24/7 News – What is Happening Around US

The Cabinet Committee on Privatization (CCOP) has started re-considering divestment of Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company Limited (OGDCL), official documents from a meeting showed. The move comes in wake of rising investor interest in the exploration and production sector. The decision to divest the two companies has been in the works for over a year, with the Federal Cabinet ratifying it in 2020. However, it has not been implemented so far due to economic factors and low valuation until now. However, the Petroleum Division has opposed the divestment of PPL and OGDCL shares, saying that…

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Crypto stocks continue to take big hits after China’s hard stance against the asset adds to recent Bitcoin price woes. Added to that, Tesla maverick Elon Musk’s sheepish tweets over the weekend caused all hell to break loose in the crypto streets, resulting in panic buyouts and switches to lower market caps. At the time of writing, the BTC has come crashing down to a humiliating 4-month low of US$39,500, plummeting 30% since hitting its all-time-high of $63,729 in April. ALSO READ I Have Been Hired as a Crypto Expert by KP Govt: Waqar Zaka The story was similar in…

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Pakistan is considering establishing a regulatory authority for food control to monitor rising inflation. According to the details, the government is considering different proposals on the models of the USA, UK, Australia, and India, one of which is the establishment of the Pakistan Food Authority (PFA). There is no food regulatory authority in Pakistan, presently, which is why the authorities are mulling over establishing PFA to have a single food market under one law. ALSO READ Restaurants Demand 24/7 Indoor/Outdoor Dining Currently, independent federal regulatory authorities govern and regulate different commodities and services in the country including drugs, electricity, oil,…

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Saudi authorities said on Tuesday that they are upholding permit conditions pertaining to COVID-19 for all the pilgrims that want to perform Umrah and Hajj. As per a statement issued by the Ministry of Hajj and Umrah, all the relaxations that had been allowed during the holy month of Ramadan have been discarded in consideration of the re-emergence of the COVID-19 situation in the SAARC and Gulf countries. ALSO READ Saudi Arabia Announces Its Decision on Hajj This Year The statement explained that only aspirants who have received either their first or second COVID-19 vaccinations will be allowed to perform…

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Former captain and current commentator, Ramiz Raja, believes that there is a lot of confusion in the Pakistan cricket team management which has hindered the progress of Babar Azam as captain. Raja said it is high time for Babar to step up and take charge of the team. ALSO READ Shoaib Akhtar Unhappy With Rizwan’s Role in Pakistan Team Raja believes that the current team management has not made the right selection choices, failing to establish the perfect playing XI for the limited-overs formats. Raja was highly critical of the team’s performance in white-ball cricket against Zimbabwe. The 58-year-old said…

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The government has announced new profit rates on the National Saving Schemes effective from 10 May 2021, according to a notification issued by the Ministry of Finance. The profit rate on the Shuhada Welfare Account and the pensioners benefit accounts has been revised to 11.04 percent per annum. ALSO READ LHC Dismisses Petition to Delay Discontinuation of Prize Bonds The monthly profit rate on the regular income certificates has also been revised — for certificates of Rs. 100,000 denomination, the monthly profit will be Rs. 720. Additionally, for a short-term saving certificate of the denomination Rs. 100,000, the profit will…

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