The caretaker government is poised to present a plan to the Economic Coordination Committee (ECC) today, in accordance with IMF directives, aiming to increase gas prices further. The proposal follows the recent recommendation by the Oil and Gas Regulatory Authority (OGRA) for a 23.16% average hike in gas prices effective from January 1, 2024. Under the proposed plan by the…
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Attock Refinery Limited announced on Monday that it has postponed the scheduled month-long closure of certain units for maintenance by a week. Originally planned to begin on February 10, the annual turnaround will now commence on February 18, as per the company’s notice to the Pakistan Stock Exchange. The decision to delay the maintenance shutdown was made in response to…
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The United States has proposed an independent investigation into claims of election irregularities in Pakistan, suggesting that the country’s legal system should be the first to address the issue. State Department Spokesperson Matthew Miller stated during a press briefing that allowing the legal system in Pakistan to play out would be the appropriate initial step. Responding to inquiries about US…
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The Ministry of Energy (Petroleum Division) has disseminated spot LNG price projections to Sui gas companies, the National Transmission and Despatch Company (NTDC), and the Central Power Purchasing Agency-Guaranteed (CPPA-G) until September 2024. As per projections by M/s Pakistan LNG Limited (PLL), the anticipated spot LNG prices from March to September 2024 are: March-April: $9.43/MMBTU, May: $8.81/MMBTU, June: $8.39/MMBTU, July:…
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The International Monetary Fund (IMF) has declined Pakistan’s proposals aimed at addressing the energy sector’s Rs1.3 trillion circular debt and reducing electricity prices for industries. Nathan Porter, IMF’s Mission Chief to Pakistan, expressed skepticism about the proposals, stating that they would burden residential consumers and pose fiscal risks. Porter emphasized that the proposed industrial tariff reduction plan fails to tackle…
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Pakistan is grappling with a historic debt burden, reaching a staggering Rs81.2 trillion, which surged by over 27% in the past year alone. The State Bank of Pakistan‘s latest bulletin reveals the alarming increase, with debt and liabilities climbing by another Rs17.4 trillion by the end of December, significantly outpacing previous rates of growth. The unprecedented level of debt, including…
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The Board of Directors (BoD) of Dawood Lawrencepur Limited (DLL) has entered into a Share Purchase Agreement (SPA) with Artistic Milliners (Pvt) Ltd for the sale of its entire shareholding in Tenaga Generasi Limited (TGL). The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “The BoD of DLL has approved entering into…
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The Council is looking to woo the IMF with a unique new solution they are proposing Since its inception, the Special Investment Facilitation Council (SIFC) has looked to expand itself and take over the reins of the economic underpinnings of the country with limited success. The military and bureaucracy based chimera has looked to stimulate the economy while looking to…
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In a significant move towards sustainable energy solutions, K-Electric (KE) and Hub Power Company Ltd have recently inked a memorandum of understanding (MoU) to delve into the potential for adopting affordable electricity through the conversion of the Hub plant to locally sourced Thar coal. Aligned with KE’s strategic vision to integrate power generation from domestic resources into its energy portfolio,…
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In a contentious debate surrounding the environmental impact of recent general elections in Pakistan, activists advocating for environmental preservation have alleged that a staggering 49,600 trees were cut down to produce paper for ballots and related documents. However, experts have rebuffed these claims, citing the country’s reliance on paper imports and recycling practices for electoral materials. Contrary to assertions of…
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