Wed. Dec 1st, 2021

Saima Iqbal

Saima Iqbal is a Fellow Chartered Accountant (FCA) and covers corporate news for Truestories.pk. you can reach her through saima.iqbal@truestories.pk
The sacked staff included employees of Pay Group 2, 3, 4, junior officers, assistant managers, divisional managers, DCEs, DGMs and managers. The government will pay an average of Rs 2.3 million per employee under the golden hand-shake scheme. On the other hand, thousands of employees of steel mills staged a large protest rally in Karachi ... Read More
NEPRA blamed the distribution companies (Discos) for damaging the government’s vision of an improved road map; through over-billing in order to hide their inefficiencies and high system losses. The regulator mentioned in its State of Industry Report 2019 that persistence of existing load-shedding policy in areas with high loss choked sales growth and surged energy costs. It also warned that ... Read More
In spite of receiving two vessels of over 125,000 tonnes of imported wheat during last 12 days, the country is still facing the problem of price surge (Rs2 per kg) of the commodity. The third vessel with 69,000 tonnes is also expected to reach the Karachi Port on Tuesday. The price of imported wheat is now fixed at Rs47.50 per kg compared to Rs45-46 per kg while the price of locally-produced wheat ... Read More
NTDC objected various directives of NEPRA and claimed that these would take the things towards another capacity trap by restricting the scope of bidding for lowest tariff. It further added that the said directions would increase the volume of projects and thus the least cost principle in connection with the Indicative Generation Capacity Expansion Plan (IGCEP 2020-47) would ... Read More
The government decided to go with the same prices of the natural gas and rejected the summary from Oil and Gas Regulatory Authority’s (OGRA) that had recommended a 2-6 per cent reduction in the prices of the utility. The decision of keeping the prices unchanged has been taken to partially offset the losses of gas companies. A trusted source claimed that the government categorically told ... Read More
In a recent development a Peshawar High Court (PHC) bench directed the Federal Board of Revenue (FBR) through a stay order to temporarily stop from acting on its recent order of 5th August in which the financial matters of 340 industrial units were shifted from RTOs to the re-designated Large Taxpayer Unit (LTU) Islamabad. Out of these 340 ... Read More
Hafiz Arfat Ahmed Chaudhry, a lawyer filed a contempt petition in Supreme Court of Pakistan against the management of Karachi’s Bahria Town pleading that they violated the judgment of the apex court released on March 21, 2019. The petition was filed against the chairman of Bahria Town Karachi Malik Riaz Hussain, his son Ahmed Ali Riaz, Bina Riaz and Zain Malik. The petitioner ... Read More
In spite of sever oil supply crisis in the recent past, the oil industry and the federal ministries are busy in a tug-of-war over allocation of berthing rights for oil import for last half an year. Reliable sources claimed that the situation came to the lime-light when the directorate general of oil (DG-Oil) recently renewed instructions for berthing schedule to oil imports and then directed the Oil Companies ... Read More
Minister for National Food Security and Research Syed Fakhr Imam disclosed that the Federal Government had written two letters to the PPP-led provincial government so as to release wheat from its official stock however the provincial government’s continuous and consistent snub in this regard was creating problems for the Center. Imam bashed that the wheat production during the last Rabi season ... Read More