Pakistan News

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  • Dutch company to acquire Engro Foods Ltd

    KARACHI: A Dutch dairy cooperative is set to buy out food giant Engro Foods Limited with an investment of around $460million, in what would amount to the largest private sector takeover by a foreign firm in the country's history...

    5pc for the 2015-16 financial year due to lower oil prices, planned improvements in the energy supply, investment related to the China Pakistan Economic Corridor (CPEC), buoyant construction activity, and...

  • 10 banks sign pact to create Pakistan Corporate Restructuring Company Ltd

    KARACHI: The country’s 10 banks signed an agreement on Friday to establish Pakistan Corporate Restructuring Company Ltd (PCRCL)...

    Under the provisions of Corporate Restructuring Companies Act 2016 with an initial paid-up capital of Rs500 million, the banks have decided to establish the Corporate Restructuring Company (CRC) — first of its kind company in the country...

  • Abaseen Yousafzai praised for his lively and purposeful poetry

    PESHAWAR: Participants of a function on Friday showered romantic Pashto poet and senior writer Abaseen Yousafzai with praise for his services to the Pashto literature over the last three decades...

    Fitrat Buneri, chief organiser of the event, while greeting the guests said that key quality of Abaseen was punctuality and young students had not only drawn inspiration from his poetry, but also from his personality traits...

  • Plea against 20pc reduction in pvt schools’ fee disposed of for being infructuous

    KARACHI: Provincial authorities on Wednesday informed the Sindh High Court that a new notification had been issued to provide 20 per cent concession to parents in school fees for the months of April and May after amending the rules...

    The petitioner said that vegetables were being grown through sewage and industrial waste in Korangi, Malir, Landhi, Surjani Town and other areas located on the outskirts of the city and these vegetables...

  • AGP Ltd raises Rs2.8 billion

    KARACHI: AGP Ltd, a pharmaceutical company in the fold of OBS Group, has raised Rs2...

    At the gong-ringing ceremony at the PSX on Monday that signalled the start of trading of company’s stock, AGP Ltd share price quickly hit the upper circuit of 5 per cent to take the stock price to Rs84, from the offered price of Rs80 a share...

  • City administration ignores illegal construction on nullahs

    Along with construction on nullahs, Zone IV and V are also littered with unplanned buildings, especially commercial buildings, which are usually established without leaving out open spaces and parking areas...

    In November last year, the CDA’s board was to draft by laws for regulating the construction of commercial buildings along major roads, including in these two zones...

  • Driver of ride-hailing company shot dead in Karachi

    Police are investigating the alleged murder of a driver working for a ride-hailing company who was found dead in his car in Karachi's Korangi area earlier this week, police said on Friday...

    "The victim was associated with a ride-hailing company but at time of the incident, his vehicle was "offline", Abbasi said...

  • Deal inked with Chinese company to lift garbage from two Karachi districts

    KARACHI: Two more district municipal corporations (DMCs) of Karachi on Friday inked an agreement with a Chinese sanitation service group to lift piles of garbage in their limits as the Sindh local government minister hoped that the work would begin from next month...

    The DMCs of Malir and Karachi West through their chairman and administrator, respectively, signed the agreement with the Hang Zhou Jin Jiang Group Sanitation Service...

  • Case registered against Karachi company for chopping 70 trees

    KARACHI: A First-Information Report (FIR) was filed by the Sindh government after 70 trees lining a greenbelt along Shaheed-i-Millat road were cut down on April 3 allegedly by a construction company, Superintendent Police Jamshed Masood Bangash confirmed on Sunday...

    The incident comes as Karachi braces for another searing summer a year after a scorching heatwave claimed the lives of over 1,300 people in Sindh, with most of the deaths...

  • Chinese company to lift garbage in Karachi

    The Sindh government and a Chinese firm have inked an agreement for garbage collection in Karachi, where the solid waste problem has assumed crisis proportions...

    The agreement in this respect was signed between the Sindh Solid Waste Management Board and Chinese company Wuzung, Radio Pakistan reported...

  • PTI lawmakers urge Centre to bring in another company to resolve Karachi's power woes

    PTI lawmakers on Sunday urged the federal government to end K-Electric's (KE) "monopoly" by bringing in another company to distribute electricity in an effort to solve the power issues being faced by citizens living in the metropolis...

    Addressing a press conference in Karachi, Leader of the Opposition in the Sindh Assembly Firdous Shamim Naqvi said that the city has been facing electricity issues for a long time...

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