KARACHI: Petroleum dealers will meet Minister of State for Petroleum Musadik Malik on Monday (today) for an agreement on increasing their profit margin. The dealers are seeking a bigger share in the petroleum revenue and had threatened to shut petrol stations across the country if their demands are not met. On Friday, the strike was deferred for two days after…
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ISLAMABAD: Prime Minister Shehbaz Sharif has approved bifurcation of Peshawar Electric Supply Company (PESCO) into two Distribution Companies (Discos) i.e. Pesco and HAZECO, official sources told Business Recorder. Sharing the details, sources said, in 1998, pursuant to the strategic plan for WAPDA, approved by the Council of Common Interest in 1993, WAPDA’s Power Wing was restructured by creating independent power generation,…
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ISLAMABAD: Ministry of Energy (Petroleum Division) has directed Sui Northern Gas Pipeline Limited (SNGPL) to supply gas/RLNG to five export-oriented sectors without any subsidy. In a letter to Managing Director, SNGPL, Directorate General of Gas (Petroleum) Division has informed that no subsidy has been budgeted for five-export-oriented sectors during the current financial year by the government, therefore, SNGPL may raise…
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BAMBOLIM, India, July 21 (Reuters) – Major fossil fuel producers, including Saudi Arabia and Russia, on Friday opposed a proposal to triple G20 countries’ renewable energy capacity by 2030, three sources said. China, the world’s biggest emitter of carbon dioxide, as well as coal exporters South Africa and Indonesia, also opposed the plan. India, as current holder of the G20…
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KARACHI: The Pakistan Petroleum Dealers Association (PPDA) has agreed to suspend a planned strike until July 24 (Monday) after reaching an understanding with the government on increasing their margins. State Minister for Petroleum Dr Musadiq Malik held a meeting with the PPDA and agreed that there should an upward “reasonable revision” in dealers’ margins. After hours long parleys, the association…
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LAHORE: The Pakistan Solar Association (PSA) has claimed that there have been no alterations to the timings for peak and off-peak hours. According to a spokesperson of the association, PSA has been inundated with inquiries from member companies and stakeholders within the Pakistan solar industry concerning purported changes to the time of use tariff for customers of DISCOs (distribution companies).…
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ISLAMABAD: The federal government has taken swift action to address consumer-end tariff recommendations of power distribution companies (Discos), including K-Electric. The government has filed an ‘Instant Motion’ with the National Electric Power Regulatory Authority (Nepra) aiming at establishing a uniform schedule of tariff for power consumers by incorporating targeted subsidies and rationalising inter-distribution companies’ tariffs. Notably, on July 14, Nepra…
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KARACHI: China’s Shanghai Electric Power Company (SEP) has expressed renewed interest in acquiring K-Electric (KE), the integrated power firm based in Karachi, Pakistan. This latest submission comes after the previous intention to buy the company lapsed in June, due to unresolved issues that have persisted for eight years. SEP had first expressed its intention to buy KE in 2016 and…
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NEW DELHI: India and Sri Lanka said on Friday that they had agreed to improve economic ties by increasing cooperation in renewable energy and studying the feasibility of building an oil pipeline and a land bridge between the two countries. New Delhi will also help develop a port and an economic hub at Trincomalee, a city on Sri Lanka’s northeastern…
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ISLAMABAD: The government has decided to implement Prime Minister’s National Programme for solarisation of agri tube-wells project of Rs 377.2 billion in a phased manner and on equal sharing basis to be divided between federal government, provincial government and beneficiary farmers. On July 11, 2023, Ministry of Planning, Development and Special Initiatives briefed the Executive Committee of National Economic Council…
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