Year: 2021

ISLAMABAD: Minister for Privatization Mohammedmian Soomro on Wednesday expressed serious concerns over the delay in resolving issues related to Pakistan Steel Mills (PSM) privatisation. In a weekly meeting, Soomro said the issues should be taken up with ministry of industries. Revival of PSMC would be a great boost for the economy, he said. It was decided that the decision regarding the divestment of the shares of Oil and Gas Development Company (OGDCL) and Pakistan Petroleum Limited (PPL) will be finalised after the meeting of Cabinet Committee on Privatisation (CCoP). The…

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ISLAMABAD: The government has called a series of back-to-back meetings to facilitate allocation of pipeline capacity and tie-in points to new upcoming liquefied natural gas (LNG) terminals. The issue would be first taken up at the meeting of the Cabinet Committee on Energy (CCoE) on Thursday. To be presided over by Minister for Planning and Development Asad Umar, the CCoE would be given an update by the Ministry of Maritime Affairs (MOMA) on the progress of establishment of new LNG terminals. The MOMA would inform the CCoE that the board…

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KARACHI: A big chunk of 523 million shares in Byco Petroleum Pakistan Ltd was sold on Wednesday by IGCF Oil and Gas Ltd previously called Abraaj Mauritius. Yawar uz zaman, head of research at Pearl Secu­rities, said that the deal — which was in the making for quite some time — was sealed at a price of Rs9.46 per share. The divestment of Byco stock by Abraaj group was 9.8pc out of its 22pc holding in Byco, which the market watchers said was purchased in blocks by local brokers, companies…

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The Petroleum Division has asked the Oil and Gas Regulatory Authority (OGRA), Federal Board of Revenue (FBR), Board of Investment (BoI) and secretaries of concerned departments to furnish comments on the proposed new oil refining policy within 15 days for onward submission to the Cabinet Division, Profit learnt on Thursday. According to sources, the next meeting of the federal cabinet’s Economic Coordination Committee (ECC) is likely to take up the summary on the policy. The policy, once approved, will be included in the Finance Bill 2021-22 and will supersede all previous refining…

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