Walt Disney bans import from Pakistan; include more updates – Taurus Research
By: Taurus Securities Limited
UAN: 111-828-787
US licensor Walt Disney has dropped Pakistan from its list of ‘Permitted Sourcing Countries’ from April 1, sources in the textile industry confirmed on Wednesday. The US entertainment giant banned any import from Pakistan as the country failed to satisfy the trading partner company of its intentions to improve what it considered “poor governance standards”. (DAWN)
Power tariff raised for Karachi: The National Electric Power Regulatory Authority (Nepra) has approved up to 70 per cent increase in electricity tariff for Karachi‐ Electric consumers. Through a series of tariff determinations in the matter of revenue requirements of K‐Electric, the power regulator also increased by 100 per cent rates for lifeline consumers who consume less than 50 units per month. (DAWN)
K‐Electric denies overcharging allegation: K‐Electric, formerly Karachi Electric Supply Company, has denied allegations that its management authorised excessive billing from customers who were accused of stealing electricity. The only privately‐run power utility issued a lengthy statement on Wednesday in response to a show cause notice from National Electric Power Regulatory Authority (Nepra), which wants to impose a Rs100 million fine on the company. (ET)
China uncertain about cotton consumption: The uncertainty on how China will handle its large reserves in the next season and the significant gap between polyester and cotton prices does not bode well for cotton consumption in China and, by extension, countries that have heavily exported cotton to China in recent seasons, a statement said on Wednesday. (TN)
LNG terminal licence: Ogra has put on hold the process of issuing a LNG terminal licence until clearance from the Ministry of Defence and Port Qasim Authority (PQA) for use of its main channel. The regulator has asked Elengy Terminal Pakistan Limited (ETPL), which is getting the licence, to get the go‐ahead from the defence ministry and provide a no‐objection certificate (NOC) for the use of jetties in PQA’s main channel for handling LNG imports, sources say. (ET)
Read More>>
Taurus Research
Investor Guide Pakistan - Stocks, Mutual Funds, Forex, Commodities & Personal Finance News