Year: 2020

IMF seeks hike in power prices

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ISLAMABAD: The International Monetary Fund (IMF) on Thursday again linked revival of the stalled $6 billion programme with increase in electricity prices and additional revenue measures – the two conditions that Pakistan had not fulfilled in January this year, which derailed the programme. The technical teams of the IMF and Pakistan on Thursday held discussions over the steps that Pakistan will have to take for restoring the programme, sources in the Ministry of Finance and Ministry of Energy told The Express Tribune. The discussions were held through a video link,…

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Experts term pro-active energy management a key requirement for Pakistan in the energy sector

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The experts from energy sector said this while sharing their view with the participants of online webinar ‘Indicative Generation Capacity Expansion Plan (IGCEP) 2047 and the challenges’ organized by the Sustainable Development Policy Institute (SDPI), here on Tuesday,  with support from the Institute of Policy Studies (IPS), the Rural Development Policy Institute (RDPI), the World Wind Energy Association (WWEA), and World Wide Fund for Nature-Pakistan (WWF-Pakistan). Mr. Simon Nicholas, representing Institute for Energy Economics Analysis, shared with the participants that although the plan takes into account both energy and economic…

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Pakistan PSO seeks winter fuel oil as gas supply falls

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Pakistan’s state-owned marketer PSO is back in the spot market seeking fuel oil on a shortage of domestic natural gas supplies in the country during winter. PSO is also seeking low-sulphur fuel oil (LSFO) in its most recent tender, an unexpected move after Pakistan did not import LSFO in 2019. PSO has issued three spot tenders this week seeking to import both high-sulphur fuel oil (HSFO) and LSFO for delivery in November-December. According to traders, PSO has tendered to import two 60,000-65,000t cargoes of 120cst LSFO with 0.9-1pc sulphur and…

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PLL signs LNG supply deal with K-Electric

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ISLAMABAD: Pakistan LNG Ltd (PLL) said on Thursday it has signed an initial deal to supply liquefied natural gas (LNG) to K-Electric’s plants from 2021, helping the country cut its carbon emissions. The country has increased its reliance on imported LNG over the last few years as its local gas output has declined while domestic demand, led by power sector, has increased. PLL recently invited bids to import up to six LNG cargoes for December. PLL will supply up to 150 million cubic feet per day (mmcfd) of gas to…

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Power tariff hike making Pak products uncompetitive’

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KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lamented frequent increase in the energy prices and said it is making Pakistani products uncompetitive in the international market, a statement said on Saturday. “Pakistan is losing the international markets to China, India and even Bangladesh,” FPCCI President Mian Anjum Nisar said. Although the oil prices were linked with the international prices, the benefit of decline in oil prices had not been passed on to the consumers for quite a long time, he added. According to Consumer Price…

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