ISLAMABAD: Federal Minister for Energy. Omar Ayub Khan Monday said that $6.5 billion are being thrown into ‘hellfire’ every year to import energy under the head of guaranteed capacity payments – a major source of accumulation of the circular debt – singed by the previous government. Speaking in National Assembly during question hour, Omar said that the annual capacity payments…
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The Pakistan Bureau of Statistics (PBS) came up with the inflation numbers for March 2021 last week, which showed respite in electricity prices. That is a result of the PBS now rightly acknowledging the reality of monthly Fuel Charge Adjustment (FCA) in the tariff calculation methodology. The PBS still does not have it sorted out to do it right when…
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PESHAWAR: The Centre for Advanced Studies and Energy of the University of Engineering and Technology, Peshawar, has developed solar panels at half the price of the existing silicon ones with the help of international partners by using the third generation solar photovoltaic technology. The lightweight and flexible panels will be formally unveiled this week, principal investigator of the project at…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Monday determined about 27.5 per cent reduction in average bulk hydroelectric tariff of the Water and Power Development Authority (Wapda) to ensure its revenue stream at Rs124 billion for fiscal year 2020-21. The bulk hydropower tariff at which Wapda sells its power generation from all hydropower stations to the Central Power…
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ISLAMABAD: In a dramatic turn that may forestall an early settlement of tens of billions of dues between K-Electric and state-owned entities, Saudi investor Abdulaziz H. Aljomaiah and Special Assistant to the Prime Minister on Power Tabish Gauhar publicly accused each other of conflict of interest and attempts to fleece the state and Karachi-based power consumers. In a letter to…
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ISLAMABAD: The Privatisation Commission (PC) has failed to dispose off Services International Hotel (SIH), Lahore and Heavy Electrical Complex (HEC) in the third quarter of financial year 2020-21 as per schedule though they are at very advanced stages, sources said. “We are all set to complete the privatisation of these public sector entities in current financial year. However, the process…
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ISLAMABAD: The multi-million dollars scam on excess payments to LNG suppliers has been put on way to its logical end as former managing director of Pakistan LNG Limited (PLL) Adnan Gilani and its Chief Financial Officer (CFO) Nadeem Nazir, currently made OSDs (official on special duty), have been declared guilty and held responsible for excess payments amounting to US$27.526 million…
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The beginning of 2021 has increasingly seen accidents and deaths in coalmines and collieries in Pakistan. Only last month, two coalmines collapsed in Balochistan, home to large deposits of coal, causing many coalminers’ deaths. In the tragic accident on March 15, seven coalminers burnt to death in a huge fire triggered by methane gas blast inside a coalmine in Harnai…
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ISLAMABAD: Prime Minister Imran Khan is reportedly unhappy with Ministry of Energy (Power Division and Petroleum Division) for prolonged delay in finalisation of modalities required to resolve KE issues, well informed sources told Business Recorder. On January 21, 2021, Prime Minister had given ten days to SAPM on Power, SAPM on Petroleum, Secretary Power and Secretary Petroleum to finalise modalities…
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ISLAMABAD: The multi-million dollars scam on excess payments to LNG suppliers has been put on way to its logical end as former managing director of Pakistan LNG Limited (PLL) Adnan Gilani and its Chief Financial Officer (CFO) Nadeem Nazir, currently made OSDs (official on special duty), have been declared guilty and held responsible for excess payments amounting to US$27.526 million…
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