China Power Hub Generation Company (Pvt) Ltd (CPHGC) has cautioned the government that it would shut down its complex after middle of next month if substantial payment is not made to purchase coal as inventory is now depleting. This company has conveyed this message to National Electric Power Regulatory Authority (Nepra) and other concerned authorities. The CPHGC is a 1,320…
Read More
National Transmission & Despatch Company’s (NTDC) near 80 percent power grid stations lack proper event and fault recording mechanism, which results in frequent breakdowns amid long spells of announced and unannounced load-shedding in the country. “Owing to such criminal negligence, power transmission utilities did not have the ability to record, locate, promptly repair and fix responsibility for power breakdowns,” official…
Read More
Pakistan Refinery Limited (PRL) on Thursday reported a record surge of 931 percent in its net profit for the third quarter of this fiscal on an increase in the sales. In a statement to the Pakistan Stock Exchange (PSX), the company reported a net profit of Rs5.529 billion for the quarter ended March 31, up from Rs536.406 million the previous…
Read More
Following the non-availability of required fuel for power generation and non-maintenance of some important power plants, the power outages that severely hit the masses across the country during the holy month of Ramazan have further increased up to 10-12 hours, making the lives of people miserable even at the time of Iftari and Sehri. “The less production of hydro power…
Read More
Engro Fertilisers reported a 4% decline in profit after tax to Rs5.5 billion for the first quarter (January-March) of calendar year 2022 in the wake of a significant increase in finance cost. According to a notice sent to the Pakistan Stock Exchange, the urea producing firm recorded a profit after tax of Rs5.7 billion in the same period of previous…
Read More
The tender awarded to Pakistan LNG Limited (PLL) for the month of May is quite costly for the country mainly owing to supply-chain disruptions in the international market on the back of Russia-Ukraine war. The firm selected the lowest bid for liquefied natural gas (LNG) cargoes. Out of seven, six contract prices for LNG cargoes were received. The cargoes were…
Read More
The year 2022 will see economic stability, development and public welfare under the leadership of Prime Minister Shehbaz Sharif, Minister of State for Finance Dr Aisha Ghaus Pasha remarked. Talking to a news channel on Wednesday, she underlined that political stability was important and necessary to mobilise Pakistan’s economy. “Once again, Pakistan will make things better on both internal and…
Read More
High oil prices will push Saudi Arabia’s economy into high-growth mode, more than doubling this year, according to the International Monetary Fund (IMF), which raised its growth forecast for the Kingdom on Tuesday. The IMF is targeting 7.6% growth for the Saudi economy this year, raising its forecast by 2.8%. While much of this was attributed to multi-year-high oil prices,…
Read More
Following the visit of former prime minister Imran Khan to Moscow, Russia has sent a draft four-year (2022-2025) roadmap for development of trade and economic cooperation including increase in bilateral trade turnover, well informed sources told Business Recorder. The draft roadmap, shared by Russian embassy in Islamabad with the Ministry of Foreign Affairs, will stimulate economic activity of Russian and Pakistani…
Read More
Europe is frantically looking for a replacement for Russian gas. In this regard, one country expressed its readiness to become the very alternative in the field of gas supply for many countries, Trend reports citing Haber7. “Azerbaijan, our brotherly country, is preparing to become an alternative for Switzerland in the context of the energy crisis. According to the statement of…
Read More
