Calls for new pricing deals from buyers as US LNG production shut-ins are on the cards
Read MoreCovid-19 sparks friction between LNG producers and buyers
Category: News & Announcement
LHC bans use of polythene bags across Lahore
LAHORE: The Lahore High Court (LHC) on Friday banned the use of polythene bags across the city. During the proceedings, LHC ordered the authorities concerned to implement the court orders and completely prohibit the use of polythene bags within two weeks. LHC’s Justice Shahid Karim ordered the relevant authorities to appraise the court about banning the use of plastic bottles by the next hearing. “In the next phase, we would issue a verdict on banning polythene bags in other cities of Punjab,” the judge said. The court adjourned the hearing until…
Read MoreOil Price Slumps US Crude Oil falls by US$ 3.6 to US$ 42 per barrel.
Brent also falls by about US$ 4 to US$ 46 per barrel.Oil Crashes on Reports that OPEC and Russia failed to Rollover existing supply cuts. Good development for Pakistan macros, as massive decline in Oil prices may lead to decline in energy imports, thereby helping reduce trade deficit; pass-on should lead to decline in inflation, as well as reduced energy costs to businesses/industrial sector, besides potential to improve indirect taxes for the govt and decrese in subsidies from the govt.
Read MorePM orders ’emergency’ measures to address energy, petroleum woes
ISLAMABAD: Prime Minister Imran Khan on Thursday ordered to devise an emergency programme to address the energy and petroleum sectors’ challenges and to ensure that the reformation process puts minimum burden on the common man. “The common man would not be made to bear the brunt of an inefficient and corrupt system, which has been enforced for years,” he remarked while presiding over a meeting to review the measures being taken to improve the efficiency of state-owned institutions. Energy Minister Umar Ayub Khan, Planning Minister Asad Umar, Privatization Minister Muhammadmian Soomro,…
Read MoreKE setting up renewable energy company
KARACHI: The K-Electric Limited’s board has approved the incorporation of a private limited company to undertake renewable energy and other projects envisaging an investment of $3 billion in next four years, the power utility said in statement on Thursday. “The proposed company will be a wholly-owned subsidiary of K-Electric, subject to regulatory and other required approvals and completing required corporate actions,” the statement said. The power company has not released the details regarding the paid-up capital and timeline for the proposed company as yet. The statement said the KE, Pakistan’s…
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