Month: August 2022

Pakistan and Iran will hold a two-day Joint Economic Commission (JEC) meeting on August 17-18 to discuss wide range of issues except starting of formal banking system due to opposition by the State Bank of Pakistan. The sources said, both sides will discuss the possibility of bilateral trade, Free Trade Agreement (FTA), removal of tariff and non-tariff barriers under Preferential Trade Agreement (PTA), and to hold a Joint Business Council (JBC) meeting. Both sides will discuss Customs cooperation-declaration of Rimdan Border as designated TIR border for International Transit Trade, removal…

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The Sui Southern Gas Company (SSGC) has reported a drop of 30 million cubic feet per day (mmcfd) in supplies to Sindh and Balochistan after a field developed technical fault, which is expected to increase the duration of load-shedding in both the provinces.“It will take over one month to manage the situation,” according to a statement issued by the gas supplier on Friday. “Naimat Basal Gas Field is currently confronted with a technical problem due to which gas supply to SSGC has been reduced by 30 mmcfd,” the SSGC said…

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In a major development, the government plans to use indigenous Thar coal, instead of imported coal, for generation of 3,960MW. The three power plants that would be shifted to indigenous coal are Sahiwal Coal Power (Sahiwal), China Hub Coal Power (Hub) and Port Qasim Coal (Port Qasim, Karachi), each of 1,320MW installed capacity. It is indeed a landmark and timely decision since when implemented it would reduce reliance on costly imported coal, and bring down electricity rates, resulting in energy security and overall economic development. Various measures have already been…

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Power Sector’s Transmission , According to Pakistan Institute of Development Economics (PIDE)’s One Year Growth Strategy for Pakistan, energy is a chronic problem that eight governments have not been able to solve. Due to mismanagement and weak governance in the power sector, huge transmission & distribution losses reached Rs. 473 billion during 2021, out of which Rs. 402 billion were recovered through tariff from the electricity consumers and Rs. 71 billion was added to circular debt. Pakistan Institute of Development Economics (PIDE) has launched the “One Year Growth Strategy for…

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The present government’s priorities are to increase GDP growth to 6-7% in the medium term, improve investment climate to attract domestic and foreign investment, promote tourism and information technology, and set up Special Economic Zones (SEZs) for export promotion. This was stated by Finance Ministry in the “75 years’ economic journey of Pakistan” released by it on Saturday to commemorate 75th Independence Day. Finance ministry added that the incumbent government also aims to take proactive measures for import substitution and employment generation, introduce a paperless working environment in offices, and…

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