Pakistan News

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  • 'Smart' denim promises touchscreen tech clothes

    A young man in a white t-shirt pulls on a dark blue denim trucker jacket, tucks his smartphone in an inside pocket and puts in-ear headphones in his right ear...

    It's an ad from iconic US jeans maker Levi Strauss for Project Jacquard, an initiative with Google that the companies started two years ago for so-called “smart” denim...

  • Dabbling in denim

    Denim is all-pervasive, all-purpose...

    Denim silhouettes may, in essence, be anglicised but the sheer wearability of the fabric has enabled it to transcend boundaries and become universal...

  • 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)...

    The shareholder agreement was signed by presidents and representatives from Habib Bank, National Bank of Pakistan, United Bank, MCB Bank, Allied Bank, Meezan Bank, Bank Alfalah, Bank Al-Habib, Habib Metropolitan Bank and Faysal Bank at the State Bank of Pakistan (SBP) headquarters...

  • Dutch company to acquire Engro Foods Ltd

    FrieslandCampina International Holding BV intends to acquire a 51 per cent stake of Engro Foods Limited, one of the largest listed companies at the Pakistan Stock Exchange (PSX), a notification on the bourse's website said Thursday...

    Citibank Pakistan is the financial advisor...

  • 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...

  • NA panel wants NAB to probe Pakistan Steel Mills shutdown

    ISLAMABAD: The Nat­ional Assembly’s Standing Committee on Industries and Production on Thursday recommended that the case related to the closure of Pakistan Steel Mills (PSM) because of unexplained suspension of gas supply to it and illegal withdrawal of salaries of retired employees be forwarded to the National Accountability Bureau (NAB) for investigation...

    The committee was also briefed by Zaigham Rizvi, the CEO of Twarqi Steel...

  • We will never sell Pakistan Steel Mills’ land: Murad

    KARACHI: The land of Pakistan Steel Mills (PSM) belongs to the people of Sindh and we would never sell it to settle the liabilities of the mill, Sindh Chief Minister Syed Murad Ali Shah said on Tuesday...

    He said the seriousness of the federal government to run the mills can be gauged from the fact that it has no CEO from the last one year...

  • PPP to resist sale of Pakistan Steel Mills land

    ISLAMABAD: Pakistan Peo­ples Party Senator Taj Haider on Friday said that he will resist the sale of Pakistan Steel Mills (PSM) land under the garb of clearing its liabilities...

    He blamed PM Abbasi for deliberately causing shutdown of steel mills...

  • Pakistan Steel Mills nears default, owes Rs35 billion to SSGC

    KARACHI: The Pakistan Steel Mills (PSM) has constantly been defaulting on its payments to the Sui Southern Gas Company (SSGC), said SSGC in a press statement released on Saturday...

    The spokesperson for SSGC commented that the Pakistan Steel Mills stood today at a staggering default of Rs35 billion, which has made it difficult for the gas utility to finance its programs of strategic nature, including pipeline augmentation projects...

  • Plan to lease out Pakistan Steel Mills for 45 years

    ISLAMABAD: As Pakistan Steel Mills (PSM) continues to pile up liabilities, the government is considering leasing the country’s largest industrial complex to a private concern for 45 years under a revenue sharing arrangement, and laying off almost 5,000 employees...

    Read: Pakistan Steel Mills financial woes continueA previous attempt to sell the PSM by then prime minister Shaukat Aziz to a Saudi-led consortium for Rs21...

  • Pakistan Steel Mills financial woes continue

    KARACHI: As the financial health of Pakistan Steel Mills (PSM) continues to deteriorate, the grievances of its serving and retired employees have increased manifold — with no respite in sight any time soon...

    The staff of Pakistan Steel Mills — which falls under the federal government — has been deprived of the yearly pay hike for the last many years owing to the precarious financial condition of the mill...

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