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Ministry of Petroleum and Natural Resources has advised the independent regulatory authority (Ogra) to cancel the licenses of 400 CNG filling stations while Ogra has declined to act upon the advice immediately, reliable sources told TheNation on Thursday.
The sources further said that Ministry of Petroleum and Natural Resources has advised the Oil and Gas Regulatory Authority (Ogra) to immediately revoke the licenses of 400 CNG stations on the charge of selling the commodity above the sanctioned load. CNG filling stations cannot sale the commodity above the sanctioned load as it is mentioned in their agreement with gas utilities.
On the other hand, Ogra has declined to follow the advice in present context ostensibly viewing miseries of consumers and adopted a principle stand that under Ogra rules and procedures cancellation of license on immediate grounds cant’ be done.
The Securities and Exchange Commission of Pakistan (SECP) has sought public opinion on the draft Issue of Commercial Papers Regulations, 2013, which are aimed at promoting corporate debt market and to facilitate corporate to raise fund from capital market through the issue of Commercial Papers (CPs).
CP is a short-term debt instrument normally issued by h..... Read more
No official has been held responsible for the country-wide power break down late night on February 24 as an inquiry committee constituted on directive of Prime Minister believes “darkness prevailed that night due to technical fault in national grid”.
The four-member enquiry committee constituted to probe into causes of rare prolonged countr..... Read more
Oil was up in Asia Monday on trader expectations of a hike in Chinese crude demand after a key survey showed its manufacturing activity hitting a 14-month high in December, analysts said.
New York's main contract, light sweet crude for delivery in January rose 23 cents to $86.98 a barrel and Brent North Sea crude for February delivery advanced ..... Read more
