Month: August 2024

Timely Action by OGRA, Provincial Government of Sindh, and Law Enforcement Agencies Prevents Catastrophe in Panu Aqil

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Oil-Gas

August 5th, 2024: The Oil and Gas Regulatory Authority (OGRA), in collaboration with the Government of Sindh, the District Government, and law enforcement agencies, has successfully halted the illegal mixing of CO2 gas with LPG in and around Panu Aqil, Sukkur. A decisive action has been taken against those violating the law, with FIRs registered and court proceedings initiated. This prompt intervention has averted a potential catastrophe that could have resulted in massive explosions, significant damage to public property, and a substantial loss of human lives. Recently, OGRA has taken…

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Maritime Minister to leave for Denmark this month to ink MoU for US$2bln investment by Maersk

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New-Project

KARACHI: Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh, while appreciating Karachi Chamber for organizing 19th My Karachi Exhibition in a lively manner, informed that he will be leaving for Denmark this month to sign a Memorandum of Understanding (MoU) with Maersk, a renowned European shipping giant, which intends to invest US$2 billion.“After inking MoU, Maersk will start investing from October 2024 in numerous areas including infrastructure, terminals, warehousing and shipbreaking etc. which would make Karachi a transshipment hub”, he added while delivering his speech after a press briefing at…

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President Zardari Calls for Consensus on IPP Issue

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Asif-Zardari

FAISALABAD: President Asif Ali Zardari has emphasized the need to resolve the Independent Power Producers (IPP) issue through consensus among all stakeholders. During a meeting with the business community of Pakistan, President Zardari proposed forming a committee of business leaders to critically analyze the situation and submit workable recommendations. He assured that his office would fully cooperate with this committee to find a win-win solution for all stakeholders. Dr. Khurram Tariq, President of Faisalabad Chamber of Commerce & Industry (FCCI), highlighted the severe impact of high electricity costs on industrial…

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FPCCI Criticizes Discos for Issuing Inflated Power Bills

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fpcci-afghanistan

LAHORE: The Federation of Pakistan Chambers of Commerce & Industry’s (FPCCI) Businessmen Panel (BMP) has strongly criticized power distribution companies (Discos) for issuing highly inflated power bills to the trade and industry in the second quarter (April-June) of the current fiscal year 2024-25. Mian Anjum Nisar, BMP Chairman and former FPCCI president, warned that the high energy costs would severely impact industries and trigger widespread inflation. He noted that the increase in base tariffs would not only make electricity bills unaffordable for consumers but also escalate the prices of all…

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SNGPL Urges PPL to Ensure Continuous RLNG Supply to KE Amid Excess Gas Concerns

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Pakistan-LNG

ISLAMABAD: The Sui Northern Gas Pipeline Company (SNGPL) has raised alarms over the financial and operational implications of excess Re-gasified Liquefied Natural Gas (RLNG) in its system due to insufficient retention by Sui Southern Gas Pipeline Company Limited (SSGC). In response, SNGPL has urged Pakistan LNG Limited (PLL) to explore the possibility of maintaining a continuous supply of 150 MMCFD RLNG to K-Electric (KE). SNGPL highlighted this issue to the Directorate General (Gas), Petroleum Division, noting that SSGC’s average retention of RLNG in July 2024 was significantly lower than the…

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