The senate standing committee on power has observed that the number of employees in government-owned power generation companies (Gencos) have exceeded their need and recommended a cut down on the workforce, adding that doing so would lighten the burden on the national exchequer. A meeting of the senate panel, held on Thursday, under the chairmanship of Senator Saifullah Abro also…
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THIS is now getting suspicious. What looked like rank incompetence about a year ago is now beginning to smack of malfeasance. In case you have not had a chance to follow how this government is repeatedly fumbling the business of LNG imports, here is a snapshot of the latest episode on In mid-July, Pakistan State Oil tendered in the spot…
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The government on Thursday constituted a couple of committees on Liquefied Petroleum Gas (LPG) policy. A meeting presided over by Petroleum Secretary Dr Arshad Mahmood and attended by almost all the stakeholders asked the producers, importers, marketing companies, distributors and the regulator to suggest incentives they required, investments they would make in return and what benefits these would bring to…
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State-run Pakistan State Oil (PSO) on Thursday got a better offer for Liquefied Natural Gas (LNG) from longtime friendly supplier Qatar Petroleum (QP) for delivery in the last week of current month at $15.93 per unit (22.13pc of Brent) that is still the highest-ever LNG price in the country. While accepting the lowest bid among three others, the country’s largest…
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Pakistan can achieve significant gains by moving towards decarbonisation of its energy sector, said Regional Vice President of the World Bank Group for South Asian Region Hartwig Schafer. “Glad to know that climate change is a top priority for the government,” said Schafer in a tweet post after his meeting with Special Assistant to the Prime Minister on Climate Change…
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The electric power sector of Pakistan has been plagued by multiple issues since the late 90s entailing both availability and affordability of energy for sustainable development in Pakistan. The recent remarks by the Special Assistant to the Prime Minister (SAPM) for Power and Petroleum, Tabish Gauhar, and evidence produced by several eminent economists provide a detailed root cause analysis of…
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ABU DHABI, (UrduPoint / Pakistan Point News / WAM – 04th Aug, 2021) Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, attended on Wednesday the launch of the National Water and Energy Demand Management Programme, which was approved by the Federal Cabinet to enhance the efficiency of the three most energy-consuming sectors by 40 percent. Rolled out in…
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A consortium of Chinese state-owned companies has offered to set up a $15 billion oil refinery complex that may provide some relief to Pakistan, which is grappling with the challenge of huge outflows of foreign investment in recent years. The China Petroleum Pipeline Engineering Company LTD (CCP) and China Zhen Hua Import and Export Corporation have shown interest to invest…
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The government’s decision to dishonour agreements with a dozen power plants may seriously dent its reputation, lead to loss of hard-earned gains of billions of rupees annually besides exposing it to paying over Rs22 billion to power plants to settle international arbitration awards. Six months ago, the government had won significant concessions from the Independent Power Producers (IPPs) by applying…
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Long-running inquiries by government departments into the oil crisis witnessed in June 2020 are hindering foreign direct investment (FDI) in oil marketing companies (OMCs) sector of Pakistan. In a statement on Wednesday, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Nasser Hyatt Maggo expressed concern over the “unfair practices of government departments and unjust treatment of smaller…
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