Day: February 21, 2021

Pakistani ‘oil city’ masterplan for $10 billion Aramco refinery expected by year’s end

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GWADAR: The planning process for the country’s largest oil city — which will house a $10 billion Aramco Oil Refinery project — in Pakistan’s southwestern Balochistan province is expected to conclude before the end of the year, Pakistani officials said this week.  The proposed mega oil city will be developed at an area of 80,000 acres in Gwadar District for the refining and processing of petroleum products mainly imported from the Gulf region for local and regional needs.   “The planning for the mega oil city which will host Aramco Refinery…

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Rs108b savings expected from power shift to solar

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The Punjab government has decided to shift government offices, schools, colleges, universities and health units across Punjab to solar power under the Green Energy Programme through which Rs108 billion will be saved annually. A comprehensive plan has been formulated to increase the use of solar energy in the light of the directives issued by Punjab Chief Minister Usman Buzdar. In the first phase of the programme, government offices and educational institutions in Lahore, Faisalabad, Multan and Sahiwal will be shifted to solar power while in the second phase, government offices…

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Proposed levy on LPG imports via land route may impact Balochistan

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The federal government has proposed a liquefied petroleum gas (LPG) policy that may leave the least developed province disadvantageous. Daily Times has obtained policy recommendations of a subcommittee of the Cabinet Committee on Energy, which canvass policy shift designed to defeat land imports of LPG with the objective of benefiting imports by sea. “As the land import does not attract any port charges and other related costs, except for border operation charge (around 1,300 Rs/t), a Regulatory Duty equivalent to PL on domestic LPG is recommended, only for land imports,…

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Govt clearing liabilities of power sector: Omer Ayub

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Federal Minister for Energy Omer Ayub Khan on Friday said present government was clearing liabilities of the previous regimes in the power sector that had been incurring huge losses to national exchequer. Taking part in the debate in the National Assembly regarding inflation, he said that the previous government had somehow planted “landmines” in the foundation of economy. He said that the annual capacity payment to the Independent Power Producers (IPPs) was Rs185 billion in 2013, Rs468 billion in 2018 and Rs860 billion in 2020, and it would surpass Rs1,455…

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Govt plans first $500m green bond to fund hydropower projects

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The government is planning to issue a $500 million green bond in the next few months to help boost its development of hydroelectric power. The bond, denominated in euros, will be the government’s first to fund environmental goals, Malik Amin Aslam, Adviser to Prime Minister Imran Khan on Climate Change, said in an interview with Bloomberg. It is set to be issued through the country’s state-owned Water & Power Development Authority, with JPMorgan Chase & Co. advising, he said. “We’ve got a lot of hydro potential in Pakistan,” he said…

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