Govt mulls over proposal to unbundle K-Electric

ISLAMABAD: The government is considering unbundling K-Electric into separate generation, transmission and distribution companies instead of transferring it as a single entity to some other large foreign firm. The new policy consideration has officially come to the fore after recent spar between Karachi-based trade bodies led by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and K-Electric over reported poor power supply in the country’s largest city. Special Assistant to the Prime Minister (SAPM) on Power & Petroleum Tabish Gauhar has confirmed in writing that the government supported…

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LNG-Asian spot prices rise on summer demand for air-conditioning units

Asian spot prices for liquefied natural gas (LNG) rose this week, as buyers stocked up the power-generating fuel on anticipation that a warmer-than-usual summer will spur demand for air-conditioning units. The average LNG price for July delivery into Northeast Asia LNG-AS was estimated at about $10.30 per million British thermal units (mmBtu), up 70 cents from the previous week, industry sources said. Temperatures in Beijing, Tokyo, Seoul, and Shanghai are expected to be higher than average over the next two weeks, weather data from Refinitiv Eikon showed, which could increase…

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Russia’s first LNG refuelling ship completes sea trials

Russia’s first ship designed to run on liquefied natural gas (LNG) and fuel other vessels with LNG has completed its sea trials, energy firm Gazprom Neft reported on Friday. The Dmitry Mendeleev is expected to enter Gazprom Neft’s fleet in the second half of this year, the company said. “The next stage will be the testing of systems for loading, storing and discharging of LNG,” it said. The Dmitry Mendeleev is an Arc4 ice-class vessel which will able to transport up to 5,800 cubic metres of LNG. It will operate…

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IMF terms

As the budget-making exercise is coming to a close, the government appears to be facing a tough challenge to finalize the budgetary targets. The IMF terms are a hard nut to crack, and the government is bound to consult the IMF, which is hinting at slapping additional taxes to the tune of Rs500 billion in the upcoming budget. The IMF is not keen on increasing salaries of government employees whereas the government is under tremendous pressure to give a much-needed raise to its staff which is facing the brunt of…

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Pakistan’s GDP expected to hit 4.8% next fiscal year: Asad Umar

The country’s gross domestic product (GDP) growth is expected to move up to 4.8% in the financial year 2021-22, Federal Minister for Planning and Development Asad Umar said Friday. Umar, going over the government’s progress in the current fiscal year during a press conference in Islamabad, said in the nine months of the current fiscal year, IT exports showed growth of 46%.https://6bb2a8965fcf7c36cb4f901b12757977.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html Umar said the country had “witnessed a strong growth” during the fiscal year, and it is expected that the remittances would shoot up from $21.7 billion to $29.1…

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Cheap Hydro Power for Far off Industrial Estates

Mohmmand Dam construction was recently inaugurated by the Prime Minister. Similarly many other dams are also in the process of construction in KP and other provinces. With so many dams producing Hydel power that would need to be transported to populated areas would result in massive line losses that would be a wastage. Therefore with the launch of every new Hydel Power project, the Government should also launch an Industrial Estate project in the area. The Government can offer cheap fixed rate electricity to new Industries that would setup in…

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Russia, Pakistan agree to build Pakistan Stream gas pipeline – energy minsitry

MOSCOW, May 28 (Reuters) – Russia and Pakistan have signed an agreement to build the Pakistan Stream gas pipeline, Russia’s energy ministry said on Friday. Russian Energy Minister Nikolai Shulginov and Pakistan’s ambassador in Moscow Shafqat Ali Khan signed the agreement, the minsitry said. (Reporting by Maria Tsvetkova; Writing by Alexander Marrow; editing by Louise Heavens)

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Water shortages worsen for Punjab, Sindh

The water shortages for Sindh and Punjab went up to 32 per cent on Friday as river flows continued to drop and storages at both Mangla and Tarbela dams neared dead level. The Indus River System Authority (Irsa) said it reviewed the overall water situation on Friday and decided to apply 32pc shortages to the two larger provinces instead of 23pc shortage at present. The water regulator said the positive development was that temperature in Indus catchments had started to go up and was reported at 26.1 degree Celsius from…

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NA panel endorses inspectors to check water losses

The Nat­ional Assembly’s Standing Committee on Water Resources on Monday endorsed a proposal of the Punjab government for appointment of independent inspectors at critical barrages for spot checking of water losses as the provinces complained about shortages. The meeting of the panel was presided over PPP’s Nawab Yousaf Talpur. Besi­des members of the committee, the meeting was also attended by the Punjab minister for irrigation, secretaries of irrigation departments of Punjab, Sindh and Khyber Pakhtunkhwa and chairman and members of the Indus River System Authority (Irsa) representing the provinces. After…

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North South Gas Pipeline Project: Pakistan, Russia sign amended IGA

In a landmark development, Pakistan and the Russian Federation on Friday signed the amended Inter Governmental Agreement for North South Gas Pipeline (NSGPP) of 1,122 kilometers from Port Qasim (Karachi) to Kasur (Punjab) that will increase the capacity of the country to transport the imported gas from the port city to load center of Punjab. According to a press release, Pakistan’s Ambassador to the Russian Federation, Shafqat Mahmood, signed the Protocol to the Inter Governmental Agreement (IGA) along with Nikolai Shulginov, Minister for Energy, Russian Federation, in Moscow.https://61bef715b487daa8191defa19fb5b36a.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html The IGA…

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