SANGSAD BHABAN, April 12, 2018 (BSS) – The system loss in electricity distribution and transmission has significantly brought down to 12.19 percent during the last fiscal year. “We have successfully brought down distribution loss of the country’s whole electricity to 9.98 percent and transmission loss to 2.67 percent in 2016-17,” State Minister for Power, Energy and Mineral Resources Nasrul Hamid…
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ISLAMABAD: Pakistan has requested China for ease in payment obligations of over $30 billion worth of about 12,000-megawatt power projects under the China-Pakistan Economic Corridor (CPEC) to minimise its financial and economic difficulties. This is part of the ongoing government efforts to secure discounts and savings on power purchases from independent power producers (IPPs) as circular debt liabilities cross Rs2…
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There is no doubt that the current economic situation compels the power purchaser (the Power Ministry) to renegotiate the terms of Power Purchase Agreements (PPAs) of the IPPs (Independent Power Producers). It is necessary for all involved in this to engage in the spirit of accommodation rather than assert a cold-blooded prerogative based on written contracts that are backed by…
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ISLAMABAD: The nine-member committee headed by ex-chairman of SECP Mohammad Ali which was earlier constituted by Prime Minister Imran Khan on August 7, 2019 has unfolded startling disclosures in its report recently submitted with the top man of the country that under the 1994 power policy, 16 out of 17 IPPs, which invested a combined capital of Rs50.80 billion, have…
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The government is focusing on wrong policy initiatives due to which the circular debt is ever increasing. In fact the recoveries of past years have been shown as increased collection when the regulator adjusted and allowed prior year adjustments in the distribution tariff. The wrong focus is on the generation cost and rewriting of the contracts whereas the actual malaise…
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WASHINGTON: A one-time lockdown won’t halt the novel coronavirus and repeated periods of social distancing may be required into 2022 to prevent hospitals from being overwhelmed, Harvard scientists who modeled the pandemic’s trajectory said Tuesday. Their study comes as the US enters the peak of its COVID-19 caseload and states eye an eventual easing of tough lockdown measures. The Harvard team’s…
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With the UK going into a total self-imposed quarantine, several large American cities in lockdown, and distressing scenes in Spain and Italy, life right now feels chaotic and insecure. It’s a crisis. The economy has ground to a halt. These are the worst of times. And yet there is hope. This is temporary. It will end. Already, there are reasons…
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LAHORE: The ongoing lockdown in the city has reduced load on the transmission system by 1200 megawatt, leading to availability of additional electricity in the Lahore Electric Supply Company (LESCO) system. According to sources, the electricity load on the system was recorded at 3000 megawatts during the month of April 2019 which has reduced to 1800 megawatt during April 2020,…
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ISLAMABAD: Power Division has convened meetings of public sector Independent Power Producers (IPPs) and Generation Companies (Gencos) and private sector IPPs on April 15 and April 16 in Islamabad aimed at exploring different ways to reduce tariff. On April 2, 2020, Cabinet Committee on Energy (CCoE) constituted a committee under the chairmanship of Minister for Power, Omar Ayub, comprising Special…
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With Covid-19 spreading worldwide, the global economy faces mounting downward pressure. Uncertainties are on the rise. China’s foreign trade is encountering major difficulties,” said Chinese customs spokesman Li Kuiwen. Overall in the first quarter of 2020, China’s exports dropped 13.3 per cent, with imports down 2.9 per cent.Last week, China’s Ministry of Commerce said that imports and exports had improved…
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