Sui Southern Gas Company Ltd (SSGC) said on Wednesday it’s going to convert SSGC LPG Ltd, a wholly owned subsidiary, into a public limited firm by offering its shares to the general public. The government-owned gas distribution company said it’ll initiate the process for the “issuance of 33.3 million shares” of the converted company by means of an initial public offering (IPO) at “any time in (
Federal Secretary Industries and Production Asad Rehman Gilani has said that while embarking on this journey with locally manufactured hybrid electric vehicles (HEVs) on our roads, let’s keep in mind, that the country must expedite exports to reduce the trade deficit. “I see no better partner to support this goal, than our long-term standing partner, Toyota,” he said while gracing the rolling o
The rupee continued its winning streak for the seventh session in a row gaining 24 paise against the US dollar in the interbank market on Wednesday. However, the local currency’s performance remained unimpressive as it appreciated by just Rs1.50 in the last seven trading sessions. Some senior bankers say the exchange rate stability is good for attracting foreign investments and supporting ec
The Asian Development Bank (ADB) on Wednesday said it had approved $659 million for three separate projects to be implemented by the federal government, Sindh and Khyber Pakhtunkhwa provinces for more inclusive and sustainable growth and development. In a statement, the Manila-based lending agency said the projects will focus on improving domestic resource mobilisation, rehabilitating schools d
Perturbed over the power regulator’s inquiry indicting distribution companies (Discos) of malpractices and over-billing in the provision of electricity, the Power Division on Wednesday constituted another ‘independent and impartial committee’ to probe the findings and legalities of the Nepra report. The inquiry committee, constituted by the Power Division secretary to probe the Nepra’s inqu