Year: 2021

Repayment of GHPL’s loan: PD allowed to utilise GIDC funds

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ISLAMABAD: The Federal government has allowed Petroleum Division (PD) to utilise funds from the Gas Infrastructure Development Cess (GIDC), amounting to Rs1.717 billion for the repayment of Government Holdings (Pvt) Limited (GHPL)’s loan, well informed sources told Business Recorder. The Inter State Gas Systems (Pvt) Limited (ISGSL) was the nominated entity of the Government of Pakistan (GoP) for the implementation of various strategic gas infrastructure projects of international stature on a G-to-G basis. The Company was established in 1996 with the authorised capital of Rs10 million. The permitted establishment /…

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Time to stock up

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Arguably the most successful investor of all times, Warren Buffett, once said there was no way “to predict what the market would do in the short term”. The same holds true for the Pakistan stock market in 2021. What really is certain is the uncertainty that pervades the market. One thing about stock market analysts and strategists is that all of them tend to be optimistic. The KSE-100 index has been targeted and visualised to settle between 52,500 points and 60,000 points by the end of December. The index is…

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Petroleum Division aligns strategy to streamline oil, gas sector

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ISLAMABAD-Cognizant of the country’s existing and future energy needs, the Petroleum Division (PD), during the year 2020, has aligned its strategy to streamline the matters related to the oil and gas sector. It introduced the ease-of-doing-business plan and took radical measures to ensure a level-playing field for all competitors in the energy sector. For the purpose, as many as 10 unnecessary steps, out of 24, were abolished to encourage investment in the petroleum sector. Recounting the government achievements in the oil and gas sector, a senior official privy to the…

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SSGC denies gas loadshedding as residents complain otherwise

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KARACHI: While the Sui Southern Gas Company (SSGC) has denied claims of loadshedding in domestic and industrial sectors, the consumers in Karachi continue to face gas shortages in extreme cold. In a press statement on Sunday, the company said that as per the government of Pakistan’s gas load management plan, domestic and zero rated industrial customers are to be given gas on top priority and the company is providing gas to these sectors without fail. As for the areas located at tail-end, it said that there is low gas pressure.…

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Electricity: how to make it affordable?

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ISLAMABAD: On privatisation of a public sector entity, the consumers expect – and in many cases, also experience – an improvement in services and prices. Not always though, and especially not when the element of competition is missing in the transformation from public to private sector. So, whenever the governments, in their rush to privatise, miss to put in the critical element of competition in their privatisation process, the consumers end up with a private monopoly, which at times is far more disadvantageous than a public sector monopoly. When power…

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