Year: 2022

Following a hike in global oil prices, and the unavailability of LNG, the government has decided to revive revoked petroleum exploration licences and extend their validity period to boost exploration and production of indigenous gas to ensure long-term energy security. The government has received over 18 applications to extend the validity of exploration licences. Since 2015, Pakistan has relied on imported LNG to fulfil its domestic needs. Countries usually import six to seven percent of their total energy needs as a stop-gap arrangement to meet demand. When Pakistan started relying heavily on…

Read More

Shehbaz Sharif has said Islamabad should not be forced to go out with a “begging bowl” to wealthy nations responsible for about half of all greenhouse gas emissions after the floods devastated a third of Pakistan, arguing that he’d rather seek “climate justice” from the global community. In the second part of his interview published in The Guardian on Thursday, the prime minister warned that Pakistan is facing an unprecedented crisis of health, food security and internal displacement after the “apocalyptic” monsoons put a third of Pakistan’s land under water.…

Read More

The Executive Committee of National Economic Council (ECNEC) Friday accorded approval to 13 projects with estimated cost of around Rs598.13 billion.The Chashma Right Bank Canal project with estimated cost of Rs189.6 billion is among the approved projects. Federal Minister for Finance and Revenue Senator Ishaq Dar chaired the meeting, while Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Federal Minister for Commerce Syed Naveed Qamar, Finance Minister Khyber-Pakhtunkhwa Taimur Saleem Khan Jhagra, Finance Minister Govt of Punjab Mohammad Mohsin Leghari, Senator Nisar Ahmed Khuhro, federal secretaries and other…

Read More

Government’s move to deregulate the petroleum prices has apparently hit a snag as there has been no progress on the terms of references (ToRs) in this regard, industry officials said. The cut-off date for deregulation of petroleum prices was November 1, 2022, but the ToRs have not been finalised yet. A major reason for the slowdown in the deregulation process has been the change at the Finance Ministry, with the helm of affairs given to Ishaq Dar, the new finance minister of Pakistan. “Former Finance Minister Miftah Ismail was ready…

Read More

Minister for power met the representatives of State Grid China. In line with the vision of Minister Khurram Dastgir Khan, SGC has shown interest in developing advance metering Infrastructure(AMI) for DISCOs in Pak. SGC has already installed 500 million AMI meters in China ,5 million in KSA.Minister for power applauded the professionalism of State Grid China company that has installed 4000 MW HVDC Matiari Lahore transmission line. The project is a milestone in diversification of national grid with maiden addition of HVDC technology.

Read More