The government has increased the allocation in the head of subsidy by 226.31 percent for various sectors for the next budgetary year, to Rs682 billion from Rs209 billion allocated for the outgoing fiscal. For the power sector, the allocation of subsidy has increased by 329.24 percent to Rs596 billion from Rs139.5 billion. Out of Rs596 billion, the amount of Rs245…
Read MoreYear: 2021
No forced load shedding in country during last 12 hours: Hammad Azhar
Federal Minister for Energy Hammad Azhar on Friday shared that there has been zero forced load shedding in the country during the last 12 hours. Taking to Twitter to share the details on power supply in the country, Hammad Azhar said that 1500 megawatt electricity was added in the last 48 hours to the national grid while more would be…
Read MorePro-growth, relief-oriented budget
The Pakistan Tehreek-i-Insaf (PTI) government on Friday unveiled Rs 8.4 trillion pro-growth and relief-oriented federal budget for the fiscal year 2021-22, with focus on pursuing all-inclusive, sustained and robust economic growth through comprehensive planning and development. The budgetary proposals were presented by Finance Minister Shaukat Tarin in the National Assembly, amid jeers from the opposition benches who shouted slogans and…
Read MorePakistan’s power crisis worsens, unannounced load-shedding continues unabated
Pakistan’s power crisis has gotten worse, with load-shedding extending up to several hours at a stretch in different cities. According to the latest figures provided by sources in the power division, the country is facing an electricity shortfall of somewhere between 7,000 and 8,000 megawatts. Due to a mudslide at the Tarbela Dam, power generation was stopped and machinery has…
Read MoreEconomic Survey: Nepra Issued 5,283 Net-Metering Licences For 90.15MW Installations
As the government is encouraging utilisation of renewable energy technology at the consumer end, The National Electric Power Regulatory Authority (Nepra) issued a total of 5,283 new licences for net-metering-based installation of approximately 90.15MW during the July 2020 to March 2021, the Economic Survey suggests. “As of 31st March, 2021, a total of 10,563 generation licences for net-metering-based solar installations…
Read MoreThermal power generation becomes largest source of power generation
Thermal power generation has become the largest source of power generation in national electricity generation mix as the shares of hydro, nuclear and renewable power have declined in FY2021 as compared to FY2020. According to Pakistan Economic Survey 2020-21, currently thermal has the largest share in electricity generation and its percentage share in FY2021 has increased by almost one percent…
Read MoreGlobal LNG Market Moves To Recover From 2020 Turbulence
The International Gas Union’s (IGU) recent report on world LNG markets found that the trade increased by only 1.4 mt to 356.1 mt compared to 2019 supported by increased exports from the US and Australia, together adding 13.4 mt of exports. Asia Pacific and Asia again imported the most volumes in 2020, together accounting for more than 70% of global LNG imports.…
Read MoreNAB takes custody of two more in Reko Diq case
An accountability court in Quetta remanded former chairman Balochistan Development Authority and former security officer of Tethyan Copper Company into National Accountability Bureau’s custody for 15 days in the Reko Diq scam case. The accused persons were arrested from Islamabad four days ago. During the hearing, Judge Munawar Shahwani approved the anti-graft watchdog’s remand plea. It is pertinent to mention…
Read MoreExxon Mobil vs. China Petroleum & Chemical: Which Oil & Gas Stock is a Better Buy?
Production cuts by OPEC+ countries, coupled with rising demand from reopening industries worldwide, are driving up oil prices. And oil’s upbeat prospects are helping the oil and gas industry reclaim investors’ attention. As such, we think popular oil and gas corporation Exxon Mobil (XOM), and China Petroleum & Chemical (NYSE:SNP), are well-positioned to capitalize on the industry tailwinds. But let’s…
Read MoreRecharge Pakistan to address environmental, water challenges
KARACHI: Water management is one of the biggest issues that Pakistan has been facing in recent decades. At the moment, our water storage capacity is close to 10 per cent, which is very low compared to the world, where the average is about 40pc. This was stated by Malik Amin Aslam, special assistant to the prime minister and federal minister…
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