News Update
February 20, 2007The federal government has given one week deadline to the cement manufacturers to bring down ‘unjustified’ cement prices substantially or face action including a ban on export. If the cement manufacturers do not bring down prices substantially before the next ECC meeting, the government will be compelled to take action.This includes a ban on export, withdrawal of subsidy or resumption of subsidy on import, said Minister for Industries and Production Jahangir Tareen… Aaj News
Pakistan’s largest oil marketing firm, Pakistan State Oil (PSO), has cut expansion plans ahead of its planned privatisation in June…"Since we are in the privatisation mode, we have decided not to go for any long-term commitments and investments," Jalees Ahmad Siddiqui, managing director of PSO, told Reuters…. Aaj News
The government will offer 17 onshore blocks for oil and gas exploration for bidding this month,..Sher Mohammad Khan, director for exploration and concessions at the Ministry of Petroleum and Natural Resources, said the blocks to be offered are in four zones…."We plan an open bidding and local and well as international firms will be allowed to participate,"…Khan said the government will also sell one offshore bock in the Indus Basin, off southern Sindh province.The bidding for Indus Basin block will be held on February 27th… Aaj News
