Year: 2023

‘Reko Diq deal with Saudi firm this year’

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reko

ISLAMABAD: Care­taker Prime Minister Anwaarul Haq Kakar on Tuesday hoped to conclude a deal for selling a stake to Saudi Arabia in the Reko Diq, one of the world’s biggest gold and copper mining projects, by December. “We are quite excited at the Saudi offer, and we would be very much encouraging their participation, not just in this project but otherwise also,” Mr Kakar said in an interview with Arab News. It is the negotiation part, which is happening between the three parties, and let’s see what sort of outcome comes of…

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Govt making all-out efforts to provide energy to people, industries through LNG: Muhammad Ali

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Muhammad-Ali

ISLAMABAD, Nov 7 (APP): Caretaker Minister for Energy, Power and Petroleum, Muhammad Ali on Tuesday said that to ease the lives of people and businesses, the government was making all-out efforts to provide energy to the people and industries through imported LNG, especially during winters.He was addressing the 29th edition of the Annual Technical Conference (ATC) jointly organized by the Society of Petroleum Engineers (SPE) and the Pakistan Association of Petroleum Geo-scientists (PAPG).The conference was attended by Faheem Haider, Chairman ATC and Chairperson SPE Pakistan Section, Mr Mohamed Al Marzouqi…

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Govt determined to give Ogra more teeth

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Petroleum-prices

ISLAMABAD: The federal government has directed Petroleum Division to prepare a policy paper for amendments to OGRA Ordinance 2002 empowering the Regulator to set and notify gas prices in future, sources close to Secretary Petroleum told Business Recorder. The decision was taken at the meeting of the Economic Coordination Committee (ECC) on October 23, 2023 which was ratified by the Federal Cabinet. The sources said that OGRA would set and notify gas prices after hearing all stakeholders. An appellate mechanism would also be provided, should a party seek review of the…

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Centre doubts ability of provinces to run Discos credibly

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Power-generation

ISLAMABAD: The Power Division has reportedly been directed to move a summary to scrap the decision of elected government regarding provincialisation of power Distribution Companies (Discos), fearing that provincial governments might not be able to run Discos due to their limited expertise, well-informed sources told Business Recorder. Former Prime Minister Shehbaz Sharif had directed the concerned Ministries/Divisions to prepare a mechanism to hand over Discos to respective provinces that had shown a willingness to accept the Discos with some pre-conditions. The sources said, Privatisation Ministry, which is now being headed by…

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Experts call for power sector reforms

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power-sector

Emphasise need to reduce cost of electricity production, revise tariff structure LAHORE: A discussion convened by the Lahore Economic Journalists Association (LEJA) titled ‘Increase in power tariffs – impact on consumers’ affordability, DISCOs recoveries, and circular debt’ brought together experts who emphasised the urgent need to reduce the cost of electricity production, revise the tariff structure, and enhance the efficiency of distribution companies (DISCOs). The experts highlighted several key measures to address the ongoing challenges in Pakistan’s power sector. Their suggestions included appointing more professionals within DISCOs, boosting power generation…

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