ISLAMABAD: The government has decided to establish a specialised tribunal to resolve disputes expeditiously between industry and investors aimed at facilitating them onsite, well-informed sources told Business Recorder. The decision was taken at the first meeting of the working group, constituted by the SIFC in its sixth Executive Committee meeting held on October 24, 2023 under the chairmanship of Minister…
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ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq has described the energy sector as a nightmare for the country because government produces costly electricity and sells it at subsidised rate. He also underlined the need to bring about improvement in the taxation system. While talking to participants at the 12th National Balochistan Workshop, the caretaker prime minister said that there is a serious…
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SSGC initiates investigation, terminates employment contract ISLAMABAD: Sui Southern Gas Company (SSGC) has hired a company secretary who allegedly committed fraud in a private company earlier, leading to his termination from services. As the matter came to light, the disgruntled employees of SSGC, a public gas utility, wrote a letter along with relevant proof to company Board Chairperson Shamshad Akhtar…
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ISLAMABAD: The electricity distribution companies (Discos) operating under the Power Division on Tuesday conceded billing discrepancies highlighted by the power regulator Nepra in a recent inquiry report but downplayed the extent of the wrongdoings happening to consumers and attributed its veracity to the natural, human and technical factors. The “initial response” released by the Power Division comes days after it…
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ISLAMABAD, December 12, 2023: The Oil & Gas Development Company Limited (OGDCL) on Tuesday announced the revival of production at the Kunnar Pasakhi Deep (KPD) Field in a significant stride towards strengthening Pakistan’s energy landscape. This achievement is a testament to OGDCL’s commitment to addressing the decline in gas production and contributing to the nation’s socio-economic development.As part of its…
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DHAHRAN, Saudi Arabia, December 12, 2023 – Aramco, one of the world’s leading integrated energy and chemicals companies, today signed definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan Ltd. (“GO”). GO, a diversified downstream fuels, lubricants and convenience stores operator, is one of the largest retail and storage companies in Pakistan. The transaction is subject…
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ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) on Monday approved nine projects of different sectors worth over Rs 371 billion. Caretaker Federal Minister for Finance, Revenue and Economic Affairs Dr Shamshad Akhtar chaired the meeting of the ECNEC here on Monday. The meeting was attended by the caretaker Minister for Planning, Development and Special Initiatives Sami Saeed,…
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LAHORE: Noted air quality scientist Dr. Mike Bergin, who works for clean air and air around the world with the support of the US State Department, has said that Pakistan can improve its air quality if its works on an emergency basis like the Chinese city of Beijing for pollution-free air and air. However, Pakistan needs 10 to 15 years…
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LAHORE: Talking about the possibility of a gas tariff hike, Oil & Gas Regulatory Authority (Ogra) Chairman Masroor Khan has said costly liquefied natural gas (LNG) is being imported as domestic reserves deplete. Speaking at a public hearing on Monday on the Sui Northern Gas Pipelines Limited (SNGPL) petition for a review of its estimated revenue requirement and prescribed prices…
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KARACHI/ISLAMABAD: Attock Refinery Limited (ARL) has shut down two of its crude distillation plants due to reduced off-take of finished products by oil marketing companies (OMCs), raising concerns about gas shortages during the winter peak, officials said on Monday. The company’s decision follows reported inaction by the Oil and Gas Regulatory Authority (OGRA) and senior officials in the Petroleum Division…
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