Category: Highlights

Iran ready to support for energy needs of Pakistan

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Muhammad-Ali

Islamabad. Ambassador of the Islamic Republic of Iran to Pakistan H.E. Dr. Reza Amiri Moghaddam called on Caretaker Federal Minister for Power and Petroleum Muhammad Ali today in Islamabad. Both sides discussed areas of mutual interest and promotion of brotherly relations between two countries.The Energy minister welcomed the Iranian ambassador and expressed his resolve for further strengthening the ties. Ambassador extended his good wishes for the minister upon assuming new portfolio. Muhammad Ali remarked that Iran and Pakistan have huge potential for cooperation in energy sector. “We are keen to…

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Petroleum Prices Government has Failed to Read the Writing on the Wall Irfan Iqbal Sheikh

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irfan-iqbal-sheikh-fpcci

Karachi . Irfan Iqbal Sheikh, President FPCCI, has unequivocally stated that the government has no clue that what will be the socioeconomic repercussions of the third massive hike in petroleum prices as FPCCI can see the inflationary pressures to mount beyond the control of any sector or industry to absorb. Industrial shut downs; decline in exports; dwindling domestic demand; social unrest; unemployment and non-existent economic growth will follow, he added. Mr. Irfan Iqbal Sheikh maintained that the most glaring and worrisome aspect of the last few hikes is that the…

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OSH compliance crucial for exporters: Dr. Gohar Ejaz

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Gohar-Ejaz

KARACHI: Dr. Gohar Ejaz, Minister of Commerce, Production & Industry, stated that it is imperative that Pakistani exporters, especially textile related, must comply with all ILO International Labor Standards including Occupational Safety and Health Standards(OSH), in order to manifest their progressive march towards achieving the objectives of huge increase in exports. He was talking to a delegation of Employers Federation of Pakistan(EFP) consisting of President Malik Tahir Javaid, Former President Majyd Aziz, and Member Board of Directors Mian Akram Farid, in his office in Islamabad. The Commerce Minister added that…

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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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