Category: Shortcode

A Pakistan delegation led by Secretary Commerce, Sualeh Ahmad Faruqui will visit Afghanistan on July 17-18, 2022 for talks on import of coal for power generation, well informed sources told Business Recorder. The delegation visit is scheduled amid threats by Chinese company generating electricity on imported coal that they will revert to South African coal if NEPRA fails to resolve its issues related to payments. Sharing the details, sources said, during the third meeting of Border Management Committee (BMC) under the chairmanship of Federal Minister for Defence, Khawaja Asif it was…

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A consortium of Pakistan’s companies comprising Oil and Gas Development Company Limited (OGDCL), Mari Petroleum Company Limited (MPCL), Government Holdings (Private) Limited (GHPL), and Pakistan Petroleum Limited (PPL) (Operator) has established Pakistan International Oil Limited (PIOL) in Abu Dhabi as an independent joint-venture company. The consortium, which has been awarded Offshore Block 5 in Abu Dhabi’s second competitive exploration bid round, aims to commence the company’s operations. Offshore Block 5 covers an area of 6,223 sq. km and is located 100 km northeast of Abu Dhabi city. The offshore Block…

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President, Employers’ Federation of Pakistan(EFP), Ismail Suttar, has said that the Government of Pakistan should increase the price of gas for domestic consumption. As a country undergoing an economic crisis, the government must seriously take steps to curb wastage of precious gas resources. In a statement, EFP president said that Pakistan already has a deteriorating Balance of Payments (BOP) position and hence must take strict measures to curb its energy crisis. The biggest wastage of energy resources is through wastage of Liquefied Natural Gas (LNG) in Pakistan. Majority of countries…

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On July 14, 2022, we, the Heads of Government of India, Israel, the United Arab Emirates (UAE), and the United States, convened for the first leaders’ meeting of the “I2U2” Group. This unique grouping of countries aims to harness the vibrancy of our societies and entrepreneurial spirit to tackle some of the greatest challenges confronting our world, with a particular focus on joint investments and new initiatives in water, energy, transportation, space, health, and food security. We intend to mobilize private sector capital and expertise to modernize infrastructure, advance low…

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National Electric Power Regulatory Authority (Nepra) and National Transmission and Despatch Company (NTDC) are said to be on the warpath with respect to implementation of the Competitive Trading Bilateral Contract Market (CTBCM), sources close to Chairman Nepra told Business Recorder. Sharing the details, sources said, the Authority, in a letter to Managing Director NTDC, expressed serious annoyance at the latter’s letter in which serious questions were raised on the design of CTBCM. “The Authority is extremely disappointed at the highly unprofessional letter in which NTDC has raised very basic queries,” Nepra…

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