Year: 2022

ECC okays Rs55.48bn for PDC payments

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Amid the Ministry of Finance’s protest over ‘unsustainable fuel subsidy’, the Economic Coordination Committee (ECC) approved Rs55.48 billion for immediate reimbursement of price differential claims (PDCs) to the oil industry at cheaper rates of petroleum products than their costs for the first half of May. The ECC meeting, presided over by Federal Minister for Finance & Revenue Miftah Ismail, also allowed the Trading Corporation of Pakistan (TCP) to explore the possibility of importing 200,000 tonnes of urea on a G2G basis and on deferred payment, said an official statement. Besides…

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HSD and MS Sales Of May 2022 First Fortnight Recorded 363,667 MT and 363,210 MT Respectively

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Oil Companies Advisory Council (OCAC), the primary representative of Pakistan’s downstream oil industry, has issued the sales numbers of High Speed Diesel (HSD) and Motor Spirit (MS) for the first fortnight of May 2022. The cumulative sale of HSD for the first fortnight was 363,667 MT, whereas the sale of MS stood at 363,210 MT. Expressing his concerns, Waqar Irshad Siddiqui, Chairman OCAC said, “The Downstream Oil Sector of the country has always remained committed to the interests of the country and the people. This is evident from the fact…

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KE accused of producing power through ‘inefficient’, ‘expensive’ plants

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The National Electric Power Regulatory Authority (NEPRA) has declared that K-Electric is generating electricity from ‘expensive and inefficient’ plants —— like Unit-3 of the Bin Qasim Power Station-1 (BQPS-1) —— with the impact of additional cost being reflected in the monthly Fuel Charge Adjustment (FCA) of Karachi-Electric Limited (KEL). Also, the delay in meeting the commercial operation date (COD) for BQPS-IlI and the subsequent interim utilisation of the inefficient Unit-3 of BQPS-I are due to the poor performance of KEL, says the regulator. The consumers should not be charged for…

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China Warns NATO Not To Interfere In Asia

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China increasingly sees the war in Ukraine — and the roles of the United States and its NATO allies in backing Kyiv against Moscow — as a reflection of future tensions to come between the military bloc and Beijing in the Indo-Pacific. Ever since Russian tanks first crossed into Ukraine on February 24, Beijing has walked an awkward line between not giving outright support to Moscow’s invasion while accusing the United States and other NATO countries of provoking the war by allowing the security alliance to expand eastward despite protests…

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America’s Electric Grid Has A $2 Trillion Problem

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power

Getting America to reach the goals of zero-carbon electricity generation by 2035 and net-zero economy by 2050 with a surge in electric vehicle transportation and renewable power installations will require massive investments in outdated power transmission lines and building thousands of miles of new lines. The undertaking is huge, and it’s so huge not only because the price tag for making the U.S. grid capable of handling a net-zero economy is estimated at a couple of trillion dollars. Permitting, regulation and uncertainty over who is and should be in charge…

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