The new policy prepared and finalised by the government for petroleum refining seems lucrative. Under the policy, an incentive package is on offer to those willing to establish deep conversion refineries anywhere in Pakistan. Similarly, the plan also offers the same incentives to the local refineries provided they decide to upgrade themselves. The policy, which will be implemented once the…
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The country’s power generation (ex-KE) continues to grow at a very modest rate. The 8MFY21 generation numbers are out depicting a meager increase of 2.69 percent year-on-year in the net electricity generation at 81 billion units. Recall that the generation has been static for three years around 120 billion units for the full year. That the power generation mix is…
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THE weather in Mach town of Balochistan’s Bolan district was pleasant on Saturday morning, but it then started raining. Mach, a coal mining town, wears a dusty, disheveled look. Everybody is linked to the coalmine business one way or the other. Across the road and river leading to the town, work is under way in mines. But fear is in…
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ISLAMABAD: The Privatistion Commission (PC) on Wednesday finalised proposals for the participation of the private sector in the management of 10 power distribution companies (Discos) and the Cabinet Committee on Privatisation (CCoP) will take up the issue in its next meeting. Chairing the second meeting of the PC board on Discos, Privatisation Minister Muhammadmian Soomro said the purpose of the…
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Special Advisor to the Prime Minister (SAPM) on Petroleum Nadeem Babar seems to have made some enemies by implying at the last meeting of the federal cabinet that small oil marketing companies (OMCs) might be engaging in malpractices like smuggling. He informed the meeting that eight of 66 licensed OMCs held 92 percent of the market share, adding it was…
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ISLAMABAD: The World Bank has proposed ‘Pakistan Model’ to hand over Distribution Companies (Discos) to the private sector for 20 years with equity injection of Rs 728 billion without any cash impact layoffs and transfer of government assets, sources close to SAPM on Power Tabish Gauhar told Business Recorder. The 18-month roadmap is supposed to be achieved using the examples…
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You say one thing while in the opposition, and quite the other while in the government. That also seems to apply perfectly well in the energy sector of Pakistan. All tariff increase is bad in opposition and inefficiencies are offered as the solution. When in government, increase is substituted by inevitable “rationalization”, and system inefficiencies are no longer the vital…
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DUBAI: United Arab Emirates power producer Abu Dhabi National Energy Co. (TAQA) announced on Wednesday plans to increase its renewable energy assets, in a shift away from reliance on oil. TAQA said in a statement that by the end of the decade more than 30% of its power generation would come from renewable sources such as solar, up from 5%…
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KARACHI: “If we have to seriously pull out the country from crises, two radical decisions have to be made, reduction in interest rate up to 4 percent and cut in electricity and gas tariffs,” said economic and financial analyst Ateeq Ur Rehman. In January, SBP stated that it will maintain the basis point at the current level of 7 percent…
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The compulsory need to wear a face mask and observe other safety precautions against the coronavirus doesn’t end in the present times even after getting vaccinated against the deadly viral disease.Chief Executive Officer of Indus Hospital Dr Abdul Bari Khan stated this as he delivered the keynote speech at a seminar titled “Business responses to Covid-19 pandemic” organised by the…
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