Category: Highlights

Caretakers rule out relief in power bills

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power-bills

• Elected govt can review accords with IPPs, caretakers unable to withdraw free power quotas: finance minister• SBP deputy chief says market-based exchange rate followed, refuses to intervene• Senators express concerns over inflation, high policy rate, inflated bills; demand remedies ISLAMABAD: In a reality check following almost week-long consultations, caretaker Finance Minister Dr Shamshad Akhtar on Wednesday told senators and the electricity consumers to “manage (their) expectations” raised by caretaker Prime Minister Anwaarul Haq Kakar for relief in excessive power bills, saying the country’s fiscal space did not permit any…

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OGDCL ACHIEVES SIGNIFICANT PRODUCTION ENHANCEMENT AT SIAB-1 WELL IN KOHAT, KPK PROVINCE

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OGDCL

ISLAMABAD: The Oil & Gas Development Company Limited (OGDCL) on Wednesday announced a remarkable achievement in its pursuit of production optimization initiatives. The company has achieved an impressive enhancement in production at the Siab-1 well, situated within the Baratai Block in the Kohat district of Khyber Pakhtunkhwa province.Siab-1, a collaborative effort under a joint venture where OGDCL operates with a substantial 97.5% share, in partnership with the Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) holding the remaining 2.5% share, has showcased the potential of Pakistan’s energy sector.Since its inception…

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OGDCL Workshop on Energy Explores Latest Trends, Future Prospects, and Collaboration Avenues

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OGDCL

ISLAMABAD, August 29, 2023: The Oil and Gas Development Company Limited (OGDCL) on Tuesday hosted a dynamic workshop on energy in collaboration with the Lahore University of Management Sciences (LUMS). The workshop, held at the OGDCL headquarters, provided a platform for industry experts and thought leaders to convene and deliberate on the current landscape, future prospects, and collaborative initiatives within the energy sector. The workshop was graced by the presence of Mr. Ahmed Hayat Lak, the Managing Director of OGDCL, alongside all Executive Directors of OGDCL, and other senior officers.…

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Major legal victory for Imran Khan in Toshakhana case

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imran-khan123

IHC suspends sentence awarded to PTI chairman in state gifts case and orders his release on bail In a major legal victory, the Islamabad High Court (IHC) suspended the sentence awarded to former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan in the Toshakhana case. The IHC ordered the release of the Pakistan Tehreek-e-Insaf (PTI) chairman, who is incarcerated at Attock jail, while announcing a short verdict that it reserved a day earlier. The court said it would elaborate on the reasons for the suspension of the sentence in the…

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Govt between rock and a hard place as ‘fuel shock’ looms

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Petrol-price

• Petrol price likely to increase by Rs9/litre due to rupee depreciation, global price hike• Finance ministry to review relief proposals over inflated bills due to IMF accord ISLAMABAD: While the caretaker government struggles to find a solution to ‘electricity price shock’ against the backdrop of countrywide protests, a potential petroleum price shock looms over the horizon later this week, that may push all fuel products beyond Rs300 per litre. This comes as the caretaker set up continues brainstorming sessions for the third straight day in a bid to find ways…

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