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The Federal Cabinet which is scheduled to meet on Tuesday (today) with Prime Minister Imran Khan in the chair, is likely to approve payment of Rs 52.432 billion, 40 per cent of the total amount payable to 11 Independent Power Producers (IPPs of 2002 policy), import of 50,000 tons of sugar and Kamyab Pakistan Programme (KPP). The KPP has been streamlined in consultation with stakeholders to disburse micro-credit for uplifting marginalized segments of society. KPP has five components namely (i) Kamyab Karobar (ii) Kamyab Kissan (iii) Naya Pakistan low-cost housing…

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China’s pledge to stop building coal-fired power plants overseas could cull $50 billion of investment as it slashes future carbon emissions, analysts said, although Beijing’s own domestic coal programme is still propping up the dirty fossil fuel. Chinese President Xi Jinping said in a pre-recorded address at the United Nations General Assembly on Tuesday that China would help developing countries build green energy production and halt construction of coal power plants abroad. China has been under international pressure to announce an end to overseas coal financing as part of its…

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A delegation of All Pakistan CNG Association (APCNGA) led by its chairman Khalid Latif called on Finance Minister Shaukat Tarin at the Finance Division on Monday, ARY News reported. Federal Board of Revenue (FBR) Chairman Muhammad Ashfaq Ahmed, Oil and Gas Regulatory Authority (OGRA) Chairman Mansoor Khan, senior officers from the Petroleum Division and representative of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) also participated in the meeting. The APCNGA chairman briefed the Finance Minster about the operations of the CNG sector in Pakistan. Khalid Latif said that…

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China’s energy crisis is shaping up as the latest shock to global supply chains as factories in the world’s biggest exporter are forced to conserve energy by curbing production. The disruption comes as producers and shippers race to meet demand for everything from clothing to toys for the year-end holiday shopping season, grappling with supply lines that have been upended by soaring raw material costs, long delays at ports and shortages of shipping containers. Terms of Service Do Not Sell My Info (California) Trademarks Privacy Policy ©2021 Bloomberg L.P. All…

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Byco Petroleum Pakistan Limited (Byco), Pakistan’s largest vertically integrated oil refining company, today reported financial results for the year ending June 30, 2021. Despite tough business conditions, the company earned revenue and gross profit of Rs. 142.1 billion and Rs. 8.1 billion respectively during the twelve months, from Rs. 173.8 and Rs. 2.9 billion last year. The net profit climbed to Rs. 3.6 billion, or a profit of Rs. 0.67 per share, as compared to the year-ago loss of Rs. 2.4 billion, or a loss of Rs. 0.46 per share.…

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