Category: Shortcode

Nestlé powers PKR 2 billion renewable energy investment in Pakistan

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nestle-pakistan

Swiss Ambassador to Pakistan Georg Steiner inaugurates Nestlé Pakistan’s 2.5MW solar power plant near Multan spread over 4.8 acres and completed with an investment of PKR 480 million LAHORE: Nestlé reaffirms its commitment to Pakistan’s vision for renewable energy with investment of PKR 2 billion in renewable power and sustainability initiatives. In a first, Nestlé Pakistan inaugurated a 2.5 megawatt solar power plant completed with an investment of PKR 480 million at its Kabirwala Factory that aims to reduce 1,800 tCO2e of greenhouse gas emissions per year. Nestlé Pakistan’s PKR…

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SSGC seeks increase in average prescribed price

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SSGC

ISLAMABAD: Sui Southern Gas Company Limited (SSGC) has sought an increase in average prescribed price by Rs 226.18 per mmbtu and Rs 48.80 per mmbtu for estimated RLNG cost of service with effect from July 1, 2023. In its petition for review of its estimated Revenue Requirement/Prescribed price for fiscal year 2023-24, the SSGC has projected a shortfall in revenue requirement for the current fiscal year is at Rs 47.773 billion. A public hearing on the petition has been scheduled to be held on December 18 in Karachi.

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Industry and investors: Dispute resolution tribunal to be set up

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New-SIFC

ISLAMABAD: The government has decided to establish a specialised tribunal to resolve disputes expeditiously between industry and investors aimed at facilitating them onsite, well-informed sources told Business Recorder. The decision was taken at the first meeting of the working group, constituted by the SIFC in its sixth Executive Committee meeting held on October 24, 2023 under the chairmanship of Minister for Privatisation, Fawad Hasan Fawad. Chief Secretaries of Punjab, Sindh, KPK, Balochistan, Secretary Privatisation Division, Secretary Power, Secretary SIFC and representatives of Board of Investment, Privatisation Division and Ministry of…

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PM terms energy sector a ‘nightmare’

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Anwaarul-Haq

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq has described the energy sector as a nightmare for the country because government produces costly electricity and sells it at subsidised rate. He also underlined the need to bring about improvement in the taxation system. While talking to participants at the 12th National Balochistan Workshop, the caretaker prime minister said that there is a serious concern the way taxation are being done. He added that if there is one challenge which needs to be addressed in the entire governance structure that is the country’s taxation…

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Gas utility hires secretary accused of fraud

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Gas-tariff

SSGC initiates investigation, terminates employment contract ISLAMABAD: Sui Southern Gas Company (SSGC) has hired a company secretary who allegedly committed fraud in a private company earlier, leading to his termination from services. As the matter came to light, the disgruntled employees of SSGC, a public gas utility, wrote a letter along with relevant proof to company Board Chairperson Shamshad Akhtar for remedy. “This is to bring to your knowledge that the recently designated company secretary, Mateen Sadiq, who worked for JS Global from December 2006 to July 2011 as head…

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