WAPDA’s debt surged 331pc by end of December 2016: SBP
KARACHI: A recently released report by State Bank of Pakistan revealed Water and Power Development Authority (WAPDA), debt surged by 331 percent,...
Fatima Energy to be investigated for receiving “special favours”
Islamabad: A four-member committee has been established by cabinet division to investigate misconduct in inter-changeability of Fatima Energy Limited from co-generation policy...
Pakistan to suffer severe LPG crisis if advance tax, regulatory duty not resolved
ISLAMABAD: All Pakistan LPG Distributors Association (LPGDA) Chairman Irfan Khokhar Tuesday underlined the need for withdrawal of 5.5 per cent advance tax...
Byco successfully begins operations at reformer of oil refining complex
LAHORE: A bourse notification filed Tuesday by Byco Petroleum disclosed operations at its reformer of oil refining complex Il (ORC Il) have...
Oil prices tumble 1 percent, as global financial markets turbulent after rout
SINGAPORE: Oil prices dropped by more than 1 percent on Tuesday, extending falls from the previous session as global financial markets tumbled...
ISGSL MD’s 3rd consecutive appointment raises eyebrows
ISLAMABAD: Nepotism is allegedly ruling the roost in Petroleum Division of the Energy Ministry, as Mobin Saulat is appointed as Inter State...
Engro set to benefit from coal extraction, despite environmental concerns
As the rest of the world moves away from non-renewable sources of energy, Engro, Pakistan’s largest private-sector conglomerate, expects to benefit from...
Sindh demands adequate representation on board of new split-up gas companies
ISLAMABAD: In a breakthrough of proposed splitting up of gas distribution companies, the Sindh government has given its conditional nod given provinces...
Oil prices dip, as US dollar surges
NEW YORK: Oil prices fell on Friday as the dollar surged following strong U.S. jobs numbers, though compliance with output cuts by...
Machike-Tarujabba oil pipeline being laid to avoid tragedies like Ahmedpur East
ISLAMABAD: Managing Director Inter State Gas Systems (Pvt) Limited (ISGSL) Mobin Saulat Friday said laying of 427-kilometer Machike-Tarujabba oil pipeline would help...
Govt may withdraw power subsidy to industries
ISLAMABAD: The Rs3 per unit (KWh) subsidy extended to the industrial sector granted by the former Prime Minister Nawaz Sharif in 2015...
Heads of electric supply companies removed over skyrocketing losses
ISLAMABAD: The Power Division has removed from position heads of four electric supply companies of the country for not containing losses in their...
Mega Conglomerate to acquire 15.8 percent stake of Dawood Hercules in Hubco
LAHORE: In another big acquisition news, Mega Conglomerate (Pvt) Ltd is set to acquire 15.8 percent stake that Dawood Hercules Corporation Limited...
Oil prices remain steady, after OPEC’s strict compliance with supply reduction pact
TOKYO: U.S. oil prices extended modest gains on Thursday as OPEC’s strong compliance with a supply reduction pact offset news that U.S....
Power consumers bearing the cost as Disco losses soar to Rs213 billion
ISLAMABAD: Power distribution companies have incurred over Rs213 billion in line losses over the past year, as power consumers bear the brunt...