In a major development, the Board of Directors (BoDs) of Sui Southern Gas Company (SSGC) here on Friday night unanimously rejected the retention of FSRU Sequoia having re-gasification capacity of 780mmcfd, refusing to give a two-year waiver on buyout rights on its old FSRU (Floating Storage Regasification Unit) Exquisite as was demanded by Engro Elengy Terminal Private Limited (EETPL) a…
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Fears CNG price Will rise above petrol for first time in history of Pakistan. Stakeholders of the corn- which will increase the price pressed natural gas (CNG) sec- of CNG by Rs18 per litre in tor have voiced concern over Punjab and Rsz8 per litre in the unprecedented hike in the Sindh,” he said. price of CNC, citing that it…
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Pakistan’s Lakson Group and Middle Eastern budget carrier Air Arabia said on Friday they would launch a low-cost airline serving domestic and international routes from Pakistan. The new carrier, Fly Jinnah, will operate as a joint venture between the pair, they said in a statement, adopting the low-cost model operated by Air Arabia. The statement said the new airline would…
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The Alternate Energy Development Board (AEDB) has simplified certification regulations for installers of solar and wind projects in the country to facilitate promotion and expansion of renewable energy sources. The board of directors of AEDB has now enacted new Alternative Energy Development Board (Certification) Regulations, 2021, effective from Aug 30, 2021, as part of “Ease of Doing Business” and for…
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Owing to serious legal risks, the board of directors of the state-run Sui Southern Gas Company (SSGC) on Friday rejected Engro Elengy Terminal (EET) upgrade to a bigger floating storage and regasification unit (FSRU) and instead recalled original unit — Exquisite — back to work. The Exquisite FSRU operated by Excelerate Energy of USA had been on dry docking since…
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Encouraged by higher electricity consumption by industry and emerging gas shortages, the government is planning to offer a cheaper electricity tariff for domestic and commercial consumers in coming winters to shift space heating to power instead of gas. “Ministry of Energy is moving a proposal for seasonal emerging pricing for domestic & commercial consumers to encourage power consumption during off-peak…
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The Cabinet Committee on Energy (CCOE) has directed Power Division to develop methodology and criteria for strategic projects in consultation with the provinces under the National Electricity Plan within two months, official sources told Business Recorder. The Committee which approved Indicative Generation Capacity Expansion Plan on August 26, 2021, has not given any decision on category-III RE projects and directed…
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The PTI government’s dream to utilise the excess capacity of 150mmcfd on Engro LNG terminal in winter season is in tatters as the Engro Elengy Terminal Limited (EEPTL) here on Thursday told the Petroleum Division in plain words if the government wants to utilize the excess capacity of 150mmcfd of the existing state-of-the-art FSRU Sequoia, then Sui Southern Gas Company…
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The Petroleum Division has settled over a decade-old controversy about deemed duty collected by refineries, saying that they have invested Rs200 billion in projects. The ministry said that they had collected Rs200 billion and invested the same amount in their projects. The deemed duty collection has been a controversial subject for the refineries. Critics have said that they received billions…
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A steep fall in the value of Pakistani rupee against foreign currencies since July 2018 caused an addition of Rs2.9 trillion or one-fifth to the public debt during the past three years, the Ministry of Finance said on Thursday. The official reaction to media reports on the record surge in public debt, based on State Bank of Pakistan’s debt bulletin,…
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