Year: 2021

Electric vehicles 140% pricier than conventional cars

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Car assemblers have said that electric vehicles will remain out of the reach of people as these are 140% more expensive than conventional cars despite a recent reduction in taxes, urging the government to instead promote hybrid cars. In a briefing to the National Assembly Standing Committee on Finance on Monday, two big players also blamed the government’s taxation and exchange rate policies for an unprecedented price hike in Pakistan. They said that nearly two-thirds of the price of a car was influenced by high taxes and exchange rate value.…

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Allocation of gas to new LNG terminals opposed

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ISLAMABAD: The Petroleum Division has strongly opposed the proposal of Maritime Affairs Division for allocating the existing capacity in gas pipeline to the upcoming two new liquefied natural gas (LNG) terminals at Port Qasim, Karachi, saying that they should “come online first”. “These new terminals are only on paper and no construction work has yet been initiated,” the Petroleum Division officials apprised the members of the Cabinet Committee on Energy (CCoE) during a meeting on Monday. They said the suggestion was against third party access rules that allow private parties to market…

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Over $50 billion in gas and LNG projects at risk of cancellation in Bangladesh, Pakistan and Vietnam

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Emerging markets such as Vietnam, Pakistan and Bangladesh that are turning to liquefied natural gas (LNG) as a source of power are likely to be hit by higher and more volatile prices going forward, according to a new briefing note from the Institute for Energy Economics and Financial Analysis (IEEFA). Author of the note LNG/gas analyst Bruce Robertson says new gas-fired power plants and LNG import facilities totalling over US$50 billion are at high risk of cancellation as gas-fired electricity becomes unaffordable in emerging markets. “Asian LNG spot prices have…

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Local POL production increases by 1.50pc during July-November

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ISLAMABAD: Overall production of petroleum commodities has witnessed an increase of 1.50 percent during the first five months of current financial year 2020-21 as compared to corresponding period of fiscal year 2019-20. POL products that showed positive growth include Kerosene Oil the production of which increased by 3.76 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported. Similarly, the production of Motor Spirits, High Speed Diesel, Furnace oil, Jute Batching Oil and Liquefied Petroleum Gas witnessing increase of 16.13 percent, 7.16 percent, 0.97 percent, 5.85 percent and…

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Energy supply chain & SNGPL

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Pakistan is stuck in the quagmire of circular debt since the past more than a decade. This factor has proven to be a major retarder of the performance of the power sector.As per a recent media report, the circulardebt of the petroleum supply chain has also growninto a monster accumulating to1.6 Trillion PKR. It appears that managing the spiral would continue to be a challenge for the economy until it is interrupted by some radical measures. The situation is after all getting more and more fragile and unsustainable. The economy…

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