Year: 2023

Power companies seek to charge Rs1.8 per unit more

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crackdown-power

ISLAMABAD: While still reeling under the prolonged application of last year’s Rs135 billion worth of quarterly adjustments, the ex-Wapda distribution com­panies (Discos) have come up with a fresh claim of another Rs22.6bn for the first quarter of FY24 to be charged to consumers acr­oss the country at the rate of about Rs1.8 per unit. The requests have come amid over prevailing over 31pc rate of inflation which suggests that official estimates of declining inflationary trends might not be as forthcoming as electricity and gas rates have a major contribution to…

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“OGDCL’s Impressive FY 2022-23: 59% Profit Growth, Final Dividend Declared”

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ogdcl-meeting

ISLAMABAD: The Oil & Gas Development Company Limited (OGDCL) held its 26th Annual General Meeting (AGM) for shareholders on Monday for the financial year 2022-23 at the OGDCL Head Office in Islamabad. The meeting was chaired by the Chairman of the Board of Directors, OGDCL, Mr. Zafar Masud. The Managing Director & CEO of OGDCL, Mr. Ahmed Hayat Lak, along with other board members, senior management, and shareholders, were in attendance. OGDCL further solidified its position as the market leader, achieving net sales revenue of PKR 413.594 billion. This translated…

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“Clean Energy is the Top Priority of Pakistan”: Caretaker Energy Minister

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Clean-Energy

Interim Minister for Energy held a meeting with the ambassador of Denmark to Pakistan H.E Jacob Linulf at Power Division today. The brief of the update on Danish Energy Transmission Initiative (DETI) project was discussed . Minister said that the world is witnessing a much needed transition towards clean energy in wake of the Climate Change. Pakistan, being more vulnerable to impacts of the global climate change, has to also to adapt to and mitigate the Climate Change at the country level. He said that the government of Pakistan has…

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Gas tariff hike on cabinet meeting agenda today

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Anwaarul-Haq

ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar will chair an important meeting of the federal cabinet today (Monday) in which some significant decisions are likely to be taken in light of the recommendations of the Economic Coordination Committee. As the deadline of repatriation of undocumented, illegal foreigners in Pakistan is expiring on Oct 31, the cabinet will also be informed about the results of ongoing operations against illegal or unregistered immigrants and unlawful economic activities, like smuggling, hoarding and the US dollar’s flight. The cabinet will also be apprised about the agenda…

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Petrol, diesel prices may drop again as rupee strengthens

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Petroleum-prices

ISLAMABAD: Petroleum prices are expected to drop for the third consecutive fortnight with a reduction of Rs5-18 per litre for diesel and petrol, respectively, later this week, mainly due to exchange rate gains. Official sources told Dawn that the price of High-Speed Diesel (HSD) is likely to decrease by about Rs5-6 per litre, falling to less than Rs300 per litre, unless the caretaker government further increases the petroleum levy. On the other hand, petrol would be cheaper by about Rs18 per litre. This is mainly due to the rupee’s gain of about Rs3 against the dollar…

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