Home Tags Islamabad

Tag: islamabad

PTCL posts Double Digit Growth in Net Profit

By
Our Correspondent
-

Islamabad: Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has announced its financial results for the nine months’ period ended September 30, 2019 at its Board of Directors’ meeting held in Islamabad on Wednesday.

PTCL Group’s revenue for the nine months has grown year-on-year (YoY) by 4.5% to Rs. 98 billion. Ufone revenue has increased 6% YoY, UBank, a microfinance banking subsidiary of PTCL, has shown significant growth of 50% in its revenue over last year. PTCL Group’s operating profit and net profit for the nine months have decreased by 15% and 32% respectively as a result of high inflation, significant devaluation of PKR against USD and higher power tariffs.

PTCL revenue of Rs. 53.8 billion for the nine months is slightly higher than last year by 0.4%. PTCL’s flagship Fixed Broadband services posted revenue growth of 5%. PTCL continues its journey to upgrade its top revenue generating exchanges under Network Transformation Project (NTP) in different parts of Pakistan.

For the 95 exchanges fully transformed to date in 12 cities, YoY revenue growth is even higher at 12% and there is a 35% reduction in customer complaints. Fiber-To-The-Home (FTTH), deployed in major cities with more than 100,000 lines, has received a positive response from customers.

Corporate, Wholesale and International businesses continued their growth momentum from 2018 and has achieved 7% overall revenue growth. PTCL has entered into strategic partnership with a local telecom operator for its network expansion, with edotco to enhance Pakistan’s connectivity capabilities and Irdeto for Wi-Fi management and parental control functionalities.

Wireless revenue for the period has declined on YoY basis due to strong competition by the cellular companies providing wireless data services. There is continued decline in voice revenues due to continued conversion of subscribers to OTT, cellular services and illegal/grey traffic termination resulting in declining voice traffic volumes.

PTCL has posted a Net Profit after Tax of Rs. 5.5 billion for the nine months which is 14% higher than same period of last year. Operating profit for the period remained under pressure compared to last year mainly due to increase in operating cost on account of significant hike in power tariffs and currency devaluation. However, non-operating income has increased due to higher income on investments as a result of increase in interest rates and translation gain on forex based assets.

VIS Credit Rating Company Limited (VIS) has reaffirmed entity rating of PTCL of “AAA” (Triple A) and short term rating of “A-1+” (A-One Plus). The medium to long-term rating of ‘AAA’ denotes highest credit quality, with negligible risk factors, being only slightly more than for risk-free debt of Government of Pakistan.

The assigned ratings reflect PTCL’s leading market position, extensive network infrastructure, strong financial risk profile and adequate business risk profile. Ratings also incorporate strong sponsor profile with majority shareholding of 62% vested with the Government of Pakistan and 26% stake along with management control being held by Etisalat International Pakistan, a 90% owned subsidiary of Etisalat Group.

This year, PTCL portrayed its connection with the people of Pakistan through our Independence Day campaign TVC that was viewed more than 7 million times on social media platforms. The main theme of the TVC was along the lines that PTCL is the backbone of connectivity in Pakistan and a company trusted by customers for their daily connectivity needs in turn trusts PTCL to enable provision of these services.

As part of ‘Clean & Green Pakistan Movement’, PTCL undertook beautification, renovation and re-landscaping of 3 main places in the capital city. PTCL participated to support the startups incubated at National Incubation Center (NIC) Karachi at a special graduation ceremony, at NED University Karachi, for the first cohort of startups.

PTCL held a special ceremony to commemorate Defense Day, observe solidarity with the people of Kashmir and pay tribute to the families of martyrs who lost their lives protecting the motherland.

Read more: Senate Body asks PTET to resolve pensioners’ payment issue soon

Advertisment

Govt to achieve GDP target by controlling fiscal deficit, NA Body informed

By
Our Correspondent
-
NA body unanimously passes “The National Information Technology Board Bill, 2019”
Google Image

ISLAMABAD: The Minister for Planning, Development and Reforms informed that the government is trying to achieve the target of sustainable GDP by controlling fiscal deficit, improving balance of payment, increasing exports through improving domestic production and decreasing imports in a meeting on Wednesday

The 6th meeting of the National Assembly Standing Committee on Planning, Development and Reform was held with MNA Junaid Akbar in chair.

The Minister for Planning, Development and Reforms briefed about salient features of the draft 12th five years plan and suggested that the Standing Committee on Planning, Development and Reform and Standing Committee on Finance & Revenue may examine and suggest valuable opinions on draft plan before finalizing. 

