Wafaa Ismail 60 a housewife from the southern Lebanese village of Zawtar More to come Israeli military spokesman Rear Admiral Daniel Hagari told people in Lebanon to avoid potential targets linked to Hezbollah as strikes would go on for the near future Hagari said Israel s military will engage in [more] extensive and precise strikes against terror targets which have been embedded widely throughout Lebanon” He told civilians to “immediately move out of harm’s way for their own safety”
The strikes sent hundreds of people fleeing their homes according to Bilal Kachmar an official in Tyre
Justice Mansoor Ali Shah voices strong objections to Practice, Procedure ordinance
ISLAMABAD S TA F F
R T Supreme Court senior puisne judge Justice Syed Mansoor Ali Shah has voiced strong objections to the recent amendments to the Supreme Court s Practice and Procedure Ordinance, outlining his reservations in a detailed three-page letter
The letter addressed to the reconstituted committee on Monday criticises both the substance of the amendments and the process by which they were implemented
The PML-N led government had further empowered Chief Justice of Pakistan Qazi Faez Isa to form benches and fix high profile cases by nominating judge of his choice through amendments to the Supreme Court Practice and Procedure Act 2023 on Friday Soon after the promulgation of the ordinance on amendments in the Practice and Procedure Act 2023
CJP Isa reconstituted a committee wherein Justice Aminuddin Khan has been included as a third member by ousting Justice Munib Akhtar
Justice Aminuddin Khan is the fifth most senior judge of the SC Interestingly Justice Yahya Afridi who is the fourth most senior has not been included in the committee
Justice Shah began by expressing alarm at the hasty reconstitu-
[ ] such as unlawfully denying the recognition of a major political party and treating its nominated candidates as independents, they not only compromise the rights of these candidates but also significantly infringe upon the rights of the electorate and corrode their own institutional legitimacy The importance of free and fair elec-
tion of the Practice and Procedure Committee, which took place just hours after the amending ordinance was promulgated
He highlighted the lack of transparency in the removal of Justice Munib Akhtar from the committee, stating, “No reasons were given as to why the second seniormost judge Justice Munib Akhtar was removed from the composition of the Committee who had been attending all the meetings since March 11, 2024, and was available for attending today’s meeting ”
The justice further criticised the arbitrary inclusion of a less senior judge in the committee describing it as unfortunate cherry-picking that undermines democratic principles This selective inclusion of committee members reflects an undemocratic and one-man show approach precisely what the Act aimed to discourage and replace Justice Shah noted referencing the Supreme Court s previous stance against such practices Justice Shah underscored the importance of collegial decisionmaking within the judiciary a principle that he argued has been compromised by the recent changes The principle of collegial working stands as a cornerstone for ensuring justice, fairness, and the larger good of the people
who seek its intervention
The concentration of ultimate administrative powers in the hands of a single individual such as the Chief Justice runs counter to the ideals of democratic governance and judicial fairness, he wrote, citing the Supreme Court’s own ruling in the Raja Amer case
He also questioned the necessity of the ordinance s promulgation without parliamentary debate suggesting it lacked the urgency required for such a measure The constitutional conditionality of the very act of promulgating the amending Ordinance also requires judicial determination as no urgency has been spelled out that necessitated its promulgation instead of a proper amending enactment through the Act of Parliament,” Justice Shah pointed out In his letter Justice Shah called for a full court meeting to review the ordinance stating Independence transparency and collegiality required the Hon ble Chief Justice to raise an immediate alarm and concern on the promulgation of the amending Ordinance in the light of the Court s celebrated pronouncement in Raja Amer He warned that any decisions made by the reconstituted committee could undermine the court s credibility and violate the Full Court Bench’s decision
tions in a democracy cannot be overstated The judiciary s role in ensuring electoral integrity and upholding the will of the people is essential for sustaining public trust in the democratic process,” the order read The SC asserted that the “court’s power to do ‘complete justice’ is a critical tool in preventing democratic backsliding and protecting democracy effectively
The eight-judge order also expressed some doubts about whether the Commission has the power to reject the certificate of intra-party elections submitted by a political party under Section 209 and whether the Commission exercised its discretion under Section 215(5) justly fairly and reasonably in PTI s case, adding fundamental right of citizens to vote for the political party of their choice was at stake” “Similarly we have certain reservations about how the matter of intraparty elections a matter of internal governance of party can trump the fundamental rights of citi-
