Day: December 17, 2021

Crisis of POL Products In The Offing As PRL Halts Operations

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The crisis of non-availability of POL products has started emerging on the scene as the Pakistan Refinery Limited (PRL) with capacity to refine 55,000 barrels per day of crude oil has shut down its operations to produce the POL products in the wake of non-availability of storage capacity, brimming with FFO (Furnace Fuel Oil). The PRL, in its official statement, announced the temporary refinery shutdown due to its operational and ullage constraints. All the refineries, including PARCO, BYCO, NRL, ARL, PRL and OCAC (Oil Companies Advisory Council) have been sensitising…

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Petroleum Pricing Some Respite

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petrol

The respite in global crude oil price finally offered a breather to retail gasoline prices, without the government having to cut down on petroleum taxes. The reduction of Rs5/ltr (3 percent) for December’s last fortnight is the first in seven fortnights. A significant depreciation in rupee’s value against the greenback has taken some of the sheen away, as PKR depreciation alone has caused Rs4/ltr to Arab light refined petroleum price in a little over two months. Recall that the Petroleum Levy (PL) has been restored as a prior action for…

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Six SEZs, Industrial Parks Being Gasified for Increased Industrial Production

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The two state-owned companies, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) are currently in process of executing at least six strategic projects to supply gas to special economic zones (SEZs) and industrial parks in their respective areas to give a boost to industrial production. The SNGPL is constructing a 12-kilometre (KMs) pipeline to supply 30 Million Cubic Feet per Day (MMCFD) gas to Rashakai Special Economic Zone.  “The project is expected to be completed by the end of December, 2021,” according to an official document…

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Chinese B2B Firm to Invest $50 Million in Pakistan

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Following betterment in ease of doing business in Pakistan, many international companies have expressed their intention to invest in the country and a handful of them are gearing up to pour initial investment. A Chinese internet-based business-to-business (B2B) platform has announced plans to inject $50 million into Pakistan to facilitate local retailers of building material. Under the investment plan, Global Building Material (GBM) would open its first branch in Lahore in December and also launch a mobile app to facilitate the business community, announced GBM Pakistan General Manager David Wei…

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Pakistan’s Auto Market Too Small For So Many Players

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Ahmed Kuli Khan Khattak, CEO of Ghandhara Nissan on Tuesday said country’s auto market was too small for so may new entrants, evident from the fact they have been unable to make any significant dent in the market share of the old ones. KARACHI: Ahmed Kuli Khan Khattak, CEO of Ghandhara Nissan on Tuesday said country’s auto market was too small for so may new entrants, evident from the fact they have been unable to make any significant dent in the market share of the old ones. Khattak, who is…

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