The Asian high sulfur fuel oil market in contrast is expected to see lengthening supply, according to traders, as refineries make incremental increases to production and demand from utilities in South Asia falls in January, with the exception of Sri Lanka. The Singapore Marine Fuel 0.5%S balance-January/February backwardation in mid-morning trade Jan. 4 was stable from the Dec. 31 assessment…
Read More
ISLAMABAD: The Federal government has allowed Petroleum Division (PD) to utilise funds from the Gas Infrastructure Development Cess (GIDC), amounting to Rs1.717 billion for the repayment of Government Holdings (Pvt) Limited (GHPL)’s loan, well informed sources told Business Recorder. The Inter State Gas Systems (Pvt) Limited (ISGSL) was the nominated entity of the Government of Pakistan (GoP) for the implementation…
Read More
Arguably the most successful investor of all times, Warren Buffett, once said there was no way “to predict what the market would do in the short term”. The same holds true for the Pakistan stock market in 2021. What really is certain is the uncertainty that pervades the market. One thing about stock market analysts and strategists is that all…
Read More
ISLAMABAD-Cognizant of the country’s existing and future energy needs, the Petroleum Division (PD), during the year 2020, has aligned its strategy to streamline the matters related to the oil and gas sector. It introduced the ease-of-doing-business plan and took radical measures to ensure a level-playing field for all competitors in the energy sector. For the purpose, as many as 10…
Read More
KARACHI: While the Sui Southern Gas Company (SSGC) has denied claims of loadshedding in domestic and industrial sectors, the consumers in Karachi continue to face gas shortages in extreme cold. In a press statement on Sunday, the company said that as per the government of Pakistan’s gas load management plan, domestic and zero rated industrial customers are to be given…
Read More
ISLAMABAD: On privatisation of a public sector entity, the consumers expect – and in many cases, also experience – an improvement in services and prices. Not always though, and especially not when the element of competition is missing in the transformation from public to private sector. So, whenever the governments, in their rush to privatise, miss to put in the…
Read More
The cargo was shipped on board the Al-Salam 2 for Pakistan’s state-owned PSO, KPC said. The vessel departed from Kuwait’s Mina al-Ahmadi on 1 January, according to Vortexa, and is due to arrive at Pakistan’s Port Qasim in Karachi on 6 January. Kuwait completed term deals in early-December to supply both 10ppm sulphur gasoil, or ULSD, and jet fuel to PSO in…
Read More
ISLAMABAD: As electricity tariffs go out of reach of consumers, a group of foreign investors has sought Prime Minister Imran Khan’s intervention to remove roadblocks to cheap 425mw alternative and renewable energy (ARE) projects of less than 4 cents (Rs6.3) per unit. The Pakistan Foreign Investors Forum (PFIF) — a group of wind and solar energy sponsors — has complained…
Read More
MULTAN: Foreign Minister Shah Mahmood Qureshi has said that the incumbent government is making all-out efforts to ensure early completion of the second phase of the China-Pakistan Economic Corridor (CPEC), which will bring a new era of development in the country.Talking to the people of his constituency in Multan on Sunday, Shah Mahmood Qureshi said that the Ministry of Foreign…
Read More
ISLAMABAD: The Pakistan Telecommunication Authority (PTA) has asked social media platforms to immediately block all content related to a sacrilegious film titled “Lady in Heaven”.In a statement on Sunday, the PTA said that keeping in view different reports regarding the movie and its sacrilegious content, social media platforms including YouTube, Facebook, Instagram and Twitter, have been directed “for immediate blocking…
Read More
