The Oil and Gas Regulatory Authority (OGRA) announced its decision to raise the average price of gas by as much as Rs13.42, to the horror of industries across the country. Given that billions have been spent in recovering losses as well as in improving supply and distribution systems, there should be no reason for such a dramatic hike. If we…
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ISLAMABAD: The National Transmission and Dispatch Company (NTDC), a subsidiary of the Ministry of Energy, has shortlisted a panel of four senior officers, including a candidate demanding extraordinary salary, for appointment as the company’s managing director. Among the four nominations, Aizaz Ahmed, a candidate working abroad, has demanded $15,000 (approximately Rs2.4 million) salary plus MP1 scale benefits. According to sources…
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QUETTA: The Taraqee Foundation, an NGO, in collaboration with United Nations Development Programme, Pakistan, Pakistan Poverty Alleviation Fund (PPAF) and Forest and Wildlife Department of Balochistan, has launched a mass trees plantation campaign titled “Chand Meri Zameen, Phool Mera Watan”. The NGO plans to plant 15,000 saplings in Quetta city, 35,000 in Maseelah, 25,000 in Band Khushdil Khan and 10,000…
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The two-year-long controversy over unaffordable and expensive electricity generation contracts has almost come to an end with the signing of revised agreements with 46 private investors and dozens of public-sector entities. The government says it has been able to achieve savings of about Rs770 billion over the average remaining 20-year contractual life of about 8,000 megawatts of independent power producers…
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ISLAMABAD: The government is likely to sublet unutilised and surplus capacity at existing Liquefied Natural Gas terminals to cut LNG tariff and restrict their further expansion to give a clear signal to private parties for investments in commercial terminals. An inter-ministerial committee, led by Planning Commission’s deputy chairman Dr Jahanzeb Khan and also comprising secretaries of finance, petroleum and maritime…
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The sudden disruption to our lives caused by coronavirus forewarns of the havoc which can be unleashed by impending climate related disasters. The varied impacts of climate change are already being experienced, and are expected to get worse, if the world does not get its act together. In fact, some underlying causes of climate change such as deforestation and factory…
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There were times when our energy sector was rated in the region as one of the best performing and forward looking sectors. It was a great blend of well-performing entities of private and public sectors. Public sector entities such as Southern Gas Company (SSGC), Sui Northern Gas Pipeline Company (SNGPL), Pakistan Petroleum Limited (PPL), Oil and Gas Development Company Limited…
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Moscow, (APP – UrduPoint / Pakistan Point News – 12th Feb, 2021 ):Russia’s largest oil producer Rosneft on Friday announced a nearly 80 percent drop in net profit in 2020, following a record plunge in crude oil demand caused by the coronavirus pandemic. The state-controlled producer declared a net profit of 147 billion rubles ($2.0 billion) in 2020, down 79…
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KARACHI: Sindh Chief Minister Syed Murad Ali Shah said on Friday that given the vast resources of the province, Pakistan hasthe potential to become an exporter of electricity. He expressed this belief while addressing a reception hosted for the heads of foreign delegations visiting Karachi to partake in the seventh edition of Aman-2021 exercise, in which 45 countries are participating.…
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ISLAMABAD: The circular debt is set to alarmingly increase up to Rs4,936 billion by financial year 2025 with an increase of 2.04 times from the current level of Rs2,400 billion, highlights the report on Pakistan’s Power Sector Circular Debt Causes, Consequences, and Remedies prepared by Pakistan’s leading economist Sakib Sherani of Macro Economic Insights (MEI). Sherani served as Member, Prime…
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