All
 

 

Just in:  

You are here: Home»Fuel & Energy»Pakistan

Fuel and Energy: Pakistan

Archive: 

With the new government of Pakistan Muslim League (N) about to take over in less than two weeks, National Electric Power Regulatory Authority (Nepra) on Friday notified power tariff of eight months ((from August 2012 to March 2013) under monthly Fuel Price Adjustment (FPA) mechanism which was suspended by the courts on petitions filed by consumers.

The presumptive Prime Minister Nawaz Sharif has reportedly selected Pakistan Muslim League-Nawaz stalwart from Sialkot Khawaja Mohammad Asif as Minister for Water and Power for the 18-member Federal Cabinet. Khawaja Asif, who has already served as Minister for Petroleum and Natural Resources for a brief period in PPP and PML-N coalition government, has been briefed by former Finance Minister Shaukat Tarin, who resigned due to what is widely believed as the government''s reluctance to implement power sector and taxation reforms as agreed with the International Monetary Fund under the November 2008 Standby Arrangement.
The Pakistan Water and Power Development Authority (Wapda) spokesman has explained the Wapda's role in electricity load shedding in the country. Wapda spokesman has made it clear that subsequent to introduction of the power sector reforms and unbundling of Wapda's Power Wing in 2007, Wapda's mandate now includes only the construction of new dams and hydropower projects and operation and maintenance of the existing hydel power stations, whereas rest of the matters relating to power sector including load shedding do not fall within the ambit of Wapda.
Peshawar Electricity Supply Company (Pesco) in collaboration with National Accountability Bureau (NAB) disconnected power supply to 32 more industrial, commercial defaulters in Peshawar Circle on non-payment of about Rs 15 million.
The former Prime Minister Raja Pervez Ashraf on Friday appeared before National Accountability Bureau (NAB's) investigators probing Rs 22 billion Rental Power Project (RPP) scam and submitted a written statement regarding the case. "Raja Pervez Ashraf appeared before the country top anti-corruption organisation and submitted his written reply. He was interrogated for 30 minutes by NAB's investigations in the RRP scam," a NAB official said.
The government has released Rs 10 billion to Pakistan State Oil (PSO) to enable the company to clear international letter of credits (LCs) payment, it is learnt. Sources in the Petroleum Ministry told Business Recorder here on Thursday that the cash strapped PSO after the successful completion of general elections had now reduced furnace oil supply to powerhouses.
National Transmission and Dispatch Company (NTDC) has restarted loadshedding in the country after the general elections as furnace oil supply has been reduced to 10,000 tons from 16,000 tons per day, well informed sources told Business Recorder.

 



 
IndexClosingChg%
ArrowDJIA 15,354.40 0.80
ArrowNasdaq 3,498.97 0.97
ArrowS&P 1,667.47 1.03
ArrowFTSE 6,723.06 0.53
ArrowDAX 8,398.00 0.34
ArrowCAC-40 4,001.27 0.56
ArrowNikkei 15,138.12 0.67
ArrowH.Seng 23,082.68 0.17
ArrowSensex 20,286.12 0.19






Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyFBS July-June
Trade Balance $-21.271 bln
Exports $23.641 bln
Imports $44.912 bln
WeeklyMay 13, 2013
Reserves $11.863 bln