KARACHI: The Directorate of Post Clearance Audit (PCA) South has uncovered another trade-based money laundering involving over Rs16 billion under solar panel imports. According to an FIR, after an extensive investigation of a suspicious company, the Directorate found that this trade-based money laundering involved a cartel of 12 fictitious importers connected to this company. The trade-based money laundering is estimated…
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First half of Jan’24: POL products’ prices may be sustained
ISLAMABAD: The interim government may sustain the prices of petroleum products in the first half of January 2024 following a marginal increase in the prices of Brent globally. According to the estimates of Oil Marketing Companies (OMCs), the prices of petrol and kerosene oil (SKO) would go down by Re1 per litre, whereas, the prices of high-speed diesel (HSD) and…
Read MoreOGDCL Organizes Three-Day Free Surgical Eye Camp at Chak Naurang Oil Field in Chakwal
ISLAMABAD, December 28, 2023: The Oil and Gas Development Company Limited (OGDCL), as part of its Corporate Social Responsibility (CSR) initiatives, organized a three-day Free Surgical Eye Camp at its CSR Dispensary in Chak Naurang, located in the Chakwal district of Punjab in collaboration with the Al-Shifa Eye Trust Hospital. The eye camp, held from December 24 to 26, aimed…
Read MoreNEPRA considers hike of Rs4.66/unit
Attributes rise to FCA; will put additional burden of Rs33b on consumers ISLAMABAD: As the calendar flips to 2024, consumers are bracing themselves for yet another blow to their household budgets. The National Electric Power Regulatory Authority (Nepra) has signalled a potential surge in electricity prices, with a proposed increase of up to Rs4.66 per unit in the electricity bills…
Read MoreCPEC further strengthens Pak-China ties: Alvi
China is largest trading partner of Pak, also important source of FDI in country, says President President Dr Arif Alvi on Wednesday said the China Pakistan Economic Corridor (CPEC) had helped further expanding and strengthening the bilateral relations between the two countries. He expressed these views while talking to Pakistan’s Ambassador to China, Khalilur Rahman Hashmi who called on him…
Read MoreENI confirms LNG cargo in January after initial doubt
ISLAMABAD: Pakistan, which is facing a severe gas shortage that has crippled its power sector and industries, will receive a liquefied natural gas cargo from Italy’s ENI SpA on Jan. 18 as scheduled, averting a potential supply disruption, government offcials said on Wednesday. ENI, one of the long-term LNG suppliers to Pakistan, had earlier indicated that it might not be…
Read MoreOGDCL provides clean water
ISLAMABAD: State-owned Oil and Gas Development Company Limited (OGDCL) inaugurated a Reverse Osmosis Plant in a rural village near Rawalpindi, providing clean drinking water to the local community, a statement said. The plant, located in Gorsian village of Gujjar Khan tehsil, is part of OGDCL’s Corporate Social Responsibility (CSR) program, which aims to improve the living standards of the people…
Read MoreWorld’s richest families have become $1.5tr wealthier since last ranking
KARACHI: For the first time, the House of Nahyan has joined Bloomberg’s annual ranking of family fortunes and done so at the very top. With a $305 billion fortune, the Al Nahyans of Abu Dhabi topped the Waltons of Walmart Inc. by a cool $45 billion. Another new entrant, the Al Thanis, the royal family of Qatar, at No 5.…
Read MoreIndia initiates first rupee payment for oil to UAE
NEW DELHI: India has made its first-ever payment in rupees for crude oil obtained from the UAE, marking a significant move in the country’s initiative to promote the global use of its local currency. Officials have emphasized that this groundbreaking step is part of a broader strategy to explore similar deals with other oil suppliers, Indian media reported. The initiative…
Read MoreEfforts in place to mitigate load shedding
Recent load shedding on 25th and 26th of December was due to tripping of multiple grid stations in Multan region and other DISCOs. Due to fog, the grid stations of 132kv, 220kv and 500kv tripped. During same time the Hydel generation plummeted creating constraints to balance the system. NTDC system is facing a challenging time due to these extreme weather…
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