Karachi, May 18, 2012 (PPI-OT): Early completion of CASA-1000 Project: Pakistan signs protocol
A meeting of the Inter-Governmental Council (IGC) for CASA-1000 Project was held at Dubai on May 16-17.
According to MR Securities, it was attended by the Ministers of Energy of four member countries – Afghanistan, Kyrgyzstan, Pakistan and Tajikistan, says a news release received here Thursday from Dubai.
Money-laundering charges: NAB initiates probe against Sharifs
The National Accountability Bureau (NAB) has initiated investigation into allegations levelled by Interior Minister Rehman Malik against Pakistan Muslim League-Nawaz (PML-N) leadership regarding $32m money laundering.
Power outages to continue for next two years
With warnings of energy crisis persisting for the next two years despite floating term finance certificates (TFCs) worth Rs82 billion to eliminate the circular debt, the water and power ministry has asked people to brace for further massive hikes in power tariff in the next couple of months.
Minister worried over BoP position
Finance Minister Dr Abdul Hafeez Sheikh on Thursday underscored the need for a cautious approach towards balance of payment (BoP) position due to rising oil prices in the international market. Briefing the National Assembly Standing Committee on Finance here on Thursday.
Hike in power tariff criticised
Another massive increase of Rs 1.25 per unit in electricity tariff is not only anti-industry but also anti-masses step, which is bound to give a big blow to the catastrophe-hit industrial sector.
Sindh unwilling to finance UCG project at Thar
Despite the request of Dr Samar Mubarakmand, Sindh Government is reluctant to fund the third and final phase of Underground Coal Gasification (UCG) project at Thar,Business Recorder has learnt here on Thursday.
Indian cabinet clears Turkmenistan gas deal
The Indian government has approved a deal to buy natural gas from Turkmenistan via a $7.6 billion pipeline passing through Afghanistan and Pakistan, reports said on Thursday.
Power generation: Prime Minister asks provinces to take steps
Prime Minister Yousuf Raza Gilani has asked the provinces to take measures towards electricity generation. He said all the resources would be mobilised to solve the problem of loadshedding.
Dr Asim chairs meeting on Draft Low BTU Gas Pricing Policy 2012
Minister for Petroleum and Natural Resources Dr Asim Hussain chaired a meeting on Draft Low BTU Gas Pricing Policy 2012, here in Islamabad on Thursday.
PPL to participate in MND Limited’s bidding
Pakistan Petroleum Limited (PPL) would participate in the bidding for corporate acquisition of MND Exploration and Production Limited.
Gas distribution companies remain under pressure of UFG losses
The gas distribution companies (GDCs) remained under pressure of Unaccounted for Gas (UFG) losses as these losses increased by 10.3% on year-on-year basis to Rs 9.7 billion during the first nine months of FY12, analysts said.
Irregular appointments in OGDCL: National Assembly panel calls for details within a week
A parliamentary panel probing irregularities in Oil and Gas Development Company (OGDCL) Limited directed the authorities concerned to present details within one week of irregular appointments in the company since 1995.
Circular debt reaches Rs 740.65 billion mark
Circular debt has reached Rs 740.65 billion mark and the issue of loadshedding would continue to persist till the completion of mega hydel projects, Ministry of Water and Power told the Special Committee on Energy Crisis of the National Assembly on Thursday.
Railways likely to get Rs20bn in upcoming budget
The cash-starved Pakistan Railways is likely to receive Rs20 billion development funds in the upcoming federal budget 2012/13 against the total funding requirement of Rs327.945 billion to complete all 31 development schemes
Forex reserves down by $312m to $16.1 billion
Pakistan’s liquid foreign exchange reserves have declined by $312 million during the week ended May 11 due to repayment against foreign debts, the State Bank of Pakistan (SBP) spokesman said on Thursday.
Pakistan, India working to set up business council
Secretary Commerce Zafar Mahmud has said that Pakistan and India are working together to constitute Pak-India Joint Business Council with a view to enhance trade cooperation between the countries.
USC to seek Rs2.5bn Ramazan package
The Utility Stores Corporation (USC) of Pakistan is going to ask the government for a Rs2.5 billion Ramazan package and will soon hire consultant for streamlining the process and procedures for the “computerisation of its expanded network” to check shortfalls and possible embezzlement and will open mega stores in urban centres to generate more revenues.
SECP, Jordan Securities Commission sign deal
The Securities and Exchange Commission of Pakistan (SECP) and the Jordan Securities Commission (JSC) have signed an memorandum of understanding on Thursday.