Pakistan Institute of Development Economics’ Power Commission has asked the government to conduct a forensic audit of Independent Power Producers (IPPs) in the wake of alleged inflated and fraudulent charges secured from the national exchequer. The PIDE’s Power Commission on Tuesday launched a book titled “Power Sector: An Enigma with No Easy Solution” It stated forensic audit of both public…
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Asia’s 10 ppm sulphur gasoil margins surged by more than 13% on Tuesday, helped by weather-related supply concerns in the US market, stronger oil futures and firmer demand expectations after China eased COVID curbs. Gains were curbed by uncertainty in China’s export volumes, pending the release of export quotas for 2023. Refining margins for 10 ppm sulphur gasoil rose to…
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Pakistan Institute of Development Economics (PIDE) Power Commission has said that Pakistan had suffered a lot because of the energy crisis for many years and the country has incurred massive losses of more than Rs5 trillion. Pakistan Institute of Development Economics (PIDE) on Tuesday launched a book ‘Power Sector: An Enigma with No Easy Solution’ which has called for forensic…
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The import of gas from Russia is still a distant dream for Pakistan despite the two countries’ willingness to play ball. Analysts say the renewed discussion around gas imports from Russia won’t amount to much — at least in the short term — for two reasons. One, lack of infrastructure to handle gas imports; and two, inadequate capacity in the…
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The National Electric Power Regulatory Authority (Nepra) on Tuesday slashed the power tariff by Rs3.60 per unit for the agriculture consumers under the Prime Minister Kissan Package 2022. A notification issued by the power regulator maintained that the basic tariff for agri consumers had been reduced to Rs13 per unit from Rs16.60 per unit at the request of the Ministry…
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Climate-induced calamities are one of the biggest driving forces behind the move towards alternative sources of energy. For a developing country like Pakistan, costs associated with climate change can be unbearable. The recent floods that swept through the country inflicted more destruction than was ever imagined. They also contributed significantly to the economic downfall with the estimated cost of damages…
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Russia’s budget deficit in the coming year might exceed the expected 2% of GDP as the oil price cap hurts export income, the country’s Finance Minister Anton Siluanov said on Tuesday. This marks the first time a Russian official has acknowledged that the $60 per barrel price cap imposed on Russia by Europe and G7 nations will negatively impact its economy. Siluanov…
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Iran has long held enormous political, economic, and military sway over neighbouring Iraq through its various military and political proxies, and since the discovery of vast reservoirs of oil in Iran first in the early 1900s and shortly after in Iraq, Tehran has an added incentive to retain this influence and to enhance it. With Iran’s longstanding former superpower ally,…
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Natural gas output in the Appalachia region, the top gas-producing basin in the U.S., dropped by a record amount as Winter Storm Elliott swept through Pennsylvania and Ohio, freezing wells and some equipment and creating mechanical issues at pipeline infrastructure. The Appalachia basin saw natural gas supply drop by 27%, or by 9 billion cubic feet, compared to the typical…
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