The government on Friday conceded purchasing expensive liquefied natural gas (LNG) from the spot market as ‘a lesser evil’, saying no body without a crystal ball could perfectly time or beat international commodity market. “Pakistan LNG Ltd (PLL) board was forced to accept the four LNG ‘spot’ tenders at $15 per mmBtu for September 2021; otherwise, the replacement fuel (ie…
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As petrol stocks plummeted to three-five days’ consumption cover throughout the country, except Sindh, the government increased its price by Rs1.71 per litre and decided to change berthing order of various oil vessels. A senior government official told Dawn that the country’s overall petrol stocks had fallen below 260,000 tonnes that were equivalent to less than 10 days of consumption. After excluding…
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The CEO of Italian infrastructure giant Snam on Friday outlined a vision for the future of hydrogen, saying the “beauty” of it was that it could be easily stored and transported. Speaking to CNBC’s “Squawk Box Europe,” Marco Alverà spoke about how current systems would be used to facilitate the delivery of hydrogen produced using renewable sources as well as…
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Overseas Pakistanis-run Dice Foundation has developed Pakistan’s first electric car and its battery, a prototype of which will be unveiled in the next three to four months, it announced on Friday. Dr Khursheed Qureshi, founder and chairman of Dice Foundation told The Express Tribune that by utilising the expertise of Pakistani diaspora, the country has successfully engineered its first indigenous…
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Tomorrow on first August KANUPP will be shutdown permanently at 1641 hrs. First criticality of KANUPP reactor was achieved on first August 1971 at 1641 hrs. KANUPP belongs to first generation of commercially operated PHWR reactors. Out of first four NPPs, two were installed at Canada, one in India and one in Pakistan. All reactors except KANUPP were shutdown several…
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The Oil Marketing Association Pakistan (OMAP), which is a representative body of the Oil Marketing Companies (OMCs), called on the government again on Friday to remove the anomaly in the levying of the turnover tax applicable to the oil marketing sector by linking it to the margins earned by the OMCs and reducing its rate to 0.25 percent. The Chief Executive…
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Oil Marketing Association Pakistan (OMAP) on Friday once again called on the government to remove the anomaly in the levying of turnover tax applicable to oil marketing sector by linking it to margins earned by the Oil Marketing Companies (OMCs) and reducing its rate to 0.25 percent. Dr. Ilyas Fazil, Chief Executive Officer of OMAP, a representative body of Oil…
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