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KARACHI: Pakistan’s economy is expected to get up to two percent boost as the multibillion dollars Chinese-funded energy projects are increasing production capacity to do away with power deficit of 5,000 megawatts, a foreign bank’s official said on Thursday. “There are various estimates of the impact on GDP, but we...
ISLAMABAD: The government on Wednesday raised prices of re-gasified liquefied natural gas (RLNG) by up to four percent for the current month, indicating further cost pressure on power plants that depend on the cheap oil substitute to produce energy. Oil and Gas Regulatory Authority (Ogra) notified a three percent month-on-month...
ISLAMABAD: The Petroleum Division has directed oil refineries to maintain prescribed standards of petroleum products and ensure the production of fuel that meets requirements of latest model vehicles being assembled and imported into the country. “A few years ago, an auto manufacturing company had complained about the low quality of fuel...
ISLAMABAD:  In the last few decades, energy demand has surged as a function of industrialisation, population growth, inhabitant density amplification, commercial activity intensification, enhanced space mobility, de-forestation, etc. solar These factors are now linked to the economic development of nations through energy economics. However, global energy scaling is hindered by international...
ISLAMABAD: The government has constituted a committee for reviewing the proposal of raising Rs200 billion from commercial banks in a bid to repay liabilities of power distribution companies. The borrowing will be made by pledging assets of power distribution companies. According to officials familiar with the development, the assets had been...
ISLAMABAD: The government has reduced the price of local liquefied petroleum gas (LPG) by 4.89 percent or Rs68.47 for July, translating into Rs1,330.92/11.8kg cylinder for the month. A notification issued by Oil and Gas Regulatory Authority (OGRA) said the new price of 11.8kg domestic cylinder would now be Rs1,330.92, down...
ISLAMABAD: Pakistan will start receiving oil from Saudi Arabia on deferred payments this month (July 2019), as the Kingdom’s embassy in Islamabad on Monday released a press release confirming that Pakistan is due to begin receiving oil supplies from Saudi Arabia under this arrangement to the tune of $9.9...
ISLAMABAD: The federal government on Wednesday approved to increase gas tariffs by up to 190% and electricity prices by Rs1.5 per unit to recover additional Rs334 billion from consumers, fulfilling the remaining two major conditions of the International Monetary Fund (IMF). The Economic Coordination Committee (ECC) of the Cabinet took these...
ISLAMABAD: A US company has announced plans to invest in the solar power sector of Pakistan through a joint venture with a local company. The US-based company has already introduced its mobile solar technology in Pakistan, which can be used for civil and military purposes and assist in overcoming the circular...
ISLAMABAD: The government’s reform agenda and efforts to attract investment in the petroleum sector would continue unabated, remarked Federal Minister for Petroleum Omar Ayub Khan. Also ReaD: Govt decides to open escrow account for Karkey case He was speaking at the signing of petroleum concession and exploration licence agreements at the Ministry of...

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A tale of two budgets

About a fortnight back the Indian Government announced its first post Elections 2019-20 Budget, and it will be interesting to see how it compares...