zens to vote and of political parties to effectively participate in and contest elections through obtaining a common symbol for their candidates, guaranteed under Articles 17(2) and 19 of the Constitution
“However since these questions are sub judice in the review petition filed by PTI against this Court s judgment dated 13 January 2024 we abstain from examining and expressing our definitive view on them, the verdict said, referring to the SC ruling denying the PTI its party symbol
The verdict stated that Justice Mazhar wished to “make
PAKISTAN PREPARES OVER 70 PROJECTS FOR CHINA’S COOPERATION IN CPEC PHASE II
R isk of complete shutdown in Tal Block ’s oil and gas produc tion, MOL Pakistan warns
contributor to Pakistan’s energy resources is facing critical challenges due to high network pressure in Sui company s system, which has already led to the curtailment of production In a formal letter, a copy of which is available with Profit, addressed to Abdul Rasheed Jokhio Director General (Gas) of the Ministry of Energy s Petroleum Division Ali Murtaza Abbas Regional Vice President of MOL Pakistan highlighted the severity of the situation The letter, dated September 3, 2024, explained that MOL Pakistan’s production facilities including Central Processing Facility (CPF) Manzalai Gas Processing Facility (MGPF) and Tolanj Processing Facility (TPF) have been significantly impacted since August 28, 2024 The facilities have experienced a forced reduction of 110 million standard cubic feet per day (MMscfd) of gas due to the elevated network pressure reaching around 1 250 pounds per square inch gauge (Psig)
This persistent issue has forced the closure of critical wells, raising concerns about permanent production loss “Frequent shutdowns of critical wells may lead to a complete loss of production Abbas warned in his letter The situation has worsened as some wells in the Tal Block, already in their mature stages, have experienced liquid loading and productivity declines during these forced curtailments earlier this year These issues have severely affected production levels and in some cases caused reservoir damage MOL Pakistan further warned that if this situation persists, the country could face irreversible damage to its oil and gas reserves Prolonged exposure to extreme pressure could also result in mechanical breakdowns further disrupting the supply of sales gas from the
Tal Block Any such disruptions could have far-reaching consequences, as the Tal Block is a major source of hydrocarbons for Pakistan’s energy sector Regional VP MOL Group urged the Petroleum Division to take immediate action to normalize the situation and prevent a potential shutdown of oil and gas production “We request your urgent intervention in addressing this critical issue affecting hydrocarbon production from the Tal Block he stated This dire warning from MOL Pakistan comes at a time when Pakistan is already grappling with energy shortages and high LNG import costs If the production from Tal Block comes to a halt the country’s energy crisis could worsen leaving the government with limited options to meet rising demand during the winter months
WALL STREET INCHES HIGHER AS INVESTORS
MONITOR FED COMMENTS, FACTORY ACTIVIT
Tajikistan to
UK trade commissioner meets Jam K amal, disc usses bilateral ties
Speaker NA declares KSA an emblem of strength, progress worldwide
ISLAMABAD
I N P Speaker National Assembly, Sardar Ayaz Sadiq on Monday declared the Kingdom of Saudi Arabia an emblem of strength and progress worldwide The Speaker NA in a statement on the 94th National Day of the Kingdom of Saudi Arabia said that on this joyous occasion he on behalf of the National
I N P Commercial legal services platform has been established to support China-Pakistan Business -to-Business B2B cooperation The new step was marked with the inauguration of "Belt and Road" International Commercial Legal Services Demonstration Zone in Xi an A Pakistani delegation led by the China-Pakistan International Business Alliance participated in the signing ceremony, acknowledging the platform's role in providing critical legal protections and bolstering legal services for industrial cooperation under the second phase of the China-Pakistan Economic Corridor (CPEC) The newly established legal services zone is expected to address complexities arising from the different legal systems of China and Pakistan Gwadar Pro reported on Monday While Pak-
istan operates under a legal framework rooted in common law traditions, influenced by European and American systems China follows a civil law system
The presence of an international commercial legal services platform will facilitate dispute resolution and ensure smoother business transactions
Mr Wang Yongxin, President of China-Pakistan International Business Alliance introduced that the platform will not only serve Chinese companies operating in Pakistan but also provide legal assistance to Pakistani enterprises in China "Previously, Pakistan and China lacked a unified standard for legal disputes making it difficult to resolve conflicts that arise from differences in legal practices for example different quality inspection systems explained Dr Muhammad Shahbaz, member of the Pakistani delegation
