07242016Sun
Last update: Sun, 24 Jul 2016 09pm

Industries & Sectors

Pakistan - Industries & Sectors

LHC orders selling stocks of defaulter Brothers Sugar Mills LAHORE: The Lahore High Court (LHC) on Tuesday ordered selling of sugar stocks of the Brothers Sugar Mills, over non-payment of Rs 820 million to farmers and three banks.The court ordered for depositing the amount, received after selling the stocks, with the deputy registrar judicial of the court.The court also summoned the mill management on the next hearing, August 15.LHC Chief Justice Syed Mansoor Ali Shah passed the orders while hearing petitions, filed by the banks and farmers.During the hearing, the petitioners' counsel submitted that the respondent mill was not paying their dues for the last two years. They pleaded with the court to ensure payment of the dues.Punjab Cane Commissioner Waqas Ahmad submitted a stock report in response to the court orders and apprised that the mill had been sealed on the court orders. He said that sugar stocks comprising 400,000 bags had been taken into custody, whereas 209,000 ...

Pakistan - Industries & Sectors

CEO LKP talks about creation of a knowledge park in Lahore BR Research sat down with Mr. Shahid Zaman, the CEO of the Lahore Knowledge Park Company, to discuss some interesting concepts of the creation of a knowledge park in Lahore and how its development will phase out over the coming years.BR Research: Can you please give us a brief depiction of the Lahore Knowledge Park and how it came into being?Shahid Zaman: The Company was formed in October 2014, and we started working on the ...

Pakistan - Industries & Sectors

PTCL, IBM join hands to launch Cloud Service The Pakistan Telecommunication Company Limited (PTCL) and the US-based IBM has agreed to launch Public Cloud Services in Pakistan. According to local media reports, the agreement was signed between PTCL and IBM in Islamabad, under which IBM cloud platform, will offer Infrastructure as a Service (IaaS) with Virtual Private Servers (VPS), IAAS is a form of cloud computing that provides virtualized computing resources over the Internet, according to searchcloudcomputing.IBM cloud platform would also offer Backup ...

Pakistan - Industries & Sectors

Oil gas reserves discovered in Khyber Pakhtunkhwa ISLAMABAD: Fresh reserves of oil and gas have been discovered in Khyber Pakhtunkhwa.According to Pakistan Oilfields Limited, initial tests suggest that 2,836 barrel oil and 19.26 cubic ft gas could be extracted each day from the site, reported a private news channel.Earlier this year, Mari Petroleum Company Limited had discovered oil and natural gas reserve during drilling in Karak district of Khyber Pakhtunkhwa.During initial short-duration tests, the well flowed oil at the average rate of ...

Pakistan - Industries & Sectors

Commitment to meet fuel & energy needs KARACHI: In line with its commitment to meet the fuel and energy needs of Pakistan, the country's leading OMC PSO has kept its Sihala installation operational during the ongoing Eid holidays.A statement on Saturday said that this development comes at a crucial time when the outlets in the country's northern areas are faced with enhanced fuel demand owing to influx of tourists over the holidays.`By keeping the Sihala installation operational, we want to ensure that ...

Pakistan - Industries & Sectors

Govt giving special emphasis to IT sector to enhance exports ISLAMABAD: The government is giving special emphasis to the information technology sector to enhance its exports.According to officials over five billion rupees have been allocated in the current fiscal year for the development of IT industry, Radio Pakistan reported.Giving details of the IT related project to be undertaken in the current fiscal year, the officials said that a software technology park will be established in the federal capital with the assistance of Korea. The IT ...

Pakistan - Industries & Sectors

11 Years Old Karachiite creates Military Grade Drone The sheer talent that the youth of Pakistan posses is nothing short of amazing, especially when it comes to modern technology.Meet Bilal Ahmed, the 11 years old Karachiite is another prodigy which has build his very own drone at the Microsoft Innovation Centre in Karachi.And it does not stop here; Bilal has also built a number of robots on multiple platforms. The kid wants to develop a Bionic Suit, which is a sort of an ...