Category: Recent Post

The year 2020 has not been kind to most sectors of the economy, what with the double whammy of a global pandemic and the ensuing global recession. Yet, all things considered, it is remarkable that power generation in Pakistan actually fared alright, declining only marginally when comparing fiscal year 2020 to 2019. Even better, demand for power has picked up in June 2020, according to Sunny Kumar, analyst at Topline Securities, in a note sent to clients on July 23.  Power generation in Pakistan declined by 1% year-on-year to 121,867…

Read More

ISLAMABAD: The government has decided in principle to set up a commission to probe the recent shortage of petroleum products, shift oil pricing to quarterly basis and change the pricing mechanism for imported Euro-V petrol and diesel to Platt’s Oilgram instead of PSO imports. A final approval is likely to be granted by the federal cabinet at a meeting on Tuesday. The meeting has a heavy agenda, including a proposal for regularisation of the Naval Sailing Club on Rawal Dam, Islamabad. The meeting will take up 13 issues, including recruitment…

Read More

LAHORE: Power generation in Pakistan has declined by 1% YoY to 121,867 GWh (23,618 MW) during FY20 as compared to 122,708 GWh (23,781 MW) in FY19 due to overall slow economic activity during the year and the impact of COVID-19 related lockdowns and restrictions during Mar-May 2020. According to sources, power mix during FY20 moved in favour of Hydel (32% in FY20 vs. 26% in FY19) and Coal (21% in FY20 vs. 13% in FY19), replacing gas (12% in FY20 vs. 18% in FY19) and furnace oil based generation (3%…

Read More

Islamabad: Foreign oil marketing firms-Shell and Total are in hot water as Pakistan has decided to form a Commission of Inquiry to probe into the recent shortage of petroleum products. Cabinet in its meeting scheduled on Tuesday is set to give-go ahead in this regard. Total and Shell were among those nine oil marketing companies that were imposed a fine of Rs 55 million over involvement in hoarding petroleum products in month of June that resulted in shortage of fuel across the country. These companies included Shell, Total Parco Puma…

Read More

Iran has positioned a replica of a U.S. aircraft carrier at the world’s most important oil chokepoint, the Strait of Hormuz, and could use the mock-up in naval war games in the area, according to satellite images reported by Reuters on Monday. Images taken by U.S. space technology firm Maxar Technologies on Sunday show that Iran had a fast attack boat moving towards the mock-up U.S. aircraft carrier, Reuters noted. “We cannot speak to what Iran hopes to gain by building this mock-up, or what tactical value they would hope…

Read More