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Fuel and Energy: Pakistan


National Electric Power Regulatory Authority (Nepra) on Tuesday approved refund of 0.4 Pasia and 45 paisa per unit to the consumers of K-Electric overcharged in April and May 2015 respectively under monthly fuel adjustment mechanism. The decision was taken at a public hearing held at Nepra headquarters presided over by Chairman Nepra Brig. Tariq Saddozai (Retired).

The Islamabad High Court (IHC) on Tuesday issued stay order against new surcharges on industrial consumers against a petition pertaining to the levy of surcharges in electricity bills. The Court directed the Islamabad Electric Supply Company (IESCO) to issue amended bills excluding Tariff Rationalisation (TR) Surcharge along with Financial Surcharge. Justice Amir Farooq while taking up the case directed the owners to submit the amount of new surcharges, as a surety bond in the court.
-Federal Minister for Finance Ishaq Dar has said that work is under way on various power projects to add 10,603 MW of electricity to the national grid by the end of 2017. "The government is working on many on-going power projects of 14000 MW which are at various stages of completion. The projects are: Pakistan Civil Nuclear power project, Neelum Jhelum Hydroelectric Project, Diamer-Bhasha Dam, Dasu Hydropower Project, some water reservoirs including coal power projects of Rs 34 billion with the co-operation of China, wind and solar power projects etc," the Finance Minister Tuesday told the National Assembly while responding to points raised by Shaikh Rashid Ahmad.
A small coal power plant at Moza Khaira and Sultan Pura near BRB Canal has been scrapped. A law officer told the court on Tuesday that identical petitions filed by individuals and the Lahore Press Club had challenged the construction because of health hazards. Law officer Shan Gull on a court query said a notification would be issued soon.
Federal Board of Revenue (FBR) and Oil and Gas Regulatory Authority (Ogra) to jointly formulate a mechanism for recovery of Regulatory Duty on crude oil and petroleum products from consumers, well-informed sources told Business Recorder. Details reveal Economic Co-ordination Committee (ECC) of the Cabinet had approved petroleum product pricing formula under which the prices of petroleum products of the local refineries are linked with the corresponding actual import price of petroleum products imported by the PSO.
Pakistan may not be able to import gas from Tehran despite a nuclear deal between Iran and world powers which has renewed hopes for improved economic ties between the neighbouring countries, a business leader said on Monday. Iran has completed its part of the pipeline to transport 750mmcfd gas to Pakistan while Islamabad has started implementation of 880km of pipeline but it hasn't considered upgradation of gas distribution network, said Ghiyas Abdullah Paracha, central leader of the APCNGA.
Federal Minister for Water and Power Khawaja Muhammad Asif has said that circular debt was Rs 313 billion as on 30-06-2015; and it has re-emerged again due to decreased remittances by Discos in the wake of less recovery, excess line losses and lower payments of subsidy. In a written reply to questions, the Minster told the National Assembly on Monday that all respective stakeholders are required to meet their liabilities towards payments in a timely manner to run the business successfully or to eliminate the accumulation of circular debt.


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln