Saudi group to invest in retail Oil Sector in Pakistan
Saudi Group Asyad Holding through UAE-based Wafi Energy Holding Limited has acquired 77.42% shareholdings and control of Shell Pakistan Limited.
Adil Aziz
Government announce tax relief on import of solar
The government proposed tax relaxation on import of raw materials for solar panel and aquaculture industry in the country.
Mehfooz
SNGPL, SSGCL expand gas transmission network: Survey
Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) laid 156 km of gas transmission network, 3,614 km of mains, and 76 km of service lines, connecting 56 villages and towns to the gas network during July-March Financial Year 2023-24.
LONGi Green Energy to setup solar manufacturing plant in Pakistan
Minister for Power Division Sardar Awais Ahmed Khan Leghari invited the LONGi Green Energy Technology Co. Ltd. to set up solar PV manufacturing plant in Pakistan.
FPCCI’s demand to bring retail tax on final stage, cut in mark-up and power tariff
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) demanded of the government to reduce the interest rate to 12 percent. The electricity price should be reduced to 9 cents for all industries. Contracts with Independent Power Producers (IPPs) should be revisited. Cross subsidies of Rs 240 billion should be eliminated and tax on the retail sector should be taken at the final stage.
KCCI, SAI urge KE to fully restore electricity to Site industries
President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh and President Site Association of Industry (SAI) Mohammad Kamran Arbi, while expressing deep concerns over delays in restoration of electricity supply to industries in Site, stated that 07 days have passed so far since a fire incident occurred at Haroonabad Grid Station but K-Electric (KE) has failed to fully restore electricity supply to industries in site area, which has resulted in causing grave losses to industrialists.
Industry Ministry rebuts withdrawal of gas subsidy for fertilizer companies
The Ministry of Industry and Production issued a rebuttal on Saturday on the news circulating about the withdrawal of gas subsidy for fertilizer companies is baseless. according to the Ministry’s Spokesperson, this matter was never included in the cabinet’s agenda.
Suzuki Motor Corporation wants to set up a Biogas Plant in Karachi: Mr. Kenichi Ayukawa
Mr. Kenichi Ayukawa, Global Vice President, Suzuki Motor Corporation shared that Suzuki Motors Corporation wants to set up a biogas plant in Karachi. The renewable energy will be produced by using food waste and animal manure. The Federal Minister, Rana Tanvir Hussain assured the visiting delegation that government will provide necessary support and facilitation to Suzuki Motor Corporation in business operations and expansion in Pakistan.
Editor
CCP approves product supply agreement between Aramco, GO Petroleum
The Competition Commission of Pakistan (CCP) has granted a time-bound exemption on the relevant clauses of product supply agreement between Aramco Trading (ATC) Fujairah FZE Ltd and Gas and Oil Pakistan Ltd (GO Petroleum) for importing and selling gasoline and diesel products to Pakistan.
Govt drop down the prices of Petroleum products
The government announced a reduction in the price of petrol by Rs 15.39 and high speed diesel by Rs 7.88 per liter. The new price of Petrol is Rs 273.10 and the price of high speed diesel is Rs 274.08 per liter.