Author: Admin

NA body on petroleum expresses serious concern over CSR fund misuse

Admin
National-Assembly

ISLAMABAD: National Assembly Standing Committee on Petroleum Division on Thursday expressed serious concern over inadequate regulatory oversight that has led to the misuse of Corporate Social Responsibility (CSR) funds and the underutilization of the Production Bonus and Training Fund by exploration and production (E&P) companies. Chaired by MNA Syed Mustafa Mehmood, the Standing Committee convened to review the CSR initiatives by E&P companies. In a unanimous decision, the committee agreed to form a subcommittee to draft new guidelines aimed at improving the utilization of CSR funds, production bonuses, and training…

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Pakistan responds to Chinese ambassador’s ‘undiplomatic’ remarks: what led to this tense exchange?

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Ishaq Dar

As security concerns for Chinese nationals intensify, Pakistan’s Foreign Ministry urges a return to diplomatic norms in addressing sensitive issues with Beijing The Pakistan Foreign Ministry issued a rare statement addressing remarks made by Chinese Ambassador Jiang Zaidong during the high-profile “China at 75” conference held earlier this week in Islamabad. The Ministry’s spokesperson, Mumtaz Zahra Baloch, clarified that the ambassador’s public comments, emphasizing China’s intolerance of security lapses concerning its citizens working in Pakistan, did not align with the close and cooperative spirit traditionally marking Pakistan-China relations. Jiang’s warning,…

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NEPRA reserves decision on KE’s PKR247 million fuel cost relief proposal for September

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Power Division

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) held a public hearing on October 31, 2024, to review a petition by K-Electric (KE) for a provisional monthly fuel charge adjustment (FCA) for September 2024. If approved, the requested adjustment would provide an anticipated relief of PKR 247 million, which translates to a reduction of PKR 0.16 per unit for consumers in KE’s service area. Fuel charge adjustments, such as this one, reflect the varying global fuel prices used for electricity generation and changes in the generation mix. These adjustments are…

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Wafi Energy Acquires Majority Stake in Shell Pakistan Limited

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Shell-Pakistan

Karachi, Pakistan – Wafi Energy, a well-established Saudi energy company and affiliate of the Asyad Group, has officially acquired a majority shareholding in Shell Pakistan Limited, the exclusive licensee for Shell products in the country. This strategic acquisition underscores Wafi Energy’s commitment to expanding its footprint in Pakistan’s energy sector while fortifying Shell’s reputable service in the region. The powerful synergy between Shell’s long-standing legacy of innovation and quality and Wafi Energy’s strategic investment marks a new chapter for Shell Pakistan. Customers across the country will continue to enjoy the…

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Murad informs Canadian envoy of Sindh govt initiative for upgrading city infrastructure and controlling pollution.

Admin
New-Project

KARACHI (Oct 31): Sindh Chief Minister Syed Murad Ali Shah, in his meeting with the Canadian High Commissioner Ms Leslie Scanlon, said that his government, through the Karachi transformation project, was improving the infrastructure to make the city liveable and attracting investment. The meeting also included the Director General for South Asia in Ottawa, Canada, Ms. Marie Louise Hannan, and Mr. Daniel Arsenault, the Political, Economic, and Commercial Counsellor at the Canadian Embassy. The Chief Minister was accompanied by his Secretary, Raheem Shaikh. During the meeting, Ms Scanlon remarked that…

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