Month: June 2022

Former federal minister and Pakistan Tehreek-e-Insaf (PTI) leader Umer Ayub said on Saturday that their government left had left the price of electricity at Rs 16 per unit that would shoot up to Rs 40 per unit next month, while the petrol price would soar to Rs 310 per liter. Addressing a press conference flanked by former finance minister Shaukat Tarin and former spokesperson for ministry of finance Muzzamil Aslam, he said that according to the Oil and Gas Regulatory Authority, the electricity bills of poor people will increase 400…

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Pakistan can achieve substantial savings due to policies favouring Hybrid Electric Vehicles (HEVs). The country can save approximately $779 million per annum if 40 percent of vehicles are converted into Hybrid Electric Vehicles (HEVs). Around 19 percent of total imports by Pakistan are petroleum products and it is the largest sector that consumes huge foreign exchange. According to an estimate, Pakistan imports $4.6 billion worth of petrol and diesel and $3.2 billion worth of crude oil for refineries. It is expected that in the financial year 2022 the imports will…

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Pakistan continues to face a serious electricity crisis for the last three weeks or so, as load shedding has intensified across the country. The power deficit in the National Transmission & Despatch Company (NTDC) network is currently recorded at over 7,000MW, and the power supply-demand gap is likely to widen in the coming days due to fast-growing demand for electricity on account of hot weather conditions, and delays in supply of fuels. The masses — already over-burdened with highly inflated electricity bills — must brace with 8 to 10-hour load-shedding…

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The government on Friday allocated funds amounting to Rs1.480 billion in the Public Sector Development Programme (PSDP) for the year 2022-23 to advance nine ongoing petroleum sector projects. According to the budgetary documents, the incumbent government earmarked another Rs150.560 million for establishment of National Mineral Data Centre (NMDC)(Dte Gen of Minerals, Rs303.700 million for expansion and up-gradation of Pakistan Petroleum Corehouse (PETCORE) for its sustainable operations to facilitate oil and gas exploration research in Pakistan (HDIP), Rs100 million for Geological Mapping on 50 Toposheets, out of 354 unmapped Toposheets of…

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Pakistan’s electricity generation capacity increased by 11.5% and reached 41,557 megawatts in July-April 2021-22 compared to 37,261MW in the same period of previous fiscal year, revealed the Economic Survey of Pakistan 2021-22. The hydel energy share in the total installed capacity marginally fell to 24.7% year-on-year during the first 10 months of FY22. The contribution of re-gasified liquefied natural gas (RLNG) to the total power generation increased to 23.8% from 19.7% last year. Coal’s share remained the same, although the installed capacity went up from 4,770MW during July-April FY21 to…

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