Latest news with #TCP
Business Recorder
5 days ago
- Business
- Business Recorder
IMF disagrees with Pakistan over key targets, subsidies ahead of budget
ISLAMABAD: The Finance Ministry said on Monday that the presentation of the Federal Budget 2025-26 has been delayed from June 2 to June 10 due to disagreements with the International Monetary Fund (IMF) over key budgetary figures, including subsidy allocations. During a session of the Sub-Committee of the National Assembly Standing Committee on Commerce, chaired by Khurshid Ahmed Junejo, Joint Secretary (Corporate Finance) Sajjad Azhar outlined the government's challenges in revising the budget figures. The Sub-Committee is currently working to resolve the issue of outstanding receivables owed to the Trading Corporation of Pakistan (TCP), which total approximately Rs 317.5 billion. Of this, Rs 93.693 billion is principal, while Rs 223.797 billion is accrued markup. Aurangzeb says IMF case approved 'on merit' despite disruption attempts 'As you know, Pakistan is under the IMF's Extended Fund Facility, which restricts any changes to the allocated funds in the budget,' Azhar told the sub-committee. 'The budget announcement has been delayed by a week because the Finance Ministry's figures are still under reconciliation. The IMF has placed a cap on subsidies,' he added. Azhar further noted that the IMF has declined to make any changes to the revised budget figures recently presented to the Fund's team. The Sub-Committee held a detailed discussion on the TCP receivables. Tensions flared during the meeting between Sajjad Azhar and TCP Chairman Syed Rafeo Bashir Shah over the calculation of markup and loans obtained from commercial banks. Chairman Shah maintained that TCP distributed imported wheat and urea in line with Economic Coordination Committee (ECC) directives, yet payments remain outstanding since 2010. In response, Azhar stated that the ECC never approved covering the markup costs through the federal government. He added that the Finance Ministry has held five meetings with relevant stakeholders to reconcile the dues. The State Bank of Pakistan (SBP) was also approached to persuade commercial banks to reduce markup rates. However, the SBP clarified that since the agreements are commercial, no relief could be extended. The National Assembly panel urged the Finance Division to increase subsidy allocations to enable partial payment to TCP. Azhar informed the committee that the Finance Ministry recently secured commercial loans for Pakistan International Airlines (PIA) without any discounts. Similar arrangements are being considered to manage circular debt, with borrowing pegged at the Karachi Interbank Offered Rate (KIBOR) minus 0.2 percent. A summary on this matter is being submitted to the federal cabinet. He also mentioned that the Punjab government has committed to paying Rs 26 billion, while the federal government will release an equivalent amount next fiscal year. Additionally, Rs 15 billion will be disbursed to TCP on behalf of the Utility Stores Corporation (USC) and National Fertilizer Marketing Limited (NFML) during the current fiscal year, pending release authorizations from the respective ministries. Another Rs 30 billion will be earmarked in the upcoming budget. A representative from NFML stated that all dues, including markup, were cleared during 2023-24, and no further payments are pending. After an in-depth discussion, the panel decided to release the undisputed amount of Rs 90 billion to TCP in the first phase. A mechanism will be developed to address the markup issue in the second phase. It was also decided that TCP will conduct a special audit of its commercial loans to identify any discrepancies. panel members Shaista Pervaiz Malik and Rana Atif raised various concerns regarding the markup and called for swift resolution of outstanding payments. Copyright Business Recorder, 2025
Business Recorder
6 days ago
- Business
- Business Recorder
IMF in disagreement over key targets, subsidies
ISLAMABAD: The Finance Ministry said on Monday that the presentation of the Federal Budget 2025-26 has been delayed from June 2 to June 10 due to disagreements with the International Monetary Fund (IMF) over key budgetary figures, including subsidy allocations. During a session of the Sub-Committee of the National Assembly Standing Committee on Commerce, chaired by Khurshid Ahmed Junejo, Joint Secretary (Corporate Finance) Sajjad Azhar outlined the government's challenges in revising the budget figures. The Sub-Committee is currently working to resolve the issue of outstanding receivables owed to the Trading Corporation of Pakistan (TCP), which total approximately Rs 317.5 billion. Of this, Rs 93.693 billion is principal, while Rs 223.797 billion is accrued markup. Aurangzeb says IMF case approved 'on merit' despite disruption attempts 'As you know, Pakistan is under the IMF's Extended Fund Facility, which restricts any changes to the allocated funds in the budget,' Azhar told the sub-committee. 