ISLAMABAD: The government has appointed two independent directors to the board of Pak Arab Refinery Limited (Parco) in a dubious way that has raised eyebrows. Sources told The Express Tribune that the board of directors of Parco was reconstituted recently, though its term was going to expire in August 2023. The government has appointed Ahad Cheema, Adviser to the Prime…
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SolaX Power, a renowned player in the photovoltaic industry, successfully hosted its highly anticipated Global Partner Summit 2023 in Tonglu, Hangzhou. More than 150 distinguished guests from over 30 countries joined SolaX Power in sharing achievements and discussing the future of solar energy. Anwar Naveed, CEO of Fronus, the most important partner of SolaX in Pakistan, was also invited to…
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ISLAMABAD: Oil and gas exploration and production (E&P) companies have sought a budgetary grant or tariff differential subsidy of at least Rs500 billion in the 2023-24 fiscal year to partially adjust the accumulated revenue shortfall of state-owned gas companies. They said that recovering the past years’ revenue shortfall from the consumer will take considerable time. “This will greatly facilitate E&P…
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ISLAMABAD: The Executive Committee of the National Economic Council (Ecnec) on Wednesday approved four development projects in Azad Kashmir, Gilgit-Baltistan and Khyber Pakhtunkhwa with a total estimated cost of Rs120.185bn. Presided over by Finance Minister Ishaq Dar, the meeting of the committee was also attended by Minister for Planning and Development Ahsan Iqbal, SAPM on Finance Tariq Bajwa, Senator Nisar…
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ISLAMABAD: The government has extended a concessionary tariff of $9 per million British thermal units (MMbtu) for the supply of gas to five export-oriented sectors for the months of May and June 2023, the Ministry of Energy said. A supplementary grant of Rs4.0 billion will be provided to Sui Northern Gas Pipelines Limited (SNGPL) to facilitate the disbursement of a…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) Wednesday hinted at allowing the state-run power distribution companies (discos) to collect an additional Rs1.6076/unit, while the K-Electric was directed to reimburse a meager Rs0.0472/unit to the consumers in June bills.This preliminary calculation was expressed in a public hearing on these companies’ petitions on account of their monthly fuel charges adjustments (FCAs)…
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Islamabad, May 31, 2023: Nutshell Conferences Group and Martin Dow Group, in strategic partnership with Overseas Investors Chamber of Commerce and Industry, and Unity Foods Limited, hosted Day 1 of the 6th Edition of LEADERS IN ISLAMABAD BUSINESS SUMMIT, with the theme “The BIG Rethink.” The sub-themes on Day 1 varied from the need for the Big Re-Think, to Leadership…
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KARACHI: Port Qasim Electric Power Company Ltd (PQEPC), which runs a $1.9 billion power plant of 1,320 megawatts on imported coal, has served a formal notice of payment default on the Central Power Purchasing Agency (CPPA). The total verified due amount that the state-backed, sole electricity purchaser owes the independent power producer (IPP) amounted to Rs77.3bn or $263.5 million as…
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