Category: Energy
You can go through stories related to energy. The stories are about changes in petroleum prices and updates on energy sector of Pakistan and world.
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New government keeps petroleum prices unchanged
ISLAMABAD: The new government – formed by leading political parties – on Friday decided to keep the prices of petroleum products unchanged for next fortnight. The previous PTI government had decided to freeze the price of petrol at Rs150 per liter till June 30, 2022. Prime Minister Muhammad Shehbaz Sharif has rejected the Oil and…
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Meezan Bank leads Rs1 bn finance for solar project
KARACHI: Meezan Bank, Pakistan’s leading Islamic bank and Burj Solar Energy Private Limited (BSEPL) are pleased to announce the financial close of Rs1 billion syndicated Islamic finance facility for BSEPL’s portfolio of renewable distributed power generation in Pakistan. The first tranche of PKR 580 million will be used to finance the construction of 7 MW…
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Meezan Bank, SNGPL sign deal for digital bill collection
KARACHI: Meezan Bank has recently signed an agreement with Sui Northern Gas Pipelines Limited (SNGPL) to enable digitalization of consumer bill collection via the Bank’s state-of-the-art Transaction Banking Solution (eBiz+). READ MORE: Meezan Bank provides bill discounting facility for Huawei The agreement was signed by Irfan Siddiqui – Founding President & CEO, Meezan Bank and…
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Lucky Cement installs 34MW solar power project
KARACHI: Lucky Cement Limited and Reon Energy on Thursday announced a 34 MW captive solar power project with a 5.589 MWh Reflex energy storage. •The project was announced in partnership with Reon Energy Pakistan’s leading Solar and Storage Solutions Specialist •The project is set to be installed at Lucky Cement’s Pezu plant in Khyber Pakhtunkhwa.…
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Domestic oil sales grow by 14% in 8MFY22
KARACHI: The domestic sales of petroleum products has increased by 14 per cent to 14.44 million tons during 8MFY22 – first eight months (July – February) 2021/2022. The total consumption during the same period of the last fiscal year was 12.67 million tons. READ MORE: Domestic oil sales surge by 18% in 5MFY22 Total Petroleum…
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Sales tax exempted on all petroleum products
ISLAMABAD: The government on Tuesday granted sales tax holiday on supply of all petroleum products to bring down the impact of high prices. In order to implement sales tax exemption on all the petroleum products, the Federal Board of Revenue (FBR) issued SRO 321(I)/2022. As per the SRO the sales tax has brought to zero…
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Pakistan cuts petroleum prices amid Russia-Ukraine War
ISLAMABAD: Pakistan on Monday decided to reduce the prices of petroleum products despite the high international oil prices in the wake of Russia-Ukraine war. The finance division issued the notification to cut the prices of petrol and diesel by Rs10 per liter each from March 01, 2022. READ MORE: Pakistan raises petrol price to record…
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PPL announces Rs31.14 billion half year profit
KARACHI: Pakistan Petroleum Limited (PPL) on Friday announced financial results for the half year ended December 31, 2021. The company announced Rs31.14 billion as net profit for the half year. The net profit of the company grew by over 19 per cent when compared with Rs26.11 billion in the same half of the last year.…
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Sindh High Court stops tax recovery against SSGC
KARACHI: Sindh High Court has suspended tax recovery notices issued against Sui Southern Gas Company Limited, according to a communication sent to the Pakistan Stock Exchange (PSX) on Friday. The gas utility clarified reports regarding action of the Large Taxpayers Office (LTO) Karachi for making recovery by attachment of bank accounts. READ MORE: FBR freezes…
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OGDCL declares over 63% net profit for 1HFY22
KARACHI: Oil and Gas Development Company Limited (OGDCL) on Wednesday announced financial results for the half year ended December 31, 2021. The company announced over 63 per cent growth in net profit to Rs69 billion for the first half (July – December) 2021/2022 as compared with Rs42.22 billion in the corresponding period of the last…
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