Category: Recent Post

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday said that affordable and continued supply of electricity has become a dream for masses and the business community. Costly electricity is not only hurting the masses but is also adding to the cost of doing business as well as cost of production and exports, said FPCCI Vice President Qaisar Khan Daudzai in a statement on Sunday. He said that coronavirus and recent rains have played havoc with the economy and masses; therefore, the policy of continued hike in…

Read More

With more than half of the country’s total capacity charges payable to state-owned power projects, the government has decided in principle to cut the return on equity (ROE) for all public-sector plants, including hydro, nuclear, old thermal and new regasified liquefied natural gas (RLNG)-based projects. The combined impact of the reduction in ROE for these projects has been estimated to be Rs28 billion per annum based on current prices. While this will reduce the overall electricity prices with a significant contribution to the economy and lower production costs, a major…

Read More

The cover of the September/October 2020 issue of Sierra magazine states “The End of Oil is Near”.  The corresponding story “The End of Oil?” was paralleled with a recent segment on Democracy Now.  I think that is wishful thinking.  To the extent that oil demand goes down in the future, it will go down because people can’t afford oil distillates at the price producers need to produce the corresponding oil. The “The End of Oil?” article describes weak oil demand in recent years although it should be stated that global oil…

Read More

QUETTA – The Balochistan government has brought changes in mineral laws to transform state-run minerals companies into vibrant and profitable entities, according to a senior officer of the Mines and Minerals Department. The move is meant to clear the path for the Balochistan Minerals Exploration Company (BMEC) and Balochistan Minerals Resource Company Limited (BMRL) to take mining lease in the province. After the amendment, it would provide legal cover to both the companies, the officer told APP. The initiative would lead to increase revenue generation in the province, he further…

Read More

We have seen oil prices go up and down, up and down over the 100 years my family has been in the oil business. My great grandfather, AP Young, worked the West Texas oilfields until his work boots were sloshing because of all the sweat. Some years, he would sit under a tree and hope someone on the rig got hurt so he could replace them, so he could feed his twelve kids. With the hangover of the COVID-19 pandemic decreasing the need for oil, our daily consumption to fulfill…

Read More