Category: Recent Post

In its Asian Development Outlook (ADO) Supplement, the Manila-based lending agency also lowered economic growth forecast for South Asia to 8.6 per cent, from its earlier projection of 8.8pc, and increased inflation forecast to 5.9pc, up from 5.8pc rate of inflation it had earlier estimated for current year. “Much of the forecast upgrade reflects a higher projection for Pakistan, where adjustments to energy tariffs and higher global commodity prices are expected to exert upward pressure on domestic prices,” reported the ADO supplement without actually projecting an inflation number. In September,…

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Pakistan is working to boost the capacity of its shipping fleet to draw on its strategic geographical position and help tackle the effects of a global supply chain crisis, the country’s maritime minister told Reuters. Pakistan has a coastline of over 1,000 kilometres (621 miles) and three major ports, including Karachi. It is two days sailing time from destinations in Africa and the Middle East and its western shoreline is close to the Strait of Hormuz oil chokepoint. A surge in demand for retail goods from people stuck at home…

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Federal Minister for Information and Broadcasting Fawad Chaudhary said on Tuesday that deregulation of gas sector is going to take place and private companies would provide gas to the people after importing it. While briefing the media about the decisions taken by the federal cabinet chaired by Prime Minister Imran Khan, he said the Oil and Gas Regulatory Authority’s (OGRA’s) annual report 2019-20 was presented to the federal cabinet and for the first time a major reform has been taken by issuing license to 10 companies for supplying gas to…

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Noreen Fatima, a housewife, said “Every time when we approach LPG dealers they inform us about new prices. When we make argument then they suggest us to contact any other dealer.” “We bought LPG at Rs250 per kilogramme last time and now they are charging Rs265 for one kilogramme to cash in on the miseries of the people,” she said. She said “When we see the official rates that are too below from the rates being charged by the LPG dealers. So there is a need to keep vigil over…

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Egypt’s long-suffering LNG industry is finally experiencing some success as it takes advantage of European gas market constraints and exploits regional geopolitical developments. Cairo’s dream of becoming a global LNG player was derailed by a combination of the Arab Spring, conflict with Turkey, and then COVID demand destruction. Now, however, the country’s LNG industry is poised for major growth, with its largest producer, EGAS, having just offered a cargo on a free-on-board (FOB) basis for loading over December 28 and 29 from its Damietta LNG plant. The EGAS LNG tender…

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The highly coveted and most prestigious forum for the energy sector across the globe, S&P Global Platts Energy Awards announced K-Electric as the winner for its Roshni Baji Women Ambassador Program under the Corporate Social Responsibility – Diversified Program Category. Often described as the “Oscars” of Energy, the 23rd Annual Awards program was held at the Cipriani Wall Street in downtown Manhattan, United States. Out of 190+ companies from 29 countries shortlisted as the finalists, only 20 companies from 11 countries were awarded under 22 different categories. KE made it…

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President of the Federal Petroleum Corporation of Pakistan (FPCCI), Mian Nasser Hyatt Maggo, has welcomed the visit of Masroor Khan, Chairman of the Oil and Gas Regulatory Authority of Pakistan (OGRA), to the FPCCI Headquarters at Federation House in Karachi for a consultative session on the burning issue of increasing gas shortages for industry and end-users. He expressed his surprise at the purchase of LNG at a rate of $30.6 per MMBTU, claiming that this rate will jeopardize Pakistan’s fuel supply security as well as its foreign exchange reserves. Mian…

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Sindh Chief Minister Syed Murad Ali Shah on Monday said that achievements of Sindh government, include power generation from Thar coal, restoration of law and order in post-2008 scenario and establishment of powers plant, construction of roads and bridges on river Indus on PPP mode. This he said while talking to Assistant Superintendents of Police Inspectors (ASP) of Specialized Training Programme at National Police Academy here at CM House. The meeting was attended by Chief Secretary Mumtaz Shah, IG Police Mushtaq Maher, ACS Home Qazi Shahid Parvez, faculty members of…

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The domestic production of high-speed diesel (HSD) and petrol could potentially go up by 60 per cent and 48pc, respectively, leading to a significant foreign exchange saving provided the local refineries operated at optimum capacity. The oil import bill, particularly of refined petroleum products, has been the largest chunk of about 83pc increase in imports in the first five months (July to November) of the current fiscal year, causing unrest among the government’s ranks, as money and share markets nosedived with the start of this month. Adviser to the Prime…

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PAKISTAN’S energy sector is in a total mess, riddled with shortages, inefficiencies, massive debt, dependence on imported fossil fuels etc. We have consolidated different energy-related ministries and institutions under one ministry but failed to develop a comprehensive and integrated policy for ensuring national energy security. The lack of a well-defined national energy strategy also means the absence of a proper mechanism for coordination among different entities, which mostly work in silos and often in opposite directions. Thus, the government has never been able to do more than firefight at times…

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