KARACHI: The Pakistan Refinery Limited (PRL) has said that it would again process Russian crude “when available at favourable commercial terms”, denying the impression that it has suspended the use of Russian crude oil because of processing issues. In a release on Sunday, the refinery insisted that Russian crude was successfully processed and the “spot deal was technically and commercially…
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ISLAMABAD: The coalition government headed by former prime minister Shehbaz Sharif in its last week reconstituted the board of directors (BoDs) of Sui Southern Gas Company (SSGC) by adding six new independent members. However, Dr Shamshad Akhter will continue to serve as chairperson of the board, a senior official of the Ministry of Energy told ‘The News’. According to the…
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Debt swells due to inefficiency, theft and losses faced by power distribution firms ISLAMABAD: The power sector circular debt jumped to Rs2.31 trillion by the end of June 2023 after revenue gains from a massive increase in electricity prices were lost to the inefficiencies, theft and losses faced by power distribution companies. Official statistics showed that during fiscal year 2022-23,…
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President, PM urge nation to follow Quaid’s golden principles President Dr Arif Alvi and outgoing prime minister Muhammad Shehbaz Sharif in their separate messages on Independence Anniversary extended heartfelt congratulations to the entire nation The nation is celebrating its 76th Independence Anniversary today (Monday) with utmost national fervour. The day dawned with a 31-gun salute at the federal capital and…
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Any attempt to disrupt Sino-Pak bond will fail: Beijing China reaffirmed its unwavering commitment to its strong friendship with Pakistan and the China-Pakistan Economic Corridor (CPEC), declaring that any attempt to disrupt these bonds would be unsuccessful. The Chinese Foreign Ministry’s spokesperson, Wang Wenbin, delivered this resolute message during a routine media briefing. “No attempt to sabotage the friendship between…
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Officials say company will increase renewable energy, Thar coal-based production KARACHI: Officials of K-Electric (KE), which supplies electricity to Karachi and its adjoining areas, have given assurances to consumers that their monthly power bills will remain stable around current levels even if inflation spikes unpredictably in the coming years. The company has devised a business strategy to increase the share…
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August 12, 2023: After resumption of power generation from 969 MW-Neelum Jhelum Hydropower Project couple of days ago, electricity generation by WAPDA hydel power stations crossed 8000 MW mark, as WAPDA contributes 8158 MW to the National Grid during peak hours last night. Effective operation and maintenance of WAPDA hydel power stations and better hydrological conditions are the other contributing factors…
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Balochistan Awami Party Senator Anwaarul Haq Kakar has been chosen as the interim prime minister of Pakistan, the Prime Minister’s Office (PMO) said on Saturday. The much-anticipated announcement comes after Prime Minister Shehbaz Sharif and outgoing Opposition Leader in the National Assembly (NA) Raja Riaz reached a consensus over Kakar’s name for the coveted post in a meeting today. According…
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ISLAMABAD: Pakistan has shared with the International Monetary Fund (IMF) a plan for containing gas sector circular debt (CD) estimated to have risen to Rs1.6 trillion. “The proposed plan is a mix of non-cash book adjustments and tariff rationalisation that could be implemented only after the concurrence of the IMF”, said a government official, adding that the plan was subject…
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Waseem Mukhtar has also served as Additional Secretary Power Division ISLAMABAD: Waseem Mukhtar, Special Secretary Cabinet Division, has been selected as the Nepra chairman for four years. Waseem Mukhtar, who also served as Additional Secretary Power Division, played an important role in coping with the power sector challenges, top sources in the PM Secretariat and Cabinet Division told The News.…
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