Category: Shortcode

The Petroleum Division has arranged 281,000 MMT furnace oil for May 2022 for the power sector to be supplied till May 24, 2022, fearing that supplies can be disputed during the first week of May due to the Eid holidays. On April 23, 2022, Power Division sent the revised plant-wise demand for furnace oil for the month of April, and May 2022. According to the Directorate General of Oil (Petroleum Division), the matter was consulted with PSO, APL and BE, being the major suppliers of RFO to the power sector.…

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Power Division has sought additional resources of Rs 329 billion from the Finance Ministry to deal with load shedding, ranging from 8-14 hours a day across the country, as 5,739 MW electricity is not in the system due to unavailability of fuel. Of Rs 329 billion, Power Division has sought Rs 108 billion by May 25, 2022, Rs 136 billion by June 7, 2022 and Rs 85 billion by June 15, 2022. The circular debt has already crossed Rs 2.460 trillion. “Power plants of 5,739 MW are available but they…

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Pakistan must pursue its indigenous coal objective for its long-term strategic energy security. The utilisation of the massive lignite reserves of 175.5 billion tonnes, the world’s sixth largest and equivalent to combined oil reserves of Iran and Saudi Arabia, found in Sindh’s Thar region in place of the expensive, imported fuels — coal, furnace oil, and RLNG (re-gasified liquefied natural gas) — for electricity generation is crucial to Pakistan’s economic ambition to achieve higher growth, boost exports and create new jobs through industrialisation. Besides, the displacement of imported fuels with…

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The country’s overall fiscal deficit during the first three quarters of the current fiscal year – July-March 2021-22 – stood at Rs2,565 billion or four percent of the GDP, according to the Finance Ministry. According to consolidated fiscal operation released by the Finance Ministry on Tuesday, fiscal deficit was recorded at Rs2,565 billion during the first nine months of the current fiscal year subsequent to expenditure of Rs8,439.7 billion against revenue collection of Rs5,874 billion. Provincial surplus was recorded at Rs599 billion and primary deficit at negative by Rs447.161 billion…

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Taking cognizance of the reports on diesel non-availability, the Oil and Gas Regulatory Authority (OGRA) has moved its enforcement teams along law enforcement agencies and district management in different regions to inspect and unearth illegal oil storages. It is reiterated that anyone found in hoarding or stocking oil illegally shall be dealt under the law of the land. The chief secretaries have already been informed to advise the deputy commissioners for increasing vigilance on any such illegal activities and take immediate punitive actions. Moreover, the DCOs have also been informed…

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