Day: February 24, 2022

The Supreme Court turned down the request of cement manufacturers and other industries to grant a stay against the Competition Commission of Pakistan (CCP)’s orders. A three-judge bench, headed by Justice Maqbool Baqir, on Wednesday heard appeals of various industries, mostly the cement producers, against the Lahore High Court (LHC) and the Islamabad High Court (IHC)’s verdicts. Attorney General for Pakistan Khalid Jawed Khan opposed the pleas of the industries’ lawyers. He said the companies since 2009 were on stay. If the apex court grants stay then the finance system…

Pakistan LNG Limited (PLL), which will now purchase one spot LNG cargo at a higher price of $25.12 per MMBTU to be delivered on March 10-11, has made up its mind to impose a monetary penalty on Italy based LNG term supplier ENI, which is the 30 percent of the term cargo. The PLL will impose the penalty on ENI under the provision of a 15-year term agreement for backing out of the cargoes, a senior official at the Energy Ministry told The News. The ENI spokesperson says ENI will…

Chairman Oil and Gas Regulatory Authority (OGRA) Masroor Khan on Wednesday said the petroleum prices internationally were continuously increasing and result may impact on hike in petrol price domestically from March 1. The National Assembly (NA) Standing Committee on Petroleum held a meeting. In response to a question about the shortage of LNG, the Secretary Petroleum said that two of our LNG cargoes were cancelled out of which one cargo was arranged but the tender was expensive. The committee was briefed by the OGRA chairman that establishment of Pabbi Sub-Area…