Category: Shortcode

t least six oil vessels are at anchor or adrift, waiting to be unloaded as an import surge strains handling capacity at the Port Qasim, potentially adding to the ongoing diesel crisis in the country, officials said on Tuesday. Diesel availability is disturbed as waiting time of vessels is affecting stocks of petroleum products,” an oil sector source told The News. “These are paying huge costs in demurrages.” The source said out of six vessels, carrying diesel, petrol, and furnace oil, currently waiting to berth at the port, four belong…

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Mr Sharif ordered that even high loss-making areas be provided with full power supply during this period, even though he was alerted that it would have an additional impact on tariff. It is expected that the power sector will start receiving about 700 mmcfd of LNG instead of about 500 mmcfd at present. Secondly, the prime minister also asked the finance ministry to provide funds to the power sector as per agreed timelines to facilitate urgent maintenance and repairs and payments to fuel suppliers and independent power producers (IPPs). The…

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Pakistan International Airlines (PIA) Chief Executive Officer (CEO) Air Marshal Arshad Malik has completed his tenure after being appointed at the slot in 2018. He would be replaced by Air Vice Marshal Aamir Hayat. The PIA through its Twitter handler made the announcement saying that Malik completes his tenure as the CEO and bids farewell with a wish for a great and prosperous future for PIA and Pakistan. A spokesman for PIA said that they had issued advertisement for the appointment of new CEO of the national flag carrier. Air…

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Russia cut off natural gas to NATO members Poland and Bulgaria on Wednesday and threatened to do the same to other countries, dramatically escalating its standoff with the West over the war in Ukraine. European leaders decried the move as “blackmail.” A day after the U.S. and other Western allies vowed to speed more and heavier weapons to Ukraine, the Kremlin used its most most essential export as leverage against two of Kyiv’s staunch backers. Gas prices in Europe shot up on the news. The tactic could eventually force targeted nations to…

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Power Division and Board of Directors (BoD) of Central Power Generation Company Limited (CPGCL) are reportedly challenging each other’s stance on 747-MW Guddu Combined Cycle Plant damaged last year due to undoubted negligence, well informed sources told Business Recorder. The inquiries conducted so far are holding M/s GE and plant’s staff responsible for the damage of billions of rupees. Power Division has also held the Board of CPGCL responsible for not taking timely action against those responsible. Power Division wrote a letter to the Board on March 31, 2022, operating part…

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