Category: News & Announcement

ISLAMABAD: The government should speed up reforms in the energy sector so that the economy can progress in a sustainable manner, a business leader said Monday. The infamous circular debt has reached Rs1.7 trillion and it will surpass Rs two trillion by the next year posing a serious threat to the economy, said Shahid Rasheed Butt former president ICCI. He said that rising prices of electricity and gas will jeopardise industrial future of the country, therefore, mismanagement and inefficiency in these sectors should be tackled. Shahid Rasheed Butt said that…

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A consortium of PPL, Mari Petroleum Company Limited (MPCL), Oil and Gas Development Company Limited (OGDCL) and Government Holdings Private Limited (GHPL) are to participate in a bidding process of one block of hydrocarbon in Abu Dhabi with an investment of $ 400 million spread over five years. PPL has embarked upon an aggressive exploration and development program both within and outside Pakistan to replenish and possibly enhance its oil and gas reserves. During the last five years, the company’s oil and gas exploration and development activities both within Pakistan…

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By SYED AKHTAR ALI ISLAMABAD: Biofuels are agro-based fuels as opposed to fossil fuels, which include both liquid and gaseous forms. Current ethanol production is crop based, called 1G Ethanol, made out of fermentation of corn, sugar and others. Recently, 2G Ethanol (also called advanced liquid biofuel) has been introduced, which is based on cellulosic material such as bio-waste material including crop waste, municipal solid waste, sewage, etc. Biofuels have been mandated for all petroleum products including gasoline, diesel and furnace oil. Biogas and bio-CNG are gaseous inclusions. Our discussion will focus…

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ISLAMABAD: Vietnamese firm Phat Mechanical Manufacturing Company (Cophaco) has expressed willingness to import light fans from Pakistan for their supply in the local market following increased demand for luxury light fans primarily in resorts and hotels in Vietnam. The firm is one of the most prominent manufacturers of electric fans in Vietnam and exports its products to the US, Thailand and South Korea. According to Pakistan Electric Fan Manufacturers Association, Cophaco intends to import light fans from Pakistan to meet demand in the Vietnamese market. The Engineering Development Board (EDB), along…

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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has worked out minor adjustments in the costs of various imported petroleum products in the range of 1.8 per cent to a maximum 3.2pc for January 2020. The Finance Division will make the final decision on Tuesday whether to keep the petroleum products prices unchanged largely as a good gesture of the New Year or pass on the raise to end consumers. The Ogra has worked an increase of Rs2.61 or 2.3pc in the per litre petrol price. In case, government approves…

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