Day: January 17, 2023

With SBP reserves at approximately $4 billion, time is not far when there would be widespread shortages of essentials, if there are no inflows of dollars with IMF on board. On top of the list is energy products – especially petroleum. The country has stocks of around 30 days of diesel (HSD) and 18 days of petrol. Then there are plans for imports by refineries and OMCs – the L/Cs are opened for another 15-20 days. This would mean the country is covered by 4-5 weeks of petrol and 6-7…

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 Petroleum Division has asked M/s Fauji Kabirwala Power Company Limited (FKPCL) to get consent of PPIB for supply of gas to its plant from Mari Petroleum Company Limited (MPCL). The decision was taken under the chairmanship of the Secretary, Petroleum Division, to deliberate the issues related to supply/ allocation of gas/RLNG to FKPCL’s power plant. The meeting was attended by the representatives of Power Division, FKPCL, CPPA, PPIB, MPCL and SNGPL through video link) and officials of Petroleum Division. Director General (Gas) gave the background of the issues related to…

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The Ex-Wapda Discos (XWDiscos) have caused a loss of Rs292 billion during financial year 2021-22 to the national exchequer on account of T&D losses and less recoveries, as NEPRA has termed the performance of power distribution companies throughout FY 2021-22, saying that under the given circumstances, the existing Discos set up would not be able to deliver. In its performance evaluation report of the XWDiscos and Thermal Power Plants for FY 2021-22, released here by NEPRA, said that the number of fatalities both for employees and public occurred in all…

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The government has reportedly prepared three different financing structures to provide E-Bikes to interested persons, to be finalized after final approval of Economic Coordination Committee (ECC) and Federal Cabinet, well informed sources told Business Recorder. A high level meeting presided over by Prime Minister has directed Ministry of Industries and Production to finalize the policy for local manufacturing of E-Bikes latest by March 1, 2023. M/o Industries & Production shall in consultation with Finance Division and Revenue Division decide the timeline for 100% production of E-Bikes and provision of allied services.…

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France will provide a loan of 28.5 billion rupees (120 million euros) for the Khayal Khor hydropower project, a 128 MW facility located in the city of Patan in Khyber Pakhtunkhwa (KPK). A press release issued by the French Embassy said that a financial agreement was signed between the two governments in Islamabad on Monday. The agreement was signed by Secretary, Department of Economic Affairs (EAD) Dr. Kazim Naij, French Ambassador to Pakistan Nicolas Guille and Country Director of the French Development Agency (AFD) Philippe Steinmetz. The concessional loan from…

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