Author: Admin

Plan for G2G oil deal with Russia shelved

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Pakistan-Russia

Govt allows refineries to enter into direct commercial contracts with Russian firms ISLAMABAD: The government has decided to shelve plans for a long-term oil import deal with Russia under a government-to-government (G2G) arrangement and has allowed refineries to strike direct commercial agreements with companies of the European nation. Earlier, Pakistan and Russia agreed to set up a Special Purpose Vehicle (SPV) with the objective of crude oil imports as part of a G2G agreement. However, the establishment of SPV, whose task was to import oil and then ship it to…

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Public servants cost national kitty over Rs8tr, study reveals

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National-Assambly

ISLAMABAD: The federal government spends over Rs8 trillion on paying its 1.92 million employees and providing pensions on top of over six dozen kinds of perks, privileges and other dole outs, yet knowing little about their contribution, outcome and impact on taxpayers. While the judiciary gets the highest in perks, it is the Pakistan Administrative Services (PAS) erstwhile DMG that manipulates special benefits instead of allowing the professionals of other cadres to excel and return the taxpayers with outcomes.This is the crux of the latest study conducted by a five-member…

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PM to attend UN climate moot in UAE

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Anwaarul-Haq

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar, who is currently visiting China to attend an international forum, will be visiting the United Arab Emirates (UAE) next month. He will attend the United Nations climate change conference being held at the Dubai Expo Centre. Diplomatic sources told The News on Monday that Pakistan had conveyed UAE authorities its consent to take part in the event. The schedule of the visit is being worked out through diplomatic channels. Prime Minister Kakar, who has visited the United States, the United Kingdom, Saudi Arabia and…

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Saudi Aramco, PSO, TAPI gas pipeline: Oil, gas issues now come under sharper SIFC focus

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PSO-TAPI

ISLAMABAD: The Apex Committee (AC) of Special Investment Facilitation Council (SIFC) has directed Ministry of Foreign Affairs (MoFA) and Petroleum Division to expedite resolution of issues of Saudi Aramco and Pakistan State Oil (PSO) and TAPI gas pipeline, well informed sources told Business Recorder. Minister for Energy Muhammad Ali has already dashed to China direct from Russia, as advance team of caretaker Prime Minister’s visit who has also landed in Beijing . Energy Minister is expected to interact with Bank of China/ Sinopec for establishment of either an oil refinery or…

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Azad Pattan, Kohala HP projects: Chances of achieving FC slim

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Azad-Pattan

ISLAMABAD: Ministry of Planning, Development and Special Initiatives has stated that probability of achieving financial closure of 700-MW Azad Pattan Hydropower project and 1124-Kohala Power project was low, official sources told Business Recorder. This information was shared with the Ministry of Foreign Affairs during a meeting convened to finalise agenda for the visit of caretaker Prime Minister Anwaar-ul-Haq to China. Pakistan and China are expected to sign several pacts including export of donkey hides, etc., and ML -1 at reduced cost along with reduced operational speed. FC to Azad Pattan power…

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