The state-run Oil and Gas Development Company Ltd (OGDCL) on Monday announced to have discovered tight gas at its exploratory Well Nur West-01, situated in the Sujawal district of Sindh. OGDCL is the sole operator with a 100pc stake in Nur Development & Production Lease. A company statement said the structure of Nur West-01 was drilled and tested using OGDCL’s in-house expertise to a depth o
As exporters sought a 15-day extension, Commerce Minister Jam Kamal Khan said on Monday that the ban on onion exports was only for Ramazan till April 15, and no extension was under consideration. The minister stated this while talking to media persons after a meeting with the office-bearers of the Pakistan Business Council (PBC). As the export ban has failed to provide any price relief, expo
The Engineering Development Board (EDB) has issued 34 licences to manufacturers of two- and three-wheelers under the Electric Vehicles Policy for 2020-2025, as part of the transition from traditional fuel-powered automobiles to EVs. At the same time, private partners are jumping into EV manufacturing, said Asim Ayaz, a senior EDB official, in a speech during a webinar at the Sustainable Develop
The quantum of remittances increased to almost $3 billion in March, taking it to the highest level since April 2022, primarily due to Ramazan, according to the central bank’s data. The total remittances in March stood at $2.95bn compared to $2.25bn in Feb, a month-on-month increase of 31.2pc. The year-on-year increase was 16.4pc, compared to the inflows of $2.54bn in March 2023. This is the
Consumers will pay Rs4.92 per unit extra next month for electricity consumed in February, after the power regulator approved the hike as additional fuel cost adjustment (FCA). The National Electric Power Regulatory Authority (Nepra) notified the increase on Monday. It will impact consumers of all ex-Wapda distribution companies (Discos), generating a net financial impact of about Rs45bn. T