ISLAMABAD: The K-Electric (KE) remained under attack on Thursday from consumers and the power regulator for prolonged load shedding in many parts of Karachi on the second day of public hearing on its request for Rs1.54 per unit increase in its electricity sale rates. The National Electric Power Regulatory Authority (Nepra) reserved the judgement and asked the power utility company…
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ISLAMABAD: Special Assistant to Prime Minister (SAPM) on Petroleum Nadeem Babar on Friday met with Turkmen delegation to discuss progress on the Turkmenistan-Afghanistan-Pakistan-India (Tapi) pipeline. Babar met with the visiting delegation, headed by Tapi Pipeline Company Ltd CEO Muhammetmyrat Amanov, which was also attending by Turkmen Ambassador to Pakistan Atadjan Movlamov, a news release said. Secretary Petroleum, Managing Director Inter…
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ISLAMABAD: Amid strong protest by the petroleum division and its corporate entities, the Cabinet Committee on Energy (CCoE) on Friday decided to exempt three Punjab-based power plants of 3,900mw from compulsory purchases of liquefied natural gas (LNG) quantities from January 2022. The move to change gas supply agreements (GSAs) of these government-owned power plants (GPPs) reportedly originated at the request…
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ISLAMABAD: The stay granted by the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) on enforcement of the award against Pakistan in the Reko Diq dispute carries certain conditions. A source privy to the development told Dawn that one of the conditions set by the World Bank-funded tribunal for international disputes was that Pakistan furnish an irrevocable bank guarantee amounting to 25…
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Sindh Information and Forests Minister Syed Nasir Hussain Shah has said that the Sindh government is pursuing its project of urban forests with utmost transparency and monitoring so to yield maximum results to improve environment of cities of the province. “The elements of transparency and monitoring should be there so that plantation done under the urban forests projects is visible…
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EDITORIAL: National Electric Power Regulatory Authority (Nepra) is to hold a public hearing on 21 September to consider its proposal to end K-Electric’s exclusivity over Karachi. The argument in favour of this proposal is that this would encourage competition in the sector which would benefit consumers, the prime objective of privatization today as opposed to the time when K-Electric was…
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ISLAMABAD: The Central Development Working Party (CDWP) on Wednesday cleared a total of seven development projects with a total cost of Rs57.78 billion. At a CDWP meeting presided over by Deputy Chairman Planning Commission Mohammad Jehanzeb Khan, four development projects with a cumulative estimated cost of Rs12.25bn were approved. Two other projects with a total cost of Rs33.43bn were referred…
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ISLAMABAD: The federal cabinet has decided to explore possibility of establishing land-based LNG terminals in future as Ministry of Defence (Pakistan Navy) allowed establishment of two terminals at Port Qasim on the recommendations of Ministry of Maritime Affairs (MoMA), well-informed sources told Business Recorder. ECC of Cabinet decision of March 5, 2019 duly ratified by the Cabinet on March 19,…
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KARACHI: State-owned Pakistan LNG Limited (PLL) has sought tenders from foreign suppliers to supply approximately 420,000 cubic metres of liquefied natural gas (LNG) for November, it was learnt on Tuesday. PLL invited bids from international suppliers for supply of three LNG cargoes on delivered ex-ship basis at Port Qasim. Cargo of 140,000 cubic meters each is required to be delivered…
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KARCHI: As of June 2020, Pakistan’s net oil reserves have declined by 5 percent to 540 million barrels, mainly owing to no significant production upgrade at the existing fields or addition of new ones to compensate for natural depletion of 4-5 percent, a brokerage report said on Tuesday. During the last six months, Pakistan local crude oil production was 13.2…
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