The new platform aims to fill this gap by providing arbitration and medi-
ation services accepted by both countries, ensuring that disputes, particularly in trade and export contracts can be resolved efficiently It is learned that a team of lawyers has been put in place to provide legal services in both countries under the to-be-established commercial legal committee
“With major cities such as Islamabad Karachi and Lahore being covered the platform will foster a more conducive investment environment in Pakistan by mitigating risks and providing legal assurances for Chinese companies participating in CPEC projects Pakistani enterprises operating in China will also benefit from the platform’s services enabling them to navigate China s legal framework with greater confidence said Mr Wang Yongxin The demonstration zone will also attract international law firms, making Xi'an a hub for global legal services
COMMENT
Elite capture
SI N C E 1913, the Punjab Government has billed the Lahore Gymkhana Club for a total amount of Rs 2 lakh, 60 thousand, and 800 rupees And the club has not paid all of this either according to the government
The revelation was made in a recent article published by this paper ’s sister publication Profit The article points mainly towards the current agreement that the club has with Lahore s district administration, whereby it pays a monthly rent of Rs 417 or Rs 5000 a year for the use of 117 acres of land that is the property of the Punjab Government
This is by no means a good look The Lahore Gymkhana is one of the many colonial era private clubs that are housed on public land In most of these cases, the British had given the land for these clubs at token rates so that their officers could enjoy leisure time at these institutions It was a way for The Raj to boost morale and maintain a kind of social control over the local populations Even in the case of Lahore Gymkhana, the first agreement to use government land for the club was made with the district administration in 1913 at a rate of Rs 1600 a year
Now, the government often allows the use of its land at token rates for uses that are in the public good This act of public good could be building a school a public access sports ground or a hospital But what public good does an elite golf club with hereditary membership serve today?
This has in recent days become an issue taken up in the Punjab Assembly where one lawmaker pointed to an estimate that the commercial rent value of the 117 acres used by the club is Rs 30 crores a month A special committee has also been constituted to evaluate the status quo But will the assembly, which we know for a fact contains more than a few members of the club, manage to do anything about it?
During Monday’s session Speaker Malik Mohammad Ahmad read out Profit s article on the issue, and asked for copies to be distributed among the members He said that the article was posing a challenge to the committee and it was up to them now to prove they could right this wrong The speaker ’s acknowledgement is appreciated, and one can only hope that the members of the committee will take the task with the seriousness it requires
M A Niazi Editor Pakistan Today Babar Nizami
DU R I N G his last debate with Kamala Harris, Donald Trump made two fundamental mistakes First, his tirade against the Russia-Ukraine war lacked depth and coherence Second his venomous rhetoric against immigrants failed to distinguish between legal and illegal immigration His positions on both critical issues were shallow, unsupported by evidence, and lacked cogent arguments His poor articulation of these topics further highlighted his ignorance, which may severely damage his chances of retaining the presidency of one of the world s most powerful nations the United States of America
Moreover Trump appeared unaware of the significant impact immigrant voters can have on the election Immigrants can either swing the vote in his favor, shift it towards Kamala Harris, or choose not to vote at all His alienation of this crucial demographic could prove to be a critical miscalculation in the upcoming election
Currently I am staying in Macomb Michigan where the sentiment among immigrants both new and longstanding, is largely negative towards Trump This hostility has intensified, especially after hearing his inflammatory and offensive remarks, where he labeled all immigrants as “dog and cat eaters ” These derogatory comments have deeply alienated the immigrant community here The demographic of Michigan state is very interesting Out of the total population of 10 million the black and immigrants make up 25% of the population The immigrant population in the U S , especially in key swing states like Michigan is growing and becoming a more politically active and decisive voting bloc Immigrant communities from South Asia Latin America the Middle East and East Asia are playing an increasingly prominent role in elections Trump s anti-immigrant policies, such as the Muslim travel ban, his derogatory rhetoric about Mexican immigrants, and his hardline stance on border security have alienated many immigrant and minority groups These voters view Trump as a threat to their communities families and values which was reflected in increased minority voter turnout against him in 2020 This alienation is likely to persist, if not intensify, in the upcoming election Kamala Harris, as a woman of South Asian and Jamaican descent holds particular significance for immigrant communities Her nomination and vice presidency represent a historic milestone in the U S political landscape and her background could galvanize South Asian, African-American, and CaribbeanAmerican voters Harris s candidacy could act as a rallying point for immigrant and minority voters, par-
