Category: Shortcode

Govt Proposes Record Rs1.22 Trillion for PSDP with Major Focus on Energy Sector ISLAMABAD:

Admin
New-PSDP

In a significant policy shift, the government has proposed a record Rs1.22 trillion for the federal Public Sector Development Programme (PSDP) for the next budget, with a substantial 59% allocation for infrastructure projects. This proposal marks a 64% increase from this year’s downward revised PSDP and a 30% rise from the original budget of the current fiscal year. The Annual Plan Coordination Committee (APCC) has prioritized major energy sector projects, dedicating 31% of the budget, or Rs378 billion, to these schemes—an impressive 212% increase over the previous year’s allocation. This…

Read More

Govt May Maintain Gas Sale Prices from July 1

Admin
Gas-supply

ISLAMABAD: The government is considering maintaining the natural gas sale price from July 1, 2024, contrary to the 10% reduction in system gas prices recommended by the Oil and Gas Regulatory Authority (OGRA). This move aims to reduce the prior years’ shortfall, which has reached Rs1,500 billion, by Rs100 billion in a staggered manner. Maintaining the gas prices is also intended to facilitate the IMF’s $6-8 billion loan program. The government is likely to keep gas prices unchanged for the fertilizer sector but will increase the gas price for captive…

Read More

OCAC Urges Karachi Authorities to Repair Keamari Oil Installation Area Before Monsoon

Admin
fuel-oil

KARACHI: The Oil Companies Advisory Council (OCAC) has raised serious concerns about the deteriorating condition of the Keamari Oil Installation Area (KOIA) ahead of the predicted heavy monsoon rains. In a letter addressed to the chairperson of the Karachi Port Trust (KPT) and Karachi’s mayor, the OCAC highlighted the urgent need for infrastructure repairs to prevent potential disruptions in the oil supply chain. Despite repeated requests, no significant action has been taken to address the challenging conditions in the KOIA. The Pakistan Meteorological Department (PMD) has forecasted a more than…

Read More

Maritime Milestone for Pakistan as Largest Container Vessel Docks at KPT

Admin
Mari-time

KARACHI: In a historic event, the MSC Anna, the largest container vessel ever to dock in Pakistan, arrived at South Asia Pakistan Terminals (SAPT) on Wednesday. The vessel, with an impressive overall length of 400 meters and a capacity of 19,368 TEUs, marks a significant milestone in Pakistan’s maritime history, announced by Karachi Port Trust (KPT). The docking of MSC Anna at SAPT was overseen by Rear Admiral Rizwan Ahmed, General Manager of Operations. Hutchison Ports Pakistan, which operates the terminal, celebrated the arrival of MSC Anna, emphasizing the terminal’s…

Read More

NEPRA Names K-Electric Top Performer in Electricity Provision

Admin
Nepra-KE-1

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has recognized K-Electric as the top performer in its “HSE Performance Evaluation Report 2024.” This annual assessment evaluates health, safety, and environmental (HSE) standards within the electricity sector, ensuring adherence to strict safety protocols and continuous improvements. K-Electric has shown significant advancements across all areas, from power generation to distribution, consistently meeting NEPRA’s rigorous HSE benchmarks. The report highlights K-Electric’s impressive performance, awarding it the highest consumer satisfaction rating for electricity provision. Faisalabad Electric Supply Company (FESCO) follows in second place, with…

Read More