Fuel Shortage Surge Electricity Shortfall

The electricity shortfall in the country has reached beyond 6,500 megawatts (MW) after sources in the power division blamed it on a shortage in fuel supply to power plants. According to sources in the power division, the overall demand for electricity in the country stands at 26,000 MW against the production of 19,420 MW. “The power plants are not getting…

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Fauji Oil Terminal to build 6 storage tanks at Port Qasim

Fauji Oil Terminal and Distribution Company (FOTCO) has plans to invest in developing six buffer storage tanks to address ship traffic congestion at Port Qasim and handle additional cargoes. “We have already pitched this plan to Oil and Gas Regulatory Authority (OGRA) seeking finalisation of pricing mechanism,” Adnan Samdani, General Manager of FOTCO told The News in an exclusive interview…

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CPEC is on its way

Is the China-Pakistan Economic Corridor (CPEC) going as planned? Since it was launched in 2013, the flagship project of the Belt and Road Initiative (BRI), has been under the watchful eye of regional and global powers, and an occasional target for terrorists. Pakistan has hinged its economic progress on the rapid implementation of CPEC. Initially valued at $47 billion, the…

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Mangla Hydel Power Station

Two refurbished units commissioned with USAID’s grant Islamabad, May 23, 2022: Pakistan Water and Power Development Authority (WAPDA) has successfully commissioned generating units No. 5 and 6 of the Mangla Hydel Power Station, recently refurbished with the financial support of United States Agency for International Development (USAID). With refurbishment, installed generation capacity of each unit has increased to 135 (Mega…

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Govt mulls reduced working days to save fuel

Petrol-Price

Amid rising oil consumption and import bill owing to higher international prices, the government is examining the possibility of fuel conservation through reduced working days a week. It hopes to save an estimated annual foreign exchange of up to $2.7 billion. The estimates are based on three different scenarios in terms of working days and fuel conservation prepared by the…

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World Bank’s RISE-II: Pakistan told it can lose funding if prior actions not completed

World Bank (WB) has warned the government that Pakistan will lose a part of FY 23 funds from International Development Association (IDA) for not completing Prior Actions (PAs) under second Resilient Institutions for Sustainable Economy (RISE-II). The Bank conveyed this message to Finance Minister Miftah Ismail in a letter dated subsequent to his recent meeting with the Bank’s Vice President…

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