Category: Shortcode

August 13th, 2021 – a day before the nation’s 74th Independence Day – a jubilant Governor State Bank of Pakistan, Dr Reza Baqir, hurriedly called a meeting with Islamabad’s economic correspondents corps just an hour before boarding a plane to Karachi. The Governor shared the ‘great news’ that Pakistan’s gross official foreign exchange reserves would for the first time hit the record high figure of $20 billion – beating a 2016 high – and the current account deficit was now sustainable. By April 2022, Dr Baqir – who is going to…

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Surely, it’s a little late for the ministry of energy to address the issue of fuel shortage in some power plants in time to ensure uninterrupted power supply during Ramazan. Already, there are reports of unscheduled load shedding throughout the country, which means it didn’t take long for the government’s claims to the contrary to ring very hollow. And directing concerned departments to ensure necessary funds in a hurry might make good headlines, but things are rarely so easily handled on the ground. To add to the financial troubles, it’s…

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In a new schedule, the Sui Southern Gas Company (SSGC) on Thursday announced to shut down CNG stations in the province for three days in the ongoing week. A spokesperson for the gas utility said that all the CNG stations would stay closed for 72 hours from 8am on April 8, Friday till 8am on April 11, Monday. According to SSGC, the gas supply to industrial units will also remain suspended on April 10 for 24 hours. It further shared that the decision was taken in wake of low gas…

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Khyber Pakhtunkhwa (KP) has urged the federal government to allocate a separate block of at least 3,000MW of candidate projects in the next iteration of IGCEP for hydropower projects at par with renewable energy schemes. The request was made by KP Chief Secretary Dr Shahzad Khan Bangash in a letter to Secretary Power, Syed Asif Hyder Shah. His letter is in response to a letter of Board of Investment (BoI) of February 11, titled “foreign direct investment of $3 billion by Korean investors is jeopardized”. According to the Chief Secretary,…

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Ministry of Energy on Thursday discussed fuel stocks position of power sector and directed concerned organizations to arrange required funds and ensure supply in April 2022, well informed sources told Business Recorder. The meeting was informed that electricity demand has increased by 45 per cent in April 2022 as compared to correspondent month of 2021, which has created fuel shortage in some of the plants. Another reason of higher demand is high temperatures, which has increased power demand. National Power Control Centre (NPCC) informed the meeting that operations of power plants…

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