ISLAMABAD: The Petroleum Division is cognizant of the “artificial” shortage of POL products that is being created in the country by “opportunist” OMCs and petrol dealers, the spokesperson said and added that the Petroleum Division emphatically states that there is sufficient quantity of petrol stocks in the country. “Additional production by refineries as well as planned imports is on schedule…
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With fiscal deficit estimated at around 9 per cent of gross domestic product (GDP) next year, the govern-ment is struggling to put the IMF programme back on track as the Fund expects a tight freeze on all non-debt servicing expenditures through the next federal budget. Sources told Dawn that the IMF had sought to contain pri-mazy deficit to -0.4pc of…
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Amid alleged boycott by Balochistan changed the economic landscape. Chief Minister Jam Mir Kamal Khan Alyani, the Annual The meeting was informed that before the pandemic, Plan Coordination Committee (APCC) on Thursday final- exchange rate stability and overall fiscal performance ised total development outlay of about Rs1.41 trillion to was satisfactory barring tax revenues, reserves were achieve an economic growth…
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KARACHI: National Electric Power Regulatory Authority (NEPRA) has approved a tariff at Rs15.8463/kWh for Gul Ahmed Energy’s 136.17MW furnace oil-based power plant, for an extended three-year period effective November 2019. “The approved tariff shall he applicable for a term of three years or till the time CPPA/NTDC are willing and capable of supplying equivalent additional power to K-Electric, whichever comes…
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ISLAMABAD: The Cabinet Committee on Energy (CCOE) on Thursday approved the petroleum division’s proposals for making imports of diesel and petrol compliant with Euro-V standard and tasked Ogra and the OCAD to work together to thrash out a detailed mechanism in this regard. A CCOE meeting, chaired by Planning Minister Asad Umar, also approved the minimum efficiency benchmarks for captive…
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With revenues tumbling in the wake of Covid-19 outbreak, the government has decided to get rid of unutilised and dead assets of state-run oil and gas companies to boost state income. Sources told The Express Tribune that the government had formed a think tank, headed by Special Assistant to Prime Minister on Petroleum Nadeem Babar, to identify and highlight the…
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ISLAMABAD: Prime Minister Imran Khan on Thursday directed Special Assistant on Petroleum Nadeem Babar to further accelerate the process of reforms in the petroleum sector. Babar was appointed on Wednesday last by Economic Coordination Committee (ECC) as head of a body that would explore various call options for hedging prices of petroleum products imported by Pakistan. As per the details, the…
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KARACHI: The Competition Commission of Pakistan (CCP) has taken notice of the public concerns and complaints regarding the shortage of petroleum products in country and initiated an enquiry to see whether such a shortage is the result of any anti-competitive activity. The CCP is empowered under the Competition Act, 2010 to ensure that businesses do not engage in anti-competitive activities…
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ISLAMABAD: The International Monetary Fund (IMF) has urged Pakistan to freeze salaries of government employees and adhere to the fiscal consolidation path by showing a nominal primary deficit in the new budget – the two demands that Islamabad finds hard to digest. The IMF is insisting that Pakistan should continue to follow the fiscal consolidation path due to a high…
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The coronavirus pandemic’s economic downturn may have set off a sudden plunge in global greenhouse gas emissions, but another crucial metric for determining the severity of global warming — the amount of greenhouse gases actually in the air — just hit a record high. According to readings from the Scripps Institution of Oceanography and the National Oceanic and Atmospheric Administration (NOAA), the…
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