Year: 2021

Cabinet scraps Mari dividend cap

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ISLAMABAD: The cabinet on Tuesday approved the removal of cap on dividend distribution by Mari Petroleum Company Limited (MPCL) in a bid to fetch better price for the government of Pakistan shares. The government plans to divest 18.39% shares in Mari Petroleum and the removal of dividend cap will help get a better price. The approval came during a meeting chaired by Prime Minister Imran Khan. Earlier, the Economic Coordination Committee (ECC) had approved the removal of cap on dividend distribution by Mari Petroleum. The Petroleum Division told the cabinet meeting that since its…

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KE makes demand for additional Rs40bn

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ISLAMABAD: K-Electric has sought increase in electricity rates on account of fuel cost adjustments for seven months and quarterly adjustments for nine months involving an additional revenue generation of about Rs40 billion. According to tariff petitions filed before the National Electric Power Regulatory Authority (Nepra), the Karachi-based private power utility has demanded fuel cost adjustments (FCAs) for seven months from June to December 2020. Of these, consumers have to pay higher adjustments for four months and get relief on account of lower fuel cost in three months. This is on…

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Private firms to import LNG by April

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Private companies will be able to bring and sell liquefied natural gas (LNG) to consumers of their choice by April this year, Special Assistant to Prime Minister on Petroleum Nadeem Babar told a delegation of the Asian Development Bank (ADB). He said that Pakistan had fully implemented the third-party access policy in order to utilise the idle capacity of LNG terminals with the help of private companies. In this regard, the cabinet on Tuesday approved the allocation of LNG terminal and pipeline capacity on a three-month rolling basis to the…

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Herd immunity against Covid-19 may not be achieved without vaccinating children

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Leading infectious diseases’ experts and vaccinologists have warned that herd immunity against the coronavirus cannot be achieved globally without vaccinating children, arguing that vaccinating the adults may prevent mortality, but the transmissibility of the virus would continue in the unvaccinated populations, especially children. They said studies to vaccinate children are underway although these studies started very late. They made it clear that the transmission of the virus will not stop even by vaccinating 70 per cent of the adult populations globally. “We may not be able to achieve herd immunity…

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Resolution of dispute over receivables, payables: K-Electric surrenders principle of reciprocity, int’l arbitration

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ISLAMABAD: In a goodwill gesture, the top management of K-Electric has withdrawn its main conditions of Principle of Reciprocity and arbitration through the London Court from its draft terms of reference (ToRs) to resolve once for all the decade old disputes over receivables and payables between the KE and the government entities. The shareholders of K-Electric from Kuwait, Dubai and Saudi Arabia have also given the nod to the top management to remove the clause of Principle of Reciprocity and agree to the local arbitration mainly on the demand of…

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