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Fuel and Energy: Pakistan


Exim Bank of China has reportedly agreed to extend mixed credit of $6.5 billion for two 1100MW each nuclear power plants to be set up at Karachi coast, sources told Business Recorder. ECNEC had approved the project at a cost of Rs 958.8 billion with FEC of Rs 727.8bn on February 21, 2013. Pakistan Atomic Energy Commission (PAEC) entered into contract agreement with M/s CNNC China for construction of the project at a cost of RMB 49bn ($7.903 billion). The ground breaking ceremony of the project was held on November 26, 2013.

Nepra has reduced power tariff by Rs 3.24 per unit. A notification has been issued in this regard. Due to decline in oil prices in the international market, the cost of power generation has been reduced and the government has passed on relief to consumers in the head of fuel adjustment.
Finally, the Oil and Gas Regulatory Authority (Ogra) is going to issue the much-delayed Final Revenue Requirements (FRR) to the Sui Northern Gas Pipelines Limited (SNGPL). Belated by ''''lack of quorum'''' at Ogra, the much-awaited FRR can be issued anytime this month, officials at SNGPL told Business Recorder on Wednesday.
The National Assembly was told that Liquefied Natural Gas (LNG) would be deregulated and supplied to the CNG stations across the country to ensure availability of cheap fuel to the consumers. Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said that the government would not regulate the LNG sector and its price would also be determined by the private sector.
A South Korean business delegation on Wednesday visited Punjab Board of Investment and Trade (PBIT), here on Wednesday. The delegation of Bew Power Asia was briefed about investment climate in Punjab. The purpose of this visit was to know about the investment climate in Punjab and the incentives offered to the investors in the energy sector. Bew Asia Power's team showed keen interest in investing in the small hydro power plants and explained the complete process of installing a hydro power plant, from identifying site to the running of the turbine to produce electricity.
The federal government is setting up fresh power projects to produce 14,000 megawatts of additional power to lessen a shortage of 9,000 megawatts that had caused problems for the public and the industry, Provincial Minister for Education and Tourism Rana Mashhood Ahmad Khan revealed this during opening session of a three-day Annual Architects Convention here on Wednesday.
Speakers at a conference on Wednesday called for utilising the proper platform - the Council of Common Interests (CCI) - for conflict resolution among the provinces, including the controversy over the China-Pakistan Economic Corridor project, gas and electricity issues. The panellists of the National Peace Summit, who talked at length on the measures for sustainable peace and development, also stressed the need for holding local body's elections across the country, including cantonment areas.


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln