Engro Polymer and Chemicals Limited (EPCL), a subsidiary of Engro Corporation, said on Wednesday it has entered into an interim agreement with Sui Southern Gas Company Limited (SSGC) for the supply of gas till February 29, 2024. The company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday. The company said that the gas will…
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ISLAMABAD: The Finance Division has reportedly opposed a proposal of the Power Division regarding establishment of Performance Management Units (PMUs) in loss-making power Distribution Companies (Discos) under senior army officers (brigadiers), arguing it will further deteriorate governance within Discos, sources close to Secretary Finance told Business Recorder. The Power Division prepared a secret proposal for the federal cabinet to hand over…
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Investor will inject $1.5b into refinery to double its production capacity ISLAMABAD: State-run oil marketing company Pakistan State Oil (PSO) has agreed to sell its over 30% shareholding in Pakistan Refinery Limited (PRL) to a Chinese firm in a bid to attract an investment of $1.5 billion to double the refining capacity. PRL, in which PSO is a major shareholder…
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KARACHI: Sui Southern Gas Company Ltd (SSGC) said on Wednesday it’s going to convert SSGC LPG Ltd, a wholly owned subsidiary, into a public limited firm by offering its shares to the general public. The government-owned gas distribution company said it’ll initiate the process for the “issuance of 33.3 million shares” of the converted company by means of an initial…
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KARACHI: Federal Secretary Industries and Production Asad Rehman Gilani has said that while embarking on this journey with locally manufactured hybrid electric vehicles (HEVs) on our roads, let’s keep in mind, that the country must expedite exports to reduce the trade deficit. “I see no better partner to support this goal, than our long-term standing partner, Toyota,” he said while…
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ISLAMABAD: Perturbed over the power regulator’s inquiry indicting distribution companies (Discos) of malpractices and over-billing in the provision of electricity, the Power Division on Wednesday constituted another ‘independent and impartial committee’ to probe the findings and legalities of the Nepra report. The inquiry committee, constituted by the Power Division secretary to probe the Nepra’s inquiry report, will be led by…
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KARACHI: Pakistan’s Representative in German Emirati Joint Council for Industry & Commerce (AHK) Muhammad Usman has said that German government and businesses have been looking towards Pakistan in recent years for strengthening business and investment ties which was the basic reason for establishment of Pakistan’s desk at AHK in Dubai.“Germany desires to expand ties of German Small & Medium Enterprises…
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Dubai, United Arab Emirates, 5 December 2023 – Over 60 top executives and knowledge partners of the Alliance for Industry Decarbonization (AFID) held a roundtable at COP28 today and committed to raise decarbonization ambitions through tangible achievements by 2030. Members of AFID have individual reduction plans that combined aim to reduce 51% of direct and indirect greenhouse gas (GHG) emissions and grow the…
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Dubai, United Arab Emirates, 5 December 2023 – Today, 31 partners, including 25 global utilities and power companies that collectively serve more than 250 million customers, united for a landmark joint commitment to advance electrification, renewables-ready grids, and clean energy deployment in line with 2030 Breakthrough goals and a net zero future by 2050. Global industry giants, regional utilities, developers, and…
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