OGRA hikes April LNG prices by at least Rs24 per mmbtu

The Oil and Gas Regulatory Authority (OGRA) has Wednesday announced a revision in the imported LNG prices for the month of April hiking $0.17 for the Sui Northern system and $0.16 for the Southern, ARY News reported. For the month of April, Sui Northern Gas Pipelines Limited (SNGPL) shall sell the imported gas against $9.763 per unit, according to the notification while for the Sui Southern Gas Company, the per unit rates will be $9.477 from now on. The previous rates were $9.59/unit and $9.31/unit for SNGPL and SSGC respectively…

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CAA negligence costs PIA over Rs19 billion

PIA-plane

In the last 9 months, the national flag carrier – the Pakistan International Airlines (PIA) – has suffered a loss of over Rs19billion on account of a ban imposed on its flight operation by the European Union (EU) primarily due to the negligence of the Civil Aviation Authority (CAA). Sources in the PIA said the airline has to incur a loss of Rs2.2billion every month since July 2020 when the European Union Aviation Safety Agency (Easa) placed a six-month ban on the PIA flights in the wake of PIA plane…

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The Future of Travel in the Covid-19 Era

We may not know much about when it will be safe to resume traveling internationally, or how soon after that countries will begin to lift travel restrictions. What we do know is that travel will be fundamentally different on the other side. Airlines, airports, cruise lines, and hotels will all need to develop and adhere to new guidelines about social distancing, cleaning, and food service. Transparency, which hasn’t been the industry’s strongest suit—think ineffective travel insurance policies and cryptic passenger protection rules—will become essential. And companies will need to shift…

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Fuel adjustments remain high

Another 64 paisas per unit gets added to the monthly Fuel Charges Adjustment (FCA) for February 2021. This takes the average monthly adjustment in FY21 so far to 82 paisas per unit, of Rs1 per unit sought originally. February is historically the month with lowest electricity demand, and invariably the month with least economic merit order violations. Low power demand, coupled with easing domestic and imported gas demand pressure, ensures the system runs rather smooth in February. That said, there were still deviations from the reference monthly tariff, as power…

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Power division asked for cost-effective solution to pensions

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday directed the power division to deliberate further and present options for cost optimisation regarding pension liabilities of surplus employees of closed power plants. Power division presented a summary for a one-time grant to power generation companies for onward payment to distribution companies regarding the actuarial value of pension and pensionary benefits of surplus employees and also taking over the liability for payment of pension to existing pensioners of power plants which were decided to be closed immediately by the…

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