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The dry-docking in peak summer season will cost state-run energy companies and consumers around $40 million. In addition to the hefty price, the country is also facing an energy crisis if the Engro LNG terminal goes on dry docking after June 30, 2021. Sources said that the oil and gas companies had informed the government that consumers would be facing a burden of $25 million due to substitute fuel of furnace oil and high speed diesel in power plants to generate electricity. Sui Northern Gas Pipelines Limited (SNGPL) has take-or-pay…

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The government is going to introduce a new car financing scheme with a lower interest rate of 5 to 6 per cent to facilitate customers who are unable to buy a car after major price hikes during the past few years. According to an official at the ministry of Industries and Production, the government is interested in facilitating the customers of small cars of 850 cc to 1000 cc with reduced interest rate to facilitate maximum buyers. However, the financing facility would also be extended to cars of above 1000 cc.…

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Pakistan’s electricity demand has soared to 20 percent of which the industrial demand alone has increased by 12-13 percent, which may lead to high economic growth. The Federal Minister for Energy Muhammad Hammad Azhar said this during a meeting with the U.S. Embassy’s Chargé d’ Affaires, a.i. Lesslie Viguerie here on Monday. Secretary Power Division Ali Raza Bhutta, Daniel Froats, Economic Counselor US Embassy and other senior officials were also present during the meeting. Azhar said that the increase in demand is a very positive sign not only for the…

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Amid gas shortfalls affecting power supplies at the peak of summer, emergency meetings are being arranged at the highest level to facilitate later this month dry-docking of floating LNG terminal of Engro that has blamed the government entities for creating the mess. This is happening at a time when the hydropower system has its natural constraints, local gas fields require annual turnaround for maintenance and furnace oil supplies at short notice through gallop tender are getting expensive. Officials requesting not to be named told Dawn that the power and petroleum…

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The prices of the Liquefied Petroleum Gas (LPG) have been raised in the country for the third time within a span of four days as distributors have announced a nationwide strike against the decision on June 30, ARY NEWS reported on Tuesday. The Oil and Gas Development Company Limited (OGDCL) announced an increase of Rs6.09 per kilogram in the prices of LPG cylinders. After the recent increase, Rs71.93 would be charged more on the household cylinder while commercial cylinder prices would go up by Rs276.75. The LPG prices were raised…

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