Year: 2021

The senate standing committee on power has observed that the number of employees in government-owned power generation companies (Gencos) have exceeded their need and recommended a cut down on the workforce, adding that doing so would lighten the burden on the national exchequer. A meeting of the senate panel, held on Thursday, under the chairmanship of Senator Saifullah Abro also reviewed the circular debt plight and directed the Power Division (Ministry of Energy) to submit a complete breakup of where and how much was spent. It also sought details of…

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THIS is now getting suspicious. What looked like rank incompetence about a year ago is now beginning to smack of malfeasance. In case you have not had a chance to follow how this government is repeatedly fumbling the business of LNG imports, here is a snapshot of the latest episode on In mid-July, Pakistan State Oil tendered in the spot markets for one cargo of LNG to be delivered in August. When the bids came they were priced above 27pc of crude. So if the price under the long-term contract…

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The government on Thursday constituted a couple of committees on Liquefied Petroleum Gas (LPG) policy. A meeting presided over by Petroleum Secretary Dr Arshad Mahmood and attended by almost all the stakeholders asked the producers, importers, marketing companies, distributors and the regulator to suggest incentives they required, investments they would make in return and what benefits these would bring to the market. The secretary assured the participants that the new LPG policy would not be imposed on them, rather every effort would be made to prepare a consensus document that…

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State-run Pakistan State Oil (PSO) on Thursday got a better offer for Liquefied Natural Gas (LNG) from longtime friendly supplier Qatar Petroleum (QP) for delivery in the last week of current month at $15.93 per unit (22.13pc of Brent) that is still the highest-ever LNG price in the country. While accepting the lowest bid among three others, the country’s largest company by revenue and biggest fuel supplier, confirmed the cargo for Aug 29-30 would be the most expensive so far. “The highest slope PSO has paid was in February 2016…

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