The resumption of supplies from Sefe is crucial for GAIL, which reported an almost 93% slump in its December quarter profit due to lower gas sales triggered by supply disruptions.
The first price hike since April 2019 will also up the cost of generating electricity but it may not reflect in consumer bills as the share of power produced from gas is very low.
Pakistan will have a majority share of 51% to 74% in the project, while Russia will own the remainder, said PM Imran Khan's petroleum adviser Nadeem Babar.
Following the transaction which is expected to be completed by November, Dassault Reliance Aerospace Ltd will become an associate company, with Reliance retaining a 49% stake.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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