For improvement in domestic productivity the Government is planning to pay special attention towards agriculture sector, small medium enterprises (SME) and large scale manufacturing. He also invited the Committee to visit the Ministry for detailed briefing on the PSDP.

The Committee discussed the compliance report regarding the recommendations of the previous meeting; the committee was not satisfied with the reply of Ministry regarding Mansehra Airport. The Committee constituted a Sub-Committee to examine the Mansehra Airport Project, under the convener-ship of Mr. Saleh Muhammad alongwith two committee members. The Ministry submitted comprehensive analysis on last three 5 years Plans.

The Committee recommended that the pending issues relating to devolved ministries may be resolved at the earliest by the Ministry of Inter Provincial Coordination with consultation of Cabinet Division. The Director General (Works) CDA briefed the Committee about construction of additional family suits for the members of Parliament.

The Committee appreciated the KPK Government for inclusion of Marble City Buner Project in the Provincial Development Programme 2019-20 on the recommendation of National Assembly Standing Committee.

Members/MNAs Sher Akbar Khan, Saleh Muhammad, Shaukat Ali, Syed Faiz Ul Hassan, Nawab Sher, Dr Seemi Bukhari, Muhammad Sajjad, Sardar Muhammad IrfanDogar, Ms Shaza Fatima Khawaja, NaveedDero, Syed Agha Rafiullah, Abdul Shakoor, Minister, Secretary and senior officers from the Ministry of Planning, Development & Reform, CDA, Civil Aviation and representative of Provincial Governments attended the meeting. (With additional input from INP)

Read more: Govt to return over $10b foreign debt during current fiscal year: NA informed

Advertisment

Prince William, Kate visit Kalash Valley after stopover in Chitral

By
Our Correspondent
-

ISLAMABAD: Duke and Duchess of Cambridge Prince William and Kate Middleton, on the third day of their five-day trip, visited the foothills of the Hindu Kush mountain range to witness the devastating effects of climate change, which is one of the key areas of focus of their visit.

  • Google Image

Earlier on Wednesday, the royals arrived in Chitral, where they were gifted traditional hats and a book of photos commemorating the trip of Princess Diana, who visited the valley in 1991.

  • Google Image

“Fantastic,” the prince remarked as he sifted through the pages of the book. The residents also gifted an embroidered coat to Prince William and a shawl to Middleton.

The couple visited Chiatibo Glacier in Hindu Kush mountain range in Chitral to witness effects of climate change and consequences of global warming, said PTI on its official Twitter account.

The duke and duchess arrived in Pakistan on Monday night on their maiden visit. Their second day was a busy one, which started with a visit to a girl’s college in the capital and then Margalla Hills, where they attended an event regarding environmental protection. The couple was hosted by President Arif Alvi and Prime Minister Imran Khan at the Aiwan-i-Sadr and Prime Minister House, respectively.

In the evening, they attended a glitzy reception, hosted by British High Commissioner to Pakistan Thomas Drew, at the National Monument where William, in his first official address, paid tribute to all the people who “endured sacrifice and helped build Pakistan to the country it is today”. (With additional input from INP)

Read more: Duke and Duchess of Cambridge call on PM Imran

Advertisment

QAU ‘Autumn Peace Festival’ in full swing

By
Our Correspondent
-
Google Image

ISLAMABAD: Organized by the Directorate of Student Affairs, Quaid-i-Azam University (QAU) Islamabad, week-long ‘Autumn Peace Festival’ is in full swing, in a bid to explore the creativity of the students by engaging them in different co-curricular activities and to promote the culture of tolerance and harmony among the youth.

On the first day of the festival, a conference titled ‘Social Cohesion in Pakistan in the Light of Paigham-e-Pakistan’ was held besides an art exhibition organized by the Quaidian Arts Society.

Minister of State for Parliamentary Affairs Ali Muhammad Khan, who was the chief guest at the inaugural ceremony, urged the students to study and follow the footsteps of Quaid-e-Azam Mohammad Ali Jinnah. He called for the establishment of a cohesive society which works toward the well-being of all its segments to create a sense of inclusiveness and promote peace, unity and trust by fighting divisions, exclusion and marginalization. He also underscored the need for introducing an education system in the country to promote civic consciousness, national unity and a better interfaith and inter-ethnic understanding.

