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Fuel and Energy: Pakistan


Finance Ministry has argued in favour of rationalising relending rates of foreign loans especially for power sector projects in view of their relevance to electricity tariff. Sources told Business Recorder that the issue of rationalisation of relending policy surfaced after Economic Affairs Division (EAD) conveyed to the Pakistan Atomic Energy Commission (PAEC) the terms of relending of buyer credit loan Agreement of $150 million at 17 percent interest rate.

Ministries of Finance and Water and Power are reportedly putting pressure on National Electric Power Regulatory Authority (Nepra) to fix January 29, 2015 as the date for hearing a tariff reduction petition filed by Central Power Purchasing Agency (CPPA), well informed sources told Business Recorder. Nepra was scheduled to hear the CPPA''s petition of Rs 3.20 per unit on Thursday but the hearing was cancelled because of "other engagements" of Authority''s Chairman and Members.
Pakistan Petroleum Limited (PPL) posted a consolidated earning per share (EPS) of Rs 11.49 during the first half of current fiscal year, 1HFY15. The petroleum giant's EPS showed a decline of 15 percent compared to Rs 13.50 it had posted during the same period last year. The result is accompanied with an interim cash dividend of Rs 4.5 per share versus Rs 5 per share of 1HFY14.
The petroleum products review meeting, chaired by Secretary Petroleum Arshad Mirza on Thursday expressed satisfaction over the stock of petrol in the country. The meeting which was attended by the representatives of Oil Marketing Companies (OMCs) reviewed the current position of petroleum products stock, said a spokesperson of Pakistan State Oil (PSO) here. It was informed that 175,000 tons of petrol is available in stock and there is no chance of its shortage in the country.
Industrial estates including the SITE Industrial Area have been expressing their grievances against low gas pressure ever since the advent of the current winter season. At the onset, it must be understood that demand for natural gas undergoes a wide seasonal variation during the winter months, resulting in demand exceeding the supply thus leading to a drastic decrease in gas pressure in the system.
Public Accounts Committee (PAC), Khyber Pakhtunkhwa Assembly Thursday constituted a three-member sub-committee for thorough investigation into different power projects of the province. The committee led by MPA Syed Mohammad Ali Shah Bacha as chairman. The decision was taken in a meeting of the committee held here at Assembly Secretariat with the Speaker, Asad Qaiser in the chair. Others who attended were included Mufti Said Janan, Syed Mohammad Ali Shah Bacha and Mohammad Idrees Khan.
The government can benefit from declining international crude oil prices by hedging, Saqib Sherani, former Principal Economic Advisor when Shaukat Tarin was the Finance Minister, told Business Recorder. He pointed out that Shaukat Tarin as finance minister had suggested to the PPP-led coalition government in 2009 to opt for hedging when crude oil prices in the international market were declining.


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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 25, 2015
Reserves $15.019 bln