Hammad for WACOG legislation to meet increased demand of gas

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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…

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Sindh Energy Minister Condemns Curtailing Gas Supply to Karachi

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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…

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IMF May Unveil Steps for Revival of Package Today

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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”.…

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

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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…

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Domestic sector: Gas supply plan Finalized

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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…

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

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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…

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Blue Economy: A Source of Economic Turnaround

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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…

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Petrol Stations to Remain Closed on Nov 25 in Protest

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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…

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