Month: December 2020

National power policy: Govt wants multi-buyer, multi-seller electricity system

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ISLAMABAD: Special Assistant to Prime Minister Special Assistant on Power Tabish Gauhar said on Monday that domestic and agriculture consumers are being provided a subsidy of Rs 450 billion per annum which is not sustainable. He was addressing a session on National Electricity Policy 2020, to be submitted to the Council of Common Interests (CCI) for final approval. “Industrial and commercial consumers are cross subsidizing Rs 250 billion that’s why Prime Minister says industrial tariff is 25 per cent expensive in Pakistan as compared to India and Bangladesh. In addition,…

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PIA resumes flights to Saudi Arabia to bring back Pakistanis

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Pakistan International Airlines (PIA) resumed its flight operation from Saudi Arabia on Monday to bring back Pakistanis willing to leave the Kingdom. A PIA spokesman said that Saudi Arabia had announced suspension of all international flight services on 21st of this month, as part of precautions to avert any possible spread of Covid 19. However, in view of the existent situation, Saudi Arabia has allowed foreign airlines to operate flights and carry non-Saudi passengers outside the Kingdom. Saudi authorities have instructed that the crew of foreign airlines will not be…

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E&P companies plan to inject 150mmcfd of gas into system

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ISLAMABAD: The oil and gas Exploration & Production (E&P) companies have planned to inject around 150 Million Cubic Feet per Day (MMCFD) additional gas in the transmission network in the coming days from their different fields to meet the increased demand of the commodity during current winter. “Additional local gas and increased import of Liquefied Natural Gas (LNG) will help tackle the high demand of the commodity in winter,” a senior official privy to petroleum sector developments told APP. He said around 30 percent additional supply of LNG had been…

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Power Reforms: Think Beyond Pricing

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The biggest challenge facing the government today is the power sector. These words were echoed by none other than Prime Minister Imran Khan himself earlier last week. These words have been echoed midway in their respective tenures by PM Gilani and PM Sharif as well. A decade on, and the power sector remains a headache. Safe to say, it has not been dealt with very well. Honest admission is a good start. But this is not the first one. One would still come to terms with the state of affairs…

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Trapped in a Maze of Cross-Subsidies

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The Economic Coordination Committee (ECC) of the cabinet decided in a recent meeting to begin the process for the rationalisation of subsidies — a long-time demand of global lending agencies led by the International Monetary Fund (IMF). The decision was based on a presentation made by Dr Waqar Masood Khan, who headed a Subsidy Cell in the Ministry of Finance before being elevated as special assistant to the prime minister on revenue. Dr Khan is reported to have estimated that the action plan proposed for the first phase of subsidy…

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