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Fuel and Energy: Pakistan


ImageFederal government on Thursday poured cold water on the revival efforts of two Independent Power Producers in relation to a 120. MW Japan Power Generation Company (JPGC) and a 110 MW Southern Electric Power Company Limited (Sepcol), arguing that both power companies are bankrupt.

The government is likely to impose Regulatory Duty (RD) on the import of some more items including one or two petroleum products. Sources told Business Recorder here on Thursday that different proposals are under consideration to impose RD on additional items. At present 5 percent regulatory duty is applicable on the import of furnace oil from February 12.
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Chairman Kh Zarar Kaleem has urged the government to privatise the state owned entities, as these are burden on the national exchequer. The Regional Chairman while quoting the example of Karachi Electricity Supply Company (KSEC) said that the government not only got rid of deficit after its privatisation but services to the consumers were also improved.
The Pak-Kuwait Additional Loan Agreement of US $32 million for Neelum Jhelum Hydropower Project was signed here on Thursday. Secretary EAD Saleem Sethi and Deputy DG Kuwait Fund for Arab Economic Development (KFED) Hamad Al-Omar signed the agreement on behalf of their respective governments. Minister for Finance Ishaq Dar and Kuwait Ambassador Nawaf Abdul Aziz Alenezi witnessed the ceremony.
Institute of Policy Reforms (IPR) on State of Power Sector issued a fact sheet here on Thursday which stated that there is no chance of reduction in loadshedding in the country in next two years. It estimates gap in peak demand to exceed 4500MW. Loadshedding remained high in 2013-14. Daily average loadshedding was as high as 10 hours in Multan and Quetta while it was three hours in Gujranwala and Lahore, and two hours in Karachi.
Pakistan and Iran have agreed on a two-year extension in completion of Iran-Pakistan (IP) gas pipeline project, it is learnt. Official sources told Business Recorder here on Wednesday that Iran agreed to an extension only Pakistan invoked force majeure on IP due to international sanctions against Iran to circumvent the penalty clause of the agreement. According to the penalty clause, if any country fails to complete the deadline it shall have to pay $2 million per day to the other country.
Minister of State for Water and Power Abid Sher Ali said on Wednesday that funding for 4300MW Dasu hydropower project is available but Khyber Pakhtunkhawa (KPK) is not extending help towards land procurement. He was briefing National Assembly''s Standing Committee on Water and Power which met with Arshad Khan Lodhi in the chair. Abid Sher Ali maintained that the federal government has already paid billions of rupees to the KPK government for land procurement but no progress has been made.


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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 $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln