Category: Highlights

The Petroleum Division has chalked out a plan to control the shortage of Liquefied Natural Gas (LNG) under which Terminal-II will provide a maximum 600 Million Cubic Feet per Day (MMCFD) re-gasified LNG during the closure of Terminal-1. In a statement on Tuesday, the division said that normal supplies from the first terminal will resume from July 5, and the total supply from both terminals will be 1,152 MMCFD. During the shortage, gas companies are authorised to manage their load as per government approved gas supply priority order whereby uninterrupted…

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Pakistan and the Islamic Development Bank (IDB) on Monday signed a $4.5 billion framework agreement for a commercial loan to finance oil and gas imports amid only 55% utilisation of a similar three-year facility. The International Islamic Trade Finance Corporation (ITFC) signed the three-year framework agreement for a cumulative amount of $4.5 billion with Pakistan in order to provide financing for the import of essential commodities such as crude oil, refined petroleum products, LNG and urea, the Ministry of Economic Affairs announced. Jeddah-based ITFC is the financing arm of the…

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Peak in twin energy crises on the cards June 28, 2021 A twin energy crisis is going to peak in next few days with initiation of LNG terminal’s dry docking, annual closure of a key gas-well and man-made bottlenecks in supplies. The most efficiently-run LNG import terminal will be shut down temporarily today (Monday), as Floating Storage and Regasification Unit (FSRU) is going to leave for mandatory dry docking, disrupting gas supplies for around five days. The back-to-back cut in RLNG supply and annual closure of Kunar Pusaki gas field…

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For any developing economy tax collection represents the most critical component for growth and development. On an average, developing economies collect less than 15 percent of GDP in taxes, compared with the 40 percent collected by advanced countries. The ability to collect taxes is central to a country’s capacity to finance social services such as health and education, critical infrastructure such as electricity and roads, and also undertake much needed public welfare schemes and projects for the most under privileged segments of the society. Given the much needed investment required…

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Like Houston, we will have a problem. Results of a case when utilities are not encouraged to invest. Earlier this year, millions of homes in Texas were without power for days in what is dubbed as one of the worst power crises in world history. Houston is really a case in point. The electric grid in Texas was built for efficiency, but not for climate resilience and resultant changes to operational requirements. The past three decade’s policies in this sector do not reflect any adequate framework for future growth and…

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