PoL import bill shrinks by 8.11% to $7.7 Billion in 5 months
The imports of the overall petroleum group declined by 8.11 percent during the first five months of the current fiscal year (2022-23) as compared to the corresponding period of the last year. The total imports of the petroleum group during July-November (2022-23) stood at $7,700.272 million, as against the imports of $8,379.847 million during the…
Adil Aziz
Proposals discussed to reform energy sector
Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar chaired a follow-up meeting on reforms in Energy Sector. The participants discussed in detail viable proposals presented by the relevant ministries for introducing reforms in power and gas sectors aiming to bring efficiency in the system, minimize wastage of the energy and provide relief to…
Government announces to set new price of petrol at Rs 214.80 per liter
The government announced to set the new price of petrol at Rs 214.80 per liter with a reduction of Rs.10 rupees in the price of petrol. While announcing a significant reduction in the prices of petroleum products in Federal Finance Minister Muhammad Ishaq Dar said that the new price of high speed diesel is Rs…
Qatar, Pakistan enjoy strong bilateral relations based on solid foundations: Envoy
Ambassador of Qatar to Pakistan Sheikh Saoud Albulrahman Al-Thani has said that the State of Qatar and Pakistan shared unique historical ties, enjoying strong cooperative ties based on solid foundations, and relations between nations have seen remarkable development in recent years in all fields. Addressing the audience on Qatar National Day in Islamabad, the envoy…
PM inaugurated refurbishment project of Units 5 and 6 of the Mangla Dam Hydroelectric Power Plant
Prime Minister Shehbaz Sharif said Pakistan was in dire need of generating cheap electricity as the energy import bill exorbitantly touched $27 billion. He was addressing the inaugural ceremony of the refurbishment project of Units 5 and 6 of the Mangla Dam Hydroelectric Power Plant, carried out with the support of the United States Agency…
Pakistan to get crude oil, petrol, diesel from Russia on discounted price: Musadiq
Minister of State for Petroleum Dr Musadik Malik termed his recent visit to Russia ‘very successful’ as the host country, in principle, had decided to provide crude oil, refined petrol and diesel to Pakistan at a discounted rate. “In addition, negotiations with private sector companies of Russia have been initiated for procurement of Liquefied Natural Gas…
NEPRA concludes public hearing into KE’s FCA, 1st quarter adjustment
National Electric Power Regulatory Authority (NEPRA) concluded a public hearing on the monthly fuel adjustment (FCA) for October and 1st quarterly adjustment (July-September) for the current fiscal year 2022-23 of K-Electric. The hearing was presided over by NEPRA Chairman engineer Tauseef H Farooqi while member Sindh engineer Rafique Ahmed Shaikh and member Khyber-Pakhtunkhwa engineer Maqsood…
Rs431.45 Million being spent on gasification of SEZs, industrial park in 2022-23
The two state-owned companies, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) are currently in process of executing at least three strategic projects to supply gas to two Special Economic Zones (SEZs) and an industrial park in their respective areas to boost industrial production. For this purpose, the government has allocated…
16 oil and gas reservoirs discover during the last fiscal year
Exploration and Production (E&P) companies, operating in different parts of the country, have collectively discovered 16 oil and gas reservoirs during the last fiscal year in pursuit of making the country self-reliant in the energy sector. Out of these, ten discoveries were made in the oil and gas fields of Sindh, four in Khyber Pakhtunkhwa,…
CPEC energy projects offer low-cost electricity for Pakistan
China Pakistan Economic Corridor (CPEC) energy projects have improved the power industry in Pakistan and contributed to economic growth by increasing power supply with high efficiency at lower cost, Tauseef H. Farooqi, Chairman National Electric Power Regulatory Authority (NEPRA) said. In an interview with China Economic Net (CEN), the Chairman said, the total installed capacity…