'The budget announcement has been delayed by a week because the Finance Ministry's figures are still under reconciliation. The IMF has placed a cap on subsidies,' he added. Azhar further noted that the IMF has declined to make any changes to the revised budget figures recently presented to the Fund's team. The Sub-Committee held a detailed discussion on the TCP receivables. Tensions flared during the meeting between Sajjad Azhar and TCP Chairman Syed Rafeo Bashir Shah over the calculation of markup and loans obtained from commercial banks. Chairman Shah maintained that TCP distributed imported wheat and urea in line with Economic Coordination Committee (ECC) directives, yet payments remain outstanding since 2010. In response, Azhar stated that the ECC never approved covering the markup costs through the federal government. He added that the Finance Ministry has held five meetings with relevant stakeholders to reconcile the dues. The State Bank of Pakistan (SBP) was also approached to persuade commercial banks to reduce markup rates. However, the SBP clarified that since the agreements are commercial, no relief could be extended. The National Assembly panel urged the Finance Division to increase subsidy allocations to enable partial payment to TCP. Azhar informed the committee that the Finance Ministry recently secured commercial loans for Pakistan International Airlines (PIA) without any discounts. Similar arrangements are being considered to manage circular debt, with borrowing pegged at the Karachi Interbank Offered Rate (KIBOR) minus 0.2 percent. A summary on this matter is being submitted to the federal cabinet. He also mentioned that the Punjab government has committed to paying Rs 26 billion, while the federal government will release an equivalent amount next fiscal year. Additionally, Rs 15 billion will be disbursed to TCP on behalf of the Utility Stores Corporation (USC) and National Fertilizer Marketing Limited (NFML) during the current fiscal year, pending release authorizations from the respective ministries. Another Rs 30 billion will be earmarked in the upcoming budget. A representative from NFML stated that all dues, including markup, were cleared during 2023-24, and no further payments are pending. After an in-depth discussion, the panel decided to release the undisputed amount of Rs 90 billion to TCP in the first phase. A mechanism will be developed to address the markup issue in the second phase. It was also decided that TCP will conduct a special audit of its commercial loans to identify any discrepancies. panel members Shaista Pervaiz Malik and Rana Atif raised various concerns regarding the markup and called for swift resolution of outstanding payments. Copyright Business Recorder, 2025
Arabian Post
6 days ago
- Arabian Post
Webclei Emerges as a Game-Changer in Free Web Security Scanning
Webclei, a free online web vulnerability scanner, is gaining traction among cybersecurity professionals and developers for its robust capabilities in identifying security flaws in websites and web applications. Unlike many free tools that offer limited functionality, Webclei provides comprehensive scanning features typically found in premium solutions. At its core, Webclei operates on a template-based system written in YAML, allowing it to systematically test websites against a wide array of known security issues. These templates are community-maintained and regularly updated, ensuring the scanner remains effective against emerging threats. The tool supports multiple protocols, including HTTP, DNS, and TCP, making it versatile for various security testing scenarios. One of Webclei's standout features is its concurrent execution capability, enabling it to perform multiple checks simultaneously. This optimization significantly reduces scanning time without compromising accuracy. Users can initiate a scan by simply entering their website URL, selecting specific template categories if desired, and choosing the severity levels of vulnerabilities they wish to detect. The scanner then provides detailed results, categorizing findings by severity—Critical, High, Medium, Low, and Informational. ADVERTISEMENT In practical applications, Webclei has demonstrated its efficacy. For instance, a scan conducted on a government website revealed 31 vulnerabilities, including six medium-severity issues and 25 informational findings. Notably, the scan identified several Roundcube log disclosure vulnerabilities, which could potentially expose sensitive email server information, and missing security headers, highlighting areas for security enhancement. Webclei excels in detecting a range of common vulnerabilities, such as missing security headers, SSL/TLS configuration issues, information disclosure, cross-site scripting , SQL injection flaws, and server misconfigurations. Its ability to identify these issues makes it a valuable tool for website owners seeking to bolster their security posture without incurring significant costs. While