Pakistan’s leading telecommunication and ICT services provider — Pakistan Telecommunication Company Limited (PTCL) — has announced its financial results for the first half ended June 30, 2021, at its Board of Directors’ meeting held in Islamabad on July 14, 2021. PTCL Group delivered a strong financial and operational performance as it reported 8707% or 87x increase in profits during the…
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Global trade in LNG in 2020 remained essentially unchanged from 2019, averaging 46.9 billion ft3/d compared with 46.7 billion ft/d in 2019, according to the recently released The LNG Industry: GIIGNL Annual Report 2021 by the International Group of Liquefied Natural Gas Importers (GIIGNL). This 0.4% annual increase in LNG trade occurred despite the COVID-19 pandemic that reduced global natural…
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Saudi Arabia’s Ambassador to Pakistan Nawaf Bin Said Al-Malki inaugurated on Tuesday a solar project to provide energy to 1,240 schools, benefiting more than 135,000 students annually. The project, which is funded by Saudi Arabia through the Saudi Fund for Development, is part of the Kingdom’s efforts to support development projects in the education sector. It is the first project the…
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Both the countries have already signed a memorandum of understanding (MoU) on industrial cooperation and now in the upcoming meeting of the JCC, it is likely to be taken to the next level, the China Economic Net (CEN) reported on Monday. The JCC is the highest decision-making body of CPEC, which is co-chaired by Pakistan’s minister for planning and China’s…
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As hydel generation from Tarbela dam has dropped alarmingly due to low water inflows, the consumption of furnace oil by power plants has reached to a peak level that will lead to higher electricity rates on account of fuel adjustment for the month of July. The price of furnace oil had hiked by Rs17,000 per ton following growing demand in…
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Special Assistant to Prime Minister (SAPM) on Power and Petroleum Tabish Gauhar has vowed to ensure an inexpensive and reliable power generation and distribution system under the newly approved National Electricity Policy (NEP) 2021. “Seamless power supply at an affordable rate with efficient distribution is one of the top priorities of the government,” he said while speaking at the inaugural consultative session…
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The National Electric Power Regulatory Authority (Nepra) on Monday slashed power tariff by 26.44 paisa per unit on account of fuel cost adjustment for the month of May 2021. It allowed the Central Power Purchasing Agency-Guarantee (CPPA-G) to return 26.44 paisa per unit, which it had overcharged from electricity consumers during the month of May. The CPPA-G had requested Nepra to allow…
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Iran is ready to deliver more electricity to Pakistan and necessary infrastructure in this regard is being built, announced Iranian Ambassador to Pakistan Seyed Mohammad Ali Hosseini. During a meeting with Federal Minister for Energy Muhammad Hammad Azhar, matters relating to cooperation between the two countries in the energy sector came under discussion. Highlighting the importance of Iranian electricity import…
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Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Senior Vice President Khawaja Shahzeb Akram on Tuesday called for equal taxation for imported and locally-produced liquefied petroleum gas (LPG) to provide local industry a level playing field. “The FPCCI is not against the import of LPG. Still, it is against disparities in taxation,” he said while talking to the Pakistan…
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Byco Petroleum Pakistan Limited, Pakistan’s largest oil refining company, has signed an MoU for the first-ever implementation of SAP Ariba DSN (Digital Supplier Network) and Sourcing Suite in Pakistan. The initiative will automate the procurement process enabling a paperless process, significantly eliminating errors and unnecessary delays, as encountered in traditional procurement to the payment process.The MoU was signed by Mr.…
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