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Fuel and Energy: Pakistan


Pakistan is committed to the International Monetary Fund (IMF) that it would take mitigating measures including tariff adjustments, and, if required, suitable amendments to the National Electric Power Regulatory Authority (NEPRA) Act in case of a ''''potential adverse outcome'''' from a court verdict on energy surcharges.

Ministry of Water and Power on Thursday grilled the top brass of K-Electric on the current electricity crisis in Karachi due to which the federal government faced criticism from the provincial government and political parties, well informed sources told Business Recorder.
Punjab has requested the Federal government to pay Rs 21 billion as arrear of Net Hydel Profit due since 2004-05 in addition to regular payment accruing every successive year. Sources in Finance Ministry told Business Recorder that the Punjab government had not been receiving Net Hydel Profit from the Federal government since 1996-97. Punjab is now requesting the Federal government to resolve this long standing issue of payment of Net Hydel Profit.
KARACHI: The Federal Minister for Commerce, Engr Khurram Dastgir, said here on Thursday that the country will overcome power crisis by 2017 as several energy projects have already been initiated across the country. "All resources, including hydel, nuclear and coal are being exploited to generate sufficient electricity for our domestic and industrial sectors," he added.
Pakistan has become an associate member of the European Organisation for Nuclear Research, called CERN, said director of Karachi University's Office of Research Innovation and Commercialisation (ORIC), Dr Aliya Rehman while talking to researchers in her office on Thursday. Asked if India was also an associate member of the CERN, the KU official replied in the `negative'.
This is with reference to a news item 'Minister places moratorium on recruitment' carried by Business Recorder on July 01, 2015. The Ministry of Commerce clarifies that the process of selection of Permanent Representatives to WTO was undertaken transparently. Applications were invited through circulation of posts by Establishment Division and advertising the vacancies on the Ministry's website and the candidates were shortlisted after due diligence.
While opposing the proposal to convert land of National Agriculture Research Council (NARC) earmarked for research purpose into housing colony, members of board of governors (BoG) of the council termed the move similar to that of Tailiban who have track record of destroying educational institutions.


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln