Month: March 2020

ISLAMABAD: The indications from Saudi Arabia so far received suggest that it would not install a world class state-of-art and deep conversion refinery and petrochemical complex in Gwadar Port as there is no system available to evacuate the petroleum products. However, Saudi Aramco has hinted at setting up the refinery with petrochemical complex at Hub, or at Somiani – coastal areas of Balochistan, which are not far away from Karachi, a senior official privy to the development confided to the News. “In Hub area, UAE is already in process of…

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The agreement to end the brutal U.S.-Taliban conflict in Afghanistan, which began nearly two decades ago with the 2001 terrorist attacks in New York and Washington and became America’s longest war, was signed on Saturday under the gaze of tough men in turbans, who clapped and shouted “Allahu akbar!” President Trump hailed the accord, formalized with signatures and a handshake between U.S. negotiator Zalmay Khalilzad and his Taliban counterpart, Abdul Ghani Baradar, as historic. “There hasn’t been a moment like this,” Trump said at a White House news conference. “We’ve had…

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As the World Health Organization on Friday upgraded its global risk assessment for the coronavirus to “very high”, anxious oil markets are wondering when might be a good time to panic about the oil demand and its effect on inventories, investment dollars, and ultimately, oil prices. Where We Stand So far, the coronavirus has infected more than 80,000 people worldwide, claiming nearly 3,000 lives. It has spread to 49 different countries in just a few short weeks, and continues to disrupt airline travel on a massive scale. In California, one…

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National Electric Power Regulatory Authority (Nepra) said on Friday that power Distribution Companies (Discos) have not converted into commercially viable independent business entities as they continue to be plagued by financial mismanagement. Addressing the opening of the fifth day (final day) of Nepra Energy Week 2020, Nepra Member (Sindh) Rafquue Ahmad Shaikh said that the reform process envisaged corporatization of Discos and ultimate privatisation. However, 20 years down the line, corporatization of Discos has not worked fully. He maintained that despite having their respective Board of Directors, Discos are still…

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ISLAMABAD: A major cut of Rs 10 in petrol price and Rs 7.3 in diesel is likely following 20 per cent fall in oil prices in the global oil market. According to media reports, the Oil and Gas Regulatory Authority (Ogra) has recommended the government to reduce Rs10 per litre in price of petrol and the price of high speed diesel (HSD). It is pertinent to mention here that the government decided to keep the price of petrol unchanged for the month of February. The Oil and Gas Regulatory Authority (OGRA)…

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Adviser to Prime Minister on Climate Change Malik Amin Aslam on Friday said that notification for electric vehicles policy would be issued after getting approval from the Economic Coordination Committee (ECC) next week. This is the second time that Malik Amin had set a deadline on notifying electric vehicle policy. During his visit to Karachi in November last year, he had announced issuance of relevant SROs by the first week of December, but since then the industry and importers are waiting for such notifications. Now, he again came up with…

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