Year: 2023

‘Obsolete KE plants cost Karachiites Rs3-5 extra per unit’

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KCCI-Import

KARACHI: Sindh Commerce Minister Muhammad Younus Dagha has said the Karachiites pay at least Rs3 to Rs5 per unit extra to K-Electric on account of fuel cost adjustment (FCA) every month as compared to other distribution companies (Discos) because of KE’s obsolete power generation plants which need to be unbundled. “The electricity supply system stands completely unbundled across Pakistan where distribution and generation are treated separately but KE is the only utility service provider which solely generates and distributes electricity to consumers,” he said while speaking at a meeting during…

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OGRA clarifies Brownfield Refinery Policy

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OGRA

Islamabad. Apropos news items appearing in the press regarding ‘Brownfield Refinery Policy’ it is being clarified that numerous meetings have been held between Oil and Gas Regulatory Authority (OGRA), refineries and the representatives of Ministry of Energy, Petroleum Division. The Brownfield Refinery Policy required to be signed enabling the existing refineries to proceed with their projects to upgrade to produce Euro-V compliant fuels, which is a project of national strategic importance.It is pertinent to mention here that the final agreed draft of the agreement was shared with the Refineries on…

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OGDCL, KUFPEC partner to explore joint business opportunities and expertise sharing

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KUFPEC

A senior level delegation from Kuwait Foreign Petroleum Exploration Company (KUFPEC), Kuwait, led by Mr. Tareq M. Ebrahim (EVP – Operations) and including Mr. Ali Taha Al-Temimi (Country Head – KUFPEC, Pakistan), Mr. Bader Al-Matar (Manager Asia Region), Mr. Nawwaf AlSalem (Manager Exploration), Mr. Khaled Al-Athainah (Manager Exploration, Pakistan) and Mr. Abdul Ghafoor (Sr. Specialist Geologist, Pakistan), visited OGDCL Head office today and met with Mr. Ahmed Hayat Lak MD / CEO along with senior management team of OGDCL. During the visit, an MOU has been signed between the two companies. The objective of…

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THE FUTURE SUMMIT 7th Edition-Discussing Challenges, Exploring Opportunities

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future-summit

Karachi, November 15, 2023: The 7th Edition of THE FUTURE SUMMIT (TFS) commenced with a full house at a local hotel in Karachi.THE FUTURE SUMMIT is co-hosted by Nutshell Group and HBL, and powered by Unity Foods Limited, in strategic partnership with the Overseas Investors Chamber of Commerce and Industry (OICCI) and CORPORATE PAKISTAN GROUP.The inaugural session showcased an impressive lineup of public and corporate leadership with Mohammad Ali, Caretaker Federal Minister for Energy, Power & Petroleum; Maj Gen Shahid Nazir, HI (M), Director General Strategic Projects, Pakistan Army; Farrukh…

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Younus Dagha for providing gas at cost to industries, ending cross-subsidization

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younus-dagha

KARACHI: Provincial Minister for Revenue, Industries and Commerce Muhammad Younus Dagha has said that worldwide gas tariff for industries is subsidized while the residential consumers are subjected to higher cost but unfortunately, in Pakistan, the industries are subsidizing all other sectors which is purely against international best practices.“Structural changes in consultation with business community are needed to rectify all issues in the energy sector so that the industries alone could not bear the burden of exorbitant gas tariff hikes. Cross-subsidization by raising tariff for industries and keeping it down for…

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