Day: November 14, 2023

CM directs development of Chaukhandi Graveyard as Archaeological ParkEncroachments around the graveyard to be removed.

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Maqbool-Baqar

KARACHI (Nov 14): Caretaker Sindh Chief Minister Justice Maqbool Baqar has invited proposals for the establishment of an Archaeological Park at Chaukhandi Graveyard meanwhile he ordered the removal of encroachment around the graveyard and organization of from the would be removed from the graveyard to organise a fundraising musical evening at the site. He issued these orders during his visit to Chaukhudi Graveyard to witness its plight and chalk out a plan to restore the archaeological site on Tuesday. During his visit, Secretary Local Govt Manzoor Shaikh, Secretary Culture Aleem…

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Oil industry seeks revision of exchange rate formula for imports

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oil-gas.

ISLAMABAD: The oil industry is pressing the government to change the way it calculates the exchange rate for petroleum imports, saying the current formula exposes the private sector to huge losses due to exchange rate fluctuations. The industry has asked for a revision based on the ground realities so that it is not exposed to perpetual suffering due to the existing methodology for adjusting exchange losses and gains. The industry wants a consultative session with government functionaries to improve the existing pricing formula in a way that does not continue…

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Mari says EWT production from Ghazij-2 Well has commenced

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MPCL-Project

KARACHI: Mari Petroleum Company Limited has announced Extended Well Testing (EWT) production commencement from Well Ghazij-2 in Mari Development and Production Lease (D&PL) in Daharki, Sindh. Mari Petroleum Company Limited had earlier informed that the company has successfully drilled and tested the appraisal Well Ghazij-2 in Mari D&PL. It is further informed that Extended Well Testing (EWT) gas production from the appraisal Well Ghazij-2 has commenced, material information sent to Pakistan Stock Exchange on Monday said. The well is currently producing around 8 million standard cubic feet per day (MMSCFD)…

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‘Corruption’ in contract award: Power Division-Senate panel dispute deepens

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power-sector

ISLAMABAD: The wrangle between the Power Division and Chairman Senate Standing Committee on Power, Senator Saifullah Abro on ADB’s project of ACSR Bunting Conductor Lot II A over a reported suspicious contract has intensified and the latter has refused to withdraw recommendations of the Committee of October 17, 2023 including the letter written by Secretary Committee. “Letter has been written in my absence and without my approval as Chairman Senate Standing Committee on Power. I totally disagree and disown the contents of the letter mentioning withdrawal of directions/ recommendations of…

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Hydroelectric sector: Wapda challenges Nepra’s tariff determination

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dam-hydro

ISLAMABAD: Water and Power Development Authority (Wapda) has challenged National Electric Power Regulatory AUTHOIRTY (NEPRA) decision on hydroelectric tariff determination for FY 2022-23, accusing the power sector regulator of denying justified costs. Wapda had sought increase of Rs 3.95 per unit on the basis of revenue requirement of Rs 123.315 billion for the FY 2022-23 whereas the regulator allowed an increase of Rs 2.72 per unit to generate revenue of Rs 84.925 billion, which irritated Wapda. Hydel power generation by Wapda crosses 8,000MW mark WAPDA has provided the following rationale…

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