Trump’s Achilles’ Heel: Immigrant voters
ticularly those who see her as an advocate for civil rights immigration reform and inclusive policies In Michigan immigrant and minority voters are concentrated in urban areas like Detroit Dearborn and Ann Arbor Arab-American voters, particularly from the Lebanese, Syrian, and Yemeni communities in Dearborn, have historically played a decisive role in local and national elections Similarly, the South Asian population in suburban Detroit is growing and becoming more politically engaged Given the state s narrow margins in recent elections the mobilization of immigrant voters could be crucial In 2020, Joe Biden won Michigan by around 154,000 votes Immigrant and minority voters, particularly in urban centers, contributed significantly to this victory If the Democratic Party can further energize these communities particularly through the candidacy of Kamala Harris it could more than compensate for any losses among the white working-class voters Trump retains In Michigan in particular and across the USA in general, the white vote is no longer a monolithic bloc Trump continues to enjoy strong support among white working-class voters particularly those without a college degree due to his populist message on trade and immigration However college-educated whites particularly in suburban areas are increasingly turning away from Trump s more extreme positions on race, immigration, and governance Applying the
address this issue by
and
IDr imraN KhaLiD
The writer is a freelance columnist N e w c h a l l e n g e s f o r A m e r i c a n e c o n o m y a f t e r F e d r a t e c u t
serious economic complications Reduced consumer spending lower economic growth and higher financial stresses on households can collectively be the consequence when unemployment rises The problem with lower rates is that while they can encourage the creation of jobs, they also may give rise to inflationary pressures if the economy overheats A key dilemma facing the Fed is balancing its dual mandate of championing full employment and price stability A second major problem that has been holding back the US economy is the lack of skilled workers Despite the overall weakening of the labor market, certain sectors will continue to experience
Lower borrowing costs can make
for individuals to finance their education, potentially increasing the supply of skilled labor over time By having cheaper credit available, businesses may also be more inclined to provide educational opportunities for their workers Furthermore there is another worry that the price impact of low rates would inflate asset bubbles as investors chase yield in riskier assets This could lead to a financial instability in the case that the prices of assets are decoupled from their fundamentals Although the Fed has gained confidence that inflation is moving sustainably toward its 2% target There is always a risk that lower rates could lead to higher inflation if demand outstrips supply The Fed will need to closely monitor economic indicators and be prepared to adjust its policy if inflationary pressures emerge The Fed’s ability to balance its dual mandate of promoting maximum employment and maintaining price stability will be crucial The rate cut is a significant step but it is only one part of a broader strategy needed to ensure sustainable economic growth
Mobile wallet fraud
Qamar Bashir
The Baluchistan crisis
In response to these developments the Pakistani government which has historically employed a heavy-handed approach to managing the Baluchistan issue, swiftly convened an emergency meeting of the top national security committee
TH E recent escalation in terrorism within Pakistan has cast significant doubts on the efficacy of the state s security measures, especially as the country embarks on one of its most costly counter-terrorism initiatives to date Operation Azm-e-Istekham (Resolve for Stability)
This operation is designed to restore stability in regions plagued by insurgency and terrorism However recent events in Baluchistan, the most volatile and conflictridden region of Pakistan, have starkly highlighted the limitations and challenges of this approach Last week Baluchistan was the epicenter of a series of meticulously coordinated violent attacks that resulted in the deaths of over 70 individuals and caused extensive damage to critical infrastructure The Baloch Liberation Army (BLA), an ethnic separatist group that has been engaged in a protracted insurgency against the state for over a decade claimed these attacks
