Replaced five independent directors of company without holding elections ISLAMABAD: The last Pakistan Democratic Movement (PDM) government illegally replaced five independent directors of Sui Northern Gas Pipelines Limited (SNGPL) towards its fag end without holding their elections, creating a legal challenge for the firm. The matter suddenly got attention this week after the Lahore High Court (LHC) granted an interim…
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ISLAMABAD: A meeting of the Senate Standing Committee on Power has decided to take a detailed briefing on the generation and distribution of electricity to provinces after it was informed that significant losses are being faced due to a lack of cooperation by the provinces. The meeting presided over by Senator Saifullah Abro on Tuesday, was informed that the Power…
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Cement-maker expects to save half a billion rupees each year KARACHI: Lucky Cement has kick-started its second captive solar power plant for its own consumption with the aim of reducing costs and continuing to stay in profit under a challenging macroeconomic working environment in the country. The construction material manufacturer said in a notification to the Pakistan Stock Exchange (PSX)…
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Boost long-term contracts with Qatar, US suppliers by nearly 50% SINGAPORE/LONDON: China’s liquefied natural gas (LNG) importers are starting up or expanding trading desks in London and Singapore to better manage their growing and diversified supply portfolios in an increasingly volatile global market. The beefed-up trading presence of Chinese importers puts them in direct competition with such global heavyweights as…
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Gwadar transformed into thriving modern city, says Chinese firm chairman LAHORE: China Overseas Port Holding Company (COPHC) Chairman Yo Bo has emphasised that Pakistan’s economic circumstances were primarily responsible for delay in China-Pakistan Economic Corridor (CPEC)’s development. In a meeting at the Lahore Chamber of Commerce and Industry (LCCI), Yo shed light on the transformative progress of Gwadar under CPEC.…
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Caretaker Finance Minister Shamshad Akhtar visits Federal Board of Revenue to review progress so far on implementation of $3 billion Stand-by-Arrangement of the International Monetary Fund ISLAMABAD: Caretaker Finance Minister Shamshad Akhtar has held her first meeting on power sector after assuming the charge and visited Federal Board of Revenue (FBR) to review progress so far on implementation of $3…
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PALSP urges Nepra to facilitate renewable energy integration into grid ISLAMABAD: Pakistan Association of Large Steel Producers has asked NEPRA to facilitate renewable energy integration into the grid by B4 industrial consumers to incentivize industries to invest further in renewables. In a letter addressed to NEPRA, PALSP which is the leading representative body of steel sector, urged the Authority to…
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Quetta: Pakistan Engineering Council (PEC) is a national apex regulatory body constituted through an enactment of the Parliament (PEC Act 1976) to regulate the engineering profession. The Council as per its Act has also special mandate to act as a “Think Tank to the Federal Government” to aid in all matters pertaining to engineering profession and policies required for the…
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Only tariff hike targeted under foreign loans-linked reforms, other critical issues ignored ISLAMABAD: The circular debt is projected to increase by another Rs545 billion by March next year despite a surge in electricity prices as foreign loans pegged with the so-called power sector reforms are limited to only increasing prices and ignore other critical issues. Pakistan eyes another loan of…
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• Calls for higher natural gas prices, steps to implement cross-border pipelines• Insists new terminal will be needed by 2025 to store imported LNG ISLAMABAD: The Planning Commission has asked the government to replace the expensive liquefied petroleum gas (LPG) with relatively cheaper liquefied natural gas (LNG), increase domestic natural gas prices and take immediate steps to implement cross-border gas…
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