Month: June 2022

Prime Minister Shehbaz Sharif has said the federal government has allocated over Rs100 billion for various development projects in Balochistan under the Federal Public Sector Development Programme (FPSDP). During his day-long visit to the port city of Gwadar on Friday, the premier witnessed the signing of a memorandum of understanding (MoU) between Indus Hospital Karachi and Gwadar Development Authority (GDA). Under the MoU, the Indus Hospital Karachi would take control of the GDA’s 150-bed hospital in Gwadar. PM Shehbaz said that the incumbent government is committed to bring Balochistan at…

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Pakistan, facing severe natural gas shortage over the last few years, is growing its dependence on liquefied naturalgas (LNG). The government needs to explore alternative energy sources to save the environment as well as spending on LNG imports. It should consider transitioning to green energy options like solar and wind that can provide cheap and environment-friendly energy sources to the consumers. These were the findings of two reports “Gas Monitor – Pakistan” and “Tabeer LNG Terminal, Socio-Economic and Environmental Analysis”, launched on Friday by a civil society organisation – the…

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After getting a muted response from bidders to purchase spot LNG in three attempts except for one bid at $39.8 per MMBTU for July, Pakistan LNG Limited (PLL) has received another blow as Italy-based LNG trading company ENI once again backed out of its term cargo, scheduled for delivery on July 8, 2021. “The ENI also defaulted in May 2022 and has done that again for July’s supply at a time when Pakistan LNG Limited (PLL) has failed to acquire four cargoes from the spot international market,” senior officials of…

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The National Electric Power Regulatory Authority (Nepra) on Friday notified Rs5.27 per unit additional fuel cost adjustment (FCA) to K-Electric to be charged to consumers for electricity they consumed in April. This will help the Karachi-based private utility to mop up an additional amount of Rs10.16bn from consumers in upcoming billing month of July. The FCAs shall be applicable to all the consumer categories except lifeline consumers, Nepra said. “The authority has approved FCA of Rs5.2718/kWh for April having an impact of Rs10,157 million, to be recovered in the bills…

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Pakistan has decided not to accept the single bid for LNG cargo it received for delivery in July at a record $39.8 per million British thermal unit (mmBtu) for being too expensive and unaffordable amid rising electricity prices and shortages. Therefore, Pakistan would have again only 8 LNG cargoes of about 800 million cubic feet (mmcfd) in July — all under Qatar’s long-term contract. On the last day for bidding on Thursday, Pakistan did not get any bids for three LNG slots for first three weeks of July but received…

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