Category: Recent Post

ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar on Tuesday said the petroleum sector had the potential to increase the country’s gross domestic product (GDP) growth rate by 2-3 per cent. During the last year, the country’s total tax collection stood at around Rs4,000 billion, out of which Rs1,000bn was contributed by the petroleum sector in the form of indirect taxes, he said while addressing the launching ceremony of first-ever private sector liquefied natural gas import under the government’s initiative. Alone the petroleum sector has the…

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Karachi, September 17, 2020: Pakistan Petroleum Limited (PPL), a frontline Exploration and Production (E&P) company for seven decades, has played a key role in providing energy for the country with a current contribution of more than 20 percent to national gas supplies. “The company’s over a 100-year rich history is linked with its predecessor and major stakeholder, Burmah Oil Company, a British company, once based in the United Kingdom founded back in the 19th century. PPL, now a public sector company since 1997, has a multinational legacy and DNA, governed…

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Karachi, September 30, 2020: Karachi: First Women Bank Limited (FWBL) signed an MOU with Sehat Kahani-one of the fastest growing health tech companies in Pakistan, to Launch an E- Health Financing Loan to female health workers to allow them to set up their clinics, where patients can get connected to a doctor through the Sehat Kahani application. The MoU was signed by Mr. Ali Raza Head Business FWBL and Dr. Sara Saeed Khan CEO Sehat Kahani.  Ms. Shahida Javed Acting President FWBL, Ms. Faiqa Naseem Deputy Director State Bank of…

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Karachi, October 1, 2020: The Government of Pakistan has notified the achievement of Financial Closing by ThalNova Power Thar Private Limited (TNPTL), an associated company of Pakistan’s largest Independent Power Producer, The Hub Power Company Limited (Hubco) at a ceremony chaired by Mr. Shah Jahan Mirza, Managing Director Private Power & Infrastructure Board (PPIB) in Islamabad. TNPTL has been incorporated to set up a 330MW mine-mouth lignite-fired power plant, one of the first power projects to utilize the local lignite at Thar Coal Block II for power generation and is joined by a…

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ISLAMABAD: The government’s deals with 47 Independent Power Producers (IPPs), which are yet to be translated into binding agreements, will have a financial impact of Rs 836 billion based on 5 per cent rupee depreciation per annum in 28 years, well-informed sources in Power Division told Business Recorder. In return the government has to clear overdue receivables of IPPs of about Rs 400 billion in one go, for which no financial instrument is available at the moment. In August 2019, the government constituted a committee to look into the issues…

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