The enthusiasm with which the federal government has declared a ban on luxury imports to deflate the import bill is absent in their ‘weak-kneed stance’ on reversing the fuel subsidies, which is equally critical not only to ease pressure on the economy, but also for the resurrection of a half-dead IMF loan programme. Will this import ban deliver the same…
Read More
The International Monetary Fund (IMF) has estimated that Pakistan requires Rs1,416 billion in subsidies for keeping the POL prices unchanged on an annual basis at the prevalent existing prices in the international market, so Islamabad will have to reverse fuel subsidies for achieving fiscal prudence. On electricity, the government requires subsidy of Rs139 billion on per annum basis. The IMF…
Read More
ork is in full swing on an emergency basis for the rehabilitation of the power sector and to cope with the current situation being faced by the sector. The LNG supply will not only improve the power supply in the country but also help the government overcome the power crisis. Federal Minister for Energy (Power Division) Khurram Dastgir said this…
Read More
As part of its “Power with Safety” drive, National Electric Power Regulatory Authority (NEPRA) on Friday organized a webinar on “Workplace Stress Management” in collaboration with Lahore University of Management Sciences (LUMS) and K-Electric. Jawad Syed, Professor of LUMS and Muhammad Taimoor Khan, head of HSE, K-Electric shared their ideas and skills to control stress, said a press release. Chairman…
Read More
With the change of Secretary Power Division and posting out of an Additional Secretary, the Board of Directors (BoD) of National Transmission & Dispatch Company (NTDC) seems to be in an intriguing hurriedness to announce key appointments of two deputy managing directors (DMDs) and rushing them for assumption of charge, said sources. According to the sources, the selection process for…
Read More
China added 2 million bpd to its crude oil inventories last month, Reuters’ Clyde Russell reported today, citing calculations based on official data. This means the world’s largest oil importer was buying more from abroad, although Russell noted that these purchases were most likely made months earlier, before Russia’s invasion of Ukraine in late February. Imports of crude in China averaged 10.47…
Read More
With the EIA reporting an almost 5-million-barrel stock draw in gasoline over the week ending May 13, with inventories dropping to levels last seen in December and completely ignoring the seasonal build-up trend, gasoline has become the talk of the US market. This week brought a long-anticipated breakthrough as even the last states to see gasoline prices below $4 per…
Read More
