National Bank of Pakistan will collaborate with NASTP for strategic initiatives

New-NBP

National Bank of Pakistan and National Aerospace Science and Technology Park (NASTP) have entered into an agreement, marking a substantial and noteworthy stride in their collaborative endeavors. The event took place at the state-of-the-art NASTP Karachi establishment, where Amin Manji, the CTO and Group Chief of the Information Technology Group at NBP, joined hands with Air Commodore Ghayas Uddin, the distinguished Managing Director of NASTP Karachi, to formally execute a comprehensive agreement delineating the provision of a purpose-built facility for NBP’s IT Group at the state-of-the-art technology park. In attendance…

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100 new biogas plants will soon be established in UP: Hardeep Puri

Hardeep-Puri

Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Saturday said that 100 new biogas plants will soon be established in Uttar Pradesh. Speaking to reporters in Lucknow before going to the inauguration of the Compressed Bio Gas Plant in Budaun, Puri said that in the last seven years, under the leadership of Chief Minister Yogi Adityanath, the state has shed the label ‘BIMARU’ (sick) state and has done excellent work in every sector. “Today a new compressed biogas plant is going to be inaugurated in Budaun and the…

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Tehran move for international arbitration: Iran extends IP gas line project deadline by 180 days

gas-pipeline

ISLAMABAD: Iran has extended the deadline on the much-delayed IP gas line project by 180 days till September 2024. If Islamabad fails to positively respond, Tehran will move the Paris-based International Arbitration, seeking a penalty of $18 billion, top government officials told The News. “However, Iran has offered to send its legal and technical team to Pakistan to jointly work out a win-win strategy before the end of 180-day deadline so that the project is materialised and arbitration is averted.” The Iranian technical jointly work out a win-win strategy before…

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Gas from new discoveries: SNGPL opposes giving half share to ‘third party players’

gas-prices

ISLAMABAD; Sui Northern Gas Pipeline Company Limited (SNGPL) has opposed allocation of 50 per cent indigenous gas from new discoveries to politically influential third party players through amendments in Petroleum (Exploration and Production) Policy 2012, to be presented before the Council of Common Interests (CCI) on Monday (today), well informed sources told Business Recorder. According to SNGPL, it received a summary for CCI which has huge implications for energy supply chain and key high priority sectors like export, fertiliser and domestic consumers. SNGPL maintains that its comments were not sought on…

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Pesco resents ‘excessive’ supplemental charges by CPPA-G

power-tariff

ISLAMABAD: Peshawar Electric Supply Company (PESCO), one of the worst performing Discos, has reportedly protested with CPPA-G on charging of unbridled supplemental charges from it in violation of NEPRA determination. Chief Executive Officer (CEO) PESCO, in a letter informed CEO CPPA-G that his organisation has charged supplemental charges amounting to Rs. 4.306 billion to PESCO for the month of Oct-2023 as conveyed by the Additional Manager Finance (Billing) CPPA-G on November 15, 2023 . The cumulative amount charged by CPPA-G to PESCO on account of supplemental charges stood at Rs.…

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