The BLA s recent actions have not only caused immediate harm but have also sent a powerful message about their growing capability and reach The emergence of videos online showing convoys of BLA militants openly brandishing weapons and moving unchallenged through various parts of Baluchistan s westernmost province where they were seen celebrating with locals has further exacerbated concerns about the state s ability to maintain control These images, combined with the insurgents increasing success in closing roads and extending their influence into urban areas have created a widespread perception that the state is gradually losing its grip on the province
This perception of declining state control is deeply troubling and raises questions about the future stability of Baluchistan and, by extension, Pakistan
During this meeting, the government reiterated its commitment to forcefully suppressing those who threaten the region s peace and stability The military has already initiated intelligence-based retaliatory operations, aimed at targeting the insurgents with precision Additionally, the government has pledged billions of rupees to enhance the counterterrorism capabilities of law enforcement agencies
These measures however are not without their complications For the first time the federal government has publicly acknowledged a critical shortage of appointed personnel, which is severely hampering its counterterrorism efforts In an unexpected and controversial move the government has decided to depute officials from other provinces particularly Punjab to take up posts in Baluchistan This decision has sparked fierce criticism and is widely viewed as an attempt to marginalize the local Baloch population by denying them the governance and policing of their own province The federal government’s recent actions have added to the already numerous grievances harbored by the Baloch population against state security agencies The government s handling of Baluchistan s natural resources has also been a point of contention The Baloch population has repeatedly accused the government of exploiting the province’s resources while failing to provide adequate local employment opportunities particularly in the context of the multibillion-dollar China-Pakistan Economic Corridor (CPEC) project This project, which is a cornerstone of Pakistan s economic strategy, has been marred by alle-
gations of corruption and mismanagement, further fueling local discontent In a recent escalation of tensions a Baloch human rights group organized region-wide protests effectively blocking access to Gwadar city s Chinese-operated deep-sea port These protests, which have garnered significant attention, are seen as a direct challenge to the government’s authority and a demand for greater autonomy and rights for the Baloch people
The BLA s armed attacks appear to be coordinated with these ongoing protests aiming to pressure the government into addressing the longstanding grievances of the Baloch population The timing of these attacks and protests is particularly significant as Pakistan prepares to host a crucial Shanghai Cooperation Organization (SCO) summit in October
The civil-military regime has characterized the recent wave of insurgency as an attempt by hostile foreign elements to sabotage the upcoming summit and has described the protesters as proxies for terrorists labeling them as the political wing of the Baloch separatist militants
The government’s conflation of non-violent protests with armed militancy has exacerbated the situation and risks further alienating the Baloch population This lack of distinction between legitimate expressions of dissent and violent insurgency increases the likelihood of escalating violence in the region The BLA’s ability to exploit the genuine grievances of the Baloch people has helped legitimize its cause and expand its recruitment efforts Another critical factor in the strengthening of the BLA is the increasingly active participation of women in their ranks The recruitment of women as suicide bombers is a stark indication of how deeply the BLA’s cause has permeated the province’s society This development also reflects the militants’ growing ability to mobilize and radicalize a broader segment of the population including women and youth In a province where 65% of the population is under the age of 30, the many frustrated, unemployed Baloch youth are prime recruits for the BLA The involvement of women in the insurgency marks a significant and troubling evolution in the conflict suggesting that the BLA s influence is expanding and
The current policies being implemented in Baluchistan are not only unwise but also potentially dangerous They threaten the integrity of the Pakistani state and are unlikely to bring the desired stability, security and development to the province If the government continues on its present course, the situation in Baluchistan could deteriorate fur ther, with potentially catastrophic consequences for Pakistan as a whole . The need for a more nuanced and comprehensive approach to the Baluchistan issue cannot be overstated.
