The National Electric Power Regulatory Authority (Nepra) has imposed a fine of Rs 50 million on the Central Power Generation Company Limited (CPGCL) over a breakdown that plunged the whole country into darkness. NEPRA had taken notice and conducted an investigation into a power breakdown to fix responsibility over those involved in it. While taking…
Pakistan is negotiating a transit trade agreement with Kazakhstan and Tajikistan to diversify export markets. Pakistan traditionally depends on export markets of the Middle East, the United States (US), and the European Union (EU). The central Asian States offer a big potential for exports which is an untapped area. Naveed Qamar Commerce Minister has stated…
Following concerns raised by trading partners, the Economic Coordination Committee (ECC) has lifted the embargo on over 860 products. Mr. Miftah Ismail, Federal Minister for Finance and Revenue, presided over the Economic Coordination Committee (ECC) of the Cabinet meeting at the Finance Division. The Ministry of Commerce provided an overview of import bans and quantitative…
Pakistan Iran Free Trade Agreement (FTA) is on the cards as two countries have pledged to finalize and sign Free Trade Agreement (FTA) to remove barriers in bilateral trade in next six months. In order to increase bilateral trade both sides expressed their desire to finalize and sign the Free Trade Agreement within the next…
Ogdcl will provide 28.248 million in financial assistance for upgrading Taaleem Foundation Grammar School at Kohlu in Baluchistan Province. With the dream of seeing a prosperous Pakistan, OGDCL feels that extending a helping hand to those communities lagging behind is crucial for development. OGDCL believes that by proving ourselves as responsible, efficient & conscientious operators,…
Petrol price in August 2022 has gone up by Rs 6.72 per litre, effective August 16, to put an additional burden on the masses. However, it decreased the price of high-speed diesel oil (HSD) by Rs 0.51 per litre and the cost of Kerosene oil by Rs 1.67 per litre. The government increased the price…
The Oil and Gas Regulatory Authority (OGRA) on Monday slashed the prices of imported re-gasified liquefied natural gas by up to 2.92 percent. The regulator reduced the LNG Price for the consumers of Sui Southern Gas Company Limited (SSGCL) and Sui Northern Gas Pipeline Limited (SNGPL). As per the notification issued by the Oil and…
The Economic Coordination Committee (ECC) is set to increase the margins of OMCs by over 63% and deregulate the prices of petroleum products from November 1, 2022. It will decide at its meeting this week. The Petroleum Division has proposed an economic coordination committee (ECC) to raise the margin of oil marketing companies (OMCs) by…
The Economic Coordination Committee (ECC) has okayed the issuing of a government guarantee to raise Rs 50 billion in financing from a consortium of banks to bailout cash-starved Pakistan State Oil (PSO). Ministry of Energy (Petroleum Division) sought approval from the economic decision-making body in a meeting held on Thursday. ABL, NBP, MCB, UBL and…
The Economic Coordination Committee (ECC) has deferred approving increases in the margins of oil marketing companies (OMCs) and revising oil prices on a weekly basis. Sources said that Miftah Ismail chairman ECC said that they would consider the agenda in the upcoming meeting. The petroleum division had requested ECC to approve margins of ECC by…