Category: News & Announcement

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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ISLAMABAD: Government is mulling divestment of up to 10 percent of its stake in state-owned Oil and Gas development Company (OGDCL) and Pakistan Petroleum Limited (PPL), sources said. The decision was taken on Thursday during a meeting presided over by Minister for Privatisation Mohammed Mian Soomro. Senior officials of OGDCL, ministries of petroleum and privatisation agreed with the divestment proposal and to forward it in the upcoming meeting of the cabinet committee on privatization (CCoP) for approval. The sources said the government is considering stake divestment to strategic investors, especially…

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He was addressing a high-level meeting to review measures taken to improve the performance of state-owned enterprises (SOEs). PM Khan underscored the need for taking emergent measures to control the existing challenges in both the sectors. According to him, a massive awareness campaign among the general public should also be launched. He said the common man would not be made to bear the brunt of an inefficient and corrupt system. The prime minister said that professionals and technology experts should be appointed in both ministries so that the existing problems…

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The award is in recognition of WLPGA’s activities in promoting LPG as a marine fuel and for its report: “LPG Bunkering, Guide for LPG Marine Fuel Supply”. The report offers guidance for LPG marine fuel supply, concluding that sufficient potential infrastructure for distribution of LPG is available to serve potential marine market demand. LPG is a key enabler for IMO 2050 and as fuel it addresses IMO sulphur regulation forever. The report aims to improve understanding within the maritime industry, of issues related to bunkering ships with LPG. The report highlights…

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US natural gas futures edged up for a third day in a row on Wednesday due to a slight decline in output, despite weather forecasts confirming the previous warmer-than-normal forecast for the next two weeks. After rising about 7% earlier this week, front-month gas futures for April delivery on the New York Mercantile Exchange rose 2.7 cents, or 1.5%, to settle at $1.827 per million British thermal units (mmBtu). That is the first time the front-month increased for three days in a row since early January. Despite this week’s gains,…

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