ISLAMABAD: The Executive Committee of SIFC has directed Petroleum Division to prepare ‘Merit Order’ for supply of gas to industry, fertilizer, power generation, commercial, and domestic consumers, economic benefits of which will be reviewed by the caretaker Minister for Finance, sources close to Secretary Petroleum told Business Recorder. Caretaker Finance Minister, Minister for Industries and Production and Minister for Energy as…
Read MoreDay: October 13, 2023
Power projects: Chinese again refuse to renegotiate PPAs
ISLAMABAD: Chinese power projects have, once again, refused to renegotiate Power Purchase Agreements (PPAs) with the Government of Pakistan, a longstanding wish of dollar-hungry Islamabad. The government has to clear about Rs 350 billion of Chinese power projects dues which is why Chinese state-owned insurance company, Sinosure, is reluctant to extend insurance coverage to any new power project. M/s Sinosure…
Read MoreMove to settle Al-Jomaih-KES dispute: Ministerial body to meet on 16th
ISLAMABAD: The Power Division has convened a meeting of three-member ministerial committee on October 16, 2023 to find an amicable way out in the dispute between Al-Jomaih and KES Power on shares of K-Electric, well-informed sources told Business Recorder. A ministerial committee, composed of Minister for Energy (chair), Minister for Privatisation, and Minister for Law & Justice, will meet to assess…
Read MorePetroleum Div proposes upto 172pc raise in gas rates for domestic use
ISLAMABAD – Petroleum Division has proposed a hike of 3900 percent in fixed monthly gas charges for the poorest protected consumers and up to 193.33 percent in gas tariff for various categories of consumers effective from October 1, while an increase of. The Petroleum Division has proposed a hike from 29 percent to 172 percent domestic gas consumers, up to…
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