Category: Shortcode

SIFC wants to know if Aramco’s interest in refinery project persists

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SIFC-initiatives

ISLAMABAD: The Apex Committee (AC) of the Special Investment Facilitation Council (SIFC) has directed Pakistan’s ambassador to Saudi Arabia to approach Saudi Aramco Refinery Project regarding current status of their interest in the refinery project, well informed sources told Business Recorder. The AC also directed the Petroleum Division to assess the investment interest of other parties also in the project. Regarding requirement in Brown/ Green Field refinery sector, Petroleum Division intimated that there will be a gap between local refining production and projected demand of petroleum products of around 9 Million…

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Petrol, diesel prices left unchanged for next fortnight

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Petrol-price

ISLAMABAD: The care­taker government decided to keep the prices of petrol and high-speed diesel (HSD) unchanged for the first fortnight of the new year. According to a statement issued by the finance ministry, the per-litre price of petrol will remain at Rs267.34 and that of HSD at Rs276.21 until mid-January. The ministry said the government had left the prices unchanged on the recommendation of the Oil and Gas Regulatory Authority (Ogra). The latest review shows that petrol and diesel prices increased by around Rs50 per litre during the year, as…

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Pakistan beyond COP28

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COP28

Every United Nations Climate Change Conference – or COP – carries the weight of expectation, the pressure to inch closer to a sustainable and climate-resilient future. COP27 delivered the Loss and Damage Fund, a vital lifeline for communities already bearing the brunt of a changing climate. COP28, which came at the heels of the warmest year recorded in human history, witnessed a different kind of milestone – the mention of “fossil fuels” in the final text, a first in nearly three decades. But the euphoria quickly dimmed upon closer inspection.…

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Alleged violation of laws: Sacked MD of NTC to face disciplinary proceedings

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Pakistan-Telecommunication

ISLAMABAD: The sacked Managing Director, National Telecommunication Corporation (NTC) is to face disciplinary proceedings for allegedly violating prescribed laws before assuming charge as Chairman NTC, well-informed sources told Business Recorder. The Ministry of Information Technology & Telecommunication (MoI-T&T) submitted a summary to the Cabinet stating that National Telecommunication Corporation (NTC) was established under Section 41 of the Pakistan Telecommunication (Re-Organization) Act, 1996, for provision of telecommunication services within Pakistan on a non-exclusive basis only to the armed forces, defence projects, Federal Government, Provincial Governments or such other Government institutions as the…

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Coal procurement process: Lucky Commodities lodges complaint with minister

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coal

ISLAMABAD: M/s Lucky Commodities is said to have lodged a complaint with caretaker Minister for Power and Petroleum, Muhammad Ali on coal procurement process for Sahiwal imported coal-fired power plant, In a letter to caretaker Minister, the company referred to a bidding document dated November, 2023, floated by Huaneng Shandong Ruyi (Pakistan) Energy (Private) Limited for procurement of coal for its coal-fired power plant in Sahiwal, with a bid deadline set for November 29, 2023. The company argued that it seems this tender may be inclined to favor a single…

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