Local traders have rejected the increase in power tariffs by Rs4.74 per unit, terming the government decision wasn’t in the best interest of business and industries growth, which should be withdrawn immediately. The traders’ community while speaking at a meeting here on Sunday attributed the increase in power tariff to the escalated cost of industrial production owing to frequent increase…
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There’s bad news. The trade deficit has gotten out of hand. But there’s good news too. The deficit has peaked and it is expected to shrink in the second half of the fiscal year, between January and June 2022. The Pakistan Bureau of Statistics says imports in July-Nov 2021 surged 69 per cent year-on-year to $32.934 billion. But export earnings…
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The domestic production of high-speed diesel (HSD) and petrol could potentially go up by 60 per cent and 48pc, respectively, leading to a significant foreign exchange saving provided the local refineries operated at optimum capacity. The oil import bill, particularly of refined petroleum products, has been the largest chunk of about 83pc increase in imports in the first five months…
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Sui Northern Gas Pipelines Limited (SNGPL), Rawalpindi Region would launch a campaign to check the use of compressors. According to a SNGPL spokesman, the consumers of some localities were facing low gas pressure due to severe cold weather for some days. “SNGPL is trying to utilize all available resources to increase the gas pressure,” he claimed. To a question he…
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PAKISTAN’S energy sector is in a total mess, riddled with shortages, inefficiencies, massive debt, dependence on imported fossil fuels etc. We have consolidated different energy-related ministries and institutions under one ministry but failed to develop a comprehensive and integrated policy for ensuring national energy security. The lack of a well-defined national energy strategy also means the absence of a proper…
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In a surprise move, the federal government on Saturday removed Petroleum Secretary Dr Arshad Mahmood from his post, giving more powers to the Power Division, which is reportedly responsible for the imminent oil crisis. The country is heading towards a crisis because of a massive slump in the off-take of furnace oil by oil marketers and power plants. The Power…
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The Cabinet Committee on Energy (CCoE) has almost closed the chapter on 13 Renewable Energy (RE) projects of 600MW with the clear decision that no exceptions are admissible to any Alternative and Renewable Energy (ARE) project and all such projects will be treated in line with the approved policy, well-informed sources told Business Recorder. National Electric Power Regulatory Authority (Nepra) Chairman…
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