KARACHI – In another blow for inflation-weary Pakistanis, the electricity prices are likely to go up from today as the power tariff will be jacked up to Rs30 per unit. The federal government is expected to issue a notification for the price hike. The above-mentioned price is exclusive of additional taxes. For the people using above 200 units, the per…
Read MoreAuthor: Admin
IMF Executive Board approves $3bn Stand-By Arrangement for Pakistan
The Executive Board of the International Monetary Fund (IMF) approved on Wednesday the new $3-billion Stand-By Arrangement (SBA) for Pakistan, which immediately allows the disbursement of about $1.2 billion.
Read MoreDiversifying Critical Material Supply Chains Minimises Geopolitical Risks
The energy transition requires a dramatic increase in the supply of critical materials, yet their supplies chains remain vulnerable to a range of geopolitical risks.
Read MorePRL Launches REUP to Boost Refining Capabilities,Urges Policy Support
Karachi, July 13, 2023 – Pakistan Refinery Limited (PRL) is embarking on an ambitious project to enhance and modernize its refining capabilities through the Refinery Expansion and Upgrade Project (REUP). This initiative aims to propel PRL into a sustainable future, producing cleaner and environmentally friendly fuels, while meeting the growing demands of the market. However, the absence of a comprehensive…
Read MoreDeugro Further Strengthens Wind Renewable Energy Efforts in Germany
Hamburg, Germany, July 13, 2023 – deugro is pleased to announce the appointment of Stefanie Schöttle-Christiansen as Head of Wind Renewable Energy Germany, deugro, effective July 1, 2023. The addition further underlines the company’s commitment to sustainability, and especially the wind energy efforts in Germany. In her new role, Stefanie Schöttle-Christiansen will ensure deugro continues to meet the growing demands…
Read MoreOGRA & MINISTRY OF ENERGY (PETROLEUM DIVISION) JOINTLY HOSTED MEETING WITH OIL INDUSTRY
Islamabad. The Oil and Gas Regulatory Authority (OGRA) and Ministry of Energy (Petroleum Division) jointly hosted the meeting with Oil Industry to deliberate on many challenges highlighted by the industry. The Oil industry representatives presented the sector’s concerns and submitted proposals to deal with the challenging business environment in the country. The submissions of the Oil Industry were discussed and…
Read MoreOMCs seek 100pc rise in margins on POL products
KARACHI: The oil sector has sought a 100 percent increase in the margins of oil marketing companies (OMCs) on petroleum products, citing a higher cost of doing business following a 20-year slump in diesel demand, The News learnt on Tuesday. Oil industry representatives held a meeting with the Oil and Gas Regulatory Authority (OGRA) on Tuesday and presented the sector’s…
Read MorePRL eyes $5 billion investment after refineries upgrade
KARACHI: Pakistan Refinery Limited (PRL) is eyeing $5 billion investment after an upgrade at all its existing refineries, which will result in 5 deep conversion refineries collectively capable of refining around 350,000 barrels per day (bpd) of crude oil, Tariq Kirmani, chairman of the board of directors at PRL, said in a statement. The company is making strides towards enhancing…
Read MoreIMF board to meet today to decide on $3bn loan agreement
The International Monetary Fund’s (IMF) executive board will meet today (Wednesday) to review the $3 billion stand-by agreement for Pakistan, which was finalised at the end of June. Pakistan expects the board to also release the first tranche of $1.1bn as part of the loan programme. The initial disbursement is contingent upon the board’s approval. Pakistan was absent from an earlier schedule…
Read MoreEcnec clears health, energy projects worth over Rs1tr
ISLAMABAD: The Executive Committee of the Economic Council (Ecnec) on Tuesday approved six projects with an estimated cost of Rs1.077 trillion including two mega country-wide projects in health and energy sectors. Federal Minister for Finance and Revenue Ishaq Dar presided over the meeting also attended by Commerce Minister Syed Naveed Qamar, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq…
Read More