ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar, who is currently visiting China to attend an international forum, will be visiting the United Arab Emirates (UAE) next month. He will attend the United Nations climate change conference being held at the Dubai Expo Centre. Diplomatic sources told The News on Monday that Pakistan had conveyed UAE authorities its consent to take part…
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ISLAMABAD: The Apex Committee (AC) of Special Investment Facilitation Council (SIFC) has directed Ministry of Foreign Affairs (MoFA) and Petroleum Division to expedite resolution of issues of Saudi Aramco and Pakistan State Oil (PSO) and TAPI gas pipeline, well informed sources told Business Recorder. Minister for Energy Muhammad Ali has already dashed to China direct from Russia, as advance team of…
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ISLAMABAD: Ministry of Planning, Development and Special Initiatives has stated that probability of achieving financial closure of 700-MW Azad Pattan Hydropower project and 1124-Kohala Power project was low, official sources told Business Recorder. This information was shared with the Ministry of Foreign Affairs during a meeting convened to finalise agenda for the visit of caretaker Prime Minister Anwaar-ul-Haq to China. Pakistan…
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ISLAMABAD: Rising with each passing day, the receivables of Pakistan State Oil — the country’s largest firm by revenue — have crossed a record Rs755 billion by Monday or about 21pc of its annual revenue, virtually halting its strategic business expansion. In its latest report of its financials submitted to the federal government, the country’s largest fuel supplier reported that…
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KARACHI: Shell Pakistan Ltd (SPL) said on Monday it has received a public announcement of intention from UK-based Prax Overseas Holdings Ltd to buy its 77.42 per cent shares, which are currently held by the oil firm’s foreign sponsor. The potential acquirer is a British investment firm with its entire shareholding resting with fuel supplier State Oil Ltd. The energy…
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Ask govt to do away with gas outages, formulate sustainable policy KARACHI: While welcoming a significant reduction in petrol price, businesspeople have underlined the need for evolving a stable policy, slashing electricity and gas tariffs, and eliminating gas outages and painfully low pressure. “If the government formulates a sustainable policy for at least three months, this decrease will benefit the…
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