01202017Fri
Last update: Fri, 20 Jan 2017 04am

Fuel and Energy: Pakistan

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Country's largest oil marketing company Pakistan State Oil (PSO) and Allied Bank Limited (ABL) have signed an agreement to facilitate deployment of ABL ATMs at PSO stations nationwide. The agreement was signed by Ghulam Murtaza Sheikh, Deputy General Manager, New Initiatives, PSO and Faisal Nadeem Siddiqui, Group Head e-Banking - DBG, ABL, at Allied Bank's Head office, Lahore.

Commodity trader Gunvor has won a major tender to supply about 60 liquefied natural gas (LNG) shipments to Pakistan over a five year period while Italy''s Eni will supply the country with LNG over a 15-year period, a Pakistani energy official told Reuters. Pakistan LNG launched a five-year supply tender and a 15-year tender last year to purchase 240 shipments of LNG, drawing a lot of interest from suppliers eager to sell gas in an oversupplied market.
Consumers representatives and business community on Thursday voiced their serious concern over K-Electric's demand for 40 paisa/kWh hike in power tariff under Fuel Charges Adjustment (FCA) for December 2016 on provisional basis. They said the FCA was part of KE's Multi Year Tariff (MYT) which expired on June 30 last year. A KE petition for determination of its new MYT has been pending with the National Electric Power Regulatory Authority (NEPRA) for the last few months. NEPRS is yet to make decision in this regard.
Foreign Direct Investment (FDI) inflow in the power sector has declined by 61 percent and in oil and gas exploration by 50 percent during the first five months of the current fiscal year compared to the same period of last fiscal year as per data presented to the Economic Co-ordination Committee (ECC) of the cabinet.
The Punjab Bio-Energy Company is importing five machines to convert the biomass available in the province into power besides creating awareness among the farmers not to destroy remnants of their crops instead supply it to the company and earn money.
According to HESCO spokesperson, Secretary Water & Power Muhammad Younus Dhaga gave special directives during his visit to HESCO to improve the system and eliminate power theft from entire region. Therefore, HESCO Chief Executive Officer (CEO) Asadullah issued directions for recovery campaign and stern action against power thieves to recover the 100 percent dues from customers.
Secretary of the Ministry of Water and Power Mohammad Younus Dagha visited the Multan Chamber of Commerce and Industry (MCCI) for an interactive session with the members. He was welcomed by MCCI President Khawaja Jalaluddin Roomi.