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Fuel and Energy: Pakistan


The government may not change the petroleum products prices in the coming month, which as per international trends are expected to increase in the range of Rs 1.4 per litre to Rs 4.5 per litre, it is learnt. According to sources, Oil and Gas Regulatory Authority (Ogra) is likely to suggest an increase of Rs 1.4 per litre in petrol price, Rs 1.56 in High Speed Diesel (HSD) and Rs 4.5 per litre in High Octane Blending Component (HOBC) price, while Light Diesel Oil (LDO) and kerosene oil is likely to reduce by Rs 1.28 per litre and Rs 1.35 per litre respectively.

The government has directed all the distribution companies to redress complaints regarding local tripping of electricity promptly and more efficiently so that people may not suffer. In the light of these directions. According to an official spokesman Secretary Ministry of Water and Power, Nargis Sethi gives target of 14 to 20 days to solve problem of breakdown of Bata Harbanpura 132KV line, which normally required more than two months and 15 days. Thus 40% work has been completed in five days.
A sum of Rs16.24 billion is being invested to up-grade electricity transmission system on the orders of Prime Minister Muhammad Nawaz Sharif to substantially reduce load shedding and address problem of frequent tripping in MEPCO region, which also includes areas of southern Punjab.
Finance Minister Ishaq Dar has reportedly expressed displeasure over the poor performance of Ministry of Water and Power in terms of power sector recoveries and directed the Ministry to submit a detailed quantifying amount recovered and cases lodged during the last one year.
Sui Northern Pipeline Limited (SNGPL) on Saturday suspended gas supply to CNG stations in the provincial metropolis of Khyber Pakhtunkhwa that not only affected commuters' transport but also the general public. The suspension of gas supply to CNG stations resulted in keeping most of intra-city and other parts of the province off the road.
The Executive Committee of the National Economic Council (Ecnec) on Friday approved the construction of a marine-linked infrastructure for 6600 MW Pakistan Power Park at Gadani, Balochistan at a cost of Rs 146.60 billion. The meeting presided over by Finance Minister Ishaq Dar was told that the project envisages development of related infrastructure facilities at the Pakistan Power Park in Gadani to establish 10 imported Coal-Fired Power Generation plants based on supercritical, pulverised coal platform technology to generate 6600 MW electricity.
The rate of tax to be deducted on commission paid by a person selling petroleum products to a petrol pump operator has been increased from 10 to 12 percent of the amount of payment under the Finance Act, 2014. The FBR's income tax circular issued here on Friday explained the rationalisation of rates of tax deduction under section 153, 156A and 233 of the Income Tax Ordinance, 2001.


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln