Year: 2021

Pakistan Petroleum Limited (PPL) has commenced commercial production of gas from Benari Development and Production Lease. In a statement, PPL the operator of block 2467-16 (Shah Bandar) announced the commencement of commercial gas production from Baneri Development and Production Lease (Benari D&PL) in Shah Banda Block with effect from 3 May 2021. As per details, the block is located in districts Thatta and Sujawal and lies in the southernmost part of the lower Indus basin. Baneri X-1 well in Baneri D&PL is the first exploratory well drilled in Shah Bandar…

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Federal Finance Minister Shaukat Tarin has said that it was unjustified for the International Monetary Fund to force Pakistan to increase its electricity tariff and that they would review the programme.    He criticized the IMF for setting conditions that in his opinion have been affecting Pakistan’s economy negatively. On the IMF instructions, Pakistan promised to increase taxes by a massive Rs1.272 trillion and jack up electricity rates by almost Rs4.97 per unit in the remaining three months of this current fiscal year. The IMF said it was necessary to…

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The government has prioritised power projects, which also include strategic projects under the China-Pakistan Economic Corridor (CPEC) to execute the Indicative Generation Capacity Expansion Plan (IGCEP). Sources told The Express Tribune that the government will execute those power generation projects under the government-to-government arrangement that are listed under federal government’s international (bilateral or multilateral) commitments, if project financing agreements have been signed. In the second category are those committed projects that have obtained Letter of Support (LOS) as of December 2020 for private sector projects. In the third category federal…

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