Ali Muhammad Khan said Paigham-e-Pakistan, sponsored by the government of Pakistan, has played an important role as the national counter-terrorism narrative in challenging the menaces of terrorism and extremism as well as ensuring peace and stability in the society through national integration, adding that the current situation demands active involvement of important stakeholders to adopt measures for strengthening national integrity in order to achieve lasting peace and stability.

QAU Vice Chancellor Prof Dr Muhammad Ali lauded the efforts of the organizers and briefed the audience regarding the objectives of the festival. He said the ‘Autumn Peace Festival’ has been organised to explore the creativity of the students by engaging them in different co-curricular activities and to promote the cultural of tolerance, harmony on the campus.

Patron-In-Chief of Pakistan Sweet Homes Zamurd Khan, Director of Christian Study Centre Jennifer Jag Jivan and former executive director of Pakistan Institute for Parliamentary Services (PIPS) Zafarullah Khan also addressed the audience.

An ‘All Pakistan Declamation Contest’ will be held as part of the festival wherein teams of university students across the country will participate in two rounds. Music, cultural, comedy and drama show will be held on October 16. A seminar by Qalam Movement to promote teaching among non-school going children will be held on October 17 while a cricket match between Zalmi vs Quadian teams will be held on October 18. An ‘All Pakistan Drama Festival’ will be held on October 18 to 20 to provide students an opportunity to participate and show their talent on stage. (With additional input from INP)

Read: Duke and Duchess of Cambridge call on PM Imran

Advertisment

Bilawal says govt would be responsible if something happened to Asif Zardari

By
Our Correspondent
-
Bilawal says govt would be responsible if something happened to Asif Zardari
Google Image

ISLAMABAD: Chairman of Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari on Tuesday said that incumbent government would be responsible if something happened to his father and former president Asif Zardari in jail.

Bialwal in his twitter message wrote, “The Pakistani state continues to try and use my father’s ailing health to pressure my party.”

He said despite being detained without being convicted of anything since August, Asif Zardari is still to receive medical care.

The Chairman PPP further said despite multiple medical reports from the governments own doctor that he should be provided with medical facilities in prison and shifted to hospital for investigation and treatment he has been denied his fundamental rights.

He added that not only has he not been taken to hospital he has still not been provided with a fridge to keep his insulin and medicine.

Bilawal continued that if anything was, God forbid, to happen to my father we will hold this government responsible, adding that despite these tactics we will not compromise on our principles or democratic politics.

Earlier, an accountability court rejected a petition filed by former president Asif Ali Zardari, who has been put in jail on judicial remand, seeking his shift to a hospital for medical care.

The court remarked that the court doesn’t have jurisdiction over the matter, and it should be referred to the relevant forum.(Additional Input From INP)

Related: Verdict on Zardari’s plea for jail facilities reserved

Advertisment

Co-accused consents to become approver in Park Lane case against Zardari

By
Our Correspondent
-
Ahad Cheema
Courtesy Google

ISLAMABAD: The National Accountability Bureau (NAB) informed the accountability court here on Tuesday that a co-accused in Park Lane reference against former president Asif Ali Zardari, has decided to become approver in the case.

The NAB produced Javed Hussain, a former executive director of the Securities and Exchange Commission of Pakistan (SECP) and a co-accused in the Park Lane reference, before the accountability court today.

The NAB prosecutor informed Accountability Judge Mohammad Bashir about the new development in the case and said that the case of the accused has been sent to the NAB headquarters.

The NAB also requested to the court for physical remand of the accused.

The prosecutor on a question of the judge informed the court the accused remained on 49 days’ physical remand with the accountability bureau.

The judge after the reply of the prosecutor rejected the plea for further physical remand and sent the accused to jail on judicial remand.

In a previous hearing the court had extended the judicial remand of Pakistan People’s Party (PPP) Co-Chairman Asif Ali Zardari and his sister Faryal Talpur till October 22 in cases pertaining to money laundering through fake bank accounts and Park Lane reference.

The Park Lane case has been registered under the National Accountability Ordinance, 1999, and the Anti-Money Laundering Act, 2010.

Former president Zardari has been accused of being involved “in extending loan and its misappropriation by M/s Parthenon Private Limited, M/S Park Lane Estate Private Limited and others”.(Additional Input From INP)

Related: Verdict on Zardari’s plea for jail facilities reserved

Advertisment

Duke and Duchess of Cambridge call on PM Imran

By
Our Correspondent
-
Google Image

ISLAMABAD: The Duke and Duchess of Cambridge called on the Prime Minister Imran Khan on Tuesday. The Royal Couple was accompanied by Mr. Simon Case, Private Secretary of the Duke, and Mr. Thomas Drew, British High Commissioner to Pakistan.

