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Fuel and Energy: Pakistan


Finance Ministry provides a Rs 25 billion monthly subsidy to the power sector to bridge the shortfall between the power cost and the recovery of billed amount of distribution companies. Sources in the Finance Ministry told Business Recorder that a Rs 50 billion subsidy has been provided to the power sector during the last two months. The subsidy to the power sector at current pace would touch Rs 300 billion mark against Rs 185 billion budgeted for the current fiscal year.

The Lahore High Court here on Thursday sought reply from Petroleum ministry and Oil and Gas Regulatory Authority (Ogra) by September 22 about unjustified increase in prices of Liquefied Petroleum Gas (LPG) allegedly without approval of lawful authority. A bar member Noshab Khan contended that LPG marketing companies increased price of the gas without issuance of notification from Ogra, the competent authority.
SSGC's task Force conducted a raid in Hassan Ali Panwar Goth, National Highway on 17 September 2014 and disconnected 2,200 gas connections which were using gas illegally. Despite the bad law and order situation prevailing in the area, Task Force conducted the raid under the supervision of Syed Nawab Ali Shah, Manager (Customers Relation Department) under the cover of company's security department. Madni Siddiqui, In charge DSM (East) supervised the raid.
Apropos a news item, "Nepra Act 1997 violated, accepts Khilji" carried by Business Recorder yesterday, National Electric Power Regulatory Authority (Nepra) has made the following clarification:
K-Electric (KE) has rebutted a news item which quoted some misinformed sources claiming that KE has been charging "Fuel Adjustment Charges" from its consumers which have led to KE turning profitable. KE's profitability has not increased due to unfair means and neither does the company undergo unfair practices, as the company is regularly audited by well-renowned firms.
Pakistan State Oil Limited has recorded highest ever turnover of Rs 1.4 trillion in the FY 2014 against Rs 1.3 trillion in FY 2013 showing an increase of 9 percent besides maintaining overall market leadership by 62 percent, despite higher finance cost borne by the company owing to the burgeoning circular debt. PSO Deputy Managing Director and Head of Finance and IT, Sohail Ahmed Butt said this while speaking at a Corporate Briefing Programme held at the Lahore Stock Exchange (LSE) on Wednesday.
Zakaria Usman, President, Federation of Pakistan Chambers of Commerce and Industries (FPCCI), has appointed Shabbir H Sulemanjee as Chairman of the FPCCI's Standing Committee on Compressed Natural Gas (CNG) for the year 2014. The notification said: "I am pleased to appoint you as chairman of FPCCI's Standing Committee on Compressed Natural Gas for the remaining term of 2014 with effect from 6th September 2014." Shabbir is also currently the Chairman, of All Pakistan CNG Association (Sindh Zone) (APCNGA).


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln