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Fuel and Energy: Pakistan


Stakeholders, including Chairman Central Development Working Party (CDWP) headed by Minister for Planning, Development and Reforms Ahsan Iqbal, have pointed out serious violations in Nawaz Sharif government''s flagship Gadani Power Park designed to establish 10 imported coal fired plants of 660 MW each (10x660 MW), sources close to Secretary Water and Power told Business Recorder. Secretary Water and Power Nargis Sethi is the Chief Executive Officer (CEO) of Pakistan Power Park Management Company Ltd (PPPMCL).

The National Assembly Standing Committee on Planning, Development and Reforms has been told that the national kitty is allegedly facing a Rs 400 million loss due to violations of PPRA rules in the award of a contract of 48 MW Jagran-II Hydro Power Project AJK.
The Pakistani government has presented a new proposal to the Iranian Oil Ministry for the settlement of a dispute over the implementation of Iran-Pakistan (IP) gas pipeline project, Iranian Deputy Oil Minister for international affairs and trading Ali Majedi said. Majedi said the proposal was recently submitted to Oil Minister Bijan Namdar Zanganeh, the ministry''s website reported.
Finance Ministry has reportedly informed the Senate Standing Committee on Finance that the government plans to increase power tariff in the current fiscal year. Sources said that Finance Division has told the Senate Standing Committee that as per commitment with the International Monetary Fund (IMF) under Extended Fund Facility (EFF) notified tariff would reduce the electricity subsidy to 0.5 percent of GDP, which amounts to Rs 144 billion, for fiscal year 2014-15.
Reon Energy Solutions has recently completed a 125 kWp solar power installation commissioned by Wah Nobel Group of Companies. The inauguration of the project was held on July 14, 2014. Members of the higher management of both companies and senior officials attended the ceremony.
Hascol Petroleum Limited, a recently public quoted company on the stock exchanges of Pakistan, has acquired 28.48 percent of Class 'A' ordinary share capital, which constitutes 11.40 percent of the total ordinary share capital of Pakistan Refinery Limited. Pakistan Refinery Limited is quoted on the Karachi and Lahore stock exchanges. Hascol Petroleum Limited has informed the stock exchanges on 16th July 2014.
All Pakistan CNG Association (APCNGA) has urged the concerned authorities to initiate a sound and long-term strategy to counter availability of faulty CNG cylinders causing serious risks to human lives as well as to the property. Office bearers of the association in a statement here on Tuesday also expressed their heartfelt grief with regard to loss of precious human lives due to explosion of vehicles fitted with faulty cylinders in two separate incidents at Peshawar and Karachi respectively.


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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