Pakistan to take another $1.4 billion loan to curb power sector arrears
Electricity shortages have eased in the last 12 months but years of mismanagement and funding shortfalls for subsidies have led to accumulated power sector payment arrears, or “circular debt”, soaring to 1.4 trillion rupees ($10.1 billion)
Petroleum Division likely to table revised gas tariffs before CCoE
The division was given 10 days to submit the findings of inquiry report into inflated gas bills to domestic consumersISLAMABAD: The Petroleum Division...
Power Division directed to form special team to address overbilling woes
The team will visit different locations to listen to the complaints regarding overbilling and will order remedial measures on the spotISLAMABAD: A sub-committee of...
Oil prices edge up on hopes for U.S.-China trade breakthrough
U.S. West Texas Intermediate (WTI) crude futures were at $53.76 per barrel at 2338 GMT, up 10 cents, or 0.2 percent, from their last settlement
Foreign banks eye financial advisory role in divestment of two LNG fired-power plants: Report
This divestment would rank as the country’s largest privatization deal since 2005 when Etisalat acquired a controlling stake in Pakistan Telecommunications Limited (PTCL) for $2.6 billion
CCoE gives approval for import of LNG
CCoE has instructed the petroleum division to move forward with the development of the LNG infrastructure needed to transport additional LNG from Port Qasim to Pak Land
SSGC, SNGPL to charge different tariffs for RLNG supply to domestic and industrial consumers
The management committee of SNGPL in a meeting decided to regularize enhanced loads of commercial and industrial consumers on condition they are prepared to bear the bills of enhanced loads to them at RLNG tariff
Govt will require to reduce borrowings from central bank, implement VAT under IMF programme: Report
According to official sources, the IMF will demand to attain a primary balance of budget into surplus, which is presently seeing a huge deficit
PM orders countrywide crackdown against gas theft
ISLAMABAD: Prime Minister Imran Khan on Tuesday ordered countrywide crackdown against gas theft, saying that gas worth Rs50 billion was being stolen annually while the...
Oil prices rise on OPEC output cuts, as U.S. sanctions bite
Analysts said markets are tightening amid voluntary production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and because of U.S. sanctions on Venezuela and Iran
Pakistan, IMF yet to agree upon specifics of reform agenda: Report
As per Finance Ministry spokesman Dr Khaqan Najeeb, discussions were ongoing with the IMF regarding energy financing flows, energy sector reforms, fiscal consolidation and debt profile
Pakistan expected to ink $12 billion investment deals with Saudi Arabia
Dawood said it was possible that an agreement for a $3 billion oil facility on deferred payments will also be signed during the Crown Prince’s visit
Non-berthing of PSO cargo reduces RLNG supply to 220 mmcfd: SNGPL
Total RLNG available was 600 MMCFD at this time and the weather condition at the port may become more severe by Tuesday and resultantly berthing of Pakistan LNG Limited upcoming cargo may get into difficulty
Balochistan received Rs23.9bn oil and gas royalty in five years
ISLAMABAD: Balochistan has been given Rs23.9 billion royalty on account of oil and gas during the last five years.According to the official data, the...
Mohmand Dam to be completed within five years, Senate told
'The proposed completion time was five years and eight months'ISLAMABAD: Mohmand Dam will be completed within five years' time, as the latest technologies have...
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Building and construction material exhibition fails to attract interest
LAHORE: The first two days of a three-day exhibition of building and construction materials held by The Institute of Architects of Pakistan (IAP) at Lahore’s...
