Privatisation of Nandipur Power, NPPMCL at advanced stage
Business
May 7, 2021
ISLAMABAD: Privatization process of 425 megawatts Nandipur Power Plant and National Power Parks Management Company (NPPMCL) has reached an advance stage, a minister said on Thursday.
Minister for Privatisation Mohammedmian Soomro told an inter-ministerial meeting the privatisation of Nandipur Power Plant and NPPMCL is at advance stage.
“We are taking all necessary steps for facilitating the national and international investors for successful privatisation of NPPMCL, Nandipur, Guddu and other energy sector entities,” Soomro said.
The meeting discussed issues regarding privatisation of energy sector entities. Divestment of shares of Pakistan Petroleum Limited and Mari Petroleum Company Limited were also discussed. All technical, legal and other issues relating to the energy sector entities will be resolved with the corporation of all stakeholders expeditiously. All participants /parties also agre
KSE-100: Stocks extends winning streak; index up 231 points
May 7, 2021
Bullish momentum continued to rule the market sentiments at Pakistan Stock Exchange (PSX) as stock extended its winning streak into the third day owing to positive news-flow over resolution of long term IPP issue and government’s decision to renegotiate tariffs and tax issue with the IMF, lifted market sentiments.
On Thursday, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,245.37 level after gaining over 301.76 points. However, the index clocked at 45,174.67 level by the closing bell after posting a 231 points gain.
During the session, investor sentiments were primarily buoyed by the news regarding the resolution of the long-awaited IPPs issue following the Economic Coordination Committee’s decision to pay the first tranche of outstanding dues of one set of IPPs, and further delay the payments of unpaid bills of another is discriminatory given that the government has sign
LPG sector seeks probe into imports
Calls for setting up commission to investigate windfall gains made by importers
The local industry suggested two options to resolve the price disparity and provide a level playing field. PHOTO: FILE
ISLAMABAD:
The local liquefied petroleum gas (LPG) industry has called for formation of an inquiry commission to probe the windfall gains reaped by LPG importers, which have caused losses worth billions of rupees to the local industry and the national exchequer due to disparity in taxes.
The industry has also urged the prime minister to take notice of the situation and form a commission, like in the case of oil crisis, to investigate the gains made by the LPG importers.
6 May 2021 9:01 GMT Updated 6 May 2021 9:01 GMT in Singapore
State-owned Pakistan Petroleum (PPL) has started commercial production from its Benari gas field in the Shah Bandar block onshore Pakistan.
Production from the field is being processed at Mari Petroleum Company’s Sujawal gas processing facility from where it is introduced into Sui Southern Gas Company pipeline network. Utilising the Sujawal plant has enabled the early commercialisation of Benari’s gas.
Expected output from the onshore field is 9 million cubic feet per day of gas.
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KSE-100: Stocks extend gains; index up 380 points
May 6, 2021
Stocks extended gains at Pakistan Stock Exchange (PSX) for the second consecutive day, as positive news-flow over possible resolution of long term IPP issue and government’s decision to renegotiate tariffs and tax issue with the IMF, lifted market sentiments.
On Wednesday, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,173.61 level after gaining over 610.02 points. However, the index clocked at 44,943.61 level by the closing bell after posting a 380 points gain.
During the session, investor sentiments were primarily buoyed by the news regarding the resolution of the long-awaited IPPs issue as the Economic Coordination Committee was set to take up a matter pertaining to 40% dues to IPPs.