Day: September 25, 2021

For the second straight month, national grid generated highest-ever electricity. August 2020 net generation at 16 billion units is 10 percent clear of August 2020. And there is no low base effect at play, as August 2020 had recorded the highest for any August. The 12-month moving average monthly generation is also up by 8 percent. There are clear signs of the economy waking up from the slumbers, but this is by no means an unprecedented rate of growth. There have been long stretches of double-digit growth in demand in…

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This translated into an earning per share of Rs0.67 against loss per share Rs0.46. A statement said despite tough business conditions, the company earned revenue and gross profit of Rs142.1 billion and Rs8.1 billion respectively during the twelve months, compared to Rs173.8 and Rs2.9 billion last year. The operational climate for the oil refineries remained challenging during the fiscal year, it said. As a result, oil prices and oil demand increased, driven by the re-opening of the global economy, which gave respite to the oil sector. Oil consumption in Pakistan…

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The government is in the process of privatising National Power Parks Management Company Limited (NPPMCL), which owns Haveli Bahadur Shah Power Plant (1,230 megawatts) in Jhang district and Balloki Power Plant (1,223MW) in Kasur district, said Federal Minister for Privatisation Mohammed Mian Soomro. Chairing a meeting with heads of local commercial banks on Friday, he said that both power plants were established through government funding or equity instead of the debt-to-equity ratio allowed by the National Electric Power Regulatory Authority (Nepra) under tariff determination for NPPMCL’s power plants. “It has…

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Pakistan’s industrial, commercial and household customers were set to face partial suspension of gas supplies from Saturday in the wake of emergency shutdown of Pakistan GasPort LNG import terminal for repair and maintenance. “GasPort’s LNG terminal, located at Port Qasim, is scheduled for emergency shutdown to undergo repair and maintenance from 12 noon on Saturday,” Sui Southern Gas Company (SSGC), which facilitates the transportation of LNG from the port to upcountry areas, said in a statement on Friday. Pakistan has only two re-gasified liquefied natural gas (RLNG) terminals at present.…

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