Business
SITE industrialists criticized Sindh Govt policies
Appeal to convert strict lockdown into smart lockdown Not acceptable discrimination against resumption of industries & local traders of Karachi: Motiwala, Chawla Karachi, April 22, 2020: President SITE Association of Industry, Mr. Suleman Chawla called an emergent meeting to discuss the issues pertaining to the industrialists in current situation. Meeting was attended by large number…
Stock slightly up as oil crisis damaging investor’s sentiment
Karachi, April 22, 2020: Tumbling international crude prices, especially that of Brent (traded below US$ 16/bbl briefly), caused the damage to investor sentiment Wednesday. Pre-open session saw oil & gas (E&P and OMC) stocks with heavy volumes on offer. Market opened on a negative note and saw a loss of 529 points during the session….
FBATI strongly requests Federal govt. to permanently withdraw ISPA
Karachi, April 22, 2020: Federal B Area Association of Trade & Industry (FBATI) strongly requests the Federal Government to permanently withdraw Industrial Support Package Adjustment (ISPA) arrears and provide relief to the industries, a statement said on Wednesday. Mr. Abdullah Abid, President and Mr. Masroor Alvi chairman sub-committee FBATI, reiterated that while K-Electric had deferred…
ISPA adjustment rejected in Electricity Bills
Industrialists threaten to shut down factories NKATI demanded K-Electric not to enforce ISPA charges till 30th April 2020. Karachi, April 21, 2020: Capt. A Moiz Khan, patron-in-chief, North Karachi Association of Trade and Industry (NKATI) and President Naseem Akhtar has rejected ISPA charges in Electricity Bills and warn K-Electric not to enforce ISPA charges till…
Ciena Group in talks to revive Tuwairqi Steel Mills with $700mln investment
Karachi, April 21, 2020: Ciena Group of USA has expressed its interest in reviving Tuwairqi Steel Mills Limited (TSML), a cutting-edge $ 340 million 1.28 MTPY Direct Reduction of Iron (DRI) plant which has been lying idle since 2013. After coming into production in January 2013, TSML’s DRI plant had to be shut-down in September…