T h e n e w m e d i a b a r o n s
world s first and longest-running Sunday newspaper is now in doubt, however Tortoise Media has approached the Guardian Media Group with an offer to buy the Observer In recent weeks, two of Britain’s oldest publications have been sold – or are being prepared for sale – to two of its newest media com-
United States, with the sale of Time magazine to the Salesforce co-founder Mark Benioff and Jeff Bezos’s purchase of the Washington Post) some of the world s richest people are remaking themselves as press barons Will the new media moguls save Britain s oldest publications – or change them
The media has long been a difficult business in which to make money, and its proprietors have often valued the political and cultural power of a publication over its revenues
In recent weeks, t wo of Britain’s oldest publications have been sold – or are being prepared for sale – to t wo of its newest media companies
fully) in the 1987 general election He split from the party over Europe however and donated £100 000 to the Leave campaign More recently he has spent heavily in those parts of the British media that reflect his strongly held – and to some, controversial – values As we know, he has invested into GB News, whose flagship presenter is Nigel Farage; he owns the political comment website UnHerd; and in the Spectator he has acquired a weekly magazine of politics and culture considered the right s foil to the New Statesman Lansdowne Partners, meanwhile, was the biggest investor in the most recent funding round for the slow news” organisation Tortoise Media, now in talks to buy the Observer (Lansdowne is the third largest shareholder behind the Tortoise CEO James Harding and the Canadian media tycoon David Thompson) Tortoise s editorial line is perhaps best described as progressive and analytical: it has been successful in delivering high-profile investigations but refrains from the spiky comment in which UnHerd specialises This approach has helped it to grow its podcasts and newsletters, at a steady pace
Both buyers have come with the promise of investment Marshall has said he will prioritise investing in journalism talent and the latest technology while Tortoise Media has committed to putting £25m into the Observer over the next five years, on top of the paper s running costs Neither acquisition has passed smoothly, however Last year Redbird IMI an investment vehicle backed by the vice-president of the United Arab Emirates Mansour bin Zayed Al Nahyan attempted to acquire the Telegraph Media Group to which the Spectator belonged Former chancellors George Osborne and Nadhim Zahawi both advised the Emiratis in their bid But in March, following campaigning by the Telegraph and Spectator against the deal the Conservatives brought a law banning foreign states from owning direct stakes in British newspapers The United Arab Emirates was forced to abandon its bid And now the Spectator has been sold in isolation from the Daily Telegraph and the Sunday Telegraph Rumour has it that Marshall is still in the market for the Spectator ’s sister titles An hour after the deal was completed, Andrew Neil who had been the Spectator ’s chairman since 2008 resigned in a letter in which he appeared to question the new owner s reverence for editorial independence ; Neil had been the chair of Marshall-backed GB News at launch but left after just eight months, having differed with managers and the board over the channel’s editorial direction At the Observer meanwhile it is the paper ’s workforce who are uncomfortable with the prospect of new ownership On Wednesday 18 September a meeting of 250 Guardian and Observer journalists convened by the group s union chapel voted unanimously to reject the putative sale to Tortoise Among the disputed elements is the fact that no one
As a new generation of media barons buys up some of the bastions of the legacy media, it is vital that we ask what these people really represent, and whether they will keep alive the industry that speaks truth
can say exactly how many people count as Observer employees because most if not all are on contracts with the Guardian Media Group It is thought that 70 journalists will be affected, and it is not hard to see why they are resistant to the idea of leaving a group backed by a £1 25bn asset pile, in which they are strongly unionised and receive some of the best worker protections and salaries in the industry The Guardian does not as a rule make compulsory redundancies A cynic might ask whether the plan to sell the Observer is at least partly a plan to off-roll – in the grim parlance of the HR department – a group of well-paid, longstanding employees The Observer has long been an awkward property for the Guardian Media Group however Every Saturday evening one of the world’s leading news websites abruptly changes character as pieces commissioned by another editor for another publication are published There is often duplication – the same film or book may be reviewed, or columnists may opine on the same news event This is not the first time the Guardian has attempted to decouple from the Observer which it acquired in 1993 from the businessman Tiny Rowland Fuhrhop In 2009 as global recession threatened print titles everywhere the Guardian looked to close or sell the paper but was rebuffed by a campaign led by Press Gazette
