UBG President  Strongly Opposes Exorbitant Hike in Power Tariff


(24th July 2023) United Business Group(UBG) representing the nation’s economic backbone, stands united in expressing profound concern and anxiety over the recent exorbitant increase in electricity tariffs. This hike has raised significant apprehensions among businesses, threatening to impact the purchasing power of consumers, lead to a decline in exports and investments, and potentially result in the closure of industrial units.…

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Ministry Energy to host Summit on PAKISTAN MINERALS SUMMIT


Ministry Energy government of Pakistan to host Pakistan Minerals Summit on August 01 in Islamabad. It will be curated by Nutshell Conferences Group. This highly anticipated event is themed “Dust to Development: Investment Opportunities in Pakistan” and aims to explore and capitalize on the vast potential of the minerals industry. Barrick Gold is supporting the Summit in partnership with the…

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The Largest And Most Powerful Wind Turbine Ever Built Is Now Operational


News about switching to greener energy sources is always good news, and this certainly counts: The world’s largest wind turbine constructed to date is now up and running and contributing to the power grid in China. The MySE 16-260 earns its largest-ever tag thanks to its rotor diameter of 260 meters (853 feet) and its swept area of 53,902 square meters (580,196 square feet);…

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IMF blames Dar, Shau­kat Tarin for derailing programme


ISLAMABAD: Describing the failed four-year Extended Fund Facility (EFF) as a “missed opportunity”, the IMF blamed both the PTI and PDM, particularly under the economic stewardship of Shau­kat Tarin and Ishaq Dar, for irresponsible budgetary expansion and exchange rate interventions, respectively. The IMF staff report released after the signing of the $3 billion Standby Arrange­ment detailed step-wise ‘stop and go’ cycles of the…

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Petroleum dealers to meet Musadik today


KARACHI: Petroleum dealers will meet Minister of State for Petroleum Musadik Malik on Monday (today) for an agreement on increasing their profit margin. The dealers are seeking a bigger share in the petroleum revenue and had threatened to shut petrol stations across the country if their demands are not met. On Friday, the strike was deferred for two days after…

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Bifurcation of PESCO into two Discos approved


ISLAMABAD: Prime Minister Shehbaz Sharif has approved bifurcation of Peshawar Electric Supply Company (PESCO) into two Distribution Companies (Discos) i.e. Pesco and HAZECO, official sources told Business Recorder. Sharing the details, sources said, in 1998, pursuant to the strategic plan for WAPDA, approved by the Council of Common Interest in 1993, WAPDA’s Power Wing was restructured by creating independent power generation,…

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Five export-oriented sectors: SNGPL directed to supply gas/RLNG without any subsidy


ISLAMABAD: Ministry of Energy (Petroleum Division) has directed Sui Northern Gas Pipeline Limited (SNGPL) to supply gas/RLNG to five export-oriented sectors without any subsidy. In a letter to Managing Director, SNGPL, Directorate General of Gas (Petroleum) Division has informed that no subsidy has been budgeted for five-export-oriented sectors during the current financial year by the government, therefore, SNGPL may raise…

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