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Fuel and Energy: Pakistan


The government has discriminated against existing IPPs liable to pay a 5 percent duty by granting a three-year customs duty exemption to short-term Independent Power Producers (IPPs) in spite of Federal Board of Revenue''''s (FBR) opposition. Sources told Business Recorder here on Saturday that the FBR opposed the summary to the Economic Co-ordination Committee (ECC) of the Cabinet chaired by Finance Minister Ishaq Dar on grant of total exemption of duties and taxes on the import of short-term IPPs.

Finance Minister, Ishaq Dar has cleared the tariff increase plan of Water and Power Ministry tailored to recover unpaid Discos'' loans from commercial banks, mark-up cost, actual losses, and inefficiencies of power sector from already over-burdened consumers, sources close to Finance Minister told Business Recorder.
Pakistan is likely to strike a long-term Liquefied Natural Gas (LNG) supply contract with Qatar at an estimated price based on current commodity rates in international market in the range of $8 to $10 per mmbtu, it is learnt. According to sources privy to the development, Federal Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi who has just returned from a visit to Qatar has summoned a high-level meeting of relevant stakeholders of the LNG project on January 26 (Monday) to discuss the terms and conditions of the final agreement with Qatar.
Six-hour electricity loadshedding in urban areas and ten-hour outages in rural areas is being observed as power shortfall has struck to 4000 megawatts. Spokesman to Water and Power Ministry on Saturday said that the government is having storage of furnace oil only for eight days whereas on the other hand, Spokesman to National Transmission and Dispatch Company (NTDC) said that the gas supply to Uch Power Stations has been assured as a result of which, 950 megawatts energy produced from these stations is continuously being added to the system.
Parts of the country including Sindh, Balochistan, Khyber Pakhtunkhwa and some areas of Punjab plunged into complete darkness after a major technical fault struck the national grid here Saturday night, a local TV channel reported. Talking to the channel, K-Electric spokesman Usama Qureshi said the power outage occurred as extra high tension wire tripped; but, K-Electric is not responsible for the major countrywide breakdown, he added. Qureshi said, "We have reports that entire Sindh is facing the blackout."
The government has reportedly decided to file a reference against former acting Managing Director Pakistan State Oil (PSO), Amjad Janjua to National Accountability Bureau (NAB) for his alleged role in the petrol crisis. The Prime Minister has suspended PSO''s Managing Director, Secretary Petroleum Abid Saeed and Additional Secretary Malik Naeem after the petrol crisis in Punjab and some parts of KPK. A Deputy Managing Director of PSO was also suspended.
The Khyber Pakhtunkhwa government has taken strict notice of hoarding and creating artificial shortage of petrol and diesel by certain petrol pumps. The KP Home and Tribal Affairs department has issued necessary directives to officials concerned to take stern action against all such petrol pumps and retailers which are creating artificial crisis of petrol and diesel in the province.


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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 $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln