Year: 2021

CEOs’ appointments made on merit, Khaqan tells NAB

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ISLAMABAD: Former premier Shahid Khaqan Abbasi has told the country’s top corruption watchdog body that he and his ministry made appointments of CEOs on merit in public limited companies. Abbasi was responding to NAB’s questionnaire which sought information under Section 19 of NAO, 1999 in an inquiry against officers/officials of government who according to the bureau were illegally appointed by his ministry in public companies and provision of funds in billions of rupees in violation of relevant rules. In response to the first question pertaining to alleged illegal appointment of…

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Plan to transfer Rs1060b burden to power consumers to cut circular debt

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Islamabad – The government is planning to transfer the burden of Rs 1060 billion to the power consumers during next 27 months (March 2021-June 2023) to reduce the circular debt (CD) under the Circular Debt Management Plan 2021 (CDMP-21). Under the Circular Debt Management Plan (CDMP) it is proposed that Rs 194 billion will be collected through quarterly adjustments, while Rs 866 billion will be collecting through increasing/ rebasing in power tariff which will be used to reduce the CD, official source told The Nation. The Cabinet Committee on Energy…

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Worldwide Reservoir Analysis Industry to 2026 – Increasing Investments in the Oil & Gas Sector Will Drive the Market

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The global reservoir analysis market is evaluated at US$7.737 billion for the year 2020 growing at a CAGR of 4.67% reaching the market size of US$10.174 billion by the year 2026. Reservoir analysis refers to the analysis of the rocks, pores and fluids inside a reservoir to optimise their production and recovery techniques. The methods and equipment used in the analysis develops subsurface data which helps in the analysis of the reservoir in order to increase the reliability of the reservoir. The market is majorly driven by the rapid increase…

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Ministry unable to appoint KPT chairman

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Despite the passage of three months, the Ministry of Maritime Affairs has failed to appoint a regular chairman of the Karachi Port Trust (KPT). With its failure to make the appointment, the ministry has once again sought an extension in the additional charge of KPT chairman given to the Ministry of Maritime Affairs secretary. The cabinet is scheduled to discuss the issue on Tuesday (today). KPT has a board of trustees, which comprises its members and the chairman is appointed under Section 6 (l) of the relevant Act by the…

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Govt to slash power subsidy

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Policymakers have approved power subsidy reform measures under which subsidy for 8 million consumers will come to an end in the first phase. As part of reforms, the government will increase the ceiling for lifeline consumers from 50 units to 100 units per month. At present, 22 million electricity consumers are getting subsidy. However, it will be limited to 13.9 million consumers, which will be only through the Ehsaas social welfare programme, following the implementation of reforms. The Economic Coordination Committee (ECC), in its meeting held last week, was told…

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