December Could Offer ‘The Mother Of All Buying Opportunities’ For Oil

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Oil traders and speculators could see the “mother of all buying opportunities” for WTI crude oil in December, as oil prices are about to dip further in the coming days, CNBC’s Jim Cramer says. Oil prices have traded down so far this month, as fears of recession and China’s surging Covid cases have weighed on market sentiment despite the imminent EU…

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FBR concedes collecting significant amount of revenue thru power bills

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The Federal Board of Revenue (FBR) has conceded before a parliamentary panel of collecting a significant amount of revenue through electricity bills as effective tax rate is 58 percent per unit on commercial consumer and 29 percent on domestic consumers. Senate Standing Committee on Finance and Revenue presided over by Senator Saleem Mandviwalla Wednesday inquired from the officials of the…

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Payment for imported coal: HSR approaches PD for early forex approval

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Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy (Private) Limited (HSR) has approached Power Division for timely approval of foreign exchange payments for coal purchase. In a letter to Secretary Power, HSR’s CEO has referred to his previous correspondence wherein the company sought permission/ approval of the SBP for payment for ship 324 amounting to $ 15,624,400 in respect of…

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OMCs’ HSD premium: ECC directs PD to develop certification mechanism

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The Economic Coordination Committee (ECC) of the Cabinet has directed the Petroleum Division to develop a mechanism for certifying the premium of OMCs on imported HSD, official sources told Business Recorder. On November 18, 2022, the Petroleum Division informed the forum that the ECC while considering its summary titled, ‘High Speed Diesel (HSD)/gas oil premium” in its meeting held on November…

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Gas supply remains scarce

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Gas load shedding during winters is not a new phenomenon in Pakistan anymore. So much is worked around the winter season in terms of industrial and power sector usage to keep the stoves and geysers at homes running – that it has now almost become acceptable. These winters may not necessarily be significantly worse in terms of gas load shedding,…

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12th Fire Safety & Security Convention-2022 Sindh Governor advises citizens to install fire safety systems in every residential, commercial buildings to save lives

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Sindh Governor, Kamran Khan Tessori, has said that every owner of a residential and workplace building has to fulfill the civic responsibility of ensuring fire safety measures at the premises where people live or work. The Sindh Governor gave the suggestion to this effect while addressing as the chief guest at the 12th Fire Security & Safety Convention-2022 organized jointly…

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Visit of the Prime Minister to Türkiye (25-26 November 2022)

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At the invitation of His Excellency President Recep Tayyip Erdogan, Prime Minister Muhammad Shehbaz Sharif will pay a two-day official visit to Türkiye, from 25-26 November 2022. Alongside President Erdogan, the Prime Minister will jointly inaugurate the third of the four MILGEM Corvette Ships for the Pakistan Navy, PNS Khaibar, at the Istanbul Shipyard. The two leaders will also hold…

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Ambassador of Netherlands Henny de Vries called on the Federal Minister for Energy Engineer Khurram Dastgir Khan in his office to discuss the issues of mutual interest.

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During the meeting, the minister highlighted the initiatives of his government to enhance the share of renewable energy in the energy mix of Pakistan .The minister has said that the government has completed the repair work of electricity infrastructure in flood affected areas in record time.He informed that all the future energy projects would be renewable energy based.The minister reiterated…

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