ISLAMABAD (March 12, 2010): Members of Parliamentary Committee on Constitutional Reforms have agreed to a joint share of Federation and Provinces in the natural resources ie, lands, minerals and other things of value within the continental shelf or underlying the ocean within the territorial waters of Pakistan, according to sources.

ISLAMABAD (March 12, 2010): World Bank will extend $250 million loan to gas companies to replace their obsolete transmission lines and distribution systems, official sources told Business Recorder. However, the Bank is not hopeful that the project would solve all the problems in the gas and power sectors that currently result in load shedding, uneven service quality, lack of service and often inefficient use of the various energy sources available to Pakistan, the sources added.

ISLAMABAD (March 12, 2010): Senate standing committee on commerce on Thursday directed commerce ministry to cancel the permission given for import of 0.05 million tons used lube oil immediately as its import is banned being hazardous for health. The committee, which met here with Ilyas Bilour in the chair, criticised the ministry for granting the permissions for import of hazardous 10 million tons used lube oil without completing laid down procedure for the import of banned item.

ISLAMABAD (March 12, 2010): The Forth International LPG conference and exhibition "LPG Exp Con 2010" will be held here in federal capital on March 25, 2010, at a local hotel. The event is being organised jointly by LPG Association of Pakistan (LPGAP), Publicity Channel and Energy Update. This conference is also being supported by Paris based World LP Gas Association, Ministry of Petroleum and Natural Resources and LPG distributors Association of Pakistan.

KARACHI (March 12, 2010): The Board of Directors of BOC Pakistan Limited, a member of The Linde Group, on Thursday approved an investment of more than Rs 2 billion for the installation of a new state-of-the-art air separation plant and related supply chain equipment in Lahore.

LAHORE (March 12, 2010): Pakistan Water Front Convenor Shahzad Ali Malik has said the Kishenganga Hydroelectric Project (KHP) initiated by India poses a threat to the Neelum-Jhelum Hydro Project because India has planned to divert the River Jhelum water through Wullar Barrage. India has planned 86 projects at a cost of Indian Rs 240 billion on Pakistani rivers including Chenab, Jhelum and Indus.

KARACHI (March 12, 2010): Chief Executive of Iran-Pak Wind Power (Pvt) Limited Khurram Sayeed Wednesday called on Chief Minister Sindh Syed Qasim Ali Shah at Chief Minster House. During the meeting, he apprised the Chief Minster about project under joint venture with full loan from his firm.

ISLAMBAD (March 12, 2010): Prime Minister Syed Yousuf Raza Gilani has refused to give two years' extension to former Managing Director, Private Power Infrastructure Board (PPIB), Fayyaz Elahi, who claims of being very resourceful, well-informed sources told Business Recorder. The office of MD PPIB continues to be occupied by Fayyaz Elahi, despite the fact that his contract has expired almost a month ago.

ISLAMABAD (March 11, 2010): Despite the fact that power and oil sectors are in critical situation due to circular debt, the Finance Ministry has no immediate plan for fund releases or commitment to bail them out during the coming month of April, Business Recorder has learnt.

ISLAMABAD (March 11, 2010): FFC Energy Limited (FFCEL), on Wednesday finalised contracts of Engineering, Procurement and Construction (EPC) and Operation and Maintenance (O&M) with Nordex of Germany for development of 50 Megawatt Wind Power Project at Jhimpir, Sindh.