MD urges nation to reduce dependency on gas, transform consumption habits LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) Managing Director, Amer Tufail, addressed a press conference on Thursday, shedding light on the critical issue of gas theft and the company’s concerted efforts to combat this menace while ensuring efficient gas utilisation in the nation. Tufail began by highlighting a stark…
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K-Electric claims 100% dollar indexation for tariffs of solar power plants ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has voiced concerns over dollar indexation for solar power plants, which are being set up with the help of domestic financing in Karachi. Dollar indexation has long been a subject of debate as previous governments allowed linking dollar rate even to…
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LAHORE: Chairman WAPDA Lt Gen (Retd) Sajjad Ghani inspected the ongoing construction progress of the Mohmand Dam Project today and directed the contractor to ensure the completion of the diversion system during the upcoming low-flow season for the River Swat. During his visit, the chairman assessed various construction sites, including concrete works on the upper stilling basin of the spillway,…
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Pakistan Gasport is looking to buy a spot liquefied natural gas (LNG) cargo for November delivery, its chairman Iqbal Ahmed told Reuters on Thursday, which would be the country’s first spot LNG deal since June 2022. The country, facing a severe economic and foreign exchange crisis, has struggled to purchase the super-chilled fuel following a surge in prices after Russia’s invasion of Ukraine last year.…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday approved about 29 per cent increase in average generation tariff for Wapda’s hydroelectric stations to meet its Rs155 billion annual revenue requirement. Under the decision, the average generation tariff for FY23 has been allowed at Rs4.96 per unit when compared to Rs3.85 per unit in FY22. The Rs1.11 per unit…
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• Interbank, kerb rates edge closer to IMF’s 1.25pc target• SBP introduces structural reforms for exchange firms, raises minimum capital requirement to Rs500m from Rs200m• Orders banks to set up separate entities to conduct forex transactions KARACHI: The rupee rebounded in the open market on Wednesday as a crackdown on the informal currency market started to help the gap between…
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• Consumers to pay Rs3.51 per litre more on petrol, diesel• PIA’s request for bailout package, suspension of payments to CAA and FBR denied ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved per-litre hikes of Rs1.64 and Rs1.87 in margins to petroleum dealers and oil marketing companies (OMCs), respectively, on petrol and diesel sales and allowed…
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ISLAMABAD: The Finance Ministry Wednesday said the upward adjustment in energy tariffs and further increase in fuel prices would strain the inflationary pressures in coming months. In its monthly, “Economic Update and Outlook” for August 2023 released on Wednesday, the Finance Ministry said the two massive fuel price hikes witnessed in August 2023 and upward adjustment in energy tariffs would…
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Pakistani Origin IT Wizard Ahmed Ali Larik has been selected among the Top 100 Saudi visionary leaders by the prestigious platform DT100 for his extraordinary contribution in the transformation of the digital banking landscape. He is the only Pakistani who receive this recognition this year. Ahmed Ali Larik became limelight as an accomplished visionary professional who was a leading force…
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Leading banks actively engaged in foreign exchange business will establish wholly owned Exchange Companies Aim is to cater to the legitimate foreign exchange needs of general public. Exchange Companies and their franchisees will be consolidated and transformed into a single category of Exchange Companies In addition, the minimum capital requirement for Exchange Companies has been increased from Rs 200 million…
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