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Fuel and Energy: Pakistan


The government will determine floor price of the planned off-load of 7.5 percent government''s shares in Oil and Gas Development Company (OGDCL) on November 5, 2014. This was stated by State Minister for the Privatisation Commission (PC) Mohammad Zubair at a press conference here on Thursday. Mohammad Rafi Managing Director (MD) OGDCL was also present.

Opposition Senators on Thursday staged a protest sit-in in front of Parliament House against privatisation of Oil and Gas Development Corporation Ltd (OGDCL). The opposition Senators walked out of the house, flaying the government for privatising OGDCL soon after house proceedings started. They also hit out at government for arresting the OGDCL employees.
The country''s two renowned audit firms have reportedly confirmed the charge levelled by electricity consumers that power Distribution Companies (Discos) overbilled consumers to the tune of billions of rupees in July 2014 by reducing tariff slabs and debt adjustment of units consumed in prior months, sources close to Managing Director National Transmission and Dispatch Company (NTDC) told Business Recorder from Lahore.
In an event organized by USAID, 24 engineers were presented with certificates in recognition of their successful completion of a two-week training seminar on power plant management here on Thursday. The engineers were drawn from the Tarbela, Ghazi Barotha, Mangla, Warsak, Chashma, Renala Khurd Power Plants, and WAPDA. The group included female engineers from Islamabad-based engineering universities as well.
The Economic Co-ordination Committee (ECC) of the Cabinet has decided to impose a 5 percent GST on LNG import and exempt it from Gas Infrastructure Development Cess (GIDC). The ECC meeting chaired by Finance Minister Ishaq Dar on Wednesday considered the proposal of Ministry of Petroleum and Natural Resources on exempting LNG import from GIDC and GST. The ECC accorded exemption from GIDC as it was not applicable on imports as recommended by the committee under the convenor ship of secretary Finance with secretary P&NR and chairman FBR as members.
The government is likely to reduce prices of the petroleum products significantly due to the global reduction in fuel prices, Petroleum Ministry officials said. A decrease of up to Rs 14 per litre is likely to come into effect from November 1; which will allow consumers to enjoy the lowest fuel prices since the four years. In October, the government had slashed the prices by 2.8 percent after oil prices dipped in the international market.
Executing on growing the presence of renewable energy around the world, GE recently announced that it will supply equipment and procurement contractor HydroChina and wind farm customer Sapphire with 33 GE 1.5-82.5 wind turbines for the Sapphire Wind Power farm in Sindh. GE will also provide 10 years of operations and maintenance services as part of the contract.


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln