ISLAMABAD: The government has finalised National Electricity Policy 2020 that seeks ‘balanced development’ of power generation, transmission and distribution through full cost recoveries at every stage and to gradually bring an end to use of all imported fuels. The draft policy that would pass through the next meeting of the Council of Common Interests for approval also envisages that “the…
Read MoreLAHORE: The Ministry of Commerce (MoC) has blamed the Federal Board of Revenue (FBR), the Ministry of Communications (MoC) and the Ministry of Energy’s Power Division for hampering the country’s exports, sources told Profit on Sunday. The commerce ministry took up its reservations at a recent meeting headed by Prime Minister Imran Khan that reviewed the ministry’s performance regarding the country’s exports, sources…
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Investors started to dump shares as panic gripped the market, making the Shanghai Composite index close nearly eight per cent lower, its biggest one-day drop in more than four years. Losses spread to the US and European markets. The Pakistan stock market fell 2.4pc in the preceding week and the KSE-100 index suffered a steep drop of 1,222 points or…
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ISLAMABAD: The government has planned to recover from the National Finance Commission (NFC) Award the outstanding amount owed by the provinces or their departments to the power sector. The full cost of service that also includes full general cost will also be passed on to consumers. The incumbent government will also reduce reliance on imported fuel for electric power generation…
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SLAMABAD – Pakistan Petroleum Limited found one of the largest ever gas reserves in history of Pakistan. Pakistan Petroleum Limited (PPL) has found huge gas reserves in Margand block at Kalat, Balochistan. According to details, PPL owns 100% of the drilling rights of the block and had been drilling at Margand X-1 block since 30 June 2019. PM Imran Khan chairs high…
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World Wind Turbine leading manufacturer Denmark based company Vestas has expressed deep interest in establishing Wind Turbine factory in Pakistan and started ground work for exploring the feasibilities.This was revealed in a meeting of delegation of Vestas Company led by Danish Ambassador Rolf Holmboe with Federal Minister for Power and Petroleum Omar Ayub Khan here Thursday, said a press release.Special…
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Karachi, February 7, 2020: Pakistan Petroleum Limited (PPL), as part of its Corporate Social Responsibility programme, provided financial support to the tune of Rs. 8.245 million for provision of quality healthcare for disadvantaged communities residing around its operated Kandhkot and Adhi fields in Sindh and Punjab, respectively. Actg Chief Community Development Kamran Sher presented the cheque for Rs 6.5 million to President…
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One of the anticipated things on the bucket list during Prime Minister Imran Khan’s recent visit to Malaysia was the offer in OGDC’s stake sale. While nothing of the sort has been reported so far, and no intimations have been made in the recent meeting of the two premiers, chances of Malaysian energy giant entering Pakistan have been voiced officially…
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Pakistan has requested the International Monetary Fund to relax the condition of immediate increase in electricity tariffs due to an already double-digit inflation and unfavourable political conditions. Pakistan has requested the International Monetary Fund to relax the condition of immediate increase in electricity tariffs due to an already double-digit inflation and unfavourable political conditions. The government has assured the IMF…
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Denmark-based world’s leading manufacturer of wind turbines, Vestas has expressed deep interest in establishing wind turbines factory in Pakistan and has in this regard started ground work for exploring the feasibilities. Pakistan has offered various options to Denmark based company Vestas including to establish wind turbines factory in the CPEC Special Economic Zone. The matter was discussed here in a…
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