Tanker Delivering Petrol Catches Fire at Gas Station

A fire broke out in a tanker parked at a petrol pump in front of Saddar Parking Plaza on Saturday. The fire started during the transfer of fuel which was put out by the firefighters after a fierce struggle. The tanker contained 16,000 litres of petrol. There was also a risk of exploding the tanker as well as the underground fuel tank at the petrol pump during the fire. One snorkel and eleven fire brigade vehicles took part in the operation. Sources said, at around 11 o’clock on Saturday morning,…

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Hammad for WACOG legislation to meet increased demand of gas

Minister for Energy Hammad Azhar on Sunday underlined the need for crafting Weighted Average Cost of Gas (WACOG) legislation to meet increased demand of the commodity especially in peak winter season. “During winters a demand spike occurs in local gas circuit which cannot be plugged by imported LNG till WACOG legislation,” he said in a tweet. Elaborating, the minister said the country have two gas circuits in operation, under which 70 per cent was based on local gas and 30 per cent on imported Liquefied Natural Gas (LNG). “Both circuits…

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Sindh Energy Minister Condemns Curtailing Gas Supply to Karachi

Sindh Energy Minister Imtiaz Ahmed Sheikh has raised concern over the sudden suspension of the natural gas supply to a number of residential areas of Karachi.1 In a statement issued on Sunday, he said the residents of Korangi, Mehmoodabad, Qayyumabad, Korangi Industrial Area, Mehran Town, Shah Faisal Colony and their adjoining areas were facing serious hardships due to the sudden curtailment of the gas supply. He blamed the federal government for the hardships being endured by the residents of several localities in the city due to sudden stoppage of gas…

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IMF May Unveil Steps for Revival of Package Today

With policy rate increased by 1.5 per cent, the International Monetary Fund (IMF) is set to declare a staff-level agreement with Pakistan on revival of $6 billion Extended Fund Facility (EFF) which has been ‘in recess’ since April. Highly placed sources said told Dawn on Sunday that an IMF “statement [on staff-level agreement] could be released anytime shortly, most probably on Monday”. The statement would envisage ‘prior actions’ that would have to be met before the IMF’s executive board meeting to approve completion of sixth quarterly review of the programme and disbursement…

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$3 bn Gas Pipeline Project: No Sovereign Guarantee as EPC Contractor, Russia Tells Pakistan

The new legal firm hired by the Inter State Gas System (ISGS) has asked the authorities that Pakistan may face problems if the $3 billion Pakistan Stream Gas Pipeline project is completed under the amended Inter Governmental Agreement (IGA) signed with Russia in Moscow. The legal firm wants renegotiation on some vital issues already settled under the signed amended IGA and Heads of Terms. It is pertinent to mention that the IGA earlier signed in 2015 was amended and signed in May 2021 on the demand of Islamabad with Pakistan…

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Domestic sector: Gas supply plan Finalized

The Petroleum Division has finalised winter seasonal plan for uninterrupted gas supply to the domestic sector by curtailing supply to the CNG stations and the general industry (non-export) from December 1 to January 15, 2022. In December 2021, the domestic and commercial sector supply will be around 948 mmcfd, in January it will raise to 1,048 mmcfd, and the gas deficit will be an estimated 67 mmcfd and 117 mmcfd, respectively. The gas management plan will also be developed to ensure the stable supply of gas to the domestic consumers.…

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Energy Minister asks SNGPL to Stop Issuing New Demand Notice for Domestic Gas Connections

In an apparent bid to meet rising gas demands during this winter season, energy minister Hammad Azhar has advised a state-owned gas utility to completely stop issuing new demand notice/proposal letters in respect of domestic gas connections. According to sources, Federal Minister for Energy, Hammad Azhar has strictly advised Sui Northern Gas Pipelines Limited (SNGPL) to completely stop issuing new domestic gas connections. And, following the strict advice of Federal Minister for Energy, SNGPL has stopped issuing new demand notices/proposal letters in respect to domestic gas connections and assured the…

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Blue Economy: A Source of Economic Turnaround

About 10% ($1.5 trillion) of China’s gross domestic product (GDP) is contributed by its blue economy. Thus, the sector, and especially shipping, has served as an engine of development for several countries. Our Quaid also had a vision of establishing a fleet of 100 ships and economic independence for Pakistan. This article is an attempt to take stock of where we stand vis-a-vis his above objectives. In 1947, we inherited only four privately owned cargo vessels. By 1963, the fleet comprised 53 privately owned vessels. In 1974, the industry was…

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What Next? Karachi Waits with Bated Breath

A WEEK after the blaze, stench and despair marked the environment as one visited the Cooperative Market in downtown Saddar. Workers were busy moving the remains from the gutted shops, while the owners were busy filling out loss assessment forms. The leaping flames extinguished life for close to 400 shops within hours. The cause of fire and reasons for the rather high scale of destruction, despite multiple fire stations being in the vicinity, are yet to be established. The affected traders are staring at a bleak future unless the government steps…

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Petrol Stations to Remain Closed on Nov 25 in Protest

The country may face shortage of fuel after All Pakistan Petrol Pumps Dealers Association announced that it will observe a nationwide strike on Nov 25 as the government had failed to increase the dealers’ margin by 6pc. All Pakistan Petrol Pumps Dealers Association Information Secretary Nauman Ali Butt said petrol filling stations across the country would remain closed on Nov 25. He said the government had not accepted their demands and that no negotiations would be held until the margin was raised by 6pc. It may be mentioned here that…

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