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PSO

PSO resumes fuel supply to PIA after brief halt

KARACHI: The Pakistan State Oil (PSO) on Tuesday resumed supply of fuel to the Pakistan International Airlines (PIA) after a brief halt over non-payment of the outstanding dues.  The fuel supply resumed following successful talks between the PSO and the airline, according to a PIA spokesperson. Subsequently, the PIA resumed its flight operation as a number of flights departed from Karachi as per their schedule. Earlier, the PSO suspended fuel supply to the national flag carrier over its failure to ensure payment of…

CJP orders review of prices, taxes on POL products

KARACHI: Chief Justice of Pakistan (CJP) Saqib Nisar on Friday rebuked authorities for tormenting public with expensive petroleum products while ordering a review of the mechanism of determining POL prices and levying taxes. CJP took up the hearing of a suo moto case against the petroleum prices and imposition of additional taxes. In his orders of conducting a review of petroleum taxes and prices, Chief Justice Nisar warned of severe consequences if any irregularity is found in the review report. He also directed to…

PSO, Pakistan Railways sign fuel supply agreement

ISLAMABAD: Pakistan State Oil (PSO) and Pakistan Railways on Wednesday signed Fuel Supply Agreement under which PSO will meet Railways’ all fuel requirements. The agreement was signed by General Manager Lubricants & Chemicals PSO Qasim Zaheer and Chief Controller of Purchase Pakistan Railways in Islamabad on Tuesday. Minister Railways Khawaja Saad Rafique, Minister of Petroleum and Natural Resources Shahid Khaqan Abbasi, Secretary Petroleum & Natural Resources Sikander Sultan Raja, Managing Director PSO Sheikh…

Karachi-Lahore LNG Pipeline to be inaugurated in January

KARACHI: Karachi to Lahore Liquefied Natural Gas (LNG) Pipeline project is expected to be inaugurated in January. Prime Minister Nawaz Sharif will likely to inaugurate the pipeline in first week of January next year. Out of a total of 1,300 kilometres long pipeline, 350 kilometres being laid by Sui Southern Gas Company Limited (SSGCL) and 950 kilometres pipeline by Sui Northern Gas Pipeline Limited (SNGPL), Petroleum Ministry sources said . Almost 90 per cent construction work of the project has been completed and…

Circular debt in energy sector crosses Rs. 300 bln

ISLAMABAD: The volume of circular debt in the energy sector has crossed Rs. 300 billion, ARY News reported on Wednesday. According to government statistics, the circular debt in the energy sector has reached to Rs. 328 billion. International Monetary Fund (IMF) had advised Pakistan economic managers to end the circular debt on energy sector, reduce the subsidy provided to consumers of electricity and privatize the state entities. The circular debt of the energy sector is also piling in the newly emerged sub-sector…

Fed to write off Rs. 50 bln circular debt of Sindh

ISLAMABAD: Federal government has decided to write off Rs. 50 billion from the circular debt outstanding against Sindh Government, ARY News reported on Saturday. Around 128 billion rupees have been outstanding against Sindh with respect to the unpaid power bills by a number of the provincial government departments. The federal government has made deduction in the payable electricity bills against Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Supply Company (SEPCO). The government of Sindh will pay Rs.…