December 7, 2021 -

IFC Partners with Engro to Reduce Plastic Waste, Minimise Climate Impacts

December 7, 2021August 22, 2023 Admin

The International Finance Corporation (IFC) is partnering with Engro Corporation to help reduce plastic waste, promote recycling and boost the company’s energy efficiency, a statement said on Monday. The project is part of the IFC’s Pakistan Resource Efficiency Programme, which aims at improving the efficiency, cost-competitiveness, reliability, and productivity in the manufacturing sector, particularly in energy-intensive industries. The IFC’s climate…

$1bn ‘Economic Plan’ Wins ADB’s Approval

December 7, 2021August 13, 2023 Admin

The Independent Evaluation Department (IED) of the Asian Development Bank (ADB) has rated the “Economic Stabilization Programme” of worth $1 billion for Pakistan as successful. The IED in its validation report stated that the special policy-based loan (SPBL) of one billion dollar was aimed to address Pakistan’s severe macroeconomic crisis faced in 2019. To support the reform programme’s implementation, the…

CNG Sector, Industry Reject SSGC’s Gas Tariff Hike Demand

December 7, 2021December 22, 2023 Admin

Industrial and CNG (Compressed Natural Gas) sector on Monday rejected Sui Southern Gas Company’s (SSGC) demand to raise tariff by Rs58.42/mmBtu at an Oil and Gas Regulatory Authority (OGRA) public hearing, a statement said. Public hearing, presided over by Chairman OGRA Masroor Khan, was attended by high officials of SSGC as well as representatives of trade bodies, which not only…

Power Tariff Jacked up by Rs3.75 Per Unit for Karachi

December 7, 2021April 26, 2024 Admin

The National Electric Power Regulatory Authority (Nepra) has allowed an increase of Rs3.75 per unit in power tariff for residents of Karachi (K-Electric consumers), stated a notification issued by the authority on Tuesday. According to the authority, the increase in electricity prices is in line with the September monthly fuel adjustment. The increase will not apply to lifeline users. The…

Supply to CNG stations in Punjab, KP Halted as Winter Bites

December 7, 2021June 29, 2023 Admin

Sui Northern Gas Pipelines Limited (SNGPL) suspended the gas supply to compressed natural gas (CNG) stations across Punjab and Khyber Pakhtunkhwa on Monday for an indefinite period in a bid to meet the increasing demand of over six million domestic consumers. The CNG sector has taken exception to the SNGPL’s decision, describing the suspension of gas as an illegal act.…

Confluence of Policy, Market Failure

December 7, 2021June 29, 2023 Admin

ON the heels of the sudden surge in inflation beyond expectations and a record trade deficit, Prime Minister’s adviser on finance and revenue Shaukat Tarin came out in the public to pump possible confidence to the markets that were seen rapidly shedding value of rupee and share prices. He expects the foreign exchange reserves to reach $20.5 billion in a…

Samsung TV plant begins production in Karachi

December 7, 2021June 29, 2023 Admin

South Korean technology giant Samsung Electronics has operationalised its first TV line-up plant in collaboration with a local firm in Karachi, Commerce Adviser Razak Dawood announced on Monday. Taking to Twitter, Mr Dawood shared photos of the facility and tweeted: “We congratulate Samsung Electronics on operationalising its first TV Line-up plant in Pakistan at Karachi in collaboration with R&R Industries.…

OGRA Cuts Payment to Gas Producers

December 7, 2021June 29, 2023 Admin

The Oil and Gas Regulatory Authority (Ogra) has directed gas utilities to cut provisional payments to gas producers by 25%, leaving exploration and production (E&P) companies high and dry. In a letter to managing directors of the country’s two gas utilities, Ogra advised them that payments to producers of natural gas should be made strictly on the basis of price…

Priyantha Diyawadana

December 7, 2021June 29, 2023 Admin

We, the Pakistani American community, are extremely saddened by the barbaric death of Sri Lankan factory manager Priyantha Diyawadana, at the hands of a violent mob in Sialkot, Pakistan. This is totally against the teachings of our beloved Prophet, and Islam. We condemn this heinous act, and hope to get full justice for the victim and his family. We are now collecting funds for…

Govt Set to Appoint MDs of Energy Firms

December 7, 2021June 29, 2023 Admin

The Petroleum Division is close to appointing heads of key state-owned energy companies in an effort to improve the performance of these units as it has drawn flak for delaying the hiring for several months. The division has thus far failed to appoint managing directors/ chief executive officers of major energy companies, which include Pakistan Petroleum Limited (PPL) and Pakistan…