Day: February 3, 2022

Pakistan needs structural transformation of economy: ADB

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Pakistan government will need to update its investment laws, reduce burdensome regulations, align them with global best practices, and structure the investment policy document accordingly, besides, synchronise its monetary, fiscal, and trade policies to promote a business-friendly trade environment, says the Asian Development Bank (ADB). The Bank in its report, Economic Corridor Development in Pakistan Concept, Framework, and Case Studies, stated that Pakistan’s high economic growth has been marred by quick and successive faltering episodes. To relax the balance of payment constraints on growth and sustain the high-growth episodes, Pakistan…

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Why Is New England Paying The Equivalent Of $180 Oil For Natural Gas?

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esterday New Englanders had reason to feel a little more … European than usual. that’s because according to Department of Energy data they were paying a spot price of $30.5 per million British thermal units for natural gas.  This is an absurd price, in line with what Europeans, facing their worst energy crisis in a generation, have been suffering in recent months. To put it in context, $30.5 per mmBtu is the equivalent of paying $180 for a barrel of oil (double what it is today), or 20 cents per kilowatt-hour for electricity. In…

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Petroleum products sale record 19 per cent growth in January

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Petrol-Price

The petroleum products sale registered a growth of 19 per cent on a year-on-year basis to reach 1.80 million tonnes in January 2022, a report issued by Arif Habib Limited showed. On a month-on-month basis, the sales of petroleum products showed a growth of 20 per cent, it added. The growth in sales is attributable to the massive growth in automobile sales resulting in higher demand of motor spirit (MS), along with the reliance of majority of the industries on high speed diesel (HSD) based captive power generation due to…

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Building resilient power structure critical for ‘resilient’ cities: KE CEO

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CEO K-Electric Moonis Alvi stated that renewable energy has to be integrated into the power sector in a way that adds versatility to the system, calling a resilient power network the “backbone of a resilient city. These comments were made while addressing a global virtual audience at the Future of Energy webinar titled “Strengthening Climate Action: Role of the Power Sector,” which also featured prominent thought leaders and industry experts including Malik Amin Aslam, Minister for Climate Change and Special Assistant to Prime Minister on Climate. The panel discussion was…

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Chinese firms introduce new tech in power sector

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powertariffs

Massive energy projects, executed by Chinese firms in Pakistan, not only ended power outages in the country but also introduced the most advanced technologies in the power sector. These include the underground hydropower projects as well as the ultra-critical coal-fired power plants. In 2018, China Gezhouba Group Corp (CGGC) completed the construction of first-ever underground powerhouse in Pakistan, ie Neelum-Jhelum hydropower plant in Azad Jammu and Kashmir. The 969-megawatt run-of-river project was a construction challenge due to caverns and tunnels in the not-so-solid and ever-active Himalayan mountain range. The project…

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