China’s Leading Hotel Management Conglomerate Wanda Hotels & Resorts Opens Wanda Vista Istanbul in Turkey, Its First Internationally Managed Hotel

BEIJING, Oct. 1, 2021 /PRNewswire/ — Wanda Hotels & Resorts is to open its first internationally managed hotel – Wanda Vista Istanbul – on October 1 in Turkey, marking an important milestone of group’s offshore management. Close to Istanbul Airport, the Wanda Vista Istanbul, with 127 luxury guestrooms and 320 fully-equipped service apartments co-designed by Philippe Starck and Wanda Hotel DesiRead More…

Sindh Government appealed to refrain KDA from cancelling allotment letters of Mehran Town

Karachi, October 01, 2021 (PPI-OT): While expressing deep concerns over an announcement made by Karachi Development Authority (KDA) to cancel all the allotment letters of residential plots including commercial and industrial in Mehran Town, President Karachi Chamber of Commerce and Industry (KCCI) Muhammad Idrees has appealed the Sindh Government to refrain KDA from cancelling the allotment letter as it was purely anRead More…

Shaukat Tarin meets KCCI’s delegation, announces 15 days extension in IT Returns

Karachi, October 01, 2021 (PPI-OT): After listening to the problems being faced by taxpayers in filing income tax returns, which were highlighted by a delegation of Karachi Chamber of Commerce and Industry at a meeting held in Islamabad on Thursday, the Federal Minister for Finance and Revenue (FBR) Shaukat Tarin announced to extend the last date for filing income tax returns by 15 days till October 15, 2021. KCCI deRead More…

KCCI boycotts NEPRA’s Public Hearing on September 29th and 30th

Karachi, October 01, 2021 (PPI-OT): The Karachi Chamber of Commerce and Industry (KCCI) has announced to boycott the Public Hearings being organized by National Electric Power Regulatory Authority (NEPRA) on September 29th and 30th, 2021 as it has been observed that the regulator has not been providing the adequate opportunity to share opinion and give suggestions neither to KCCI nor to majority of interveners. PresiRead More…

PACRA Maintains Entity Ratings of Popular Sugar Mills Limited

Lahore, October 01, 2021 (PPI-OT): Pakistan’s sugar industry is the country’s 2nd largest agro-based industry, comprising 90 mills with an annual crushing capacity estimated ~65-70mln MT. The industry is trying to overcome the supply challenges. However, support price, set by considering the cost incurred by farmers, remains a constraint. During MY21, the overall sugar production increased by 15%, YoY, to 5.6Read More…

PACRA Maintains Entity Ratings of PakGen Power Limited

Lahore, October 01, 2021 (PPI-OT): The ratings reflect the regulated structure of Pakgen Power Limited (Pakgen Power) business; whereby revenues and cash flows are guaranteed by the sovereign government given adherence to agreed operational parameters. A risk of any decrease in efficiency factor against required benchmark would be borne by the Company itself given the fact, Pakgen Power is managing its operations andRead More…

PACRA Maintains Entity Ratings of Lalpir Power Limited

Lahore, October 01, 2021 (PPI-OT): The ratings reflect the regulated structure of Lalpir Power Limited (Lalpir Power) business; whereby revenues and cash flows are guaranteed by the sovereign government given adherence to agreed operational parameters. A risk of any decrease in efficiency factor against required benchmark would be borne by the Company itself given the fact, Lalpir Power is managing its operations andRead More…

PACRA Maintains Entity Ratings of Thardeep Microfinance Foundation

Lahore, October 01, 2021 (PPI-OT): Thardeep Microfinance Foundation (‘Thardeep’ or the ‘Foundation’) is a Microfinance Institution (MFI) governed by the Securities and Exchange Commission of Pakistan under Section 42 of the Companies Ordinance, 1984 (now Companies Act, 2017). The Foundation is licensed to operate under NBFC (Establishment and Regulations) Rules, 2003, Non-Banking Finance CompaRead More…

PACRA Maintains Entity Ratings of Liberty Power Tech Limited

Lahore, October 01, 2021 (PPI-OT): Liberty Power Limited (Liberty Power Tech) runs a 200MW power plant based on Residual Fuel Oil. The Company operates in the regulated power sector. It enjoys a sovereign guarantee against receivables from power purchaser CPPA-G given adherence to agreed performance benchmarks. The Company’s operations and maintenance operator, Wartsila Pakistan (WPK), is a key source of comforRead More…

PACRA Maintains Entity Ratings of Noon Sugar Mills Limited

Lahore, October 01, 2021 (PPI-OT): Pakistan’s sugar industry is the country’s 2nd largest agro-based industry, comprising 90 mills with an annual crushing capacity estimated ~65-70mln MT. The industry is trying to overcome the supply challenges. However, support price, set by considering the cost incurred by farmers, remains a constraint. During MY21, the overall sugar production increased by 15%, YoY, to 5.6Read More…