Year: 2022

Federal Finance Minister Miftah Ismail on Tuesday hinted that if the power sector is not run properly, it could sink the country’s economy. Addressing a ceremony in Islamabad, he said that Pakistani people have appreciated the budget, adding that debt servicing and power sector subsidies are largest cause of excessive budget expenditure. The Finance Minister further said that circular debt of power sector is 2500 billion and debt of gas sector is 1500 billion while debt of energy sector has reached 4000 billion, this year subsidies of 1100 billion have…

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Federal minister for power Engr. Khurram Dastgir Khan held a meeting with Minister of energy Sindh Imtiaz Sheikh here today. It is decided to create a working group between federal and Sindh Government to determine modalities of provincialization of HESCO and SEPCO. It is very unfortunate that the inability of previous government to even add 1 Megawatt of electricity in the system has pushed the country into this crisis. Government has decided to shift imported coal based plant on Thar coal. Sindh energy minister assured full cooperation in Thar power…

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By the Grace of Almighty Allah, the Joint Venture of Guddu Block Comprising Oil & Gas Development Company Limited (OGDCL) as Operator (70 %), SEPL (13.5 %), IPRTOC (11.5 %) & GHPL (5 %) has discovered Gas from an Exploratory well namely Umair South East # 01, which is located in District Ghotki, Sindh Province. Umair South East # 01 was spudded-in 09th May, 2022 as an exploratory well to test the hydrocarbon potential of Pirkoh Formation and Habib Rahi Limestone (HRL) to planned depth of ±785m into HRL. The…

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On June 14, NEPRA conducted a public hearing over the petition submitted by K-Electric on Fuel Charges Adjustments (FCA) for April 2022 and Quarterly Adjustments for January to March 2022. KE had requested an increase of PKR 5.30 in power tariff on account of FCA for April. On the other hand, KE had requested an increase of PKR 3.89 rupees on account of Quarterly Adjustments. According to the spokesperson of the power utility, the Impact of quarterly adjustments is usually not passed to consumers under the uniform tariff policy applicable…

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Taxation to the public to pay back the loans consumed by the elite; has been the approach in preparing budgets since the ‘Debt Trap’ was laid in October 1958. Various terms like; ‘Awam Dost’, and ‘Tax-Free’ are used to bluff the public. Budgets are then followed by ‘Mini Budgets’ to further burden the masses and then the stampede to get rid of the unspent public money before the June 30 deadline. It’s a total financial mess out there that continues unabated. The 15% rise in the salaries of the non-performing…

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