Day: April 5, 2021

ISLAMABAD: The Privatisation Commission (PC) has failed to dispose off Services International Hotel (SIH), Lahore and Heavy Electrical Complex (HEC) in the third quarter of financial year 2020-21 as per schedule though they are at very advanced stages, sources said. “We are all set to complete the privatisation of these public sector entities in current financial year. However, the process is slow due to the spread of third Covid-19 wave in the country,” said an official of PC. Privatisation Commission will revisit its deadline of SIH and HEC which expired…

Read More

ISLAMABAD: The multi-million dollars scam on excess payments to LNG suppliers has been put on way to its logical end as former managing director of Pakistan LNG Limited (PLL) Adnan Gilani and its Chief Financial Officer (CFO) Nadeem Nazir, currently made OSDs (official on special duty), have been declared guilty and held responsible for excess payments amounting to US$27.526 million in the head of port charges. Both the top officials of PLL that deals with import of LNG, have also been declared guilty of gross willful negligence and failure to…

Read More

The beginning of 2021 has increasingly seen accidents and deaths in coalmines and collieries in Pakistan. Only last month, two coalmines collapsed in Balochistan, home to large deposits of coal, causing many coalminers’ deaths. In the tragic accident on March 15, seven coalminers burnt to death in a huge fire triggered by methane gas blast inside a coalmine in Harnai District, while digging about 1,500 feet deep inside the mine, and two rescuers also lost their lives. Earlier, on March 12, six workers had died in the Marwar Coalfields in…

Read More

ISLAMABAD: Prime Minister Imran Khan is reportedly unhappy with Ministry of Energy (Power Division and Petroleum Division) for prolonged delay in finalisation of modalities required to resolve KE issues, well informed sources told Business Recorder. On January 21, 2021, Prime Minister had given ten days to SAPM on Power, SAPM on Petroleum, Secretary Power and Secretary Petroleum to finalise modalities of possible settlement along with all possible options including arbitration to be worked out with pros and cons. Both the Divisions were also warned that action may be taken for…

Read More

ISLAMABAD: The multi-million dollars scam on excess payments to LNG suppliers has been put on way to its logical end as former managing director of Pakistan LNG Limited (PLL) Adnan Gilani and its Chief Financial Officer (CFO) Nadeem Nazir, currently made OSDs (official on special duty), have been declared guilty and held responsible for excess payments amounting to US$27.526 million in the head of port charges. Both the top officials of PLL that deals with import of LNG, have also been declared guilty of gross willful negligence and failure to…

Read More