Business

October 13 blackout: What went wrong?

Published

2 years ago

Farwa

Several parts of Pakistan, mainly Sindh, Punjab and Balochistan, were left without power after a fault was detected in the national grid’s southern transmission system last week on October 13.

It took the authorities several hours to restore the transmission system across Pakistan and the electricity supply returned to normal almost 24 hours later.

Following this, the National Transmission and Despatch Company (NTDC) formed a committee to probe the reasons behind the “partial blackout”.

A four-member committee was formed with NDTC’s General Manager (Technical) Lahore Muhammad Mustafa as its convener, while General, Manager (AM) North Lahore Anwar Ahmed Khan, Chief Engineer (TSG) North Lahore Muhammad Ijaz Khan, and Chief Engineer (OP) NPCC Islamabad Muhammad Zakaria Member were its members.

A handout from the Power Division Wednesday said that the NTDC’s committee has determined the reasons behind the blackout and the Ministry of Energy is taking immediate disciplinary action in light of the report.

The statement mentioned the following reasons:

The first reason for the blackout is the nondurable and sub-standard work done on Tower No 26 of Karachi’s nuclear power plants K-2 and K-three three years ago — in 2019.
The failure of the delivery system calls into question the quality of the equipment used in 2019 and the efficiency of the workers. The connectors used on it were not made for the transmission line but were modified and used for this temporary interconnection.
The project team used 25-year-old dilapidated conductors in 2019 at Tower No. 26, 26-A and 27.
In 2019, despite the sensitivity of nuclear power plants, it was not regularly repaired and maintained as per the prescribed standards.

Business

Pakistan’s gold prices continue to decline.

Published

2 days ago

Farwa

The price of ten grams of 24 carat gold dropped by Rs 1,201 to Rs 205,418 from Rs 206,619, while the price of ten grams of 22 carat gold dropped to Rs 188,300 from Rs 189,400, according to the All Sindh Sarafa Jewellers Association.

Silver, priced at Rs. 2,620 per tola and Rs. 2,254.80 per ten grams, stayed at that level. As reported by the organization, the price of gold dropped by $11 on the global market, to $2,297 from $2,308.

Business

Price of LPG “slashed” by Rs. 20 per kilogram

Published

2 days ago

Farwa

Sources claim that LPG rates have been lowered by Rs 20, making the cost per kilogram drop from Rs 280 to Rs 260.

It is noteworthy to remark that the costs of LPG were reduced by Rs 20 per kilogram earlier, resulting in a total reduction of Rs 40 per kilogram within a few weeks.

The price of liquefied petroleum gas for the month of May 2024 was lowered by the Oil and Gas Regulatory Authority (OGRA) on April 30.

The LPG tariffs were lowered by Rs 11.88 to Rs 238.46 per kilogram in accordance with the OGRA’s notice. On Wednesday, May 1, 2024, the new rates will go into effect.

In April of last year, the price per kilogram of LPG was Rs 250.34. pricing reduction of Rs 140.18 has resulted in a new pricing for home LPG cylinders set for May 2024 of Rs 2813.85.

The OGRA reported a drop in liquefied petroleum gas pricing in April. The price of LPG is now Rs 250.34 per kg instead of Rs 256.78 due to a reduction of Rs 6.44 per kg.

The price of the household cylinder was fixed at Rs 2954.03 for the month of April, down from Rs 3030.12, a decrease of Rs 76.9.

Business

ADB delegation stops by FBR headquarters

Published

2 days ago

Farwa

Senior Director ADB Tariq Niazi oversaw the expedition, which also involved Sana Masood, Farzana Noshab, and Senior Public Sector Management Specialist Laisiasa Tora. The meeting included presentations from economists as well, according to an FBR press release.

The officers focused on structural and policy adjustments as they discussed the Domestic Resource Mobilization Program’s implementation at the meeting.

$300 million was given to the Pakistani government by ADB in December 2023 as a result of the hard work and dedication of FBR. Better laws, regulations, and institutional capability for the FBR were established by Sub-Program I.

With the $300 million in funding provided by the Asian Development Bank (ADB) to the Government of Pakistan in December 2023, the delegation conveyed satisfaction with the program’s effective launch.

The FBR also underlined how crucial digitization is to recording the economy and boosting productivity in a sustainable way.

In order to promote the Government of Pakistan’s Digital Tax Administration Project, both parties decided to look into measures to improve their cooperation.