Day: October 4, 2023

Minister spells out govt strategy to meet energy needs

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Energy-Minister-1

ISLAMABAD, Oct 4 (APP): Caretaker Minister for Energy Muhammad Ali has spelled out the government strategy to meet the future oil and gas needs in an efficient manner by stepping up hydrocarbon exploration activities in potential areas across the country. “We are coming up with a policy for tight gas, policy for shale gas, we have already announced bids for onshore exploration and in December for offshore exploration,” he said in an interview with the Emirates News Agency (WAM) on sidelines of the ADIPEC Conference at Abu Dhabi. He said…

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Renewable energy benefits: Leveraging local capacity for small-scale hydropower

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renewable-energy

In the pursuit of a sustainable energy future, small-scale hydropower is emerging as a transformative force with the potential to revolutionise the energy landscape while strengthening local capacities and capabilities. This new comprehensive study focuses on the entire value chain of small-scale hydropower, from production and installation to operation. It highlights the critical role of human resources and skills, enabling informed decisions on domestic value creation opportunities to pave the way for a brighter, more sustainable future. The report also underscores the direct link between small-scale hydropower deployment and the…

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Petroleum sales fall to 44-month low

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petroleum-group

Record high prices drive down oil demand to 1.06m tons in Sept KARACHI: The demand for petroleum products in Pakistan hit a 44-month low at 1.06 million tons in September 2023, primarily due to a surge in prices in line with global uptrend. Topline Research analyst Myesha Sohail, in a commentary, said sales of petroleum products declined to the lowest level since the Covid-19 lockdown in March 2020, with petrol sales down 23% month-on-month (MoM) and diesel sales down 28% MoM. The decrease was primarily attributed to record high prices,…

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Special forensic audit of SSGCL, Pesco, Hesco ordered

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Shamshad-Ather

ISLAMABAD: Finance Division has directed the authorities to conduct special forensic audit of Peshawar Electric Supply Company (PESCO) and Hyderabad Electric Supply Company (HESCO). At a recent meeting presided over by the caretaker Finance Minister, Dr Shamshad Akhtar, it was decided to conduct special audit of SSGCL, PESCO and HESCO. Power sector quagmire: Implementation of 3-pronged strategy begins Finance Division has drafted the following Terms of Reference (ToRs) for the special forensic audit of both power sector entities where losses are too high as compared to other power Distribution Companies:…

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Solar panels import scam: FBR, SBP heads to brief Senate panel today

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solar-panel

ISLAMABAD: Chairman Federal Board of Revenue (FBR) and Governor State Bank of Pakistan (SBP) will brief Senate Standing Committee on Finance today (Wednesday) on the various reports with regard to massive money laundering by solar panel importers. A meeting of the Standing Committee on Finance and Revenue will also be given briefing on the effectiveness of solution of political exposed persons’ (PEP) issue, proposed by the Committee and the resultant efficacy of the specialised desk to resolve the issue. The committee will also be given briefing on the causes of…

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