Month: February 2022

Pakistan is expected to approve a gas pricing policy this year that would drive up domestic costs for the urea industry and enable it to export, the chief executive of Engro Fertilizers told Reuters. Pakistan’s parliament last week passed a bill, which has yet to be enacted, to shift gas pricing to the weighted average cost of gas (WAGOC). The legislation would unify pricing, and address shortages in the natural gas sector. CEO Nadir Qureshi said in an interview he believed there was a will to finalise the law this…

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Pakistan’s eatable import bill surged by 21.32 per cent to $5.63 billion in the July-January period compared to $4.64bn in the corresponding period last year owing to higher international prices and massive depreciation of the rupee. The growth in food import bill was seen to bridge the shortfall of eatables in the domestic market. The share of eatables in the total import bill also posted growth during the current fiscal year. The total import bill reached $46.62bn in the first seven months of this fiscal year against $29.26bn over the…

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Pakistan Petroleum Limited disclosed that it has made a hydrocarbon discovery from exploratory well, Mohar-1, in the Latif Block (the “Block”) in Sindh, in a notice sent to the Pakistan Stock Exchange (PSX) on Monday. PPL holds a 33.30% working interest, Eni Pakistan Limited holds 33.30% and United Energy Pakistan Limited (UEPL), formerly known as BP Pakistan, which is an operator of the block, holds the remaining 33.40% working interest in the block. “The well was drilled and tested using the operator’s internal expertise and in consultation with the Block’s…

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The National Transmission and Despatch Company Ltd (NTDC) has completed and energized 220/132 kV Grid Station Jhimpir –II at Nooriabad, Hyderabad, today. The project will add power to the national grid generated through wind power plants in Jhimpir wind cluster. Managing Director NTDC, Engr. Manzoor Ahmad , attended the energization ceremony as chief guest. While addressing the ceremony, he said that in compliance of the directions of Ministry of Energy (Power Division) Govt of Pakistan and Board of Directors, NTDC is completing its ongoing projects on war-footing-basis to enhance its…

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