A committee headed by Deputy Chairman Planning Commission recommends registering LPG distributors for sustainable LPG pricing. Atif Abbas Liquefied Petroleum Gas (LPG) is fuel for the common man in Pakistan. But it is not a sustainable sector due to volatile prices. The different governments have formed policies during their tenures to make it sustainable. Earlier,…
Aftab Ahmed The Minister for Maritime Affairs has protested over denying the first right of the Pakistan National Shipping Corporation (PNSC) for shipping imported products. He had taken up the matter of PNSC several times on different forums. Now, he took up the matter of PNSC in a recent meeting of the cabinet. Zaidi raised the…
News Desk The National Accountability Bureau (NAB) has accepted a plea bargain of Rs 1.39 billion from an accused involved in Rs 23 billion alleged corruption in the state-owned Pakistan State Oil (PSO). In a report submitted in an accountability court, NAB had informed that state-owned company PSO had suffered a loss of Rs 23…
News Desk The Petroleum Division has assured state-run oil marketing company Pakistan State Oil (PSO) to extend support in embracing new technologies specifically electric vehicle charging and automation. Federal Minister for Energy Omar Ayub Khan and Special Assistant to the Prime Minister (SAPM) on Petroleum, Nadeem Babar accompanied by Secretary Petroleum, Mian Asad Hayaud Din…
Aftab Ahmed Islamabad: The Oil marketing companies (OMCs) pocket billions from the consumers by keeping petroleum products at custom bonded stores. They are bound to store the POL products at POL storage. But they are not doing so, following expected revisions in oil prices and taxes. They store products following the expected rise in oil…
Aftab Ahmed Islamabad: LNG is a sweet business for LNG terminals operators, operators, power plants and even shipping companies when it comes to making money on account of capacity payments and demurrages. The consumers are on losing end. It was PSO at fault that it failed to offload the ship of RLNG that resulted in…
Aftab Ahmed The state-run oil marketing company Pakistan State Oil (PSO) stands at the top among other oil marketing companies (OMCs) with the highest inventory of petrol and high-speed diesel (HSD) to make gains in July following a hefty hike in prices of petroleum products. The PSO was holding an oil stock of 42097 metric…
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…