SBP’s deputy governor Jameel Ahmad reported to the Senate committee on finance that the company took huge exposure to one client and something wrong happened there as there were also backward and forward links in this case. However, he said the financial market regulator SBP had examined the episode and the banks had not committed any regulatory violations while extending…
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The US-based company, Excelerate Energy (EE), has refused to extend for a few weeks its deadline of August 31 for the government to retain the FSRU (Floating Storage Regasification Unit) Sequoia currently functional at the Engro LNG terminal, saying it is committed to its new deal for regasification of LNG in Brazil, so it needs the government’s response by the…
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The refinery policy is in the making for over a year. The idea of the policy is to incentivize new players to come in and jack up production of the country’s overall refining petroleum products to at least by cent percent, and to upgrade the existing five refineries to start production of Euro-5 specification products and also reduce the production…
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Prime Minister has sought an explanation from Secretary Petroleum Division for not giving priority to Pakistan Railways (PR) and Pakistan National Shipping Corporation (PNSC) in transportation of POL products, well-informed sources told Business Recorder. These directions were issued during a recent meeting of Federal Cabinet, when at least two Ministers lodged a complaint that Pakistan State Oil Company Limited (PSOCL) is…
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The first section of a massive new liquefied natural gas (LNG) plant bound for the Arctic Circle was loaded onto a cargo ship at Daishan manufacturing base in east China’s Zhejiang Province on Thursday. The 10,000-tonne unit will arrive in Murmansk in northwestern Russia in 25 days. With 13 more units to follow, they will form the Arctic LNG 2…
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Honda Atlas Cars is at the forefront when it comes to taking initiatives that are built to create a lasting impression on the environment. We are an environment-friendly brand and it is our dream to leave minimal footprint while making cars that are truly magnificent.Our cars are built to reduce carbon emissions with the entire Honda line up coming equipped…
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The district administration set a new record of planting 100,000 saplings in one go in the district on Friday. A tree plantation ceremony was held at Kaleem Shaheed Park, Narwala Road, in which 8,000 students of different government schools and 2,000 students of colleges planted 20,000 saplings in the park in tehsil city Faisalabad. During the same time, 16,000 saplings…
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The three-day technical talks between Pakistan and Russia on the Pakistan Stream Gas Pipeline (PSGP) project to be laid down from Karachi to Kasur ended here on Thursday with Moscow seeking clarity if the government owns or disowns the viewpoint of Special Assistant to Prime Minister (SAPM) on Petroleum Tabish Gauhar, opposing the two countries’ flagship project mentioned in his…
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Pakistan and Russia on Thursday agreed to follow the timelines laid down to successfully implement the Pakistan Gas Stream Pipeline project. According to a statement, the scheme has made a significant headway at the conclusion of first technical session parleys between the two sides. The technical session was held in Islamabad from August 24-26, 2021. The Russian delegation was led…
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The Federal Investigation Agency (FIA) has informed the Cabinet Committee on Energy (CCOE) that big fish were involved in the June 2020 oil crisis that were putting pressure on the agency. However, FIA officials said that Prime Minister Imran Khan had given the agency a free hand to catch the parties involved in the oil crisis. The country had faced…
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