Category: News & Announcement

The Lahore Electric Supply Company (LESCO) has suffered a loss of Rs 13.5 million for offering concessions in commercial bills of electricity, said sources. They said the officials in McLeod Road division exceeded to their powers by offering electricity on concession rates to commercial consumers in between the months of July to October and causes millions of rupees loss to the revenue of the Company. According to sources, the inquiry committee has directed for recovery of loss from the respective consumers besides department action against the responsible ones. However, the…

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ISLAMABAD: The federal government on Friday reiterated that people of Pakistan — not any particular province — have the first right of use over natural gas as they are its ultimate owners. In a written rejoinder to the Sindh chief minister’s assertions that the province was being deprived of its due share of gas, the ministry of energy (petroleum division) insisted that “citizens of Pakistan (not any particular province) have the first right of use given that citizens are ultimate owners of this resource”. It said this interpretation of Article…

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Chief Executive Officer (CEO) Karachi Electric (KE), Moonis Alvi on Thursday said that the power utility’s unpaid receivables are a serious threat to investments in power projects in Karachi. Talking exclusively with Business Recorder, he said that K-Electric has launched an appeal for the recovery of dues of more than Rs 50 billion, pending with the government of Sindh (GoS) and other provincial entities. The appeal has been made in the interest of the city of Karachi as the stuck-up receivables pose a serious threat to continuity and reliability of…

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Provincial Minister of Local bodies Sindh, Nasir Hussain Shah, has assured industrialists of his help taking up the issue of gas outage in industrial areas of the city with the federal government. Speaking at a meeting of Korangi Association of Trade & Industry (KATI), he said that many of projects to improve connectivity would be start soon. He said that a 4-lane bridge from Korangi Causeway to Crossing would be built soon. Shah further said that industry is our first priority as per directions of the party leadership. He said…

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Byco Petroleum Pakistan Limited is celebrating its Silver Jubilee. Byco was founded on 9 January 1995, and has become Pakistan’s largest oil refining company by installed capacity in the past quarter century. Byco has made untiring efforts to serve the nation and to achieve its mission of becoming Pakistan’s premier Oil Company despite facing serious obstacles in its path. Byco’s CEO, Amir Abbasi, remarked on Byco’s Silver Jubilee: “On 9 January 1995, my father, Parvez Abbasi, and I founded this company with the vision to make Pakistan self-sufficient in energy…

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