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Fuel and Energy: Pakistan


Finance Minister Senator Ishaq Dar has directed the water and power ministry to explore the possibility of foreign funding for evacuation of power from 1,200MW RLNG-fired project to be set up in Balloki (Kasur) from Asian Development Bank (ADB) and IBRD through Economic Affairs Division (EAD), official sources told Business Recorder. Dar gave the orders at a recent meeting of Executive Committee of National Economic Council (ECNEC).

The AJK government has requested the federal government to provide additional security personnel for Neelum Jhelum Hydro Power (NJHP) Project, it was learnt. A copy of the official documents submitted to National Assembly Committee on Kashmir Affairs and Gilgit-Baltistan and obtained by Business Recorder shows that AJK government has requested to the federal government to provide additional security of 100 personnel for the NJHP Project.
As per the notification of the Ministry of Petroleum & Natural Resources (dated July 16, 2015), Yacoob Suttar, Sr General Manager, PSO presently posted as Managing Director, Asia Petroleum Limited is assigned to look after the work of MD PSO in addition to his own duties with immediate effect till the joining of regular incumbent. Suttar is a Fellow Chartered Accountant by profession and has over 29 years of professional work experience. He is also a Fellow Cost and Management Accountant.
K-Electric on Friday announced that it will not resort to loadshedding during Eid-ul-Fitr holidays. According to a KE press release, exemption in loadshedding would begin from Saturday morning and continue till Wednesday morning. A spokesman for KE hoped that the exemption from loadshedding will enhance the festive spirit of the occasion for the citizens. Apologizing for the inconvenience caused to consumers during few days of Ramazan-ul-Mubarak, the spokesman said: "We are doing our best to ensure such faults do not recur."
With a view to overcoming energy crisis, the federal government has allocated Rs 248 billion for different power projects in the budget 2015-16. Sources revealed that Rs 52 billion had been allocated for stage one of the 2160MW Dasu Hydro Power Project. Similarly, Rs 21 billion have been earmarked for land acquisition and construction of the 4500MW Diamer-Bhasha Dam. An amount of Rs 11 billion has also been allocated for the 969MW Neelum-Jhelum Hydro Power Project while Rs 16 billion each have been allocated for Tarbela IV Extension Hydro Project and up-gradation of Guddu Power Project.
National Electric Power Regulatory Authority (Nepra) on Thursday approved a refund of Rs2.68 per unit to the consumers of power distribution companies (Discos) under monthly fuel adjustment mechanism. However, Nepra''s determination will not have any impact on current tariff of domestic and agricultural consumers using electricity up to 300 units per month.
The outstanding dues against Independent Power Plants on account of Regasified Liquefied Natural Gas (RLNG) consumption have reached Rs 26.5 billion mark since Pakistan started importing the commodity. According to the senior Petroleum Ministry officials, the IPPs using RLNG have so far paid Rs 1.5 billion while Rs 26.5 billion are outstanding against the power producers.


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln