Category: Uncategorized

Saudi Envoy Lauded RE Policy of GOP

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Federal Minister for Energy Muhammad Azhar received His Excellency Nawaf bin Saeed Al-Maliki, Ambassador of Saudi Arabia to Pakistan in his office today. The sides discussed matters of mutual interest relating to on-going bilateral cooperation in the energy sector.The Minister apprised the Ambassador of government’s initiatives in energy sector focusing on induction of renewable energy policy to harness local resources for power generation and; said that revival of exploration and production activities in oil & gas sector would attract investment in the country. The Minister also highlighted expeditious steps taken…

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Deemed duty’s collection, utilisation continue to haunt refineries

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The deemed duty collection in the past for upgradation purposes continues to haunt refineries as the Cabinet Committee on Transport and Logistics (CCoTL) here on Monday directed the Petroleum Division to come up within two days with details of deemed duty on POL products since its imposition on the POL consumers and utilisation of the amount collected in this head. The CCoTL sees massive scam of billions of rupees in the amount collected as deemed duty, which was not fully utilised for upgradation of the refineries but has been used…

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OMCs seek an end to ongoing ‘witch-hunt’

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The Oil Marketing Association Pakistan (OMAP) on Tuesday called for an end to the witch-hunt of the oil marketing companies (OMCs) saying it was increasingly becoming difficult for them to operate under the current circumstances. OMAP Chief Executive Officer Dr Ilyas Fazil in a letter to Energy Minister Hammad Azhar appealed for an end to the spate of inquiries against the OMCs in the wake of the June 2020 Petrol Crisis Commission’s report. “This sector is the most important one to keep the wheels of the economy turning and must…

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Mines dept claims 15pc hike in revenue collection

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The Khyber Pakhtunkhwa Mines and Mineral Development department has increased its revenue collection by more than 150 per cent over the past two years. According to documents available with Dawn the mines and minerals department in 2018-19 had collected Rs2.1 billion, however, in 2019-20 its revenue collection soared to Rs3.2 billion and it touched Rs5.2 billion in the last fiscal. “This is an increase of over 150 per cent over a period of two years,” an official told Dawn. The official said that during the same period, the department issued…

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82pc of released PSDP funds utilised in FY21

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The utilisation of funds stood at 82 percent against the releases in Sindh during the financial year ended on June 30, 2021 under the Public Sector Development Programme (PSDP). According to a summary of the provincial government, the release of amount and its utilisation also includes the provincial and district Annual Development Programmes and federal grants and foreign assistance for the development projects. The Sindh government’s PSDP included Rs155 billions for provincial ADP, Rs15 billions for district ADP, Rs54.641 billions for foreign project assistance and Rs8.3 billions from federal grants.…

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