Year: 2021

Project to help Pesco save Rs1.3bn

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ISLAMABAD: A recently completed US government-assisted pilot project will help the Peshawar Electric Supply Company (Pesco) save Rs1.3 billion annually by overcoming the issues of theft, billing problems and power supply in the provincial capital. Under the project, the US Agency for International Development (USAID) installed 157-km anti-theft cable and 5,000 smart meters in various areas covered by Pesco, including Chamkani subdivision, which had been reporting approximately 60 per cent revenue loss worth Rs1.3bn annually, a press release said on Monday. Smart meters operating on a central wireless internet system…

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No change in petrol, diesel prices

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ISLAMABAD: The government on Monday decided not to increase the prices of petrol and high-speed diesel (HSD) by adjusting taxes, but increased the rates of kerosene and light diesel oil. “Despite very limited fiscal space, the government has decided that the prices of petrol and HSD will remain the same,” said the Ministry of Finance. On the other hand, it increased the price of kerosene by Rs3.42 per litre and light diesel oil by Rs2.19 per litre. This is third fortnight that the government did not increase the prices of…

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GasPort plans $94m virtual LNG pipeline from Gwadar

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LAHORE: The Gwadar GasPort Limited (GGPL) plans to invest $94.04 million in a ‘virtual pipeline’ to deliver imported liquefied natural gas (LNG) at the doorsteps of the industrial and other private sector consumers at competitive prices via cryogenic bowsers. “We hope to commission the terminal as early as October/November subject to issuance of a provisional licence from the Oil & Gas Regulatory Authority (Ogra) and other regulatory approvals,” a senior GGPL executive told Dawn on Monday. The company — a joint venture comprising the Pakistan GasPort, Al-Qasim Gas and Jamshoro Joint Venture…

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Electricity tariff to go up by Rs5.36 per unit in two years

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ISLAMABAD: The government on Monday approved a plan under which the base electricity tariff across the country will further increase by a cumulative Rs5.36 per unit (more than 34 per cent) in at least three phases over the next two years. The Circular Debt Management Plan (CDMP) was approved during a meeting of the Cabinet Committee on Energy (CCoE) presided over by Planning and Development Minister Asad Umar. It was attended by Energy Minister Omar Ayub Khan, Finance Minister Dr Abdul Hafeez Shaikh, prime minister’s special assistants Tabish Gohar, Nadeem…

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Asia’s LNG demand upends global gas pricing models

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The change was highlighted this winter, when freezing temperatures in the northern hemisphere meant liquefied natural gas tankers went to Asia, the biggest consumer of the fuel and where sellers could get record-high rates. That pushed up market levels in Europe and, conversely, is now acting as a price brake as winter ends and LNG supplies return to the region. “Over the next couple of years European gas prices will become less and less Europe-centric, and more and more globally influenced,” said Andy Sommer, team leader for fundamental analysis and…

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