August 2021
Read MoreAugust 2021
Day: August 26, 2021
Six New Projects In Petroleum Sector To Be Executed In FY 2021-22
As many as six new projects worth Rs1,775.857 million will be executed in petroleum sector during the current fiscal year 2021-22 in order to achieve self-sufficiency in the energy sector. According to official documents, the government has allocated Rs40 million in the Public Sector Development Programme (PSDP 2021-22) for a new project, under which development of Strategic Underground Gas Storage…
Read MorePLL ‘caused loss of Rs25b’ in LNG imports
The government has suffered a loss of over Rs25 billion because of the sate-run Pakistan LNG Limited’s (PLL) failure in making timely arrangement for the import of the commodity, the Public Accounts Committee (PAC) was informed on Wednesday. During the last few months, the PLL had cancelled cargoes and then awarded them to LNG traders after a few days at…
Read MoreCCoE approves IGCEP with major focus on clean energy
Islamabad: Cabinet committee on energy (CCoE) on Thursday approved the Indicative Generation Capacity Expansion Plan – known as IGCEP 2021-30 which puts a major focus on clean energy (hydel, Solar, Wind, Nuclear) by the year 2030. It also puts emphasis on generating new electricity projects with the least cost basis. IGCEP envisions the commissioning of a portfolio of new generation…
Read MoreGovt seeks to cut power subsidies
The Monetary and Fiscal Policies Coordination Board on Wednesday agreed to reduce electricity subsidies by Rs170 billion and also discussed the possibility of scaling back grants for subjects that fall in provincial domains. The board meeting also discussed the southbound movement of the rupee and its future outlook, which the State Bank of Pakistan (SBP) governor described stable, sources told…
Read MoreDoes Pakistan need electric vehicles?
Electric Vehicles (EVs) have already caught the interest of large populations of the developed countries and the Pakistani public as well awaits with excitement. Tesla has surpassed all international car manufacturing companies in terms of market capitalisation. The financial incentive in the form of hard cash given by the western governments to the consumers has been the key factor in…
Read MorePower sector blamed for challenges faced by LNG supply chain
The petroleum division on Wednesday blamed the power sector for most of the challenges faced by the liquefied natural gas (LNG) supply chain and said the Frontier Works Organisation (FWO) had given monopoly through 10 fuel stations on the motorway to troubled Hascol as subsidiary. Testifying before the Senate Standing Committee on Petroleum and Natural Resources, Petroleum Secretary Dr Arshad…
Read More