Category: Highlights

Germany and Austria came out strongly against the European Union proposal to classify some natural-gas and nuclear projects as sustainable investments, with both countries accusing the bloc of “greenwashing.” In Berlin, the Greens — who joined Germany’s new ruling coalition following September’s election — criticized the regulatory plan as damaging the credibility of the EU green rulebook, known as taxonomy, and threatening to divert investment away from renewables. The country is phasing out nuclear energy and wants to shut all its atomic power plants by year’s end. “It’s a kind…

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Prime Minister Imran Khan has appointed Azam Jamil as his Special Assistant for Tourism Coordination. With an illustrious career in the hospitality and tourism industry starting with Intercontinental Hotels in the mid-seventies and spanning well over four decades, Azam has been responsible for spearheading some of the key projects and institutions that shape Pakistan’s tourism industry in the present day. Educated at the Aitchison College and Burn Hall, he went on to gain higher degree at the University of Karachi and was ultimately sent to Cornell University by Intercontinental Hotels.…

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Haque Nawaz has joined the Board of Directors of Gas & Oil Pakistan Ltd. He holds master’s degrees in Business Administration and Organic Chemistry. Mr Nawaz is a director at the board of Bank of Azad Jammu & Kashmir since June 2021 and has previously worked as the acting Auditor General of Pakistan. He also served as Joint Secretary as well as Additional Finance Secretary in the Finance Division. Mr. Nawaz has also been associated with the Pakistan Military Accounts Department and the Ministry of Foreign Affairs as Deputy Chief…

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The Cabinet Committee on Energy (CCoE) has directed the Petroleum Division (PD) to submit a formal summary to the Economic Coordination Committee (ECC) of the Cabinet for resolution of a dispute on Jamshoro Joint Venture Limited (JJVL) LPG plant, official sources told Business Recorder. On December 23, 2021, Deputy Chairman, Planning Commission informed the CCoE that Prime Minister while chairing a meeting on LNG Terminal + Virtual LNG Pipeline held on November 15, 2021, directed the Deputy Chairman, Planning Commission to look into the issue of JJVL LPG and submit…

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Being the largest marketing company, Pakistan State Oil (PSX: PSO) has the largest market share I the OMC sector involved in the marketing and distribution of motor gasoline (Mogas), high speed diesel (HSD), furnace oil (FO), jet fuel (JP-1), kerosene, CNG, LPG, petrochemicals and lubricants. It also imports products like Mogas, HSD JP-1 and furnace oil based on the demand. It has the largest distribution network in the country. Government of Pakistan holds the highest shareholding making up 22.47 percent shares of PSO, according to the latest pattern of shareholding;…

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