There is a very real danger that the coming winter months in Pakistan, and particularly in the north of the country, will be particularly cold ones with an insufficient supply of gas. This is chiefly because Pakistan LNG Limited failed to place tenders for gas supply in time to the international market. It is also now being forced to obtain…
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ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar on Saturday underscored that the PTI government paid $10.4 billion on account of debt servicing of external public loans including principal payment of $8.5 billion and $1.9 billion in interest payments. The minister was responding to the reportage of the Annual Report on Foreign Economic Assistant (FEA) for FY19-20 which highlighted…
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ISLAMABAD: The circular debt of the Pakistan State Oil (PSO) has hit an alarming level as its receivables touched Rs318.9 billion. According to the PSO, the receivable against power sector is piling up to Rs196 billion. The receivable against the PIA and other government entities also recorded at Rs30 billion. Another Rs92.6 billion is receivable from the Sui Northern Gas…
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Prime Minister Imran Khan Saturday said Pakistan was committed to mitigate impact of climate change and vowed to produce 60 per cent clean energy through renewable resources by the year 2030, scrap its coal based power projects, and run 30 percent of its vehicles on electricity. I assure you that Pakistan will be doing its best to make its contribution…
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The Independent Power Producer (IPP), Hub Power Company Limited (Hubco) has entered into a Memorandum of Understanding (MoU) with Pakistan Defence Officers Housing Authority, Karachi (“DHA”) with respect to the revival of DHA Cogen Limited. The revival of DHA Cogen Limited will generate 84 MW of electric power for supplying to K-Electric and provide 3 million gallons per day of…
Read MoreQatar Petroleum’s newly formed trading unit participated in a buy tender by Pakistan LNG for the supply of liquefied natural gas (LNG) for the first time, industry sources said on Friday. Qatar Petroleum said in November that it had set up a trading unit, Qatar Petroleum Trading Company, which will be headquartered in Doha and aims to build a diversified…
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KARACHI: Remittances in to the country remained well above the $2 billion mark in November for the sixth consecutive month despite recording a slight increase compared to inflows in October. The data released by the State Bank of Pakistan on Friday showed remittances in November clocked in at $2.34bn, up 2.4 per cent month-on-month from October. However, the growth in…
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KARACHI: Oil & Gas Regulatory Authority (OGRA) has initiated forensic technical, commercial, and management audit of the two gas companies to determine actual unaccounted for gas (UFG) losses for indigenous as well as regasified liquefied natural gas (RLNG), separately in transmission and distribution system, an official said on Friday. Imran Ghaznavi, the spokesperson for the OGRA confirmed the audit for…
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Prime Minister Imran Khan on Saturday said that by 2030, 60 per cent of all energy produced in the country will be “clean” and through renewable resources. “Thirty per cent of all the country’s vehicles will use electricity,” he added. The premier made the remarks while speaking at the Climate Ambition Summit 2020. According to the Prime Minister’s Office, the…
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