Day: April 1, 2024

Federal Minister Leads Shift to Local Coal for Cheaper Electricity

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electricity-cheaper

Federal Minister for Energy, Sardar Awais Ahmed Khan Laghari, chaired a meeting focused on transitioning all power plants from imported coal to local coal sources. This initiative aims to reduce electricity costs and benefit consumers across the nation. During the meeting, Minister Laghari emphasized the importance of shifting power plants to locally sourced coal. He highlighted that this move will not only generate cost-effective electricity but also significantly reduce the country’s import bill. The Minister emphasized engaging all stakeholders to chart a comprehensive plan of action for a smooth transition…

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Govt to procure 24 LNG cargoes from Gunvor Singapore as demand surges

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Energy-Division

The government currently purchases spot LNG from 23 global companies, including Gunvor Singapore Ltd, through tendering and through long-term contracts from Qatar and Oman Highlights: Gunvor Singapore Pvt Ltd will deliver 24 cargoes of LNG in two years 12 cargoes this year, 12 next year, delivery is subject to demand Govt imported 54 LNG cargoes from spot market from Sept 2021 to Jan 2024 To address surging domestic gas demand, the government has decided to purchase 24 cargoes of liquefied natural gas (LNG) from Gunvor Singapore Pvt Ltd under a…

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Saudi Fund for Development Backs Hydro Power Projects in AJK

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AJK-Pak

Azad Jammu and Kashmir welcomed a delegation from the Saudi Fund for Development (SFD) as part of the Green Energy Drive, culminating in agreements for financing two Hydro Power Projects in the region. The Saudi delegation, led by the Fund’s CEO, Sultan bin Abdulrahman Al-Marshid, solidified agreements for the Shounter Hydro Project and the Jagran-4 Hydro Project. The Shounter hydro project, with an estimated cost of $66 million, is projected to generate 48 megawatts of electricity, while the Jagran-4 hydro project, costing $41 million, will yield 22 MW of electricity…

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Govt Increases Petrol by Rs9.66, Cuts Diesel Price by Rs3.32

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Petrol-price

The federal government of Pakistan has announced a significant increase in petrol prices by Rs9.66 per litre, bringing the new rate to Rs289.41 per litre, effective from April 01, 2024. In contrast, the price of high-speed diesel (HSD) has been reduced by Rs3.32 per litre to Rs282.24. The decision follows earlier speculation reported by Headline PK regarding a potential hike in petroleum product prices. The recent surge in petrol prices is attributed to a rise in the premium, increasing from $12.15 per barrel to $13.507 per barrel, marking a $1.45 per barrel…

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