ISLAMABAD: The Cabinet Committee on Energy (CCoE), in its upcoming meeting, may approve the import of furnace oil to meet the country’s energy needs in the ongoing winter season. According to sources, the Power Division has requested the CCoE to direct the Petroleum Division make necessary arrangements for the import of 736,078MT of high sulfer furnace oil (HSFO) and 362,080MT of…
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ISLAMABAD: Energy Minister Omar Ayub Khan said on Monday that the Sindh government would be directly responsible for gas shortage in Karachi as it was not meeting its responsibilities in this regard. Taking to Twitter, the minister said that the Sindh government has not so far given the right of way (ROW) permission for the 17km Sui Southern Gas Company (SSGC)…
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ISLAMABAD: The World Bank has appreciated the government’s ongoing reform efforts, particularly in the power, governance and financial sectors, and may enhance its assistance to support the reforms process besides balancing a mix between project mode of financing and programme lending. Hartwig Schafer, Vice President of World Bank Group for South Asia Region, during a video conference with Economic Affairs…
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ISLAMABAD: A parliamentary panel refused on Monday to approve two bills proposing blanket powers for government functionaries to impose surcharges on electricity consumption and powers for police to arrest consumers for theft. A ruling party parliamentarian from Karachi walked out of the meeting in protest over rules that stop parliament from holding K-Electric accountable for the city’s misery. The meeting…
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LAHORE: Power sector reforms are unlikely to pick up because of the instability in policymaking and poor acceptance of reforms by the employees of distribution companies. It may be noted that the federal government is set to take up power sector reforms with the International Monetary Fund (IMF) which included decentralization of power distribution companies from the centre to provinces,…
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Minister for Energy Omar Ayub Khan on Monday informed the National Assembly Standing Committee on Power that the government would save around Rs147 billion during a period of three years after it streamlined matters related to the LNG usage in electricity generation. “Initially, it was mandatory to consume 100% LNG in some power generation plants on the basis of take…
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Energy outlook season is here. And it’s not rosy. Global energy players and major stakeholders are out with their keenly-awaited and immensely researched outlooks. COVID-19 has turned 2020 into an unusual year, carrying long-term ramifications for the energy world. The Paris-based International Energy Agency has termed the pandemic a disruption not seen since the “world wars and the Great Depression.”…
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THE proposal to stop connecting domestic gas consumers to the extensive pipeline network of SSGC and SNGPL in future as part of the broader national energy-sector reform plan has been on the table for some years now. The suggestion was put forward to bridge the growing supply gap during winter on account of fast-depleting indigenous resources and the increasing demand…
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ISLAMABAD: The Auditor General of Pakistan has alleged that the contract of Mohmand Hydropower Project to M/s CGGC-DESCON (JV) was awarded without adequate fair competition. The AGP, in its audit report of FY 2019-20, said that as clarification of PPRA “whenever a procuring agency is confronted with such a situation whereby the rate quoted by a single bidder cannot be…
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According to the IMF’s World Economic Output 2020 released recently, China has now overtaken the US to become the world’s largest economy. Yes, you read that right. The International Monetary Fund (IMF), using the more reliable and now widely accepted yardstick, called the Purchasing Power Parity (PPP), has determined China’s economy at $24.2 trillion compared to America’s $20.8 trillion. The…
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