Only tariff hike targeted under foreign loans-linked reforms, other critical issues ignored ISLAMABAD: The circular debt is projected to increase by another Rs545 billion by March next year despite a surge in electricity prices as foreign loans pegged with the so-called power sector reforms are limited to only increasing prices and ignore other critical issues. Pakistan eyes another loan of…
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• Calls for higher natural gas prices, steps to implement cross-border pipelines• Insists new terminal will be needed by 2025 to store imported LNG ISLAMABAD: The Planning Commission has asked the government to replace the expensive liquefied petroleum gas (LPG) with relatively cheaper liquefied natural gas (LNG), increase domestic natural gas prices and take immediate steps to implement cross-border gas…
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2021 was a better year for Hascol Petroleum Limited (PSX: HASCOL) as the company had witnessed slowdown in losses. However, 2022 has been lethal for the oil marketing company, as its losses increased staggeringly. With 90 percent year-on-year rise, the company incurred over Rs14 billion unconsolidated loss after tax in CY22, though the losses in 2022 were less than the…
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DUBAI: After riding a fossil-fuel boom for decades, Gulf Arab states are eyeing “green” hydrogen as they try to transition their economies and ease the climate crisis at a stroke. Oil producers Saudi Arabia, the United Arab Emirates and Oman are investing heavily in the climate-friendly fuel in a search for alternative revenues to crude and gas. Green hydrogen, which…
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ISLAMABAD: The federal government has revised incentives in the recently approved brownfield refining policy, capping the utilisation of funds to be collected from tariff protection at 22 per cent for the import of used refining equipment and 25pc for new equipment to upgrade infrastructure. The outgoing government approved the new policy earlier this month under which existing refineries will be provided benefits…
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Xi’an, China, August 11, 2023 – LONGi, the world leading solar technology company, announced that its emission reduction targets were approved by the independent Science Based Targets initiative (SBTi). With the approval, LONGi has become one of more than 4600 companies worldwide that have joined the SBTi and set science-based targets. Among them, LONGi is the first Chinese solar photovoltaic…
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Sindh Governor Kamran Tessori administered the oath during a ceremony held at Governor House in Karachi.The members of the caretaker cabinet who took the oath include:Brigadier (retd) Haris Nawaz,M. Younus Dagha,Mubeen Jumani,Ishwar Lal,Arshad Wali Muhammad,Dr Junaid Shah,Omar Soomro,Dr Saad Khalid Niaz,Khuda Bux Marri,and Mrs Rana Hussain. Caretaker Chief Minister of Sindh, Justice (retd) Maqbool Baqar was in attendance. Also present…
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KARACHI: The Bin Qasim Association of Trade & Industry (BQATI) has asked the Sui Southern Gas Company (SSGC) to provide a stable and consistent supply of gas for the industrial sector, especially for the continuous industrial units that require uninterrupted operations. BQATI President Rasheed Janmohammed made the request during a meeting with SSGC Managing Director Imran Maniar at the BQATI…
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ISLAMABAD: A plan to reduce the gas sector circular debt by Rs543 billion through a dividends ploughing back scheme has drawn flak from major gas producer — OGDCL — who says it was not consulted by the previous PDM government. The proposal, which was shared with the International Monetary Fund (IMF), involves the government injecting funds into the state-owned gas…
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LONDON: The Grand Court of the Cayman Islands has granted partial relief to Infrastructure and Growth Capital Fund SPV21 (IGCF) but also allowed the Pakistan proceedings to continue with the government of Pakistan through the Privatization Commission and Power Division Secretaries, Nepra and SECP in the battle for the takeover of Karachi Electric (KE). Mr Justice Segal, Judge of the…
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