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Fuel and Energy: Pakistan


A debate over the appointment of new Managing Director of Pakistan State Oil (PSO), rages on, well informed sources told Business Recorder. Ministry of Petroleum and Natural Resources had sent a summary to the Establishment Division for an extension in the term of incumbent PSO chair, without the approval of Prime Minister.

The Supreme Court on Wednesday adjourned the hearing of a review petition of JJVL LPG quota case till date in office due to an incomplete bench. A five-member bench of Justice Nasirul Mulk comprising Jawwad S Khawaja, Justice Gulzar Ahmed, Justice Musheer Alam and Justice Iqbal Hameedur Rehman resumed the hearing of a review petition on JJVL LPG quota case.
Prime Minister Nawaz Sharif has directed the Ministry of Water and Power to reduce loadshedding and take action against the chiefs of non-performing power distribution companies. The Prime Minister on Wednesday presided over a meeting on electricity and gas theft as well as power outages.
Minister of State for Water and Power, Abid Sher Ali has said that the connections of all defaulters will be disconnected in Sindh if they do not pay their bills till April 28 and orders have been approved in this regard. He said this while speaking in the press conference held here on Wednesday after chairing the meeting with the officials of HESCO to review the situation of ongoing campaign against theft and lines losses in the HESCO.
National Electric Power Regulatory Authority (Nepra) on Tuesday slashed power tariff of Discos by Re 1 per unit for March 2014 due to rupee appreciation under monthly fuel adjustment formula. Central Power Purchasing Agency (CPPA) had filed a petition to Nepra for a cut in power price by Re 1 per unit for hearing. This reduction in power tariff is not applicable on so-called lifeline consumers who use only 50 units per month and K-Electric.
Pakistan State Oil (PSO) management has requested the government to compel power producers especially Gencos to pay Rs 130 billion in May to the PSO to enable it to pay international fuel suppliers on account of letter of credit payments (LCs), otherwise the company will default internationally. A senior official of Pakistan State Oil told Business Recorder here on Tuesday.
The Supreme Court on Tuesday adjourned hearing of a suo motu notice against grant of 450 and 200 CNG station licenses illegally during the tenures of former prime ministers Syed Yousuf Raza Gillani and Raja Pervez Ashraf, respectively. A two-member bench of the apex headed by Justice Jawwad S Khwaja adjourned hearing of the matter due to an incomplete bench till May 6.


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln