Month: December 2020

OGRA auditing gas cos to find actual UFG losses

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KARACHI: Oil & Gas Regulatory Authority (OGRA) has initiated forensic technical, commercial, and management audit of the two gas companies to determine actual unaccounted for gas (UFG) losses for indigenous as well as regasified liquefied natural gas (RLNG), separately in transmission and distribution system, an official said on Friday. Imran Ghaznavi, the spokesperson for the OGRA confirmed the audit for both supplies on monthly and yearly basis for fiscal years 2014-15 to 2019-20 along with verification of diversion of RLNG volume by Sui Northern Gas Pipelines (SNGPL) to domestic and…

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60pc of Pakistan’s energy will be ‘clean’ by 2030: PM Imran

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Prime Minister Imran Khan on Saturday said that by 2030, 60 per cent of all energy produced in the country will be “clean” and through renewable resources. “Thirty per cent of all the country’s vehicles will use electricity,” he added. The premier made the remarks while speaking at the Climate Ambition Summit 2020. According to the Prime Minister’s Office, the summit was a high-level virtual event held on the occasion of the fifth anniversary of the Paris agreement on climate change. PM Imran started his address by stating that Pakistan…

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MoC proposes concessionary rates of power to cement industry

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The Commerce Ministry has proposed concessionary rates of electricity to cement industry on exportable quantity of cement and clinker, official sources told Business Recorder. According to the MoC, the cement industry holds immense potential for exports. Pakistan exported cement to the tune of $ 266 million in 2019-20 which is expected to substantially increase in future given the business-friendly policies of the government. Cement and clinkers are exported through sea to major export destinations like Bangladesh, Sri Lanka, Madagascar, South Africa, China, etc. However, the stakeholders are approaching the Ministry…

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Is Red the New Green?

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LAHORE: A couple or more green-flashing economic indicators cannot be termed a sign of a turnaround and with this in mind it’s not hard to surmise that economy, no matter what its managers claim, will continue to remain suspect as long as the system is flawed to its core. We aspire to collect Rs4,900 billion this fiscal from taxes. This would be an uphill task. However even if the target is achieved the government will still be short of over Rs3,500 billion to meet its yearly expenses. Any shortfall in…

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