Month: March 2022

State-owned Pakistan State Oil (PSO) refused to take responsibility of oil imports on behalf of other Oil Marketing Companies (OMCs), saying market situation was volatile with regards to product availability, The New learnt on Saturday. PSO said suggestions put forth by Oil & Gas Regulatory Authority (OGRA) were not only anti-competitive, but also appeared to be contrary to the public interest as it would most likely create supply chain related, causing the general public to suffer. Even otherwise, the suggestions would create legal implications, a letter to Director General Oil…

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The US-led West is placing sanctions on Russia. These have global repercussions in terms of energy pricing and security. The US and the UK are largely unaffected while the EU is facing consequences. The Middle East is a beneficiary as higher prices will add to oil producing countries’ coffers. Russia is economically doomed due to the sanctions. Second in line are poor oil importing developing nations, including Pakistan, where the war in Ukraine is causing economic hardships, to say the least. The US is banning procurement of Russian oil and…

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The State Bank of Pakistan (SBP) decision of allowing commercial banks to extend cheaper loans for conversion of tube-well operations to solar power for availing the net metering facility, the power distribution companies have started receiving an overwhelming response from such consumers across the country. Under the provisions, the tube-well connections seeking net metering on a load up to 25kW will not require permission from the National Electric Power Regulatory Authority (Nepra) for the grant of generation licence, Dawn has learnt. The facility will not only convert most such connections…

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The Ghazi Barotha canal has turned into a death trap for picnickers who take a plunge in its lake since the absence of safety equipment makes it almost impossible to pull a bather out once the strong currents suck him down, a Senate panel observed on Thursday. The upper house’s standing committee on water resources called upon the authorities to take steps for the picknickers’ safety, recalling that the canal had claimed 124 lives so far. Masadik Malik of the PML-N chaired the meeting. Senators Sana Jamali, Taj Haider, Gurdeep…

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Sindh minister for Industries & Commerce and Cooperative Department Jam Ikramullah Dharejo has said that Government of Sindh believes in business beyond borders and that’s why we effectively and efficiently participate in CPEC initiatives. This he said as a key speaker in Sindh Industrial Cooperation B2B Investment Conference ( Sindh Chapter) organized by Board of Investment here at a local hotel today. Minister for State & Chairman Board of Investment Muhammad Azfar Ahsan also spoke on the occasion. Jam Ikramullah Dharejo said that Hydro China, Shanghai Powergen, China Ghezouba Group,…

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