K-Electric seeks stakeholders meeting to explain power generation

KARACHI: K-Electric, the power supply and generation utility, has requested Sindh governor for a meeting of stakeholders to discuss matters pertaining to power generation. The power utility is under serious criticism for... Read more »

Shanghai Electric submits fresh intention to acquire 66.4pc K-Electric shares

KARACHI: K-Electric on Tuesday said that it has received fresh Public Announcement of Intention (PAI) from Shanghai Electric Power (SEP) Company Limited (SEP) to acquire up to 66.40 percent voting shares of... Read more »

KCCI urges K-Electric to stop load shedding

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has expressed serious concerns of electricity shortfall which caused massive losses to trade and industry. Agha Shahab Ahmed Khan, President KCCI urged the K-Electric... Read more »

Petroleum prices increased up to 66 percent; Petrol enhanced to Rs100.10/liter

ISLAMABAD: The federal government has increase prices of petroleum products (POL) up to 66 percent effective from June 26, 2020. According to new prices issued by the ministry of finance the maximum... Read more »

FIRs lodged against two OMCs for black marketing

ISLAMABAD: Authorities on Tuesday initiated legal action against Oil Marketing Companies (OMCs) for indulgence in hoarding of petroleum products (POL) and creating artificial shortage. At least two FIRs have been lodged against... Read more »

OMCs must have 21 days stock of POL products, federal cabinet decides

ISLAMABAD: Authorities to enforce license condition that Oil Marketing Companies (OMCs) must have 21 days stock in order to ensure availability of petroleum products. Prime Minister Imran khan chaired the meeting of... Read more »

Petroleum division recommends termination of dealers license on failure to maintain stock

ISLAMABAD: Petroleum Division has recommended termination of dealers licenses for failure to ensure sufficient stock for their respective Oil Marketing Companies (OMCs). The petroleum division is cognizant of the artificial shortage of... Read more »

ECC forms body for hedging prices of imported petroleum products

ISLAMABAD: The government on Wednesday constituted a committee for hedging prices of imported petroleum products. The formation of the committee was approved by Economic Coordination Committee (ECC) of the Cabinet, chaired by... Read more »

Govt. slashes petroleum prices up to 25 percent

ISLAMABAD: The government has reduced up to 25 percent the consumer prices of petroleum products for the month of June 2020. A statement on Sunday said that price up to 25 percent... Read more »

Reduction in corporate rate for E&P companies recommended

KARACHI: Federal Board of Revenue (FBR) has been recommended to reduce the income tax rate for exploration and production (E&P) companies especially in wake of massive reduction in international oil prices. Overseas... Read more »