08252016Thu
Last update: Thu, 25 Aug 2016 11pm

Fuel and Energy: Pakistan

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Chief Operating Officer of MOL, Dr Berislav Gaso on Wednesday hailed the investor friendly policy of Khyber Pakhtunkhwa government and said that MOL has more than doubled its investment from around US $2 billion to over US $5 billion during the last one year in exploration of oil and gas sector.
National Electric Power Regulatory Authority (Nepra) on Wednesday approved Rs 2.49 per unit refund for the consumers under monthly fuel adjustment mechanism overcharged by the Distribution Companies (Discos) in July 2016. This decision was taken in a public hearing under the chairmanship of Chairman Nepra, Brigadier Tariq Saddozai (retired) on a petition of Central Power Purchasing Agency-Guaranteed (CPPA-G) The consumers who use up to 300 units monthly and agriculture consumers are eligible for the reduction in tariff under monthly fuel adjustment mechanism.
Aimed at encouraging and facilitating the customers of Lyari to pay their outstanding bills, K-Electric has established a special camp in the area. The initiative is in line with the utility's efforts to facilitate low income group consumers to clear out their outstanding dues.
The government of Khyber Pakhtunkhwa and SK Hydro Pvt Limited and Industrial & Commercial Bank of China Limited Wednesday signed an agreement for the construction of 870 MW Suki Kinari Hydro Power Project. Provincial Minister of Energy and Power and Education Muhammad Atif Khan attended the occasion. Under the agreement this Mega Project would be completed at a cost of Rs 200 billion within 5 years. The province besides getting Rs 1.5 billion annual as water used charges, will also get additional 113 MW electricity of its share.
Chevron Pakistan Lubricants (Private) Limited (CPLPL) Tuesday embarked on its plan to invest over Rs 2 billion across the country, said a company statement issued here. The groundbreaking ceremony was held at Chevron's West Wharf Lubricants Blending Plant in the city. Chevron's regional and in-country lubricants leadership inaugurated the project at Dockyard Road, Karachi. Earlier this year, Chevron Pakistan announced confirmed plans to spend over Rs 2 billion in the country in the next three to four years to upgrade and expand its Lubricants Blending Plant in West Wharf as well as other facilities across Pakistan, which will make them state-of-the-art establishments.
The Directorate General of Intelligence and Investigation Inland Revenue (IR) is seeking legal option that whether a leading petroleum company can be treated as designated buyer for import of LNG on behalf of the government of Pakistan on government to government basis only, or the income tax law also extends exemption to commercial imports of LNG made by the said company from other countries through bidding process.
Prime Minister Nawaz Sharif on Tuesday approved the appointment of Lieutenant General Muzamil Hussain (retd) as Chairman of Water and Power Development Authority (WAPDA). Notification in this regard would be issued shortly, said PM Office media wing in a press release.