01192017Thu
Last update: Thu, 19 Jan 2017 05am

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PC Board approves lease out plan of Pakistan Steel Mills MUSHTAQ GHUMMAN ISLAMABAD: Privatisation Commission's Board headed by Chairman Privatisation Commission, Muhammad Zubair approved lease out plan of Pakistan Steel Mills (PSM) on Tuesday.The proposed transaction structure of PSM, which would be presented to the Cabinet Committee on Privatisation (CCoP) in the coming days, envisages a tripartite concession agreement between GoP, PSMC and the investor for a period of 30 years on the basis of revenue sharing. PSMs land will remain with the government while the plant and machinery will be handed over to the new company for a maximum of 30 years.The sources said PSM would lease core assets to the investor including land, plant, machinery and building. No asset would be sold. Investor would form a new company under Pakistani laws and be allowed to operate the plant at the PSM premises. All non-core assets would remain the property of PSM which would be responsible to manage them. ...

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PM's counsel dismisses tax evasion allegations in Panamagate case ISLAMABAD: Supreme Court of Pakistan on Wednesday resumed the hearing of Panamagate case as Prime Minister Nawaz Sharifs counsel continues his arguments before the bench after he raised the issue of immunity in previous hearing.A five-member Bench, headed by Justice Asif Saeed Khosa is hearing the case on daily basis. Other bench members are Justice Ejaz Afzal, Justice Gulzar Ahmed, Justice Sheikh Azmat Saeed and Justice Ijaz ul Ahsan. It should be mentioned here that ...

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Iran 'hostile' to US involvement in Syria talks TEHRAN: Iran's Foreign Minister Mohammad Javad Zarif said late Tuesday that his government opposed the United States joining Syrian peace talks to be held in Kazakhstan next week, local media reported."We are hostile to their presence and we have not invited them," Zarif said, according to the Tasnim news agency. That goes against the position of the other two organisers of the talks -- Russia and Turkey -- which have said the new US administration ...

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RECORDER REPORT-PSX mid day update KARACHI: On Wednesday, until mid day, KSE-100 Index was at 48865.31 with a positive change of 186.66 and volume of 81,874,580 shares.High and Low were 48971.01 and 48678.65 respectively. Total volume traded in the market was 164,222,800 shares with 357 total traded companies out of which 216 were up, 130 were down and 11 were unchanged.COMMERCIAL BANKS was the top traded sector with total traded volume of 33,093,800 shares. It was followed by ENGINEERING with ...

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Raheel says intelligence sharing very important to combat terrorism MONITORING DESKKARACHI: Former army chief General Raheel Sharif (retired) has said on Tuesday that intelligence sharing is very much important component of the course of action against terrorism. Aaj News reported that he expressed these views at a session discussion on "Terrorism in the Digital Age" at the World Economic Forum in Davos.Raheel Sharif said that terrorism was a global issue and the global community would have to get united to defeat it. He said ...