Power Companies Seek 116pc Higher Fuel Cost Charges

Despite 67 per cent power supplies from cheap domestic resources with static prices, ex-Wapda distribution companies (Discos) have sought almost 116pc increase — Rs4.33 per unit (kWh) — in fuel price adjustment for electricity they sold in November to grab around Rs36 billion additional funds. The National Electric Power Regulatory Authority (Nepra) has accepted their petition for public hearing on…

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OIC Agrees to Setup Humanitarian Trust Fund for Afghans

A specially convened meeting of the 57 member states of the OIC Sunday vowed to play a leading role in the delivery of humanitarian assistance to the people of war-torn Afghanistan and unanimously agreed on establishing a humanitarian Trust Fund, launching a Food Security Programme and engaging with the World Health Organization for securing vaccines and medical supplies. The meeting…

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World Bank Approves $195m for Pakistan’s Energy Sector

The World Bank’s Board of Executive Directors on Saturday approved $195 million in financing to support Pakistan in improving electricity distribution and implementing energy sector reforms to increase service quality for consumers. According to a statement issued by the international financial institution, the Electricity Distribution Efficiency Improvement Project (EDEIP) will help distribution companies improve operations to manage the electricity supply…

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Punjab’s First Stubble-Based Bio-CNG Plant on Track

Punjab’s first stubble-based bio-CNG plant is collecting paddy straw from agricultural sites in preparation for commissioning in January. Officials at the plant in Sangrur have already collected around 10,000 tonnes of paddy straw for their operations, the reported. The plant will produce more than 33 tonnes of CBG or bio-CNG per day and is capable of collecting and utilising over 100,000…

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Engro mulls building onshore LNG terminal costing up to $600mln

engro

Engro Corporation and Royal Vopak are evaluating the process of setting up Pakistan’s first multi-functional onshore LNG terminal along with its existing Floating Storage Regasification Unit (FSRU-based) terminal with an estimated capital expenditure of around $500-600 million dollars. It would offer regasification, bunkering and LNG trucking services. The federal government has also asked the company to review its expansion plan,…

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Petroleum Pricing Some Respite

petrol

The respite in global crude oil price finally offered a breather to retail gasoline prices, without the government having to cut down on petroleum taxes. The reduction of Rs5/ltr (3 percent) for December’s last fortnight is the first in seven fortnights. A significant depreciation in rupee’s value against the greenback has taken some of the sheen away, as PKR depreciation…

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