Month: August 2022

Descon records high growth in revenues

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Pakistan’s leading large-scale engineering company, Descon Engineering Limited (DEL), recorded significantly high growth in revenues on the back of major projects in domestic and overseas geographies as per its FY 2021-22 performance indicators. DEL engineered equipment for the Oil and Gas sector in Qatar, Iraq, Bahrain, UAE, Oman, Eastern Europe and Pakistan. It also engineered equipment for refineries in Saudi Arabia, Bahrain, UAE, Yemen, Oman and Russia. The company’s engineering services arm, Descon Engineering Services and Technology (DEST), also performed well in serving clients in Saudi Arabia. Buoyed by its…

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Ogra Cuts Imported RLNG Prices By Up To 2.92 Percent

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Oil and Gas Regulatory Authority (OGRA) on Monday slashed the prices of imported Re-gasified Liquefied Natural Gas (RLNG) by up to 2.92 percent for the consumers of Sui Southern Gas Company Limited (SSGCL) and Sui Northern Gas Pipeline Limited (SNGPL).As per the notification issued by the Oil and Gas Regulatory Authority (OGRA) for the month of August, the price of RLNG for Sui Northern Gas Pipeline Limited (SNGPL) has been reduced by $0.5107 per Metric Million British Thermal Unit (MMBtu), while for the Sui Southern Gas Company Limited (SSGCL) it…

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Pakistan’s coal crisis looms large amid pending payments to Chinese plants

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Even after clear orders by Pakistani Prime Minister Shehbaz Sharif, the country’s government is unable to resolve the key issues being faced by Chinese imported-coal fired power companies as over Rs 350 billion overdue bills for these plants are an obstacle in coal purchase for Islamabad. This comes at a time when coal prices have increased manifold. Business Recorder quoting sources said that this overdue bill has crippled Pakistan’s ability to buy coal because the country is marred with a shortage of US dollars. One of the power projects namely,…

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Beware of the subsidy trap!

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Despite visible green shoots in the economy, the mounting political pressure seems to have pushed the government to the brink of once again falling in the subsidy trap and reversing all the gains, so painstakingly made, in the many last months. Things went out of control during the first three months of this regime for obvious reasons. The outgoing government, sensing its ouster, reduced the prices of petroleum products when the global markets were peaking. At the same time the power rates were reduced by Rs5/unit. Both concessions were granted…

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Electricity Shortfall Reaches 6,500mw

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The electricity shortfall in Pakistan has reached 6,500 megawatts (MW), causing power outages of four to six hours in cities and eight hours in rural areas.According to details, the demand in the country for electricity has surged to 28,500 megawatts while the power supply is 22,000 megawatts. The shortfall has resulted in four to six hours of power outages in urban areas and eight hours in rural areas. Sources said that several power plants have been shut due to shortage of oil and gas. Power plants in Neelum, Jhelum, Gadoon,…

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