Year: 2022

Oil and Gas Regulatory Authority (OGRA) on Tuesday directed all Oil Marketing Companies (OMCs) to ensure adequate fuel stocks at their petrol pumps across the country aimed at avoiding any inconvenience to consumers. “There is no price increase in petroleum products. Moreover, the country has more than sufficient stocks available,” OGRA spokesman Imran Ghaznavi said in a brief press statement. The statement came after long queues were witnessed at petrol pumps amid speculations of an increase in the prices of petroleum products by Tuesday night.

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The National Electric Power Regulatory Authority (Nepra) has taken a landmark decision by granting the market operator licence to the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) in order to break the monopoly of power distribution companies. The idea of Competitive Trading Bilateral Contract Market (CTBCM) was floated around 30 years ago in 1992 to split the power sector for improving the services of distribution companies. The CTBCM is aimed at introducing competition in the electricity market where multiple sellers and buyers will trade electricity, says a statement issued on…

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K-Electric has requested the National Electric Power Regulatory Authority (Nepra) to increase power tariff by Rs4.86 per unit on account of fuel cost adjustment (FCA) for April 2022. In its petition, the private power utility pointed out that the major impact on the monthly FCA came from the increase in prices of furnace oil and the rise in cost of electricity purchase from the Central Power Purchasing Agency-Guarantee (CPPA-G). The price of furnace oil increased 22% in April 2022 compared to the previous month. Similarly, the price of electricity purchase…

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Chief Secretary Sindh, Dr. Muhammad Sohail Rajput, has assured the industrialists of SITE area to look into the matter of gas being produced from Ghotki gas filed, and provided to SNGPL whereas Sindh has the first right of use on the gas produced in the province as per constitution. He has also assured to strive to enhance the development budget of SITE Limited (the administrative body of SITE area Karachi) in the forthcoming budget. He was addressing members of SITE Association of Industry on the occasion of his visit. He…

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The anxiety in the currency market is growing again. PKR/USD after peaking at 202 in the last week, started coming back down, trailing below 200 mark after the government swallowed the bitter pill and increased petroleum prices. But once again this week, the currency started depreciating and touched a new low of Rs203 to a dollar yesterday. This is despite the government inching towards the IMF review completion and $2.3 billion from China Development Bank is expected to arrive ‘very soon’. The issue is that the government and within it,…

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