Oil refinery to be worth $750m: PSO MD
Pakistan State Oil (PSO) will set up a $750 million oil refinery in Khyber Pakhtunkhwa (KP) with the capacity of 40,000 barrels per day production (bpd) by 2017, Managing Director Naeem Yahya Mir told Daily Times on Tuesday. He said the refinery will be established in collaboration with the KP government and private sector’s investment comprising 30 to 35 percent share. more... (DT)
PSO hits out at cartels for creating hurdles
Pakistan State Oil (PSO) Managing Director Naeem Yahya Mir has hit out at cartels, saying they are sucking blood and creating hurdles in the way of new projects to make PSO a global energy company. more... (ET)
Energy crisis responsible for low economic growth
Critical situation in Pakistan’s energy sector has become a primary constraint on the country’s economic development.
At a seminar on Pakistan Energy Sector: From Crisis to Crisis-Breaking the Chain orgainsed by Pakistan Institute of Development Economics (PIDE) Ziad Alahdad visiting senior Fellow PIDE and formerly Director of Operations World Bank said the recent D8 Summit validated the importance of the energy sector by concluding energy security be accorded the highest priority. more... (DT)
Containing fiscal deficit: provincial surpluses, CSF key factors
The government was able to contain fiscal deficit at 1.2 percent of GDP for July-September this year largely because of Rs 85 billion provincial budget surpluses and $1.18 billion reimbursed by the US on account of the Coalition Support Fund (CSF).
Businesses for efforts to boost trade among D-8 states
In a bid to follow the roadmap set forth in the recent Developing Eight (D-8) summit, joint efforts should be made by all member states to boost trade among themselves to meet the ambitious target of $500 billion by 2018, suggests the president of Faisalabad Chamber of Commerce and Industry. more... (ET)
Oil and gas sector: Pakistan welcomes Nigerian interest
Pakistan welcomed the interest expressed by Nigeria to enter into dialogue regarding possible cooperation in the oil and gas sector. While meeting the Ambassador of Nigeria to Pakistan Dauda Danladi, Adviser to the Prime Minister on Petroleum and Natural Resources Dr Asim Hussain said that Pakistan had provided friendly business climate to foreign investors in the oil and gas sector under the Petroleum Policy, 2012. more... (ET)