Month: November 2023

Govt may hike gas prices by another 10-15pc to slash circular debt

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gas-supply

ISLAMABAD: Knowing the fact that this time the government will collect revenue of Rs980 billion in the ongoing FY24 on account of the massive hike in gas prices by up to 193 percent, the IMF has still asked the government to further increase the sale price of natural gas from January 1, 2024 to slash the circular debt that currently stands at Rs1,250 billion. “The authorities are contemplating an increase in the natural gas sale price by 10-15 per cent, which will yield Rs100 billion additional revenue. It is to…

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Pakistan eyes BRICS membership, seeks Russia’s help

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Russian-crude

ISLAMABAD: Pakistan has applied for BRICS membership and sought Russia’s support, the country’s envoy to Moscow Muhammad Khalid Jamali has said. There has been no comment from the Foreign Office without whose approval Jamali (who is yet to present his credentials) would not have made this revelation. According to media reports, Jamali was talking to the Russian news agency TASS in which he revealed that Pakistan had filed an application to join the BRICS and was counting on Russia’s assistance. Jamali said Pakistan had already applied for membership of the…

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Economist terms energy sector ‘black hole’

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power-sector

ISLAMABAD: Dr Hafeez Pasha, former finance minister, Wednesday, while identifying key areas which undermine human security in Pakistan has said that the black hole in Pakistan’s economy is the energy sector, due to unbelievable levels of line losses and rising energy prices. He said this while speaking at the launch of his report titled, “Human Security in Pakistan” on the second day of the 26th Sustainable Development Conference (SDC) organised by the Sustainable Development Policy Institute (SDPI). Dr Pasha said that security must be analysed keeping in view of the…

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Questions raised over Rs510bn transmission plan

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Power-control

ISLAMABAD: Almost all the provinces and distribution companies as well as the power regulator have raised questions over the revised Rs510 billion investment plan for transmission system to be implemented by the National Transmission and Despatch Company (NTDC) over three years (2023-25). Similar objections were raised by provinces in January this year over insufficient allocations for evacuation of power from their priority power plants when the NTDC had proposed an investment outlay of about Rs370bn for the same (2023-25) period. The plan was subsequently returned to the transmission system operator…

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OGDCL SUCCESSFULLY COMPLETES KHEWARI DEVELOPMENT ​​PROJECT WITH FAST-TRACK STRATEGY:

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OGDCL

ISLAMABAD: While adopting a strategic fast-track strategy, the Oil & Gas Development Company Limited (OGDCL) has successfully completed the Khewari (Suleman 1 & 2) Development Project. The Khewari Development Project has potential of 10 million standard cubic feet per day (MMSCFD) which is being processed at the Sinjhoro Plant in the Sanghar district of Sindh province. Currently, the wells are undergoing choke optimization process to further enhance gas supply.To expedite the project, OGDCL implemented a fast-track strategy, ensuring swift processes and timely delivery. This included laying a 6-inch diameter pipeline…

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