Category: Recent Post

Encouraged by higher electricity consumption by industry and emerging gas shortages, the government is planning to offer a cheaper electricity tariff for domestic and commercial consumers in coming winters to shift space heating to power instead of gas. “Ministry of Energy is moving a proposal for seasonal emerging pricing for domestic & commercial consumers to encourage power consumption during off-peak months,” Energy Minister Hammad Azhar said in a tweet. “The success of Industrial Energy Package demonstrates that such incentives provide relief & absorb part of surplus capacity,” he added. Gas…

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The Cabinet Committee on Energy (CCOE) has directed Power Division to develop methodology and criteria for strategic projects in consultation with the provinces under the National Electricity Plan within two months, official sources told Business Recorder. The Committee which approved Indicative Generation Capacity Expansion Plan on August 26, 2021, has not given any decision on category-III RE projects and directed Law & Justice Division to finalize its advice regarding category-III RE projects before next Cabinet meeting. The Committee which was presided over by Minister for Planning, Development and Special Initiatives…

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The PTI government’s dream to utilise the excess capacity of 150mmcfd on Engro LNG terminal in winter season is in tatters as the Engro Elengy Terminal Limited (EEPTL) here on Thursday told the Petroleum Division in plain words if the government wants to utilize the excess capacity of 150mmcfd of the existing state-of-the-art FSRU Sequoia, then Sui Southern Gas Company (SSGC) will have to extend till today (Friday) the two-year waiver on its buy option rights over FSRU Exquisite. In a letter, EETPL CEO Yusuf Siddiqui wrote on Thursday to…

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The Petroleum Division has settled over a decade-old controversy about deemed duty collected by refineries, saying that they have invested Rs200 billion in projects. The ministry said that they had collected Rs200 billion and invested the same amount in their projects. The deemed duty collection has been a controversial subject for the refineries. Critics have said that they received billions of rupees but did not invest in plant upgrades. The Cabinet Committee on Energy (CCOE) has raised several questions over the proposed Refinery Policy 2021. The major question is how…

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A steep fall in the value of Pakistani rupee against foreign currencies since July 2018 caused an addition of Rs2.9 trillion or one-fifth to the public debt during the past three years, the Ministry of Finance said on Thursday. The official reaction to media reports on the record surge in public debt, based on State Bank of Pakistan’s debt bulletin, came the day the rupee closed at nearly the lowest level in a year – Rs167 to a dollar. During intra-day trading, the Pakistani currency at one point touched Rs168.…

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