Category: Recent Post

Special Assistant to Prime Minister on Power Tabish Gauhar has suggested the privatisation of five power distribution companies in Punjab in the first phase after clearing their loans to improve the balance sheet and enable them to borrow from banks for restructuring. During discussions in a meeting of the Cabinet Committee on Privatisation (CCOP), he commented on the draft report prepared by a working group and suggested that it would be more appropriate to privatise five distribution companies in Punjab in the first phase and the remaining three more challenging…

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The federal government will have strong footprints in state-owned enterprises (SOEs) even after approval of a new Act of parliament, which is contrary to the objectives of ensuring efficient and financially viable public sector firms by ending political interference. The draft of State-owned Enterprises (Governance and Management) Act 2021 suggests that the government still does not want these entities to be truly free from political meddling. But the general principles and objectives mentioned in the proposed legislation indicate that the entities may be revived, subject to meaningful autonomy. The federal…

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LAHORE: The construction work on 21MW Tangir Hydropower Project, meant for providing electricity to the people in various areas during construction phase of Diamer Bhasha Dam, has commenced, according to the Water and Power Development Authority (Wapda). The construction works on eight sites of Diamer Bhasha Dam and nine of the Dasu Hydropower projects are also underway these days on a fast-track basis. Bhasha Dam project sites where the construction work was going on include access tunnel, access roads, upstream and downstream cable bridges, a senior official told Wapda Chairman…

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Canada’s energy industry saw a record US$18 billion worth of mergers and acquisitions year to date, data showed on Tuesday, while analysts predict 2021 will be a bumper year for M&A in the Canadian oil and gas industry. According to data from Dealogic, cited by Reuters, energy deals in Canada between the start of 2021 and March 18 totaled US$18 billion, the highest combined value of energy deals in more than 25 years. Moreover, Canadian energy deals accounted for 16.2 percent of the global M&As between January 1 and March…

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The new policy prepared and finalised by the government for petroleum refining seems lucrative. Under the policy, an incentive package is on offer to those willing to establish deep conversion refineries anywhere in Pakistan. Similarly, the plan also offers the same incentives to the local refineries provided they decide to upgrade themselves. The policy, which will be implemented once the Economic Coordination Committee (ECC) approves it, has many exemptions for the investors. The exemption from customs duty, withholding tax or any other levy on import of any capital goods required…

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