Plwt Corporate result Higher sales lower cost take OGDC s profit to Rs17 billion
ISLAMABAD:Foreign Minister Shah Mehmood Qureshi has said that the Organisation of Islamic Cooperation (OIC) recognizes that the Indian move to strip Kashmir of its autonomy by revoking Article 370 was a violation of international law and tantamount
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to further jeopardising the already tenuous peace situation in South Asia.The OIC convened at its headquarters in Jeddah, Saudi Arabia
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, on Tuesday, in an emergency session of its contact group on Jammu and Kashmir. FM Qureshi represen
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ted Pakistan in the session which was attended by the representatives of Saudi Arabia, Azerbaijan, Turkey and other member states.Pakistan urges OIC to take note of India's atrocities against KashmirisQureshi, in a series of posts on micro-blogging website Twitter, said the OIC recognized that India s aggression had placed more than 1.5 billion of South Asia at risk. I reiterated Pakistan s stance on the peaceful resolution of Jammu and Kashmir dispute and that India s hostility doesn t give me much hope for a c Xzhn Six-week break prescribed to injured Anderson
ISLAMABAD:The Finance Division and the Economic Affairs Division (EAD) have refused to back a proposal for waiving the guarantee fee of Rs139 million on a loan taken by the Water and Power Development Authority (Wapda) during the tenure of Pe
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rvez Musharraf s government to meet financial obligations of power distribution companies.Wapda took a loan of $125
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million from Standard Chartered Bank in June 2007 with government guarantee. The loan was partially paid in two installments of $25 million each in 2009. The remaining around $70 million was converted into local currency in 2010, which came in at Rs6.45 billion.That portion of the loan, as part of the Rs216-billion circular debt, was to be transferred to a holding company, but the government could not do so, as Standard Chartered argued
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that the agreement was not acceptable to its syndicate members.The loan was finally adjusted and settled after issuing Pakistan Investment Bonds (PIBs)/treasury bills in April 2011. The EAD worked out