August 2020
Month: August 2020
SITE Association Body calls for restoration of gas
SITE Association of Industry President Suleman Chawla on Friday expressed deep concern over low gas pressure in SITE area of Karachi and urged Sui Southern Gas Company (SSGC) to immediately restore gas to the industrial sector with required pressure; otherwise, production will come to a complete halt. In a statement, he mentioned that for the last three days, industrialists were facing severe low gas pressure due to which production was badly affected, especially for the exporters. Chawla added that industries were already fighting with the Covid-19 pandemic for the last…
Read MoreGovt forms panel for LNG terminals
ISLAMABAD: The government has formed a committee to take policy decision in consultation with liquefied natural gas (LNG) terminal developers for utilising idle capacity of the terminal operators. The Pakistan Tehreek-e-Insaf (PTI) government had approved utilisation of the idle capacity of the existing LNG terminals by private parties in July 2019 but not a single ship could be brought by the private sector due to monopoly of state-run companies. The private sector has been eager to import LNG for its consumption but has not been able to do so due…
Read MorePublic offerings of OGDCL, PPL, PRC shares approved
ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) on Friday approved divestment of government stakes in Oil and Gas Development Company Ltd (OGDCL), Pakistan Petroleum Ltd (PPL) and Pakistan Reinsurance Company Ltd (PRC) through public offerings. The CCoP meeting, chaired by Adviser to PM on Finance and Revenue Abdul Hafeez Shaikh, approved public offering of up to 7pc, 10pc and 20pc shares of OGDCL, PPL and PRC, respectively. In addition, the CCoP also approved transaction structures of four public sector entities — Services International Hotel, Lahore, House Building Finance Company Limited,…
Read MoreTurkey announces historic gas discovery in Black Sea
ISTANBUL: President Recep Tayyip Erdogan on Friday said Turkey had made a historic discovery of gas in the Black Sea, but would still speed up contentious exploration in the Mediterranean that has pitted it against Greece and the EU. Turkey hopes the discovery can help wean it off imported energy, including from Russia, which comes at a high cost at a time when the local currency is weakening and the economy is more fragile because of the coronavirus. Erdogan said the 320-billion-cubic-metre deep sea find was made at a site…
Read More
