Category: Shortcode

Local refinery sector has been expecting to post huge profit for the year ended June 30, 2022 due to high gross refinery margins (GRMs), which rose to $25 per barrel in the last quarter of the fiscal. However, these profits would not be translated into dividends for shareholders of these refineries listed on the stock market, The News learnt on Friday. Out of the five refineries in the country, four refineries ie Pakistan Refinery, National Refinery, Attock Refinery and Cnergy Pk are listed on the stock market, whereas Pak-Arab Refinery…

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Pursuing a revenue target of Rs121 billion for the current financial year, the Water and Power Development Authority (Wapda) has requested the National Electric Power Regulatory Authority (Nepra) to increase the tariff of hydroelectric power by Rs0.47 per unit During a meeting held in this regard, Wapda requested that the average tariff of 21 plants should be increased from Rs3.68 to Rs4.15 for the financial year 2022-23. NEPRA Chairman Tauseef H Farooqui asked WAPDA officials why they needed Rs1,500 million to repair power plants. He also sought the submission of…

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Pakistan Solar Association (PSA) has called upon Prime Minister Shahbaz Sharif to intervene for customs clearance of containers of solar equipment stuck for months at various ports across the country. “A huge number of solar devices import containers are awaiting clearance while importers are facing heavy demurrage charges,” PSA chairman Rana Abbas said in a statement issued on Thursday. He added that it was the time to aggressively promote alternative and green energy sources, and encourage the traders dealing in solar energy equipment in Pakistan. “The containers containing solar equipment…

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Pakistan’s textile exports clocked in at a provisional $1.54 billion, a drop of 10%, in July 2022 compared to $1.71 billion in June 2022, stated the All Pakistan Textile Mills Association (APTMA) on Tuesday. On a yearly basis, textile exports were up 5%, compared to $1.47 billion recorded in July 2021, showed the provisional data released by APTMA. In July 2022, the percentage of textile exports in total exports reached 66%, it added. “The decline in exports can be attributed to lack of energy supplies, which reduced textile export growth…

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The South Asian subcontinent is facing a massive energy crisis, which has placed regional governments on edge, compelled widespread switching to extremely polluting fuels like coal and fuel oil, and plunged nations like Sri Lanka into socioeconomic chaos. An uninterrupted, reliable, and economical energy supply is a crucial prerequisite for lowering poverty, promoting investment, and accelerating economic progress in a developing nation like Pakistan. Pakistan’s energy resources have been inefficiently utilized for decades due to poor energy management. As a result, the country is experiencing a severe energy crisis that…

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