ISLAMABAD: Petroleum Division has proposed gas sale prices for Mari-based fertiliser plants at Rs.580/ mmbtu for feed stock and Rs.1,580/ mmbtu for fuel-stock from October 1, 2023, sources close to Petroleum Minister told Business Recorder. Petroleum Minister Muhammad Ali has tailored a plan to unify feed gas prices of fertiliser industry at par with industrial rate of Rs 1,260/ MMBTU instead…
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KARACHI: Pakistan refiner Cnergyico has imported the country’s first private-sector shipment of Russian crude oil, it said on Monday, as the cash-strapped nation takes advantage of Moscow’s discounts on its oil exports. The South Asian nation has started snapping up crude oil that Russia has discounted after its exports were banned from European markets over Russia’s invasion of Ukraine. Pakistan’s…
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Are unabated market reforms in the power sector delivering? LAHORE: Financial globalisation has driven the microeconomic reforms in the power sector in the last 30 years. After the unbundling of the Water and Power Development Authority (WAPDA), electricity generation is being done by WAPDA, Pakistan Atomic Energy Commission and a plethora of Independent Power Producers (IPPs). Transmission function is performed…
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Govt is charging Rs50 per litre petroleum levy on diesel, Rs60 on petrol ISLAMABAD: The government has further increased the margin of oil companies and dealers on petrol and diesel, as a result of which complete relief on petroleum products could not reach the people. In the caretaker government’s first step of providing relief to the inflation-hit people, the prices…
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Notification issued by Board of Investment says Special Investment Facilitation Council shall have three tiers ISLAMABAD: The government is to follow Chinese and Indonesian model with respect to utilisation of Armed Forces services in some specific areas. According to the notification issued by Board of Investment (BoI), Special Investment Facilitation Council (SIFC) shall have three tiers with the following composition:…
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ISLAMABAD: The caretaker government has decided to appoint Chief Executive Officers (CEOs) of power Distribution Companies (Discos) from Federal Service on need basis, and change Boards of all Discos. Well-informed sources told Business Recorder that Power Division is seeking Federal Government’s approval, in principle, for appointment of CEOs of Discos from Federal Service which includes Pakistan Administrative Service (PAS), Income Tax Group,…
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ISLAMABAD: The role and services of Pakistan Atomic Energy Commission (PAEC) for use of nuclear and other advanced techniques for diagnosis and treatment, have been profusely admired for eradication of cancerous and allied diseases as the views have been expressed at the 67th session of the general conference of the International Atomic Energy Agency (IAEA), where a signing ceremony at…
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ISLAMABAD, September 28, 2023: The Board of Directors of Oil & Gas Development Company Limited (OGDCL), in its meeting held on September 28, 2023, at Islamabad, announced the financial results for the year ended June 30, 2023, of fiscal year 2022-23. Net sales revenue clocked at Rs. 413.594 billion, translating to profit after tax of Rs. 224.617 billion, showing an…
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ISLAMABAD: The government on Wednesday reported the outstanding payables to the Chinese power producers at around Rs360 billion (about $1.25bn) as it pleaded to charge Rs1.83 per unit additional cost from consumers of ex-Wapda distribution companies (Discos) in October. The National Electric Power Regulatory Authority (Nepra), which held a public hearing on the request of the Central Power Purchasing Agency…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday approved up to Rs4.46 per unit increase in electricity rates for consumers of K-Electric for two months — October and November — to reduce the federal government’s subsidy payments to the Karachi-based utility, but withheld another 47 paise hike because of legal consequences. This is on top of another Rs3.28…
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