The Guardian s finances indicate an organisation that is moving away from the business of selling print newspapers in the UK Its most recent accounts show a rise in digital reader revenue which increased by £5 8m (or 7 6 per cent) from 2022 to 2023 while print reader revenue fell by £2 8m (or 3 9 per cent) and advertising declined by £2 4m (or 3 3 per cent) in the same year Revenues from the UK are falling and revenues from the US and Australasia are rising The company clearly sees its direction of travel as towards a reader-funded digital news organisation that has its origins in the UK but is not limited to this country The group s accounts also show sharply rising staff costs
Dr MuhaMMaD akraM Zaheer
TRUMP CONFIRMS HE WON’T RUN AGAIN IF HE LOSES NOVEMBER ELECTIONS
Ibrahim Hasan Murad Extends Hear tfelt Congratulations on S audi Arabia's National Day
Jubilee Life Insurance
Accelerates
Net Zero Transition with S pec treco
FEDERAL GOVT RAISES
OGDCL announces financial results for year ended June 30, 2024, achieving highest ever quarterly dividend in company’s history
ISLAMABAD S TA F F R E P O R T
The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on Monday September 23 2024 in Islamabad announced the financial results for the fiscal year ended June 30, 2024 OGDCL achieved net sales revenue of Rs 463 698 billion with a profit after tax of Rs 208 976 billion translating to earnings per share (EPS) of Rs 48 59 This strong financial performance reflects OGDCL s commitment to operational excellence amidst a challenging economic and energy environment
The Board of Directors announced a final cash dividend of Rs 4 00 per share (40%) for the year ended June 30 2024 This is in addition to the interim dividends of Rs 6 10 per share (61%) already paid to shareholders during the year No-
tably, the final quarterly dividend of Rs 4 00 per share is the highest quarterly dividend in the Company’s history bringing the total cumulative dividend payout to 101%
During the fiscal year OGDCL contributed Rs 218 billion to
leum gas (LPG) Without the production curtailments by SNGPL and UPL, crude oil production could have reached 33 495 BPD gas production 771 MMSCFD and LPG production 736 MTD reflecting potential increases of 1 107 BPD (3 1%), 7 MMSCFD (0 9%), and 16 MTD (2 2%), respectively, over last year ’s figures These efforts have played a key role in reversing the declining production trend seen over the past five years during which crude oil and gas output had dropped by 20% and 24 6%, respectively In addition to its operational successes, OGDCL made considerable progress in production optimization achieving annual savings of approximately Rs 34 billion in the form of import substitution The Board of Directors commended the management s efforts in driving the Company’s overall performance
day (MTD) of liquefied petro-
Qatar Emir’s Naval Ship Alkhor visits Karachi to par ticipate in bilateral exercise Asad al Bahr
ISLAMABAD S TA F F R E P O R T
Qatar Emiri Naval Ship (QENS) ALKHOR visited Karachi Upon arrival, the Ship was warmly welcomed by Pakistan Navy officers and sailors During the visit Commanding Officer of the QEN Ship paid homage at Mazar-e-Quaid He also called on Commander Pakistan Fleet Vice Admiral Faisal Abbasi During the meeting, he appreciated the efforts of the Pakistan Navy in promoting peace and security in the region Additionally matters of mutual interest and enhancing bilateral cooperation were discussed The Qatari Ship will participate in joint exercise Asad Al Bahr and bilateral training and discussions with PN counterparts during its stay at Karachi The significant visit of Qatari Ship not only underscores the strong diplomatic ties between both countries but also present an opportunity to further augment defense and bilateral relations
KU Mass Communication Students call on DG PR Sindh
Muhammad Saleem Khan has said that media management and public relationing is exoeriencing latest developments by every passing day and students of mass communication must adopt the same for enhancing their capabilities to be successful in their chosen field of mass communication This he said while addressing a 19- member delegation of students of
changes which has been led by emergence of electronic and now social media "These changes have enabled journalists to perform their duties with ease on one hand but had also created hardships for them on the other hand" ,he added While pointing out the changes during last 35 years in the working of Information Department the Director General said that in 1989 when he started service the news were typed on a huge
FIA SUBMITS SUPPLEMENTARY CHALL AN AGAINST PTI FOUNDER IN TOSHAKHANA CASE
extend congratulations to Dissanayake, seek enhanced relations
posed a threat to the integrity of the constitution
