Business

Karachi’s several areas to face gas suspension today

Published

11 months ago

Farwa

Gas pipeline damaged in Clifton area.
Pipeline was serving several localities around Clifton.
Areas include different blocks, phases in Clifton, Gizri etc.

KARACHI: The Sui Southern Gas Company (SSGC) on Wednesday said that the gas supply will be affected in several areas of Karachi after a gas pipeline located in Bath Island and Clifton got damaged today.

“A 16-inch dia[meter] gas pipeline located in Bath Island, Clifton got damaged/ruptured today. SSGC had to reduce/stop gas pressure in this pipeline, serving a number of localities around the Clifton area,” wrote the gas supply company on its X account.

*SSGC – NEWS ALERT* A 16 inch dia. gas pipeline located in Bath Island, Clifton got damaged/ruptured today. SSGC had to reduce/stop gas pressure in this pipeline, serving a number of localities around Clifton area. Due to the damaged line, gas supply in different blocks and…
— SSGC Official (@SSGC_Official) December 27, 2023

The company said that the gas supply in different blocks and phases in Clifton, Gizri, Defence Housing Authority (DHA), Gizri, Punjab Colony, Delhi Colony, Old City area, Mai Kolachi and surrounding areas, Bath Island, Sultanabad, Ziauddin Hospital, Dolmen Mall, Movenpick, Mariott and PC hotels will be affected.

It said the SSGC’s teams are on site to complete maintenance work by tomorrow morning “so that the gas supply is resumed at the earliest”.

While the repair work is on, residents in the above areas will face supply issues, the company added.

Last week, the SSGC announced plans to suspend gas supply to parts of Karachi.

In a statement, the gas supply company said that it would be carrying out a gas distribution infrastructure development task on December 24 (Sunday), which would result in the suspension of gas to some parts.

The company elaborated that to carry out this “indispensable” task, the gas supply will remain suspended in Korangi’s industrial and residential areas from 9am to 8pm.

At the same time, for around 13 hours, gas will also remain suspended in parts of the Defence Housing Authority — one of the posh areas of the bustling metropolis.

Business

Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

Published

1 day ago

Farwa

The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

Published

1 day ago

Farwa

The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

Business

Discos report losses of Rs239 billion.

Published

1 day ago

Farwa

When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.