Category: Shortcode

Barrick Gold Corporation The groundbreaking partnership agreement between Barrick, the federal government of Pakistan and the provincial government of Balochistan should unlock the enormous value of Reko Diq, one of the world’s largest undeveloped copper and gold deposits, president and chief executive Mark Bristow said today. Speaking on an investor call, Bristow said the project represented a unique mining … Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) The groundbreaking partnership agreement between Barrick, the federal government of Pakistan and the provincial government of Balochistan should unlock the enormous value of Reko Diq, one…

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The government of Punjab has urged federal government to instruct Punjab-based power Distribution Companies (Discos) to do away with habitual illegitimate practice of adjustment of Electricity Duty against outstanding payables of provincial government connections and GST subsidy on private agriculture tube-wells. Punjab government raised the issue through a letter with the Ministry of Energy (Power Division), which is the administrative Division of power Distribution Companies. Energy Department of Punjab government, in its letter has demanded that the Discos of Punjab be directed to transfer pending Electricity Duty collected from the…

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Consumers are significantly reducing their monthly electricity bills by generating electricity from sunlight /heat. IESCO Chief Executive Dr Muhammad Amjad Khan has instructed all field formations to provide complete information about the procedure and benefits of net metering to consumers. According to the details, by March 2022, IESCO received 5417 applications for net metering connections, out of which 5325 applications have been approved for net metering by NEPRA and the concerned IESCO SDO office and so far 5242 net metering connections have been installed in IESCO region. Net metering consumers…

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Financial woes of country’s nuclear power plants, established by China, are not different from other power plants established under different power policies. Well informed sources told Business Recorder that operation of the nuclear power plants and repayment of foreign/ local loans have become a challenge in the absence of requisite payment by the Central Power Purchasing Agency –Guaranteed (CPPA-G). The sources said that Strategic Plans Division (SPD) has asked the concerned stakeholders to hold an inter-ministerial meeting on priority to discuss and address the evolving situation. Pakistan Atomic Energy Commission (PAEC) and…

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Energy prices have continuously been rising in Pakistan since 2018, with only one notable cut in March this year. Now the Sui Southern Gas Company has asked for a 45% raise from July 1 to overcome its revenue shortfall in the next fiscal year. OGRA held a public hearing last week to consider the different aspects of the prescribed price and its relation to the company’s revenues. The SSGC says a 45% hike in gas price is needed to meet its revenue shortfall of Rs88 billion. This is the side…

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