Category: Recent Post

ISLAMABAD: The cabinet on Tuesday approved the removal of cap on dividend distribution by Mari Petroleum Company Limited (MPCL) in a bid to fetch better price for the government of Pakistan shares. The government plans to divest 18.39% shares in Mari Petroleum and the removal of dividend cap will help get a better price. The approval came during a meeting chaired by Prime Minister Imran Khan. Earlier, the Economic Coordination Committee (ECC) had approved the removal of cap on dividend distribution by Mari Petroleum. The Petroleum Division told the cabinet meeting that since its…

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ISLAMABAD: K-Electric has sought increase in electricity rates on account of fuel cost adjustments for seven months and quarterly adjustments for nine months involving an additional revenue generation of about Rs40 billion. According to tariff petitions filed before the National Electric Power Regulatory Authority (Nepra), the Karachi-based private power utility has demanded fuel cost adjustments (FCAs) for seven months from June to December 2020. Of these, consumers have to pay higher adjustments for four months and get relief on account of lower fuel cost in three months. This is on…

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Private companies will be able to bring and sell liquefied natural gas (LNG) to consumers of their choice by April this year, Special Assistant to Prime Minister on Petroleum Nadeem Babar told a delegation of the Asian Development Bank (ADB). He said that Pakistan had fully implemented the third-party access policy in order to utilise the idle capacity of LNG terminals with the help of private companies. In this regard, the cabinet on Tuesday approved the allocation of LNG terminal and pipeline capacity on a three-month rolling basis to the…

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The power generation mix has been made to shift away from furnace oil as coal and RLNG sources were added to the mix over the last few years. The share of furnace oil in power generation fell from 7.4 percent in FY19 to 3.4 percent in FY20; and the same fell from 5 percent in CY19 to 4 percent in CY20. However, the use of furnace oil by the power sector has again picked up and FY21 so far has seen significant increase in the use of fuel. This is…

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LAHORE: Diamer-Bhasha Dam will change the fortune of country, particularly of Gilgit-Baltistan (G-B), remarked Water and Power Development Authority (Wapda) Chairman Muzammil Hussain. In a meeting with G-B Chief Minister Muhammad Khalid Khursheed on Thursday, he praised continued support of the region for building the massive dam. Matters pertaining to hydro development in the region and confidence-building measures (CBMs) undertaken by Wapda in the project area for socio-economic development of locals were discussed in detail during the meeting. Hussain highlighted various facets of CBMs being implemented at a cost of Rs78.5…

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