ISLAMABAD: The country’s two gas utilities — SNGPL and SSGCL — have demanded up to 220 per cent increase in the prescribed prices of gas with effect from July 1 to meet estimated revenue requirement (ERR) during the fiscal year 2021-22. In formal petitions filed with the Oil and Gas Regulatory Authority (Ogra), the Lahore-based Sui Northern Gas Pipelines Limited…
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ISLAMABAD: The federal cabinet on Friday approved the promulgation of an ordinance aimed at preparing a legal path to increase power tariff by a minimum Rs5.65 per unit from now till October to collect a whopping Rs884 billion from consumers. It was the second emergency summary that the federal cabinet had approved through circulation to save the International Monetary Fund Programme from…
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Importers have reportedly misled the government over the prices of imported liquefied petroleum gas (LPG) to manage approval of the proposed LPG policy to make additional windfall gains at the cost of the national exchequer. Due to monopoly of LPG importers in the LPG Policy, locally produced LPG companies like Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited…
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ISLAMABAD: Ministry of Energy (MoE) is reportedly preparing a new oil refining and marketing policy as $15 billion new investment is said to be waiting in the wings, well-informed sources told Business Recorder. The issue of existing refineries is very serious as they faced financial losses of approximately Rs 50 billion during the last two years. Refineries faced inventory losses…
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The federal cabinet on Saturday decided to cap maximum retail price of the Russian and Chinese Covid vaccine injections, being imported by the private sector amid a sharp increase in coronavirus cases and in the absence of a wider government-funded vaccination programme. The cabinet approval came through a circulation of the health ministry summary. It came on the day when…
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A cabinet body on Thursday expressed its anger over lack of progress on the privatisation programme and directed the Ministry of Privatisation to submit timelines for outsourcing the management of power distribution companies. The Cabinet Committee on Privatisation (CCOP) was furious over the privatisation ministry’s lack of progress on its two-month-old instructions that called for beginning the process of outsourcing…
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ISLAMABAD: Prime Minister Imran Khan has assured Saudi business tycoon Abdulaziz Hamad Aljomaih – managing director-investments – Aljomaih Holdings – one of the largest business groups in Saudi Arabia – to expedite the resolution of K-Electric’s debt issues with other entities to facilitate a smooth transaction with the Chinese power generation firm – Shanghai Electric. Aljomaih is one of the…
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PESHAWAR: The Khyber Pakhtunkhwa government is planning to build two hydroelectric-powered pilot “mining farms” to capitalise on a bullish global cryptocurrency market, a minister overseeing a new government crypto policy told Reuters on Wednesday. The announcement comes as cryptocurrencies are gaining mainstream acceptance, with Bitcoin’s price reaching record levels as investors such as Elon Musk pour funds into it, and the first…
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UrduPoint / Pakistan Point News – 18th Mar, 2021 ) :Britain’s carbon dioxide emissions have halved from their 1990 level, taking the country half-way to its net-zero 2050 commitment, a study indicated Thursday. Carbon Brief said the 51 percent drop, which has largely been driven by a move away from coal for power generation, was hastened by a record 11 percent drop in greenhouse gas emissions…
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London, (APP – UrduPoint / Pakistan Point News – 18th Mar, 2021 ) :National Grid, which distributes energy to British homes and businesses, announced Thursday a multi-billion-pound shake-up of its electricity and gas assets as the UK transitions to cleaner fuels. The company has agreed to buy Britain’s largest electricity distribution business — Western Power Distribution — from US energy…
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