Category: Shortcode

Italian Embassy Deputy Head of Mission Dr Roberto Neccia on Tuesday said that Italy and Pakistan should work to increase bilateral trade at least up to €5-6 billion per annum. Speaking to business community at the Islamabad Chamber of Commerce and Industry (ICCI), the ambassador stressed that both countries had the potential to achieve the trade target. Current trade of €1.5 billion between Italy and Pakistan was much lower and did not correspond to the actual trade potential of both countries, he said. Neccia underlined that a trade section was…

Read More

The coalition government, on Tuesday, failed to take a clear policy stance on the privatisation of power distribution companies despite Rs536 billion being added to the circular debt in the previous fiscal year. For the second time in the past four months, the Cabinet Committee on Privatisation (CCOP) did not decide on a summary that had been resubmitted to hand over management of the power sector distribution companies to the private sector. According to the Finance Ministry “the CCOP after detailed deliberation directed the Privatisation Commission to present a detailed…

Read More

WWEA expresses solidarity with the flood victims in Pakistan. The country has been hit by the so far worst single climate disaster. Following extremely heavy monsoon rains, a third of the country is currently under water and more than 30 million people have been directly affected by the floods, many of them lost their homes. WWEA calls on governments and people around the world to support the people of Pakistan in this tragic crisis. Immediate aid is needed to help the country cope with the worst effects of the disaster,…

Read More

Owners said more than 500 trucks have been left stranded on the roads of the two provinces and the provincial governments have not taken any step to rescue them. The oil supply in the country will be badly affected, if they are not rescued in two days, they warned. All Pakistan Oil Tanker Association Chairman Mir Shams Shahwani said heavy traffic had come to a halt in Sindh, Balochistan and other parts of the country after heavy rains and floods. “Our trucks have been stranded in far-off areas for two…

Read More

Oil Marketing Companies (OMCs) have concerns over terms of references (ToRs) to be developed by the Oil and Gas Regulatory Authority (OGRA) with the specified timeline regarding the deregulation of petroleum products, The News learnt on Monday. The deregulation of prices would provide OMCs the liberty to fix prices of petroleum products based on their cost of local procurement / imports. The rationale of deregulation of prices would enable each OMC to absorb their cost / losses, which were incurred in terms of forex exposure, incidentals, demurrage cost, storage cost…

Read More