ISLAMABAD: The Power Division has notified 8-member committee headed by the Prime Minister’s Advisor on Finance and Revenue, Dr Abdul Hafeez Shaikh to give effect to the MoUs signed with IPPs and their conversion into binding contractual agreements and devising a mechanism for settlement of outstanding dues of IPPs. On September 29, 2020, the federal cabinet constituted the following committee…
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ISLAMABAD: Federal Minister for Power Division Omar Ayub has said the federal government has decided to handover Quetta Electric Supply Company (QESCO) to the provincial government of Balochistan. He said as a part of the privatisation drive, the government had offered Balochistan to takeover the operation of the QESCO, adding that the government was also going to privatise Peshawar Electric…
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EDITORIALS: Energy sector’s circular debt has reached 2.3 trillion rupees against 1.2 trillion rupees inherited by the Pakistan Tehrik-i-Insaaf (PTI) government a little over two years ago – a rise of nearly 92 percent. The percentage rise in the circular debt is unprecedented in the annals of the historically appallingly poorly managed energy sector and can simply not be palmed…
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ISLAMABAD: Federal Energy Minister Omar Ayub Khan has invited foreign investors to seek huge investment and business opportunities by exploring the open market regime in Pakistan’s LNG sector. The energy minister was addressing the LNG Producer-Consumer Conference 2020, Japan, through a video link. He said that Pakistan had been a gas producing country with daily production of over 4 billion cubic…
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KARACHI: The largest motorcycle manufacturer in Pakistan, Atlas Honda, has received a nod from the regulator to setup solar power generation arrangements at its manufacturing site in Sheikupura. Atlas Group’s subsidiary Atlas Energy would install solar generation facilities having a cumulative 2.5MW capacity for its motorcycle manufacturing plant in Sheikupura. The installed capacity was proposed after critically analysing the current…
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KARACHI: An environmental tribunal on Tuesday recorded testimony of a witness in a case pertaining to issuance of approvals by the Sindh Environmental Protection Agency to private companies for collection and disposal of hazardous and infectious waste allegedly without conducting environmental impact assessment. The three-member tribunal headed by its chairman retired Justice Sadiq Hussain Bhatti was hearing a complaint filed…
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Iraq discussed on Tuesday plans for investment in associated gas production at its largest oilfield, Rumaila, Iraq’s Oil Minister Ihsan Abdul-Jabbar Ismail said in a statement to Shafaq News agency. With BP as operator, the Rumaila oilfield produces 1.5 million barrels per day (bpd) of oil, or around a third of the crude oil pumped in OPEC’s second-largest producer after…
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Oil prices appear to be waiting for the presidential election before making any major moves, with prices falling due to rising Libyan oil production before climbing on positive news out of China Chart of the Week – Oil production outages have increased in 2020, cutting into global supply. – In 2020, oil disruptions have averaged 4.6 mb/d, reaching 5.2 mb/d at…
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ISLAMABAD: The International Islamic Trade Finance Corporation loaned $386 million to Pakistan for import of liquefied natural gas (LNG) and oil as a part of the $4.5 billion trade financing facility agreed for the country two years ago, the ministry of economic affairs said on Monday. The financing agreement signed between the International Islamic Trade Finance Corporation (ITFC), a subsidiary…
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The issues facing the various under-performing manufacturing sectors and the official measures taken for their recovery so far were reviewed at a meeting chaired by Prime Minister Imran Khan on October 1. Manufacturers from various sectors, including pharmaceutical, cement, textile, chemicals, house appliances etc presented their points of view. The prime minister was assisted by the country’s top economic managers…
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