Year: 2022

The Economic Coordination Committee (ECC) of Cabinet on Friday allowed the Trading Corporation of Pakistan (TCP) to import 160,000 tonnes of urea from China and Azerbaijan under the government-to-government arrangement (G2G). The ECC meeting, chaired by Finance Minister Ishaq Dar, discussed the summary submitted by the Ministry of Industries and Production for the procurement of 200,000 tonnes of urea to replenish the strategic reserves. The Ministry of Industries also informed about various options already negotiated regarding the import from Chinese firms who have committed to supply urea at the lowest…

Read More

National Forum for Environment & Health (NFEH) in collaboration with the Fire Protection Industry of Pakistan (FPIP) is organizing the 12th Fire Safety & Security Convention on November 23, 2022. Governor Sindh M. Kamran Tessori & Sindh Minister for Local Government Syed Nasir Hussain Shah have been invited as chief guest on the occasion. Engr. Nadeem Ashraf, project head of the event while briefing newsmen about the objectives of the convention said that the convention is aimed at promotion of fire safety and security awareness among all the industries, corporate…

Read More

K-Electric Ltd said on Friday the apex regulator of the corporate sector has directed it not to change the composition of its board of directors “till further orders”. K-Electric’s holding company is Cayman Islands-registered KES Power Ltd, with a shareholding of 66.4 per cent. The government of Pakistan controls 24.36pc shareholding in K-Electric while the rest is owned by institutional investors and the general public. The latest directive by the Securities and Exchange Commission of Pakistan (SECP) follows the news that a British Virgin Islands-registered special purpose entity by the…

Read More

The ex-Wapda distribution companies (Discos) on Friday sought an additional fuel cost (FCA) of about 25 paise per unit to generate about Rs2.5 billion in supplementary revenue on account of a higher cost of electricity consumed in October. On the other hand, K-Electric has proposed a reduction in FCA by about Rs1.9 per unit to refund through tariff adjustment of about Rs3.16bn to consumers on account of cheaper electricity produced in October. Separately, KE has also sought about Rs7.8 per unit negative quarterly tariff adjustment for the July-September period. The…

Read More

With the start of winter, gas shortage has become a major issue especially in the province of Punjab, as only eight hours of gas will be supplied to domestic consumers in 24 hours from next month. As per the sources, Punjab will be the most affected by the gas shortage as Sui Northern Gas Pipelines Limited will not have the required amount of gas available for the province. The main reason for it is that the share of Punjab in gas production is less than other provinces of Sindh, Balochistan…

Read More