The meeting was held in a warm and cordial atmosphere. While welcoming the Royal couple, Prime Minister Imran Khan recalled the love and affection among the people of Pakistan for Princess Diana, because of her compassion as well as commitment to support charitable causes.

Prime Minister Imran Khan commended the visiting dignitaries for raising awareness of the issues being faced by the modern world like climate change, inequality, and education. The Prime Minister also lauded the Royal couple for promoting positive activities in Pakistan and their interaction with young Pakistanis.

The Prime Minister apprised the Royal couple of domestic priorities and Pakistan’s perspective on external environment, including relations with India post 5 August and support for peace and reconciliation in Afghanistan.

The Duke of Cambridge stated that Pakistan is a very important country for the UK. He thanked the government of Pakistan for the warm welcome and hospitality extended to them and their entourage.

The Prime Minister later hosted luncheon for the visiting dignitaries.

The Duke and Duchess of Cambridge are on a 5-day tour of Pakistan and would be visiting Islamabad, Lahore and the North of Pakistan.

The royal couple also met President Arif Alvi as part of their ongoing tour of the country in Aiwan-e-Sadar

For the meeting with President Alvi and PM Imran, Kate Middleton opted for white trousers by Maheen Khan paired with a bright green tunic by Catherine Walker.

She accessorized the dress with a scarf by Satrangi and earrings by Zeen.

Earlier, The Royal couple visited Government Girls High School, University Colony in Islamabad on Tuesday.

The couple saw different parts of the school and also inspected a class of mathematics. They got mixed up with the students of the school, Radio Pakistan reported.

The school administration briefed the royal couple about the school and the education system in Pakistan.

The visiting royals during their five-day visit are scheduled to visit Northern Areas and Khyber Pakhtunkhwa besides capital Islamabad and Lahore.

It is the first royal visit to Pakistan in 13 years. The last one was by Charles, the Prince of Wales, and Camilla, the Duchess of Cornwall, who spent five days in Pakistan in 2006.

Commenting on the Royal visit, Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan said on Tuesday that British royal couple’s visit to Pakistan “reflects bright and ambitious image of Pakistan”.

Related: The Duke and Duchess of Cambridge arrive in Pakistan

“The homeland is the home of a great cultural heritage and a place of ancient civilization,” she stated in a tweet shared on her official Twitter account.

She mentioned that the visit would strengthen Pakistan-UK relations, and impact Pakistan’s identity in true and positive terms.

“Pakistan is emerging as a beautiful and attractive destination for tourists […] the fascinating beauty of Pakistan’s historic sites and northern areas are distinguishing features of the state.”

“Pakistan and the nation welcome the royal guests […] [We] hope that Prince William and Kate Middleton will return with beautiful memories,” she said. (With additional input from INP)

Advertisment

FGECHS directed to handover developed plots to employees of NA Secretariat

By
Our Correspondent
-
NA body unanimously passes “The National Information Technology Board Bill, 2019”
Google Image

ISLAMABAD: The National Assembly Standing Committee on House and Library expressing its concerns over the inordinate delay in handing over the possession of the plots to the employees of National Assembly Secretariat by the management of Federal Employees Cooperative Housing Society (FGECHS) has termed it a breach of Joint Venture contractual obligation by the management of the society.

Meeting of the Committee held with MNA Ms. Kishwer Zahra in Parliament House on Monday while discussing the issue of delay in handing over the possession of plots, was of the view that a despite of deposit of money with FGECHS since year 2014, the developed plots had not been handed to the allotees.

The Committee directed the President FGECHS to immediately honor the contractual obligation.

The President FGECHS apprised the committee that the present management of the society would fully abide by its contractual obligations after the approval of the lay out plan by the CDA and handing over of land of National Assembly Employees Housing Society (NAECHS) to the FGECHS. He informed the Committee that the society had been subjected to mismanagement and malpractices by the previous management of FGECHS, therefore the plots could not be handed over so far. He further informed that the previous management was being investigated by the NAB.

The President NAECHS apprised the Committee that 376 developed plots out of 1097 plots had been handed over to the members of NAECHS, whereas further 100 plots have been agreed to be allotted subject to approval of the layout plan by CDA. He further informed that process of demarcation of land of NAECHS was in process and the same would be handed over to the FGECHS management for further action.

