Another 90 paisas per unit have been approved as monthly Fuel Charges Adjustment (FCA) for January 2021, continuing with the trend that started in July 2020. The monthly FCA so far in FY21 has averaged a little over Re1 per unit. With international energy commodity prices moving sharply north, it appears the upcoming monthly FCAs could well be on the…
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ISLAMABAD: Power Division is said to have opposed payment of Net Hydel Profit (NHP) to provinces on the basis of the AGN Kazi formula, saying that it will increase circular debt by Rs 500 billion per annum, well-informed sources told Business Recorder. The opposition of the AGN Kazi formula was one of the reasons for the removal of former Secretary…
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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 11th Mar, 2021 ) :The Cabinet Committee on Energy (CCOE) on Thursday appreciated the efforts of the Power Division for devising a plan for regular monitoring of Circular Debt situation. A meeting of the Cabinet Committee on Energy (CCOE) was held under the Chairmanship of Federal Minister for Planning, Development and…
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China is increasing green investment under the Belt and Road Initiative (BRI) as the country has been trying to shift away from fossil fuels and further promote clean energy. Investment in renewable energy including solar, wind and hydro became for the first time the majority of Chinese overseas energy investment last year, with share increased to 57 percent from 38 percent…
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LONDON (Bloomberg) –OPEC downgraded the outlook for demand for its crude over the next two quarters, in keeping with the group’s plans to keep a tight rein on supply. The Organization of Petroleum Exporting Countries trimmed estimates for the amount of crude it will need to pump in the second quarter by 690,000 barrels a day, amid a weaker picture…
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ISLAMABAD: The Power Division Thursday informed the Cabinet Committee on Energy (CCoE) that three separate inquiry reports had clearly proved that the incident at Guddu Power Complex was a trigger point that led to breakdown of the entire power system in the country. A meeting of the Cabinet Committee on Energy (CCoE) was held under the Chairmanship of Federal Minister…
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QUETTA: Special Assistant to the Prime Minister for Climate Change Malik Amin Aslam has said that six cities of Balochistan have been included in the Prime Minister’s Clean Green Pakistan project. Talking to reporters here on Thursday, Mr Aslam said that under the project 10 billion trees were being planted across the country and more than 100,000 volunteers had been…
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ISLAMABAD: After months of resistance by the opposition in a parliamentary committee, the government on Thursday got cleared through majority vote a bill empowering it to impose surcharges on electricity consumers to meet another ‘prior action’ for revival of the International Monetary Fund (IMF) programme. Under the bill, which will now go to the National Assembly for approval, the government…
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PESHAWAR: In an important development for the country’s energy sector, the Khyber Pakhtunkhwa government has signed a contract agreement for the construction of 300-megawatt Balakot Hydropower Project with a Chinese company. As per details, the 300MW power project would be constructed with an estimated cost of Rs850 billion in a period of six years with financial assistance from the Asian Development…
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ISLAMABAD: Pakistan auto parts industry has urged the government to review Electric Vehicle (EV) policy owing to severe implementation gaps, Munir Bana, Chief Executive of Loads Limited, a leading auto parts manufacturer said on Wednesday. While arguing for the review of EV policy, he said that as per Pakistan’s economic survey, Pakistan electricity production is still 58.4 percent dependent on…
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