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ISLAMABAD: The International Monetary Fund (IMF) has again turned up the pressure on Pakistan, asking it to increase power and gas tariffs for the revival of the stalled $6 billion programme. The global lender has contacted Pakistani authorities to convey its demands, sources said on Thursday. The sources added that the IMF had called for measures to reduce circular debt and power losses. The IMF has also demanded that the National Electric Power Regulatory Authority (Nepra) and the Oil and Gas Regulatory Authority (Ogra) should be allowed to make independent…

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ISLAMABAD: The Power Division is seeking exemption from guaranteed liquefied natural gas (LNG) offtake for three power plants, a move that may aggravate woes of LNG suppliers and hurt gas imports from Qatar. Since Pakistan started importing LNG from Qatar in 2015, the Pakistan Muslim League-Nawaz (PML-N) has been facing criticism from different quarters for striking a long-term LNG deal at high rates, which resulted in lower consumption of the fuel in the power sector. LNG-based power plants were set up during the 2013-18 tenure of PML-N government with higher efficiency…

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ISLAMABAD: The government on Thursday decided in principle to close down about 2,900 megawatts of government-owned old power plants in two phases and get rid of ‘must-run’ status of three LNG-based plants in Punjab of about 3,900MW. Under the decision, various units of about 1,400MW at four generation companies of ex-Wapda would be closed down immediately, followed by another 1,500MW of units by the year 2022. These issues came up for discussion at a meeting of the Cabinet Committee on Energy (CCoE) presided over by Minister for Planning and Development…

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ISLAMABAD: The federal cabinet on Wednesday directed the petroleum and defence ministries to remove all hurdles within 30 days to facilitate setting up and operationalisation of two additional liquefied natural gas (LNG) processing terminals in the private sector. Under the decision taken at a cabinet meeting on Tuesday, the prime minister approved two proposals of the Ministry of Maritime Affairs and ordered immediate implementation. Special Assistant on Pet­ro­leum Nadeem Babar confirmed that the cabinet removed all obstacles. He said the two additional terminals required a total of 16 approvals and…

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Karachi: A large number of industrialists of SITE area Karachi staged a peaceful protest outside the office of SITE Limited against the non-provision of infrastructure facilities in SITE area Karachi, particularly the worst-ever condition of roads. Industrialists demanded to hand over Site Ltd management control to Site Association, immediate start of roads repair under Site Association supervision, Site board members should fulfill their responsibilities, Site be given rights equal to other industrial areas and save Site area from total disaster. Prominent industrialists of the area Siraj Kassim Teli, Zubair Motiwala,…

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