A steep fall in the value of Pakistani rupee against foreign currencies since July 2018 caused an addition of Rs2.9 trillion or one-fifth to the public debt during the past three years, the Ministry of Finance said on Thursday. The official reaction to media reports on the record surge in public debt, based on State Bank of Pakistan’s debt bulletin,…
Read More
The National Electric Power Regulatory Authority (Nepra) on Thursday reserved its judgement about Rs1.26 per unit additional charge to consumers on account of monthly fuel price adjustment and quarterly adjustment for April-June 2021. At a public hearing presided over by Nepra chairman Tauseef H Farooqui, the regulator took up two separate petitions of K-Electric (KE) for additional charge to consumers…
Read More
In what appears to be increasing mess in liquefied natural gas (LNG) business, Pakistan on Thursday got one-day notice from Engro Elengy Terminal Limited (EETL) to give up its sovereign right to take over its ship and commit full “take or pay” for larger capacity as the government received more expensive bids for five LNG cargos in October and November.…
Read More
The first China-Pakistan Economic Corridor (CPEC) project in the power evacuation and transmission sector, the 660kV High-Voltage Direct Current (HVDC) Matiari-Lahore transmission line, started commercial operations on Wednesday on its scheduled date. On the first day, the project saved the country from a major breakdown by protecting the transmission, dispatch and distribution systems from a possible cascading effect due to…
Read More
Pakistan’s rupee dropped to a one-year low, closing in on the 167 level against the US dollar in the inter-bank market, as demand-side forces continued to put pressure on the currency on Wednesday. As per the State Bank of Pakistan (SBP), the currency closed at 166.87 against the dollar in the inter-bank market, registering a depreciation of Rs0.48 or 0.29%.…
Read More
Islamabad Of every 800 regular electricity users in the country, around 35 are hook or kunda connections. The situation puts a question mark over the working of power distribution companies (DISCOs). Inefficiency on the part of DISCOs has been a major drag on the sector’s financial health, as there are losses and low recoveries. The Senate Standing Committee on Power…
Read More
Pakistan’s first private sector Matiari-Lahore high voltage direct current (HVDC) transmission line project has become operational on Wednesday. According to a statement released by National Transmission and Despatch Company, the flagship project under CPEC has achieved its commercial operation date successfully today as per the agreed timeline between National Transmission and Despatch Company Ltd (NTDC) and Pak Matiari-Lahore Transmission Line…
Read More
The National Electric Power Regulatory Authority (NEPRA) has initiated proceedings to determine the tariff to be charged from electric vehicles by electric charging station, an official document suggests. The National Electric Vehicle Policy provides, “Nepra shall develop a policy to enact EV tariffs and to ensure compliance with EV standards and specifications.” “Therefore, the authority has initiated proceedings to amend…
Read More
Days after Hurricane Ida slammed into the US Gulf Coast as one of its most powerful storms in 150 years, severe disruption to offshore platforms and rigs continued as the US oil and gas industry assessed damage to onshore refineries. While the offshore sector had worked hard to try to avoid or cope with some of the most extreme storms,…
Read More
The government will soon initiate the process to pay 40 percent as first installment to 12 IPPs installed under power policy 2002 as NAB has given its approval to law division, saying the government can proceed to this effect. “This development came on surface when the NAB gave its approval to the Law Division allowing the government to proceed to…
Read More
