Category: Highlights

Despite declining purchasing power and fall in large scale manufacturing (LSM) output, Pakistan prosperity index registered an increase in March on the back of improvements in trade volume and private sector lending, said a public policy think tank. Policy Research Institute of Market Economy (PRIME), in a monthly review of the country’s macroeconomy, said Pakistan prosperity index (PPI) increased in March 2021, reaching an all-time high of 128.1 after dipping in February 2021. “This figure is indicative of increased economic prosperity largely driven by improved business confidence,” PRIME said. “The…

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Federal Minister for Finance and Revenue Shaukt Tarin, Tuesday, said that energy sector was indeed very crucial to keep the cycle of economy moving with ever growing momentum. Oil refineries in Pakistan have been pillar of energy security of the country and now the government wants the domestic oil refineries to upgrade themselves at par with international standards. Chairing a high level meeting here to review progress on Draft Pakistan Oil Refining Policy 2021, Finance Minister Tarin said that the Prime Minister was very keen about progress in all sectors…

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Hot weather and limited supplies helped drive European natural gas prices to a 12-year high late last week in a rally that continued Monday. The prompt Title Transfer Facility (TTF) contract closed Friday at $10.237/MMBtu and finished higher on Monday at a level not seen since 2008. European gas prices have been strong since the beginning of the year. Storage inventories were at 44% of capacity on Monday, about 23% below the five-year average and at their lowest level since 2018.  Strong natural gas demand in Asia, where prices are…

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There is a potential RLNG (or broader electricity) shortage threat looming for July. One of the two RLNG terminals needs dry docking (shutdown for detailed inspection and maintenance). The problem is that the company wants it to happen at the peak season, and this could create gas – in turn electricity – shortage, especially when two of the Sindh gas fields are closed at the same time. This is sending jitters in Islamabad. Engro Elengy Terminal Pakistan is the first LNG import facility in Pakistan. The Floating Storage and Regasification…

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The country is likely to see hike in electricity bills and the government may resort to load management from June to October as SNGPL allocation of RLNG to power sector for these months is up to 54 percent less than the generation requirements of NPCC/NTDC. Against the total requirement planned by National Power Construction Company (NCCP) and National Transmission and Despatch Company (NTDC) of 900 mmcfd for the month of June SNGPL has allocated 639 mmcfd which is 261 mmcfd less than the demand, official source told The Nation. For…

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