Articles for tag: Energy, enterprises, ongoing, Ongoing reforms in the energy sector, reforms, sector, state enterprises, stateowned

July 11, 2024

Islamabad: Finance and Revenue Minister Muhammad Aurangzeb on Wednesday highlighted the reforms carried out in Pakistan’s energy sector and state-owned enterprises (SOEs), including the privatization of state-owned companies. In a meeting with a delegation of Standard & Poor’s (S&P) Global Ratings at the Finance Department, the minister underlined the confidence shown by multilateral institutions by providing financing for various projects in Pakistan. The S&P delegation was led by Sovereign and International Public Finance Ratings directors Yee Farn Phua and Andrew David Wood. Aurangzeb gave an update on Pakistan’s current economic situation, where he described the successful completion of a nine-month

June 7, 2024

News Desk

Business

President removes bar on dismissal of DISCO boards

Islamabad: Hours before parliamentary sessions began, President Asif Ali Zardari issued a decree to remove a legal hurdle preventing the government from sacking the boards of all loss-making electricity distribution companies (DISCOs). President Zardari issued the Governance and Operations of State Enterprises Amendment Ordinance 2024 with effect from 5 June 2024. The Ordinance was issued just a day before the scheduled sessions of the National Assembly and Senate, indicating the government’s preference to use ad hoc meters. tabling a bill in Parliament to amend the law. The lifetime of an ordinance is up to eight months, including a four-month extension

May 4, 2024

News Desk

Business

The government is reluctant to privatize key state-owned enterprises

Islamabad: As Pakistan’s wealthiest families express interest in acquiring the struggling national carrier, Prime Minister Shehbaz Sharif’s government remains reluctant to sell at least 75 percent of the state-owned commercial entities. The government aims to maintain control over key sectors such as insurance, finance, road transport, logistics and oil and gas production. Except for Pakistan International Airlines (PIA) and electricity distribution companies, almost all commercial enterprises are exempted from privatization. This decision follows internal resistance to the government’s privatization efforts. Of the 87 eligible commercial entities, only 21 have been proposed for active privatisation, sources in the Privatization ministry told

February 14, 2024

News Desk

Business

JJVL calls for deregulation of LPG Policy

The chief minister directed the Directorate of Petroleum to draw up a plan to restart production at the JJVL plant to ease the gas shortage in winter. Photo: Archive Islamabad: Jamshoro Joint Venture Limited (JJVL) has proposed to deregulate the base price of local LPG or imported LPG in the new proposed LPG Policy, allowing market forces to determine pricing. The government is currently formulating this policy to boost local LPG production. JJVL argues that producers and importers have the autonomy to set prices based on market conditions, fostering fair competition, which previous LPG policies failed to achieve. JJVL chairman

Ongoing reforms in the energy sector, state-owned enterprises

President removes bar on dismissal of DISCO boards

The government is reluctant to privatize key state-owned enterprises

JJVL calls for deregulation of LPG Policy

Asif Khaliq drives blue-eyed Chaiwala Arshad Khan’s London success

Munir and Naqvi Join Makkah Pact Talks in Tehran

Iran Says the Border Is Open as Pakistan Ships LPG by Sea