KARACHI: Pakistan Petroleum Limited (PPL) announced the approval of a 10-year Development and Production Lease (D&PL) for the Sui gas field, securing exclusive operational rights over a 455.80 sq. km area until May 31, 2025. This extension, effective from June 1, 2015, follows the expiration of the original 60-year Sui Mining Lease in 2015 and was granted under the Pakistan…
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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Senator Muhammad Aurangzeb, approved the Circular Debt Management Plan for FY 2024-25 on Monday, aiming to reduce power sector liabilities and improve financial stability. The ECC discussed various significant agenda items, including: Circular Debt Management: The Power Division presented the debt management plan for approval to tackle…
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ISLAMABAD: Despite the Task Force on Energy’s success in terminating or amending contracts with 13 Independent Power Producers (IPPs), negotiations with the remaining 18 IPPs from the 1994 and 2002 policies remain deadlocked, as both sides contest each other’s financial figures, sources revealed. The Task Force, chaired by Minister for Power Sardar Awais Khan Leghari and comprising key officials from…
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KARACHI: The Hyderabad Chamber of Small Traders and Small Industry (HCST&SI) President, Muhammad Saleem Memon, has appealed to Sui Southern Gas Company (SSGC) to guarantee a reliable and safe gas supply during the winter months. In a letter addressed to the SSGC managing director, Memon highlighted the seasonal rise in gas demand, which often results in a surge of unlicensed…
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ISLAMABAD: The Special Investment Facilitation Council (SIFC) has set a November 10 deadline for the Petroleum Division to resolve critical issues facing Pakistan’s oil refineries, hindering agreements on plant upgrades under the Brownfield Refinery Policy 2023. According to sources, a recent meeting at the Prime Minister’s Office, led by a working group on downstream policy issues under SIFC, emphasized adherence…
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ISLAMABAD: Prime Minister Shehbaz Sharif announced on Monday that Qatar and Azerbaijan have committed $5 billion in investments across Pakistan’s various sectors, with Qatar alone pledging $3 billion. Speaking at a federal cabinet meeting, PM Shehbaz shared insights from recent productive discussions with Saudi and Qatari leaders, covering key areas like solar energy, mining, minerals, and information technology. A delegation…
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