Category: Shortcode

Pakistan Petroleum Limited (PPL), the state-owned supplier of natural gas and petroleum products, has commissioned the recently installed Oil Handling Facilities (OHF) and commenced production from discovery well DS X-1 in Dhok Sultan Block, situated in the Province of Punjab. In a filing on the bourse on Friday, the company said it is an operator of the Dhok Sultan Block and holds 75% working interest in it, while Government Holdings (Private) Limited (GHPL) holds 25% working interest. “The current production rates from DS X-1 are ~ 5 MMscfd gas, ~…

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The Pakistan Meteorological Department (PMD) Friday predicted another spell of extremely hot weather during next week, advising the general public to avoid unnecessary exposure to direct sunlight and to use water judiciously. The Met Office informed that high pressure is likely to grip the upper atmosphere from Sunday, due to which day temperatures are likely to increase gradually in most parts of the country from Sunday (May 8). The PMD’s advisory mentioned that day temperatures are likely to remain 07-09°C above normal in upper Punjab, Islamabad, Khyber Pakhtunkhwa, Gilgit-Baltistan and…

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Ministry of Energy on Thursday said up to 11,650 megawatt (MW) had been added to the national grid system during the period of 2013 to 2018. About 3000 MW clean energy was added to the system during the said period, the ministry said in a statement. Out of total 3000 MW, 1350 MW hydel and 1400 MW wind and solar energy was included in the system. Similarly, some 680 MW had been added to the national grid through nuclear energy source during 2013 t0 2018, it further said. For a…

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The International Monetary Fund (IMF) has asked the Pakistan government to bring the current account deficit (CAD) under control — a deficit that has ballooned to 13.16 billion dollars in the first eight months of the current fiscal year and at this rate is likely to surpass the 20 billion dollar deficit that the Khan administration inherited in 2018. Memories of the subsequent mitigating measures that the government was compelled to implement to deal with the crisis by the IMF may still be fresh in the minds of the general…

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The World Bank has held the previous government and National Electric Power Regulatory Authority (Nepra) responsible for addition of more than Rs 500 billion to the Circular Debt (CD) in FY 2021-22 as many prior actions were not taken on time. “There have been delays in annual tariff rebasing and Quarterly Adjustments (QTA) which were included in five Priority Actions (PA5), resulting in increased CD. Half of the increased CD compared to earlier projections (which were close to CDMP target) is attributable to exogenous factors (ie, inflation and Rupee depreciation),…

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