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Fuel and Energy: Pakistan


Finance Minister Ishaq Dar on Wednesday left for Beijing to attend the Memorandum of Understand-ing (MoU) signing ceremony of Asian Infrastructure Investment Bank, (AIIB) as well as to alleviate the concerns of Chinese with respect to power projects. The minister will sign the document for Pakistan as founding member. The ceremony is scheduled to be held on October 24 at Beijing.

Federal Minister for Water and Power Khawaja Muhammad Asif has said that commercial audit report on electricity over-billing is expected to be completed within the next two to three days. The Minister said this while replying to supplementary questions of the members during a question-hour session of the National Assembly.
Minister of State for Petroleum and Natural Resources Jam Kamal Khan Wednesday informed the Senate that consumers of petroleum products will get relief in prices in view of prevailing trend in the international market. He was responding to a call attention notice regarding non-transfer of benefits of decrease in the prices of petroleum products in the international market to the public moved by ANP Senator Alyas Ahmad Bilour.
The Supreme Court was informed Wednesday that Mari Petroleum Limited - an exploration and production (E&P) company working at Zarghun block - will pay the first production bonus of $0.5 million to Balochistan government. A three-member bench led by Justice Jawwad S Khawaja resumed the hearing of a petition of President Tehsil Bar Association, Tando Adam, who had claimed that oil and gas companies of District Sanghar were causing environmental pollution in the vicinity instead of providing infrastructure, jobs and gas facilities to the local population.
Jamshoro Joint Venture Limited takes strong exception to the story "Government fails to recover over Rs 22bn from JJVL" published by Business Recorder on October 22, 2014. The story is mala fide and, where it does not wilfully ignore them, misrepresents the facts.
The government on Tuesday decided to keep the electricity tariff unchanged at an average rate of Rs 11.52 per unit against a Rs 13.81 per unit as recommended by National Electric Power Regulatory Authority (Nepra). The Prime Minister''s office also announced that "the government has decided not to burden the electricity consumers with new tariff for the year 2013-14 as determined by NEPRA and maintain it at the level of current tariff. The average national tariff for the year 2013-14 as determined by NEPRA is Rs 13.81/Unit while the current average national tariff is Rs 11.52/unit".
The government may use equalisation surcharge instead of fuel price adjustment (FPA) as long as oil prices are declining internationally, sources told Business Recorder on condition of anonymity. FPA allows the consumers to benefit in the event that oil prices fall internationally. The same would not apply to equalization surcharge, sources maintained.


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln