Day: November 29, 2022

The Pakistan government has steeply hiked petroleum prices to implement the tough preconditions set by the International Monetary Fund (IMF) to revive the stalled USD 6 billion bailout package for the cash-strapped country. Prices of all petroleum products went up by about Rs14-19 per litre after the decision came into effect from midnight on Thursday. According to a notification issued…

Pakistan’s Prime Minister Shehbaz Sharif said on Thursday the country has sufficient stocks of wheat and he will not allow its private import to save “precious foreign exchange”, according to a statement from his office. The country is reeling from the impact of severe floods last month which killed 1,700 and submerged huge swathes of the country, damaging farmlands, infrastructure…

Pakistan may be staring at a severe availability of natural gas crisis this winter. Last week Pakistan government’s Petroleum Division informed a National Assembly panel that there was no option “but natural gas rationing in the coming winter in view of the increasing shortage every year”, according to a report in leading Pak English daily Dawn. Pak government officials have…

The acquired 221 Line km of 2D seismic data and 21 Sq. km of 3D seismic data represents 49% of total 2D and 17% of total 3D seismic data acquisition in the country respectively,” the company said in its first quarterly financial report for 2022-23. Moreover, the OGDCL using in-house resources processed/reprocessed 1,065 Line km of 2D seismic data, besides…

K-Electric (KE) announced the winners for the first 7/11+ Innovation Challenge in partnership with INNOVentures Global at a day-long event held at Habib University in Karachi. KE’s 7/11+ Innovation Challenge is the first of its kind event in Pakistan’s utility market, designed for entrepreneurs, startups, researchers, and university students to promote and accelerate strategic innovation. Participants spent the first half…