ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Tuesday rejected the baseless assertions of being partisan and biased toward emerging oil marketing companies, as made in the letter of the Oil Marketing Association of Pakistan (OMAP). “As the regulator of the oil industry, OGRA is fully aware of its responsibilities and diligently regulates the midstream and downstream petroleum sectors…
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There are vast mining opportunities in our country which will be realised through joint efforts, says Gen Asim ISLAMABAD: Chief of Army Staff (COAS), General Syed Asim Munir on Tuesday said the Pakistan government, along with state institutions, had ensured the establishment of Special Investment Facilitation Council (SIFC), in order to bring all stakeholders to a single platform. Addressing the…
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SINGAPORE: Pakistan LNG Limited (PLL) did not award a tender to commodities trader Trafigura, which had offered bids to deliver two spot cargoes of liquefied natural gas (LNG) to the South Asian nation next year, an industry source said on Tuesday. Trafigura had offered bids of $23.47 per million British thermal units (mmBtu) for an LNG import tender to be…
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ISLAMABAD: Pakistan and Barrick Gold Corporation on Tuesday agreed to pay the share of the government of Pakistan in Rupees for the investment in Reko Diq project, ARY News reported. The agreement came during a meeting between Prime Minister (PM) Shehbaz Sharif and a delegation of Barrick Gold Corporation, which called on him in Islamabad. The Barrick Gold Corporation’s delegation…
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KARACHI: Trade and industry leaders have said that almost Rs20 per litre increase in high-speed diesel (HSD) and petrol prices would put an additional burden on the industries and general public at a time when they are already hard-pressed with up to Rs7.5 per unit power tariff hike amid unprecedented inflation. They said the industrial and general consumers will be feeling the…
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Prime Minister Muhammad Shehbaz Sharif has stressed the need for making untiring efforts and hard work to realize the dream of our forefathers to put the country on path of development and prosperity. Addressing the inaugural session of “Pakistan Minerals Summit” in Islamabad today, he said today is the day to learn lesson from the past and move forward in…
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Finance Minister Ishaq Dar on Tuesday announced a massive hike of Rs19 in petrol and diesel prices, taking them to Rs272.95 and 273.40 per litre, respectively. In televised remarks, the finance minister said that the price of high speed diesel (HSD) and petrol in the international market had increased over the last 15 days. He said that the government had…
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KARACHI: Pakistan is unlikely to meet a target for Russian crude to make up two-thirds of its oil imports, despite attractive prices, hampered by a shortage of foreign currency and limitations at its refineries and ports, officials and analysts say. The cash-strapped South Asian nation became Russia’s latest customer snapping up discounted crude that has been banned from European markets…
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ISLAMABAD: Pakistan and China, on Monday, signed six memorandums of understanding (MoUs) to further enhance bilateral cooperation and promote economic relations between the two countries during the visit of Vice-Premier He Lifeng. Under the 10–year celebrations of China-Pakistan Economic Corridor (CPEC), Pakistan and China have signed MoUs during a ceremony held at the Prime Minister’s Office after a meeting between…
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ISLAMABAD: The coalition government of Pakistan Muslim League-Nawaz (PML-N), on Monday, claimed that it settled Rs171 billion tariff differential claims of K-Electric (KE) besides reduction of Rs157billion in power circular debt in the last 15 months. Addressing a news conference here on Monday, Minister for Power Khurram Dastgir claimed that the government had added 5,063-MW electricity to the national grid…
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