ISLAMABAD: The government has called a series of back-to-back meetings to facilitate allocation of pipeline capacity and tie-in points to new upcoming liquefied natural gas (LNG) terminals. The issue would be first taken up at the meeting of the Cabinet Committee on Energy (CCoE) on Thursday. To be presided over by Minister for Planning and Development Asad Umar, the CCoE…
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KARACHI: A big chunk of 523 million shares in Byco Petroleum Pakistan Ltd was sold on Wednesday by IGCF Oil and Gas Ltd previously called Abraaj Mauritius. Yawar uz zaman, head of research at Pearl Securities, said that the deal — which was in the making for quite some time — was sealed at a price of Rs9.46 per share.…
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The Petroleum Division has asked the Oil and Gas Regulatory Authority (OGRA), Federal Board of Revenue (FBR), Board of Investment (BoI) and secretaries of concerned departments to furnish comments on the proposed new oil refining policy within 15 days for onward submission to the Cabinet Division, Profit learnt on Thursday. According to sources, the next meeting of the federal cabinet’s Economic Coordination…
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Pakistan will get support from the Asian Development Bank (ADB), under its Country Partnership Strategy with Pakistan (2021–2025), to build liveable cities and climate and disaster resilience for mitigating climate change challenges and their negative impacts on agriculture and other sectors of the national economy. The bank in its Climate Risk Country Profile Pakistan has projected rises in the annual…
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Balochistan is the largest province of Pakistan in terms of area but unfortunately the most economically backward. It joined the Union of Pakistan voluntarily through a genuinely signed agreement. The most crucial and urgently required ‘Truth and National Reconciliation Commission’, is undeniably essential, to some extent indispensable, for this region, which is strategically located, straddling the volatile uplands of Eastern…
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The Cabinet Committee on Privatization (CCoP) is likely to pave way for outsourcing the management of power distribution companies (Discos) in its meeting scheduled for today at 12 noon. The CCoP will take up a two-point agenda. It will discuss appointing experts from the private sector in the management of distribution companies and will also discuss selling off the government’s…
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The Oil and Gas Regulatory Authority (OGRA) recommended the government to increase the price of petroleum products by Rs3.90 per liter, the government decided to maintain the prices, despite rising international prices. This has been done primarily by lowering the levy. The government has reduced the levy on petrol from Rs6.39 per liter to Rs4.74 per liter. Petroleum development levy…
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ISLAMABAD: Prime Minister Imran Khan on Monday gave a go-ahead for the creation of a dedicated security force for petroleum exploration on the pattern of China-Pakistan Economic Corridor (CPEC) security arrangement in order to offer lucrative incentives for enhanced production of domestic oil and gas resources. While presiding over a meeting of the energy sector, the prime minister also approved…
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PESHAWAR: The Khyber Pakhtunkhwa government has approved a new financial model for the Pakhtunkhwa Hydel Development Organisation (Pedo) allowing the public sector entity to engage private lenders to finance its future projects instead of relying on government funding. An official familiar with the matter told Dawn that the Pedo Policy Board approved the new financial model on May 7 after thorough overview.…
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EXECUTIVE SUMMARY: The recent blockage of the Suez Canal by the Ever Given tanker demonstrated the vulnerability of maritime chokepoints. The importance of maritime lanes to global trade makes them highly susceptible to interference and sabotage by terrorist organizations and rogue states. Global cooperation is essential to prevent such threats. The Ever Given, the massive tanker that recently blocked the Suez…
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