Aftab Ahmed The personal file of Tariq Rizavi managing director, Pak Arab Refinery Limited (Parco) relating to his appointment goes missing mysteriously from Petroleum Division, causing a delay in appointing a new head of the refinery. Despite a file of the head of Parco goes missing, he has been receiving an extension in his job….
Aftab Ahmed The inquiry committee has suggested the government recover Rs 100 billion immediately from mighty power producers–IPPs. The committee found that the power plants had recovered their investment in around two years after installing plants under power policy 2002. The Inquiry committee headed by former chairman Securities Exchange Commission of Pakistan (SECP) has recommended…
Aftab Ahmed Islamabad: The inquiry launched by National Accountability Bureau (NAB) against irregular appointment on key posts in State-run-OMC Monopoly—PSO, has landed now in Petroleum Division that may implicate top officials of the division sitting on the board of directors of the state-run entity. The board of directors of PSO has also key role in…
Aftab Ahmed Islamabad: The Inquiry Committee on Sugar has pointed fingers at the six political and influential groups which include the Jahangir Tareen and the Sharif family involving in cartelization to manipulate prices of sugar in the market. Following the findings of the FIA Inquiry Committee, the government has formed an Inquiry Commission to probe…
Aftab Ahmed Descon Engineering Limited has announced pay cuts up to 30 percent following a current global economic slowdown in wake of the coronavirus outbreak effective from April 2. In addition to placing a cut on salaries, the management of Descon Engineering Limited, owned by Razak Dawood, a cabinet member of Imran Khan’s PTI, has…
Aftab Ahmed The National Accountability Bureau (NAB) has started an inquiry against the top officials in the Petroleum Division of Ministry of Energy for misusing the authority and loss to the national exchequer in different cases relating to the oil and gas exploration sector along with importing and production of gas. The NAB, an apex…
Muhammad Moen The Cabinet Committee on Energy (CCoE) hits back at the National Electric Power Regulatory Authority (Nepra) in defense of power division over a row on debt in the power sector and directs regulator to ensure the accuracy and integrity of data on circular debt. The tussle between Nepra and Power Division heightened when…
News Desk Indus Motor Company (IMC), manufacturer of Toyota vehicles in Pakistan, announced the launch of the all-new Toyota Yaris at an attractive price starting at PKR 2.349 million. The company commenced bookings of its new vehicle on 19th March 2020. Staying true to its focus on continuous improvement and high level of localization, IMC…
Aftab Ahmed Islamabad: M/S LOTTE Chemical has warned to shut down plant due to non-availability of raw material. Earlier, the government had refused to allow Lotte Chemical to import raw material from India. The South Korean firm has explored avenues other than India to import raw materials. But no country had surplus raw material. M/s….
Aftab Ahmed As the company is facing chaos for a long due to the absence of a regular head, four potential candidates are in a race of heading state-run oil and gas explorer Pakistan Petroleum Limited (PPL). Since 2018, there has been no permanent head of PPL. The previous government of PML-N had appointed Syed…