Month: July 2024

SSGC Launches Rs3.86 Billion High-Pressure Pipeline to Boost Industrial Fuel Supply

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SSGC

KARACHI: Sui Southern Gas Company (SSGC) has initiated a Rs3.86 billion project to install a high-pressure pipeline aimed at enhancing fuel supply for industrial consumers in the western part of Karachi. This new development is designed to resolve persistent low-pressure gas issues affecting the region’s industrial sector. According to an official press statement, the 31-kilometer-long, 24-inch diameter pipeline extends from MVA ACPL to SMS Surjani. SSGC’s Managing Director, Imran Maniar, inaugurated the pipeline, noting that it will segregate low-pressure domestic and commercial consumers from high-pressure industrial consumers in the SITE…

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Pakistan Seeks Chinese Debt Restructuring Amid Rising CPEC Project Payments

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CPEC-IPPs

ISLAMABAD: On Thursday, Pakistan formally requested China to reschedule its debts as unpaid dues for China-Pakistan Economic Corridor (CPEC) power projects surged by 44%, reaching Rs401 billion by the end of the last fiscal year. These outstanding payments, violating the 2015 CPEC Energy Framework Agreement, are hampering financial and commercial relations between the two nations. Finance Minister Senator Muhammad Aurangzeb and Energy Minister Sardar Awais Laghari met with China’s Finance Minister and the President of China Export and Credit Insurance Corp (SINOSURE) to address the issue. SINOSURE had insured the…

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SIFC Supports Refinery Demands, Advocates Budget Measure Reversal

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Refinery-Limited

ISLAMABAD: The Special Investment Facilitation Council (SIFC) endorsed refineries’ demands on Thursday, backing the withdrawal of budgetary measures that threaten the closure of refineries and jeopardize a $6 billion plant upgrade program. In a high-level meeting attended by refinery representatives and officials from the Petroleum Division, Ministry of Finance, and Federal Board of Revenue (FBR), executives highlighted the negative impacts of sales tax exemptions for petroleum products. This exemption prevents refineries from claiming significant input tax refunds on purchases and services. Additionally, a 2% customs duty on imported equipment further…

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Chairman WAPDA Reviews K-IV Project Progress: 46% Completion Achieved

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WAPDA-Chairman

Rs. 59.5 Billion Spent; Phase-I Targeted for December 2025 Completion Chairman WAPDA, Engr Lt Gen Sajjad Ghani (Retd), visited the Greater Karachi Bulk Water Supply Scheme, K-IV, to review the construction progress at various sites, including intake works, pumping stations, pressurized pipeline, access road, project offices, and project colony. General Manager (Projects) South and Project Director Amir Mughal provided a detailed briefing on the contract-wise progress, timelines for remaining work, and plans to meet targets. Financial progress and the requirement of funds to complete the project on schedule were also…

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Pakistan, Turkmenistan to Fast-Track TAPI Project for Regional Energy Cooperation

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TAPI-gas

ISLAMABAD: High-ranking officials from Pakistan and Turkmenistan have committed to accelerating the execution of the long-anticipated TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline project. This strategic pipeline aims to deliver gas from Turkmenistan through Afghanistan and Pakistan, ultimately reaching India. Federal Minister for Petroleum Dr. Musadik Malik highlighted the significant benefits of the TAPI project, stating, “The TAPI pipeline project will lower energy costs, boost industrial growth, create jobs, and foster economic development.” He emphasized the necessity of reliable and affordable energy supplies for industrial sectors and overall economic stability. Dr. Malik met…

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