ISLAMABAD: In a dramatic turn that may forestall an early settlement of tens of billions of dues between K-Electric and state-owned entities, Saudi investor Abdulaziz H. Aljomaiah and Special Assistant to the Prime Minister on Power Tabish Gauhar publicly accused each other of conflict of interest and attempts to fleece the state and Karachi-based power consumers. In a letter to Prime Minister Imran Khan, Mr Aljomaiah said that during his last month’s visit to Pakistan he had been given a clear understanding by the former and his cabinet members about…
Read MoreMonth: April 2021
PC fails to dispose of SIH Lahore, HEC in Q3
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 MoreExcess payments to LNG suppliers: Ex-MD PLL, CFO found guilty
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 MoreCoal mining woes
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 MoreKE issues: PM unhappy with MoE for delay in finalising modalities
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…
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