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Fuel and Energy: Pakistan


Prime Minister Nawaz Sharif has rejected the proposal of Oil and Gas Regulatory Authority (OGRA) to increase gas price for now, but a hike may not be put off for long, said Musadik Malik. Speaking at a news conference here on Friday, the spokesman of Prime Minister, Malik maintained that for the first time in the history of the country oil prices have been reduced twice in a span of two months.

Foreign Minister of Tajikistan Sirojidin Aslov met Prime Minister Nawaz Sharif Friday. The meeting was in continuation with the Prime Minister''s June visit of Tajikistan. Talking to Aslov, the Prime Minister said Pakistan attaches great importance to timely completion of CASA-1000 project. Projects like CASA-1000 and TAPI gas pipeline could become a game changer in regional geopolitics and economic integration, he said.
The participating countries of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project have decided to complete the multi-billion dollar project by the end of 2018, it is learnt. Senior officials of the Petroleum Ministry who attended the four-nations meeting on the TAPI pipeline project which will carry 3.5 Billion Cubic Feet per Day (BCFD) of gas in Ashgabat (Turkmenistan) decided to start working on laying the gas pipeline by 2016.
Brigadier Tariq Saddozai (retired) has been appointed as Chairman of NEPRA for five years. The appointment was made on the basis of his vast experience in the power sector, says a press release issued from Peshawar. He achieved the targets as CEO Pesco and prior to his assignment as CEO Pesco he has worked as MD of Karachi Electric Supply Corporation (KESC).
Hascol Petroleum Limited (HPL) has acquired 12.4 percent A-class shares of Pakistan Refinery Limited (PRL) while the HPL is expanding its storage facilities across Pakistan. Currently; the two company-owned storage projects have been initiated at Mehmoodkot, Muzaffargarh and Daulatpur, Sindh, it was disclosed at the corporate briefing programme (CBP) of the Lahore Stock Exchange (LSE) here Friday.
Apropos a news item titled "Senate body irked by absence of Asif, Abid" carried by Business Recorder on November 21, wherein the Chairman WAPDA, while briefing the Senate Standing Committee on Kurram Tangi Dam, has been misquoted as saying that "FWO was requested to work on the dam but it did not respond."
The Ministry of Water and Power on Thursday took serious notice of media reports about selling of Prime Minister's scheme 'Energy savers' in open market and sought report from the K-Electric. Secretary Ministry of Water and Power Muhammad Younas Daga has issued direction to seek an immediate report from the company, said a statement issued here. The Ministry has asked the K-Electric to submit a detailed report with complete data explaining the actual position.


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln