ISLAMABAD – The Cabinet Committee on State-Owned Enterprises has approved the winding up of ENAR Petrotech Services Limited (ESPL). The committee, chaired by Federal Minister for Finance & Revenue Muhammad Aurangzeb, also decided on restructuring and preparing two power distribution companies, Tesco and Qesco, for privatization. During a meeting at the Finance Division on Thursday, the committee reviewed summaries from…
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ISLAMABAD – Energy Minister Awais Leghari acknowledged in the Senate on Thursday that electricity prices are currently high but assured that through reforms, the government aims to provide cheaper electricity to consumers within the next 18 months. During the question-answer session, Minister Leghari addressed circulating news about a federal cabinet decision to increase electricity rates. He clarified that the regulator…
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ISLAMABAD – The Power Division has announced the implementation of new electricity tariffs starting from July 2024. Most consumers will see a slight increase in their monthly bills due to the updated tariffs, with the government providing a substantial subsidy of Rs440 billion to mitigate the impact. In a statement, the Power Division detailed that for the 16.8 million (58%)…
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ISLAMABAD – The ongoing dispute among petroleum dealers has intensified, with factions within the Pakistan Petroleum Dealers Association (PPDA) divided over a nationwide strike. The government has hinted at raising dealer commissions to mitigate the impact of turnover tax, while oil marketing companies (OMCs) are seeking a 60% increase in their profit margins. Strike Call and Division Abdul Sami Khan,…
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ISLAMABAD – The National Electric Power Regulatory Authority (Nepra) has announced a public hearing on July 8 to discuss the proposed increase in electricity tariffs, which could pass an additional Rs700 billion burden onto consumers in the current fiscal year. This increase, set to take effect on July 1, 2024, will see the average national tariff rise by around Rs5.72…
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Petroleum products would remain available across the country, the Petroleum Division and the Oil and Gas Regulatory Authority (Ogra) said on Thursday amid the petroleum dealers’ decision to shut down petrol pumps from Friday (tomorrow) morning. In a joint statement, the two government organisations directed oil marketing companies to ensure the supply of petroleum products. The Petroleum Division also instructed oil marketing…
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ISLAMABAD, Jul 4 (APP):Federal Minister for Power Awais Ahmed Khan Laghari on Thursday said that all DISCOs companies would be privatized in one and half year period. There had been flaws in the “distribution companies” and we are determined to rectify the system to provide relief to consumers, he said while talking to a private television channel. Economic growth had…
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KARACHI: The Directorate General of Mines and Minerals Balochistan has granted Mari Mining Company (Pvt) Limited (MMC) two exploration licenses for mineral exploration in Chagai District, Balochistan. In a notice sent to the Pakistan Stock Exchange (PSX) on Wednesday, MMC, a wholly owned subsidiary of Mari Petroleum Company Limited (MPCL), announced that it has been awarded exploration licenses EL-322 and…
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Karachi, July 3: Provincial Energy Minister Syed Nasir Hussain Shah announced that K-Electric, through the Sindh Transmission and Dispatch Company (STDC), will supply 40 MW of electricity to the National Steel Complex (NSCL) via a 132 kV transmission line. This announcement was made during a memorandum of understanding (MoU) signing ceremony held at the Sindh Energy Department office. Minister for…
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ISLAMABAD: The government on Wednesday approved a staggering 51% increase in electricity tariffs, forcing millions of poor households to bear an additional cost of Rs580 billion in this fiscal year. The hike, effective from July, is the highest in terms of percentage for lower-income groups. A total of 32.5 million consumers, primarily households, will face this unprecedented increase due to…
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