Category: Shortcode

The Cabinet Committee on Energy (CCoE) today (Wednesday) would discuss revised Circular Debit Management Plan (CDMP) prepared by the Power Division. According to the sources, the Finance Ministry said, the Power Division should use realistic assumption to see the impact on stock and flow of circular debt and accordingly, further mitigation measures may be proposed, if required. The country’s circular debt has touched Rs2.5 trillion due to some deviations in the measures agreed with the lenders. The Power Division had sent revised CDMP to the Cabinet Division for onward submission…

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The National Transmission and Dispatch Company Limited (NTDC) has energized phase-I of 500 kV grid station Faisalabad West two months prior to its timeline. The efforts of NTDC for completion of this vital project supported the fulfillment of commitment of Government of Pakistan to provide the uninterrupted power supply to the consumers of FESCO during upcoming summers. Managing Director NTDC Engr. Manzoor Ahmad inaugurated the 500 kV grid station Faisalabad West along with CEO FESCO and NTDC engineers & senior officials on Tuesday. While addressing the inauguration ceremony held at…

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Pakistan’s government is targeting a trade deficit of $30bn in the current fiscal year, with new export-centric policies focused on reducing the country’s reliance on textiles and providing incentives to other sectors, the country’s top commerce official has said. Textiles are the South Asian country’s major export, making up more than 60 percent of the country’s $25.3bn in exports last year, according to government data. The sector continues to receive the lion’s share of government export sector subsidies, including subsidised energy, access to cheap credit for working capital and long-term…

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The demand for petroleum oil products remained robust despite the uptrend in prices, as wheat harvesting, power generation through oil-fired plants and building of domestic reserves in anticipation of a further hike in international prices generated strong demand in January. Besides, healthy industrial activities and growing car numbers on roads also contributed to the rising momentum in sales of petroleum products. Overall oil sales surged almost 20% to 1.8 million tons in January 2022 compared to 1.51 million tons in the previous month of December 2021, Arif Habib Limited (AHL)…

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The government has hired Pricewaterhouse Coopers (PWC) for Third Party Validation of the country’s power sector as Prime Minister Imran Khan is unhappy with the performance of sector, sources close to Special Assistant to Prime Minister on Establishment, Shahzad Arbab, told this correspondent. “As per the direction of SAPM on Establishment, it has been decided that a Third Part Validation Technical Advisory to assess and improve verification process of target status of Performance Agreements (PAs) will commence from February 1, 2022 by Pricewaterhouse Coopers (PWC),” the sources added. Secretary Power…

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