Corporate updates

Telecard receives clearance from the PSX for book-building of Supernet

After getting the clearance for listing from the PSX last month, Telecard Limited (TELE) announced this Monday that it got the green light from the PSX to initiate the book-building process for the listing of its subsidiary, Supernet Limited (SNL), which is growing at a rapid pace. The process would take place on April 12 and 13 as per the regulatory filings. The company intends to raise Rs475 million from this IPO, and is to be the first IT company to be listed on the GEM board.

Mari Petroleum commenced its gas supply from Sachal Gas Processing Complex

Mari Petroleum Company Limited (MPCL) announced on monday that it had started off with the supply of gas from the Tipu compartment of its “Goru B” reservoir at Mari gas field. The company will initially supply 20 mmcfd of gas to Sui Northern Gas Pipelines Limited (SNGPL) and later extend the supply to export, vis-a-vis’ its newly built 25 km long cross country gas transmission pipeline.

Trade Information Portal of Pakistan (TIPP) goes live 

Government launches a portal that displays complete and up-to-date regulatory information related to imports, exports and transit trade for any product alongside the necessary statistical data for international trade. TIPP is a Single Window Project presented by Pakistan Single Window Company. The portal aims to provide Pakistan’s business community with quick and easy access to trade information vis-a-vis its regulations & procedures and to improve the predictability & transparency of Pakistan’s business environment.

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