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Showing posts from April 26, 2019

Gas shortage to increase by 157pc next fiscal year

Khaleeq KianiUpdated April 27, 2019
Ogra issues its State of the Industry Report for 2017-18.ISLAMABAD: With an addition of 700,000 consumers last year, Pakistan’s gas shortfall is estimated to jump by 157 per cent to 3.7 billion cubic feet per day (bcfd) in fiscal year 2019-20 — almost equal to total gas supplies at present.The estimates have been made by the Oil and Gas Regulatory Authority (Ogra) that put the gas shortfall increasing almost continuously every year to 6.6bcfd by FY2028.In its flagship “State of the Industry Report 2017-18”, the authority noted that the (natural gas) demand-supply gap during FY2017-18 was 1,447mmcfd and that this gap was expected to rise to 3,720mmcfd by FY2019-20. The regulator put the total gas demand at about 6.9bcfd in fiscal year 2019-20 compared to total supplies of about 3.2bcfd.It said the demand would increase to 7.7bcfd by 2024 but domestic supplies would fall substantially to 2.3bcfd, leaving a shortfall at 5.5bcfd. The shortfall would prac…

China says Belt and Road Initiative has entered a new era of transparency

Atul AnejaBEIJING, APRIL 26, 2019 13:26 ISTUPDATED: APRIL 26, 2019 14:19 ISTIndia has decided to skip the BRF in opposition to the BRI’s China Pakistan Economic Corridor. New Delhi feels it is an infringement of its sovereignty.China on Friday announced that the financial model for funding projects under its flagship Belt and Road Initiative (BRI) had been revamped, countering criticism that its mega-connectivity undertaking was opening “debt traps” for enhancing its geopolitical influence.“We have also formulated guiding principles of financing the development of the Belt and Road and published debt sustainability framework for participating countries to provide guidance for BRI financing cooperation,” Chinese President Xi Jinping said in his keynote address at the second Belt and Road Forum (BRF).Mr. Xi’s opening remarks highlighted the subtext of rivalry with the United States in setting the global agenda. In the presence of 37 country heads, chief of the International Monetary Fun…