Webclei offers substantial benefits, users must exercise caution and adhere to legal and ethical standards. The tool should only be used to scan websites that the user owns or has explicit permission to test. Unauthorized scanning of third-party websites can lead to legal repercussions. Additionally, users are advised to respect rate limits to avoid overwhelming servers and to follow responsible disclosure practices when vulnerabilities are discovered. In comparison to other vulnerability scanners, Webclei holds its own. Paid solutions like Nessus or Qualys offer more extensive features but may be excessive for small to medium-sized websites. Other free tools, such as OWASP ZAP, require installation and a certain level of technical knowledge, whereas Webclei operates directly in the browser with no setup required. Manual security testing, while thorough, is time-consuming, and Webclei automates much of this process, allowing users to focus on more complex security analyses. For users seeking to integrate Webclei into their security workflows, the tool offers advanced techniques, including template filtering to focus on specific vulnerability types, custom severity filtering, and regular monitoring to catch new vulnerabilities as websites evolve. By incorporating Webclei into development and deployment processes, organizations can proactively identify and address security issues, enhancing their overall cybersecurity resilience.
The Sun
23-05-2025
- Automotive
- The Sun
Proton to launch integrated tyre services
Proton is set to introduce integrated tyre services at selected authorised service centres across Malaysia following a strategic collaboration with Continental Malaysia. The move reflects Proton's ongoing commitment to enhancing customer convenience and delivering a more seamless vehicle ownership experience. Through this partnership, Proton service centres will be transformed into comprehensive one-stop hubs, offering tyre sales, professional installation, and after-sales support. These services will be delivered in cooperation with Continental Malaysia, one of the world's leading tyre manufacturers. By the end of December 2025, the company expects to roll out these offerings at 60 outlets nationwide, covering owners of all current Proton models. As part of this initiative, customers will be able to purchase and install new tyres during routine maintenance appointments. Prices will begin at RM211 per unit for models such as the Proton Saga. All tyres offered will be newly manufactured to ensure maximum safety, reliability, and performance, with installation carried out by Proton-certified technicians to uphold consistent service standards. The tyre service will also include Continental Malaysia's Total Confidence Plan (TCP), a one-year road hazard warranty that provides a one-to-one replacement in the event of unexpected damage. For added affordability, customers will have access to flexible financing solutions via Direct Lending, enabling tyre purchases through manageable monthly instalments. The introduction of tyre services comes as Proton continues to elevate its after-sales capabilities, striving to become the benchmark among original equipment manufacturers (OEMs) in Malaysia. With an extensive network of 3S and 4S centres, professionally trained service personnel, and strategically located parts warehouses for rapid spares distribution, Proton has been reshaping the ownership journey for its customers. Among the brand's other key after-sales offerings are the FS90 Fast Service, which guarantees basic servicing within 90 minutes from check-in to key return; the ProCare Smart Plan (PSP), a maintenance programme offering savings with flexible payment options; and the MyProton App, which streamlines service bookings and provides real-time vehicle updates. In addition, Proton provides a Digital Owner's Manual, comprehensive Body & Paint (B&P) services, and the Proton Insurance Programme (PIP), which offers specialised accident repair and insurance solutions using genuine parts and expert technicians. Roslan Abdullah, Chief Executive Officer of Proton Edar, stated that while recent headlines have largely centred on the company's robust sales performance and new model introductions, Proton has also been investing heavily in upgrading its after-sales service. The introduction of tyre replacement marks the next phase in the transformation of its service centres into fully integrated one-stop facilities, reaffirming its mission to deliver a premium automotive experience to all Proton customers. Currently, Proton operates over 173 service centres and 73 Body & Paint facilities nationwide. Its 24-hour customer assistance hotline, available at 1-800-888-8398, ensures round-the-clock roadside support for added peace of mind. Customers seeking further details on the new tyre services or looking to find participating service centres are encouraged to visit the official Proton website or contact their nearest authorised Proton outlet.
