The Senate Standing Committee on Power chairman has said that the Sindh police and politicians are involved in electricity theft and employees of power distribution companies are complicit in this activity. “Electricity theft is taking place in colonies and offices of Sindh police,” said Senator Saifullah Abro, who chaired the committee meeting. He said that in Sindh politicians were running…
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The National Electric Power Regulatory Authority (Nepra) on Wednesday finalised about 21 paisa per unit reduction in electricity rates for ex-Wapda distribution companies (Discos) for a month under the monthly fuel cost adjustment (FCA). At a public hearing presided over by Nepra chairman Tauseef H. Farooqui, the regulator did not agree immediately to a Rs13.4bn worth of three year-old adjustments…
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The PLL issued a tender for the supply of eight cargoes for September and October, 2021. The lowest offers ranged from $13.78/mmbtu to $16/mmbtu. Gunvor Singapore offered $15.6/mmbtu for two cargoes to be delivered on September 6 to 7 and September 10 to 11, 2021. QP Trading offered $13.78/mmbtu for the delivery on September 16 to 17, and $13.98/mmbtu for…
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The country’s flagship project, Pakistan Stream Gas Pipeline (PSGP), will be financed through the Gas Infrastructure Development Cess (GIDC), an official said on Monday. During a meeting of the Senate Standing Committee on Petroleum, held under the chairmanship of Senator Muhammad Abdul Qadir, Petroleum Division secretary Dr Arshad Mahmood said that this joint venture between Russia and Pakistan is the…
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The government has made electricity 7.5 percent more expensive for domestic non-filer consumers whose monthly consumption is over Rs 25,000 per month. Lahore Electric Supply Company (Lesco), on its website, has intimated its consumers about the new tax (withholding tax) to be charged from July 1, 2021. “Dear customers! Government of Pakistan has imposed 7.5 percent tax on electricity bills…
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The cargo ship that has been stuck at Clifton beach in Karachi will remain stranded till August 15 as the engine of the vessel is too weak to function, said Special Assistant to the Prime Minister on Maritime Affairs Mehmood Moulvi on Monday. Speaking at a press conference alongside the Federal Minister for Maritime Affairs Ali Zaidi, Moulvi said the…
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The Central Power Agency Guarantee (CPPA-G) on behalf of ex-Water and Power Development Authority (Wapda) distribution companies has sought an increase of 80 paisa per unit in the power tariff for June under monthly Fuel Cost Adjustment (FCA) mechanism. The CPPA-G in a petition filed with the National Electric Power Regulatory Authority (Nepra) said the actual fuel charges remained Rs6.739…
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The fishy affairs of Hascol oil marketing company have landed in a parliamentary panel with a member levelling allegations of corruption worth Rs15 billion on the company. Senate Standing Committee on Petroleum member Afnanullah Khan alleged Hascol has been involved in corruption worth Rs15 billion. “Who is responsible for such massive corruption?” Senator Mohsin Aziz, another committee member questioned, adding…
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After an epic, pandemic-induced crash in 2020, the U.S. stock market has gone back to winning ways and is enjoying yet another bumper season in the current year. The S&P 500 is already up 16.0% in the year-to-date and constantly taking out fresh all-time highs. Few sectors of the market have, however, done better than the long-suffering energy sector. After…
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Byco Petroleum Pakistan Limited, Pakistan’s largest oil refining company, has won two awards in the categories of ‘The Foundations of Process Safety’ and ‘Oil Spill Management’ at the prestigious 7th International Awards on Environment, Health & Safety 2021.The awards were received by Mushtaq Ahmad Khokhar, General Manager- Production, Byco Petroleum andKaleem Ishaque, Senior Manager- SPM Operations, Byco Petroleum at a…
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