ISLAMABAD: The Cabinet Committee on Energy (CCOE) on Monday rejected the proposal for invoking clause of forced majeur for supply of LNG contracts keeping in view the reduced prices in the international market. However, the highest forum of CCOE approved to authorize PSO/PLL to negotiate with ENI and Gunvor for fixed price of supplies for the next six to 24…
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During the last 13 years the national kitty faced loss of over Rs4 trillion due to circular debt and subsidies being given to power producers, the power sector inquiry report released on Tuesday. It said that 16 independent power producing companies (IPPs) invested around Rs60 billion and earned over Rs400 billion in profits in a period ranging from two to…
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KARACHI: Pakistan’s stock market was down on Tuesday with oil and gas recording a major dip after international oil prices crashed to below zero.Experts, however, are optimistic that the country could benefit from the historically low oil prices.The Pakistan stock exchange’s benchmark KSE-100 index was down by more than 3 percent or 1,131 points by afternoon trade as investors weighed…
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ISLAMABAD -UNS – The meeting of federal cabinet agreed to public the huge corruption scandal report in power sector will public in coming days. Independent Power Producers (IPPs) looting Pakistani nation with cooperation of previous governments and Bureaucracy. Federal Investigative Agency FIA and others government agencies compiled a report on the huge corruption of IPPs. The IPPs report was submitted…
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