ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has kept Rs4.24 and Rs2.62 per litre exchange adjustment rate for Pakistan State Oil (PSO) on both petroleum products – petrol and high-speed diesel (HSD)- for the first half of September. The same rate was applicable during the second half of August 2023. The interim government had raised the petrol price by…
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ISLAMABAD: Pakistan is likely to again float proposals to Chinese government for renegotiation on contracts of power projects established under CPEC on the pattern of other IPPs or to purchase 1200-MW electricity from Pakistan for onward supply to power deficient Afghanistan. This idea is under active consideration at the highest level due to rising exceptional capacity payments, which has choked…
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An appeal for a price hike in electricity rates in Karachi has been formally submitted, with a request for an increment of 10 rupees and 32 paise per unit. The application, directed to Nepra, encompasses three separate quarterly adjustments for the fiscal year 2022-23.In the submission presented by the government to Nepra, the initial quarterly adjustment for the period of…
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ISLAMABAD: Caretaker Prime Minister Anwaar ul Haq Kakar has asked the power sector to take immediate action against electricity defaulters in collaboration with the provinces and law enforcement agencies. A review meeting of the power sector was presided over by the caretaker prime minister which was attended by Federal Minister for Power, Muhammad Ali, Adviser to the Prime Minister, Ahad…
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Islamabad. Ambassador of the Islamic Republic of Iran to Pakistan H.E. Dr. Reza Amiri Moghaddam called on Caretaker Federal Minister for Power and Petroleum Muhammad Ali today in Islamabad. Both sides discussed areas of mutual interest and promotion of brotherly relations between two countries.The Energy minister welcomed the Iranian ambassador and expressed his resolve for further strengthening the ties. Ambassador…
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LAHORE: Chief of Army Staff (COAS) General Asim Munir on Sunday assured the business community of fostering transparency in dollar exchange and interbank rates. “The money exchanges would be brought under the purview of taxation, fostering transparency in dollar exchange and interbank rates,” the COAS said while talking to the business community at a meeting held at the Lahore Corps…
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• Power sector employees, govt officials using ‘free electricity’ worth Rs22bn yearly• Need stressed to review IPPs agreements as liabilities surge to Rs2tr LAHORE: The total cost of free electricity units being used by the state-owned entities in the country’s power sector alone ranges between Rs22 billion and Rs25bn per annum whereas the allowances being given to other government departments’…
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Sept 2023
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• PIDE survey reveals 83pc firms link inability to meet targets with lack of power• 78pc companies say electricity scarcity hinders operational efficiency ISLAMABAD: Despite surplus power generation capacity, most of the country’s engineering firms have held electricity scarcity and its poor supply responsible for their inability to meet production goals and achieve operational efficiency, thus losing competitiveness, whereas 95…
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WASHINGTON: Pakistan needs to undertake energy reforms and opt for renewable energy sources, said a senior US official, stressing that reforms suggested by the International Monetary Fund (IMF) would help Islamabad break the “vicious circle of debt and international financing”. Principal Deputy Assistant Secretary Elizabeth Horst, who heads the Bureau of South and Central Affairs at the State Department, emphasised…
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