The country’s energy sector circular debt has increased by over 2000 per cent to Rs 2.280 trillion in FY 2020-21 from Rs 105 billion in 2008 due to variety of factors including Transmission and Distribution (T&D) losses. This information was shared by the Power Division with the Senate Standing Committee on Power, chaired by Senator Saifullah Abro, soon after a…
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Lahore Chamber of Commerce and Industry (LCCI) president Mian Tariq Misbah has welcomed the execution of renewable energy projects under the China-Pakistan Economic Corridor (CPEC) and said that the hydel power projects were necessary to cope with the future energy and water challenges. “The CPEC has brought renewable energy projects and improvement of the transmission system. These are good for…
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In contrast to government hopes for a strong start to the new fiscal year, the large-scale manufacturing (LSM) sector contracted 4.9% in July 2021 over the preceding month. Three reporting sources – the Oil Companies Advisory Committee (OCAC), the federal Ministry of Industries and the Provincial Bureaus of Statistics – reported an overall negative growth in the production by industries…
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The export-oriented industries of Karachi have expressed annoyance due to sheer discrimination and dubious conduct on the part of the. The ministry disregarded the summary approved by the Economic Coordination Committee (ECC) of the Cabinet, which has uniformly approved regasified liquefied natural gas (RLNG) tariff at $6.5/MMBTU all inclusive to the export-oriented sectors during the financial year 2021/22 to apply…
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K-Electric’s recent submission of its financial results to the PSX reported a profit of PKR 11.9 billion, a significant improvement from the loss of PKR 2.9 billion reported in the previous fiscal year. In itself, the number will have us believe that the company’s financial position is remarkable, but a comparison with other private sector entities shows that this is…
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The rising prices of the Liquefied Petroleum Gas (LPG) has added to woes for the people who have urged the authorities concerned to take effective measures for bringing down the commodity at an affordable level. “The prices of edibles are already high and the unbridled rising trend in LPG prices has aggravated the problems further for people especially living in…
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ACWA Power International, one of Saudi Arabia’s main vehicles for building renewable energy projects, is set to raise up to 4.55 billion riyals ($1.2 billion) in what would be the biggest offering in Riyadh since Saudi Aramco’s listing. The Riyadh-based utility, half-owned by the kingdom’s sovereign wealth fund, has set the price range for its offering between 51 riyals and…
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The production of iron and steel, with billets/ingots mainly used in the construction industry, in the last 10 years swelled by 196 per cent to 4.777 million tonnes in FY21 from 1.616m tonnes in FY12. H/CR sheets/strips, coils/plates, also known as flat steel products for production of electronics, surged to 3.296m tonnes in FY21 from 1.850m tonnes in FY12, Pakistan…
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he Federal Government is likely to amend Second Schedule of Petroleum Products (Petroleum Levy) Ordinance, 1961 aimed at including the name of PLL in it and allow Oil and Gas Regulatory Authority (Ogra) to determine RLNG price on behalf of the company for 900 MW RLNG-fired plant of Karachi Electric (KE), sources close to Secretary Petroleum told Business Recorder. Sharing…
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Senate Standing Committee on Petroleum Tuesday directed the state-owned Oil and Gas Development Company Limited (OGDCL) to expedite hydrocarbon exploration activities in potential areas aimed at meeting the country’s growing energy needs in a more effective manner. The committee meeting, chaired by Muhammad Abdul Qadir, was given a detailed briefing by the company’s top management about working, production and field…
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