Category: Uncategorized

The fallacy of competitive energy rates

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Chinese-power

Subsidisation of inefficiency fosters rent-seeking behaviour, impedes capital flow into efficient sectors such as IT ISLAMABAD: The interim government, in its recent policy move, opted to increase gas prices while rejecting the idea of eliminating subsidies for exporters. Export subsidies have been a contentious and enduring issue in Pakistan’s economic landscape for a considerable span of time. The government’s tendency to extend these subsidies to the export sector, often dressed in the attire of tax relief and discounted energy price, has been a matter of some debate. Advocates, including notable…

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OPEC and IEA at odds on future of oil demand

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fuel-oil

Despite the International Energy Agency (IEA), the Organisation for Economic Co-operation and Development energy watchdog, continuing to emphasise, and in no uncertain terms, that the era of oil demand growth is coming to an end, what is making Prince Abdulaziz bin Salman, the Saudi petroleum minister, so ebullient and convinced that the global crude demand will continue to grow in the decades to come? The International Energy Agency is strongly of the view that global oil demand growth is slowing down. And that by 2030, at the latest, global energy…

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Govt urged to revive five-year development planning

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IMF-board

ISLAMABAD: The International Monetary Fund (IMF) has advised Pakistan to revive its five-year development planning, get climate-sensitive public investment management plans working and publish criteria for project appraisals for transparency to attract global climate financing. The IMF’s guidance comes immediately after the two sides reached a staff-level agreement on the first review of a $3 billion bailout, followed by a public announcement by caretaker Finance Minis­ter Dr Shamshad Akhtar to postpone a conventional $1.5bn Eurobond issue this year and the potential need for a longer-term IMF loan deal soon after the February…

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Provinces, LEAs to be taken on board: PM asks power sector to act against defaulters

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Anwaarul-Haq

ISLAMABAD: Caretaker Prime Minister Anwaar ul Haq Kakar has asked the power sector to take immediate action against electricity defaulters in collaboration with the provinces and law enforcement agencies. A review meeting of the power sector was presided over by the caretaker prime minister which was attended by Federal Minister for Power, Muhammad Ali, Adviser to the Prime Minister, Ahad Khan Cheema and senior officials concerned. The caretaker premier was given a detailed briefing on the electricity sector, the overall production capacity of electricity, production and delivery throughout the year…

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PM seeks plan to provide relief to consumers in electricity bills within 48 hours

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Anwaarul-Haq

ISLAMABAD/ LAHORE :Caretaker Prime Minister Anwaarul Haq Kakar on Sunday instructed relevant authorities to formulate concrete measures within the next 48 hours aimed at reducing burden on the masses amid a public outcry over astronomical electricity bills. The prime minister had called an emergency meeting, which lasted for nearly two hours, in a bid to address the complaints about excessive electricity bills. During the meeting, representatives from energy and electricity-related ministries participated. A detailed briefing on electricity transmission and tariffs was provided by the power ministry.

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