Month: June 2020

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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With revenues tumbling in the wake of Covid-19 outbreak, the government has decided to get rid of unutilised and dead assets of state-run oil and gas companies to boost state income. Sources told The Express Tribune that the government had formed a think tank, headed by Special Assistant to Prime Minister on Petroleum Nadeem Babar, to identify and highlight the impact of Covid-19 on the exploration and production (E&P) sector and suggest recommendations to dispose of the unutilised and dead assets. In a letter dated May 14, 2020, the Prime…

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ISLAMABAD: Prime Minister Imran Khan on Thursday directed Special Assistant on Petroleum Nadeem Babar to further accelerate the process of reforms in the petroleum sector. Babar was appointed on Wednesday last by Economic Coordination Committee (ECC) as head of a body that would explore various call options for hedging prices of petroleum products imported by Pakistan. As per the details, the body would explore call option for 15 million barrels of oil for one or two years divided into 12 equal monthly amounts for different stock price above current Brent, as…

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