Category: Shortcode

Pakistan Unlikely to Purchase Spot LNG Until Winter, Says Petroleum Minister

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LNG

KARACHI: Pakistan is unlikely to purchase liquefied natural gas (LNG) cargoes on the spot market until at least the beginning of winter in November due to an oversupply and high prices, according to the country’s petroleum minister. Extreme temperatures across Asia have driven countries to seek more LNG cargoes to meet higher power demand, pushing spot prices to their highest since mid-December. Asia spot LNG recently traded at $12.00 per million British thermal units (mmBtu). Despite heatwaves baking Pakistan’s 300 million people with near-record temperatures, the country’s LNG demand remains…

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World Bank Threatens to Cancel $450m Loan Over KP Hydropower Project Dispute

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Karot-Hydropower

PESHAWAR: The dispute between the Khyber Pakhtunkhwa government and the World Bank regarding the Gabral Kalam hydropower project has escalated. The PTI government has decided to cancel the bidding process for the 88 MW project and initiate re-bidding. In response, the World Bank has warned that ignoring the lowest bidder could result in misprocurement, leading to the potential cancellation of a $450 million loan. The World Bank has also indicated it may downgrade the project rating from moderately satisfactory to moderately unsatisfactory. Additional Chief Secretary Imtiaz Hussain Shah explained that…

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Concessions on Solar Panel Import and Manufacturing Welcomed by Industry

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solar-energy

LAHORE: Renewable energy stakeholders have applauded the federal budget’s concessions on the import and local manufacturing of solar panels, urging the government to promptly release detailed information on these incentives. “Perhaps the government has recognized that renewable energy sources like solar and wind are the only sustainable solutions to mitigate the high costs associated with traditional energy sources like thermal and coal,” stated Mustafa Amjad, Programme Director of the Renewable First, an Islamabad-based energy think tank. In an interview with Dawn, Mr. Amjad commended the government for offering incentives to…

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Power Sector Receives Major Share of Rs1.36 Trillion in Subsidies

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power-subsidy

ISLAMABAD: The federal government has significantly increased subsidies for the merged districts of former FATA in Khyber Pakhtunkhwa and enhanced food subsidies for the Gilgit-Baltistan region. In the upcoming federal budget for 2024-25, Rs86 billion has been allocated for power subsidy arrears in erstwhile FATA, with an additional Rs65 billion set aside for power subsidies. This marks a notable increase from the Rs25 billion allocated in the outgoing fiscal year, of which Rs39 billion was disbursed. Overall, the government has allocated Rs1.36 trillion in subsidies for the next fiscal year,…

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K-P Implements State-of-the-Art Water Management SystemIndus Telemetry Automates Monitoring of Canal Water Flow

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Terbala-Dam

PESHAWAR: Khyber-Pakhtunkhwa (K-P) has made a significant advancement in water management by installing Indus Telemetry, an innovative system designed for real-time data acquisition of water flow in canals. The Indus Telemetry system, a sophisticated technological solution, automates the process of monitoring water flow, providing a significant upgrade to the province’s water management capabilities. This initiative, implemented by the International Water Management Institute (IWMI) under the USAID Water Management for Enhanced Productivity activity, sets a new standard for water management in Pakistan. A ceremony to officially hand over the technology to…

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