Year: 2022

Sui Southern Gas Company (SSGC) on Tuesday denied reports regarding plans to increase the duration of gas loadshedding to 18 hours from October 15. SSGC termed a schedule floating on social media as “fake news” and shared that the company had devised a gas management plan, which has been postponed. Speaking to Geo News, the State Minister for Petroleum Musadik Malik clarified that no plan has been announced yet; however, relevant authorities have been directed to formulate a strategy ensuring at any cost”. He said that planning is in progress by the…

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Prime Minister Shehbaz Sharif has approved reconstitution of Board of Directors (BoD) of National Engineering Services Pakistan (NESPAK) with the direction to Power Division to place the summary before the Federal Cabinet for approval, well informed sources told Business Recorder. The composition of reconstituted BoD of NESPAK will be as follows: (i) Secretary, Power Division/ Chairman/ Member (ex-officio ); (ii) Chairman National Highways Authority (NHA) Member (ex-officio); (iii) Additional Secretary, Ministry for Finance/ Member (ex-officio); (iv) Additional Secretary, Power Division/ Member (ex-officio); (v) Chairman, Planning & Development Board, Punjab/ Member (ex-officio);…

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Auditor General of Pakistan (AGP) has unearthed 282 cases of misappropriation, irregularities in contracts/ procurement, internal rules, violations of regulatory laws and financial mismanagement, etc., worth Rs 3.27 trillion in water and power sectors, during audit year 2021-22. According to audit report on the accounts of Power Division and its attached entities, the AGP has detected 66 cases of procurement/ contractual irregularities involving Rs 131.803 billion, 43 cases of violation of internal rules and regulations of auditee entities involving Rs 740.397 billion, 33 cases of violations of regulatory law and…

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The sale of a large part of the controlling stake in Karachi Electric (KE) held by KES Power outside Pakistan appears to be in advanced stages, awaiting approval from a Cayman Islands court, but the government of Pakistan is not aware of the deal as it kept completely secret, according to trusted inside information. The sale of these interests, which control KE, is being spearheaded by Shehryar Chishti who became involved in the KE deal a few months ago through a recently-incorporated entity — Sage Ventures Limited — formed in an offshore…

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In the backdrop of the US sanctions against Tehran, Pakistan has renewed its commitment to execute the much-awaited Iran-Pakistan (IP) gas pipeline project. Prime Minister Shehbaz Sharif reinforced his commitment to execute the IP gas pipeline project during his meeting with the Iranian head-of-state on the side lines of the Shanghai Cooperation Organisation (SCO) meeting in Samarkand. This was his first interaction at the 22nd annual heads-of-state of the SCO, held between September 15-16, 2022. Pakistan and Iran signed the revised Gas Sales Agreement (GSA) in September 2019 to avoid…

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