Category: Shortcode

At the Energy Summit held in Karachi, industry leaders underscored the pivotal role of insurance in driving investment and innovation within Pakistan’s energy sector. Addressing critical challenges and exploring opportunities for sustainable development, experts emphasized the importance of insurance coverage in mitigating risks and promoting long-term confidence among investors. Chairman of Lockton MENA, Ata Khatib, highlighted the indispensable nature of insurance in compliance with international standards, providing assurance to foreign investors and lenders. Insurance coverage enhances investor confidence and ensures project bankability, crucial for financing renewable energy projects. Dr. Jason…

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Pakistan Limited (SPL) revealed its financial results for the fiscal year ending December 31st, 2023, showcasing a remarkable turnaround with a profit after tax of Rs 5.8 billion. This marks a notable shift from the previous year’s loss of Rs 72 million. The positive financial trajectory comes amidst strategic changes, including the pending sale of Shell Petroleum Company Limited’s majority interest in SPL to Wafi Energy LLC. The completion of this transaction awaits regulatory approvals and other formalities. SPL expressed appreciation for the government’s recent initiatives to bolster industry margins…

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ISLAMABAD: The interim government announced on Friday an adjustment of Rs4.25 per litre in the premium on petrol and 26 paisa on high-speed diesel (HSD), considering exchange rates and dealers’ margins in petroleum product prices, effective from March 1, 2024. Following a fortnightly review on Thursday, the government increased the price of petrol by Rs4.13 per litre, while maintaining the rate of HSD at the previous fortnight’s level (February 16-29). The cost of supply for Pakistan State Oil (PSO), factoring in an average of platts with incidentals and duty, resulted…

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