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Fuel and Energy: Pakistan


Ministry of Finance and Ministry of Water and Power are equally responsible for the prevailing problems of power sector with no visible improvement in the system during the last sixteen months. Sources said that Finance Minister Ishaq Dar, who enjoys full confidence of Prime Minister Nawaz Sharif, has been calling the shots in terms of accepting politically challenging International Monetary Fund (IMF) conditions on power sector.

Lahore Electric Supply Company (Lesco) has reportedly installed 43 meters at Jati Umra estate Raiwind - the official residence of Prime Minister, Nawaz Sharif and Chief Minister, Punjab, Mian Shahbaz Sharif and their families - well informed sources told Business Recorder. Multan Electric Power Company (Mepco) on Monday issued a notice to Vice-Chairman Pakistan Tahreek-i-Insaf, Makhdoom Shah Mehmood Qureshi against installation of six meters at his residence and sought a clarification.
The Sindh government got another Chinese investment of $130 million for setting up 50MW Wind Power Project near Gharo city, said a press release issued here on Monday. Chief Minister Sindh Syed Qaim Ali Shah witnessed the sub-lease (land) signing ceremony between AEBD and Hydro Dawood China Wind Farm (50 Mw) at CM House Karachi. Consul General of China, officers of AEBD and Energy Department were also present.
Prices of crude oil in the international market recently witnessed a sharp decline, plummeting by an average of 15 per cent from their recent peaks. According to JS global research report, Arab Light (benchmark for Pak E & Ps ) has fallen to $93.5/bbl from its high of $107.5/bbl in Jun-2014 (down by 13 percent) as growth in global oil production outpaced the growth in oil consumption.
The Oil and Gas Regulatory Authority (OGRA) has sent its recommendation to the Petroleum Ministry seeking a decrease in the price of petroleum products. OGRA has recommended Re0.94 per litre decrease in the price of high speed diesel, Rs 2.93 decrease in petrol, Rs 1.30 decrease in kerosene and Rs 1.87 decrease in the price of HOBC. If approved, the new prices of petrol will be Rs 103.63 per litre and diesel Rs 107.04 and will be applicable from October 1.
Minister of State for Petroleum and Natural resources, Jam Kamal Khan has directed the Managing Director (MD) Sui Northern Gas Pipelines to furnish their complete load management plan with details of bulk consumers of process industry, having above 5MMCFD consumption. He said this while chairing a meeting here in Islamabad to discuss the annual and procedural maintenance of Qadirpur field.
Sarhad Rural Support Program (SRSP) has given the approval of constructing 200 KW hydel power house for people of Reeri Oveer, a remote area of upper Chitral situated between two mountains which lacks basic life facilities including communication, infrastructure, education and electricity. The SRSP announced this during a ceremony held here on Monday with the CEO of the program, Shehzada Masood ul Mulk as the chief guest and attended by Qazi Obaidullah.


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln