Year: 2020

Industry rejects SSGC’s plea for gas price hike

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ISLAMABAD: Major stakeholders including commercial and industrial representatives on Monday opposed increase in prescribed gas prices demanded by the Karachi based Sui Southern Gas Company Ltd (SSGCL) to meet its revenue requirements for the current fiscal year. Instead the All Pakistan Textile Mills Association (Aptma) made a case for cut in the well-head gas price to reduce the cost of gas supply and cover up SSGCL’s revenue gap. This was also supported by the SSGCL. Other key stakeholders including car manufacturers, ceramics association and Karachi Chamber of Commerce and Industry…

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SNGPL proposes steep hike in gas prices

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ISLAMABAD (Dunya News) – Sui Northern Gas Pipelines Limited (SNGPL) has requested to impose an additional burden of more than Rs 250 billion on its consumers. OGRA will hold a public hearing on SNGPL’s proposal on November 26. According to Oil and Gas Regulatory Authority (OGRA), Sui Northern has demanded an increase of Rs 773.50 per MMBTU in gas price from July 1, 2020. It has proposed to fix the average price of gas at Rs 1,404.91 per unit. In terms of operating income, an increase of Rs 60.41 per…

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Pakistan’s economy: somewhere it all went wrong

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KARACHI: Fun fact: between 1960 and 1990, Pakistan’s GDP growth was higher than that of South Asia for all but just five years. In the last 30 years, however, it has been higher in only two annual readings, according to World Bank data. A remarkable reversal for a country that posted its highest population growth rate in the 1980s, suggesting that greater economic activity would be needed to maintain the same standard of living. The time-period division has not been made to imply that a U-turn was made precisely in…

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Grant awarded for efforts to transform oil and gas wells to geothermal power generation

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In a release Colorado, U.S.-based Transitional Energy announced it has received a $500,000 Advanced Industries Grant from the Office of Economic Development and International Trade (OEDIT). OEDIT provides these grants to proof-of-concept and early stage companies to support the commercialization of innovative technologies and products that support the Colorado economy. Transitional Energy will use these funds to support the development and conversion of oil and gas wellbores and associated infrastructure into geothermal power generation facilities. Oil and gas production has long been a key industry underlying Colorado’s economic growth. As…

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For turning MoUs into amended PPAs: Govt, 47 IPPs set to embark upon crucial talks from tomorrow

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ISLAMABAD: The crucial round of talks between the government and IPPs to turn the MoUs into amended Power Purchase Agreements (PPAs) will start from tomorrow (Tuesday) on Payment Mechanism of dues that has been finalised by top notches of the Power Division and finance ministry with the World Bank, a top official of the Power Division told The News. “As many as 47 IPPs installed plants under power policies 1994, 2002 and 2006 that signed MoUs on August 13, 2020 and over three-month period has elapsed and so far there…

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