Petroleum products sales surge amid economic recovery

KARACHI: Oil marketing companies’ sales jumped 21 percent in November 2020 as compared to the same month last year as petroleum demand is picking up amid economic recovery. However on sequential basis petroleum consumption inched up one percent as partial lockdown was imposed amid second wave of the pandemic. As… Continue reading

K-Electric forms subsidiary for different initiatives taken by the company in the energy sector

KARACHI: As part of a diversification strategy, K-Electric Limited has incorporated a wholly owned subsidiary, KE Venture Company (Pvt) Ltd (KEVCL), which will be a holding company for different initiatives taken by the company in the energy sector, the shareholders were informed at the annual general meeting. Initially, the subsidiary… Continue reading

KPT signs MoU with Metro Gas for establishing a virtual gas pipeline

KARACHI: Metro Gas Pvt Ltd has entered a memorandum of understanding (MoU) with Karachi Port Trust (KPT) for establishing a virtual pipeline system for disseminating liquefied natural gas (LNG) across Pakistan. The MoU was signed by Rear Admiral Zaka ur Rehman, GM Operations, on behalf of KPT and Owais Mir,… Continue reading

KE commits to PKR 10 bn investment in community uplift under Sarbulandi initiative

Karachi: As part of its wider corporate sustainability and community engagement efforts, K-Electric (KE) has launched the Sarbulandi initiative, a PKR 10 billion investment in power distribution infrastructure for those parts of Karachi which suffer from the societal menace of power theft. With the vision of eradicating power-theft and the… Continue reading

Circular debt a threat for government’s move of power tariff cut for SMEs

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has observed the growing circular debt in the power sector is a persistent challenge for the government’s recent move of cut in power tariff for small and medium enterprises (SMEs). FPCCI President Mian Anjum Nisar, in a written statement, appreciated… Continue reading

NEPRA does not approve mechanism for K-Electric participation in CTBCM model

KARACHI: The National Electric Power Regulatory Authority (NEPRA) has not approved the mechanism for the participation of K-Electric Limited (KEL) in the Competitive Trading Bilateral Contract Market (CTBCM) model. In the determination on detailed design and implementation roadmap of CTBCM issued on Thursday, NEPRA has advised KEL, Central Power Purchasing… Continue reading

Superintendent Customs/ Preventive, Principal Appraisers entitled to all BS-17 perks: FBR

KARACHI: The Federal Board of Revenue (FBR) has notified on Wednesday that all the Superintendent Customs, Superintendent Preventive Services and Principal Appraisers who were allowed time scale BS-17 are entitled to privileges of premature increment, rental ceiling, house rent allowance and medical allowance. In pursuance of judgment of FST duly… Continue reading

All hurdles removed in provision of economical CNG OGRA has started issuing licences for new CNG stations Masses will get fuel that is 40 percent cheaper: Ghiyas Paracha

The All Pakistan CNG Association (APCNGA) on Monday said the government is promoting CNG to reduce urban pollution, cut oil import bill and increase employment. The government has taken a number of commendable steps including removing the ban on setting up new CNG stations, said Ghiyas Abdullah Paracha, Central Chairman… Continue reading

Government committed to bring deep rooted reforms in the energy sector

KARACHI: The Federal Government is committed to bring deep rooted reforms to cater the national energy requirement and increase the produce of indigenous gas through new explorations which shall likely be achieved in next five years. Under the Prime Minister’s directives, in order to facilitate industries and exports, necessary arrangements… Continue reading

HUBCO 330MW ThalNova Power Thar Private Limited achieves financial close

Karachi: The Government of Pakistan has notified the achievement of Financial Closing by ThalNova Power Thar Private Limited (TNPTL), an associated company of Pakistan’s largest Independent Power Producer, The Hub Power Company Limited (Hubco) at a ceremony chaired by Mr. Shah Jahan Mirza, Managing Director Private Power & Infrastructure Board… Continue reading