OGDCL makes another oil & gas reserves recovery in Sindh
The Oil and Gas Development Company (OGDCL) announced an oil and gas discovery at the exploratory well namely Kot Nawab-1, located in Sanghar District, Sindh. “Based on the results of wireline logs interpretation, Drill Stem Test-1 in the Basal Sand has tested 125 Barrel of Oil per Day (BOPD) and 0.483 Metric Million Standard Cubic…
Adil Aziz
China to cut quarantine for overseas travellers next month
CHINA plans to cut quarantine requirements for overseas travellers in January, according to people familiar with the matter, as the country dismantles the last vestiges of its Covid Zero policy. Officials are considering a “0+3” policy, where the requirement to spend time in a quarantine hotel or isolation facility would be scrapped, and arrivals into the…
TikTok steps up efforts to clinch US security deal
POPULAR short-video app TikTok is offering to operate more of its business at arm’s length and subject it to outside scrutiny as it tries to convince the US government to allow it to remain under the ownership of Chinese technology company ByteDance, according to people familiar with the matter. TikTok has been seeking to assure US…
NUMS, South Korean Research Center agree to set up preventive vaccines production unit in Pakistan
National University of Medical Sciences (NUMS) and South Korean biopharmaceutical company Research and Development of Eyegene Inc have agreed in principle on setting up preventive vaccines production units in Pakistan on the basis of Public Private Partnership to further enhance cooperation between the two institutions. This understanding was reached during a meeting of Vice Chancellor…
France fines Microsoft 60 million euros over advertising cookies
FRANCE’S privacy watchdog said (Dec 22) it has fined US tech giant Microsoft 60 million euros (S$86 million) for foisting advertising cookies on users. In the largest fine imposed in 2022, the National Commission for Technology and Freedoms (CNIL) said Microsoft’s search engine Bing had not set up a system allowing users to refuse cookies…
OGDCL carries out 221 Line-km 2D seismic surveys in 1st quarter of FY 2022-23
Oil and Gas Development Company Limited (OGDCL), during the first quarter of the current fiscal year, carried out 221 Line-km 2D and 21 Square-KM 3D seismic surveys in its various operational areas to discover hydrocarbon reserves. “The acquired 221 Line km of 2D seismic data and 21 Sq. km of 3D seismic data represents 49%…
Committee formed to settle circular debt for gas sector companies
Minister for Finance Senator Ishaq Dar notified a committee on Circular Debt (CD) settlement plan for gas sector companies. According to a notification issued by the finance division, the committee would undertake a detailed mapping of the gas sector’s circular debt stock as of June 30, 2022, segregating the principal amount of debt, LPS, penalties,…
FTO nominates Ahsan Bakhtawari as Honorary Business Coordinator
Ahsan Zafar Bakhtawari, President Islamabad Chamber of Commerce and Industry (ICCI) has been nominated as the Honorary Business Coordinator by the Federal Tax Ombudsman Secretariat, Islamabad to work in coordination with FTO for addressing the grievances of taxpayers and facilitate them in tax matters. Dr Asif Mahmood Jah, Federal Tax Ombudsman presented the letter of…
Ismail Industries Extends Relationship with SAP for Digital Transformation
Ismail Industries Limited, one of the major Pakistani confectionery and snack food manufacturers, has signed up a road map contract with SAP for the digitization of business functions across all its operations. SAP has successfully provided a holistic solution to one of the largest manufacturers in Pakistan to improve its core system and move to…
Pakistan achieved 6% growth for two consecutive years (FY 21-22)
Pakistan’s economy achieved a real GDP growth of around 6 percent, for a second consecutive year in FY 22, says annual report on the country’s State of Economy released by the State Bank of Pakistan, According to the report, the growth was broad-based as both agriculture and industry saw a notable increase that spilled over…