Year: 2021

KE Wins at S&P Global Platts Energy Awards in New York

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The highly coveted and most prestigious forum for the energy sector across the globe, S&P Global Platts Energy Awards announced K-Electric as the winner for its Roshni Baji Women Ambassador Program under the Corporate Social Responsibility – Diversified Program Category. Often described as the “Oscars” of Energy, the 23rd Annual Awards program was held at the Cipriani Wall Street in downtown Manhattan, United States. Out of 190+ companies from 29 countries shortlisted as the finalists, only 20 companies from 11 countries were awarded under 22 different categories. KE made it…

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Industry Questions OGRA Chairman About Gas Shortages

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President of the Federal Petroleum Corporation of Pakistan (FPCCI), Mian Nasser Hyatt Maggo, has welcomed the visit of Masroor Khan, Chairman of the Oil and Gas Regulatory Authority of Pakistan (OGRA), to the FPCCI Headquarters at Federation House in Karachi for a consultative session on the burning issue of increasing gas shortages for industry and end-users. He expressed his surprise at the purchase of LNG at a rate of $30.6 per MMBTU, claiming that this rate will jeopardize Pakistan’s fuel supply security as well as its foreign exchange reserves. Mian…

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Coal Mining, Energy Projects Success of Sindh Govt: CM

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Sindh Chief Minister Syed Murad Ali Shah on Monday said that achievements of Sindh government, include power generation from Thar coal, restoration of law and order in post-2008 scenario and establishment of powers plant, construction of roads and bridges on river Indus on PPP mode. This he said while talking to Assistant Superintendents of Police Inspectors (ASP) of Specialized Training Programme at National Police Academy here at CM House. The meeting was attended by Chief Secretary Mumtaz Shah, IG Police Mushtaq Maher, ACS Home Qazi Shahid Parvez, faculty members of…

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KP Traders Reject Fresh Increase in Power Tariff

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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 in rates of electricity and gas. Subsequently, the business community expressed fear that the prices of manufacturing products would also move toward an upward trajectory, which could directly affect the…

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Trade deficit — the worst is almost over

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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 totalled $12.344bn, despite about 27pc yearly growth. This produced a huge trade deficit of $20.59bn, about 112pc higher than the July-Nov 2020 deficit of $9.724bn. This meteoric rise in the…

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