Special Report JJVL’s closure is a classic example of mismanagement and inefficiency that deprived the country of around 15 percent of local production and became a blessing in disguise for the LPG importers, who pocketed billions by eating up precious foreign exchange reserves. Now, winter is coming, which will be hard for the countrymen as…
The Pakistan Steel Mills Shareholders Group has raised a question over the debt liability settlement deal between Steel Mills and Sui Southern Gas Company Limited (SSGCL) against the land by the existing board of directors and management. It has approached the ministry of industries and production to follow the revival plan of Pakistan Steel Mills…
IT exports in August 2022 have remained flat whereas Starts Up Funding has also declined which shows a bleak picture of the IT sector in Pakistan. Information Technology (IT) exports from Pakistan for August 2022 increased by 14% MoM to US$227 million but remained flat when compared to the same period last year (SPLY). It…
The Cabinet Division has sought an explanation from the Oil and Gas Regulatory Authority (OGRA) on the matter of ill-treatment and misbehavior towards the delegation of the LPG Distributors Association by Member Gas OGRA, Mr. Muhammad Arif. Member Ogra had threatened LPG distributors in a meeting summoned on the issue of taking action against the…
The Securities and Exchange Commission of Pakistan (SECP) has notified the regulatory framework for the issuance of convertible debt securities (CDS) through the right offer. This new framework will allow listed companies to achieve their growth objectives by raising finance in a timely and cost-effective manner. This regulatory framework introduces a new product and way…
Oil and Gas Development Company (OGDC) has witnessed an increase of 46% in its profit which went up to Rs133.78 billion in the fiscal year ended June 30, 2022. The sharp increase in oil prices and Pak rupee devaluation against the US dollar have played a key role in generating Oil and Gas Development Company…
The World Bank (WB) said on Thursday that it planned to provide flood-related support of up to $ 1.7 billion through existing and new projects. It has also termed Pakistan’s policy shift towards renewables as a step in the right direction Pakistan’s policy shift towards renewables is a step in the right direction”, remarked Martin…
The Cabinet Division objects to granting an exemption for the import of urea on a G2G basis, bypassing PPRA. The cabinet division had observed that in case of an international tender for procurement of urea if any exemption from PPRA rules was required, prior consultation with the concerned authority i.e. PPRA was required in terms…
Amid a constant decline in gas production, the gas utilities continue to expand their network to add more customers due to political pressures. The production of natural gas production has witnessed a decline of over 6 percent during the financial year 2020-21. The Oil & Gas Regulatory Authority (OGRA) presents its “State of the Regulated…
The government has planned to subsidize seeds and fertilizers for flood-affected farmers before rabi season sowing. The World Bank will provide financial support of $22.2 million for the rehabilitation of flood-affected farmers through a project. Islamabad (22 Sep 2022): Federal Minister for National Food Security and Research Tariq Bashir Cheema welcomed a delegation led by…