Year: 2021

Power co Facing ‘discrimination’: Norwegian Envoy

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Norway ambassador to Pakistan has lodged a complaint with the Ministry of Foreign Affairs regarding purported discrimination against a Norwegian company which intends to set up a solar power plant. The Ambassador has forwarded a letter of Norwegian Scatec ASA Country Manager Ijaz Anwar to the Prime Minister, highlighting difficulties being faced by the company in the operationalization of MoU on financial closure with Nizam Energy. According to a letter of Additional Secretary Europe, the MoU was signed in February 2021, after hectic efforts, spreading over many years. As per…

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Gas supply to power sector increased by 71pc

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The federal government has altered gas management plan to increase gas supply to power sector by 71 per cent to 325 MMCFD from 190 MMCFD, suspension of gas supply to general industry in Punjab and KP per day on rotational basis and restoration of 75 MMCFD gas to Captive Power Plants (CPPs) for the Punjab-based export-oriented industry from December 29, 2021 (today). The decision was taken on December 28, 2021, at a meeting between Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood and Secretary Petroleum Ali Raza…

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Govt poised to break up DISCOs

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The government is set to split large power distribution companies (DISCOs) to ensure efficiency in their operations, which will help slash financial losses and power theft. Members of the cabinet raised the issue in a meeting held last week while considering the appointment of the head of Multan Electric Power Company (Mepco). During discussion, they underlined the need for splitting Mepco as its area of operations was too large, causing difficulties in addressing the problems faced by residents of the southern most districts of Punjab. Energy Minister Hammad Azhar was…

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Sindh welcomes venturing of big global tech giants into local renewables market for benefit of domestic consumers

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Big global technology companies venturing into the arena of renewable energy is indeed good news for domestic electricity consumers in Pakistan who should switch to solar power at the earliest for slashing their power bills. Sindh government’s Energy Secretary, Abu Bakar Ahmed Madani, expressed these remarks while speaking at the Huawei FusionSolar Residential Summit Pakistan here at a hotel. The provincial Energy Secretary said the domestic consumers should immediately install solar power systems to generate electricity on their own for their household needs. He emphasised that solar energy had emerged…

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LNG Shippers Are ”Printing Money” Despite Huge Volatility

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Shippers of containerized goods were caught off guard this year. Never before had container spot rates risen so far, so fast. But shippers of liquid and dry bulk commodities know such cost swings all too well. When bulk commodity transport demand exceeds supply, shipping spot rates can keep rising until cargo shippers’ profit margins are erased. The spectacular rise and fall of liquefied natural gas shipping rates is the latest example. LNG carriers boast the highest day rates of any cargo vessel type. Shippers can afford to pay eye-wateringly high…

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