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Gas will only be available for eight hours in winter: power minister

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  • Loadshedding plan being devised to ensure gas supply for eight hours: minister.
  • Says natural gas reserves further depleted by 18% compared to last year.
  • Rs16 billion had been collected from electricity defaulters so far, says Ali.

Caretaker Power Minister Muhammad Ali has said that gas will only be available for eight hours in the winters amid depleting natural gas reserves in the country.

“[Gas] loadshedding has been taking place for the last few years. The loadshedding will occur this year as well because we don’t have enough gas to supply it for 24 hours,” the interim minister said while addressing a press conference in Islamabad on Wednesday.

Like last year, the minister said the loadshedding plan was being devised to ensure a gas supply for eight hours. He said the natural gas reserves have further depleted by 18 % compared to the last year.

Power Minister Ali also expressed hope that the issue of gas shortage for industry in December will be resolved to a greater extent as two liquefied natural gas (LNG) cargoes have been finalised.

The minister said despite various constraints, all-out efforts were being made to ensure the availability of gas to domestic, industrial and fertilizer sectors with minimum gas load management in the coming winter season.

“We have only two LNG terminals and limited natural gas but today we have finalised two LNG cargoes for December, which would help address the gas supply issues in December for the industry. The gas supply was also being improved for the fertilizer sector, he added.

Speaking about ongoing crackdown on power thieves, the minister said an amount of Rs16 billion had been collected from electricity defaulters so far during the ongoing crackdown, which would further continue.

He said it had been decided to change the board of directors (BoDs) of all the power distribution companies (DISCOs).

The management of DISCOs would be handed over to the private sector on long-term concession, he added.

Earlier this week, The News reported that the Petroleum Division was in the process of giving the final touches to a summary to increase the gas tariff, which will be tabled in the Economic Coordination Committee (ECC) meeting for approval

After ratification by the federal cabinet, the government will notify the new gas prices not from July 1, 2023 but from the date the cabinet approves the new tariff, top officials at the energy ministry had told The News.

“The top functionaries of the Petroleum Division have so far planned not to spare even the protected residential consumers just to ensure a zero increase in monthly flow to the circular debt in the gas sector. The protected consumers falling in the first four slabs, utilising gas up to 0.25 HM3, 0.5 HM3, 0.6HM3 and 0.9hm3 may face an increase from Rs300 to less than Rs500 per MMBtu.”

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April FDI in Pakistan increased to $358.8 million, according to SBP

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The inflow for April was $358.8 million, up 177% from $132 million in April FY23. Still, that was 39% more than the $258 million from March.

China was the largest investor, with $439.3 million in FDI from the nation between July and April of FY24—the greatest amount—as opposed to $604 million during the same period of FY23. In April, China accounted for $177 million of the total investment.

With $51.93 and 51.89 million invested in Pakistan, the United Arab Emirates and Canada came in second and third, respectively.

The power industry was the main draw for foreign investors in FY24, which ran from July to April. This period’s FDI in the power industry was $637.5 million, compared to $776.2 million the previous year. From $338 million to $460 million this year, Hydel Power garnered more attention.

Continue reading: In FY23–24, Pakistan’s per capita income increased to $1680.

According to a separate data released on Wednesday, Pakistanis’ per capita income increased to $1680 in FY2023–2024.

The size of the national economy grew from $341 billion to $375 billion in the current fiscal year, according to figures made public by PBS.

Throughout this fiscal year, Pakistanis’ yearly per capita income increased by Rs 90,534; the monthly rise was Rs 7,544.

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OGRA forbids the purchase or sale of inferior LPG cylinders.

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The 313 LPG marketing and 19 cylinder-producing companies received notices from the OGRA, which described the act of refilling inferior LPGO cylinders as harmful.

Avoid supplying LPG to unlicensed distributors, the OGRA has cautioned LPG marketing companies. Only approved distributors will be able to sell and buy LPG going forward, per the notification, which states that new SOPs have been developed for the LPG industry.

Additionally, the warning said that the decision was made in an effort to preserve both lives and the business in response to an increase in cylinder blast occurrences.

Price reductions of Rs 20 per kilogramme for liquefied petroleum gas (LPG) were implemented in Quetta on May 3.

There is a reduction of Rs 20 on LPG prices, which means that the price per kilogramme drops from Rs 280 to Rs 260.

The costs of LPG were reduced by Rs 20 per kilogramme earlier, bringing the total decrease to Rs 40 per kilogramme over a few weeks. This is something worth noticing.

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PIA announces a significant student discount.

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According to an airline spokesman, the national flag carrier has recently raised the baggage allowance to 60 kg.

Currently, PIA flies one flight per week on Sundays between Islamabad and Beijing.

The discount may be useful to students who intend to spend their summer vacations in Pakistan or who wish to return home after earning their degrees.

Before, students who wanted to visit China could now receive a 27% reduction on their fares through PIA.

On Eid ul Fitr, the national flag airline also reduced the cost of domestic flights by 20% for both economy and executive economy classes.

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