ISLAMABAD: M/s Kot Addu Power Company Limited (KAPCO) has again approached the power regulator for early approval of provisional tariff as National Power Control Centre (NPCC), the System Operator is repeatedly emphasizing the requirement of KAPCO units to meet system demand. In a letter to Registrar Nepra, Chief Executive KAPCO, Aftab Mahmood Butt, cited the letter of June 16, 2023…
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ISLAMABAD: M/s General Electric (GE) has cautioned the management of Thermal Power Station (TPS) Guddu that any delay in opening of Letter of Credit (L/C) may have cascading effect on delivery of mandatory spare parts for necessary rehabilitation of TPS-14. In a letter to Chief Executive Officer, Central Power Generation Company Ltd, Genco-II, TPS Guddu, the Country Director M/s GE,…
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Finance Division has once again advised that Power Division may adjust the advance payments to CPEC-IPPs against next five months of FY 2023-24 ISLAMABAD: The Finance Division has asked the Power Division to adjust Rs 20.726 billion as advance payment to CPEC IPPs against next five months of current financial year (2023-24) as decided by the federal government, official sources…
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K-Electric is deliberately targeting areas for loadshedding where the Pakistan Peoples Party enjoys great support, said Sindh Energy Minister Imtiaz Shaikh. In a statement issued on Friday, he said that loadshedding of 14 to 18 hours had made people’s lives miserable. “Industries are being shut down and business matters have come to a standstill,” he said. The energy minister said…
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NEW YORK: Oil prices climbed about 2 percent to a six-week high on Friday as supply concerns outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil. Brent futures rose $1.21, or 1.6 percent, to $77.73 a barrel by 1506 GMT. U.S. West Texas Intermediate (WTI) crude rose $1.23, or 1.7 percent, to $73.03.…
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ISLAMABAD: As the rampant black market and overpricing of liquefied petroleum gas (LPG) go unchecked, the Oil and Gas Regulatory Authority (Ogra) on Friday issued a directive to all LPG marketing companies and provinces to ensure the availability of the fuel at notified retail price. Ogra has said that it was essential for all companies operating in the LPG sector…
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KARACHI: The State Bank of Pakistan’s curbs on opening fresh letters of credit (LCs) has restricted imports of solar panels and inverters from China from $2.4 billion in FY22 to just $1bn in FY23. This figure was last seen in FY17, which swelled to $1.8bn in FY19 after growing awareness among customers about alternative sources of energy. The central bank…
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