Category: News & Announcement

Investors started to dump shares as panic gripped the market, making the Shanghai Composite index close nearly eight per cent lower, its biggest one-day drop in more than four years. Losses spread to the US and European markets. The Pakistan stock market fell 2.4pc in the preceding week and the KSE-100 index suffered a steep drop of 1,222 points or nearly 3pc last Monday, representing the steepest single-day decline in 14 months. But the meltdown was largely on the inflation figure for January, which came out at an alarming 12-year…

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ISLAMABAD: The government has planned to recover from the National Finance Commission (NFC) Award the outstanding amount owed by the provinces or their departments to the power sector. The full cost of service that also includes full general cost will also be passed on to consumers. The incumbent government will also reduce reliance on imported fuel for electric power generation and will move towards optimal utilisation of local resources such as coal, water, renewable sources, local gas and nuclear. This intention of the Power Division has been included in the…

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SLAMABAD – Pakistan Petroleum Limited found one of the largest ever gas reserves in history of Pakistan. Pakistan Petroleum Limited (PPL) has found huge gas reserves in Margand block at Kalat, Balochistan. According to details, PPL owns 100% of the drilling rights of the block and had been drilling at Margand X-1 block since 30 June 2019. PM Imran Khan chairs high level special meeting in Islamabad Last year, PPL carried out a Modular Dynamics Testing (MDT) at a depth of 4,500 meters at the block. MDT proved the presence of large gas reserves.…

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World Wind Turbine leading manufacturer Denmark based company Vestas has expressed deep interest in establishing Wind Turbine factory in Pakistan and started ground work for exploring the feasibilities.This was revealed in a meeting of delegation of Vestas Company led by Danish Ambassador Rolf Holmboe with Federal Minister for Power and Petroleum Omar Ayub Khan here Thursday, said a press release.Special Assistant to the Prime Minister on Petroleum Nadeem Babar and Secretary Power Division Irfan Ali also participated in the meeting.The meeting was informed the keeping in view the targets set…

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Karachi, February 7, 2020: Pakistan Petroleum Limited (PPL), as part of its Corporate Social Responsibility programme, provided financial support to the tune of Rs. 8.245 million for provision of quality healthcare for disadvantaged communities residing around its operated Kandhkot and Adhi fields in Sindh and Punjab, respectively. Actg Chief Community Development Kamran Sher presented the cheque for Rs 6.5 million to President Al Shifa Trust Eye Hospital (ASTEH) (Retd.) Major General Rehmat Khan on February 7 in Rawalpindi for purchasing a phacoemulsification machine ─ a state-of-the-art ophthalmic surgical equipment─ for ASTEH, Sukkur. Similar equipment was…

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