Day: September 3, 2020

KARACHI: Oil sales increased 21 percent year-on-year to 1.6 million tons in August with furnace oil consumption in the power generation sector having sharply soared amid resurgence in post-lockdown activities, analysts said on Wednesday. Oil marketing companies sold 1.3 million tons in August last year. Sales of furnace oil (FO), high-speed diesel (HSD) and motor spirit increased 71 percent to…

The relations of independent power producers (IPPs) have hit a new low due to serious contentions over the recent agreement signed with the government negotiation committee that saw a reduction in the rate of return and accountability of IPPs that generate excess profits. According to a report by Khaleeq Kiani in Dawn newspaper, differences have arisen between two groups of…

Islamabad : Efforts are under-way to make Islamabad as the first-ever city of Pakistan to convert its public transport into electric vehicles in near future, said Federal Minister for Science and Technology Chaudhry Fawad Hussain on Wednesday. Addressing a press conference here, the federal minister said, “This project would revolutionalise the entire transport sector of Pakistan.” Chaudhry Fawad said that…

ISLAMABAD, Sep 2 (APP): The Petroleum Division is planning to start ‘physical work’ on the much-delayed Pakistan Arab Refinery Company (PARCO) Coastal Refinery before the next summer to achieve self-reliance in the oil production sector. “All formalities including the refinery’s design, licensing, engineering work, sizing and product-slab have been completed. Hopefully the physical work on seven- billion dollar project will…