Year: 2020

Getting rid of oil and gas is “far-fetched and unrealistic,” Saudi Energy Minister, Prince Abdulaziz bin Salman, said on Monday, adding that companies and governments should be thinking about how to reduce emissions from fossil fuels instead. “Let’s not focus on the fuel of choice but rather how we can mitigate and adapt to these realities without showing any preferences,”…

Stocks were in the green on Monday with the benchmark KSE-100 index climbing 585 points, to close at 41,850 – up 1.4 per cent.Pakistan Stock Exchange (PSX) buoyed up by cement stocks and an encouraging Financial Action Task Force (FATF) announcement on Friday. The market optimism was primarily driven by the appreciation of cement and construction-related stocks. Southern cement manufacturers’…

KARACHI: Investors got on the front foot in the stock market on Monday as uncertainty surrounding the Financial Action Task Force’s decision on Pakistan’s fate faded away. FATF on Friday gave yet another lifeline to Pakistan and decided to keep the country in its grey list for four more months. The stock market followed an upward trajectory from the word…

As the cold dry winter approaches, citizens must brace themselves for yet another crisis. In a recent interview on BCC Urdu, Special Assistant to the Prime Minister on Petroleum Nadeem Babar asserted that Pakistan has minimal reserves that will only last the next 10 to 14 years. This single statement is greatly concerning, particularly because electricity generation also relies on…

The Oil and Gas Regulatory Authority (OGRA) has notified revised gas sale price for domestic, commercial and industrial sectors, which would be effective from September 1. According to a notification dated October 23 released to the media on Monday, the authority has determined Rs121 per Million British Thermal Unit (MMBTU) for domestic consumers using up to 0.5hm3 (in cubic hectometers)…

ISLAMABAD: The Auditor General of Pakistan (AGP) has found fault with the utilisation of almost Rs3 trillion public funds by the power division, involving huge irregularities, mismanagement, misappropriation and embezzlement. In its report for the audit year 2019-20 that has been laid before the National Assembly after a delay of almost eight months, the AGP also put question marks over…

Sukkur deputy commissioner (DC) Rana Adeel Taswar has directed the Sukkur Electric Power Supply Company (SEPCO) to ensure uninterrupted power supply during the month of Rabiul Awwal and asked taluka municipal administrations to ensure proper sanitation and availability of potable water to people attending processions. Sukkur DC was presiding over a meeting on Sunday to review security and other arrangements…

The salaries and allowances paid by the National Electric Power Regulatory Authority (Nepra) to its chairman and four provincial members has soared by up to 551% in the fiscal year ended June 30, 2020 compared to what they received in the preceding year. The chairman received a sum of Rs9.97 million on account of managerial remuneration and other allowances in…