Month: March 2022

The Price Differential Claim (PDC) on high speed diesel (HSD) and Petrol has reached to Rs 34.92 and Rs 23.43 per litre respectively as the government has decided to keep the prices of petroleum products unchanged for the last fortnightly of March (March 16-31) “In line with decision of the prime minister in the last fortnightly review, the petroleum product prices to remain unchanged despite abnormal price increase in international market,” said a statement issued by Finance Division here Tuesday. “Subsequently, to keep the prices at the existing level, government…

Read More

The government has reportedly failed to convince Chinese government to restart suspended work on 300MW coal-fired power project at Gwadar as M/s Sinosure, Chinese loan insurance company, is unwilling to cover governmental breach risk under the medium and long term buyer credit insurance largely due to delayed payments to CPEC IPPs and delay in opening of revolving account, sources close to Managing Director Private Power and Infrastructure Board (PPIB). Sharing the details, sources said, PPIB is processing a 300MW imported coal power project at Gwadar, Balochistan by CIHC Pak Power…

Read More

The country’s economic managers are claiming that the economy is now at a sustainable growth trajectory and a post Covid pandemic turnaround stands well and truly achieved. Well, to be honest they have a fair point, as exports are growing and corporate turnovers and profits results are depicting perhaps some historically best numbers. The recent financial figures from almost all LSM sectors have been robust and a few turnover transformations have been absolutely amazing. For example, only in last week’s reporting, I was reading that Attock Refinery, from being a…

Read More

As the burden of the price differential needed to be absorbed by the government following the announcement of a petroleum relief package by Prime Minister Imran Khan increases by the day, the Economic Coordination Committee (ECC) of the cabinet on Tuesday approved another Rs12 billion for oil companies, taking the total expenditure on such products to Rs32bn this month alone. The meeting of the ECC presided over by Finance Minister Shaukat Tarin also approved the Ramazan Relief Package worth Rs8.3bn, under which 19 kitchen items would be supplied at subsidised rates through…

Read More

Federal Minister for Energy Hammad Azhar held a meeting with Mr. Shixin Chen, Vice President (operations) for Asian Development Bank (ADB) at Ministry of Energy today. Both sides broadly discussed the ADB’s energy program in Pakistan, Government’s energy reforms. Minister lauded ADB’s support in pursuing reforms agenda and various development projects for the country. He expressed satisfaction on the firm commitment of ADB as key partner in reforms agenda in priority sectors including energy. Various projects in power sector are moving forward with good pace including the Advance Metering Infrastructure…

Read More