Pakistan’s economic woes are aggravating with shrinking foreign exchange reserves, rising inflation, historic currency devaluation, and escalating current account deficit – forcing the country once again to borrow from external sources such as the IMF and Saudi Arabia. Trade deficit has registered an alarming increase by more than 117.25 percent in the first five months of the current fiscal year.…
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Makhdoom Hashim Javan Bakht, Punjab’s finance minister, on Thursday assured All Pakistan Textile Mills Associations (APTMA) for pursuing issue of gas shortage to the export industry with the federal government. He was talking to a APTMA delegation led by central chairman Abdul Rahim Nasir and other office-bearers. The minister assured the delegation of full support from the provincial government to…
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Industrialists have voiced fear that the ongoing gas crisis will deal a lethal blow to the country’s gross domestic product (GDP) growth, bring down export orders and increase the cost of production for the business community. In a statement on Thursday, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Nasser Hyatt Maggo stated that the failure of the government…
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The Provincial Disaster Management Authority (PDMA) has prepared the Khyber Pakhtunkhwa Winter Contingency Plan calling for the establishment of air quality monitoring stations in major cities of the province. According to the PDMA, the initiative is meant to assess preparedness at provincial and district levels to handle emergency situations. A report carrying details of the contingency plan has declared snowfall,…
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Sindh Governor Imran Ismail on Thursday assured a delegation of compressed natural gas (CNG) dealers for taking up the issue of pump closures and their proposals relating to smart load management during his meeting with Prime Minister Imran Khan in Islamabad on Friday. During a meeting with a four-member delegation of the CNG Association at the Governor House, the governor…
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The Cabinet Committee on Energy (CCoE) on Thursday issued directions for activation of a task force as required under LNG Policy 2011 and asked the ministries of Maritime Affairs and Energy to come up with their considered views with clarity on how to allow additional future Liquefied Natural Gas (LNG) imports through Gwadar Port. The meeting of the CCoE presided…
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State-owned companies are paying the price of overcoming the gas crisis in winter season, which adds billions of rupees to the circular debt due to diversion of expensive liquefied natural gas (LNG) to residential consumers without any legal framework. The provision of LNG to the domestic sector is going to hit the public gas utilities hard, as the imported gas…
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Natural gas prices see-sawed Tuesday as traders weighed modest near-term domestic heating needs against an anticipated freeze early next month and surging demand for U.S. liquefied natural gas (LNG). Ultimately, the latter factors carried the day, and the January Nymex gas futures contract advanced 3.5 cents and settled at $3.869. February gained 1.6 cents to $3.774. At A Glance: U.S.…
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People need warm water especially for their morning baths, but the country has long depended on gas geysers, which have been rendered almost useless amid a worsening gas shortage. Since a total shift to electric geysers may prove too expensive, many consumers have shown keen interest in hybrid gas-electric geysers as well as small instant geysers. The hybrid geysers have…
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European and UK gas prices rocketed on Tuesday to all-time highs on strong winter demand and simmering geopolitical tensions between key supplier Russia and consumer nations. Europe’s reference Dutch TTF gas price jumped nearly 20 percent from Monday to hit 175.00 euros per megawatt hour in early afternoon trading. Meanwhile, UK prices leapt to 4.35 pounds per therm. Both markets…
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