Month: February 2022

Underprivileged’ employees of federal govt to get disparity allowance

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imran-khan

Federal government employees from BPS 1 to 19 grades will now get a disparity allowance from March 1, except those who are already getting extra allowances. In this regard, the government on Wednesday notified 15 per cent Disparity Reduction Allowance (DRA) on the running basic pay to the “underprivileged employees” up to grade 19. The government announced the DRA earlier this month a day ahead of a sit-in call given by the employees in protest against the government’s failure to provide them with a special allowance promised to them. The…

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OGDCL ANNOUNCED FINANCIAL RESULTS FOR
THE HALF YEAR ENDED DECEMBER 31, 2021.

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ogdcl

The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on 23rd February, 2022 at OGDCL Head Office, Islamabad announced the financial results for the half quarter ended 31st December, 2021 of fiscal year 2021-22. Net sales revenue clocked at Rs.151.163 billion translating to Profit after tax of Rs. 68.882 billion and earnings per share of Rs. 16.02.The Board of Directors announced an interim cash dividend for the quarter ended December 31, 2021 @ Rs. 2.00 per share i.e. 20 percent. This is in…

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Turkey’s underground gas storage capacity to reach 10 bcm in 2023

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Turkey is working to increase the natural gas storage capacity at its facilities. Accordingly, the total capacity of the two facilities, Silivri and Lake Tuz underground natural gas storage facilities, will reach 10 billion cubic meters (bcm) next year, with the completion of the capacity increase works, Energy and Natural Resources Minister Fatih Dönmez said Sunday. Dönmez made the statements during his visit to the Silivri Underground Natural Gas Storage Facility, Turkey’s first natural gas storage facility, owned by the country’s Petroleum Pipeline Corporation (BOTAŞ). Dönmez also visited the drilling…

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Cost of power generation

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The average cost of fuel used for electricity production doubled last month compared to Jan 2021, raising serious inflationary concerns among commercial and residential consumers alike. Even if we look at the Nepra data for Dec 2021, fuel costs were still up by almost 50%. Although the increase is mainly for reasons beyond the government’s hands — prices of coal, natural gas and petroleum products have been rising sharply all over the world — it is clear in hindsight that the push to encourage consumers to use electricity instead of…

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