Year: 2022

With receivables of the state-run Pakistan State Oil (PSO) already at a backbreaking Rs600 billion record and counting, the Petroleum Division has reported a gross liquidity requirement of about Rs1.98 trillion for the first quarter of the next fiscal year beginning July 1 for fuel imports to minimise the prevailing loadshedding. The PSO and Pakistan LNG Limited (PLL) are importing liquefied natural gas (LNG) to minimise the shortfall in the demand and supply of gas. Re-gasified LNG is supplied by the Karachi-based Sui Southern Gas Company (SSGC) and Lahore-based Sui…

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The National Electric Power Regulatory Authority (Nepra) on Wednesday allowed 42 paise per unit increase in average tariff of distribution companies (Discos) of Wapda under quarterly tariff adjustments (QTA) for January-March. The decision was taken at a public hearing presided over by Nepra chairman Tauseef H. Farooqui. The higher rate would be charged to consumers for three months and would be replaced by QTA for 4th quarter (April-June). Nepra would issue a formal notification over the next few days after verification of documents and invoices provided by the power companies.…

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Rimini/Bonn/Roma, 15 June 2022 – The world has substantially accelerated wind power deployment, with more than 100 Gigawatt being installed worldwide in 2021. Climate change and the latest geopolitical crises have underlined the need to accelerate these deployment rates, together with other renewables and complementary technologies, such as storage.  The end of June, wind energy experts from around the world will meet in Rimini (Italy) in order to develop further strategies on how to install wind farms even faster – be it onshore or as offshore installations in the sea.  Hon. Peter…

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Abdul Rashid, President, Site Association of Industry, Karachi, while expressing deep concern over the increase in prices of petroleum products by Rs 59, has demanded Prime Minister Shehbaz Sharif, Finance Minister Miftah Ismail and Minister of State for Petroleum Division Senator Musadik Masood Malik to withdraw hike in POL prices and another alternative solution must be found to cover the country’s deficit. In an appeal, SAI President said that the government always cares of IMF but the people of the country do not care. As a result of the increase…

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Mr. Shabbir Hassan Mansha, Acting President FPCCI, has expressed his shock and awe at the astronomical increase in the prices of petrol and diesel. Increase in petrol price by Rs. 24.03per liter will crush the masses and Rs. 59.16per liter in diesel price will have a multiplier effect on goods transportation costs; which will drive the commodities and food supplies prices even further, he added.Acting FPCCI Chief maintained that it is imperative to weigh in the impact of the prior petroleum prices as well; because even before the latest increase…

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