02122016Fri
Last update: Fri, 12 Feb 2016 07pm

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Pakistan International Airlines Corporation (PIAC) resumed its full operations Wednesday after bearing a loss of up to Rs 5 to 6 billion due to the strike, which had brought the flight and ground operations of the national carrier to halt for eight days. PIA operated 117 flights on Wednesday including 43 international flights. Due to adjustments being made to accommodate maximum number of passenger load in relatively short time, some change in timings of flights was seen.

A delegation headed by the national carrier's Joint Action Committee chairman met the Punjab Chief Minister to defend it, saying "it is a national institution and its protection and development is our joint responsibility". Chairman Sohail Baloch also praised the committee, claiming it had taken a "commendable step in the national interest by ending the strike".
In a surprise move, National Electric Power Regulatory Authority (Nepra) has withdrawn upfront tariff for three RLNG-fired power plants on technical grounds, saying that since the efficiency of the three RNLG projects has different specifications, universal upfront tariff is not applicable. The Authority on April 3, 2015 determined and announced upfront tariff for RLNG-based new power projects on petition filed by Private Power and Infrastructure Board (PPIB) for determination of upfront tariff for new capacity generation on RLNG fuel.
An inter-ministerial committee headed by Commerce Minister, Engineer Khurram Dastgir Khan is likely to recommend measures to curtail sky-rocketing sugar price in the wholesale and retail markets, well informed sources told Business Recorder. The committee is meeting on Thursday (today). Secretary Ministry of Commerce, Shehzad Arbab Secretary Industries and Production, Arif Azim and Secretary Ministry of National Food Security and Research will attend the meeting.
Bears kept dominating the Wednesday's proceedings at the equity market and the KSE-100 index shed 300 points to close at 32,144 points. The benchmark index showed volatility by hitting the intraday high and low of 32,464 points and 32,106 points. Trading turnover ended higher at 168.8 million shares worth Rs 9.32 billion.
Bears kept dominating the Wednesday''s proceedings at the equity market and the KSE-100 index shed 300 points to close at 32,144 points. The benchmark index showed volatility by hitting the intraday high and low of 32,464 points and 32,106 points. Trading turnover ended higher at 168.8 million shares worth Rs 9.32 billion.
Pakistan said on Wednesday it had signed a 15-year agreement to import up to 3.75 million tonnes of liquefied natural gas a year from Qatar, a major step in filling Pakistan's energy shortfall. The deal, Pakistan's biggest, will help the country add about 2,000 megawatts of gas-fired power-generating capacity and improve production from fertiliser plants now hobbled by a lack of gas, a government official said.