October 9, 2023 -

KCCI be taken on board to finalize industrial electricity tariff on incremental consumption Gas tariff should be cost-based, cross-subsidization be discontinued: President KCCI

October 9, 2023October 9, 2023 Admin

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while welcoming federal government’s willingness to provide cheaper electricity to industries on incremental consumption basis for four months under winter package, urged the government to take KCCI on board for finalizing industrial tariffs based on the cost of service to tackle the issue of cross subsidy for domestic…

Cheap power during winter months: Package for industry on the cards

October 9, 2023October 9, 2023 Admin

ISLAMABAD: The federal government is working on a four-month “winter package” for industry on incremental consumption basis aimed at providing cheap electricity during the winter months, which will not only improve industrial growth but also reduce burden of capacity payment of power plants, well informed sources told Business Recorder. The winter package will be applicable across the country including K-Electric jurisdiction,…

Pakistan finds indications of shale gas presence in well

October 9, 2023October 9, 2023 Admin

ISLAMABAD: Amid declining natural gas production by 8-9 percent annually, the country has found promising indications of the presence of heavy reservoirs of shale gas at the pilot well KUC-1, Hyderabad, Sindh. The project was initiated by the Oil and Gas Development Company Limited (OGDCL) in 2020. As per a USAID study, more than 3,000 TCF (trillion cubic feet) shale…

Opec leaders make case for fossil fuels at climate event

October 9, 2023October 9, 2023 Admin

RIYADH: Opec heavyweights said on Sunday oil and gas should not be stigmatised in the climate debate and that the industry had a role to play in an orderly energy transition. Energy ministers from Saudi Arabia, the United Arab Emirates and Iraq, the three largest members of the Opec, have gathered in the Saudi capital Riyadh for the UN MENA…

No short-term solution to fix circular debt issue, says caretaker minister

October 9, 2023October 9, 2023 Admin

KARACHI: Minister for Energy, Power and Petroleum Muhammad Ali has said there are no short-term solutions to the issue of the circular debt. Speaking at the 20th Annual Excellence Awards organised by the CFA Society Pakistan on Friday evening, Mr Ali said a roadmap to address the issues in the energy sector, including the circular debt, will be developed by…

Anatomisation of power tariff

October 9, 2023October 9, 2023 Admin

Power Sector as a whole and specifically the electricity tariff is under discussion every day. All and sundry are challenging the validity and veracity of DISCO billing as being patently unfair. Most of the people consider that they are being unjustly penalised for the inefficiency of Discos and the non-payment culture of huge swaths of areas, where illegal abstraction of…

‘Detached from reality’: anger as Rishi Sunak plans to restrict solar panels

October 9, 2023October 9, 2023 Admin

Climate campaigners dismiss government argument that controversial move will improve food security Rishi Sunak plans to restrict the installation of solar panels on swathes of British farmland, which climate campaigners say will raise bills and put the UK’s energy security at risk. Last year, then prime minister Liz Truss attempted to block solar from most of England’s farmland. The plans were deeply controversial and…

India, Saudi Arabia sign MoU for green hydrogen supply chain, power grid interconnection

October 9, 2023October 9, 2023 Admin

New Delhi: Nearly a month after signing the energy cooperation pact which spoke about power grid interconnectivity, India and Saudi Arabia have signed a memorandum of understanding (MoU) for green hydrogen supply chain and power grid interconnection. The MoU was signed on Sunday in Riyadh, Saudi Arabia by union minister for power and new & renewable energy RK Singh and…