Day: October 2, 2023

Top 10 profit making Institutions:

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economy

Oil and Gas Development Company Rs100.8 billion Pakistan Petroleum Company Limited Rs49.4 billions National Bank or Pakistan Rs30.6 billion Government Holding Private Limited Rs29.8 billion National Power Parks Management Rs28 billion Port Qasim Authority Rs15.4 billion National Transmission and Dispatch Company Rs9.3 billion Pak Kuwait Investment Company Private Limited Rs6.3 billion Faisalabad Electric Supply Company Rs6.08 billion Pakistan Agricultural Storage and Services Corporation LimitedRs6.02 billion Top 10 Loss-making Institutions Quetta Electric Supply Company Rs108.5 billion National Highways Authority Rs94.3 billion Pakistan Railways Rs50.2 billion Sukkur Electric Power Company Rs40.8 billion…

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Energy world to come together at ADIPEC in Abu Dhabi to showcase the cutting-edge innovations and bold partnerships accelerating the energy transition

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ADIPEC-Abu-Dhabi

Abu Dhabi, 1 October 2023 – ADIPEC 2023 will open its doors on Monday, 2 October, gathering the global energy industry to advance decarbonising today’s energy system and to collaborate on the energy system of tomorrow. Featuring a rich exhibition programme that covers energy-related technology, innovation, collaboration, and digitalisation, ADIPEC 2023 is expected to attract more than 160,000+ attendees from 164 countries for its biggest edition ever. Held Under the patronage of H.H. Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by ADNOC, ADIPEC…

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PD proposes gas prices for Mari-based fertiliser plants

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gas-russia

ISLAMABAD: Petroleum Division has proposed gas sale prices for Mari-based fertiliser plants at Rs.580/ mmbtu for feed stock and Rs.1,580/ mmbtu for fuel-stock from October 1, 2023, sources close to Petroleum Minister told Business Recorder. Petroleum Minister Muhammad Ali has tailored a plan to unify feed gas prices of fertiliser industry at par with industrial rate of Rs 1,260/ MMBTU instead of subsidised rates, amid accusations that fertiliser industry is not passing on subsidy to the farmers. The new proposal, if implemented, will result in an increase in urea price by…

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Cnergyico imports Pakistan’s first private-sector Russian crude cargo

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oil-and-gas

KARACHI: Pakistan refiner Cnergyico has imported the country’s first private-sector shipment of Russian crude oil, it said on Monday, as the cash-strapped nation takes advantage of Moscow’s discounts on its oil exports. The South Asian nation has started snapping up crude oil that Russia has discounted after its exports were banned from European markets over Russia’s invasion of Ukraine. Pakistan’s first cargo, imported by the government, arrived in June and a second government-to-government shipment is under negotiation. It had been assumed that private imports would not be commercially viable because,…

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Power reforms: Broken promises and rising costs

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power-sector

Are unabated market reforms in the power sector delivering? LAHORE: Financial globalisation has driven the microeconomic reforms in the power sector in the last 30 years. After the unbundling of the Water and Power Development Authority (WAPDA), electricity generation is being done by WAPDA, Pakistan Atomic Energy Commission and a plethora of Independent Power Producers (IPPs). Transmission function is performed by the National Transmission and Dispatch Company (NTDC), while the distribution is done through 10 DISCOs at the moment. Some critics associate power sector crisis to governance failure. They are…

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