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Fuel and Energy: Pakistan


National Electric Power Regulatory Authority (Nepra) on Friday approved a Rs 2.97 per unit reduction in power tariff for November 2014 under a monthly fuel price adjustment formula but the government has decided to pass on only Rs 2.37 per unit to consumers and keep the remaining 60 paisa for debt servicing of Discos. It is pertinent to mention here that Prime Minister Nawaz Sharif had announced a reduction of Rs 2.32 per unit in tariff in Peshawar on the day when Chairman PTI was in Karachi as part of his anti-government campaign.

Pakistan is likely to strike a long-term agreement with Qatar for the import of Liquefied Natural Gas (LNG), as a Qatari delegation is expected to arrive in Islamabad in the first week of January 2015, Petroleum Ministry officials said. A senior Petroleum Ministry official while talking to Business Recorder on Friday said that a Qatari delegation was expected to visit Pakistan on the start of the New Year to discuss LNG prices and other terms of the agreement.
Meeting of the Board of Directors Pesco held here at WAPDA House with Malik Muhammad Asad Khan Chairman BoD in the chair today expressed concern over rise in line losses by three percent during the period January-December 2014. CEO Pesco Syed Hassan Fazil briefed the BoD meeting about performance and also informed them about Line Losses and Recovery and developmental activities in the Pesco.
The government has handed over the task of recovery of outstanding electricity bills to National Accountability Bureau (NAB). A finance ministry''s statement said that as directed by the Prime Minister to resolve the issue regarding recovery of outstanding electricity bills, Finance Minister Ishaq Dar chaired a high-level meeting, asking NAB to resume the recovery exercise on a fast track basis.
The government is likely to reduce prices of the major petroleum products in the range of Rs 5 to Rs 15 per litre effective January 1, 2015 following a reduction in global fuel price which came down to $60 per barrel, Petroleum Ministry officials said. With the global oil markets buoyed by a glut of crude oil coming out of the US shale reservoirs, the downward trend in the value of crude oil is likely to continue, which come down to as low as $60 per barrel in the international market.
Pakistan Petroleum Limited (PPL), the operator of Gambat South Block with 65 percent working interest (WI) along with its joint venture partners Government Holdings (Private) Limited and Asia Resources Oil Limited with 25 percent and 10 percent WI, respectively, made another gas and condensate discovery at its exploration well Faiz X-1 located in District Sanghar, Sindh.
A 4-member delegation of the Mitsubishi Corporation, led by Kimihide Ando, Chief Executive for Pakistan on Thursday discussed with Finance Minister, Ishaq Dar matters pertaining to possible export of LNG by Diamond Gas International (based in Singapore) to Pakistan besides enhanced Mitsubishi investment.


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln