ISLAMABAD: Former premier Shahid Khaqan Abbasi has told the country’s top corruption watchdog body that he and his ministry made appointments of CEOs on merit in public limited companies. Abbasi was responding to NAB’s questionnaire which sought information under Section 19 of NAO, 1999 in an inquiry against officers/officials of government who according to the bureau were illegally appointed by…
Read MoreYear: 2021
Plan to transfer Rs1060b burden to power consumers to cut circular debt
Islamabad – The government is planning to transfer the burden of Rs 1060 billion to the power consumers during next 27 months (March 2021-June 2023) to reduce the circular debt (CD) under the Circular Debt Management Plan 2021 (CDMP-21). Under the Circular Debt Management Plan (CDMP) it is proposed that Rs 194 billion will be collected through quarterly adjustments, while…
Read MoreWorldwide Reservoir Analysis Industry to 2026 – Increasing Investments in the Oil & Gas Sector Will Drive the Market
The global reservoir analysis market is evaluated at US$7.737 billion for the year 2020 growing at a CAGR of 4.67% reaching the market size of US$10.174 billion by the year 2026. Reservoir analysis refers to the analysis of the rocks, pores and fluids inside a reservoir to optimise their production and recovery techniques. The methods and equipment used in the…
Read MoreMinistry unable to appoint KPT chairman
Despite the passage of three months, the Ministry of Maritime Affairs has failed to appoint a regular chairman of the Karachi Port Trust (KPT). With its failure to make the appointment, the ministry has once again sought an extension in the additional charge of KPT chairman given to the Ministry of Maritime Affairs secretary. The cabinet is scheduled to discuss…
Read MoreGovt to slash power subsidy
Policymakers have approved power subsidy reform measures under which subsidy for 8 million consumers will come to an end in the first phase. As part of reforms, the government will increase the ceiling for lifeline consumers from 50 units to 100 units per month. At present, 22 million electricity consumers are getting subsidy. However, it will be limited to 13.9…
Read MoreProject to help Pesco save Rs1.3bn
ISLAMABAD: A recently completed US government-assisted pilot project will help the Peshawar Electric Supply Company (Pesco) save Rs1.3 billion annually by overcoming the issues of theft, billing problems and power supply in the provincial capital. Under the project, the US Agency for International Development (USAID) installed 157-km anti-theft cable and 5,000 smart meters in various areas covered by Pesco, including…
Read MoreNo change in petrol, diesel prices
ISLAMABAD: The government on Monday decided not to increase the prices of petrol and high-speed diesel (HSD) by adjusting taxes, but increased the rates of kerosene and light diesel oil. “Despite very limited fiscal space, the government has decided that the prices of petrol and HSD will remain the same,” said the Ministry of Finance. On the other hand, it…
Read MoreGasPort plans $94m virtual LNG pipeline from Gwadar
LAHORE: The Gwadar GasPort Limited (GGPL) plans to invest $94.04 million in a ‘virtual pipeline’ to deliver imported liquefied natural gas (LNG) at the doorsteps of the industrial and other private sector consumers at competitive prices via cryogenic bowsers. “We hope to commission the terminal as early as October/November subject to issuance of a provisional licence from the Oil &…
Read MoreElectricity tariff to go up by Rs5.36 per unit in two years
ISLAMABAD: The government on Monday approved a plan under which the base electricity tariff across the country will further increase by a cumulative Rs5.36 per unit (more than 34 per cent) in at least three phases over the next two years. The Circular Debt Management Plan (CDMP) was approved during a meeting of the Cabinet Committee on Energy (CCoE) presided…
Read MoreAsia’s LNG demand upends global gas pricing models
The change was highlighted this winter, when freezing temperatures in the northern hemisphere meant liquefied natural gas tankers went to Asia, the biggest consumer of the fuel and where sellers could get record-high rates. That pushed up market levels in Europe and, conversely, is now acting as a price brake as winter ends and LNG supplies return to the region.…
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