Successive official reports on Pakistan’s power sector indicate that the country suffers from a shortage of power generation, transmission losses, lack of planning and inappropriate policies leading to an escalating energy crisis. This power crisis in Pakistan is the direct result of massive institutional and governance failure in the form of reckless energy policies over the last three decades. This…
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ISLAMABAD: The International Monetary Fund (IMF) on Thursday again linked revival of the stalled $6 billion programme with increase in electricity prices and additional revenue measures – the two conditions that Pakistan had not fulfilled in January this year, which derailed the programme. The technical teams of the IMF and Pakistan on Thursday held discussions over the steps that Pakistan…
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The experts from energy sector said this while sharing their view with the participants of online webinar ‘Indicative Generation Capacity Expansion Plan (IGCEP) 2047 and the challenges’ organized by the Sustainable Development Policy Institute (SDPI), here on Tuesday, with support from the Institute of Policy Studies (IPS), the Rural Development Policy Institute (RDPI), the World Wind Energy Association (WWEA), and…
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Pakistan’s state-owned marketer PSO is back in the spot market seeking fuel oil on a shortage of domestic natural gas supplies in the country during winter. PSO is also seeking low-sulphur fuel oil (LSFO) in its most recent tender, an unexpected move after Pakistan did not import LSFO in 2019. PSO has issued three spot tenders this week seeking to…
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ISLAMABAD: Pakistan LNG Ltd (PLL) said on Thursday it has signed an initial deal to supply liquefied natural gas (LNG) to K-Electric’s plants from 2021, helping the country cut its carbon emissions. The country has increased its reliance on imported LNG over the last few years as its local gas output has declined while domestic demand, led by power sector,…
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KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lamented frequent increase in the energy prices and said it is making Pakistani products uncompetitive in the international market, a statement said on Saturday. “Pakistan is losing the international markets to China, India and even Bangladesh,” FPCCI President Mian Anjum Nisar said. Although the oil prices were linked…
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ISLAMABAD: The government has reportedly decided to convert additional debt of Rs 80 billion of Power Holding Limited (PHL) into public debt as per agreements with the international financial institutions (IFI), well informed sources told Business Recorder. For this purpose, Finance Ministry will submit a summary to the Economic Coordination Committee (ECC) of the Cabinet shortly. The government has already…
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ISLAMABAD: A few years ago, Oil and Gas Development Company (OGDC) had been a star performer at the Pakistan stock market. However, in recent years the company has lost much of its market value and its performance has remained lacklustre. In 2014, OGDC’s share price stood above $2 but in the recent past the share value was hovering around $0.60.…
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