ISLAMABAD (July 30, 2010): The Energy Task Force (ETF), headquartered in Asian Development Bank's office in Islamabad, co-chaired by ADB Country Director, Rune Stroem and Secretary Water and Power, Shahid Rafi, urged the government to increase power tariff to attain full cost recovery effective July 1, 2010. If this proposal is accepted power tariff of some consumer categories of inefficient Discos is expected to be increased by 200 percent.

ISLAMABAD (July 30, 2010): Oil and Gas Regulatory Authority (Ogra) has unearthed an irregularity amounting to millions of rupees in Mari Gas Company Limited (MGCL) on account of purchase of land in Rawalpindi without prior approval of Ministry of Petroleum and has directed that the plot be sold and its proceeds added to gas price application, Business Recorder has learnt reliably.

ISLAMABAD (July 30, 2010): The government on Thursday raised CNG price by Rs 1.73 per kg (province-wise) in line with increase in electricity, gas tariff and GST effective July 30, 2010. The price of CNG in Khyber Pakhtunkhuwa and Balochistan has been increased from Rs 55.30 per kg to Rs 57.03 per kg and Rs 53.63 per kg to Rs 55.63 per kg in Punjab and Sindh.

ISLAMABAD (July 30, 2010): Pakistan State Oil (PSO) with accumulated receivables as high as Rs 140 billion, has warned Genco, Hubco, KESC and Kapco that it would discontinue supply of fuel on credit basis from August 1, 2010 if they fail to clear dues amounting to over Rs 126 billion by July 31, Business Recorder has learnt. In case of discontinuity of supplies to defaulting customers PSO also plans to revise its future import plans for furnace oil accordingly.

ISLAMABAD (July 30, 2010): Federal Minister for Petroleum and Natural Resources Syed Naveed Qamar has said that government will welcome the proposals of all stakeholders to ensure safety standards at CNG stations. While addressing an event "Pakistan's Workforce - Fuelling the Economy," Minister said that Pakistan was the largest CNG consumers in the world.

ISLAMABAD (July 30, 2010): The cash strapped Pakistan State Oil (PSO) has warned Pakistan Electric Power Company (Pepco) to discontinue fuel supplies from August 1, 2010 onwards, if L/Cs are not opened for furnace oil/HSD supplies for respective fortnights and GENCOs. PSO in its letter sent to MD Pepco Tahir Basharat Cheema said that receivables against Gencos/Pepcos stand at Rs 43.985 billion.

ISLAMABAD (July 29, 2010): The government on Wednesday granted an exploration licence to Oil and Gas Investments Limited (OGIL) for Block No 2667-12 (Baran) located in Sindh. The latter will make an initial investment of $5.2 million at the exploration stage.

ISLAMABAD (July 29, 2010): Private Power Infrastructure Board (PPIB) is reportedly manoeuvring to extend additional incentives to 5 projects initiated under the GoP's fast track initiatives in 2009, informed sources told Business Recorder.

ISLAMABAD (July 29, 2010): The government is in the process of identifying about 2 billion dollar projects for energy sector and seek funding under the Kerry Lugar Bill, an official of Finance Ministry revealed during an informal discussion with the media.

ISLAMABAD (July 29, 2010): The cash-strapped Pakistan State Oil (PSO) increased spending on oil imports by over 32 percent to Rs 537.372 billion during financial year 2009-10 against Rs 363.087 billion in 2008-09 due to low throughput by oil refineries, Business Recorder has learnt reliably.