Category: Recent Post

Singapore based LNG trading company — GUNVOR has intimated the authorities in the government that it will not be able to deliver its term LNG cargo which is due on January 10, 2022 by claiming the force majeure. However, it has not yet informed Pakistan LNG Limited as to when this term cargo will be provided, a well placed senior official at the Energy Ministry told The News. He said that technically it will be a second default by GUNVOR in a row in the current winter season 2021-22, as…

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Amid major gas supply constraints, the government may have to rethink its energy subsidy priorities after coughing up over Rs80 billion per annum in handouts to the export industry in the last over three years as it found little connection between subsidies and export growth, with the textile industry even reneging on its side of the pledge. A senior government official told Dawn that the Ministry of Energy had received an independent study from three international reputed organisations — The University of Chicago, The London School of Economics and Political…

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Despite 67 per cent power supplies from cheap domestic resources with static prices, ex-Wapda distribution companies (Discos) have sought almost 116pc increase — Rs4.33 per unit (kWh) — in fuel price adjustment for electricity they sold in November to grab around Rs36 billion additional funds. The National Electric Power Regulatory Authority (Nepra) has accepted their petition for public hearing on December 29 to examine if data and reasons provided by the power companies justified such a tariff increase under the monthly fuel price adjustment (FPA). The key reasons for putting…

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A specially convened meeting of the 57 member states of the OIC Sunday vowed to play a leading role in the delivery of humanitarian assistance to the people of war-torn Afghanistan and unanimously agreed on establishing a humanitarian Trust Fund, launching a Food Security Programme and engaging with the World Health Organization for securing vaccines and medical supplies. The meeting of the 17th Extraordinary Session of the OIC Council of Foreign Ministers held on the initiative of Saudi Arabia and hosted by Pakistan was attended by around 70 delegates from…

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The World Bank’s Board of Executive Directors on Saturday approved $195 million in financing to support Pakistan in improving electricity distribution and implementing energy sector reforms to increase service quality for consumers. According to a statement issued by the international financial institution, the Electricity Distribution Efficiency Improvement Project (EDEIP) will help distribution companies improve operations to manage the electricity supply more efficiently and increase the reliability of the electrical grid. “It focuses on cost-saving interventions to increase revenue collection and reduce losses, and on modernising operations by employing technology and…

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