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Fuel and Energy: Pakistan

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The Sindh High Court (SHC) on Thursday barred Pakistan Atomic Energy Commission (PAEC) from commencing work on twin nuclear power plants in Karachi without adhering to the environmental laws. Headed by Chief Justice Maqbool Baqar, a division bench also issued notices to PAEC and Pakistan Nuclear Regulatory Authority (PNRA) chairmen, Sindh Environmental Protection Agency''s (Sepa) director general, Pakistan Environmental Protection Agency''s (Pepa) chairman and Environmental and Alternative Energy Department Sindh to file comments on a petition by November 11.

Power sector''s continuous poor performance and controversial allotment of plots in the Gaddani Power Park has reportedly made Secretary Water and Power Nargis Sethi apply for Leave Prior to Retirement (LPR) - two months prior to her scheduled retirement, well informed sources told Business Recorder. Sethi has not attended office since October 2, 2014 and has applied for LPR effective October 10, 2014. She is due to retire on December 25, 2014, said an official.
Saudi American Consortium has shown its interest to invest up to $2 billion in the development of energy sector projects in Khyber Pakhtunkhwa to utilise the natural resources of the province in order to generate cheap electricity and control the energy crisis in Pakistan.
Third International Energy, Gas, Oil and Power Exhibition and Conference-EGO Pakistan 2014 opened its doors to huge number of visitors at the Expo Centre Lahore. The event was inaugurated by Punjab Minister for Mines and Minerals Chaudhry Sher Ali Khan and Saleem Khan Tanoli, CEO FAKT Exhibitions (Private) Limited, here on Thursday.
Chief Minister Punjab Muhammad Shahbaz Sharif on Thursday said that all the hurdles to the import of LNG would be overcome by the government to keep CNG stations running without any interruption across Punjab. According to the spokesperson to the APCNGA, Shahbaz Sharif expressed these views this while talking to a delegation of CNG representatives led by Ghiyas Paracha at Model Town.
The Islamabad High Court Thursday issued notice to Attorney General for Pakistan (AGP) under Order 27 A of the CPC, seeking a reply in response to identical petitions filed against Gas Infrastructure Development Cess (GIDC) Ordinance 2014. Appearing before a single-member bench of the Justice Shaukat Aziz Siddiqui, petitioners' counsel Raja Amjad Mehmood questioned as to why an Ordinance regarding GIDC was promulgated in the presence of the Parliament.
The government has decided to exempt machinery, equipment and other capital goods worth $50 million from customs duty for new power projects against valid contracts, official sources told Business Recorder. Giving details, sources said that the Finance Bill 2014 has introduced a new Fifth Schedule to the Customs Act, 1969 to replace Customs S.R.O. 575(1)/2006 dated 05-06-2006. This envisages import of plant, machinery and equipment (including energy-related projects) and their local manufacturing status linking with CGO-11/2007, with the objective to encourage the locally manufactured goods and also to save valuable foreign exchange.

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln