ISLAMABAD: Domestic gas shortage has reached 1.6 billion cubic feet (BCF) per day mark, resulting in closure of thousands of industrial units across the country, a senior official of Petroleum Ministry revealed. The official said

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KARACHI: The country's crude oil production would be enhanced by 25 percent to 100,000 barrels per day by the end of March 2013 in order to meet domestic energy needs, said Dr Asim Hussain, Advisor

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JHAMPIR: President Asif Ali Zardari on Monday inaugurated the country's first ever 50MW wind power project terming it an important milestone and landmark achievement in country's efforts towards finding environmental-friendly, indigenous and low cost energy

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ISLAMABAD: The special committee to determine a viable and acceptable formula on Compressed Natural Gas (CNG) prices Monday failed to reach consensus due to absence of petroleum ministry representatives. The committee meeting held with an

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KARACHI: Domestic debt servicing has reached some 60 percent of total tax revenue in the first quarter of current fiscal year 2012-13 (FY13) is mainly due to rising and costly government borrowings. Sources in the

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ISLAMABAD: Section 153A of the Income Tax Ordinance, 2001 whereby every manufacturer has to collect withholding tax at the time of sale to all distributors, dealers and wholesalers, has been suspended by the Federal Board

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ISLAMABAD: Prime Minister Raja Pervez Ashraf has reportedly directed the ministries of finance, water and power and petroleum to ensure optimum thermal power generation during canal closures to meet domestic electricity demand. Sources said that

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ISLAMABAD: The domestic power sector is learnt to have consumed the entire budgetary allocation of Rs 170 billion as subsidy for 2012-13 during the first five months of the current fiscal year. The total allocation

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ISLAMABAD: Grave financial and operational challenges facing the power sector are acting as a deterrent to investors in power sector entities, well-placed sources in the Privatisation Commission told Business Recorder. The present condition of the

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ISLAMABAD: Pakistan on Thursday reiterated its resolve that India would be given the Most-Favoured Nation (MFN) status after completing the internal review process; however, the review will take time. Foreign Office spokesperson Moazzam Ahmad Khan,

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