The Privatisation Division has held a meeting with JP Morgan officials in the backdrop of the privatisation of two RLNG power plants of Haveli Bahadar Shah and Balloki. The JP Morgan is one the world’s largest investment banks and advising the consortium of Qatar Investment Authority (QIA), which showed keen interest for the privatisation of the NPPMCL. The senior representatives…
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PAKISTAN’S cash-strapped government has been forced to buy the priciest LNG shipment from a Qatari trader for delivery later this month to avoid blackouts. Pakistan must pay a huge amount for its energy needs following default by two suppliers on their long-term commitments to supply one LNG cargo each per month at the fixed rate of 11.95pc and 11.63pc of…
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With supply shortages and unsustainable average cost of gas, the government is going to withdraw subsidised gas rates of $6.5 per unit for the industrial sector as first part of a three-phased tariff rationalisation plan. A senior government official told Dawn that Ministry of Energy (Petroleum Division) had already moved a summary to the federal cabinet for ending subsidised gas…
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Business community have rejected yet another record increase in prices of petroleum products and urged the government to revise its decision forthwith. Traders while talking to this scribe on Sunday said that a relief package was announced by Prime’s Minister during address to nation, but at the same time, the government has continuously increased prices of petroleum commodities, which was…
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Top sources said that the Russian delegation that was due to start talks on November 9-12 in Islamabad to finalize the remaining points of the shareholding agreement has been stopped by the authorities in Moscow. They took the letter, the sources said, from the Petroleum Division as a shocking surprise and called back the Russian delegation to Moscow that was…
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National Electronic Power Regulatory Authority (NEPRA) on ratified the government s decision to increase the price of electricity paving way for increase in the basic price of electricity. The NEPRA has decided to increase the price of electricity by Rs 1.68 paisa for domestic consumers and Rs 1.39 paisa for commercial and industrial consumers. According to officials, the increase will not…
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The state-run Pakistan LNG Limited (PLL) on Friday received yet another set of most expensive bids for two cargoes of liquefied natural gas (LNG) for delivery in third and last week of the current month. Earlier this week, PLL had invited emergency bids to make up for the sudden gas shortage caused by default on the part of two long-term…
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However, the dealers warned that they would go on strike for an indefinite period from November 20 if the government did not honour its commitment. Speaking at a news conference, Sarhad Petroleum and Cartage Dealers Association Chairman Abdul Majid Khan said the government had promised to raise their profit margin, therefore, the association was going to postpone its strike for…
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Prime Minister Imran Khan claimed again on Friday that Pakistan still had the cheapest petrol prices in the region. The Prime Minister said that there was uproar in India too over petrol prices as there is Rs150 price of per litre petrol as compared to Pakistan where it is the lowest at Rs146. He expressed these words while addressing a…
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THAT is what things have now been reduced to: jokes and desperation. Wednesday saw an example of each. It was a joke when the National Accountability Bureau (NAB) told a Senate committee that it had recovered up to Rs821.5 billion “since its inception” while the finance ministry told the same committee in the same hearing that only Rs6.5bn had been…
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