Associated Press
22-05-2025
- Business
- Associated Press
$1.48 Bn Perforating Gun Markets: Through Tubing Hollow Carrier & Exposed, Wireline Conveyed Casing, TCP - Global Forecast to 2030
DUBLIN--(BUSINESS WIRE)--May 22, 2025-- The 'Perforating Gun Market by Gun Type (Through Tubing Hollow Carrier & Exposed, Wireline Conveyed Casing, TCP), Well Type (Horizontal, Vertical), Depth (Up to 3,000 ft, 3,001-8,000 ft, above 8,000 ft), Pressure, Application, Region - Global Forecast to 2030" has been added to offering. The perforating gun market is poised to grow, projected to reach USD 1.48 billion by 2030 from an estimated USD 1.19 billion in 2025, reflecting a CAGR of 4.5% within the forecast period. Rising global energy demand, fueled by industrial growth, expanding transportation infrastructure, and increasing urbanization, is compelling oil and gas producers to enhance supply capacities. Onshore Segment Growth In applications, the onshore segment is expected to be the fastest growing within the perforating gun market during the forecast period. The market is bifurcated into offshore and onshore categories. Advances in perforating technologies have significantly improved operational efficiency and performance in onshore well completions. Enhanced reservoir targeting technology now allows operators to effectively reach reservoirs using WCP and TCP systems for perforating. Unconventional shale and tight oil onshore formations achieve optimal production by mitigating formation damage through these methods. Two recent advancements-wireless technology and electronic firing components in perforating systems-have bolstered operational flexibility by enabling remote activation and monitoring, thus diminishing dangers and cutting expenses in onshore processes. High-Pressure Well Demand When segmented by pressure, high-pressure wells are anticipated to capture the largest market share during the forecast period. These wells harbor substantial hydrocarbons under pressure, offering major production opportunities. Operators rely on high-performance perforating guns to access such reserves, ensuring precise perforation even under extreme conditions. Accurate reservoir perforation at high pressure minimizes geological damage and enhances penetration rates, optimizing initial production, improving reservoir drainage, and boosting long-term recovery. Asia Pacific Market Dynamics Asia Pacific is expected to become the second-fastest region in the perforating gun market from 2025-2030. The region's market growth is driven by governmental initiatives and supportive policy measures fostering upstream oil and gas activities. Policies like India's Hydrocarbon Exploration and Licensing Policy (HELP) and China's open acreage licensing policy are designed to enhance exploration and development, granting both local and international operators access to potential blocks, reducing entry barriers, fortifying investor confidence, and promoting petroleum operations. Key Attributes: Key Topics Covered: Market Dynamics Drivers Restraints Opportunities Challenges Trends/Disruptions Impacting Customer Business Supply Chain Analysis Ecosystem Analysis Technology Analysis Case Study Analysis Patent Analysis Key Conferences and Events, 2025-2026 Regulatory Landscape Impact of 2025 US Tariff - Overview Porter's Five Forces Analysis Company Profiles For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on CONTACT: Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: INDUSTRY KEYWORD: OIL/GAS ENERGY SOURCE: Research and Markets Copyright Business Wire 2025. PUB: 05/22/2025 08:46 AM/DISC: 05/22/2025 08:46 AM
