Year: 2022

Countries should move from coal to renewable energy without shifting to gas as a “transition” fuel to save money, as high gas prices and market volatility have made the fossil fuel an expensive option, analysis has found. Natural gas has long been touted as a “transition” fuel for economies dependent on coal for their power needs, as it has lower carbon dioxide emissions than coal but requires similar centralised infrastructure, and gas-fired power stations take only a couple of years to build. Earlier this year, before Russia invaded Ukraine, the…

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The consumption of petroleum products continue unabated as the petroleum product prices remain frozen. After 23 percent in March 2022, the petroleum products sold by the oil marketing companies in April 2022 were up by 25 percent year-on-year. The growth was largely led by furnace oil that increased by over two times in April 2022 versus April 2021, while motor gasoline and high-speed diesel also witnessed double digit growth of 10 and 13percent year-on-year, respectively. The month-on-month growth of petroleum products’ consumption was also over 15 percent but was however…

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Federal Minister for Power Engineer Khurram Dastgir Khan said on Monday that electricity tariff would go up for the time being due to high international oil prices. “We are facing a critical situation and Prime Minister Shehbaz Sharif has asked to look out ways as to how a revolutionary reduction could be made to the non-development expenditures before asking the people to sacrifice”, he said while responding to a query at a press conference at the Lahore Electric Supply Company (Lesco) headquarters. Additional Secretary (Power Division), Musaddiq Ahmed Khan Tahirkheli…

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Ministry of Finance (MoF) has urged the Power Division to clear Tariff Differential Subsidy (TDS) claims with all codal formalities in place to avoid late payment surcharge (LPS) and other issues of Karachi Electric (KE). According to Finance Ministry, for the CFY 2021-22, Rs.56 billion has been earmarked on account of Tariff Differential Subsidy (TDS) KE under Power Division’s demand, whereas Rs.5.138 billion has been additionally provided to KE under the Prime Minister’s Relief Package of Rs.5/kWh, totalling Rs.61.138 billion. An amount of Rs.15.620 billion has been released by Power…

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With more than Rs300 billion in stuck up dues, more than two dozen Chinese firms operating in Pakistan on Monday said that they would be forced to shut down their power plants this month unless payments were made upfront. This was the overwhelming theme of a meeting presided over by Minister for Planning and Development Ahsan Iqbal with more than 30 Chinese companies operating under the flagship multi-billion-dollar China-Pakistan Economic Corridor (CPEC) in various areas including energy, communication, railways and others. There was a plethora of complaints, including those relating…

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