The Oil and Gas Regulatory Authority (Ogra) has prepared a summary, seeking an increase in petrol prices from July 01. According to sources privy to the decision, the regulator has recommended an increase in petrol price by Rs6 per litre. The authority has suggested an increase of Rs3 per litre in the price of high-speed diesel. According to sources, the fuel prices may increase further if the petroleum levy is increased to Rs30. Any final decision on the hike in petrol prices would be made after approval from Prime Minister…
Read MoreMonth: June 2021
June 2021
Peak in twin energy crises on the cards
Peak in twin energy crises on the cards June 28, 2021 A twin energy crisis is going to peak in next few days with initiation of LNG terminal’s dry docking, annual closure of a key gas-well and man-made bottlenecks in supplies. The most efficiently-run LNG import terminal will be shut down temporarily today (Monday), as Floating Storage and Regasification Unit (FSRU) is going to leave for mandatory dry docking, disrupting gas supplies for around five days. The back-to-back cut in RLNG supply and annual closure of Kunar Pusaki gas field…
Read MoreTax reforms
For any developing economy tax collection represents the most critical component for growth and development. On an average, developing economies collect less than 15 percent of GDP in taxes, compared with the 40 percent collected by advanced countries. The ability to collect taxes is central to a country’s capacity to finance social services such as health and education, critical infrastructure such as electricity and roads, and also undertake much needed public welfare schemes and projects for the most under privileged segments of the society. Given the much needed investment required…
Read MoreWhy ‘loss making’ electricity firms hurt customers
Like Houston, we will have a problem. Results of a case when utilities are not encouraged to invest. Earlier this year, millions of homes in Texas were without power for days in what is dubbed as one of the worst power crises in world history. Houston is really a case in point. The electric grid in Texas was built for efficiency, but not for climate resilience and resultant changes to operational requirements. The past three decade’s policies in this sector do not reflect any adequate framework for future growth and…
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