While discussing the matters pertaining to the cleanliness of Parliament lodges, the Committee lamented the lethargy of janitorial staff and directed for ensuring the cleanliness of the premises. The Committee directed CDA to ensure timely payment of wages to the janitorial staff.  The Committee also directed to ensuring that lifts in the lodges are in proper working condition and quality food in the Cafeteria prepared in accordance with the prescribed health standards.

The meeting was attended by MNAs Ms. Aliya Kamran, Ms. Munawara Bibi Baloch, Ms. Musarat Asif Khawaja, Ms. Romina Khursheed Alam, Mr. Farrukh Habib, Additional Secretary (A) National Assembly and concerned officers of M/o Interior, ICT and CDA. (With additional input from INP)

Advertisment

Speaker NA succeeds in melting ice in Pak-Afghan relations through parliamentary diplomacy

By
Our Correspondent
-
Indian illegal occupation of Kashmir, risk to regional peace: NA Speaker

BELGRADE: An important breakthrough in the relations of Pakistan and Afghanistan took place when the Speakers of both countries decided to hold bilateral talks at parliamentary levels to promote cooperation and understanding as well as to evolve trust based strategy for fostering people-to-people contacts.

The development took place when the Speaker National Assembly, Asad Qaiser met with his Afghan Counterpart, Mr. Rahman Rahmani on the on the margins of the 141st Assembly of the Inter-Parliamentary Union (IPU) in Belgrade, Serbia.

The Afghan Speaker appreciated the efforts of the government and parliament of Pakistan for improving the state-of-affairs between the two countries and also lauded the initiatives of the Prime Minister of Pakistan, Imran Khan in expanding the scope of cooperation by opening up the Torkham Border for 24/7 trade operations.

Asad Qaiser informed the Afghan Speaker that the National Assembly of Pakistan was ready to offer its services for enhancing the capacity of the Afghan Parliamentarians and Parliamentary Officials through the platform of Pakistan Institute for Parliamentary Services (PIPS). He further extended an invitation to the Afghan Speaker for leading a parliamentary delegation to Pakistan to discuss the outstanding bilateral issues including the relaxation in visa regime as well as expansion of trade and commerce activities between the two countries.

You may like: US withdrawal from Afghanistan, implications on Pakistan

While informing the Afghan delegation on the Indian brutalities in the IOJ&K, the Speaker NA also urged the Afghan Speaker to play his due role in normalizing the situation in the Indian Occupied Jammu & Kashmir which is under siege for last 72 days in order to avoid a humanitarian crisis in the region.

The maiden meeting between the Speakers of the two countries proved instrumental in paving way for relations and continued cooperation through parliamentary platforms. (With additional input from INP)

Advertisment

CDA awards contract for Service Road (North) of Sector E-12

By
TNT Monitoring Desk
-
Google Image

ISLAMABAD: The Capital Development Authority (CDA) has awarded the contract for Service Road (North) of Sector E-12 in Islamabad and directed the contractor to mobilize all machinery by Sunday.

On the instructions of CDA, the contractor has set up a site office in Sector E-12 and work would be started in the couple of days.

The tender for the Service Road (North) of Sector E-12 was published in the newspaper on September 12, 2019, in response of which 16 construction companies participated in the bidding. M/s Shabir Ahmed & Brothers gave the lowest bid which was 30% below the estimated cost Rs.139.228 million. After fulfillment of codal formalities and approval from competent forum contract awarded to the lowest bidding company as offered 97.107 (million) rupees.

Related: CDA asked to focus on better development of Jinnah Super Market

The contractor will not only construct the entire Service Road (North) dualize, but also scoop of work including three culvert and drainage network on this road in the first step, because of the full development of Sector E-12 at the 45th meeting of CDA-DWP has already been approved the PC-I amounting to Rs.6630.2 million, by which all the infrastructure of Sector E-12, including electrification.

It is pertinent to mention here that sector E-12 remained stalled for three (03) decades due to which the plot allottees were facing difficulties. Incumbent management of the Authority, after prioritizing the development of the sector not only carried out massive operations to vacate land from illegal occupants but also completed codal formalities during a short time spam and approved the Rs.6630.2 million PC-I, due to continuous and efficient efforts, construction of Service Road (North) has been made possible, and construction work will start in the next few days. (With additional input from INP)

Advertisment
1...108109110...116Page 109 of 116

Copyright © The News Today. All rights reserved.