Day: June 5, 2020

ISLAMABAD: The Petroleum Division is cognizant of the “artificial” shortage of POL products that is being created in the country by “opportunist” OMCs and petrol dealers, the spokesperson said and added that the Petroleum Division emphatically states that there is sufficient quantity of petrol stocks in the country. “Additional production by refineries as well as planned imports is on schedule to meet the monthly needs. It is unfortunate that some OMCs and/or their dealers have resorted to such methods for profit maximization that are having an adverse impact on the…

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With fiscal deficit estimated at around 9 per cent of gross domestic product (GDP) next year, the govern-ment is struggling to put the IMF programme back on track as the Fund expects a tight freeze on all non-debt servicing expenditures through the next federal budget. Sources told Dawn that the IMF had sought to contain pri-mazy deficit to -0.4pc of GDP while authorities were still fight-ing for its target to be set at -1.2pc of GDP. How the two sides bridge the gap would become clear after the economic team…

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Amid alleged boycott by Balochistan changed the economic landscape. Chief Minister Jam Mir Kamal Khan Alyani, the Annual The meeting was informed that before the pandemic, Plan Coordination Committee (APCC) on Thursday final- exchange rate stability and overall fiscal performance ised total development outlay of about Rs1.41 trillion to was satisfactory barring tax revenues, reserves were achieve an economic growth rate of about 2.3 per cent building-up, current account deficit was reduced mas-next fiscal year (2020-21). sively and inflation after peaking in January started The APCC meeting, presided over by…

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KARACHI: National Electric Power Regulatory Authority (NEPRA) has approved a tariff at Rs15.8463/kWh for Gul Ahmed Energy’s 136.17MW furnace oil-based power plant, for an extended three-year period effective November 2019. “The approved tariff shall he applicable for a term of three years or till the time CPPA/NTDC are willing and capable of supplying equivalent additional power to K-Electric, whichever comes earlier,” NEPRA noted in its determination. Gul Ahmed Energy Limited filed a tariff petition with the NEPRA to determine tariff for the proposed extension of the Power Purchase Agreement (PPA)…

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ISLAMABAD:  The Cabinet Committee on Energy (CCOE) on Thursday approved the petroleum division’s proposals for making imports of diesel and petrol compliant with Euro-V standard and tasked Ogra and the OCAD to work together to thrash out a detailed mechanism in this regard. A CCOE meeting, chaired by Planning Minister Asad Umar, also approved the minimum efficiency benchmarks for captive power plants and directed that the effects of Covid-19 situation might also be taken into account while setting deadlines for modernisation and upgradation of the units. The meeting was attended…

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