Pakistan and the Asian Development Bank (ADB) will sign six financing loan agreements worth $1.535 billion on Wednesday (today), it is learnt. Official sources revealed to Business Recorder that Minister for Economic Affairs Omar Ayub Khan will witness the loan-signing ceremony. Documents revealed that the Economic Affairs Division (EAD) and the ADB will sign loan agreement worth $600 million for integrated social protection development programme (BISP Ehsaas). Another project worth $300 million would be signed for energy sector reforms and financial sustainability programme (Sub-program 2). The EAD and the ADB…
Read MoreCategory: Uncategorized
Karachi Facing Acute Gas Shortage
The Ministry of Energy has said that Karachi is facing acute shortage of gas as the freezing cold in Quetta in the current winter season requires an increase in gas supply. A ministry representative made the remarks when the Standing Committee on Energy (Petroleum Division) asked about the worsening gas shortage and increase in petroleum product prices in the country. The committee met for its 13th meeting on Tuesday. DG (gas) told the committee that the country lacked storage capacity, otherwise the issue of energy shortage could be tackled permanently.…
Read MoreSNGPL to Launch Campaign Against Use of Compressors
Sui Northern Gas Pipelines Limited (SNGPL), Rawalpindi Region would launch a campaign to check the use of compressors. According to a SNGPL spokesman, the consumers of some localities were facing low gas pressure due to severe cold weather for some days. “SNGPL is trying to utilize all available resources to increase the gas pressure,” he claimed. To a question he said that SNGPL had issued a warning to the citizens against installing and using compressors, declaring them illegal and hazardous. He said that the teams would go door-to-door to ensure…
Read MorePetrol Stations to Remain Closed on Nov 25 in Protest
The country may face shortage of fuel after All Pakistan Petrol Pumps Dealers Association announced that it will observe a nationwide strike on Nov 25 as the government had failed to increase the dealers’ margin by 6pc. All Pakistan Petrol Pumps Dealers Association Information Secretary Nauman Ali Butt said petrol filling stations across the country would remain closed on Nov 25. He said the government had not accepted their demands and that no negotiations would be held until the margin was raised by 6pc. It may be mentioned here that…
Read MoreSaudi Envoy Lauded RE Policy of GOP
Federal Minister for Energy Muhammad Azhar received His Excellency Nawaf bin Saeed Al-Maliki, Ambassador of Saudi Arabia to Pakistan in his office today. The sides discussed matters of mutual interest relating to on-going bilateral cooperation in the energy sector.The Minister apprised the Ambassador of government’s initiatives in energy sector focusing on induction of renewable energy policy to harness local resources for power generation and; said that revival of exploration and production activities in oil & gas sector would attract investment in the country. The Minister also highlighted expeditious steps taken…
Read More
