Author: Admin

Govt to continue with power subsidy despite IMF objections

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power-subsidy

HYDERABAD: Energy Minis­ter Khurram Dastgir has said that despite objections by the International Monetary Fund (IMF), the government would continue with its plans to dole out a huge power subsidy. Speaking at a press conference in Hyderabad, he said Pakistan had managed issues without IMF’s support and hoped that “we can pass more days without this support”. He admitted that the IMF had become a “verifying institution” for financial matters because other countries offer support after the Fund’s certification.

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Azerbaijan to send LNG cargoes from next month

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LNG-cargoes

ISLAMABAD/ BAKU: The federal cabinet has approved an agreement to procure liquefied natural gas (LNG) cargoes from Azerbaijan at discounted rates, according to a statement issued by the PM House on Thursday. Prime Minister Shehbaz Sharif apprised Azerbaijan President Ilham Aliyev of the cabinet’s decision during a meeting at the Azeri capital Baku, the statement added. “This is the second major achievement for Pakistan towards fulfilment of energy needs after recently receiving the shipment of crude oil from Russia,” the communique read. Under the agreement, Pakistan will receive one LNG…

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Petroleum prices remain unchanged until 30th

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ISLAMABAD: The prices of petroleum products will remain unchanged until June 30, Finance Minister Ishaq Dar announced in a televised statement on Thursday. During the previous two rounds, the prices of petroleum products were significantly reduced, with high-speed diesel and petrol seeing reduction of Rs35 and Rs20 respectively, according to the minister. The minister explained that although the prices of petroleum products had slightly increased in the international market from June 1 to June 15, the government had decided to maintain the current prices. The ex-depot prices of POL products…

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OGDCL onlines Wali gas field

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OGDCL-1

ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) said on Thursday it had started production at its Wali gas field in the district of Lakki Marwat, Khyber Pakhtunkhwa province. The company said it would initially produce 10 million standard cubic feet per day (mmscfd) of gas and 1,000 barrels per day (bpd) of oil from the field. “The operator of the Wali (Bettani) Exploration License with a 100 percent working interest, is delighted to announce commencement of production from the Wali (Bettani) Oil & Gas Field situated in District Lakki…

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Resolution of issues facing KE: Saudi Aljomaih Power voices its concern over delay

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Power-voices

ISLAMABAD: The Saudi company M/s Aljomaih Power has reportedly expressed its serious concerns over undue delay in resolution of issues related to K-Electric and nominated Habibullah Khan as its representative for meetings with government functionaries to sort out pending issues. In a letter to Prime Minister Shehbaz Sharif, Aljomaih Managing Director Abdulaziz Hamad Aljomaih referred to his meetings with him to discuss the long outstanding issues faced by K-Electric and its investment in Pakistan. Aljomaih appreciated that though the task force headed by former Prime Minister Shahid Khaqan Abbasi is…

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