ISLAMABAD: Pakistan’s energy sector circular debt has jumped to Rs 5.725 trillion as of November 2023, of which share of power sector stood at Rs 2.703 trillion whereas contribution of gas sector at Rs 3.022 trillion, sources close to caretaker Minister for Power and Petroleum told Business Recorder. The caretaker minister has prepared an innovative plan to reduce circular debt of…
Read MoreAuthor: Admin
RLNG price cut by 8pc for January
ISLAMABAD: With system losses touching a massive 14.5 per cent, the Oil and Gas Regulatory Authority (Ogra) on Thursday notified up to 8pc reduction in the sale price of regasified liquefied natural gas (RLNG) for two Sui gas companies — SSGCL and SNGPL — for the current month with effect from Jan 1 owing to lower international prices. The RLNG…
Read MoreIMF debt dilemma looms after Pakistan election
Baqir served as governor of the State Bank of Pakistan (SBP) from 2019 till 2022 LONDON: The International Monetary Fund (IMF) faces tough choices on how to deal with Pakistan after the February 8 general election and how to assess the country’s debt situation, former central bank governor Reza Baqir said. The government secured a $3 billion loan programme with…
Read MoreBan on plastic bags being enforced across Sindh, claim officials
They said Sepa’s regional and district officers visited markets and bazaars to reprimand vendors dealing in banned plastic bags On the directives of caretaker environment minister Arshad Wali Muhammad, the Sindh Environmental Protection Agency (Sepa) has started implementing the ban on non-degradable plastic bags in the province, while action is also being taken against hospitals violating environmental laws, officials said…
Read MorePakistan, Dubai ink $3 billion pacts at Davos
ISLAMABAD: Pakistan and Dubai on Thursday inked two agreements worth over $3 billion on cooperation in railways, economic zones and infrastructure projects. According to an official press release, the inter-governmental framework agreements were signed to strengthen relations in the marine and logistics sectors, including the establishment of a dedicated freight corridor and economic zone near Karachi. “The rail-based dedicated freight…
Read MorePetroleum Division strongly denounces vilification campaign in media against SSGC Chairperson, Board of Directors
This is about recent news items circulating in electronic, print and social media concerning Sui Southern Gas Company and its Board of Directors.The Petroleum Division condemns the malicious campaign against the SSGC, its chairperson and its board of directors.Dr. Shamshad Akhter along with the Board members has successfully led the organization since her initial appointment in 2019. Under her visionary…
Read MoreOGRA DETERMINES RLNG PRICE
Islamabad. The Oil and Gas Regulatory Authority (OGRA) in accordance with the Policy Guidelines of the Federal Government has determined the Regasified Liquified Natural Gas (RLNG) prices for sui companies with effective from January st, 2024 as under: The decrease in RLNG prices is due to decrease in DES price. The RLNG price notification for the month of January, 2023…
Read MoreIT exports surge 23pc y/y to record $303m in December
KARACHI: The Information technology (IT) exports surged to a record high of $303 million in December, up 17 percent month-on-month and 23 percent year-on-year, industry data showed on Wednesday. The IT exports in December were also higher than the last 12-month average of $222 million, reflecting the strong performance of the sector, brokerage Topline Securties said in a report. The…
Read MoreOil down over strong US dollar
ANKARA – Oil prices dipped on Wednesday amid concerns over China’s economic growth and the strength of the US dollar. The international benchmark crude Brent traded at $77.68 per barrel at 0723 GMT, a 0.77% decrease from the closing price of $78.29 a barrel in the previous trading session on Tuesday. The American benchmark, West Texas Intermediate (WTI), traded at the…
Read More330MW Thar coal-fired project: PPIB to conduct ICB for sale of power to KE sans GoP guarantee
ISLAMABAD: Private Power and Infrastructure Board (PPIB) has decided to conduct International Competitive Bidding (ICB) for an Independent Auction Administrator (IAA) for the 330 MW Thar coal power project for sale of electricity to K-Electric (KE) as a private power purchaser without GoP guarantee, official sources told Business Recorder. Sharing the details, sources said, M/s Siddiqsons Energy Limited (SEL), the developer…
Read More