Wholesale power market: CPPA-G putting finishing touches to rules

The Central Power Purchasing Agency-Guaranteed (CPPA-G) is giving final touches to rules for the establishment of a wholesale electricity market and proposed legislative changes in the current electricity mechanism, scheduled to be effective from April, 2022, well-informed sources told Business Recorder. The Economic Coordination Committee (ECC) of the Cabinet in its decision of April 30, 2015 mandated CPPA-G to prepare a comprehensive Competitive Trading Bilateral Contract Market (CTBCM) design and plan for transition of the power market. However, CPPA-G took five years to finalise a detailed design as the Power…

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UK announces capacity building initiatives for brick kilnS to reduce emission

The United Kingdom has announced support to capacity building initiatives for the brick kiln sector in Pakistan to reduce emission for improving air quality and reducing smog. These views were expressed by Christian Turner, British High Commissioner to Pakistan in a press statement issued in connection with launching of UK support to the brick kiln sector to reduce emission. “The UK support will start from Punjab province where over 11,000 brick kilns are concentrated in agricultural heartland and by improving air quality, reducing smog, cleaner brick production processes will have…

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Pakistan walks a tightrope with the IMF

The International Monetary Fund (IMF) has postponed sixth review of its $6 billion bailout programme for Pakistan. The review talks did not make headway and therefore now the assessment will take place in September. That might not appear strange at a first glance. Pakistan has already had its previous reviews done together in March because of the exceptional situation created by the COVID-19 pandemic. For keen observers, however, this is a setback. The message that it sends out to other global lenders is not good — Pakistan has not fully…

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Pakistan prosperity index reaches all-time high in March

Despite declining purchasing power and fall in large scale manufacturing (LSM) output, Pakistan prosperity index registered an increase in March on the back of improvements in trade volume and private sector lending, said a public policy think tank. Policy Research Institute of Market Economy (PRIME), in a monthly review of the country’s macroeconomy, said Pakistan prosperity index (PPI) increased in March 2021, reaching an all-time high of 128.1 after dipping in February 2021. “This figure is indicative of increased economic prosperity largely driven by improved business confidence,” PRIME said. “The…

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Draft Pakistan Oil refining policy 2021 reviewed Energy sector keeps cycle of economy moving: Tarin

Federal Minister for Finance and Revenue Shaukt Tarin, Tuesday, said that energy sector was indeed very crucial to keep the cycle of economy moving with ever growing momentum. Oil refineries in Pakistan have been pillar of energy security of the country and now the government wants the domestic oil refineries to upgrade themselves at par with international standards. Chairing a high level meeting here to review progress on Draft Pakistan Oil Refining Policy 2021, Finance Minister Tarin said that the Prime Minister was very keen about progress in all sectors…

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Pak power demand increased by 20pc this year

Pakistan’s electricity demand has soared to 20 percent of which the industrial demand alone has increased by 12-13 percent, which may lead to high economic growth. The Federal Minister for Energy Muhammad Hammad Azhar said this during a meeting with the U.S. Embassy’s Chargé d’ Affaires, a.i. Lesslie Viguerie here on Monday. Secretary Power Division Ali Raza Bhutta, Daniel Froats, Economic Counselor US Embassy and other senior officials were also present during the meeting. Azhar said that the increase in demand is a very positive sign not only for the…

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Steps under way to not let gas crisis hit power supply

Amid gas shortfalls affecting power supplies at the peak of summer, emergency meetings are being arranged at the highest level to facilitate later this month dry-docking of floating LNG terminal of Engro that has blamed the government entities for creating the mess. This is happening at a time when the hydropower system has its natural constraints, local gas fields require annual turnaround for maintenance and furnace oil supplies at short notice through gallop tender are getting expensive. Officials requesting not to be named told Dawn that the power and petroleum…

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LPG PRICES HIKED FOR THIRD TIME IN FOUR DAYS

The prices of the Liquefied Petroleum Gas (LPG) have been raised in the country for the third time within a span of four days as distributors have announced a nationwide strike against the decision on June 30, ARY NEWS reported on Tuesday. The Oil and Gas Development Company Limited (OGDCL) announced an increase of Rs6.09 per kilogram in the prices of LPG cylinders. After the recent increase, Rs71.93 would be charged more on the household cylinder while commercial cylinder prices would go up by Rs276.75. The LPG prices were raised…

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Preparatory work of 300MW Balakot hydropower project completed

Engineering feasibility study and the environmental impact assessment of 300-megawatt Balakot hydropower development project have been completed to get the project into the next phase of construction, The News learnt on Tuesday. Hagler Bailly Pakistan and a Portuguese engineering consultancy AQUALOGUS in association with Zeeruk International Pvt. (Pakistan) carried out the preparatory works of the project located on the Kunhar river, a tributary of the Indus River, in the Mansehra district of Khyber Pakhtunkhwa. Asian Development Bank (ADB) in March approved $300 million loan for the project estimated to cost…

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PPL Makes Maiden Offer For Raw Gas Sale To Third Party

The Pakistan Petroleum Limited (PPL) has made a maiden offer to sell 3mmscfd (million standard cubic feet per day) wellhead raw gas from its Naushero Feroz Block for sale to the third party, an official document suggested. The NF Hor-1 well is one of the deepest and longest horizontal wells in tight gas reservoirs drilled in Pakistan. It is also the country’s first well to be completed with 10-stage multi-frack. PPL made a tight gas discovery at NF X-1 in 2014; followed by an extensive in-house geological and geophysical studies…

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