Category: Shortcode

OGRA defends diesel pricecut amid industry backlash

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LPG-plant

KARACHI: The Oil and Gas Regulatory Authority (OGRA) dismissed the complaints of the oil industry over the recent reduction in diesel prices, saying the move was in line with the government’s policy guidelines. The prices of petrol and diesel have been worked out in accordance with the formula approved by the Economic Coordination Committee of the Cabinet on July 28th, 2020, according to ORGA. “Accordingly, reduction of Rs9/litre in petrol and Rs7/litre in diesel prices have been passed on to general public on July 16, 2023,” it said in a…

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Fuel cost adjustment: Discos, K-Electric seek hike in power tariff

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power-sector

ISLAMABAD: Power distribution companies, including Ex-WAPDA Discos and K-Electric, have sought an increase in power tariff on account of fuel charges adjustment (FCA) in August. The Central Power Purchasing Agency (CPPA), representing Ex-WAPDA distribution companies (XWDiscos), sought Rs1.8846 per unit hike and K-Electric demanded Rs2.336 per unit increase for the units consumed in the month of June 2023. The XWDiscos and K-Electric (KE) have submitted separate petitions to the National Electric Power Regulatory Authority (NEPRA) seeking a tariff increase. NEPRA has scheduled public hearings on July 26. Discos would fetch…

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China bank has rolled over $600m loan: PM

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China-bank

ISLAMABAD: Prime Minister Shehbaz Sharif has said that the Exim (Export-Import) Bank of the all-weather friendly country, China, has rolled over another $600 million for Pakistan, which helped to further increase the country’s foreign exchange reserves. “Our forex reserves are going up but I wish that these reserves should increase on the back of our own resources rather than the foreign debts,” he said while addressing the soft launch ceremony of the first-ever sports university here on Tuesday. Shehbaz launched the Rs5 billion PM Special Initiative for Development of Sports.…

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PRL Launches REUP to Boost Refining Capabilities,Urges Policy Support

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PRL-eyes

Karachi, July 13, 2023 – Pakistan Refinery Limited (PRL) is embarking on an ambitious project to enhance and modernize its refining capabilities through the Refinery Expansion and Upgrade Project (REUP). This initiative aims to propel PRL into a sustainable future, producing cleaner and environmentally friendly fuels, while meeting the growing demands of the market. However, the absence of a comprehensive refining policy to support industry development and attract investments remains a pressing concern. The REUP project involves the expansion of PRL’s crude processing capacity from the current 50,000 barrels per…

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Deugro Further Strengthens Wind Renewable Energy Efforts in Germany

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reneawable-energy

Hamburg, Germany, July 13, 2023 – deugro is pleased to announce the appointment of Stefanie Schöttle-Christiansen as Head of Wind Renewable Energy Germany, deugro, effective July 1, 2023. The addition further underlines the company’s commitment to sustainability, and especially the wind energy efforts in Germany. In her new role, Stefanie Schöttle-Christiansen will ensure deugro continues to meet the growing demands of the wind energy sector. Her dedication to excellence and thinking outside the box will ensure outstanding results and future-proof logistical concepts for deugro’s clients. Stefanie Schöttle-Christiansen joins deugro with…

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