Month: January 2021

Coal demand expected to spike in 2021

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KARACHI: Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year. According to sources, the import of coal at three coal-based power plants – China Hubco, Sahiwal and Port Qasim Electric — is around 10-12 million tonnes per annum. According to Nepra, the contribution of coal to the country’s energy mix was a staggering 21 per cent in CY20. The cement sector is also expanding its capacity to cope with the rising demand under Prime Minister’s Naya…

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OGRA approves 5.4% tariff hike

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The Oil and Gas Regulatory Authority (Ogra) has allowed a 5.4% increase in the price of gas for consumers of Sui Southern Gas Company (SSGC). The regulator allowed the hike in the prescribed price of gas while determining the estimated revenue requirement (ERR) of SSGC for financial year 2020-21. The oil and gas regulator allowed the price increase in order to recover shortfall of Rs14,270 million in the ERR for financial year 2020-21, including prior year shortfall of Rs50,983 million. The new prescribed price has been determined at Rs778.59 per…

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Karachi ranks as second most polluted city in the world today

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KARACHI: Pakistan Meteorological Department said the city’s weather is likely to remain dry and cold during the next 24 hours on Thursday. According to the Air Quality Index, Karachi has been ranked second among the most polluted cities in the world today. The minimum temperature recorded in the provincial capital city today was 9.2°C. However, due to the haze, the visibility near the airport was recorded at 3 kilometres. Read more: Karachi ranks seventh among most polluted cities of the world today As per details from the weather department, the…

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ECC forms committee to review OMCs’ margins on petroleum products

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Committee okays continuation of general subsidy on five essential items through USC; approves allocation of gas from Mari Petroleum wells to SSGC; defers five-year textile policy for further deliberations The Economic Coordination Committee (ECC) of the Cabinet has constituted a four-member committee to review the margins of oil marketing companies/dealers on petroleum products. The ECC meeting was held under the chair of Finance and Revenue Minister Dr Abdul Hafeez Shaikh on Thursday. According to details, the Petroleum Division had proposed Rs0.45 per litre hike in OMCs’ margin on MS and…

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Ogra approves gas price hike for Sindh, Balochistan

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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has allowed the Sui Southern Gas Company Limited (SSGCL) to charge 5.4 percent more charges from gas consumers to recover its multi-billion rupees shortfall. It notified a 5.4 percent increase in prescribed gas price and fixed it at Rs778.59/mmbtu for SSGCL to recover Rs14.27 billion shortfall in estimated revenue requirement (ERR) for the financial year 2020-21 including prior year shortfall of Rs50.983 billion. It also allowed the gas utility to increase the gas meter rent from Rs20 per month to Rs40 per…

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