Category: Shortcode

A syndicate led by the Bank of Punjab (BOP) has raised over Rs10 billion for Thar Energy Ltd (TEL) for working capital financing, a press release said on Monday. In this regard, a financing-document signing ceremony was held at the bank’s corporate office to mark the closure of the first tranche of the facility. The ceremony was attended by the Hub Power Company Ltd (Hubco) CEO Kamran Kamal, TEL CEO Saleemullah Memon, BOP CEO Zafar Masud and the CEOs of syndicate banks, including National Bank of Pakistan Ltd, Bank AL…

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The Oil and Gas Regulatory Authority (Ogra) on Monday notified a 13 per cent reduction in the price of re-gasified liquefied natural gas (RLNG) for October as the international spot market remained out of reach of Pakistan and average cost of cargos under a long-term contract slightly came down with oil price cut. The basket RLNG price was also lower because of four cargos, instead of usual two, under the second LNG contract with Qatar that is available to Pakistan at 10.2pc of Brent. The LNG cargos from Qatar under…

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On the top of a mountain overlooking the coal mines, the August weather brings a pleasant breeze during a lull in frequent rains. This area is around 16km from the city of Quetta and the mountainous terrain is dotted with coal mines, which provide sustenance to hundreds of miners working deep inside them. As I arrive in the area, I witness miners extract coal from these mines — a practice that has continued here since the days of the British Raj. A majority of the workers employed by these coalfields…

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The total cost of generating electricity in the country jumped nearly 46%, hitting Rs9.91 KWh in September 2022 compared to Rs6.80 KWh registered in the same month last year. However, on a month-on-month (MoM) basis, electricity generation cost declined marginally by 1.5%. “On a MoM basis, the decrease in fuel cost is witnessed mainly due to a rise in wind and solar-based generation,” said Arif Habib Limited (AHL) in a note on Monday. “In addition to this, coal and furnace oil-based costs of generation declined by 12% MoM and 3%…

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Minister for Planning Development and Special Initiatives Ahsan Iqbal Monday said that the incumbent government was committed to complete all the projects being executed under China Pakistan Economic Corridor (CPEC) without any delay. The minister gave the assurance to the Chinese Ambassador to Pakistan Nong Rong who called on him here today. During the meeting, matters related to mutual cooperation on energy and electricity projects especially those being executed under the umbrella of CPEC. Ahsan Iqbal reiterated that the main objective of the CPEC was to promote the industrial sector…

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