Day: February 10, 2020

Power policy proposes cost recovery at every stage

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ISLAMABAD: The government has finalised National Electricity Policy 2020 that seeks ‘balanced development’ of power generation, transmission and distribution through full cost recoveries at every stage and to gradually bring an end to use of all imported fuels. The draft policy that would pass through the next meeting of the Council of Common Interests for approval also envisages that “the agreed upon amounts owed by Provinces and/or their departments to the power sector, shall be automatically adjusted from the NFC award and departmental budgets”. Under the policy, the National Electric…

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FBR, ministries of communications and energy blamed for hindering exports

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LAHORE: The Ministry of Commerce (MoC) has blamed the Federal Board of Revenue (FBR), the Ministry of Communications (MoC) and the Ministry of Energy’s Power Division for hampering the country’s exports, sources told Profit on Sunday. The commerce ministry took up its reservations at a recent meeting headed by Prime Minister Imran Khan that reviewed the ministry’s performance regarding the country’s exports, sources added. The MoC officials during the meeting requested the premier to issue instructions to all the ministries and departments that no decision about the country’s exports should be taken without…

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When disaster yields dividend

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Investors started to dump shares as panic gripped the market, making the Shanghai Composite index close nearly eight per cent lower, its biggest one-day drop in more than four years. Losses spread to the US and European markets. The Pakistan stock market fell 2.4pc in the preceding week and the KSE-100 index suffered a steep drop of 1,222 points or nearly 3pc last Monday, representing the steepest single-day decline in 14 months. But the meltdown was largely on the inflation figure for January, which came out at an alarming 12-year…

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National Electricity Policy 2020: Govt to recover power dues owed by provinces from NFC Award

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ISLAMABAD: The government has planned to recover from the National Finance Commission (NFC) Award the outstanding amount owed by the provinces or their departments to the power sector. The full cost of service that also includes full general cost will also be passed on to consumers. The incumbent government will also reduce reliance on imported fuel for electric power generation and will move towards optimal utilisation of local resources such as coal, water, renewable sources, local gas and nuclear. This intention of the Power Division has been included in the…

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Pakistan Petroleum Limited found one of the largest ever gas reserves in history of Pakistan

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SLAMABAD – Pakistan Petroleum Limited found one of the largest ever gas reserves in history of Pakistan. Pakistan Petroleum Limited (PPL) has found huge gas reserves in Margand block at Kalat, Balochistan. According to details, PPL owns 100% of the drilling rights of the block and had been drilling at Margand X-1 block since 30 June 2019. PM Imran Khan chairs high level special meeting in Islamabad Last year, PPL carried out a Modular Dynamics Testing (MDT) at a depth of 4,500 meters at the block. MDT proved the presence of large gas reserves.…

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