The supply of expensive liquefied natural gas (LNG), during the past four seasons, to domestic consumers has resulted in a steep hike in circular debt, trapping gas-utilities and Pakistan State Oil (PSO). The gas sector is currently facing circular debt of Rs1.5 trillion, with LNG being the major contributing force. Additionally, captive powerplants and fertiliser plants have been receiving gas…
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Pakistan Oilfields Ltd (POL) said on Friday production from the Tolanj West-2 well has started “significantly ahead” of the original plan. Earlier, the company announced on Aug 16 and Aug 25 the testing results of Tolanj West-2 well. It said at the time that production from the well was expected to start from December 2022. “However, with the best efforts…
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As the country’s fiscal deficit surged by 43 per cent in the first quarter of the current fiscal year, the government on Friday decided to increase Petroleum Development Levy (PDL) by about 67pc (Rs20 per litre) on top quality petrol used in luxury vehicles. The decision to increase PDL on Research Octane Number (RON) 95 and 97, commonly known as…
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Federal minister for Power Engr. Khurram Dastgir Khan held a meeting with a delegation of European Parliamentarians here today.Federal minister briefed the delegation about the rehabilitation efforts done in flood affected areas. The tireless efforts of Ministry of Energy enabled early restoration of electricity in the worst hit areas. Minister highlighted that climate change is no more a theory but…
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The National Electric Power Regulatory Authority (Nepra) has refused to endorse the Pakistan Bureau of Statistics (PBS) claim that electricity tariffs rose by 89.59 percent in October 2022 while calculating the Consumer Price Index for October 2022. We believe that PBS has done something wrong in its calculations due to which it showed an increase of 89.59 per cent which…
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The country’s influential five zero-rated sectors, referred to as export-oriented sectors will be charged Rs 19.99 per unit electricity all-inclusive whereas domestic consumers are being charged over Rs 40 per unit. Interaction with power sector experts and officials revealed that the government had budgeted Rs 20 billion subsidy to provide concessional electricity to five zero-rated sectors including textile, carpets, sports,…
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Inefficiencies in the power sector is the bigg-est headache for any government. The estimated direct and indirect fiscal cost (including circular debt and subsidies) of the power sector is at Rs9.4 trillion in the last fifteen years. The usual criticism is on the transmission and distribution system and inefficient discos. There is no denying these issues. However, not much heed…
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The production of hydrocarbon from the Tolanj West -2, a development well in Tal block located in Kohat Plateau, Khyber Pakhtunkhwa, has successfully commenced significantly ahead of the original plan, Pakistan Oilfields (POL) said in a filing sent to the bourse on Friday. POL, one of the largest Exploration & Production (E&P) companies in the country, shared that the production…
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President Azad Jammu and Kashmir Barrister Sultan Mehmood Chaudhry, while encouraging the American investors to invest their capital in Azad Kashmir on Thursday, has said that the AJK had immense investment potential especially in the tourism sector. While talking to a delegation of investors led by Nick Tuma in US City, the AJK President said, Azad Jammu and Kashmir is…
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The National Electric Power Regulatory Authority (Nepra) on Thursday issued new rules allowing new market players to have non-discriminatory access to existing transmission and distribution networks currently maintained mostly by the public sector entities and K-Electric and provide electricity to bulk consumers. The Open Access (Interconnection and Wheeling of Electric Power Regulations, 2022 would practically end exclusivity rights of the…
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