Month: September 2022

GAIL India, the largest gas distributor in the country, purchased three LNG cargoes last week for over $40 per million British thermal units (mmbtu), traders familiar with the matter told Bloomberg. Those are record prices for any LNG cargo to be delivered to India, more than doubling the prices paid last year. It’s also a sign the country is struggling to fill the hole in Russian supplies, as competition with energy-strapped Europe has driven natural gas prices to sky-high levels. India has become one of Russia’s largest fuel customers since the invasion…

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K-Electric has posted a net profit of Rs 8.52 billion for the fiscal year 2022 against Rs 11.99 billion during fiscal year 2021. The Board of Directors of K-Electric approved the financial results for the company on September 20, 2022 for the year ended June 30, 2022. According to KE, the Earnings Per Share (EPS) remained 0.31 rupees per share in FY22 as compared to EPS of 0.43 rupees in FY21. Driven by prudent policies, the Company’s key areas of operations showed strength. T&D losses further reduced from 17.5% to…

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The Economic Coordination Committee (ECC) of the Cabinet Wednesday directed that the consignments of previously banned items that landed in Pakistan till 18th August 2022 may be released at the rate of surcharge to clear consignments stuck at ports. Federal Minister for Finance and Revenue Miftah Ismail presided over the ECC meeting virtually on Wednesday which considered a summary of the Ministry of Commerce on clearance of consignments stuck at ports. The Commerce Ministry had proposed that a direction may be passed that the consignments of previously banned items that…

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