Category: Highlights

Special Economic zone will establish on remaining steel mills land , Steel Mill to be revitalized: CM

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steel-mill

KARACHI (July 30): Sindh Chief Minister Syed Murad Ali Shah and Federal Minister for Industries & Production Rana Tanveer, in their meeting at CM House, discussed the revival of the Pakistan Steel Mill plan and the establishment of a Special Economic Zone on the remaining land. The meeting was attended by Provincial Minister Industries Jam Ikarm Dharejo, Chief Secretary Asif Hyder Shah, PSCM Agha Wasif, Secretary Industries Yasin Shar, and the Federal Minister was assisted by Federal Secretary for Industries Saif Anjum and his team. The chief minister said that…

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Miftah Ismail to File Petition Against K-Electric Over Rate Hikes

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K-electric

KARACHI: Awaam Pakistan Party leader Miftah Ismail has announced his plan to file a petition against K-Electric, citing a 350% increase in electricity rates since 2015. Speaking at a protest outside K-Electric’s head office, Ismail criticized the government’s management of electricity tariffs, arguing that it places undue burden on ordinary citizens. He highlighted the Pakistan People’s Party’s unfulfilled promise of providing 300 free units of electricity, questioning the rationale behind such steep rate hikes. Ismail asserted that no one should receive free electricity if ordinary citizens do not, and expressed…

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POL Discovers Oil and Gas Reserves in Kohat District

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oil price

ISLAMABAD: Pakistan Oilfields Limited (POL) has announced the discovery of significant hydrocarbon reserves at its Razgir-1 exploratory well in Kohat district, Khyber Pakhtunkhwa. POL, a subsidiary of Attock Oil Company Limited, shared the news with the Pakistan Stock Exchange (PSX) on Monday. The Razgir-1 well, part of the TAL block operated by MOL Group, was spudded on January 9, 2024, and drilled to a depth of 3,950 meters. The Drill Stem Test (DST) of the Lumshiwal formation revealed the well’s potential, producing 20 MMscf of gas per day and 250…

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K-Electric Seeks Petroleum Division’s Support for Mari Gas Supply

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ISLAMABAD: K-Electric (KE) has requested the Petroleum Division’s assistance to secure 100 MMSCFD of surplus indigenous gas from Mari Petroleum Company Limited (MPCL), following the expiry of MPCL’s contract with SNGPL. KE referenced its November 3, 2023, letter requesting gas allocation for its fleet and initiated discussions with gas exploration companies including Mari, PPL, PEL, Eni, OGDCL, and MoI. KE’s Chief Strategy Officer, Shahab Qader Khan, highlighted that Mari has 100 MMSCFD of available gas. Allocating this gas to KE could significantly reduce the utility’s generation costs. The price of…

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Miftah Ismail urges govt to waive taxes on domestic bills for four months to phenomenally reduce electricity cost

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Miftah-Ismail

Leader of the newly established political entity, Awam Pakistan Party (APP), and former Federal Finance minister, Dr Miftah Ismail, has urged the government to waive for the next four months advance income tax and sales tax recovered from the domestic consumers as part of their electricity bills to phenomenally decrease the electricity rates in the country.Speaking at a press conference here at the Press Club on Saturday, the former Finance minister said that his suggestion of withdrawing the taxes on domestic power consumers would help in reducing the electricity rates…

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