Tag: Likely

KARACHI - Pakistan Oilfields Limited (POL) is likely to earn a profit after tax (PAT) of Rs 5,165 million with earnings per share of Rs 21.84, a phenomenal 56 percent annual rise. This massive rise is largely driven by an annual rise in oil and gas production of 12 percent and 82 percent respectively.
Net revenue of the company is estimated to rise by an annual 38 percent to Rs 11,294 million compared to Rs 8,173 million recorded in the same period last year. The phenomenal jump

KARACHI - The Economic Coordination Committee (ECC) is likely to approve the import of over 0.225 million tonnes of urea through the Trading Corporation of Pakistan (TCP) to ensure prompt availability of urea in the market and averting the current urea crisis in the country.
According to source, the ECC was likely to allow the TCP to import the urea given that the private sector has evinced little interest in the matter, sources told Pakistan Today. The meeting of ECC which is

LAHORE - Leg-spinner Danish Kaneria is planning legal action against the Pakistan Cricket Board after the PCB refused to meet his lawyer who was seeking clarification for his continued exclusion from the Pakistan team.
"We have received another email from their lawyer saying again they are not prepared to have a meeting so obviously we are very, very disappointed about that," Steve Haurigan, Kaneria's lawyer, said. Sources close to the bowler said that the way things are falling

LAHORE - The Pakistan Cricket Board is likely to appoint Misbahul Haq as the one-day captain after his impressive show in Test format of the game. Sources in the PCB claimed that many top PCB officials and selection committee members were not happy with the performance of Shahid Afridi as a player and case for Misbah is very strong now for the forthcoming ODI series on trial basis before the World Cup.
If he proved a success, he would be asked to continue to lead the team in the

ISLAMABAD - President Asif Ali Zardari is set to appoint close aide Latif Khosa to succeed slain Salmaan Taseer as the Punjab governor, officials said, another step in resolving a week-long political crisis. President Asif Ali Zardari is expected to name Khosa, a former attorney general, on Saturday from Karachi.
"Khosa is most likely to be appointed as the Punjab governor," a senior government official said. Other top officials confirmed the appointment was expected. Khosa told

KARACHI - Pakistan is likely to fetch exports of $22 billion during the financial year 2010-2011 and exceed the export target of $21.5 billion set for the year.
Pakistan has already achieved the over 19 percent increase in export in the last five months of the financial year, while targets set by the ministry of commerce would easily be surpassed in the remaining months, experts viewed. They believed that rising competitiveness of Pakistani companies was the primary reason for a

LAHORE - The Pakistan Hockey Federation is considering change in the dates of Pakistan and Egypt hockey test series to avoid clash with the Cricket World Cup. The PHF and its Egyptian counterparts have agreed to hold a hockey series and as the plan goes, it was to be held in February-March on a reciprocal basis in which Pakistan would first visit Egypt and then they would make a return visit in March.
However, the dates and number of matches are yet to be finalised but before

ISLAMABAD - The Oil and Gas Regulatory Authority (OGRA) has proposed a hike in petroleum prices from Rs 2 to Rs 6 per litre for January, an official source said on Thursday.
The final decision to implement the new prices would be decided by the government today (Friday), the source said, adding that the government had maintained the petroleum prices in December and picked up the Rs 2 billion differential in prices in January.
He said the crude oil prices had risen by 20

ISLAMABAD - Pakistan may soon start receiving unarmed drone aircraft, known as Shadow drones from the US as both the allied nations in anti-terrorism global campaign are moving forward in the parleys being held for the purpose.
The US made known its plan to provide Pakistan with around a dozen unmanned aerial vehicles (UAVs) back in January 2010 during the visit of US Defence Secretary Robert Gates to Islamabad. The US authorities believe that the Shadow drones would help bolster

KARACHI - The increased gas curtailment to 20 percent and 12 percent from the Sui and Mari gas networks respectively is expected to lead to the supply falling below the expected demand of six million tonnes in 2011.
This is will likely force the government to import more urea and earlier than anticipated. Moreover, the recent price hike of Rs190 per bag of urea is more than enough to offset any production losses.
Despite gas curtailment since April 2010, urea offtake in

KARACHI - The prevalent bullish trend at the KSE helped the index cross the 11,900 points barrier as it peaked at 11,927 points on the first day of the week. The index fluctuated around this point throughout the week, moving in both directions.
Christmas holidays muted the foreign inflow of funds to merely $5.64 million during the outgoing week and participation of foreign investors is unlikely in the last week of the year. Local punters and fund managers would lead the market's

LAHORE: Pakistan's suspended Test captain Salman Butt could face a seven-year ban and teammates Mohammad Asif and Mohammad Aamer could get two-year bans if charges are proven against them in the next month's hearing of the ICC's anti-corruption tribunal in Doha. Reports from ICC sources say that case against Butt was strong and he could likely be banned and slapped heavy financial penalty. Reports of his ban has come at a time when Aitzaz Ahsan, a leading lawyers, withdrew from the

LAHORE - The Punjab government led by Shahbaz Sharif is likely to "gift" an important post to former Lahore High Court chief justice Khawaja Muhammad Sharif for his unshaken loyalty and time-tested friendship with the Sharifs.
PML-N chief Nawaz Sharif visited Justice (r) Sharif at his residence and discussed with him the basics of the new task and other related issues. A member of the PML-N Central Organising Committee told Pakistan Today that the parleys between Nawaz and

ISLAMABAD: The government's plan to implement a uniform education system in Islamabad Capital Territory (ICT) is likely end in fiasco owing to educational managers' inability to win approval of the required funds.
The uniform education system as well as upgrade of the teachers of the capital territory was announced by Prime Minister Syed Yousuf Raza Gilani on the international teachers' day two months back. Gilani, while addressing a function to mark the day, announced a

OTTAWA: Canada and the European Union are on track towards signing a free trade agreement by the end of 2011, trade representatives said Wednesday. After "taking stock of progress" made to date, Canadian Trade Minister Peter Van Loan and EU Trade Commissioner Karel De Gucht said that they were "satisfied with the substantial progress that has been made in the negotiations."
Official talks for a Comprehensive Economic and Trade Agreement between Canada and the EU were launched in

LAHORE: The Pakistan Business and Investment conference, comprising of over 140 delegates from Pakistan, is being held in Dubai on December 13. The delegates would meet a similar number of UAE based investors and traders for matchmaking and finalising agreements of mutual interest.
The Punjab Board of Investment and Trade (PBIT) Chief Executive Officer Saadat Muzaffar, while providing details in this regard, informed that the Punjab Chief Minister Shahbaz Sharif is leading a CEO

ISLAMABAD: The devolution of five federal ministries - Local Government, Zakat and Ushr, Youth Affairs, Population Welfare and Special Initiatives - to the provinces has left the bereaved ministers in utter desperation, as most of them see no imminent chance for a re-induction into the federal cabinet.
Of the five ministers, Firdous Ashiq Awan is lucky to have clinched another important ministry, Women Development, which is not included in the list of the ministries being