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ISLAMABAD:  In Pakistan, gas demand is increasing and production contracting, creating supply gaps and shortages. Gas is a convenient, clean and non-polluting fuel. At present, there is no substitution of gas in the domestic and industrial sectors. The fact is that 60% of Pakistan’s gas needs emerge out of the non-power...
ISLAMABAD: After reaching the required depth of 5,474 metres in deep sea at Kekra-1 in G-bloc, ENI, the operator, still needs to go 150 metres more deeper and it will take two days more. After that there will be testing process to know what the reservoir factually has, either...
ISLAMABAD: Pakistan and the IMF have agreed on four prior actions including notifying for hiking electricity tariff by around 15 percent and establishment of an independent committee for determination of market based flexible exchange rate, The News has learnt. After implementing all prior actions agreed with the IMF staff, it...
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday allowed the supply of 150 megawatts of additional power to K-Electric in a bid to overcome power shortages in Karachi. Adviser to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh chaired the ECC meeting to discuss...
LAHORE: Pakistan has been ranked 3rd in the world among top 20 countries for newly installed hydropower capacity in 2018. The country was placed at third position by the United Kingdom-based renowned organisation — International Hydropower Association (IHA) — in its recently issued report titled “2019: Hydropower Status Report —...
ISLAMABAD: The government is expected to approve on Wednesday a plan for procurement of about 6.9 million tonnes of wheat in the public sector during 2019-20 and allow the sale of additional 150MW cheaper electricity power from the national grid to K-Electric without settlement of old liabilities. A meeting of...
LAHORE: National Transmission and Despatch Company (NTDC) has completed work on the insulators of 53km-long 500kV double circuit Port Qasim transmission line with the room temperature vulcanising (RTV) ones enabling the system to feed the power distribution system without any glitches. “Initially, there was a plan to replace insulators with...
RAWALPINDI: Pakistan is facing energy shortage and Tajikistan is set to supply inexpensive electricity to Islamabad in order to meet its potential energy needs, said Ambassador of Tajikistan Ismatullo Nasredin. The envoy expressed these views while talking to Rawalpindi Chamber of Commerce and Industry (RCCI) President Malik Shahid Saleem during his...
ISLAMABAD: In a new move, Pakistan has formally invited Iranian side in Islamabad before Eidul Fitr to discuss the workable implementation plan to materialise the much belated but vital IP gas pipeline project. The Petroleum Division is all set to dispatch a letter to Iranian authorities today (Monday) asking to...
KARACHI: Gas production in the country fell five percent year-on-year to 3.691 billion cubic feet/day (bcfd) in April as all the major producers witnessed slowdown in outputs, a brokerage reported on Thursday, further widening gap in demand and supply of the primary energy mix. Optimus Capital Management said gas production...

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crisis bank financing

Financing of external payments

The outstanding external debt of Pakistan crossed the century mark early this year. It stands as of the end of March 2019 at $105.8...