KARACHI/ISLAMABAD: After collecting all agreed-upon payments from the Central Power Purchasing Agency (CPPA), Rousch Pakistan Power Ltd (RPRL), an independent power producer (IPP), turned over its complex to the authorized government body.
In a public statement on Monday, RPPL’s parent company, Altern Energy Ltd (AEL), stated that the subsidiary has ended its Power Purchase Agreement (PPA) with the CPPA in accordance with the terms of its Negotiated Settlement Agreement (NSA).
According to the notice, RPPL turned over the complex to National Power Parks Management Company Ltd. on December 31, 2024, after receiving all of the agreed-upon sums from CPPA in accordance with the NSA.
In November 2024, RPPL authorized its management to sign a negotiated settlement deal and authorized the early termination of its long-term contracts with the government.
OGDCL production increases
On Monday, Oil and Gas Development Company Ltd. (OGDCL) declared that the Pasakhi-7 well in District Hyderabad, Sindh, would increase its oil production by 145 barrels per day.
In a notice to the Pakistan Stock Exchange, the business stated that the well is a component of the Pasakhi Development and Production Lease (D&PL), in which OGDCL has a 100 percent working interest.
As part of its optimization efforts, OGDCL sent out a rig to replace the tubing and re-complete the well utilizing an artificial lift system (Jet Pump). The business also unveiled Multi Physio Chemical Stimulation technology, which was used for the first time in the southern area. Production at Pasakhi Well-7 has increased from 375 to 520 bpd as a result of these actions.
The first-ever discovery in the Mari East Block, which is situated in the Rahim Yar Khan area of Punjab and in which OGDCL owns a 100 percent working interest, is Chak 212-1, an exploration well, according to another development.
Engro Fertilizer is currently receiving the two mmscfd gas from Chak 212-1 after a 4″-14.5 km flow line was installed from the well site to the Maru-1 facility.
Purchasing a brokerage house
After a thorough competition analysis, the Competition Commission of Pakistan (CCP) has authorized Optimus Capital Management (Pvt) Ltd (OCMPL) to purchase a 95.59 percent stake in Alfalah Securities (Pvt) Ltd (ASPL) through a Share Purchase Agreement.
Brokerage services, which include services offered by equities brokers for carrying out trading orders and associated tasks, were determined by the CCP to be the pertinent product market. According to the evaluation, ASPL’s relatively small market share guarantees that OCMPL won’t gain a dominating position in the market as a result of the purchase.
With regulatory oversight from the Pakistan Stock Exchange and the Securities and Exchange Commission of Pakistan, the equity brokerage services sector is still accessible and varied.