September 2023 -

CEOs of Discos to be appointed from Federal Service

September 30, 2023September 30, 2023 Admin

ISLAMABAD: The caretaker government has decided to appoint Chief Executive Officers (CEOs) of power Distribution Companies (Discos) from Federal Service on need basis, and change Boards of all Discos. Well-informed sources told Business Recorder that Power Division is seeking Federal Government’s approval, in principle, for appointment of CEOs of Discos from Federal Service which includes Pakistan Administrative Service (PAS), Income Tax Group,…

Services of PAEC in Pakistan health sector lauded

September 30, 2023September 30, 2023 Admin

ISLAMABAD: The role and services of Pakistan Atomic Energy Commission (PAEC) for use of nuclear and other advanced techniques for diagnosis and treatment, have been profusely admired for eradication of cancerous and allied diseases as the views have been expressed at the 67th session of the general conference of the International Atomic Energy Agency (IAEA), where a signing ceremony at…

OGDCL ANNOUNCES FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2023

September 28, 2023September 29, 2023 Admin

ISLAMABAD, September 28, 2023: The Board of Directors of Oil & Gas Development Company Limited (OGDCL), in its meeting held on September 28, 2023, at Islamabad, announced the financial results for the year ended June 30, 2023, of fiscal year 2022-23. Net sales revenue clocked at Rs. 413.594 billion, translating to profit after tax of Rs. 224.617 billion, showing an…

Pakistan owes $1.2bn to Chinese power producers

September 28, 2023September 28, 2023 Admin

ISLAMABAD: The government on Wednesday reported the outstanding payables to the Chinese power producers at around Rs360 billion (about $1.25bn) as it pleaded to charge Rs1.83 per unit additional cost from consumers of ex-Wapda distribution companies (Discos) in October. The National Electric Power Regulatory Authority (Nepra), which held a public hearing on the request of the Central Power Purchasing Agency…

Another ‘electric shock’ in store for K-Electric consumers

September 28, 2023September 28, 2023 Admin

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday approved up to Rs4.46 per unit increase in electricity rates for consumers of K-Electric for two months — October and November — to reduce the federal government’s subsidy payments to the Karachi-based utility, but withheld another 47 paise hike because of legal consequences. This is on top of another Rs3.28…

Fuel prices may finally come down after two months

September 28, 2023September 28, 2023 Admin

ISLAMABAD: The prices of high-speed diesel (HSD) and petrol are estimated to be reduced by about Rs5-19 per litre for the Oct 1-15 period, in what could be the first decrease in two months, mainly because of the rupee’s appreciation. The prices of the two essential fuels were last cut in mid-July when petrol was reduced by Rs9 per litre to Rs253…

Pakistan welcomes Russia LPG shipment

September 28, 2023September 28, 2023 Admin

ISLAMABAD: Pakistan has received its first shipment of liquified petroleum gas (LPG) from Russia, Moscow’s embassy in Islamabad said on Tuesday, marking Islamabad’s second major Russian energy purchase. The shipment, which the embassy said was delivered with Iranian help, comes after Pakistan received its first-ever delivery of Russian crude under a deal struck between the two countries earlier this year.…

Rs10bn recovered amid crackdown on power theft, Senate panel told

September 27, 2023September 27, 2023 Admin

ISLAMABAD: The countrywide crackdown on power theft has yielded positive results as so far Rs10 billion have been recovered while the Power Division is expecting to collect up to Rs150 billion in the next five months. It was revealed by a representative of the Power Division in the Senate Committee on Energy’s meeting on Tuesday. The committee received a report…

KCCI seeks import ban on recycled plastic from neighbouring countries to protect local industry

September 27, 2023September 27, 2023 Admin

Karachi: The Karachi Chamber of Commerce & Industry (KCCI) has called on the government to stop the import of recycled plastic from neighboring countries, saying it causes huge revenue losses and undermines the local recycling industry. In a letter to Dr. Gohar Ejaz, the caretaker minister for commerce, industries, and production, KCCI president Mohammad Tariq Yousif said that smuggled and…

Pakistan receives first shipment of Russian LPG, Russian embassy says

September 27, 2023September 27, 2023 Admin

Shipment, which the embassy says was delivered with Iranian help, comes after Pakistan received its first-ever delivery of Russian crude under a deal struck earlier this year ISLAMABAD: Pakistan has received its first shipment of liquified petroleum gas from Russia, Moscow’s embassy in Islamabad said on Tuesday, marking Islamabad’s second major Russian energy purchase. The shipment, which the embassy said…