pakistan for Kabul’s fall, US told


September 1, 2021

WASHINGTON: It was not Pakistan’s military strategy but Afghanistan’s internal problems that caused the collapse of the former Afghan government, argues Islamabad’s US ambassador Asad Majeed Khan. Last week, Republican Congressman Michael G. Waltz sent a letter to US President Joe Biden, urging him to sanction Pakistan for its alleged support to Taliban militants who, according to Mr Waltz, captured …

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Hate crimes rose against Blacks, Asian Americans last year: FBI


September 1, 2021

WASHINGTON: Reported hate crimes in the US, in particular targeting African Ame­ricans and Asian Ame­ricans, surged in 2020, according to statistics released on Monday by the Federal Bureau of Investigation. In a year that saw huge Black Lives Matter protests which helped force a reckoning on racism, reports of hate crimes against Black Americans rose 40 per cent, from 1,972 …

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