Day: December 8, 2020

Asia Free Trade Deal Widens Oil Supply Channels To China

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The Regional Comprehensive Economic Partnership that 15 Asian nations signed last month will place South Korea and Japan in a more favorable position as oil product suppliers to China, Bloomberg has reported, noting the pact will lead to a gradual reduction in import tariffs between signatories. Thanks to their proximity to the world’s largest importer of oil, Japan and South Korea are likely to gain market share at the expense of Singapore and Malaysia, which are further from China. China imported some $12 billion worth of oil products, including light-cycle…

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Five decades after Mangla and Tarbela, Pakistan will have two big dams: PM Imran

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Prime Minister Imran Khan on Tuesday said the country will soon have two new big dams, five decades after construction of Tarbela and Mangla dams. The premier posted a video of the under-construction Mohmand dam on his official Twitter account. The video showed the progress of construction and various side projects. “After Mangla & Tarbela, five decades later Pakistan is going to have two big water dams, Mohmand and Basha.” Mohmand Dam will generate 800 megawatts of hydroelectricity, irrigate over 16,000 acres of land and heavily contribute to the socio-economic uplift…

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The dispiriting sameness of change

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The government continues to struggle with ensuring a seamless supply chain for imported liquefied natural gas (LNG) for the third winter in a row. The Petroleum Division is again under fire this year for delaying LNG import orders resulting in higher prices. This caused a loss to the exchequer and made gas less affordable to consumers. While the peak winter season is still weeks away, complaints about gas shortages and low pressure have become widespread particularly in Punjab. But such grumblings have become almost a routine owing to continuously expanding…

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Pakistan will have 30pc electric vehicles by 2030

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UNITED NATIONS: Pakistan has informed the international community that it’s working on a plan to ensure that by 2030 at least 30 per cent of the vehicles used in the country are electronic. Along with Denmark and Norway, Pakistan co-chairs a 32-nation Group of Friends on Sustainable Energy, which is committed to a transition from fossil fuel to renewable energy. Pakistan is also a member of the Group of Friends on Climate Change, which is also committed to promoting the use of safe, renewable energy. Speaking at a virtual meeting…

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State subsidy: energy sector in Pakistan – II

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As Chairman FBR I was handling the issue of withdrawal of zero rating for sales tax on five export-oriented sectors it was then that I realized that price of electricity and subsidy thereon for industries is more important than many other things. I was not able to quantify, however, it was quite clear that a subsidy is warranted for such sectors. This leads me to the question of cost competitiveness of our export-oriented sectors. The issues that were discussed were tariffs in Lahore vs Karachi and many other such allied…

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