OGRA strongly rebut the speculations on Petrol/diesel shortages. The country has sufficient petrol and Diesel stocks for meeting demand for 18 and 37 days respectively. Furthermore, ships carrying 101,000MT petrol is at berth/outer anchorage. The local refineries are playing their due role in meeting demand of petroleum products. Spokesman OGRA Imran Ghaznavi
Read MoreMonth: January 2023
Pakistan blackout: Cash-strapped nation cuts power to save money, then can’t turn it back on
Hospitals, schools, factories and tens of millions of homes across Pakistan were left without power Monday after the country’s electricity grid suffered a nationwide outage. The huge blackout, right as parts of the country struggle through a harsh winter, was blamed by the country’s federal energy minister Khurram Dastgir-Khan on a surge that knocked out the network. In a bid…
Read MoreTurkey cancels Sweden minister visit over planned protest
Turkey on Saturday called off a visit by Sweden’s defence minister over a planned demonstration by right-wing activists in Stockholm. Turkey has been angered by permission obtained by Rasmus Paludan, a Swedish-Danish politician whose anti-Islam actions sparked riots across Sweden last year, to stage a protest in front of its embassy in the Swedish capital. A day after summoning the…
Read MoreOil stocks feared to dry up
The Petroleum Division has warned the central bank that the stocks of petroleum products may dry up as banks are refusing to open and confirm Letters of Credit (LCs) for imports. Like other sectors, the oil industry in Pakistan is facing hurdles to opening LCs owing to the US dollar shortage and restrictions put in place by the State Bank…
Read MoreNo fuel crisis in Pakistan’: Govt rubbishes rumours of oil shortage
Responding to the rising panic in the oil industry and amongst consumers, the federal government Friday ruled out any possibility of a fuel crisis in Pakistan, stating that the oil reserves required by the country were well in stock. The ministry of petroleum, in a statement, strongly denied the fears of petroleum shortage in the country. The statement termed the…
Read MoreImport of spare parts: LC: AGL seeks Power Division’s help
M/s Attock Gen Limited (AGL) has sought the Power Division’s help in opening of Letter of Credit (LC) for import of necessary spare parts for periodic and breakdown maintenance of plant. The company maintains that the delay in the opening of LC is going to hamper the plant’s availability for power generation if remedial measures are not taken immediately. Sharing…
Read MoreMonetary Policy Announcement
The Monetary Policy Committee (MPC) of State Bank of Pakistan (SBP) will meet on Monday, January 23, 2023 to decide about Monetary Policy. Governor SBP, Mr. Jameel Ahmad will announce the Monetary Policy decision at a press conference on the same day after the MPC meeting.
Read MoreChairman WAPDA visits Tarbela 4th, 5th Ext.
Tarbela 5th Ext. to commence generation in July 2025
Chairman WAPDA Engineer Lt Gen Sajjad Ghani (Retd) visited Tarbela 4th Extension Hydel Power Station (T4) and inspected operation and maintenance (O&M) activities of the power station, commissioned in 2018. He also had a detailed round of the under-construction Tarbela 5th Extension Hydropower Project (T5) to review construction activities on the sites. The GM (Tarbela Dam), accompanied by the project…
Read MoreUK Commits $40 Million To Help Industry Cut Fossil Fuels
The UK government will support British industries—including the construction, mining, and quarrying sectors—with funding of $40.2 million (£32.5 million) to reduce their reliance on fossil fuels. The funding, announced on Friday, will support the development of clean alternatives to oil products to power operations and help industry cut emissions and energy costs, the UK government said. The funds will go toward developing…
Read MoreGermany Eyes 30GW In Wind Power For 2030
Germany has come up with development plans for offshore wind turbine sites, eyeing 30 GW of installed power capacity by 2030, the Economy Ministry said in a Friday statement, according to Reuters. The Federal Maritime and Hydrographic Agency’s (BSH) plan allows for even more wind power capacity, with adequate space for 40GW or even 50GW by 2035—although the details of…
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