KARACHI (Nov 14): Caretaker Sindh Chief Minister Justice Maqbool Baqar has invited proposals for the establishment of an Archaeological Park at Chaukhandi Graveyard meanwhile he ordered the removal of encroachment around the graveyard and organization of from the would be removed from the graveyard to organise a fundraising musical evening at the site. He issued these orders during his visit…
Read MoreDay: November 14, 2023
Oil industry seeks revision of exchange rate formula for imports
ISLAMABAD: The oil industry is pressing the government to change the way it calculates the exchange rate for petroleum imports, saying the current formula exposes the private sector to huge losses due to exchange rate fluctuations. The industry has asked for a revision based on the ground realities so that it is not exposed to perpetual suffering due to the…
Read MoreMari says EWT production from Ghazij-2 Well has commenced
KARACHI: Mari Petroleum Company Limited has announced Extended Well Testing (EWT) production commencement from Well Ghazij-2 in Mari Development and Production Lease (D&PL) in Daharki, Sindh. Mari Petroleum Company Limited had earlier informed that the company has successfully drilled and tested the appraisal Well Ghazij-2 in Mari D&PL. It is further informed that Extended Well Testing (EWT) gas production from…
Read More‘Corruption’ in contract award: Power Division-Senate panel dispute deepens
ISLAMABAD: The wrangle between the Power Division and Chairman Senate Standing Committee on Power, Senator Saifullah Abro on ADB’s project of ACSR Bunting Conductor Lot II A over a reported suspicious contract has intensified and the latter has refused to withdraw recommendations of the Committee of October 17, 2023 including the letter written by Secretary Committee. “Letter has been written…
Read MoreHydroelectric sector: Wapda challenges Nepra’s tariff determination
ISLAMABAD: Water and Power Development Authority (Wapda) has challenged National Electric Power Regulatory AUTHOIRTY (NEPRA) decision on hydroelectric tariff determination for FY 2022-23, accusing the power sector regulator of denying justified costs. Wapda had sought increase of Rs 3.95 per unit on the basis of revenue requirement of Rs 123.315 billion for the FY 2022-23 whereas the regulator allowed an…
Read More‘Winter package’ not allowed to see the light of day
ISLAMABAD: The federal government has reportedly scrapped the proposed Winter Package for industry across the country after its failure to secure nod from the International Monetary Fund (IMF), well informed sources told Business Recorder. Finance Division had also termed the “shelved” four-month electricity ‘winter package’ for industry on incremental consumption as “vague and in violation of international commitments.” Power Division had…
Read MoreFPCCI Demands Rs. 18 – 20 Reduction for the Coming FortnightIrfan Iqbal Sheikh
Karachi (PR): Mr. Irfan Iqbal Sheikh, President FPCCI, has demanded that the federal government should announce a reduction of 18 – 20 rupees per liter in the prices of petroleum products as international oil prices are showing a declining trend despite the harrowing ongoing conflict and supply cuts announced by Saudi Arabia and Russia till December 2023. I can project…
Read More