ISLAMABAD: Prime Minister Imran Khan decided during a meeting of the Cabinet Committee on Energy (CCoE) Thursday to defer a move to hike up the electricity tariff in Karachi. In the CCoE meeting chaired by PM Imran here in Islamabad, it was decided not to go ahead with the Economic Coordination Committee’s (ECC) proposed move to jack up the power…
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National Accountability Bureau Chairman Justice (retd) Javed Iqbal has ordered an inquiry against power supply company K-Electric over excessive billing and loadshedding, according to a statement issued by the anti-graft body on Thursday. “The chairman has taken notice of media reports and public protests against overbilling and prolonged power outages in the metropolis,” read the statement. The accountability watchdog said…
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China may have amassed a debt pile of as much as $42 billion in renewable energy subsides that have still gone unpaid to solar and wind power capacity developers, Bloomberg reports, citing a BOCI Research analyst, Tony Fei. “Without structural change to address the issue, the subsidy receivables in the whole industry would continue to grow and drag companies’ balance…
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At the end of August, Islamic Republic of Iran (IRIN) Foreign Minister Mohammad Zarif visited Beijing for what appeared to be a routine visit. However, soon after the visit, it was reported in the media that the People’s Republic of China (PRC) had agreed to invest a vast sum of $400 billion in Iran. This would be the biggest investment…
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The wire transfer was just one of millions that ricochet through the global financial system every day. Starting at the Zurich branch of a Russian state bank, $800 million zipped through Citigroup Inc. in New York before landing in a small bank in Lebanon. The payment came from Russian oil giant Rosneft PJSC –- a loan to the cash-strapped government of the…
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The Pakistani government does not seem willing to shift its spending priorities despite the burgeoning COVID-19 challenges. Pakistan has emerged as one of the countries with the fastest rate of coronavirus infections in recent weeks, according to the World Health Organization (WHO). The country reported its first coronavirus case on February 26 and is now among the top 15 most-affected countries.…
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ISLAMABAD: Provincial governments on Wednesday partially rejected the federal government’s much-talked about draft Indicative Generation Capacity Expansion Plan (IGCEP) 2047 initially for ten years (2030) to be reviewed each year, saying that projects of their interests have not been incorporated or ignored. This was the crux of a heavily attended hearing held in Nepra presided over by Chairman National Electric…
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The Minister for Energy was seen lauding his government’s efforts in the power sector the other day on the floor of the lower house. This is how far the joke goes. There is no point in debating who takes the podium in power sector mismanagement from the PPP government to the PTI’s. Lack of political will, misguided priorities, incompetence, and…
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ISLAMABAD: Amid criticism from provinces for allegedly ignoring their projects in long-term power generation plan, the federal government on Wednesday insisted the future energy plan would be based on sustainability and affordability instead of any inter-provincial quid pro quo. This was the crux of a day-long public hearing organised by National Electric Power Regulatory Authority (Nepra) on Indicative Generation Capacity…
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ISLAMABAD: While provinces and experts term the Integrated Generation Capacity Expansion Plan (IGCEP 2020-2047) unrealistic, the National Electric Power Regulatory Authority (Nepra) on Wednesday decided to constitute a technical committee to address the serious objections raised during a public hearing. During the hearing, held via video link, on the IGCEP 2020-47, the provinces, Azad Jammu and Kashmir (AJK), key public…
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