Category: Shortcode

The Economic Coordination Committee (ECC) is likely to approve arrangements between Pakistan LNG Limited (PLL) and Pakistan GasPort Consortium Limited (PGPCL) to utilise the excess capacity of an LNG terminal. LNG operators have been urging the government to allow the utilisation of idle capacity of terminals as under-utilisation places a burden of multibillion-rupees on consumers on account of capacity charges. With PLL and PGPCL having reached an understanding to utilise the excess capacity, capacity charges will fall from $0.4177 to $0.383647 per million British thermal units (mmbtu). Despite third-party access…

Read More

The National Electric Power Regulatory Authority (Nepra) on Monday notified Rs4.34 per unit additional fuel cost adjustment (FCA) for ex-Wapda Distribution Companies (Discos) for electricity consumed in July to provide Rs69 billion additional funds to cash-starved entities in September’s bills. The regulator “has reviewed and assessed an increase of Rs4.34 per kWh in the applicable tariff for Discos on account of variation in the fuel charges for July,” reads a notification issued by Nepra on Monday. The notification said the additional FCA shall apply to all the consumer categories except…

Read More

The Asia-Pacific Group (APG) on Money Laundering has rated Pakistan’s level of effectiveness as ‘low’ on 10 out of 11 international goals on anti-money laundering and combating the financing of terror (AML/CFT), even though the country is now compliant on 38 out of 40 technical recommendations. The Sydney-based regional affiliate of the Financial Action Task Force (FATF) released an update, as of Sept 2, on the rating of its regional members suggesting that Pakistan had a ‘moderate level of effectiveness’ on only one out of 11 outcomes. Under this ‘immediate…

Read More

Petroleum dealers on Saturday warned the government of a countrywide strike if the latter tried to railroad the proposed oil sector deregulation plan without bringing them and other stakeholders on board, The News has learnt. “We will reject the decision, if taken behind our back,” said Abdul Sami Khan, Chairman Pakistan Petroleum Dealers Association (PPDA), at a ceremony. “It is seriously ironic that OGRA (Oil & Gas Regulatory Authority) has so far not consulted the dealers regarding the proposed deregulation of prices of petroleum products.” He said the dealers would…

Read More

Pakistan can’t win for losing. The South Asian country of over 230 million people was already hit by a perfect storm of economic and political difficulties this year; it has now been devastated by the most severe and catastrophic flooding in recent memory. Over 1,400 people and 800,000 livestock have died, about 1 million homes have been destroyed, and more than 33 million people have been adversely impacted by the floods. One-third of the nation is underwater right now, and the government forecasts an economic impact of more than $10…

Read More