Category: Recent Post

Pakistan, as well as Bangladesh, is rationing gas and buyers across South Asia are seeking alternative fuels after spot liquefied natural gas (LNG) prices surged to record highs, government and industry officials told Reuters. Spot LNG prices have nearly tripled since early November as freezing temperatures across North Asia boosted demand and depleted inventories. Since July, prices are up a dizzying 1,000 per cent. Gas-fired power plants and industries across the region are scrimping on gas, with the scramble for other fuels driving up demand for liquefied petroleum gas (LPG) and…

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ISLAMABAD: A Chinese iron and steel conglomerate has become the first foreign enterprise to establish its plant in the Rashakai Special Economic Zone under CPEC with a planned investment of $50 million. The SEZ Committee of Rashakai Special Economic Zone at its meeting on Friday allocated 40 acres to Century Steel Ltd owned by Fuzhou Julitaihe Inter­national Company of China, which owns steel mills in Indonesia, Myanmar, Cambodia and Ethiopia with a net capacity of 3,000 million tonnes of iron and steel products. The Board of Investment (BoI) in a…

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ISLAMABAD: With sufficient oil-related revenue in the kitty, the government on Friday increased the prices of all petroleum products by three per cent to 6pc for the next 16 days. According to an announcement by the finance ministry, the ex-depot prices of petrol and high speed diesel (HSD) were increased by Rs3.20 and Rs2.95 per litre, respectively. The prices of kerosene and light diesel oil (LDO) were jacked up by Rs3 and Rs4.42 per litre, respectively. In doing so, the government slightly increased petroleum levy on petrol, kerosene, and LDO.…

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday constituted a three-member committee to probe into the major power breakdown that plunged the whole country into darkness last weekend. In a notification issued here on Thursday, Nepra said that the inquiry committee comprising two private sector experts would be required to submit a report to the regulator within 15 days (till Jan 29). The committee is led by Nepra’s Director General Nadir Ali Khoso and comprised of former manager of the National Transmission and Dispatch Company (NTDC) Manu Ram…

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HYDERABAD: Sindh Minis­ter for Energy Imtiaz Ahmed Sheikh has urged his federal counterpart Omar Ayub to ensure issuance of notification for five wind power projects, to be installed by independent power producers (IPPs) in the province, to encourage investors and promote clean power industry. The minister said in a letter to the federal minister on Thursday that tariffs of the five wind power projects in Sindh had not been notified yet in the Gazette of Pakistan. He said that a delegation of local and foreign investors had contacted Sindh’s department…

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