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Pakistan's PSO imports 7pc less fuel oil over March to May SINGAPORE: Pakistan State Oil has bought 830,000 tonnes of fuel oil for delivery over March to May, 7 percent lower than the same period last year.PSO imports between 85 and 90 percent of the country's fuel oil and petrol, but it has been forced to cut purchases because it has not been paid by its customers.The tender to buy 10 65,000-tonne high sulphur grade cargoes was awarded at premiums ranging from $21 to $26 a tonne to Middle East fuel oil quotes, on a free-on-board (FOB) basis.The company also bought three 60,000-tonne low-sulphur grade cargoes at premiums in the range of $48 to $55 a tonne to Middle East fuel oil quotes.Sellers were Chinese major PetroChina, Azerbaijan's Socar, and traders including Swiss Singapore, Al-Ghurair Energy, Gulf Petrochem, Vitol.About a third of Pakistan's electricity is powered by fuel oil.Separately, PSO had bought a total of 500,000 tonnes of gasoline for March ...

PESCO urges consumers to take precautionary measures during rain PESHAWAR: Peshawar Electric Supply Company (PESCO) Monday urged its customers to adopt all precautionary measures in current winter rains to avoid electric shocks. According to a press release issued here said that safety measures including, to properly "earthen" your electrical appliances and replace or tape all worn out wires and not to touch electrical appliances cables with wet hands. Its urged masses to be careful and attentive while using Electric Water Pumps and other Electrical ...
E-Logistics platform created to facilitate mobile ISLAMABAD: Ministry of Information Technology and Telecommunications has supported to create a portal for facilitating mobile and electronic trade for Pakistan within and outside the country.The basic objective of the portal is to use communication boom in the country to take information, knowledge and opportunities at doorstep through Internet and mobile devices, so as to enhance and optimize economic potential.National ICT Research and Development Fund, a subsidiary of the Ministry had completed the project at ...
Global wind power capacity registers record increase in 2014 ISLAMABAD: The expansion of wind power capacity across the globe increased by 16 percent or 51,477 megawatts in 2014 to reach a record 370,000 megawatts, the Austrian Wind Energy Association said.Last year witnessed the highest increase in terms of newly added capacity for a single year, said Stefan Moidl, head of the organization.China was the global front-runner in wind energy expansion, with its generation capacity increasing about 23,000 megawatts in 2014. In 2013 it added ...
IESCO issues power suspension programme ISLAMABAD: The Islamabad Electric Supply Company (IESCO) on Friday issued power suspension programme for various areas of its region due to annual maintenance and routine development work.According to an IESCO spokesman, the power supply of the feeders/grid stations would remain suspended as under:On 28 Feb From 10:00am to 01:00pm From KTM Grid Seham feeder,On 28 February, From 09:00am to 02:00pm Zubair Shaheed, Civil Line, ATM, Gul Afshan, Jada, Machine Mohallah feeders,From 09:00am to 10:00am and ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln