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Fuel and Energy: Pakistan


The Econo-mic Co-ordination Committee (ECC) of the Cabinet has approved quarterly report (January to June 2015) on Energy Sector Reforms prepared by the Ministry of Water and Power under the supervision of Finance Ministry''s Economic Reforms Unit. Well informed sources told Business Recorder that the Council of Common Interests (CCI) on July 27, 2013 had approved National Energy (Power) Policy 2013.

The National Assembly Standing Committee on Overseas Pakistanis and Human Resource Development has called upon the ministry of petroleum and natural resources to provide gas connections to the residents of emigration tower. The committee met here on Friday under the chairmanship of Mir Aamer Ali Khan Magsi to get a detailed briefing on functions and performance of the Emigration and Overseas Employment and to discuss the progress and issues/problems of Overseas Employment Promoters.
The Ministry of Petroleum is considering allowing import of RON 92 Premium Motor Gasoline (PMG) which as compared with current RON 87 PMG (petrol) is more refined and environment-friendly. According to a summary of the Petroleum Ministry forwarded to the Economic Co-ordination Committee (ECC) of the Cabinet, Pakistan needs to improve both quality and standards of the petroleum products being produced by local refineries and imported by the Oil Marketing Companies (OMCs).
Hi-Tech Lubricants, soon to be a publicly listed company, has introduced new user friendly and ergonomically attractive packaging for its leading machine lubricants brand-ZIC Oil, along with the introduction of new and simplified brand classification. The Company has initiated the launch campaign in the presence of representatives from its Principal Company, SK Lubricants of Korea, and a cross section of Hi-Tech Lubricants dealer network.
Absence of a very conducive business environment and issues related to Pakistan''s perception in global market may have necessitated Privatisation Minister Muhmamad Zubair to personally undertake roadshows for sell-off of power sector distribution companies.
Clarifying that he had never said that his government would overcome electricity challenge within six months, Prime Minister Nawaz Sharif on Friday expressed his resolve to overcome power shortages during his governing party''s tenure. In his speech that he delivered at the ground-breaking ceremony of the 1,180-megawatt Bhikki Power Plant here Friday, Nawaz Sharif said: "the sportsman-turned politician [in reference to Imran Khan] should never use foul language."
An accountability court on Friday issued arrest warrants for former managing director (MD) of Power Infrastructure Board (PPIB) in a multi-billion Rental Power Projects (RPPs) scam. The accountability court judge, Nisar Baig, while hearing the RPPs case against 12 accused, who include former prime minister Raja Pervaiz Ashraf, issued arrest warrants for former MD PPIB Fayyaz Elahi for not appearing before the court.


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln