Year: 2022

Fauji Oil Terminal and Distribution Company (FOTCO) has plans to invest in developing six buffer storage tanks to address ship traffic congestion at Port Qasim and handle additional cargoes. “We have already pitched this plan to Oil and Gas Regulatory Authority (OGRA) seeking finalisation of pricing mechanism,” Adnan Samdani, General Manager of FOTCO told The News in an exclusive interview on Sunday. “Once it is settled, FOTCO will be able to finalise the volume of investment required to build the buffer storage tanks to handle the fuel ship carrying 50,000…

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Is the China-Pakistan Economic Corridor (CPEC) going as planned? Since it was launched in 2013, the flagship project of the Belt and Road Initiative (BRI), has been under the watchful eye of regional and global powers, and an occasional target for terrorists. Pakistan has hinged its economic progress on the rapid implementation of CPEC. Initially valued at $47 billion, the value of CPEC projects was worth $62 billion as of 2021. Since 2018 onwards, however, it was not been smooth sailing under the PTI government as far as work on…

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Two refurbished units commissioned with USAID’s grant Islamabad, May 23, 2022: Pakistan Water and Power Development Authority (WAPDA) has successfully commissioned generating units No. 5 and 6 of the Mangla Hydel Power Station, recently refurbished with the financial support of United States Agency for International Development (USAID). With refurbishment, installed generation capacity of each unit has increased to 135 (Mega Watt) MW from 100 MW – with cumulative increase of 70 MW from 200 to 270 MW.USAID Mission Director Julie A. Koenen accompanied by her team witnessed commissioning of the…

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Amid rising oil consumption and import bill owing to higher international prices, the government is examining the possibility of fuel conservation through reduced working days a week. It hopes to save an estimated annual foreign exchange of up to $2.7 billion. The estimates are based on three different scenarios in terms of working days and fuel conservation prepared by the State Bank of Pakistan for foreign exchange saving of $1.5bn to 2.7bn. Pakistan’s total oil import during the first 10 months (July-April) of the current fiscal year (FY22) has gone…

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Marred by unusual low inflows in summer months, Tarbela Dam on Indus River may hit rock bottom early next week, further worsening the water shortage in the plains. Given the present pattern of low flows into Indus River, it is feared that the water level at Tarbela Dam may attain dead level by May 25, 2022. Such an eventuality will further squeeze flows downstream and curtailing drinking water supplies, further adversely affecting the standing crops as well. This year, on March 20, 2022, water storage in the Tarbela Dam also…

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