Federal Minister for Planning, Development & Special Initiatives Asad Umar has emphasised that the state should own and operate selective enterprises to support economic growth, as the private sector has time and again failed to make necessary investment in potential sectors and played safe in Pakistan. Speaking at a webinar on ‘Role of the State in Economic Development’ organised by…
Read More
Special Assistant to the Prime Minister (SAPM) on Petroleum and Power Tabish Gauhar Friday said the Pakistan Tehreek-i-Insaf (PTI) government had devised a multi-pronged strategy to reform the gas sector and meet the country’s energy needs in an efficient manner. “Our government is determined to reform the gas sector and for this purpose, we have devised a strategic workstream that…
Read More
Just as natural gas has competed with coal as the prime fuel for electricity in the last decades, renewables are putting pressure on the blue, clean-burning source of energy. The competition is fierce and will likely get worse. Yet, it is still too early to discount gas. This was the message at the 36th International Gas Congress in Croatia, where…
Read More
The Petroleum Division has taken another U-turn in the new draft of the LPG Policy 2021, as it proposed local LPG price of around $80 over the international price. This means that LPG importers will be able to charge $80 above CP price. Saudi Aramco sets its propane term contract price, which is then followed by Pakistan. Now, the Petroleum…
Read More
Another brewing LNG crisis is most likely to hit the country again in September and October, as the government has refused to purchase 8 spot LNG cargoes for these months since the gas was offered at higher cost in range of $13.787-$16.0 per MMBTU (per million British thermal units). The Pakistan LNG Limited (PLL) — 100 percent state owned company,…
Read More
Pakistan Water and Power Development Authority (Wapda) has awarded a contract worth Rs1.14 billion for unified consultancy services for the Greater Karachi Water Supply Scheme (K-IV) to a joint venture through international competitive bidding. The joint venture includes one Austrian and two Pakistani firms. The unified consultancy services agreement consists of design review, detailed engineering design for conveyance system, allied…
Read More
German carmaker Opel said on Thursday that it would stop producing cars with internal combustion engines in Europe by 2028, one of the most ambitious greening targets in the accelerating shift to electric vehicles. Carmakers around the world have started setting timetables to phase out petrol and diesel vehicles in the face of increasingly strict anti-pollution standards put in place…
Read More
The Pakistan Railways (PR) is considering a proposal seeking termination of service contract with its oil supplier— the state-owned Pakistan State Oil (PSO)—and joining hands with any private sector oil marketing company (OMC) for better services in future. Keeping in view recommendations of a third party forensic audit, the Railways has also decided to modernise its all 14 fuel storage…
Read More
Regarding some reports in a section of media on lesser RLNG supply to the Power Plants in August, a spokesperson of the Ministry of Energy has clarified that Minister for Energy, Muhammad Hammad Azhar has already issued directions to SNGPL to provide them maximum gas supplies in order to ensure seamless power supply during summer months. Accordingly SNGPL has already…
Read More
The federal capital is abuzz with speculation that Special Assistant to the Prime Minister on Power and Petroleum Tabish Gauhar will be shown the door for allegedly failing to deal with the recent energy crisis which earned a bad name for the government, well informed sources told Business Recorder. The decision makers, sources said, have already begun contacting some experienced…
Read More
