The two state-owned entities — Oil and Gas Development Company Limited (OGDCL) and Mari Energies Ltd (MEL) — on Thursday announced separate hydrocarbon finds in Sindh and Khyber Pakhtunkhwa, respectively. In a statement, OGDCL announced the successful revival of oil and gas production from Chak # 2-2 Well, a joint venture in the Sinjhoro Block in the Sanghar district of Sindh. The Sinjhoro B
Businessmen have welcomed Prime Minister Shehbaz Sharif’s decision to reduce the power tariff, saying that it will “release financial pressure on consumers struggling with their electricity bills”. M. Abdul Aleem, Secretary General of the Overseas Investors Chamber of Commerce and Industry (OICCI), said “this is a good move despite rigid IMF conditionalities and limited fiscal space available t
Prime Minister Shehbaz Sharif on Thursday announced a reduction of about 12 to 17 per cent in electricity rates for various consumer categories through a combination of quarterly adjustments, savings secured from independent and state-owned power producers and diversion of petroleum and grid levies on oil and gas products. Speaking at an event especially organised to announce the tariff cut, th
The profits of the companies listed on the Pakistan Stock Exchange (PSX) fell one per cent to Rs1.62 trillion in 2024 from Rs1.64tr in 2023, according to a research report by Topline Securities Ltd. In US dollar terms, the profitability stood at $5.8bn, down 1pc year-on-year in 2024. However, excluding the exploration and production (E&P) sector, the profitability of KSE 100 companies improved
YOU can tell when a government in Pakistan has lost the plot when they turn to the bureaucrats for ideas on how to make change happen. There are usually many other markers for this loss of the plot, but once the bureaucrats are in charge of generating the ideas which inform the government’s agenda for change, you can say pretty clearly that the gig is up and they have gone into treading water m